M id A tlantic Real Estate Journal — New Jersey — July 2024 — 25A
www.marej.com
N ew J ersey
7.24
Cushman & Wakefield’s Tri-State Capital Markets closed in excess of $2.4 billion of office, industrial, retail, land and multifamily transactions in the past 12 months. RECENT SUCCESSES & NEW DEALS
MARKETING
THE HOBOKEN COLLECTION Hoboken, NJ 132,700 SF
340 MOUNT KEMBLE AVE Morristown, NJ 439,059 SF
2401 LOCUST STREET Philadelphia, PA 46,319 SF 4-story boutique telco hotel, anchored by Verizon. 86% occupied with $41.78 average rent. 32% NOI
100% leased retail portfolio in Hoboken’s upscale residential communities, Maxwell Place & Hudson
Class A+, 4-story office building 95% leases to investment grade tenants. $50M
Tea. Below market rents with 24% rent increase and 29% NOI growth over 10 year hold.
renovation project with glass facade, new roof, and complete lobby, & common area
growth potential over 10 year hold.
SOLD
574 SPRINGFIELD AVE Westfield, NJ 31,612 SF Boutique medical facility with 20 year sale-leaseback to
TOTOWA COMMERCE CENTER
12 DANIEL ROAD Fairfield, NJ 100,000 SF 4.99 acres with 73,000 SF warehouse + 27,000 two-story office. 20- 24’ clear, 5 loading positions, 165 parking spaces, 3000-amp, 277/480-volt distribution panel
Totowa, NJ 506,723 SF
13 building industrial park + 5.8-acre development site. 87% occupied by 50+
Summit Health. On-site urgent care, MRI, imaging, and lab services
tenants with <3-year WALT. Development parcel approved for 35,000 SF industrial building
CAPITAL MARKETS GROUP
ANDREW MERIN andrew.merin@cushwake.com DAVID BERNHAUT david.bernhaut@cushwake.com GARY GABRIEL gary.gabriel@cushwake.com NIKO NICOLAOU niko.nicolaou@cushwake.com KYLE SCHMIDT kyle.schmidt@cushwake.com FRANK DITOMMASO frank.ditommaso@cushwake.com ANDREW SCHWARTZ andrew.schwartz@cushwake.com DAVID OROPEZA david.oropeza@cushwake.com
DAVID JARVIS david.m.jarvis@cushwake.com JUSTIN LUPO justin.lupo@cushwake.com RYAN DOWD ryan.dowd@cushwake.com RYAN LARKIN ryan.larkin@cushwake.com SETH ZUIDEMA seth.zuidema@cushwake.com BILL BAUNACH bill.baunach@cushwake.com MAX HELFMAN max.helfman@cushwake.com JORDAN SOBEL jordan.sobel@cushwake.com
ANDRÉ BALTHAZARD andre.balthazard@cushwake.com PETER WELCH peter.welch@cushwake.com JEAN-PIERRE HOHL jeanpierre.hohl@cushwake.com MAIA SIRABIAN maia.sirabian@cushwake.com MICHAEL GUERRA michael.guerra@cushwake.com DANIEL MASSRY daniel.massry@cushwake.com SAMANTHA MILLER samantha.a.miller@cushwake.com MORGAN BRECHMAN morgan.brechman@cushwake.com
DAVID BETESH david.betesh@cushwake.com RYAN KELLY ryan.kelly1@cushwake.com DAN BOTTIGLIERI daniel.bottiglieri@cushwake.com CUSHMAN & WAKEFIELD, INC. CAPITAL MARKETS GROUP One Meadowlands Plaza, 7th Floor East Rutherford, NJ 07073 T / +1 201 935 4000 E / investment.sales@cushwake.com
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