C — November 8 - 21, 2013 — New Jersey — Mid Atlantic Real Estate Journal


N ew J ersey

Fairfield Corporate Park, Fairfield, New Jersey

106,000 s/f property in South Plainfield sells Cassidy Turley negotiates $8 million sale of facility


ing capability to accommodate its exponentially growing busi- ness. Restaurant Depot will be relocating from its offices at 140 South Ave. in South Plainfield. “The perfect mix of knowledge of the area combined with our ability to fully understand the needs associated with corporate growth initiatives enabled us to present Restaurant Depot with the right opportunity at the right time through 1760 New Durham Ave.,” said Bansbach. “Matching needs while working to achieve goals is one of the many services we provide to our clients. n Michael Cervelli Real Estate, LLC Sells 12 units GUTTENBERG, NJ — Cer- velli Real Estate announces sale of 220 70th Street, a 3 story featuring quick and convenient public transportation access to Manhattan. The property traded for $875,000, which represents an 8.4% capitaliza- tion rate, at $72,916 per unit demonstrating the continuous vibrancy of the North Hudson market. This deal is an example of Cervelli Real Estate’s savvy approach to implementing technology to broker quick and seamless exchanges. Chris Cervelli heard of the deal while traveling, and using their online exchange was able to alert Harald Jonassen of the property. Harald was able to quickly deliver the information to a long-time client and the deal was quickly brought to contract. Cervelli Real Estate’s team based approach, and broad understanding of tech- nology and the market was able to provide value to its client’s Aimed at providing profes- sional brokerage services to private investors and financial institutions involved in income producing multi-family proper- ties and shopping centers, the company has posted steadily in- creasing sales results. Cervelli has an undisputed reputation of honesty, integrity and experi- ence in the Investment. n Chris Cervelli brick apart- ment house l o c a t e d i n Guttenberg, NJ. The area has recently been a hub of activity for mu l t i - f am- ily investors,

OUTH PLAINFIELD, NJ — Cassidy Turley , a commercial real estate

FOR LEASE 32,000 Square Foot Industrial Building

services provider in the U.S., has negotiated the sale of 1760 New Durham Ave. in South Plainfield, NJ, for $8 million. Doug Bansbach , senior vice president, principal of Cassidy Turley represented the seller, USLR. Joseph Santoro , own- er of RE/MAX Commercial Real Estate represented the buyer, Restaurant Depot. The facility was attractive to Restaurant Depot, a wholesale food distribution service with over 100 locations in 26 states, because of the expanding park-

* Warehouse/Manufacturing * 6,000 Square Feet Office – Can be reduced * 20 Ft Ceiling Height / 4 Tailgate Doors / 60+ Car Parking * Attractive rental rates and terms available.

S HELDON GROSS REALTY, INC. REALTORS Ɣ Corporate Real Estate Services 80 Main Street, West Orange, NJ 07052 Tel.#973-325-6200 - Fax.#973-325-9090 E-mail: sgross@sheldongrossrealty.com

1760 New Durham Ave.

Dominance: “...most influential, having a commanding position.” (Webster’s) Q2 2013 • 22 DEALS • Still Averaging 2 Deals A Week DOMINANCE. New Jersey’s dominant brokerage firm specializing in the sale of

multi-family, retail, and commercial investment properties for private investors, REITS, and other institutional clients.

INVESTMENT REAL ESTATE 2 West Northfield Road, Livingston, NJ 07039 Tel. (973) 994-4500 Fax (973) 994-9752 Visit us on the web at: www.gebroehammer.com Email: info@gebroehammer.com

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