Mid Atlantic Real Estate Journal — Brokerage Directory — July 26 - August 15, 2013 — 11C
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B rokerage D irectory
ONTCLAIR,NJ—The sale of a Montclair re- development site has Partnership Plans Mixed-Use Project on Former DCH Automotive Group Property Cushman & Wakefield inks sale of Montclair, New Jersey redevelopment site M
closed, pav- ing the way for a mixed- use project at 638 Bloom- f i e l d Av e . , a n n o u n c e d Cushman & Wa k e f i e l d , Inc.’s Metro- politan Area Capital Mar- kets Group. DCH Aut o - motive Group sold the par- cel, which for many years s e r v e d a s home to a car dealership, to a co-develop- ment partner- ship of LCOR and The Pin- nacle Cos. Located on t h e t own ’s w e s t e n d , Phas e I o f the redevel- opment plan is to include 259 residen- tial units, 571 parking spac- es, 23,055 s/f of office space and 22,340 s/f
Brian Whitmer
638 Bloomfield Ave.
Andrew Merin
TrUsT.
It’s not just part of our name. It’s our commitment to YOU. Always.
David Bernhaut
Gary Gabriel
of retail. The project will incor- porate an existing parking deck on the site. Asecond phase of the redevelopment will include a boutique hotel. The new owner- ship plans to develop the entire property to LEED green build- ing standards. “DowntownMontclair’s urban renaissance is well underway and picking upmomentum, with a number of local initiatives, which will be further enhanced by the new upscale residential, retail and office components of Phase I of the Montclair Center Gateway Redevelopment Plan,” said Cushman & Wakefield’s Brian Whitmer, who handled the assignment with teammem- bers Andrew Merin, David Ber- nhaut and Gary Gabriel. “This is a premier, highly visible site prime for mixed-use development,” Whitmer added. “It sits at the intersection of Valley Rd. – within walking distance to a Whole Foods, many restaurants and shops, and an NJ Transit commuter rail station servicing Manhat- tan commuters.” n
Sales | Leasing | Investment | CRE Advisory Services
Shawn M. Donahue, MBA Costas J. Hrousis, CCIM | Co-Founder + Principal | Co-Founder + Principal
610.997.0100 | www.VeraxiaCRES.com | Bethlehem, PA
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