Mid Atlantic Real Estate Journal — New Jersey — February 10 - 23, 2012 — 27A
www.marejournal.com
N ORTHERN N EW J ERSEY
The Hampshire Cos. sell two leased units in Fair Lawn
Cafiero, Sgambati and Bradshaw market property Marcus &Millichap sells 8 acres in Kenvil, Morris County
FAIR LAWN, NJ — The Hampshire Companies an- nounced the disposition of two units, a total of 39,035 s/f, in an industrial condo building located at 15-01 Pollitt Dr. The sale was made to Fair Lawn Industrial Properties, LLC. “The building’s excellent location in one of the most desirable areas of Northern New Jersey and its flexible business options made this
an ideal opportunity for the buyer,” said Kristin Hanson, an investment manager of The Hampshire Companies. “With an existing major tenant and versatile space options, the property fully met the buyer’s needs and growth goals.” David Thurston of Marcus & Millichap Real Estate Invest- ment Services represented The Hampshire Companies in the transaction. ■ of the office in early 2011. The new lease allows the company to relocate its headquarters from its current location in Paramus, and is in keeping with Cresa New Jersey’s expec- tation to significantly grow over the next few years. ■
K
ENVIL, NJ — Marcus & Millichap Real Es- tate Investment Ser-
and Urszula Zoltek, invest- ment specialists in Marcus & Millichap’s New Jersey office, had the listing to market the property on behalf of the seller, a private investor. They also secured and represented the buyer, a local business operator who plans to move his business to the property. The property has three main street office suites occupied by a taxi cab business, computer repair shop, and a real estate agency. With lots of pedestrian and vehicular traffic, this qual- ity construction building is a great location for an owner/ user. ■
vices has announced the sale of an 8 Acre property located in Kenvil, according to Michael Fasano, vice president/regional manager of the firm’s New Jer- sey office. Alan Cafiero, senior associ- ate, Ben Sgambati, vice presi- dent investments, and Brent Bradshaw, investment special- ists in Marcus & Millichap’s New Jersey and Indianapolis offices, had the listing to mar- ket the property on behalf of the seller, a Midwest trans- portation company. They also Advance Realty’s Banaszynski brokers 21,604 s/f MORRIS TOWNSHIP, NJ — Advance Realty, a owner and developer of class A office and mixed-use properties, announced that Arch Rein- surance Company has signed a 21,604 s/f lease to join the tenant roster at Advance@ Southgate, Advance’s office property at 445 South St. “At Advance@Southgate, Arch Reinsurance joins compa- nies such as Covanta, Travel- ers and Marsh USA,” Advance Realty Managing Director Brian Banaszynski said. “This roster of high-quality tenants is a testament to the building’s premier location and first- class amenities.” Advance was represented in the transaction in-house by Banaszynski, while CBRE executive vice president Paul Jacobs and senior vice presi- dents Colin Reilly and David Opper represented Arch. ■ PARAMUS, N.J. – HornRock Properties a Paramus based developer of residential and commercial properties has launched an acquisition pro- gram to expand its portfolio in the Northeast and will look to acquire $125 million worth of real estate within the next 12 months. In alliance with developer Fieldgate Homes, HornRock Properties will pur- sue a variety of residential, commercial and mixed-use projects, with a focus on the New York/New Jersey urban and suburban markets. ■ Hornrock Props. an- nounces plan to a c q u i r e $ 1 2 5m worth of real estate
25 Berkshire Valley Road
RUTHERFORD, NJ — The New Jersey-based office of Cresa has signed a lease at 201 Rte. 17 North. The New Jersey office has been expanding its capabilities since co-manag- ing principals Tom Giannone and Ron Ganter took the helm Cresa’s NJ office moves to Rutherford
secured and represented the buyer, a local operator. The subject property is locat- ed at 25 Berkshire Valley Rd. RUTHERFORD, NJ — Mar- cus & Millichap announced the sale of 14 Ames Ave., a 2,528 s/f mixed-use property. Thomas McConnell, CCIM
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