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.
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
75 - 77 N. Bridge Street, Somerville, NJ
Well maintained 14,440 SF 2-story Multi Tenant professional Office Building in the heart of Downtown Somerville walking distance to Somerset County court house and county administration complex and NJ Transit Somerville Train Station with service direct to NYC. Ideal opportunity for Office Owner User, Investor and or possible
residential conversion. Offered at: $1,700,000.
3121 route 22 east, Branchurg, NJ
Free standing 24,000 SF Office Building with 12,000 SF covered parking built in 1988, Fully Leased , well maintained, up- graded high efficient hvaC units and new upgraded energy efficient lighting fixtures, new asphalt for outdoor parking area, new landscaping, Excellent Investment Opportunity with great demographics in prestigious Somerset County minutes from Rte. 202/206, Rte. 78, I-287 and the Bridgewater Mall. 7% Cap Offered at: $3,600,000 .
732-907-2901 | 732-518-7979 Fax
View All My Listings At: firstname.lastname@example.org email@example.com
Made with FlippingBook - Online magazine maker