16B — April 15 - 28, 2016 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N ew J ersey
230 Liberty Street is a 41,500 s/f industrial asset Metz of Bussel brokers $4.4 million sale in Metuchen, NJ
M ETCHUEN , NJ — Bussel Realty Corp . (BRC) , a leading industrial real estate services firm in New Jersey, announced its arranged the sale of 230 Liberty St. in Metuchen, a 41,500 s/f indus- trial asset. The sales price for the transaction was $4.4 mil- lion. The buyer was Barry Feldheim and the seller was NYS Collection. BRC vice president Jordan Metz was the broker representing the seller in the transaction. “As has been the trend in many of my deals over the past several
to be the perfect time to sell the asset, which they had purchased less than 10 years ago," commented Metz. “We had backup buyers as well, several of whom were compa- nies based in Brooklyn, which further indicates the incred- ible strength our New Jersey markets are experiencing, once again. It’s a direct result of the further consolidation and extinction of warehousing in New York's boroughs." 230 Liberty St. features high ceilings, abundant park- ing and 25% office space. The building had undergone an extensive gut renovation of
NAI Hanson signs 12,600 s/f lease HACKENSACK, NJ — NAI James E. Hanson , a leading New Jersey-based full-service independent com- mercial real estate firm, an- nounces it has brokered a lease deal totaling 12,600 s/f, bringing Youth Consultation Service, Inc., a behavioral health and housing agency for special needs children and families, to a larger loca- tion in Hackensack, NJ. NAI Hanson’s Michael Walters , Anthony Cassano , Steven Leitner and Pablo Castro represented the landlord, East Salem 2001 LLC, and the les- see, Youth Consulting Service, Inc., in the transaction. 25 East Salem St. is an 80,207 s/f, six-story office building centrally located in Hackensack. The property is within walking distance of the Bergen County Courthouse, a NJ Transit bus station and Main Street shops. Youth Consultation Service, Inc. is relocating their Hackensack office to the third floor of the building with a new 12,600 s/f lease from a smaller location in town. “The central location in the heart of Hackensack’s downtown and ability to lease an entire floor gives the edu- cational health agency more space to properly serve its Bergen County customer base. This is a wonderful organization dedicated to edu- cating and providing housing for youth with developmen- tal disabilities, and we are pleased to have provided the ideal office space for Youth Consultation Service, Inc.,” said Cassano. “Moving into a space more conducive for busi- ness will allow the organiza- tion to focus on their mission and grow their reach in the Hackensack area.” n both the interior and exterior seven years ago, which helped position it as a very unique asset in a market already thin on inventory that is available for sale. Industrial vacancy rates in this market are currently reported to be at or below 1%. The property’s location provides immediate access to I-287 and is near the New Jersey Turnpike, Route 1-9, 440, Garden State Parkway and the Outerbridge Crossing to Staten Island and Brooklyn. n
230 Liberty St.
years, and for our market as a whole, the purchaser is an e-commerce/third-party logistics firm relocating from Brooklyn and will occupy the entire space." said Metz. “My client, NYS collection,
implemented better distribu- tion channels in its retail/ ecommerce sunglasses busi- ness over the past several years, and no longer needed the space. Given current mar- ket conditions, it happened
13 Unit Mixed Use Building 19-27 N. Main Street, Woodstown, NJ
Prime Corner Lot: 905-913 Glassboro Road, Monroe Township, NJ
6 Bay Car Wash 351 Wheat Road, Buena, NJ
Former Auto Dealership: 415 Chestnut Street, Elmer, NJ
3 Unit Retail - Condo: 927 Courthouse S. Dennis Road, Dennis Township, NJ
2353 Black Horse Pike, Monroe Township, NJ
NJ and PA Licensed Real Estate Broker Warner Real Estate & Auction Co., Inc. 53 East Avenue Woodstown, NJ 08098 Ph: (856) 769-4111 Website: www.WarnerRealtors.com
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