M id A tlantic Real Estate Journal — New Jersey — June 2024 — 1B
www.marej.com
6.24
Cushman & Wakefield’s Tri-State Capital Markets closed in excess of $2.4 billion of office, industrial, retail, land and multifamily transactions in the past 12 months. RECENT SUCCESSES & NEW DEALS
MARKETING
209 VALLEY STREET South Orange, NJ 106 Units Luxury apartment units with 8,366 SF of commercial space completed 2023. Upscale amenity package with covered parking, fitness center, and rooftop deck.
340 MOUNT KEMBLE AVE Morristown, NJ 439,059 SF
2401 LOCUST STREET Philadelphia, PA 46,319 SF 4-story boutique telco hotel, anchored by Verizon. 86%
Class A+, 4-story office building 95% leases to investment grade tenants. $50M
occupied with $41.78 average rent. 32% NOI growth potential over 10 year hold.
renovation project with glass facade, new roof, and complete lobby, & common area
SOLD
I-80 INFILL PARK Paterson, NJ 191,942 SF 2 building industrial park 100% leased to 4 tenants with a 2.6 WALT. $7.46 PSF average rent, 50%
600 WILLOW TREE ROAD
370 ESSEX STREET Lodi, NJ 127,287 SF Long term lease to AAA Wholesale through
Leonia, NJ 123,432 SF
100% leased for +10 years with current rents 29% below market and coterminous 2.9 year WALT. Five minutes from GWB, I-95 and I-80.
5/2037. +$6.7M of recent capital improvements. 10 loading positions with up to 26’ clear
below market. 7.4 acres with 1 acre of outdoor storage.
CAPITAL MARKETS GROUP
ANDREW MERIN andrew.merin@cushwake.com DAVID BERNHAUT david.bernhaut@cushwake.com GARY GABRIEL gary.gabriel@cushwake.com NIKO NICOLAOU niko.nicolaou@cushwake.com KYLE SCHMIDT kyle.schmidt@cushwake.com FRANK DITOMMASO frank.ditommaso@cushwake.com ANDREW SCHWARTZ andrew.schwartz@cushwake.com DAVID OROPEZA david.oropeza@cushwake.com
DAVID JARVIS david.m.jarvis@cushwake.com JUSTIN LUPO justin.lupo@cushwake.com RYAN DOWD ryan.dowd@cushwake.com RYAN LARKIN ryan.larkin@cushwake.com SETH ZUIDEMA seth.zuidema@cushwake.com BILL BAUNACH bill.baunach@cushwake.com MAX HELFMAN max.helfman@cushwake.com JORDAN SOBEL jordan.sobel@cushwake.com
ANDRÉ BALTHAZARD andre.balthazard@cushwake.com PETER WELCH peter.welch@cushwake.com JEAN-PIERRE HOHL jeanpierre.hohl@cushwake.com MAIA SIRABIAN maia.sirabian@cushwake.com MICHAEL GUERRA michael.guerra@cushwake.com SAMANTHA MILLER samantha.a.miller@cushwake.com MORGAN BRECHMAN morgan.brechman@cushwake.com DAVID BETESH david.betesh@cushwake.com
RYAN KELLY ryan.kelly1@cushwake.com DAN BOTTIGLIERI daniel.bottiglieri@cushwake.com
CUSHMAN & WAKEFIELD, INC. CAPITAL MARKETS GROUP One Meadowlands Plaza, 7th Floor East Rutherford, NJ 07073 T / +1 201 935 4000 E / investment.sales@cushwake.com
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