8B — September 15 - 28, 2017 — Northern New Jersey — M id A tlantic

Real Estate Journal


N orthern N ew J ersey

Perkins receives SIOR Award for Largest New Jersey Office Sale in 2016 Highlighting strong demand for industrial assets in NNJ, NAI Hanson inks 157,822 s/f sale F mile from Rte. 206 and offers access to Rte. 46 and I-78, 80 and 287. “We have

landers, NJ — NAI James E. Hanson has brokered the sale of a 157,822 s/f industrial building at 700 Bartley Chester Rd. in Flanders. NAI Hanson’s John Schilp represented the seller, 700 Bartley Chester Road, LLC and Josh Levering, SIOR , represented the buyer, CRG 700, LLC, in the NAI James E. Hanson transaction. NAI Hanson’s relationship to the property extends almost thirty years as Schilp sold the land to build 700 Bartley Chester to the original owner in 1988. The buyer, CRG 700,

seen a sus- tained short- age of avail- able indus- trial space amidst un- w a v e r i n g s t r ong de - mand from distribution and wa r e - housing us- ers in tradi- tional mar- kets such as t he Mead - owlands and Port Newark and El i za - beth,” said Schilp. “As c ompan i e s look west for a f f o r d a b l e and ava i l - able indus- trial space, regions like Morris Coun-

700 Bartley Chester Rd.

John Schilp

LLC, purchased the property as a long-term industrial in- vestment due to the continued high demand for well-located, over 100,000 s/f industrial

properties and the attractive terms of the current lease. The property’s tenant, Uncommon Logistics, has occupied the entirety of the building since

2011 and signed a 7-year lease extension earlier this year. 700 Bartley Chester Rd. is well-located in a Designated Free Trade Zone less than a

There’s a reason why they all borrowed from us.

Josh Levering

$20,000,000 Mortgage

$12,500,000 Mortgage

Refinance 376 Unit Apartment Building Burlington County, NJ

Scott Perkins

ty are becoming more attrac- tive plays for investors search- ing for lower barriers to entry to acquire stable and income- generating properties.” Scott Perkins, SIOR, CCIM, managing director - corporate services of NAI James E. Hanson was the recipient of the 2016 Award for Largest Office Sale by the New Jersey Chapter of the Society of Industrial and Office Realtors (SIOR) for his efforts in the sale of an 83,222 s/f office building located at 216 Route 17N in Rochelle Park. n stages, that was changed with the restoration, reuse and market delivery of the Hahne’s Building, which includes 160 new apartments,” said Jarvis. “Proving that redevelopment can and does serve as a catalyst for revitalization and gentrifi- cation of existing properties, multi-family investors are seeking to gain entry or expand upon their presence in Newark. As a result, they are combing the skyline for existing proper- ties with value-add potential to house the city’s workforce and its residents.” n continued from page 6B Gebroe-Hammer Associates . . .

Refinance Mixed-Use Building Hoboken, NJ

Refinance Commercial Buildings Mercer County, NJ $9,000,000 Mortgage

Our Special Brand of Personal Service Each client receives the closest attention. We have the know-how and experience to help with nearly any project, to speed approvals and eliminate possible problems before they arise. So when you’re ready for commercial financing, no matter the size or complexity of the project, think local…think Kearny Bank.

$14,000,000 Mortgage Refinance Commercial Building Brooklyn, NY

$17,100,000 Mortgage Refinance 153 Unit Garden Apartment Complex In Pennsylvania

$8,000,000+ Construction Loan

Apartment Complex Wallington, NJ

1-800-273-3406 • 42 Banking Offices • kearnybank.com

Made with FlippingBook flipbook maker