Mid Atlantic Real Estate Journal — New Jersey — November 8 - 21, 2013 — 15C
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N ew J ersey
IVINGSTON, NJ — Marcus &Millichap Real Estate Invest- Kelso, CCIM brokers transaction Marcus & Millichap arranges sale of $6.27 million building L
ment Services , one of the nation’s largest real estate investment services firms, has announced the sale of a 38,864 s/f office property located in Livingston, NJ, according to Ryan Nee , re- gional manager of the firm’s New Jersey office. The asset sold for $6,270,000. David Kelso, CCIM , an associate director in Marcus &Millichap’s National Office & Industrial Groups New Jersey office, had the listing to market the property on behalf of the seller. Kelso also represented the buyer in this transaction. This real estate opportu- nity, a professional office building is located at 301 S. Livingston Avenue, in the center of Livingston, New Jersey. The property has enjoyed a history of stable occupancy with local pro- fessionals and a Sovereign Bank branch. The building is 38,864 square feet and is located within easy walking distance to area amenities including restaurants, dry cleaners, and a Kings Super- market. The property is eas- ily accessible to major road arteries including Routes 280, 24/78, 287, the New Jer- sey Turnpike and the Garden State Parkway. Kelso noted that the office investment
38,864 s/f Office Building in Livingston, NJ
market for well located assets is improving, as evidenced by the multiple offers received
for this asset during the mar- keting process. n
NAI Hanson Completes 18,710 s/f Lease Renewal and Expansion
represented the tenant, while Howard Weinberg , SIOR, formerly of Cassidy Turley, rep- resented the landlord. Owned by IndCor Prop- erties, Inc., the one-story, 120,000 s/f industrial building also has a one-story, 5,500 s/f outbuilding on 6.62 acres. The property offers 14-to 22- foot ceilings, a dock high and drive-in loading as well as ample parking. The Morris County site is minutes from Route 287 and in close prox- imity to major roadways in Northern New Jersey n
WHIPPANY, NJ — NAI James E. Hanson , a leading New Jersey-based commercial real estate firm, announced the completion of an 18,710 s/f industrial lease transaction at Whippany Business Center, located at 1 Apollo Drive in Whippany, N.J. The transaction is an expan- sion of the tenant’s previous lease. Last year, the tenant, Z&ZSupply, Inc., doing business as Johnstone Supply, inked a 13,210 s/f lease and added 5,500 s/f NAI Hanson vice president Steven G. Leitner, CCIM ,
OFFICE BUILDINGS FOR SALE OR LEASE (609) 921-7655
Woodbourne Professional, Levittown, PA Sale Price $1.3 Million * Sizes from 850 -2,400 SF * Lease prices from $1,000 - $3,000 / Mo.
The Gatherings, Penns Park, PA
Hyde Park, Doylestown, PA * 2,700 SF * Lease price $3,359 / mo. * Condominium for sale* *Inquire for price * Cluster of 6 buildings / mixed use * Sizes from 850 – 2,400 SF * Lease prices from $1,000 - $3,000 / Mo. * Sale information available* *Inquire for price
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