6B — June 12 - 25, 2015 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N orthern N ew J ersey 41,500 s/f clubhouse, swimming pools, tennis courts, driving range, putting greens & more Cushman & Wakefield inks sale of 185-acre Edgewood Country Club in River Vale, NJ R IVER VALE, NJ — As the 2015 golf sea- son heats up, Edge-
Golf Course Realty Associ- ates, acquired the 185-acre property from Edgewood Country Club Inc. Terms of the transaction were not disclosed. Located at 449 Rivervale Rd., Edgewood Country Club operates as a private, 27-hole golf course and country club facility. The property includes a 41,500 s/f clubhouse, swimming pools, tennis courts, driving range, putting greens, snack bar, banquet facilities, and other amenities. Cushman & Wakefield brought the
55-year-old establishment to market earlier this year. “We received more than one dozen offers from inves- tors recognizing the rare op- portunity to acquire a large property in the wealthiest county in New Jersey,” said Cushman & Wakefield’s Gary Gabriel , who head- ed the assignment with Metropolitan Area Capital Markets teammembers An- drew Merin , David Bern- haut , Brian Whitmer and Ryan Dowd . “We ran the process as one that would enable Edgewood to sell the property but maintain its operation as a premier country club and golf course. This was the fastest closing, from start to finish, we have ever seen.” n The Azarian Group acquires The Shoppes at North Brunswick NORTH BRUNSWICK, NJ — John M. Azarian, CRX, CSM , CEO of The Azarian Group, LLC . an- nounced his company’s recent acquisition of The Shoppes at North Brunswick, 650 Shop- pes Boulevard, North Bruns- wick, New Jersey, a 150,000 s/f lifestyle center. The Shoppes at North Brunswick is occupied by national and franchise ten- ants, including Banana Re- public, Talbots, Five Below, Anthropologie, Starbucks, White House/ Black Market, Aeropostale, Chipotle and 34 more. New store openings include Charming Charlie, Corner Bakery and Super- cuts. Wingstop will be open- ing soon. The Shoppes at North Brunswick is conveniently located in a highly promi- nent location along Route 1, the main north/south thor- oughfare running through North Brunswick, providing access to the NJ Turnpike, Garden State Parkway and I-287. Minutes from Rutgers University. Prime retail and office spaces are available for lease. Founded in 1970, The Azar- ian Group currently owns and manages 17 income produc- ing properties totaling over 1,150,000 s/f with more than 317 tenants throughout New Jersey and New York. n
wood Coun- try Club in River Vale has traded hands in a fast -paced t r a n s a c - tion orches- t r a t e d b y Cushman
Gary Gabriel
& Wakefield ’s Metropoli- tan Area Capital Markets Group. The Witmondt and Schonbraun Families, op- erating through Edgewood
Edgewood Country Club
We’ve got the capital connections to deliver the right results.
R E C E N T N O R T H M A R Q T R A N S A C T I O N S
$29,000,000 Big V Shopping Center SIZE: 241,755 SF/PERMANENT LOAN CITY: NEW WINDSOR, NY LENDER: LOCAL BANK
$27,500,000 Fairless Hills Shopping Center SIZE: 292,847 SF/BRIDGE LOAN CITY: FAIRLESS HILLS, PA LENDER: DEBT FUND
$16,500,000 New Jersey Health Care Center SIZE: 74,556 SF/PERMANENT LOAN CITY: ORADELL, NJ LENDER: LIFE COMPANY
36 Offices Coast-to-Coast
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GREG NALBANDIAN MANAGING DIRECTOR 973.944.5728 gnalbandian@northmarq.com CRISTINA KLOSS VICE PRESIDENT 973.944.5725 ckloss@northmarq.com NEW JERSEY OFFICE | 36 CATTANO AVENUE SUITE 600 MORRISTOWN, NJ 07960 GARY COHEN SENIOR VICE PRESIDENT 973.944.5724 gcohen@northmarq.com
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