S hopping C enters S outhern NJ S potlight
M id A tlantic Real Estate Journal — Northern New Jersey — January 22 - February 18, 2021 — 5B
www.marej.com
Founding partner Kathy Anderson secures financing Progress Capital arranges $21.625 million multi- family construction loan in Gloucester City, NJ
G
LOUCESTER CITY, NJ — Kathy Ander- son of Progress Capi-
Amenities include a dog park with wash station, gated en- trance, delivery box lockers, BBQ stations with Pergola, fitness center, community garden and a clubhouse with a business center and party room. It’s also conveniently located close to Collingswood's shopping, dining and enter- tainment district, with easy access to Philadelphia via I-76 and PATCOHigh Speed Line. Since 1990, Progress Capi- tal has closed over $40 Billion in commercial loans and $150 million in directly funded bridge loans. As a commercial real estate advisory firm, we can advise you on any real estate investment you are considering and provide the financing advice you need to manage through the com- mercial real estate acquisition and/or financing process. We consistently get our clients to the closing table… plain and simple! MAREJ Founded in 1980, NAI Mertz is a leading full-service commer- cial real estate firm conducting business throughout the United States, and globally, from its regional offices in New Jer- sey, greater Philadelphia and northeastern Pennsylvania. The company provides expert services in brokerage, leasing, sales, investments, property management, site selection and construction management in the industrial, office and retail sectors. NAI Mertz’s clients include Fortune 500 companies, financial institutions, private investors, large public corpora- tions and small businesses. Its partnership with NAI Global, a top 5 commercial real estate brand, enables the firm to provide large-scale global real estate services. MAREJ Port of Philadelphia. The build- ing offers 17-foot clear ceiling heights, a wet sprinkler system and a fenced lot. About NAI Mertz
tal is ‘Get- tin’ it Done i n 2 0 2 1 ’ . The found- ing partner of the firm s e c u r e d a $ 2 1 . 6 2 5 million con- struction to
Kathy Anderson
permanent loan for the prop- erty located at 5 Meadow Ln. in Gloucester City. Investors Bank provided the following loan terms: • $21,625,000 Loan • 3.375% Fixed for 10 Years • 24 months I/O • 70% LTV • 30 Year Amortization Down with the old and in with the new! Seems quite fitting for the site that origi- nally contained 11-garden style apartment buildings that were demolished down
5 Meadow Ln. in Gloucester City During the renovation pro- cess, he realized that the condition of the buildings was such that it would be more beneficial to tear down the buildings completely and rebuild. River Pointe, a beauti-
to the foundation to make way for River Pointe Apartments, a newly constructed gated community on 2.81 acres. History: In 2017, Cyzner Properties acquired the site with a business plan to reno- vate the existing structures.
ful privately gated apart- ment community includes 11 garden-style apartment buildings with a total of 141 residential apartments. The unit mix includes (84) 1-bedroom/1-bath units and (57) 2-bedroom/2-bath units.
NAI Mertz’s Scott Mertz and Jonathan Klear completes Sale of 112,000 s/f industrial building in Mt. Laurel, NJ
MT. LAUREL, NJ — NAI Mertz , a leading full-service commercial real estate firm con-
ducting busi- ness through- out the Unit- e d S t a t e s , and globally, from its re- gional offices in New Jer- sey, greater Philadelphia and no r th - eastern Penn- sylvania, an- nounced that Scott Mertz, SIOR , presi- d e n t , a n d J o n a t h a n Klear , senior v i c e p r e s i -
Scott Mertz
103 Central Ave.
LLC, and seller CoreOne Indus- trial LLC, in this transaction. "It was an honor to represent CoreOne on this property, as we have represented them in the past to help grow their market share,” said Klear. “We also have served as long-time
exclusive leasing agents of this property, so it was nice to see this asset trade at nearly full occupancy,” he added. In May of this year, the NAI Mertz team successfully leased a 26,740 s/f unit at the build- ing to a local food packaging
company. One 16,000 s/f fully air-conditioned unit remains available for lease. Located just off Exit 36 of I-295, 103 Central Avenue is in close proximity to Rtes. 38 and 73, the New Jersey Turnpike, and is a 15-minute drive to the
Jonathan Klear
dent, recently completed the sale of 103 Central Ave., a 112,000 s/f industrial building in Mt. Laurel, New Jersey. The team represented the buyer, STAG Industrial Holdings,
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