Real Estate Journal — New Jersey — April 14 - 27, 2017 — 5B


M id A tlantic

N ew J ersey

Tim Deluccia represents both parties Deluccia Commercial Group arranges sale of 5.26 acres

DeMarco to become CEO Mack-Cali announces se- nior management changes

Jersey City, NJ — Mack-Cali Realty Corpora- tion announced that president

point in the process, in partner- ship with our board of directors, it was determined that I would assume the day to day leader- ship of the business and become CEO and Mitch, my partner, would move to the newly cre- ated position of vice chairman, to continue his valuable role in the transformation of the company. As we move ahead, Marshall, Mitch, and I are extremely enthused by the suc- cess of our transformation thus far and by the opportunities to continue to grow our dual, of- fice and multi-family platform focused on the Hudson River Waterfront and transit-based markets.”

ridgewater, NJ — Consumers Inc. has recently sold its 5.26 acres of raw land on Rte. 22 East in Bridgewater, per Tim De- luccia, bro- ker associate of Deluccia C o mm e r - cial Group / BHHSNJP Bridgewater/Mar- tinsville office. The buyer , Sunr i se o f Bridgewater, LLC, with cor- porate headquarters out of McLean, VA, is part of Sunrise Senior Living Communities B Tim Deluccia Marcus &Millichap completes the sale of $1.634 million industrial building Garfield, NJ — Marcus & Millichap announced the sale of 160 Belmont Ave., a 23,154 s/f industrial property located in Garfield, for $1.634 million, according to Brian Hosey , regional manager of the firm’s New Jersey office Ben Sgambati and Alan Cafiero , investment special- ists in Marcus & Millichap’s New Jersey office, had the listing to market the prop- erty on behalf of the seller, a partnership. The buyer, a private investor, was secured and represented by Steve Marani, Alan Cafiero and Ben Sgambati . n KBSRealtyAdvisors signs over 29,500 s/f in leases ISELIN, NJ — KBSRealty Advisors of Newport Beach, CA, announced the signing of leases totaling 29,508 s/f at Woodbridge Corporate Plaza in Iselin. Biocon Limited, In- dia’s largest pharmaceutical company, renewed their 4,055 s/f lease. American Apparel and Home Good stores, TJX Companies and Homegoods Inc., have extended their leases for a total of 8,627 s/f. Financial services companies, Schultheis & Panettieri, LLC, SD Capital Funding Corp and McAdam LLC have signed new leases at the property totaling 9,496 s/f. The property is located at the intersection of Rte. 1 and the Garden State Parkway. n

their second location in Som- erset County, with Sunrise of Basking Ridge at 404 King George Rd. in Basking Ridge as the other location. In April of 2016, Consum- ers Inc. closed on the adjacent 5-acre parcel with a 42,000 s/f facility. The property was sold to Open Road Auto Group. Tim Deluccia also represented both the buyer and seller in this transaction. Tim Deluccia is a consistent CoStar Power Broker special- izing in commercial sales/ leasing, landlord and tenant representation. n

and has more than 315 such communities throughout the U.S., Canada and the United Kingdom. The property closed at $2.44 million. The site has been approved by the Township of Bridgewater for an 81-unit senior living community. Con- struction is expected to begin late Spring 2017. Tim Deluccia represented both buyer and seller in this transaction. Sunr i se Seni or Li v ing Community has 23 Sunrise communities in NJ and this Bridgewater Location will be

Michael De- Marco will assume the title of CEO of the com- p a n y a n d M i t c h e l l Rudin will become vice chairman ef- fective immediately.

Michael DeMarco

DeMarco, CEO said, “Given the strong success of Mack-Cali over the last two years under our leadership, the company is well positioned to continue its strategic evolution. At this

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Commercial Sales/Leasing

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View All My Listings At: www.showcase.com/timdeluccia@gmail.com tim@delucciacommercialgroup.com

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