S hopping C enters C entral NJ S potlight
M id A tlantic Real Estate Journal — Central NJ — May 20 - June 16, 2022 — 5B
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CBRE arranges acquisition of 114,646 sf property in Burlington County submarket Prologis acquires 112 West Park Dr. in Mt. Laurel to develop modern logistics facility
M
T. LAUREL, NJ — CBRE has arranged the acquisition of a
class A office property at 112 West Park Dr. in Mt. Laurel. Prologis , a global leader in lo- gistics real estate, acquired the property from Veritas Real Estate and plans to develop a 184,500 s/f state-of-the-art logistics facility. The CBRE Tri-State In- vestment Properties team of Elli Klapper, Jeremy Wernick, Mark Silver- man and Charles Berger , in conjunction with CBRE’s Kevin Dudley and Brian Fiumara , represented Prolo- gis in the negotiations. “The acquisition of a class A office property for repositioning and developing a warehouse reinforces the strength of the industrial market in New Jersey and the need for more modern logistics facilities,” said Wernick. “Across the re- gion, several office buildings are being purchased with the intent to convert to industrial use. Towns throughout New
112 West Park Dr.
Jersey are supportive to this type of redevelopment as it helps alleviate supply chain pain points and meets the in- satiable demand by companies for industrial space.” “More than ever, companies
recognize the critical role that logistics real estate plays in their supply chains and how being in the right location impacts operations,” said Chi Osu , vice president and invest- ment officer at Prologis. “As
such, we plan to develop a high- quality industrial facility that can accommodate businesses from different industry sectors with varying needs.” 112 West Park Dr. is current- ly a 114,676 s/f office building
situated on 16.82-acres of land. The property is ideally located adjacent to NJ Turnpike (I- 95) and I-295, and is just 20 minutes to PhilaPort (Port of Philadelphia) and Philadelphia International Airport. MAREJ
Capital Realty Associates completes sale of 73-unit multifamily portfolio in Perth Amboy, New Jersey
for investors and residents alike,” added Cooper. Cooper and Halberstam have been very active in the multifamily sales sector on New Jersey having also re- cently completed the sales of a 53-unit portfolio in Atlantic City and a 12-unit portfolio in Jersey City, respectively. Capital Realty Associates is a New Jersey-based com- mercial real estate broker- age firm specializing in the sale of multi-family prop- erties. Capital Realty As- sociates conducts business throughout the state of NJ and provides expert broker- age services providing out- standing results for new and long-term clients. Capital Realty Associates is a repeat recipient of the honorary Co- Star Power Broker Award in northern NJ. MAREJ
PERTH AMBOY, NJ — Capital Realty Associates , a New Jersey-based commer- cial real estate brokerage firm specializing in multifamily property sales, recently com- pleted the sale of a 73-unit multifamily portfolio in Perth Amboy. The portfolio that comprised seven buildings was sold by Lev Properties to a New York-based investor. The team of sales associates Ben Cooper and Solomon Halberstam , completed this transaction on behalf of the parties. The sale price was $11.95 million. “We are pleased have closed this seven-building portfo- lio on behalf of our client,” said Benjamin Greenstein , president, Capital Realty. “At Capital Realty, we take great pride in procuring the most suitable real estate
193 Market Street
315 Herbert Street
203 Market Street
sale include 193 and 203 Market Street; 315 Herbert Street; 390 State Street; 130 Pearl Place; 174 Pulaski Ave. and 459 Penn St. “Perth Amboy is a unique urban area rich with multi-
family properties that are ideal for investors looking to gain a foothold in the region. Its close proximity to some of the state’s major highways and the waterfront make the city of Perth Amboy ideal
transactions for our clients, and strive to arrive at the best terms for all parties involved,” he added. The property addresses that comprised this portfolio
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