Real Estate Journal — New Jersey — January 11 - 24, 2019 — 19B
www.marejournal.com
M id A tlantic
N ew J ersey Trinity Rehab is on the move throughout New Jersey with an aggressive expansion SRM continues its presence in Union County through the sale of a ± 12,000 s/f commercial building
U
NION COUNTY, NJ — David Greenman senior VP Retail Ser-
vices Group at Silbert Real- ty&Management Company, Inc. (SRM) announced the following transactions: The sale of a two story of- fice building situated along State Rte. 22 W within Moun- tainside Union County. This class B 11,642 s/f two-story professional office building affords potential expansion to new owner, Mountainside Professional Plaza LLC, an established automotive sales company, for their back office operations. Greenman has completed an extensive and successful marketing campaign result- ing in the sale of a ±6,200 s/f former Famous Dave’s res- taurant location, situated at 53 US Highway Rte. 1. This prime real estate is adjacent the Menlo ParkMall and other national retail and restaurant establishments along this ma- jor north-south corridor. The property was sold to an excit- ing new restaurant concept with the existing consumption liquor license. Procida refinances a classic banquet hall in Wood-Ridge WOOD-RIDGE, NJ — Procida Funding, LLC pro- vided a $7 million Debt Re- financing & Rehabilitation Loan, on behalf of The 100 Mile Fund, which Procida manages, to consolidate exist- ing debt and complete minor property improvements of the Fiesta Banquet Hall located at 255 Rte. 17, Wood-Ridge. “We came into 2018 with a defensive investment strat- egy. A family owned cater- ing hall, that has survived a number of recessions is a part of an asset class we like,” said Brian Foley , head of origina- tions at Procida Funding & Advisors. In other news, Procida Funding, LLC provided a $1.75 million debt consolida- tion loan, on behalf of The 100 Mile Fund to refinance the existing debt on Hobby Lobby Marine located at 1427 Bay Ave. and 40 Wilkens Rd. in Toms River. Hobby Lobby Marine is a boat repair facility and marina owned by the Tweer Family since 1961.
Office building situated along State Rte. 22 W within Mountainside Union County
As representative and con- sultants for Trinity Rehab, Greenman and Joel Tom- linson, assistant VP retail brokerage have successfully implemented a growth strat-
egy for its client in the leasing of several new locations for this ever growing 17 year old physical therapy center. Slated to open during 2019, new physical therapy lo-
Former Famous Dave’s restaurant
cations include Metuchen, Middlesex County, Sparta, Sussex County, Livingston, Essex County andManalapan,
Monmouth County. A number of additional future Trinity Rehab locations are pending throughout the state.
P o s k a n z e r S k o t t A r c h i t e c t s 550 North Maple Avenue, Ridgewood, NJ 07450 201.445.2322 www.poskanzerskott.com
Made with FlippingBook HTML5