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udson County, NJ — Gebroe-Ham- mer Assoc iates ’ H 118-building, 2,137-unit portfolio encompasses six separate packages Gebroe-Hammer arranges $327.9M Gateway portfolio multi-family sale units, amounting to an annu- alized inventory growth rate of 3.7%. Over the same period, the Northern NJ metro growth rate has been 1.4%. managing director Joseph Brecher procured the buyer, Optimum Holdings LLC.

ISSUE HIGHLIGHTS Volume 30, Issue 11 June 8 - 22, 2018

marked the highest concentra- tion of for-sale stabilized assets in Hudson County ever to come to market at a time when ask- ing rents for this apartment submarket are expected to advance upward of 6% over the next couple of years.” The largest of the six pack- ages involved a total of 67 buildings sold for $190.65 mil- lion in West New York (47 buildings/993 units), Jersey City (12 buildings/175 units), North Bergen (6 buildings/76 units) and Guttenberg (2 build- ings/28 units). While this trade registered a $150,000 per-unit price, the second largest pack- age averaged a $165,000 per- unit price, selling for $97.021 million. In total, the latter involved 35 buildings and 588 units throughout Jersey City’s Journal Square and Jersey City Heights neighborhoods. In both transactions, Nicolaou repre- sented the seller and executive

seni or v i ce p r e s i d e n t N i c h o l a s Nicolaou has finalized the disposition of a 118-build- i ng , 2 , 137 - unit Hudson County multi-

“Jersey City’s urban infill neighborhoods are reaping the benefits, so to speak, of westward expansion that is extending redevelopment fur- ther away from the Gold Coast waterfront,” added Nicolaou. “In turn, this is drawing a new post-undergrad millennial ten- ant pool with two-to-three-year- old professional careers who crave the affordability, transit accessibility and lifestyle of the ‘Brooklyn of NJ.’” According to REIS, the Hudson County apartment submarket has 54,820 units, amounting to 23.5% of the total metro inventory, and is the largest of the seven com- petitive Northern New Jersey submarkets. In the 10-year period beginning with Q2 2008, new additions to the submarket have totaled 16,568

“The out-of-state seller rec- ognized the time was right to shed these assets,” added Nicolaou. “Hudson County’s ‘boom’ years are far from being fully realized and multi-family investors – from private indi- viduals to institutional entities – are seeking to either gain entry or expand their holdings through the purchase of exist- ing product or development- deal acquisitions.” Rounding out the portfolio sale was another Jersey City/ Journal Square deal garner- ing $190,000 per unit; two separate Union City transac- tions totaling 10 buildings/164 units averaging $140,000 per unit; and a West New York five-building, 105-unit pack- age sold for $15.15 million.  square footage they need for their growing operations, plus gives them a modern, first-class facility in an ideal location for ecommerce fulfilment in the New York metropolitan area.” 1000 High St. is one of three new industrial buildings known as the ePort Logistics Center that Duke Realty owns just off NJ-440 (I-287) and east of I-95 in Perth Amboy. The building features 36’ clear height, 44’-6” x 55’ column spacing, 63 dock doors, and 2 drive-in doors. Outside of the building is a 130’ truck court and parking for 218 automobiles and 117 trailers. Ken Lundberg with NAI Hanson and Julie Huang with ACJ International Re- alty represented 4PX Express in the lease, while Duke Realty was represented by Ben Rosen and Caitlin English and its listing agents Thomas Mona- han, Stephen D’Amato and Larry Schiffenhaus with CBRE. 

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Creative Financing

Nicholas Nicolaou

Section 9-23A

family portfolio on behalf of a single seller, a private unnamed investor. In total, the Gateway portfolio was broken out into six separate packages sold for a combined total of $327,846,200. The properties are located throughout Jersey City, West New York, North Bergen, Gut- tenberg and Union City. “The Gateway Portfolio in its entirety and as separate pack- ages presented an extremely rare multi-family investment opportunity,” said Nicolaou. “It

D2 Capital Advisors arranges $34.7M

NAI Hanson & ACJ Int’l. Realty reps. lessee in 354,250 s/f transactions Duke Realty signs lease with 4PX Express for ePort 1000 in Perth Amboy, New Jersey

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MAREJ Events June 20, 2018 NJ CRE Forecast Conference For speaking and sponsorship information, please contact: Lea at 781-740-2900 or lea.christman@marejournal.com

Perth Amboy NJ — The New Jersey office of Duke Re- alty has leased ePort 1000, its 354,250 s/f warehouse at 1000 High St. in Perth Amboy to 4PX Express USA, a 3PL focused on ecommerce fulfillment and logistics solutions. Duke Realty acquired ePort 1000 in Novem- ber 2017 as part of a 3.1 million

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ePort 1000

s/f New Jersey industrial port- folio purchase that includes six completed buildings and two development sites located along the I-95 corridor. “4PX Express had been look- ing for a larger facility for their operations for several months.

We were pleased to learn of their space needs and be able to propose our new ePort ware- house as a solution,” said Ben Rosen , vice president of leas- ing and development for Duke Realty in New Jersey. “This building provides 4PX with the

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