12A — December 24, 2021 - January 20, 2022 — M id A tlantic Real Estate Journal


M id A tlantic R eal E state J ournal

ORTHERN & CEN- TRAL, NJ — R.J. Brunelli & Co., LLC N Brokerage closes sales of Jersey Strong &Dollar Tree sites R.J. Brunelli completes sales of two properties in NJ

Weichert Commercial reps. buyer in 47k s/f portfolio sale

first transaction, Ms. Brunelli represented the landlord on a 1,973 s/f lease for Rita’s Ice at ITC Crossing South Shopping Center in Flanders. The store is expected to open in the first quarter of 2022 in an inline space previously occupied by Amy Murphy Salon, which re- located to a 5,000 s/f shop in the 514,903 s/f center. The Morris County property is anchored by Lowe’s, TJ Maxx, Michael’s and Bed, Bath & Beyond, and shadow-anchored by Walmart. R.J. Brunelli is exclusive leas - ing agent for the center, which is located near the intersection of Rtes.46 and 80. In Somerset County, Danielle Brunelli completed her latest lease for European Wax Center franchisees, signing the chain for a 1,419 s/f space at River- walk Village, a 50,000 s/f life- style center located at 665 Mar- tinsville Rd. in Basking Ridge. The shop is expected to open in the first quarter of 2022, joining a mix that includes Starbucks and various local retailers and restaurants. Brian Silbert of Silbert Realty represented the landlord on the transaction. Back in East Brunswick, senior sales associate John Lenaz signed Simos Insourcing Solutions to a 1,460 s/f space at 85 Main St., near Rte.18. The nationwide staffing company, whose clients include Wil- liams Sonoma, joins a mix at the 13,500 s/f strip center that includes 7-Eleven and a num- ber of local tenants. Bill Lenaz represented both the tenant and landlord on the lease, with R.J. Brunelli serving as leasing agent for the site. MAREJ responsible for leasing nearly one million square feet of re- tail space. Prior to working at Sabre, Helbling was at Breslin Realty working on retail leas- ing, and at Massey Knakal Realty where he primarily focused on investment sales. Helbling graduated from In - diana University in Blooming- ton with a Bachelor of Science in telecommunications. He is an active member of ICSC and is a licensed real estate broker in New York. Helbling is also a committee member of Kids for Kids Foundation to raise funds for St. Jude Children’s Research Hospital and on the REX Committee supporting human rights through UJA- Federation of NewYork. MAREJ

recently com- pleted a pair of 1031 Like- K i n d E x - change prop- erty sales and several leases for retail sites throughout northern and central NJ.

Jersey Strong health club “Both sales were executed as 1031 Like-Kind Exchanges, under which the sellers im- mediately use the proceeds to acquire other properties,” Mario Brunelli said. “These tax-advantaged transactions have fueled the tremendous upsurge we’ve been seeing in commercial property sales.” On the leasing front, sales associate Peter Miller repre- sented both the landlord and tenant on a deal that will see Performance Strength Academy expand its footprint at Dover Park Plaza in the Yardville sec - tion of Hamilton Twp.to 13,852 s/f. Under a previous transac- tion brokered by Miller, the fitness and personal training facility opened earlier this year at the Mercer County property in a 10,490 s/f inline space. In this newest transaction, Performance Strength leased an adjoining 3,362 s/f space previously occupied by a dance studio to add competition/ Olympic equipment for special - ized training, as well as other equipment. The new area is expected to open in the second quarter of 2022 at the 57,700 s/f anchored by CVS. Elsewhere, president & prin - cipal Danielle Brunelli com- pleted two leases for sites in northern New Jersey. In the

1100 Morris Ave.

iani, in the transaction. The buyer, COS Warehouse, was represented by Weichert Commercial . 1100 Morris Avenue, 971, 975 and 979 Lehigh Avenue is a 47,000 s/f portfolio of indus- trial/retail/office properties lo - cated adjacent to the Union NJ Transit Train Station. MAREJ than ever before. Remote work- ers need it for their careers, brands need it to sell goods online and massive events need it for international videoconfer- encing. The increased demand will create a 4.5% boom in the need for data centers. This is one of the most im- portant real estate trends in the commercial market because data centers require individual buildings. Commercial space is the best way to meet that need, so it will remain an investor priority throughout the com- ing year. 2022 Commercial Real Es- tate Industry Trends These are a few of the leading commercial real estate trends for 2022. Industry experts can count on them to guide inves- tor interests and guarantee better investments, even in a world that’s still getting back on its feet. Lee & Associates. MAREJ Schweitzer joined Freddie Mac’s team in 2008, serving as its managing director. He built a national underwriting team from the ground up to 50 professionals and a loan origination volume of more than $7 billion across 3,000 transactions. He holds a master’s degree in real estate from George- town University and a Bach- elor of Science degree in busi- ness administration from Muhlenberg College. MAREJ

UNION, NJ — Bussel Re- alty Corp. (BRC) announced it sold 1100 Morris Ave., 971, 975 and 979 Lehigh Ave. in Union, a combined portfolio of 47,000 s/f on over three acres, for an undisclosed amount. David Blitt , senior VP of BRC, represented the seller, Estate of James &Mary Emil - due to the outlook for commer- cial real estate. 4. Retail Owners Will Em- brace E-Commerce People initially increased their spending when pandemic discounts and stimulus checks merged. Experts predict that spending will remain high be- cause the pandemic introduced social safety nets that will last long term. It’s an economic influence that impacts the in - dustry outlook for commercial real estate. Business owners need bigger stores with room to keep more extensive inventories. They may also require warehouse spaces for additional stock- rooms. Anyone wondering what to look out for in commercial real estate in 2022 can count on the demand for rental space re- lated to e-commerce purchases. 5. Data Centers Are Crucial The internet is more critical HOWELL,NJ — GPAREN- CY has announced that Ben Schweitzer will serve as the firm’s chief product officer and co-founder. Schweitzer comes to GPARENCY following a 13-year tenure at Freddie Mac, where he held leadership positions in underwriting and technology, including as co- creator of the Small Balance Loan program and founder of the Multifamily Innovation Lab. These experiences will be key in Schweitzer’s new role as he develops and imple- ments strategies that bridge

Mario Brunelli

Representing property owner WOWPlaza III, LLC, the retail real estate brokerage sold a 25,000 s/f freestanding build- ing in East Brunswick housing a Jersey Strong health club to KHC Development, Inc. The site sold for $4.93 million at a 7.6% cap rate, according to Mario Brunelli , VP-invest- ment sales and principal of the Old Bridge-based brokerage. The buyer was represented by Ellen Quentzel of Jordan Baris, Inc. Realtors. “Jersey Strong has been operating at that location for over 10 years and signed a long- term lease with the building’s new owner to remain there,” said Mario Brunelli, who also represented Jersey Strong on the new lease. Mario Brunelli also repre- sented East Orange Retail Holdings, LLC on its sale of a 12,682 s/f Dollar Tree building at 325 Central Ave. in East Or - ange. Real estate investor Arie Wilensky acquired the central business district building for $2.9 million at a 7.4% cap rate. Dollar Tree will continue to operate at the site, where it has been a tenant for six years.

continued from page 2A CRE Trends in 2021-22

NEW YORK — Brian Katz , CEO of Katz & Asso- ciates announced that Russel Helbling joins Katz &Associates asmanaging director inNYC He has a top-notch portfolio of tenant representation accounts and has handled strategic roll-out plans in Long Island, NorthernNew Jersey, and New York City for brands including: Starbucks, Wendy’s Hamburg - ers, Sherwin Williams, Caliber Collision, Pep Boys, Mighty Quinn’s BBQ, PDQ, and Dollar General. Helbling is a QSR and fast casual guru. Helbling has joined Katz & Associates as managing di rec tor in Katz’s New York City of - fice. Helbling will be work- ing on tenant Russel Helbling

GPARENCY names Ben Schweitzer as chief product officer, co-founder the gap between banks and borrowers.

Equally active on the land- lord side, Helbling has been involved in numerous ground- up development leasing as- signments in Long Island and the Outer Boroughs of New York City. Helbling excels in working with landlords to mer- chandise retail components of their developments, and was

and landlord representation primarily in Long Island and the surrounding New York Metro region. Previously, Helbling spent the past 10 years at Sabre Real Estate based on Long Island where he worked on tenant and landlord representation.

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