WHITE PLAINS, NY — Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains office negotiated construction financing of $10 million for Opus. The 49-unit multifamily property will be located on Ridge Rd. in North Arlington, NJ. The transaction was structured with an 18-month interest-only term. NorthMarq arranged financing for the borrower through its relationship with a local bank. Read More #CRE #commercialrealestate #multifamilyCRE
UNION COUNTY, NJ — David Greenman senior VP Retail Services Group at Silbert Realty & Management Company, Inc. (SRM) announced the following transactions:
The sale of a two story office building situated along State Rte. 22 W within Mountainside Union County. This class B 11,642 s/f two-story professional office building affords potential expansion to new owner, Mountainside Professional Plaza LLC, an established automotive sales company, for their back office operations.
EDISON, NJ — CBRE announced the $83 million sale of Middlesex Logistics Center in Edison. A joint venture of ASB Real Estate Investments and Cohen Asset Management acquired the fully leased, class A property located at 549 Mill Rd., from JP Morgan Asset Management.
CBRE National Partners Brian Fiumara, Mike Hines and Brad Ruppel, along with Tom Monahan, negotiated the sale on behalf of JP Morgan Asset Management.
“This sale is yet another indication of how active the indust
Deck the malls because ‘tis the shopping season that is set to be even more spectacular than the last. As colorful lights line the streets and stores are crowded with s h o p p e r s , NYC is one of the world's best places to be during this time of the year. On Fifth Ave., Nike's newest location launched at 650 Fifth Ave.; Nike House of Innovation 000 and it is a retail revolution for athletics. The first floor, called the Nike Arena, is built like a soundstage. Customers wil
So you've finally found that perfect piece of real estate – but unfortunately, the bank doesn’t seem to agree because it’s not located near a population center.
Traditional financing institutions are not willing to fund deals outside of cities or other major population center, citing risk aversion. Banks and other conventional lenders are concerned about what will happen in the event a borrower defaults on their loan. For properties in and around cities, lenders presume tha
While the closure of beloved national and international retail store chains could leave millions of s/f of the mid-Atlantic region’s commercial real estate vacant, forward-thinking companies likely already have started scouting these locations to see what kind of future business opportunities may be available at these sites.
This year alone, Toys R Us has announced it will close its entire fleet of stores and companies like the Ascena Retail Group – the parent company of Ann
Hoboken, NJ — Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of The Rivington, a 240-unit, luxury apartment community in Hoboken. This transaction represents the largest apartment sale in New Jersey in 2018.The HFF team marketed the property on behalf of institutional investors advised by J.P. Morgan Asset Management. Equity Residential purchased the property free and clear of existing debt.The Rivington is situated at 1130 Grand St. in the heart of the dynamic north
Mechanicsburg, PA and Hamden, CT — Wilder, the national retail real estate leasing, management, and development firm, in partnership with an institutional real estate fund, continues to add to its portfolio by acquiring two more market dominating centers; over 800,000 s/f of space.
Silver Spring Square in Mechanicsburg, PA is home to the only Wegman’s in the Harrisburg trade area. The powerhouse center is shadow anchored by the third ranking Target in its 13-store district,
Gacek Design Group is laser focused on the transformation we see in Design, particularly as it relates to our clients in the housing industry. The shifts in demographic trends have positively impacted multifamily housing with Millennials continuing to play a prominent role in renting. And as Baby Boomers enter the rental market, it can be challenging to determine the right housing/amenities that resonate with the lifestyles of both target markets. How do you accomplish this?
Hackensack/Fairview/Passaic, NJ — In Bergen and Passaic counties, where effective rents are projected to advance modestly through 2019, Gebroe-Hammer Associates has arranged three separate transactions totaling 145 units sold for a combined $22.6 million. The brokerage team of executive managing director David Oropeza and senior vice president Nicholas Nicolaou, along with executive vice president Greg Pine, arranged the sale of a three-property package in Hackensack for $18
Silver Springs, MD — Marcus & Millichap, a commercial real estate investment services firm with offices throughout the United States and Canada announced the sale of Safeway (Albertsons Guaranty), a 44,600 s/f supermarket located in Silver Spring. The asset sold for $10.425 million.Preet Sabharwal and Michael Scali of Marcus & Millichap’s Manhattan office had the listing to market the property on behalf of the seller. Dean Zang and Joshua Ein of the firm’s Washington office p
York County, PA — Bennett Williams Commercial completed the following retail transactions in PA:
40,000 s/f retail building at Hampden Commons, 5800 Carlisle Pike, Hampden Twp., Cumberland County, PA. Ollie’s Bargain Outlet, Inc. leased the space from Voorhees Environmental Corp. Brad Rohrbaugh and Chad Stine of Bennett Williams Commercial represented the landlord in the transaction.
11,000 s/f retail building at 777 Baltimore St., Penn Twp., York County. Michael Humbert db
In today’s development market, a focus on collaboration and community is key. More modern retail centers are incorporating tenants from a variety of industries, and they are recognizing the benefits that these opportunities offer. These spaces boost tenant success by drawing a diverse crowd - attracting customers who may have otherwise not have patronized the businesses.This is perfectly exemplified in Baltimore’s Union Collective, where a variety of tenants are taking over a
Newark, DE — MSC Retail announced lease transactions between eight tenants and Allied Properties at the Christiana Fashion Center, Fashion Center Blvd., Newark. MSC Retail represented Wilmington-based property management and development company, Allied Properties, during the lease transactions. Over the past year, MSC Retail completed 38,000 s/f of lease transactions with eight tenants at the Christiana Fashion Center, including:• Jersey Mike's Subs (1,500 s/f ): New Jersey-b
Sicklerville, NJ — Richard L. Soloff of Soloff Realty & Development, Inc. (SRD) has confirmed the purchase of a 19 acre commercially zoned property by ALDI, Inc. at the intersection of Berlin, Cross Keys Rd. and Chews Landing Rd. in Sicklerville. The transaction valued at $4.5 million, is situated at a prime traffic-lit intersection in the growing Sicklerville Trade Area. The other three corners at the intersection are tenanted by a Target/Lowes anchored center, ShopRite Mark
NEPTUNE, NJ — Brad Domenico, partner at Progress Capital, secured a $2.775 million non-recourse permanent mortgage for the acquisition of the retail strip plaza located at 36 State Rte. 35 in Neptune. The subject property is a newly renovated 18,150 s/f retail shopping plaza at the former Wonderbread / Hostess Regional Bakery and Outlet. The plaza was 100% occupied and anchored by an 8,900 s/f Family Dollar at the time of acquisition. READ MORE #RealEstate #CommercialRealEsta
Bucks County, PA — NAI Mertz announced the recent land sale of 305 East Street Rd. in Feasterville-Trevose. The sale was inked by NAI Mertz vice presidents Zena Charokopos and Rick Gordon who represented the seller, Lukoil. The buyer was Republic Bank. READ MORE #RealEstate #CommercialRealEstate #MAREJournal #NAIMertz
Ambler, PA | Cary, NC — Precis Engineering, Inc., an MEP engineering firm headquartered in Ambler has hired veteran process engineer and operations excellence executive Kristina Pumphrey, PE, to manage and grow the firm’s newly created process engineering group. Pumphrey joined the leadership team in April.“Kristina is an accomplished change-agent and a strategic leader,” said Precis principal Vincent O’Brien, PE. “She has a keen eye for identifying improvement opportunities.
COLUMBIA, MD — Advantage Engineers a provider of telecommunications infrastructure deployment announced they sponsored The Wireless Infrastructure Association’s Connectivity Expo, also known as Connect (X), in Charlotte, NC.
The conference and trade show garnered industry leaders and professionals for three action-packed days of learning and networking. Attendees experienced cutting-edge discussions, workshops, and keynote speeches from leaders across multiple industries.
Manhattan, NY — According to Ceruzzi Holdings LLC, construction is underway at 147-151 East 86th St., its 18-story, 210-ft. mixed-use development in partnership with Kuafu Properties. Construction financing has been provided by TCI Fund Management Ltd. and arranged by Holliday Fenoglio Fowler, L.P. (HFF). The project, which will offer 61 condominium homes, totals 230,000 s/f – 25,000 of which will be dedicated to retail space on the ground, second and lower level of the build