November 2024

M id A tlantic Real Estate Journal — New Jersey — November 2024 — 19

www.marej.com

N ew J ersey E.V.P. Barry Waisbrod arranges sale of 108 new units in Burlington County Kislak sells newest phase of Mi Place At Rancocas in Mt. Holly, NJ for $33.6 Million

salespeople. He specializes in the sale of multifamily and other investment properties throughout New Jersey and its neighboring states. Mr. Wais- brod received the firm’s Sima Kislak Jelin Salesperson of the Year award in 2023, 2019, 2015 and 2013 and its Jay I. Kislak Producer of the Year award in 2023 and 2021. About The Kislak Company, Inc. The Kislak Company, Inc., which is headquartered in Woodbridge, NJ is a lead- ing commercial real estate brokerage firm consistently

recognized for its investment sales success. Established in 1906, Kislak’s market leader- ship 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 professionals. Kislak’s prestigious client base includes individual investors and owners, partnerships, financial institutions, and RE - ITs. The firm’s professionals provide comprehensive market coverage throughout New Jer- sey, New York, Pennsylvania, Delaware, and Florida. MAREJ

OUNT HOLLY, NJ — The Kislak Company, Inc. an-

nounced the recent sale of 108 units at Mi Place at Rancocas at 1 Foundry Blvd. in Mount Holly, Burlington County for $33.6 million. Kislak arranged the sale on behalf of the seller, multiple affiliates of Fernmoor Homes, a longtime client, and the pur- chaser, affiliates of California- based Universe Holdings. Mi Place at Rancocas is a newly-constructed, three story apartment complex on over five acres. The property was built in two phases with 232 units con- structed in 2015 and 108 units constructed in 2022. This re- cent sale was for the 108 units and the sale of the remaining 232 units is scheduled to follow in early 2025. Barry Waisbrod , executive vice president at Kislak said, “Following completion of the property, the seller sought to execute its sales strategy, and we procured a purchaser eager to add to its East Coast port- folio. There were various com- plexities with the transaction and each party and their teams worked diligently to resolve them until closing.” The 108 units consist of 48 one-bedroom apartments, 48 two-bedroom apartments and 12 three-bedroom apartments with modern kitchens and bathrooms, in-unit washers and dryers, walk-in closets, and individual balconies. Com- munity amenities across both phases of the property include a pool with clubhouse, business center, fitness center, sundeck, lounge, billiard room, a dog park, and on-site parking. The property is located in northwestern Burington Coun- ty 25 miles from Center City Philadelphia. It offers easy access to Interstate 95, Routes 206 and 38, and Interstate 295. The property is within walking distance of downtown Mount Holly with dining, shopping, and entertainment offerings. The township’s Main Street is considered a National Main Street Center, a subsidiary of the National Trust for Historic Preservation. The seller’s attorney was Ste- phen Kessler, Esq. , and the purchaser’s attorney was Joel Rosen, Esq. Financing was provided by Dwight Capital . Barry Waisbrod joined Kis- lak in 2001 and is consistent- ly among the firm’s leading

Mi Place at Rancocas

Rockefeller Group Logistics Center at Carneys Point 2 Buildings totaling 1,126,443 SF I Carneys Point, NJ

Properties That Perform

Rockefeller Group is dedicated to excellence in the built environment. Over the past five years, our development team and capital partners have completed more than 6 million square feet of industrial and logistics property throughout the Mid-Atlantic region with a current development pipeline of more than 10 million square feet in Maryland, New Jersey, Pennsylvania, and Virginia. Visit rockefellergroup.com to view our development pipeline in these states and nationally.

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