8A — January 2025 — Southern New Jersey — M id A tlantic Real Estate Journal
www.marej.com
S outhern N ew J ersey
E.V.P. Joni Sweetwood arranges sale of 108 units in Cumberland County Kislak sells Park Towne Apartments in Vineland, New Jersey for $12 Million
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generated robust interest among investors. The pur- chaser owns in the market, was eager to expand its pres- ence there and I previously arranged other local sales between the parties so the transaction went smoothly de- spite financing challenges given interest rate fluctuations.” The sale marked the largest multifamily sale in Vineland and Cumberland County since 2022 according to data from CoStar. Built in 1952, Park Towne Apartments consists of 108 units in nine buildings on 2.31 parklike acres in suburban Vineland. The unit mix in- cludes 63 one-bedroom units, 36 two-bedroom units, two two- bedroom units with terraces and a rental office. Apartment features include air condition- ing, modern kitchens, hard- wood floors and high-speed internet access. The property is ideally cen- trally located near schools, shopping, and public trans- portation. Vineland is a city in southeastern New Jersey with 60,000 residents located 40 miles south of Philadelphia and 45 miles west of Atlantic City. Financing was provided by Fannie Mae . Joni Sweetwood joined Kislak in 1996 and is one of the firm’s all-time leading salespeople consistently ranking as a top producer each year. She has won numerous sales awards, including the Sima Kislak Jelin Salesperson of the Year award, the company’s Producer of the Year award five times and the company’s Sales Transactions award for the most closed sales transactions in the last three years. Sweetwood has also been recognized repeatedly as one of New Jersey’s Commercial Broker All Stars and the Mid Atlantic Real Estate Journal’s Executive Women in Business. Her career investment sales total more than $1.3 billion. About The Kislak Co., Inc. The Kislak Company, Inc., which is headquartered in Woodbridge, NJ, is a leading commercial real estate broker- age firm consistently recog- nized for its investment sales success. Established in 1906, Kislak’s market leadership po- sition and longevity are due to its ability to offer clients a per- sonalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals. MAREJ
INELAND, NJ — The Kislak Company, Inc. announced the
recent sale of Park Towne Apartments, a 108-unit multifamily property at 51 West Chest- nut Ave. in Vineland, Cumberland County, for $12 million.
Joni Sweetwood
Park Towne Apartments
LLC. Executive vice president Joni Sweetwood handled the assignment and also procured the purchaser, Park Towne
Kislak marketed the prop- erty on an exclusive basis on behalf of the longtime owner and client, Park Towne Apts,
Apartments, LLC, an affiliate of a longtime client. Sweetwood said, “The offer- ing presented an attractive
opportunity to acquire a well performing and fully occupied property in a strong rental market and our marketing
EXCLUSIVE PROPERTIES FOR SALE
Mansfield, NJ 3.44 Acres with Approvals
Union City, NJ 1.54 AC Land for Redevelopment
Belleville, NJ 28 Residential Units Tom Scatuorchio ext 255 Matt Weilheimer ext 253
Matt Weilheimer ext 253 Tom Scatuorchio ext 255
Matt Weilheimer ext 253 Tom Scatuorchio ext 255
Union City, NJ 13 Residential Units Robert Squires ext 287
Somerville, NJ 45,000 SF Max Levinston ext 308
Freehold, NJ 13,674 SF Retail Daniel Lanni ext 248
The Kislak Company, Inc. | kislakrealty.com | 732 750 3000
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