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M id A tlantic Real Estate Journal — Northern New Jersey — June 2024 — 5B
www.marej.com
Class A properties totaling 200,000 s/f offer connectivity to the Port of Newark, NYC Lincoln Equities Group breaks ground on two speculative industrial properties in Belleville, NJ B
logistics properties remains strong, we look forward to meeting the market’s de- mand for industrial product with easy access to both high- ways and ports,” said Lincoln Equities Group executive chairman Joel Bergstein . “The Township of Belleville and Mayor Melham were tremendous partners on this project, and we’re thrilled to celebrate this milestone alongside them today.” LEG continues to build a robust portfolio of properties across all asset classes in- cluding 5 million s/f of indus- trial space under development throughout NY and NJ. LEG is responsible for some of the Tri-State’s most transforma- tional developments, including the 152-acre Lincoln Logistics Bayonne campus and Princ- eton West Innovation Campus, a 1.2 million s/f Life Science Campus in Hopewell. MAREJ
ELLEVILLE, NJ — Lincoln Equities Group (LEG) cele- brated the groundbreaking of Lincoln Logistics Belleville. Located at 681 Main St. in Belleville, and adjacent to Rte. 21, the site spans 15.25 acres and will comprise two class A industrial properties – the first totaling 91,746 s/f and the sec- ond totaling 112,661 s/f. With close proximity to all major highways, Lincoln Logis- tics Belleville is ideally located with access to the Lincoln Tun- nel, Holland Tunnel, George Washington Bridge, Ports New- ark and Elizabeth and Newark International Airport all within a short driving distance. “The redevelopment of 681 Main Street will breathe new life into this long va- cant site, but most impor- tantly will also bring new revenue without creating a burden on our Township
Lincoln Logistics Belleville
and the surrounding area for many years to come.” The properties will feature 36-foot clear heights, two drive-in doors per building, ESFR sprinkler systems, am- ple parking and finished inte- rior office space. Built for the
modern industrial user with an appeal to a wide range of tenants, the first building will include 17 dock doors, while the second property will be equipped with 26 dock doors. “As the appetite for strate- gically located and modern
resources or School District,” said Belleville Township Mayor Michael Melham . “We share in LEG’s vision to bring these state-of-the-art logistics properties to this well-located site, which will benefit Belleville residents
Kislak's S.V.P. Janet Bortz & E.V.P. Joni Sweetwood arrange exclusive bulk sale of 46 Units in Union County, New Jersey
able to seamlessly resolve is- sues that stemmed from the transactional complexities.” Tudor Court is a an all brick, garden style cooperative prop- erty located in the desirable North Broad residential section of Elizabeth conveniently locat- ed near NJTransit, shopping, and Kean University. The seller operated the units as rentals, which were historically fully occupied with a waiting list. Janet Bortz joined Kislak in 2002 and is a leading pro- ducer at the firm, and in New York’s Hudson Valley where she specializes in the sale of investment properties includ- ing multifamily, retail, office, and industrial assets. Joni Sweetwood joined Kis- lak in 1996 and is one of the firm’s all-time leading sales- people consistently ranking as a top producer each year. She has won numerous sales awards, including the Sima Kislak Jelin Salesperson of the Year award. MAREJ
WOODBRIDGE, NJ — The Kislak Company, Inc. an- nounced the recent bulk sale
of 46 units at Tudor Court, a cooperative with a total of 85 units, at 800-822 North Broad Street in Eliz- abeth, Union County, for $5.2 million. K i s l a k marketed the units, which represent a majority of the coopera- tive, on an ex- clusive basis with senior
Janet Bortz
Joni Sweetwood
Tudor Court
vice president Janet Bortz and executive vice president Joni Sweetwood handling the assignment. They also procured the purchaser, a longtime Kis- lak client who purchased the units on an all-cash basis. The
parties were not disclosed. Bortz said, “Within two weeks of the seller engaging us on an exclusive basis, we procured a Bergen County- based buyer who proceeded
at the asking price. The large units with below market rents offer excellent upside potential for the purchaser.” Sweetwood added: “Selling 46 co-op apartments within a
larger building is much more complex than selling a tradi- tional 46-unit building. How- ever, by working with Janet Bortz and Jeffrey Itzkowitz of Brach Eichler , we were
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