18 — October 2024 — New Jersey — M id A tlantic Real Estate Journal
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N ew J ersey
Bussel Realty Corp. leases 7,500 s/f in Roselle, NJ
Neuer, Cruz &Patel secure the sale on behalf of the seller JLL closes $14.75 Million sale of 90,008 s/f office building
need for ready-to-use space for the temporary storage of commercial and passenger vehicles, we leveraged our deep market knowledge and robust platform to identify, negotiate, and close the deal in less than three weeks. This rapid execution high- lights our commitment to delivering tailored solutions that meet our clients’ needs on time and with precision,” said Phillips. Acertus Transportation is the only automotive logistics platform that moves, stores, reconditions, titles, and reg- isters finished vehicles. The company’s complete, start-to- finish service is driven by a transformative combination of technology, people, and ex- perience that turns logistics into a competitive advantage for anyone moving vehicles. W.J. Rapp has over 50 years of experience in con- crete construction, repair, excavation, and demolition and provides general con- struction and emergency services to various indus- tries in Virginia, Maryland, Washington D.C., and the surrounding states. The Advance Industrial Group (The AI Group) is a strategic team within Bussel Realty Corp. that leverages a proprietary platform to opti- mize the equity and position of industrial real estate own- ers and occupiers alike; often driven by estate planning for generational wealth creation and preservation. The team is comprised of members from varied backgrounds including military roots, tax accounting, family trucking and facility maintenance businesses, among others. These experiences afford a deep understanding of busi- ness planning and market dynamics, which delivers tailored solutions to meet the unique needs of their clients. Bussel Realty Corp. is a leading industrial/retail real estate services firm located in Southern New Jersey with individual mem- berships in the Society of Office & Industrial Real- tors (SIOR). BRC provides leasing and sales brokerage services to users, corporate occupiers, landlords, retail- ers, owners, and investors, representing millions of square feet of property and tenant client assignments annually. MAREJ About Bussel Realty Corp.
ROSELLE, NJ — Bus- sel Realty Corp. (BRC) , a leading industrial/retail real estate s e r v i c e s firm in New Jersey, an- nounced its leased 7,500 s/f at 197 East High- land Pkwy. in Roselle, a 9,400 s/f in- dustrial building, to Lucky Construction LLC . Steve Jaynes , industrial specialist, of BRC repre- sented the landlord, East Deal Inc. / MM Realty , and Lucky Construction LLC in the transaction. “It was a pleasure to rep- resent our client in locat- ing the ideal tenant for 197 East Highland Parkway,” said Jaynes. “The property’s location and features are perfectly suited for their construction business and clients in the area.” 197 East Highland Pkwy. located near Route 1-9, the New Jersey Tpke., Gar- den State Pkwy., Goeth- als Bridge, Port Newark/ Elizabeth and Newark Lib- erty Airport. The property features 17-foot-high ceil- ings, drive-in loading, ample power and parking. Lucky Construction special- izes in a wide range of services ranging from simple construc- tion to masonry and plumbing services. The company prides itself in acting as a construc- tion partner invested in its cli- ents’ vision and seeks to build lasting relationships within the community. In other Bussel news, The Advance Industrial Group of Bussel Realty Corp. announced that it has leased 1.8 acres of indus- trial outdoor storage (IOS) space at 614 Maury St. in Richmond, VA, on behalf of Acertus Transportation. Matthew Phillips , direc- tor of Asset Services, and Anthony Rittwager , senior vice president of the Advance Industrial Group at BRC represented Acertus Trans- portation. The landlord, W.J. Rapp , was represented by Isaac DeRegibus , senior vice president of Thalhimer . “Our ability to quickly un- derstand and respond to our client’s urgent requirements was key to securing the 1.8- acre site at 614 Maury St. in Richmond, Virginia, for Acertus. With a pressing Steve Jaynes
INTON FALLS, NJ — JLL Capital Mar- kets has closed the $14.75 million sale of 100 Tormee Dr., a 90,008 s/f office building in Tinton Falls. JLL marketed the property on behalf of the seller and procured the buyer, Rockford Holdings . 100 Tormee Dr. is located in the heart of Monmouth County, an affluent area along the coast in central New Jersey. The 8.65-acre site is positioned just off of the Garden State Pkwy., which is the primary north south thoroughfare providing access to Manhattan and the greater Tri-State area. Addi- tionally, the property is in an amenity rich location offering shopping at the Monmouth Mall or Jersey Shore Premium Outlets, walkable downtown areas in nearby Asbury Park and Red Bank and access to Monmouth University, a pri- vate university ranked among the top universities in the Northern region. Completed in 2001, the UNION CITY, NJ — Mar- cus & Millichap , a commercial real estate brokerage firm spe - cializing in investment sales, financing, research and advi - sory services, announced the sale of Four Eleven Apartments in Union City, for $2,115,000. “Value-add multifamily prop- erties in North Hudson County remain highly sought after within the investment com- munity,” said Devin Perez , associate. “We generated seven competitive offers within the first two weeks of marketing.” Perez, Jed Matricaria, Daniel Aviles, Brent Hyl- dahl and Alan Cafiero , in- vestment specialists in Marcus & Millichap’s New Jersey of- fice, had the exclusive listing to market the property on behalf of the seller, Spat LLC, and procured the buyer, a local private investor. T “We needed to secure a buy- er who could complete due diligence upfront, take the building as is, and adhere to a tight closing timeline,” said Aviles, first vice president in - vestments. “We marketed the property widely but focused on a specific list of investors we knew could deliver. The buyer
Jeremy Neuer
Jose Cruz
Pranav Patel
100 Tormee Dr.
building has been fully leased since completion due to its unique infrastructure in- cluding heavy power and fiber connectivity. The JLL Capital Markets
Investment Sales and Advisory team representing the seller was led by senior managing directors Jeremy Neuer and Jose Cruz and senior analyst Pranav Patel . MAREJ
Marcus & Millichap brokers sale of Four Eleven Apartments for $2.115M
Four Eleven Apartments
with the best track record won the deal and delivered as prom- ised,” he added. The property, located at 411 15th St., is a solid brick, five- story walk-up apartment build- ing with 17 residential units, comprising 13 one-bedroom,
one-bath units and four two- bedroom, one-bath units. The building, which totals 13,400 s/f, is situated near major trans- portation routes, including the Lincoln Tunnel, Interstate 495, and multiple bus routes into New York City. MAREJ
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