12C — April 25 - May 15, 2014 — Shopping Centers — M id A tlantic

Real Estate Journal


S hopping C enters

Portfolio includes 10 retail spaces in Hoboken, NJ Kislak completes $18.25m sale of 16,000 s/f mixed-use



the most desirable and fast- est-growing residential and retail markets in the region known as the Gold Coast. The retail tenants, including Ve- rizonWireless, are located on a prime corner directly across from Hoboken city one block from a CVS and Office Depot . “After trying to sell the property on his own, the seller engaged Kislak on an exclusive basis to market and sell the portfolio, which en- abled us to market it widely to local, regional and national investors,” said Davidovic. “Given the demand for prop- erties in Hoboken, the close proximity of the portfolio to the PATH station and lower Manhattan, there was extraordinary interest from a variety of investors. We achieved 96% of the asking price.” “Scott, with the help of the entire Kislak team, marketed the property and produced many offers for the owner,” said Robert Holland, presi- dent and co-managing direc- tor. “Janet Bortz, a 13-year Kislak veteran ultimately produced a buyer with the highest offer who subse- quently closed the deal.” n will not expand federal juris- diction under the CWA, many in the regulated community fear otherwise and believe that the proposed rule would subject to federal jurisdiction smaller head water streams, as well as intermittent and ephemeral streams that flow only part of the year or only after a heavy rain. As of April 18, 2014, the proposed rule has not yet been published in the Federal Register, so the ninety-day public comment period has not yet begun. When it be- gins, EPA and the Corps will probably receive numerous comments that will have to be reviewed and addressed, so we may not see a final rule from the agencies until the end of 2014 or beginning of 2015. Jonathan Spergel is a partner and Bridget Dorf- man is an associate with Manko, Gold, Katcher & Fox LLP in Bala Cynwyd, Pennsylvania, an environ- mental and energy law firm. n continued from page 8C EPA water rules may directly . . .

oboken, NJ — The Kislak Compa- ny, Inc. announced

the $18.25 million sale of a 16,000 s/f portfolio of build- ings in Hoboken. The port- folio includes 10 apartments and 10 retail spaces. Vice president Scott Davidovic represented the seller and vice president Janet Bortz represented the purchaser. The portfolio consists of adjacent properties onWash- ington, Newark and Court Streets in the historic sec- tion of Hoboken four blocks from the PATH station. The portfolio is located in one of

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