M id A tlantic Real Estate Journal — New Jersey — January 22 - February 18, 2021 — 3B N ew J ersey


Sales and leasing volume total $600 million Kislak wraps 2020 with strong sales


unit property in Lancaster County, PA; -$35,000,000 sale of a 135-

- $13,200,000 sale of a 32,000 s/f mixed use office and retail building in South Orange, NJ; - $9,900,000 sale of 1.97 acres for development in Long Branch, NJ; - $6,200,000 sale of a 24,510 s/f office building in Red Bank, NJ; - $6,000,000 sale of an 80,000 s/f office building in Morris County, NJ; - $2,100,000 sale of a seven- acre redevelopment site in Poughkeepsie, NY; and - $850,000 sale of seven acres for warehouse development at the Flemington Trade Center in Flemington, NJ

Commercial leasing high- lights include the: - $8,500,000 office lease ex- pansion/extension for a trade association in Jersey City, NJ; and - Allegra Warehouse lease renewal at 6 Corporate Drive in Cranbury, NJ About The Kislak Company, Inc. The Kislak Company, Inc., which is headquartered inWood- bridge, New Jersey, is a leading commercial real estate broker- age firm consistently recognized for its investment sales success. Established in 1906, Kislak’s market leadership position and longevity are due to its ability

to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of profes- sionals. Kislak’s prestigious client base includes individual investors and owners, partner- ships, financial institutions, and REITs. The firm’s 35 profes- sionals provide comprehensive market coverage throughout New Jersey, New York, Penn- sylvania, and Delaware. Now in its 114th year, Kis- lak was among a select group of firms recognized as a 2019 Power Broker by CoStar Group, Inc. and this was the firm’s 14th consecutive recognition. MAREJ

OODBRIDGE, NJ — TheKislakCom- pany, Inc. reported

unit property in Somerset County, NJ; - $19,200,000 sale of an 85- unit portfolio i n B e r g e n County, NJ; and

strong invest- ment sa l es a n d c o m - mercial sales and leasing a c t i v i t y i n 2020 closing mo r e t han 140 transac- tions in New Jersey, Pennsylvania, and New York. Kislak’s total transaction vol- ume totaled six hundred million dollars and included the sale of more than 4,500 residential units and the sale and leasing of over 500,000 square feet of office, retail, and industrial properties. “We had a very strong first quarter, which was followed by an almost non-existent sec- ond quarter as we all worked to understand the health and safety guidelines and imple- ment new ways of safely con- ducting business while physi- cally distanced,” said Robert Holland , president. “Thank- fully, we transitioned quickly to remote operations while still productively and effectively serving our clients. The second half of the year, we were back on track ad keeping pace with the first quarter, and we ended the year strongly with sales totaling $600 million.” Peter Wisniewski , execu- tive vice president of Kislak’s commercial team, added, “Kis- lak’s team adjusted quickly to the changing demands of the market. We shifted to more user-investor and investment sales of commercial properties and had a banner year for that type of activity. However, as we entered the Summer, retail leasing became more active in our better markets to take advantage of more aggressive pricing as a result of the pan- demic. In all, we completed leasing assignments for multi- tenanted properties for several of our clients.” Multifamily sales highlights include the: - $62,000,000 sale of a 630- unit property in Dauphin Coun- ty, Pa.; - $50,000,000 sale of three properties with 324 units and land to building 69 units in New Jersey and Pennsylvania for an I.R.C. Section 1031 exchange; - $37,500,000 sale of a 790- unit property in Pittsburgh; PA; - $26,000,000 sale of a 164-

Robert Holland Peter Wisniewski

- $10,300,000 sale of a 112- unit property with 13 acres for development in Middletown, N.Y. Commercial sales highlights include the:


Manasquan, NJ 11 of 48 Condominiums Scott Davidovic ext 290 Michael Kossak ext 240 Tom Scatuorchio ext 255

Union City, NJ 21 Units + 1 Retail Daniel Lanni ext 248

Newark, NJ 17 Units + 4 Stores Michael Kossak ext 240

Freehold, NJ 26,250 SF Retail Daniel Lanni ext 248

The Kislak Company, Inc. | kislakrealty.com | 732 750 3000

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