S hopping C enters N ew J ersey
Real Estate Journal — New Jersey — Section B
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M id A tlantic
Ezra Realty represents Harold Realty Management LLC Bussel Realty brokers sale of 970 New Brunswick Avenue in Rahway, New Jersey
AHWAY, NJ — Bussel Realty Corp. (BRC) announced the sale of 970 New Brunswick Ave. in Rahway, a 297,000 s/f indus- trial facility, for $19.5 million. Greg Irving , executive vice president, SIOR, and Jim Hodgkins , vice president, of BRC represented the seller, Rahway Industrial Sites . The buyer, Harold Realty Management LLC , was represented by Ezra Realty . “Rahway Industrial Sites and Bussel Realty Corp. have had a long-standing relationship and R HI-LIGHTS NOVEMBER 8 - 21, 2019
297,000 s/f and has 14- to 32-foot ceilings, 2,500 amps of heavy power, wet sprin- klers, gas heating, city water and sewer, two drive-ins, 20 exterior tailboards, and 100 free surface parking spaces. Bussel Realty Corp. an- nounced that Dharminder Singh has joined the com- pany’s brokerage division as a sales associate. “We are happy to have Dharminder as an addition to our brokerage team at BRC,” noted Steve Bussel, SIOR , president of BRC. “He is learning the North- ern and Central New Jersey industrial market and as- sisting our sales teams with clients and properties.” Singh will become a part of the growing Jordan
skyline. A freestanding pa- vilion defines the edge of the pedestrian plaza at the tower’s base, mirroring its planes and offering a distinctive public gathering place. 351 Marin is located in close proximity to popular restau- rants, bars and nightlife, in- cluding the recently opened Hudson Hall, an authentic European-style smokehouse and biergarten. The develop- ment is a three-minute walk from the Grove Street PATH station, offering ease of access to and from Manhattan. KRE led the transforma- tion of Marin Blvd. with its first residential project in the area, Grove Pointe, followed by 225 Grand, 18 Park, and most recently, 485 Marin. Situated at the front door to Hamilton Park, 485 Marin brought 397 carefully crafted apartments to the area, which were fully leased in under 10 months, along with a suite of modern amenities and a new public park, Marin Green. Designed by Melillo & Bauer Associ- ates, the park provides more than an acre of green space for residents and their neighbors to enjoy. Metz , senior vice president of BRC, Industrial Broker- age Team, specializing in the Port Newark/Elizabeth industrial submarkets. Singh formerly served as president of Pathway Trucking LLC in Kearny, New Jersey, where over- saw logistics, delivery ser- vices and negotiation of freight rates with vendors. He graduated from Rutgers University Business School with a Bachelors of Science Degree in Marketing and Management. Singh will specialize in Northern/Central New Jer- sey industrial markets, in particular those submarkets surrounding Port Newark/ Elizabeth and Newark Lib- erty Airport.
970 New Brunswick Ave.
we were happy to deliver on their expectations in the sale of the property,” said Irving. 970 New Brunswick Av- enue is located near Exit 12
of the New Jersey Turnpike and the Garden State Park- way with access to Routes 9, 27, and 35. Sitting on 10.5 acres, the property totals
KRE Group & Northwestern Mutual break ground on 351 Marin, mixed-use development
SPOTLIGHT CENTRAL NJ
JERSEY CITY, NJ — De- veloper KRE Group and Northwestern Mutual an- nounced a joint-venture agree- ment to develop a sculptural, 38-story tower that will bring 507 new luxury residences and a 4,500 s/f public plaza to one of Jersey City’s most desirable neighborhoods. Located at 351 Marin Blvd., the mixed-use development, which stretches from 1st to Bay Sts., will also be home to nearly 8,000 s/f of commercial space, 203 parking spaces and two floors of ameni- ties for its residents. The part- nership has broken ground on the building, branded as 351 Marin. “We’re excited to partner with Northwestern Mutual to bring a new, mixed-use development to this prime location in Jersey City,” said Jonathan Kushner , presi- dent of KRE Group. “351 Marin will offer its residents an exceptional downtown loca- tion and urban lifestyle with unmatched walkability, and we’re thrilled to work along- side Northwestern to bring this project to life.” “We’re very impressed with KRE’s portfolio of outstand-
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WHPOUNDS REP. OWNER IN LUMBERTON SALE
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351 Marin Blvd. rendering courtesy of Hollwich Kushner
ing residential projects and view 351 Marin as the perfect opportunity to partner with Jersey City’s preeminent de- veloper,” said Tom Zale, vice president and head of real estate investments at North- western Mutual. “As an inves- tor, large luxury apartment projects in thriving markets such as Jersey City have been an area of consistent success, translating to real value for our policyowners.”
Designed by architectural firm Hollwich Kushner in collaboration with HLW , 351 Marin will feature a faceted base, creating a dynamic and sculptural presence on Marin Blvd. Angular planes sliced through the base frame pock- ets of social activity around the tower, energizing the streetscape, while a soaring double-height facade rises to a geometric crown that harmonizes with the existing
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