14B — July 13 - 26, 2012 — New Jersey — Mid Atlantic Real Estate Journal
www.marejournal.com
N EW J ERSEY
Lundberg of NAI Hanson reps seller The Hampshire Cos. sells 85,000 s/f industrial bldg. their investment.”
On two NJ hotels in Galloway & Farmingdale Optimum Hotel Brokerage sells first mortgage notes
NORTHVALE, NJ — The Hampshire Companies an- nounced the sale of a 85,000 s/f industrial/flex facility lo- cated at 10 Fairway Court in Northvale, N.J. The sale was made to Fillo Foods, a rapidly growing producer of convenient gourmet, organic and natural foods. “Fillo Foods had previously entered into a lease for the entire building, which included an option to purchase the prop- erty,” said Michael Harrington, an investment manager for The Hampshire Companies. “Fillo has commenced a plan to renovate the building in order to meet their own custom stan- dards, and by exercising their option to purchase the property they can further benefit from
Kenneth Lundberg, SIOR of NAI James E. Hanson repre- sented The Hampshire Com- panies in the transaction. Fillo Foods was represented by Mitch Helfman of MRH Real Estate. HACKENSACK — The Hampshire Companies an- nounced the disposition of a 25,000 s/f multi-tenant indus- trial building located at 59 Oak St. in Hackensack. Fully leased to five industrial users, the property enables im- mediate access to Rte. 4 and the Bergen County business community. Tom Vetter and Jeff DeMag- istris of NAI James E. Hanson representedHampshire and the buyer in the transaction. ■
ARMINGDALE, NJ — Optimum Hotel Bro- kerage has closed on the first mortgage note sale of two New Jersey limited service hotels: the Ramada Limited in Galloway and the Econolodge in Farmingdale. Joseph Mc- F
Cann, Optimum’s president, was the hotel broker and li- censed New Jersey real estate broker representing the seller in both note sale transactions, a regional bank. The buyers of the notes were each regional hotel investors.
“The Ramada Limited hotel is a 129-unit former Hampton Inn located in the rebounding Atlantic City market” said McCann, “and the Econolodge Farmingdale is a 30-unit lim- ited service hotel in theAsbury Park/Neptune market.” ■
Students, staff and family honor Isaac “Ike” Heller
Fisher Development Associates completes sell-out of Crystal Point in Jersey City
JERSEY CITY, NJ — Fisher Development has completed the sell-out of Crystal Point, a residential building ris- ing 42 stories in downtown Jersey City directly facing Manhattan. The building’s 269 upscale condominium homes have been sold just three years after its debut to the public in 2009. “It’s no secret New York City views have always played a role in the rise of downtown Jersey City as a residential destination,” said Brian Fisher, principal of the firm that bears his name, “and this building offered some of the most amaz- ing views not only in Jersey City, but along the entire New Jersey ‘Gold Coast.’ It was a no brainer in terms of location.” “We had a vision for Crys- tal Point,” said Fisher. “The primary goal was to create a building that would meet the City’s guidelines for the con- tinued redevelopment of its downtown urban waterfront and kept the needs of the com- munity-at-large in mind. “From a consumer stand- point, we understood the state of the real estate market in 2009. To conform to market needs, we wanted to intro- duce a world-class high-rise that provided the same level of luxury and exclusivity so- phisticated homebuyers were accustom to at the height of the real estate boom, but at competitive prices that would offer clear value.” The Marketing Directors,
EDISON, NJ — Over 170 current and past students, families and staff of the John Kenney Child Care Center in Edison came out to pay tribute to Isaac “Ike” Heller, founder of Heller Industrial Parks, who built and subsidizes the school, which was celebrating its 25th anniversary this June. To entertain the guests, the festivities included a perfor- mance by Yosi, a composer and performer of children’s songs, a balloon artist, face painting, a snow cone machine and other assorted treats. On display was 25 years of class photos, including past staff and high- school volunteers. “Child care is an even-more significant issue for families than it was 25 years ago so there is a continuing need for this center, which has served as a model for others and was considered an ‘Impossible
Dream’ at that time,” said Heller, Chairman of the Board of Heller Industrial Parks, Inc. “We have always believed in the importance of investing in the community and in our employees. It’s amazing to see the vital role this center has played to enrich the lives of so many over the years. To this end I am establishing a trust to ensure that this center will have our financial support for generations to come.” The center provides a safe, healthy and educational en- vironment for area children through subsidized care for Heller Park employees, Edison residents, Edison Township School and municipal employ- ees. The center was named for the late John Kenney, an active Edison resident who teamed with Heller to defeat the con- struction of a garbage incinera- tor slated for the site. ■
Crystal Point
Inc. was brought on board from the onset to direct the sales and marketing pro- gram. “We knew we had several important factors on our side, none more important than
a developer with a sterling reputation, personal approach to customer satisfaction and long history of responsible development,” says Adrienne Albert, CEO of The Marketing Directors, Inc. ■
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