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R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news

Posner of Bussel represents owner in the transaction Bussel Realty Corp. leases 111,000 s/f at 150 Pacific Ave. in Jersey City, NJ J ERSEY CITY, NJ — Bussel Realty Corp. (BRC) , a leading corpo-

ISSUE HIGHLIGHTS Volume 26 Issue 8 April 25 - May 15, 2014 CMC arranges $16.05m loan for portfolio

rate and in- dustrial real estate ser- vices firm in New Jersey, announced A t l a n t i c USA Hold- i n g s I n c . has l eased

David Posner

111,000 s/f of industrial space at 150 Pacific Ave. in Jersey City, New Jersey. Senior vice president David Posner of BRC was responsible for the transaction and represented the owner, Eden Wood Re- alty . “150 Pacific Avenue’s im- mediate proximity to I-78, the Holland Tunnel and the Port of Newark/ Elizabeth provides Atlantic USA Holdings with the access needed for its cus- tomers to reach the Port and Manhattan quickly,” said Pos-

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150 Pacific Ave.

ner. “This transaction brings the 350,000 s/f property to 100 percent occupancy.” 150 Pacific Ave. is a 350,000 s/f industrial facility located near I-78, Routes 440 and 1&9 with immediate access to the

Holland Tunnel, the Pulaski Skyway, the Port of Newark/ Elizabeth and Newark Liberty International Airport. The property features 15-foot to 28-foot clear ceiling heights, 50-foot by 35-foot column spac-

ing, 2000 amps of power, eight loading docks and 35 parking spaces. Atlantic USA Hold- ings is a public warehouser and will utilize the facility to service the distribution needs of its customers. n

Smith of NAI Summit represents the owner in the 44,489 s/f deal NAI Summit represents owner in $6.15 million sale of Muhlenberg medical office building

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With NAI Summit’s lengthy history and involvement with the building, it was a clear choice for the owners on who would represent them in the sale. According to Robert D. Solomon, D.D.S., P.C., manag- ing partner for MHC Associ- ates, “it has been a pleasure working with NAI Summit over the past 20 +years” and that he felt like NAI Summit was with them “every step of the way.” The medical office building was relatively new when MHC engaged the firm to handle the property man- agement for the partnership. Solomon said that NAI Sum- mit’s “team of professionals has always been responsive, accurate and reliable with any request we made. NAI Summit’s market knowledge was second to none and your financial analysis and insights proved to be invaluable in guiding us through all of the negotiations and the process to closing.” n

BETHLEHEM, PA – NAI Summit ’s Frank Smith rep- resented the owner, MHC Associates, in the sale of a recently renovated three story premier medical office build- ing to Lehigh Valley Health Network. The building sold for $6,150,000. Built in 1989 and renovated

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325 S. Salem Church Rd.

Upcoming Spotlight May 16, 2014 NJAA EXPO & CONFERENCE

2597 Schoenersville Rd.

in 2011, NAI Summit has pro- vided management services for the medical office building located at 2597 Schoenersville Rd. in Bethlehem, PA for the past 27 years. The 44,489 s/f building sits on the Lehigh

Valley Hospital Muhlenberg Campus and has easy access to Route 22. This building fit well into the overall strategic plans for LVHN. NAI Summit assisted both parties to make the process seamless.

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