S hopping C enters C entral NJ S potlight

M id A tlantic Real Estate Journal — Central NJ — August 19 - September 15, 2022 — 5B


Senior vice president Daniel Lanni arranges exclusive sale of 127 units Kislak sells Monmouth County, NJ multifamily portfolio for $34 Million

B ELMAR, NJ — The Kislak Company, Inc. announced the recent sale of a two-property multi- family portfolio in Monmouth County for $34 million. The portfolio includes a 92-unit property in Belmar and a near- by property with 35 units that was not disclosed. Kislak marketed the portfo- lio on an exclusive basis with senior vice president Daniel Lanni handling the assign- ment on behalf of the seller, and he also procured the purchaser. Both parties are longtime Kis- lak clients. Lanni commented, “These are trophy properties in A+ Jersey shore locations with significant value-add poten- tial. Although the transaction had its challenges, all parties involved worked well together to resolve issues and ultimately close at a record price per unit.”

Two-property multifamily portfolio in Monmouth County

The apartments in Belmar are ideally located on Ocean Avenue directly across from the Atlantic Ocean in the heart of coastal Belmar. The property includes 84 one-bedroom units and eight two-bedroom units, on-site parking and upside potential.

The second property includes six studios, 23 one-bedroom units and six two-bedroom units in a comparably ideal location and the property also offers upside potential. Monmouth County is located on the coast of central New Jer- sey along the northern half of

He specializes in the sale of multifamily and other invest- ment properties in central New Jersey with a particular focus along the Jersey Shore. He was the recipient of the firm’s 2011 Rookie of the Year Award and was promoted to a senior vice president in 2019. MAREJ

the Jersey Shore. As of the 2020 U.S. Census, its population was 643,615, making it the state's fifth-most populous county and representing a 2.1% increase since 2010. Daniel Lanni joined Kislak in 2010 and is consistently among the firm’s leading producers.

Steve Bussel of Bussel Realty Corporation represents seller in sale of 60 Leonard St. in Metuchen, NJ

METUCHEN, NJ — Bus- sel Realty Corp. (BRC) , a leading industrial/retail real estate services firm in New Jersey, today announced it rep- resented the sale of 60 Leonard St. in Metuchen, a 158,641 s/f industrial-building, for $23.8 million. Steve Bussel , president of BRC, represented the seller, P & V Wholesale & Distribution, and the buyer, Seagis Proper- ty Group , in the transaction. 60 Leonard St. in Metuchen, is a 158,641 s/f industrial property located near I-287 and Exit 10 of the New Jersey Turnpike. The property fea- tures 21-foot ceiling heights, 20 tailboards, +/-7,000 s/f offices, trailer parking and sits on 7.5 acres. EFSR sprinklers are be- ing installed. Currently, there is 63,238 square feet available for lease. About Seagis Property Group Seagis Property Group LP was formed in 2005 and is a leading investor and owner of industrial and logistics real estate with a particular focus

60 Leonard St.

Realty Corp. (BRC) is a lead- ing industrial/retail real estate services firm located in Central New Jersey with individual memberships in the Society of Office & Industrial Realtors (SIOR). BRC provides leasing and sales brokerage services

to users, corporate occupiers, landlords, retailers, owners, and investors, representing millions of square feet of prop- erty and tenant client assign- ments annually. The firm’s clients have included several of the largest Fortune 500 Com-

panies, as well as numerous manufacturing, distribution, retail and services companies both nationally and locally. Currently, BRC is handling in excess of three million square feet of corporate and industrial real estate in NJ. MAREJ

in New Jersey, New York City, JFK Airport, Eastern Pennsylvania, and Miami /Ft. Lauderdale markets. About Bussel Realty Corp. With one of the largest dedi- cated industrial brokerage staffs in New Jersey, Bussel

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