Real Estate Journal — New Jersey — March 11 - 24, 2016 — 11B
www.marejournal.com
M id A tlantic
N orthern N ew J ersey
Tom Vetter and Jeff DeMagistris represent seller Sitex Group NAI Hanson completes 53,152 s/f sale of new Meadowlands Industrial Building
Brian Niven brings veteran experience to Bridge Dev. NEW JERSEY — Bridge Development Partners, LLC announces the addition Jersey-based full-service in- dependent commercial real estate firm, announces it has brokered the sale of a newly constructed 53,152 s/f indus- trial building in Carlstadt, to Loftex Logistics, LLC, a Chi- nese textile company. Loftex Logistics, LLC will use the property as its first fulfill- ment and distribution center in the United States. NAI Hanson’s Tom Vetter, SIOR and Jeff DeMagistris, SIOR represented the seller, Sitex C Storage group across the U.S. Niven joins the firm from J- Power USA Development Co., Ltd. where he was responsible for project origination and development in the U.S. Mr. Niven served as an active duty U.S. Army Infantry of- ficer seeing tours in Iraq and Afghanistan and as an intel- ligence analyst while serving in the Reserves. He holds a bachelor’s degree from the Virginia Military Institute and an MBA from Loyola University of Chicago. Niven lives in Barrington with his wife and three children. “We are looking forward to Brian growing our “cold stor- age” development and acqui- sition business nationally”, said Bridge Development co-founder Steve Poulos . “Brian’s background develop- ing and managing complex as- sets is a perfect fit for state-of- the-art cold storage facilities”, adds Bridge Development principal Tony Pricco . Bridge Development Part- ners, LLC is a privately owned firm focused on the develop- ment and acquisition of in- dustrial and office real estate in the Chicago, South Florida, Los Angeles and Northern New Jersey regions. n Brian Niven ARLSTADT, NJ — NAI James E. Han- son , a leading New of Brian Niv- en to the firm in the role of principal – cold storage. Br i an wi l l be respon- sible for the growth of the Bridge Cold
class A warehouse facilities available in the Meadowlands submarket” said Vetter. The space and its location were so desirable that Loftex Logistics, LLC went under contract on the property before construc- tion even started. We will con- tinue to see quick absorption of new, quality industrial assets within the Meadowlands sub- market due to very little land available for development, its close proximity to New York City and the emergence of e- commerce.” Century 21 New Begin- nings Realty represented the buyer. n
Group . The newly constructed in- dustrial building located at One Palmer Terrace boasts 32’ clear ceiling heights, 52’ x 60’ column spacing, five loading docks with 30,000 lb. capac- ity levelers and one drive-in door. The warehouse also has energy efficient T-5 fluorescent lighting. There are 41 on-site parking spaces as well as a 130’ truck court with a 60’ concrete apron. “Our client, Sitex Group, one of the most active buyers and developers of industrial real estate in Northern New Jersey, acted quickly and closed with-
One Palmer Terrace
out contingencies on the ac- quisition of the property. The site was previously improved with an office building. Sitex
had the vision to redevelop the site into a state-of-the-art warehouse/distribution cen- ter, creating one of the only
BRIDGING CAPITAL TO REAL ESTATE OPPORTUNITY
DEVELOPING CLASS-A WAREHOUSE DISTRIBUTION BUILDINGS RANGING FROM 250,000 TO 1,000,000 SF LOCATED WITHIN SUPPLY-CONSTRAINED NEW JERSEY MARKETS
NEW JERSEY JEFF MILANAIK, PRINCIPAL • JOHN PORCEK – PRINCIPAL ONE GATEHALL DRIVE, SUITE 201 • PARSIPPANY, NJ 07054 • 973-998-9890 WWW.BRIDGEDEV.COM
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