26 — May 2026 — New Jersey — M id A tlantic Real Estate Journal
www.marej.com
N ew J ersey
Horvath & Tremblay sells Dunkin’ & USPS in Hopatcong
Goldfinger inks 4 deals at Garwood Commerce Center Bussel Realty Corp. closes six leases totaling 48,050 s/f
ARWOOD, SOUTH PLAINFIELD & MARLTON, NJ — Bussel Realty Corp. (BRC) arranged several New Jersey lease transactions spanning the industrial and retail sectors. Leading the activity, Jef- frey Goldfinger , vice presi- dent of Bussel Realty Corp. completed four industrial lease transactions totaling 41,800 s/f at Garwood Com - merce Center, a 235,000 s/f multi-tenant industrial com- plex located in Garwood. Goldfinger arranged the leas - es on behalf of the landlord, ACP Partnership, including: • 20,350 s/f at 502 South Av - enue leased to Speedfast LLC • 10,150 s/f at 536 South Avenue leased to Just Logistics Group Inc. • 8,000 s/f at 512 South Av - enue leased to Sundaddy LLC • 3,300 s/f at 626 South Av - enue leased to OM Creation In the transactions, Speed- fast LLC was represented by TEC Real Estate , while Just Logistics Group Inc. was rep - resented by Kassan Sabbagh Realty . Sundaddy LLC was represented by the J aynes Industrial Group of Bussel Realty Corp. , and OM Cre - ation was represented in-house. “The spaces at Garwood Commerce Center are ideally suited to meet the operational needs of today’s industrial us- ers, offering functional layouts, strong infrastructure, and flex - ibility for growth,” said Gold - finger. “In addition, the prop - erty’s strategic Union County location provides outstanding access to Port Newark/Eliza - beth, major highways, and New York City-area customers, making it an excellent choice for logistics, distribution, and light industrial tenants.” Garwood Commerce Center is strategically located near the New Jersey Turnpike, Routes 1&9 and 22, and the Garden State Parkway, provid - ing convenient access to Port Newark/Elizabeth, Newark Liberty International Airport, and the greater New York City metropolitan area. The 235,000 s/f property sits on 10 acres and features a combina- tion of tailboard and drive-in loading, wet sprinkler systems, ample electrical capacity, and abundant truck and passenger vehicle parking. In South Plainfield, Goldfin - ger has completed an industrial lease transaction for 6,250 s/f G
Dunkin’ and USPS in Hopatcong
crease at the start of the option period, while the Dunkin’ lease features annual rent increases throughout the remaining term, providing the investor with steady revenue growth and a hedge against inflation. Dunkin’ and USPS are prominently situated in the core of downtown Hopatcong and benefit from visibility and frontage along a well- traveled local thoroughfare. The property offers two points of access and ample on-site parking, allowing for efficient circulation and ease of entry. Its proximity to Hopatcong’s municipal offices and civic functions supports consistent daily activity in the surround- ing area. The immediate area features a concentration of local retailers, restaurants, professional services, and established residential neigh- borhoods that provide a stable customer base. In addition, the property offers connectivity to Interstate 80 and U.S. Routes 46 and 206, providing access to the broader Sussex and Morris County markets and nearby retail concentrations. MAREJ
HOPATCONG, NJ — Mi- chael Lombardi of Horvath & Tremblay has successfully com- pleted the sale of a Dunkin’ and USPS in Hopatcong. Horvath & Tr emb l ay represented the seller and sourced the buyer to com- plete the transaction at a sale price of $2.5 million. The property, located at 32 Durban Ave., is a two-tenant asset improved by a 7,104 s/f building situated on a 0.78-acre corner parcel. Con - structed in 1980, the property is leased to Dunkin’ and the United States Postal Service. Dunkin’ originally signed a 10-year lease in 2008 and executed a 10-year extension in 2018, with more than two years remaining on the cur- rent term. The USPS began a new five-year lease in 2025 with more than four years remaining, plus one five-year renewal option. The USPS lease includes a 10% rent in - RANDOLPH, NJ — LJS Development has broken ground on Sussex Woods, a 25- unit, 100% affordable residen - tial community located at 1162 Sussex Tpke. in Randolph Twp. Upon completion, Sussex Woods will feature 25 apart- ment homes serving residents with average median incomes ranging from 20% to 60%. Of the 25 units, six are spe - cifically set aside for the New Jersey Healthy Housing pro - gram, featuring full handicap accessibility, and three units will be dedicated to popula- tions served by the Division of Developmental Disabilities. The development team in - cludes Inglese Architecture, LeChase Construction, Bowman Engineering and EcolSciences. DayPitney and TUS Advisory Group are among the project’s profes- sional services providers. Michael Lombardi
Garwood Commerce Center
635 Montrose Ave. in South Plainfield
701 Route 70 in Marlton
at 635 Montrose Ave., on behalf of GMS Distributors LLC. The property is part of a 59,740 s/f multi-tenant industrial prop- erty owned by Adler Develop- ment , which was represented in-house in the transaction. GMS Distributors is a New Jersey-based importer and wholesale distributor of spe- cialty food products, with a focus on South Asian grocery items, spices, culinary pastes, and packaged food goods. The company sources products from India and other international markets, supplying retailers throughout the tri-state region. The new South Plainfield fa - cility will support its growing warehousing and distribution operations, providing the com- pany with expanded capacity to serve its customer base across the region. “635 Montrose Avenue checks every box for a growing dis- tribution-oriented user,” said Goldfinger. “The property’s location at the crossroads of Central New Jersey’s premier highway network with direct access to I-287, the New Jersey
Turnpike, and multiple major arterials makes it ideally suited for a company that depends on efficient, timely delivery to re - tailers across the region.” The industrial complex of - fers exceptional regional con- nectivity. The property sits in close proximity to I-287, the New Jersey Turnpike, Routes 1–9, 35, and 440, the Garden State Parkway, and the Out - erbridge Crossing providing direct access to Staten Island and Brooklyn, New York. The building features 20-foot-high clear ceilings, 12 loading docks, wet sprinkler systems, 120 amps of power, and 100 surface parking spaces, making it well- suited for warehouse, and light industrial users. Adler Development, based in Edison, is a full-service real estate development firm with a portfolio that extends from Bergen to Burlington counties. Their combined holdings, built over the 50-plus-year history, comprise nearly two million square feet of warehouse, office, and flex space, as well as 800 apartment units. MAREJ
LJS Development launches 25-unit affordable housing project in Randolph
The project is supported by a collaborative public-private funding structure through Fulton Bank as well as state funding through NJDCA Af- fordable Housing Trust Funds and NJ Healthy Housing Initiative Capital and Morris County HOME Funds . MAREJ Shown from left: Twp. manager Gregory Poff; Councilmember Joe Hathaway; Deputy Mayor Lou Nisivoccia; Lara Schwager, LJS De - velopment; Mayor Mark H. Forsten - hausler; Deborah G. Gennello, LJS; Councilmember Joanne Veech; and Councilmember Denise Thornton.
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