December 2025

- DC THE MOST COMPREHENSIVE SOURCE FOR COMMERCIAL REAL ESTATE NEWS IN THE REGION

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ISSUE HIGHLIGHTS Volume 37, Issue 12 December 2025 BLUE ROCK DELIVERS 358K S/F CLAYMONT, DE PROJECT

Major two-building industrial development planned at 2554 Route 206 NAI Mertz brokers Rockefeller Group’s 100-acre land acquisition in Pemberton

by Klear, who played a key role in the acquisition. Klear and Scott Mertz , president,

EMBERTON, NJ — NAI Mertz announced that Jonathan Klear ,

will be rep- resenting the project, offering ten- ants an op- portunity to locate within a strategical- ly positioned logistics hub

senior vice president, and Fred Meyer , ex- ecutive vice president, facilitated Rockefeller Group’s ac- quisition of

NORTHERN NJ REGIONAL FOCUS 12-15A ANNUAL REVIEW

Jonathan Klear

Fred Meyer

in southern New Jersey. “Working with Rockefeller Group on this transaction has been truly rewarding,” said Klear. “206 Logistics Center is expected to be a significant addition to the industrial mar- ket offering excellent access to major transportation corridors such as Route 206, I-295 and the New Jersey Turnpike, as

a 100-acre development site in Pemberton. The site is located at 2554 Route 206. Rockefeller Group plans to de- velop a 486,850 s/f industrial project on the site across two buildings NAI Mertz will mar- ket the project, 206 Logistics Center, for build to suit, lease or sale. The transaction was facilitated

206 Logistics Center rendering

well as a strong labor pool,” he added. The development will offer modern industrial space de- signed to meet the evolving needs of logistics and distri-

bution users. The buildings will offer 36’ clear and 40’ clear ceiling heights, ample trailer parking, ESFR sprin- kler systems and 3,000 amps of power. MAREJ

Section B

UPCOMING CONFERENCES JAN 15, 2026 NJ HEALTHCARE & MEDICAL PROPS CONFERENCE FEB 19, 2026 NJ CRE FORECAST CONFERENCE MARCH 2026 SNJ CRE FORECAST CONFERENCE For speaking & sponsorship info., please contact: Lea at 781-740-2900 or lea@marejournal.com

JLL & CBRE launch major Newark redevelopment offering: 1,000 units & new 250,000 s/f Horizon HQ

Plaza East, currently the site of office properties owned by NJ TRANSIT and Horizon.

vacant, enabling development of the 3-acre riverfront parcel into a premier multi-housing community. Both development sites will be located nearby the well-connected Newark Penn Station, NJ’s second-largest train station served by both AMTRAK and NJ TRANSIT. JLL and CBRE invite in- terested developers to reg- ister by December 31, 2025, to request the Confidential Information Memorandum (CIM), which outlines the potential opportunity. Those who receive the CIM may be invited to a future In- formation Sharing Event (ISE) to review timeline details, evaluation crite- ria, sample financial mod- els, and submit questions. Both the CIM and ISE are for informational purposes only and do not constitute a solici- tation or professional advice. JLL is representing NJ TRANSIT in the transaction; and CBRE is representing Ho- rizon Blue Cross Blue Shield. “Horizon and NJ TRAN- SIT have been neighbors for 30 years and it is very gratifying to be part of a

coordinated effort that re- sults in both organizations remaining in Newark while advancing the City’s rede- velopment aspirations,” said Gil Medina , executive VP of CBRE. “As technology continues to improve how Horizon serves its mem- bers, the company’s new headquarters will allow it to operate more efficiently and in a smaller footprint, while offering its employees and guests a modern, col- laborative environment in the heart of Newark.” “This project is the real- ization of many months of discussion on transforming two older office buildings at a premier waterfront location with unobstructed views of the NY skyline into a vibrant mixed-use development,” said Ron Simoncini , executive VP of JLL. “The ASPIRE program facilitates just this sort of op- portunity, and in addition to our gratitude to the amazing collaboration of Horizon and NJ TRANSIT, the Murphy Administration deserves credit for energizing the development community.” MAREJ

NEWARK, NJ — JLL and CBRE, Inc. are working to- gether on behalf of NJ Transit

The project plan also in- cludes a new single-ten- ant 250,000 s/f class A building that would serve as Horizon’s new head-

and Horizon Blue Cross Blue Shield of New Jer- sey (Hori- zon) to so- licit interest in a poten- tial premier mixed-use

Ron Simoncini

Gil Medina

quarters in Newark. Both the redevelopment and office building sites will require approvals from the City of Newark and need to satisfy other regulatory requirements. The potential project anticipates utilizing New Jersey Economic De- velopment Authority ’s AS- PIRE Transformative Project program, a powerful tax-credit incentive designed to close financing gaps for large-scale, mixed-use projects that drive long-term urban revitaliza- tion. Under the ASPIRE pro- gram, only one applicant may apply, but that entity can be comprised of a joint venture. Both Penn Plaza properties are assumed to be delivered

development opportunity that would result in a new residential complex of up to 1000 units at 1 and 3 Penn

Directory

Financial. .................................................................. 3-5A DelMarVa.................................................................... 6-7 CIRC Organization . ....................................................... 6A New Jersey Featuring Northern NJ..........................8-16A Pennsylvania Featuring Northeastern PA...............17-20A Owners, Developers & Managers..........................21-31A People on the Move...................................................30A CRE Organization’s Events Calendar ............................ 32A Annual Review................................................... Section B www.marej.com

Inside Cover A — December 2025 — M id A tlantic Real Estate Journal

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M id A tlantic R eal E state J ournal Publisher, Conference Producer ..............Linda Christman VP, Conference Producer .............................Lea Christman Editor/Graphic Artist ......................................Karen Vachon Contributing Columnist .......................Scott Bisbort, LSRP Langan Engineering & Environmental Services Mid Atlantic R eal E state J ournal ~ Published Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal 117 HMS Halsted Dr., Hingham, MA 02043 USPS #22-358 | Vol. 37, Issue 12 Subscription rates: 1 year $99.00, 2 years $148.50, 3 years $247.50 & $4.00 single issue - plus postage

Importing and Exporting Soil Scott Bisbort, LSRP

I mporting and exporting soil are routine compo- nents of redevelopment and remediation projects. How- ever, the presence of PFAS— even at background concen- trations—has introduced new regulatory and logistical chal- lenges, as their presence can complicate soil movement, trigger compliance obligations, and limit disposal options. The presence of PFAS in soils may be due to well-known point sources, like industri- al discharges or firefighting foam, or lesser-known diffuse sources, such as atmospheric deposition, urban runoff, or long-range transport. Even if PFAS levels fall be- low regulatory limits at a proj- ect site, imported soil may still contain concentrations above the background of the receiving site. This can lead to additional testing requirements, delayed approvals, and the need for regulatory justification and documentation. Additionally, exporting soil with PFAS con-

REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Phone: 781-740-2900 www.marej.com

centrations above or below reg- ulatory standards—regardless of whether they originate from background sources—may prompt regulatory scrutiny and potential liability, required source investigations and site characterization, and complex disposal logistics. As a result, many landfills and treatment facilities are reluctant to accept materi- als containing PFAS. These facilities also consider po- tential challenges related to the persistence of PFAS and potential for groundwater contamination, costly leachate management requirements, and evolving state-level re- strictions or bans on PFAS- containing waste. The impact of PFAS on soil imports and exports cannot be

overlooked, especially as PFAS regulations continue to evolve. Recommended best practices for managing PFAS in soil movement include: • Conducting a compre - hensive review to determine if PFAS is a contaminant of concern at the import site prior to importing any material. • Conducting PFAS testing, including leachability assess- ments. • Reviewing available docu - mentation and information for any export site to support the absence of PFAS. • Reviewing state-specific regulations and landfill ac- ceptance criteria. • Documenting all transport and disposal activities to con- firm regulatory compliance. continued on page 4A

Firmly Rooted in the Law and in the Community We are well grounded in every facet of real estate law, from acquisition to construction. We are committed to serving the needs of our clients and our communities.

Contact: NEIL A. STEIN • nstein@kaplaw.com 910 Harvest Drive, Blue Bell, PA 19422-0765 • 610-941-2469 • kaplaw.com Other Offices: • Cherry Hill, NJ 856-675-1550 • Philadelphia, PA 215-567-3120 Kaplin Stewart Attorneys at Law

M id A tlantic Real Estate Journal — December 2025 — 3A

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Creating Healing Spaces Expert solutions for your healthcare environment

4A — December 2025 — Financial — M id A tlantic Real Estate Journal

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F inancial

Record-setting volume highlights demand for fast, flexible lending as banks retreat from land Kennedy Funding Sets Record Pace: 8 Land Loans, 8 States, 8 Weeks

The closings took place dur- ing the final quarter of 2025, which Kennedy Funding ex- pects to be the busiest Q4 in the company’s 38-year his- tory. The firm has already seen heightened demand from developers and investors squeezed by a still-tight cred- it environment—especially when it comes to land loans. Loan Highlights: 8 Loans Across 8 States • Vseva Crown Court LLC – Inverness, Florida Land Acquisition • The Beach Dallas LLC – Dal - las, Texas Land Acquisition • Diamond J Farms LLC – Idaho Falls, Idaho Debt Payoff/Working Capital • Alliance USA [SPV 2025] Inc – Lynden, Washington Cash-Out Refinance • 270 Irvington LLC – South

Orange, New Jersey Cash-Out Refinance • Haya Enterprises LLC – Medford, Oregon Working Capital • NSB Estate LLC – Ferndale, • Croatan Capital II, LLC — Stephenson, Frederick County, Virginia Cash-Out Refinance New York Cash-Out “There’s an extraordinary wave of business waiting to get funded — land, cash-outs, acquisitions, foreclosures and working capital,” said Edwin Urrego, Executive Loan Of - ficer at Kennedy Funding. “We’re working around the clock to meet everyone’s needs by the end of the year.” Kennedy Funding’s ability to move quickly comes from its direct private lending struc- ture and long-standing exper-

tise with land, transitional assets, and real-estate-backed business needs. The firm regu - larly delivers capital for a wide range of uses — without the bureaucratic delays that often stall or kill time-sensitive op- portunities. Closings can take place in as little as five to ten days, with loans up to 75% loan-to-value. Kennedy Funding’s reach also extends far beyond the United States. The firm continues to ex - pand its global lending footprint throughout the Caribbean, Europe, Canada, and Central and South America. Interna- tional loans start at $3 million, with the capacity to fund more than $50 million on qualifying deals. The company has now closed over $4 billion in loans worldwide, driven by a blend of speed, flexibility, and the ability to close when others hesitate.

With traditional lenders re- maining conservative on land, Kennedy Funding expects its record-setting momentum to continue through the close of the year and into 2026. About Kennedy Funding Kennedy Funding is a global direct private lender specializ- ing in bridge loans for commer- cial property and land acquisi- tion, development, workouts, bankruptcies, and foreclo- sures. Kennedy Funding has closed more than $4 billion in loans to date. Their creative financing expertise provides funding up to 75% loan-to- value, from $1 million ($3 million international) to more than $50 million in as little as five days. The company has closed loans throughout the United States, the Caribbean, Europe, Canada, and Central and South America. MAREJ

NGLEWOOD, NJ — Kennedy Funding has achieved a mile-

stone few pri- vate lenders can claim, closing eight land loans across eight different U.S. states in just eight weeks, reinforcing

Kevin Wolfer

its position as one of the fastest and most flexible private lend - ers in the land financing space. “This kind of pace is almost unheard of in land lending,” said Kevin Wolfer , CEO of Kennedy Funding. “To close eight deals, in eight different states, in just eight weeks—on land, no less—is a testament to what Kennedy Funding can do when dependability and speed matters.”

Houlihan-Parnes Properties arrange $4.55M in financing across NY & CT

JLL arranges debt for 147,620 s/f distribution facility in CNJ Bridge Industrial secures $27.1M in bridge financing for NJ warehouse

NEW YORK, NY — Flavia Verzivolli, David Lulgjuraj and Michael Cuniberti of Houlihan-Parnes Properties have arranged 1st mortgage financing in the amount of $2.8 million and a line of credit for a six-story elevator cooperative apartment building containing 52 apartments in the Inwood section of Manhattan. The property is located at the corner of Park Terrace West and W 215th St. The loan was placed for a 10-year fixed term at a sub 6% interest rate. Jeremiah Houlihan and James Coleman of Houli- han-Parnes Properties have successfully arranged the refinancing of two-story eleva - tored 26,000 s/f neighborhood retail center on 1111 South Main St. in Cheshire, CT. The building was built in 1985 and contains eight retail suites on the ground floor and eight of - • Engaging with regulators early when PFAS is detected to avoid project delays. Langan’s PFAS practice is well-versed in the regulatory environment and helps cli- ents navigate the challenges related to soil import and export. By implementing best practices and staying informed of state-specific and federal requirements, PFAS-related

MORRISTOWN, NJ — JLL Capital Markets has arranged $27.1 million in bridge financ - ing for Bridge Point Piscataway, a class A, 147,620 s/f warehouse located at 10 Constitution Ave. in Middlesex County. JLL worked on behalf of the borrower, Bridge Industrial , in securing a loan through PPM America, Inc. The state-of-the-art dis- tribution center features 36-foot clear ceiling heights, 41 dock-high doors and two drive-in doors designed for high-volume logistics opera- tions. The facility provides 118 car parking spaces and 57 trailer stalls on a 12.84- acre site, supporting large- scale distribution activities. The warehouse includes 3,000 s/f of office space and can accommodate single or multi-tenant configurations. The JLL Capital Markets team was led by senior manag- ing directors Michael Klein and Jon Mikula , along with analyst Kevin Badger . “Despite a prolonged lease up period, Bridge Point Pisca - taway’s superior design speci- fications and strategic location along the Interstate 287 corri- dor created an attractive financ - ing opportunity,” said Klein. “There is a strong appetite on behalf of lenders to provide financing for quality industrial

57 Park Terrace

fices on the second level. There is more than ample parking on-site. Houlihan-Parnes Proper- ties has arranged a $1.755M first mortgage loan with cur - rent market interest rate and repayment schedule for a 10- year term. The financing was arranged in connection with the pur- chase of the property by an investment group based out of White Plains. The property will undergo upgrades and be repositioned to maximize the investment. MAREJ challenges can be effectively managed to responsibly move soil across redevelopment and remediation efforts and suc- cessfully complete projects in a timely manner. Scott Bisbort is a senior project manager in Lan- gan’s Princeton office with over 25 years of experi - ence working on investi - gation and remediation projects. MAREJ

Bridge Point Piscataway

projects that require more time to achieve full stabilization,” added Mikula. In other JLL news, JLL’s Hotels & Hospitality Group announced the sale of 122-room Courtyard by Marriott Wayne Fairfield, a select-service hotel positioned 20 miles from NYC. JLL represented the seller, RiverLink Hotels , in the sale to affiliates of Concord Hospital - ity. Working on behalf of the new owner, JLL also secured acquisition financing through M&T Bank . The four-story hotel features a diverse guestroom mix de- signed to accommodate vari- ous traveler needs. The prop- erty includes 73 standard king rooms, 36 standard two-queen rooms, seven extended two- queen rooms, four king suites and two queen suites. Guests have access to compre-

hensive amenities including an indoor pool, fitness center and 1,587 square feet of meeting space with capacity for up to 120 banquet guests. The Bistro restaurant operates daily, serv- ing breakfast and dinner, fea- turing upscale casual American cuisine and a full evening bar. The JLL Hotels & Hospitality team representing the seller was led by director Phil White , while the financing efforts were spearheaded by managing di- rector Jillian Mariutti . “This Courtyard by Marriott represented a compelling value- add investment opportunity in one of northern NJs most stra - tegically located markets,” said White. “The property combines relatively new vintage construc- tion, strong in-place cash flows and significant operational up - side potential in a high barrier- to-entry market. MAREJ

continued from page 2A Importing and exporting soil . . .

M id A tlantic Real Estate Journal — Financial — December 2025 — 5A

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F inancial

8 closings in 8 states in 8 weeks by 1 lender

Closed

Working Capital

Acquisition

Cash-out Refinance

Working Capital

NSB Estate, LLC Ferndale, New York

Alliance USA [SPV 2025] Inc Lynden, Washington

Vseva Crown Court LLC Inverness, Florida

Haya Enterprises LLC Medford, Oregon

Closed

Acquisition

Cash-out

Cash-out Refinance

Debt Payoff/Working Capital

The Beach Dallas LLC Dallas, Texas

Diamond J Farms LLC Idaho Falls, Idaho

270 Irvington LLC South Orange, New Jersey

Croatan Capital II, LLC Stephenson, Virginia

With over $4 Billion in closed loans, why would you go anywhere else?

Call 201-342-8500 or visit KennedyFunding.com

land, development and acquisitions, bankruptcies, discounted payoffs, note purchases, workouts and foreclosures

6A — December 2025 — M id A tlantic Real Estate Journal

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Great CRE Events Networking | Speakers | Continuing Ed circdelaware.org

Board Directors * 7/1/25-6/30/26 * — Officers — President: Barton L. Mackey, Jr. Cushman & Wakefield U.S., Inc. Vice President: Jay L. White , MAI, CRE® Apex Realty Advisory Co-Treasurers: Michael Hahn 44 Business Capital, div. Berk.Bank Robert Stenta Cushman & Wakefield U.S., Inc. Secretary: Daniel Wham DSM Commercial Real Estate — Directors — Past President: Cindy Fleming

Happy Holidays from your friends at CIRC!

A nnuAl H olidAy l uncH M ixer W ednesday , d ecember 17 - 11:15 to 1:45 pm r iverfront e vents , W ilmington

 Help FILL the barrels for Food Bank of Delaware

 The tables are set and just awaiting your arrival. Register today!

 50-50 Cash Raffle to benefit the Boys & Girls Club - Claymont Club.

Jones Lang LaSalle Program Chair: Lorraine Sheldon NAI Emory Hill Ryan Kennedy KENNEDY Marketing Carmen Facciolo NAI Emory Hill

H Appy n ew y eAr M eMbersHip M eeting J anuary 14 - d u p ont c ountry c lub

January 14 Agenda

We will start off the New Year hearing from our New Castle County Execu- tive, Marcus Henry, who has reached out to the business community with interest in discussing the Reassess - ment and adressing concerns about non-residential/commercial properties' school tax rates. He will address your questions and introduce you to staff who have been assigned to help you with appeals or other issues you may be experiencing.

Donald Robitzer The Commonwealth Group Neil Kilian, SIOR, CCIM NAI Emory Hill Benjamin Berger , Esq. Berger McDermott LLP Pamela Scott , Esq. Saul Ewing Arnstein & Lehr LLP E. Thomas Harvey, IV Harvey Hanna & Associates — Ex-Officio —

10:00 CIRC Board of Directors 11:15 Networking 12:00 Buffet Luncheon 12:45 Presentation & Q&A 1:30 Continuing Education

DE Module 4 Agency PA Mandatory 3.0 Hrs. Agency Relationships

Marcus Henry County Executive New Castle Couty Government

Business Manager: Janet Pippert

Calendar of Events

Legislative Advocacy: C. Scott Kidner C. S. Kidner & Associates Legislative Affairs Chair: Brett Saddler

Member Events Jan. 14 (Wed.) Membership Lunch Location: DuPont Country Club, Wilmington, DE

Continuing Education Location: DuPont Country Club, Wilmington, DE Jan. 14 (Wed.) - DE Module 4 + PA Mandatory Agency 1:30 p.m. Agency Relationships DE Module 4 and PA 3.0 reqd. Agency Relationships Feb. 11 (Wed.) - DE Module 5 + PA Elective 8:30 a.m. TBA (DE/PA/MD) 1:30 p.m. Fraud - It's Here and It's Real DE Module 5 and PA Elective REGISTER: circdelaware.org/ce

Claymont Rennaissance Dev. Corp. Economic Development Liaisons: Joseph Zilcosky (Del.DSB) Becky Harrington (DPP) Megan McGlinchey (RDC) — Contact — Janet Pippert Phone: (302) 633-1705 Email: ExecDirector@ circdelaware.com www.circdelaware.org

Speaker: New Castle County Executive Marcus Henry will speak to the business community to discuss the Commer- cial Property Reassessment, with Q&A. REGISTER: circdelaware.org / goto Events Online CE Enjoy CIRC's Monthly Discounts and Flash Sales

through our partnership with The CE Shop! Get our Promo Codes at: circdelaware.org/ce

M id A tlantic Real Estate Journal — DelMarVa — December 2025 — 7A

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D el M ar V a

Five-month fast-track fit-out follows ground-up delivery Blue Rock completes 358,000 s/f distribution project for First Industrial in Claymont, DE C

LAYMONT, DE — Blue Rock announced the completion of both the ground-up construction and the comprehensive fit-out of a 358,000 s/f distribution facility at First State Crossing in Claymont. This project represents an- other strong chapter in Blue Rock’s ongoing partnership with First Industrial Realty Trust , a leading owner, opera- tor, and developer of logistics real estate. Complete Delivery Blue Rock delivered the rear-load warehouse as part of the broader First State Crossing redevelopment, a transformative 420-acre proj- ect turning a former steel mill site into a modern industrial and commercial hub. The facility features: • 40-foot clear height • 68 dock positions, two ramp doors, and 241 trailer parking stalls • Strategic proximity to I-95, I-495, and Philadelphia International Airport Following completion of the building, Blue Rock was select - ed to provide a full interior fit- out tailored to the operational needs of First Industrial Real- ty Trust’s tenant, ensuring the facility was fully prepared for occupancy and performance. Fast-Tracked Fit-Out Originally scheduled as an eight-month effort, the fit-out was successfully com - pleted on an accelerated five- month timeline. Blue Rock worked closely with the tenant and owner- ship team to meet the revised schedule while maintaining the highest standards of qual- ity and functionality. The fit-out scope included: • A new 12,000 s/f office • An 11,000 s/f maintenance shop • Renovations to an existing 5,000 s/f office • Infrastructure upgrades such as battery-charging sta- tions, high-volume, low-speed fans, and modified dock equip - ment for larger levelers • Site improvements, in - cluding perimeter fencing, a guard shack, and updated building signage Longstanding Partnership Blue Rock values its part - nership with First Industrial Realty Trust, having teamed together on multiple projects totaling nearly 4 million s/f in the NE. Recent projects include:

358,000 s/f distribution facility at First State Crossing in Claymont, DE

PA – (2) buildings totaling 1,783,800 s/f First I-78/81 Logistics Center, Jonestown, PA – (2) buildings totaling 988,920 s/f

First Park New Castle – Building B, a 225,680 s/f facili - ty currently under construction First Logistics Center @ 283 , Londonderry Twp.,

Bordentown, NJ – 119,800 s/f First Bordentown Lo - gistics Center, Rising Sun Road, Bordentown, NJ – 208,000 s/f MAREJ

First 33 Commerce Center, Northampton County, PA – (2) buildings totaling 584,000 s/f First Park @ Central Crossing – Building III,

Celebrating over 30 years as the premier construction manager and design-builder in South Jersey.

“Blue Rock Construction was able to listen to and, more importantly, understand our wants, needs, and critical restrictions in order to customize a build that fit our budget and operational restraints.” Theo Roustopoulos, Kast Distributors and US 4 Realty, LLC

1712 Hancock Lane, Burlington, NJ 08016

(609) 747-7758 www.blrck.com

8A — December 2025 — New Jersey — M id A tlantic Real Estate Journal

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N ew J ersey

Sale of CenterPointe I highlights strong owner-user demand in NJ’s suburban office market Colliers completes sale of vacant office building to end-user in Bridgewater, NJ

RIDGEWATER, NJ — Colliers has com- pleted the sale of Cen - terPointe I, a 66,500 s/f vacant office property located at 1130 Rte. 22 E. Bridgewater, NJ. Colliers team of vice chair Jacklene Chesler , vice presi- dent Patrick Norris , and transaction manager Brittany Leventoff arranged the sale and represented the seller, Signature Acquisitions . Situated in the Rte. 22 West Office Market, the property benefits from highway visibil - ity, prime signage opportuni- ties, and convenient access to key New Jersey markets. B

Jacklene Chesler

Patrick Norris

Brittany Leventoff

area’s connectivity, workforce access, and established busi- ness environment make it a compelling destination for high-profile tenancy. “To navigate today’s shift- ing office market, many New

Previously occupied by All- state Insurance Company, the building sits within a thriving corporate corridor home to major Fortune 500 companies such as Sanofi, Johnson & Johnson, and MetLife. The

1130 Rte. 22

Jersey companies are taking control of their real estate future—driving a surge in owner-user acquisitions. As institutional investors pull back and property values soften, businesses are step- ping in to secure long-term control and cost stability,” said Chesler. “CenterPointe I’s visibility, accessibility, and modern configuration made it a standout opportunity in one of the state’s most active corporate corridors.” Through a targeted mar- keting campaign and broad regional reach, Colliers drove strong exposure and engage- ment from qualified owner-us - er buyers. Colliers’ investment sales team arranged several recent transactions for office users, including 1 Jefferson Rd. in Parsippany and 80 Cot - tontail Ln. in Somerset, among other properties. Additionally, Colliers has arranged the sale of One Jef - ferson Rd., a 100,000 s/f vacant class A office building in Par - sippany. Colliers represented the seller, Signature Acquisi- tions, and procured the buyer, an end-user. The deal was fa- cilitated by a Colliers team led by Chesler, Norris and director Matthew Cohen . Constructed in 2009, the property has historically served as home to a blue-chip national law firm. At the time of sale, the property was delivered vacant. The building is situ- ated on 8.49 acres and boasts a marble lobby, a full-service cafeteria, and a conference cen- ter, complemented by over 391 parking spaces for tenants and visitors. Located at the cross - roads of I-80, I-287, and US-46, the building offers unmatched accessibility to New York City, Newark Liberty International Airport. MAREJ

CONSIDERING SELLING?

Close with the #1 Auction Team

CLOSED

CenterPointe I, 1130 Route 22 E Bridgewater, NJ (Non-Auction)

100 & 200 Valley Road Mount Arlington, NJ

OFFICE

13 Tours

102 Signed CAs

Owner-User Buyer

16 Tours

111 Signed CAs

148% of Reserve Price

CURRENT NON-AUCTION OPPORTUNITIES

1 Plaza Dr., Toms River, NJ 38,077 SF | 98.2% Occupied

3 Plaza Dr., Toms River, NJ 18,059 SF | 100% Occupied

45 Technology Dr., Warren, NJ 45,804 SF | 0% occupied

777 Route 17, Paramus, NJ 24,000 SF

HOLIDAY CITY MEDICAL PORTFOLIO

VALUE- ADD OFFICE/FLEX

VALUE- ADD RETAIL

Patrick Norris Vice President 973 299 3010 patrick.norris@colliers.com

Brittany Leventoff Team Transaction Manager 732 734 0709 brittany.leventoff@colliers.com

Jacklene Chesler Vice Chair 973 299 3083 jacklene.chesler@colliers.com

M id A tlantic Real Estate Journal — New Jersey — December 2025 — 9A

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N ew J ersey

12.25

Cushman & Wakefield’s Tri-State Capital Markets closed in excess of $2.4 billion of office, industrial, retail, land and multifamily transactions in the past 12 months. RECENT SUCCESSES & NEW DEALS

MARKETING

COMING SOON

THE BOUNDARY Hoboken, NJ

10 EMPIRE BOULEVARD Moonachie, NJ

701 CARNEGIE CENTER DRIVE Princeton, NJ

2.34 Acres

110,000 SF

120,000 SF

Premier, fully entitled 2.34-acre mixed-use development at the border of Hoboken and Jersey City, featuring 492 residential units, 131,000+ SF of commercial and medical office space, and over 35,000 SF of retail with structured parking.

Single-tenant NNN lease with 4% annual steps & 6+ year WALT. Ideal Meadowlands location with extensive manufacturing installation.

100% leased to Trustees of Princeton University through 8/29. Situated within Carnegie Center campus and benefits from proximity to major corporations & Princeton Junction station.

SOLD

60 CHAPIN ROAD Pine Brook, NJ

90 KINGSLAND AVE Clifton, NJ

STEEPLECHASE AT MALTA Malta, NY

259,230 SF

7.1 Acres

234 Units

100% leased, 5 tenant industrial park with 5.2 year WALT. 24’ clear, 355 car spaces, and direct access to Route 46, I-80, Route 3, and I-287.

IOS site with 9,667 SF maintenance facility including 4 drive-in doors and high-speed roll up doors. Leased to Tesla through 8/30 with 2.5% annual steps

Multifamily community offering direct access to Route 9 and I-87 featuring 1, 2, & 3 bedroom units, direct access garages, and is situated near major employers, retail centers, and local amenities.

CAPITAL MARKETS GROUP

ANDREW MERIN andrew.merin@cushwake.com DAVID BERNHAUT david.bernhaut@cushwake.com GARY GABRIEL gary.gabriel@cushwake.com NIKO NICOLAOU niko.nicolaou@cushwake.com KYLE SCHMIDT kyle.schmidt@cushwake.com

FRANK DITOMMASO frank.ditommaso@cushwake.com ANDREW SCHWARTZ andrew.schwartz@cushwake.com RYAN DOWD ryan.dowd@cushwake.com RYAN LARKIN ryan.larkin@cushwake.com SETH ZUIDEMA seth.zuidema@cushwake.com

BILL BAUNACH bill.baunach@cushwake.com MAX HELFMAN max.helfman@cushwake.com JORDAN SOBEL jordan.sobel@cushwake.com ANDRÉ BALTHAZARD andre.balthazard@cushwake.com PETER WELCH peter.welch@cushwake.com

JEAN-PIERRE HOHL jeanpierre.hohl@cushwake.com MAIA SIRABIAN maia.sirabian@cushwake.com MICHAEL GUERRA michael.guerra@cushwake.com DAN BOTTIGLIERI daniel.bottiglieri@cushwake.com

CUSHMAN & WAKEFIELD, INC. CAPITAL MARKETS GROUP One Meadowlands Plaza, 7th Floor | East Rutherford, NJ 07073 | T / +1 201 935 4000 | E / investment.sales@cushwake.com

10A — December 2025 — New Jersey — M id A tlantic Real Estate Journal

www.marej.com

N ew J ersey

S.V.P. Daniel Lanni arranges sale of 30,375 s/f in Mercer County Kislak sells Hopewell Valley Industrial Park in Pennington, NJ for $3.3 Million

the seller and he also pro- cured the purchaser. The parties were not disclosed. Lanni said, “This was a spe - cial transaction because the property had not traded in 30 years, and it was a long trans- action with several complexi- ties. Yet we worked through every challenge and finally closed with an experienced purchaser who used it to complete a 1031 Exchange.” Constructed in 1988, the in - dustrial park sits on 8.2 acres and consists of several sin- gle-story and one two-story warehouses. Leased by long

term tenants whose services range from landscaping, up- holstering, motorcar and bus services to an exercise studio, the buildings have over 100 parking spaces. Tenants pay for their own repairs and utilities, a feature attrac- tive to the new owner who also has the opportunity to increase rents. Zoned SI, the property is located in a residential area where the average household income is $152,448 and is situated only a few miles from Route 1 and I-95. Local trans - portation via bus and com- muter rail is within a 10 to 20 minute drive from the property. Daniel Lanni joined Kislak in 2010 and is consistently among the firm’s leading producers. He specializes in the sale of multifamily and other investment properties in central New Jersey with a particular focus along the Jersey Shore. Lanni was the recipient of the firm’s 2011 Rookie of the Year Award and was promoted to a se- nior vice president in 2019. He has also been recognized by the Mid Atlantic Real Estate Journal as one of its 40 Under 40 in commercial real estate. The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage firm con- sistently recognized for its investment sales success. Established in 1906, Kislak’s market leadership position and longevity are due to its ability to offer clients a personalized, hands-on ap- proach, coupled with the unrivaled expertise of its long-tenured team of profes- sionals. Kislak’s prestigious client base includes indi- vidual investors and owners, partnerships, financial in- stitutions, and REITs. The firm’s professionals provide comprehensive market cover- age throughout New Jersey, New York, Pennsylvania, Delaware, and Florida. Now in its 119th year, Kislak was among a select group of firms recognized as a 2024 Power Broker by CoStar Group, Inc. and this was the firm’s 19th consecutive recog - nition. Kislak was also named by NJBIZ as a 2024 Leader in Real Estate, Construction and Design and this was the firm’s third recent recognition. MAREJ

ENNINGTON, NJ — The Kislak Com - pany, Inc. announced the recent of a sale of Hopewe l l Valley Indus - trial Park, a 30,375 s/f fa - cility at 1613 Reed Rd. in Penn i ng - ton, Mercer County, for $3.3 million. Kislak marketed the prop- erty with senior vice presi- dent Daniel Lanni handling the assignment on behalf of Daniel Lanni

1613 Reed Rd.

EXCLUSIVE PROPERTIES FOR SALE

Paterson, NJ 7 Residential Units + 1 Retail Unit

Elizabeth, NJ 41 Residential Units Jeff Squires 973 943 1032

East Orange, NJ 12 Residential Units Michael Salomon ext 243 Don Baxter ext 265

Tom Scatuorchio ext 255 Joseph Keenan ext 256

Branchburg, NJ 5 Condo Units/45,000 SF Industrial Park Max Levinston 908 360 8055

Westwood, NJ 12,630 SF Medical Office Robert Squires ext 287

Little Egg Harbor Township, NJ 10,000 SF Business Park Daniel Lanni 908 692 7633

The Kislak Company, Inc. | kislakrealty.com | 732 750 3000

M id A tlantic Real Estate Journal — New Jersey — December 2025 — 11A

www.marej.com

N ew J ersey “WE’VE GOT NEW JERSEY COVERED” / EXCLUSIVES

1,500 – 3,000 SF – 6,000 SF South Plainfield 225/275 SF Ofc, 24’ Clgs, 1 DI Per Unit

10,000 SF | Garwood Ofc to Suit, 14’ Clgs, 1 TB, 2 DI Lease $9.75 PSF Net

1,920 – 3,840 SF | Piscataway 225 SF Ofc, 20’ Clgs, 1 DI Per Unit Ample Parking

28,460 SF | Garwood 19,210 SF & 9,260 SF Temp Controlled 14’ – 20’ Clgs, TB, DI Sale $210 PSF | Lease $15.00 PSF Net

28,620 SF | Garwood Divisible to 8,270 SF & 20,350 SF

17,203 SF | Carteret 1,000 SF Ofc, 15’ Clgs, 3 TB, 1 DI Available Immediately

Available Immediately Lease $9.75 PSF Net

50,000 SF Carteret 5,000 SF Ofc, 24’ Clgs, 7 TB Cooler/Freezer

50,422 SF Edison 21’ Clgs, 7 TB DI, 2.54 Acres Cooler/Freezer

45,190 SF | Union 19,385 SF (7,200 SF Ofc, 20’ Clgs, 6 TB) 11,305 SF (3,500 SF Ofc, 20’ Clgs, 2 TB, DI) 14,500 SF (3,500 SF Ofc, 14’ Clgs, 2 TB)

44,362 SF | Piscataway 20’ Clear Clgs, 2 TB, Heavy Power 4.96 Acres | For Lease

+ 5.0 AC IOS

176,132 SF | Jersey City Divisible to 10,000 SF Units 54,553 SF Ofc, 14’ - 28’ Clgs, 11 TB, 4 DI 5.0 Acres IOS Available

86,000 SF | Monroe 4,797 SF Ofc 21’ Clgs, 7 TB, 1 DI, 2+ Acres, Trailer/Storage

60,000 SF | Avenel 7,500 SF Ofc, 20’ Clgs, 7 TB, 1 DI 3.14 Acres, Heavy Power Sale or Lease

BUSSEL REALTY CORP. Licensed Real Estate Broker 2 Ethel Road, Suite 202A, Edison, NJ 08817 | 732.287.3777 | bussel.com The information herein has been obtained from sources considered to be reliable, but no guarantee is made by the Company. Subject to error, omission or withdrawal without notice .

12A — December 2025 — Northern New Jersey — M id A tlantic Real Estate Journal

www.marej.com

N orthern N ew J ersey

And an additional 5,200 s/f office lease at 401 Supor Blvd. Blau & Berg procures 219,365 s/f industrial space lease

At 150 Pacific Avenue in Jersey City Metz Industrial Group of BRC leases 31,567 s/f

JERSEY CITY, NJ — The Metz Industrial Group (MIG) of Bussel Realty Corp. (BRC) , a leading indus- trial/retail real estate services firm in New Jersey, today an - nounced its leased Unit C-1 – 31,567 s/f at 150 Pacific Ave. in Jersey City, a 350,295 s/f industrial complex, to Cabaret Rentals Inc. Jordan Metz , principal, Benito Abbate , senior as- sociate, and James Friel , sales associate, of the Metz Industrial Group of BRC rep - resented the landlord, Eden Wood Realty Corp, in the transaction. The tenant was represented in-house. “This deal reflects the kind of demand we continue to see for well-located, well-managed industrial product in core New Jersey submarkets,” noted Abbate. “150 Pacific Avenue checks every box for operators that need immediate access to Manhattan and the port markets. Cabaret Rentals is a great fit for the space. We’re

ARRISON, NJ — The Blau & Berg Company announced the successful leasing of 214,165 s/f of prime industrial space at 500 Supor Boulevard and an additional 5,200 s/f office lease at 401 Supor Bou - levard, Harrison. The trans- action was procured by the Blau & Berg team of Jason Crimmins, CCIM, SIOR, Alessandro (Alex) Conte, CCIM, SIOR, Peter Murano, Jr., SIOR, Troy Schaafsma, SIOR, and Dylan Meade . This significant lease repre - sents the latest chapter for the iconic former Supor Industrial Complex, a landmark property in the Harrison/Port Newark submarket with unmatched access to Port Newark, Newark Airport, I-95/NJ Turnpike, and the region’s deepest labor pool. The property is comprised of 37.7 acres, mostly fully fenced H HUDSON/BERGEN COUNTIES — Marcus & Millichap announced the sale of a three-tenant strip center anchored by CVS Pharmacy in Union City. The asset sold for $7.8 million. “Stabilized retail centers in northern New Jersey are always in high demand from the investment community,” said Alan Cafiero , senior managing director in Marcus & Millichap’s New Jersey of - fice. “That is especially true for this asset which is located in the most densely populated portion of the state.” Alan Cafiero, Brent Hyl- dahl, and Devin Perez rep- resented the seller, and along with Dean Matuszewicz , procured the buyer. Located at 4700 Bergenline Ave., the 22,000 s/f strip center is occupied by CVS Pharmacy, a laundromat and a physical therapy use on a roughly 0.92- acre parcel. Marcus & Millichap an- nounced the sale of Apple Mon- tessori School, a single-tenant early education property in Township of Washington, NJ. The asset sold for $7.35 million. “Net lease in northern New Jersey is always in high de - mand, specifically Bergen County,” said Alan Cafiero. “This property was newly built with a 15-year triple net lease, which, along with the

150 Pacific Avenue in Jersey City glad to help deliver another strong outcome for Eden Wood and appreciate the smooth col- laboration from all sides.” Set on 18 acres, 150 Pacific Avenue in Jersey City, New Jersey, is a 350,295-square- foot industrial complex located off Exit 14B of the New Jersey Turnpike with immediate ac- cess to the Holland Tunnel to Downtown Manhattan and I-78. The property features 28-foot-high ceilings, nine loading docks, five drive-in doors, dry sprinklers, 2,000 amps of heavy electric power and five acres of industrial out - door storage space and trailer and car parking. MAREJ

500 Supor Boulevard

and secured, and a total build- ing area of ±650,000 s/f across multiple facilities. The Northern New Jersey industrial market is driven by a consistent logistics demand due to the New York Metro - politan demographics and proximity of the to the Port of New York and New Jersey, the busiest East Coast port. Net absorption turned positive at 1.2 million s/f year-to-date,

with vacancy stabilizing at 8%. As deliveries slow post 2025, experts forecast improved transaction volumes and a flight to quality assets capi - talizing on the region’s 20M+ population within 50 miles. There are office suites and only two remaining indus- trial spaces available at this premier location, a 16,105 s/f and a 94,724 s/f with ceiling heights up to 71’ clear. MAREJ

Marcus & Millichap closes 3 Northern NJ sales totaling nearly $22.5 Million

NAI James E. Hanson completes 15,000 s/f and 3.35-acres in NNJ

147–153 Hudson St. in Hackensack

the landlord, KSPF Holdings, LLC, and R yan Edwards of Menlo Group represented Dentistry for Children in the transaction. In Fairfield, NAI James E. Hanson has negotiated the $8.74 million sale of a 3.35-acre industrial property located at 8 Evans St. . NAI James E. Hanson’s Michael G. Walters, SIOR, executive managing direc- tor, Corporate Services, and Cameron Silverstein , as- sociate VP, represented the seller, Anderson and Vree- land Realty Co. , in the transaction with the buyer, KF Mechanical, LLC. “Our client was in a strong position given the unique util- ity and location of the asset,” said Walters. “Properties like 8 Evans Street rarely come to market, and that scarcity helped drive a highly competi- tive process among qualified buyers.” MAREJ

HACKENSACK, NJ — NAI James E. Hanson has negoti- ated the sale of a two-building 12,589 s/f development site located at 147–153 Hudson St. in Hackensack, to the Housing Development Corp. of Ber- gen County .VP Anthony J. Cassano represented the buyer and seller in the transaction. Located steps from the Ber - gen County Courthouse, the property features 25 on-site parking spaces, 8’ to 10’ ceil- ing heights, and highly visible office space with prominent street signage. Zoned for a wide range of commercial uses, the buyer, which owns the land adjacent to the property, plans to develop affordable housing units at the site. In North Bergen, NAI James E. Hanson negotiated a 2,411 s/f lease with Dentistry for Children at 7500 Bergenline Ave. VPs Darren Lizzack, MSRE, and Randy Horning, SIOR, MSRE , represented

Strip center anchored by CVS Pharmacy in Union City

location, attracted the buyer to the asset.” Alan Cafiero, David Cafiero and John Moroz represented the seller and procured the buyer. The newly constructed, 10,000 s/f Apple Montessori School at 95 Linwood Ave. features an in-ground outdoor swimming pool, 5,000 s/f of dedicated playground space, and a covered drop-off area, situated on a 1.5-acre parcel with 33 parking spaces. Marcus & Millichap an- nounced the sale of Union Avenue Retail Center, a 21,897-square-foot center in Rutherford for $7.35 million. “Stabilized retail centers in Bergen County consistently achieve significant investor demand,” said Alan Cafiero, se - nior managing director invest-

ment in Marcus & Millichap’s New Jersey office. “Our team had nearly 10 offers on this property and ultimately closed with a local, cash buyer.” Alan Cafiero, David Cafiero and John Moroz represented the seller and procured the buyer. Located at 308–314 Union Ave., the single-story, seven- unit property was built in 1925 and renovated in 2019 on a 1.9-acre parcel. The center is anchored by Dunkin’ and Kiddie Academy, with other tenants including Three Star News Stand, Next Big Coder, Master Park’s and Laundry Guy’s. The site features a 111-space parking lot, sits less than one mile from the NJ Transit Rutherford Station and is near Route 17, Route 3 and Route 21. MAREJ

M id A tlantic Real Estate Journal — Northern New Jersey — December 2025 — 13A

www.marej.com

N orthern N ew J ersey

Zweibel & Fusaro of The Zweibel Multifamily Group broker 38-unit 55+ community Hudson Atlantic Realty closes $10.8M sale of Kings View Apartments in Netcong, New Jersey

tiled bathrooms, and walk-in closets. Community ameni - ties include a fitness center, resident lounge, on-site park- ing with garages, and laundry facilities on every floor. Its irreplaceable location — just a five-minute walk to Netcong Station with direct NJ Transit service to Penn Station New York City — continues to drive exceptional demand. “This transaction closed at an aggressive 5.75% in-place cap rate reflecting a rare op - portunity to acquire a never- before-traded, 55+ community in one of Morris County’s most

commuter-convenient locations,” said Zweibel Fusaro added, “After more than two decades of owner- ship, the original developer recognized the ideal time to monetize their long-term hold and selected Hudson Atlantic to deliver a seamless deal execution.” The sale further strengthens Hudson Atlantic’s leadership position in New Jersey mul - tifamily investment sales, with Adam Zweibel having personally closed over $2 bil- lion in apartment transactions throughout the state. MAREJ

ETCONG, NJ — Hudson Atlantic Realty announced

the off-mar- ket sale of Kings View Apartments, a 38-unit, 55+ adult c o m m u - nity located at 1 Jenny Lind St. in

Dante Fusaro

Kings View Apartments

Netcong, for $10.8 million ($284,211 per unit). The trans- action marks the first time the property has ever traded since its original development and construction in 2002. The sale was brokered by Adam Zweibel , president, and Dante Fusaro , VP, of Hudson Atlantic’s Zweibel Multifamily Group . Hudson Atlantic elevates Fusaro to leadership role PARSIPPANY, NJ — Hudson Atlantic , a leading real estate brokerage and advisory firm has promoted Dante Fusaro to vice presi- dent of Multifamily Sales. Fusaro joined Hudson At- lantic in March 2022 as a sales associate, quickly be- coming a valuable mem- ber of the team through his dedication and exceptional performance. Over the last 3.5 years Dante has closed more than $40 Million in sales transactions across 250+ units demonstrating his growth in a very competitive industry, depth of expertise, and unwavering commitment to client success. “Dante has been an instru - mental part of our growth and success since he joined the team, when Hudson At- lantic opened” said Adam Zweibel , president of Hud- son Atlantic. “His deep un- derstanding of the multifam- ily market, coupled with his ability to build strong client relationships, has been criti- cal to our ability to deliver exceptional results. We’re excited to see Dante take on this new leadership role as we continue to expand our multifamily sales platform.” In his new role as VP of Mul - tifamily Sales, Dante will over - see client engagements, lead property evaluations and mar- keting strategies, and mentor sales associates. MAREJ

Built in 2002 and recently renovated by the original de- veloper/owner, Kings View is a four-story elevator mid-rise

featuring modern one- and two-bedroom residences with luxurious vinyl plank floor- ing, stainless steel appliances,

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