Mid Atlantic Real Estate Journal — New Jersey — March 16 - 29, 2012 — 23A


Sales Associate Julie Gralla leads Sale of Retail, Office & Multifamily Properties The Kislak Co. completes $4.8 million New Jersey investment sales W N ORTHERN N EW J ERSEY OODBRIDGE, NJ, February 28, 2012— The Kislak Compa- immediately began receiving offers from interested clients and prospects. Hills,” said Gralla.

demonstrates the strength of the market for multifamily properties,” added Gralla. The purchaser obtained fi- nancing from Columbia Bank. The seller was represented by Stuart D. Minion, Esq. of Minion & Sherman of West Caldwell, New Jersey and the purchaser had self-representa- tion. The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is an investment sales company serving the multifamily and retail markets. ■

The transaction was all- cash. The seller was repre- sented by Ned Cohen, Esq. of Cohn, Bracaglia & Gropper, PC of Somerville, New Jer- sey and the purchaser was represented by Jonathan Mehl, Esq. of Rutherford, New Jersey. The Short Hills building was a former bank branch and office that was vacant for more than four years. Kislak obtained an exclusive listing from the seller and almost

The transaction was all-cash. The seller was represented by Howard S. Roitman, Esq. of Eiseman Levine Lehrhaupt & Kakoyiannis, P.C. of NewYork, New York and the purchaser was represented by Roberta Weisinger, Esq. of Fort Lee, New Jersey. The Garfield property is a three story all brick building with seven units including one and two bedroom units. “The $100,000-plus per-unit price

ny, Inc., the d o m i n a n t investment real estate sales firm in the tri-state region, an- nounced the $4,785,000 sale of three

The property is located in an A+ location in downtown Short Hills, between Route 24 and downtown Millburn. It had great potential for us- ers and investors. It is also located on the border of a proposed redevelopment zone in the Short Hills section of Millburn Avenue. “The pur- chasers intend to occupy and use the building, and were attracted to its location near the commercial heart of Short

Julie Gralla

investment properties in northern New Jersey. The transactions include the $3,100,000 sale of Hastings Square, a 28,000 square foot retail and office complex in Long Valley; the $975,000 sale of a 6,700 square foot office building in downtown Short Hills; and the $710,000 sale of a seven-unit multi- family property in Garfield. In the Long Valley sale, senior vice president Joni Sweetwood represented the seller and sales associate Julie Gralla represented the purchaser. Gralla also repre- sented the seller in the Short Hills sale and both parties in the Garfield sale. “Julie is our newest sales- person,” said Robert Holland, president and co-managing director. “In less than a year, she has proven to be a very determined, focused, and results-oriented salesperson. Our clients are very pleased with her efforts and work ethic and these sales are a testament to her hard work. Julie has a promising career ahead of her.” Hastings Square is located amid a planned unit devel- opment in suburban Morris County and includes 24,000 square feet of retail space and 4,000 square feet of of- fice space. Kislak obtained an exclusive listing from the seller and generated strong interest among investors. “The property was nearly fully occupied with only one retail vacancy and one office vacancy,” said Gralla. ‘The purchasers were attracted not only to the location, but also to the property’s po- tential. The purchasers are working closely with an ar- chitect to renovate and repo- sition the property. I have great faith in the future of Hastings Square.”

Success is a done deal.

$158,000,000 Multifamily Portfolio 2,366 UNITS NJ, NY, PA, & CT LOCATIONS LENDER: FREDDIE MAC



$11,940,000 RBS Citizens Bank Portfolio - 16 BRANCHES NY, CT, PA & DE LOCATIONS LENDER: REGIONAL BANK

Capital Markets


New Jersey Office ONE GATEHALL DRIVE, SUITE 101 PARSIPPANY, NJ 07054 973.538.2330

Gary Cohen SENIOR VICE PRESIDENT 973.944.5724 gcohen@northmarq.com

Greg Nalbandian MANAGING DIRECTOR 973.944.5728 gnalbandian@northmarq.com

33 offices coast-to-coast

Made with FlippingBook - Online Brochure Maker