Real Estate Journal — February 13 - 26, 2015 — 3A
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M id A tlantic
M id A tlantic R eal E state J ournal 108 units along Washington Ave. in Belleville, NJ Gebroe-Hammer arranges 3 multi-family sales for $9.2m
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ELLEVILLE, NJ — In the Township of Bel- leville, where asking prices for multi-family proper- ties continue to trend upward, Gebroe-Hammer Associates has arranged three trades total- ing $9.2 million/108 units along Washington Ave. in the past 12 months. The brokerage team of man- aging director Joseph Brech- er and senior vice president Nicholas Nicolaou repre- sented the seller and procured the buyer in the most recent transaction, the $4.375 mil- lion sale of 43 units at 574-582 Washington Ave. The very well-maintained three-story building features a mix of 6 studio, 29 one-bed- room, 7 two-bedroom and 1 three-bedroom units. Nicolaou also was involved in two other Belleville transac- tions. He, along with Stephen Tragash , senior vice president, represented the seller and iden- tified the buyer in the $3.77 million sale of 242 Washington Ave. The five-story, 51-unit el- evator building is comprised of 36 studio, 9 one-bedroom and 6 two-bedroom units. Nearby, at 475 Washing- ton Ave., Nicolaou closed the $1.115 million sale of 14 units to kick off the firm’s Belleville activity earlier last year. The three-story building, built in 1927, also has three ground- floor retail units. n B CenterPoint completes built- to-suit container yard for KW Int’l SAVANNAH, GA — Cen- terPoint Properties an- nounced the completion of a built-to-suit container yard for KW International, an inter- national third party logistics provider, at CenterPoint In- termodal Center – Savannah. KW International commenced operations at the 3.14-acre built-to-suit property on Janu- ary 1. JohnNeely and Danny Chase of Colliers Interna- tional represented Center- Point and KW International, respectively, in the transaction. KWInternational’s new facil- ity is four miles from the Geor- gia Ports Authority, adjacent to Highway 307 and within minutes of I-95 and I-16. Facility features include a 900 s/f office, 105 trailer-park- ing stalls and 12 car-parking stalls. n
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