M id A tlantic Real Estate Journal — September 23 - October, 20, 2022 — 13A
www.marej.com
M id A tlantic R eal E state J ournal
Scheuer of Chaus Realty represents both parties in sale of 109,775+/- s/f industrial building Penwood announces the acquisition of 305 Veterans Blvd. in Carlstadt, NJ
ARLSTADT, NJ — Penwood Real Estate Investment Man- agement, LLC (Penwood) , through its sixth value-added investment vehicle, Penwood Select Industrial Fund VI, L.P. , is pleased to announce the acquisition of a 109,775+/- s/f industrial building situated on 3.5 acres in Carlstadt. The property is ideally situated in the Meadowlands submarket of Northern New Jersey with immediate access to the ma- jor population areas of New Jersey and metropolitan New York City. This location is 6.5 C NAI James E. Hanson negotiates sale of 9,000 s/f mixed-use building in Weehawken, NJ
miles from the Lincoln Tun- nel and midtown Manhattan, 9.5 miles from the Holland Tunnel and lower Manhattan, and 7.5 miles from the George Washington Bridge and up- per Manhattan. The site is also one mile from MetLife Stadium and 15 miles from Newark Liberty International Airport and the Port Newark– Elizabeth Marine Terminal. Andrew MacDonald , vice president of acquisitions at Penwood, commented that “305 Veterans Boulevard is a trophy asset centrally located in the heart of commerce in Northern
New Jersey.” Remell Chung , asset manager at Penwood, notes that “this high-quality asset has been impeccably maintained and will be in high demand from a wide spectrum of tenants.” Penwood has ex- tensive experience developing and/or rehabilitating industrial projects in New Jersey, Penn- sylvania, Southern California, and Las Vegas. Penwood worked closely with Brian Scheuer of Chaus Realty who represented both Penwood and the seller. Chaus Realty has been selected as the exclusive leasing agent. MAREJ
305 Veterans Blvd.
Edwin H. Cohen & Eugene R. Diaz – Principal Partners (201) 567-2711 | www.prismpartners.net 310 Kingsland Street | Nutley, NJ 07110
AVENUE & GREEN | WOODBRIDGE, NJ
THE NELL | DUNELLEN, NJ
3522 Park Ave.
WEEHAWKEN, NJ — NAI James E. Hanson an- nounced the sale of a 9,000 s/f mixed-use building at 3522 Park Ave. in Weehawken. NAI James E. Hanson’s Joan Cenicola and John Schilp represented the seller, 3522 Park Ave, LLC, in the trans- action with buyers, Lennard Charles & Michael Ignatieff. 3522 Park Ave. is a three- story, 9,000 s/f mixed-use building with 3,000 s/f of ground-level retail space and a 1,080 s/f mezzanine. The building also boasts two floors of residential space and on-site parking. Located just off Rte. 495, the building features unrivaled proximity to the Lincoln Tunnel, Rtes. 1/9 and 3 and the New Jersey Tpke. “The Weehawken market continues to see a surge in demand due to its competi- tive pricing and proximity to many of the densely popu- lated surrounding towns,” said Cenicola. MAREJ
WONDER LOFTS | HOBOKEN, NJ
EDISON LOFTS | WEST ORANGE, NJ
Prism Capital Partners is an experienced real estate owner/operator with a proven track record of creating value through select real estate investments and developments. Geographically focused in the tri-state region of New Jersey, New York and Connecticut, Prism specializes in identifying, acquiring and creating unique, value-added opportunities in the residential, office, retail and industrial markets. The company invests with institutional and private capital sources that rely on Prism’s ability to think “outside of the box,” and to identify and realize the highest value potential in real estate endeavors of all sizes. Since its inception in 2002, Prism has orchestrated the repositioning of an impressive list of properties and projects, building on the combined 80-year wealth of real estate knowledge between its principal partners, Edwin H. Cohen and Eugene R. Diaz. From acquisition to disposition, zoning and land use issues, demolition, rehabilitation, construction, marketing, leasing, financing and capital structure, Prism’s unparalleled stewardship delivers excellence from each project’s conception through completion.
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