3A — June 22 - July 12, 2018 — M id A tlantic

Real Estate Journal


M id A tlantic R eal E state J ournal

Three-story, 27,033 s/f office and retail property rebrands as “Front & Broad” Saxum Real Estate acquires downtown Red Bank Asset


erty that sits on the premier corner in downtown Red Bank. The property is anchored by Urban Outfitters which occupies 10,400 s/f on the ground floor. The upper floors feature Deloitte and Elevation LLC as tenants. Saxum plans to implement a capital improvement program to renovate the remaining ~12,700 s/f of vacant office into premier boutique office suites that fea- ture exposed brick, glass offices and common tenant space. The upper floor offers views of the majestic Navesink River while the rear terrace provides outdoor amenity space for tenants.

“We are thrilled to close on this new acquisition as it allows us to further invest into one of New Jersey’s most vibrant downtowns. This acquisition provides us with a unique op- portunity to transform another iconic Red Bank building into best-in-class product that fur- ther benefits the residents and overall community.” Anthony Rinaldi , managing principal. The property offers the rare opportunity to locate to the heart of downtown Red Bank where tenants can benefit from the vi- brant mix of restaurants, shops and cultural destinations. 

ED BANK, NJ — Sax- um Real Estate has added to its growing

portfolio in d o w n t o w n R e d B a n k with the ac- quisition of 2 - 10 Broad St., which it is re-branding as “Front & Broad.” The

Anthony Rinaldi

acquisition adds to its grow- ing portfolio in downtown Red Bank which also includes “The Vault” located at 55 Broad St. and 176 Riverside Ave., which sits at the gateway to down- town Red Bank. Located at 2-10 Broad St., Front & Broad is a three-story, 27,033 s/f office and retail prop- Beacon CRE brokers 19,693 s/f lease at The Rodin Place, Philadelphia

Front & Broad virtual vision

real estate auctions

The Rodin Place

Successful Industrial Portfolio Auction! 25 Properties in 8 States - April 2018

PHILADELPHIA, PA — Beacon Commercial Real Estate LLC completed a lease transactions for Biblical Theological Seminary at 2000 Hamilton St., The Rodin Place, Philadelphia. Biblical Theological Semi- nary, an accredited non- denominational seminary, signed a 19,693 rentable s/f lease agreement for over a decade. Gene McHale and Colin McHale of Beacon Commer- cial Real Estate, LLC were the brokers in the transactions representing Biblical Theolog- ical Seminary. Keith Kiner and Michael Anderson of PernaFrederick Commer- cial Real Estate was the bro- ker representing the Landlord RMPKEY, LLC.  Gene McHale Colin McHale

• Seller accepted high bids on 100% of the properties • Bids for these properties exceeded seller’s “high” valuations by 5%

• Average 35 days to close from auction date • Inquiries received from bidders nationwide • Four properties sold Pre-Auction

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