Moonachie, NJ — Team Resources announced that Joe Manganaro, COO, and Eric Lewin, Sr. executive VP brokered a lease of 95,500 + s/f at 65 Oxford Dr. in Moonachie, NJ with Fashion Logistics, an organization specializing in logistic services for the fashion and lifestyle industry in the U.S. “With a corporate office in Hasbrouck Heights and additional warehouses in the nearby Meadowlands area, the proximity to Fashion Logistics’ other facilities made 65 Oxford a great option. A
PLAINFIELD, NJ — In the city-on-the-rise of Plainfield, Gebroe-Hammer Associates has arranged two separate multifamily transactions totaling 97 units that sold for a combined $15.23M. The sales of Stoney Brook Gardens at 643-715 E. Front St., and Executive Arms Apartments at 309-315 W. 8th St., were spearheaded by executive vice president Stephen Tragash, a Union County market specialist.“Plainfield has launched an aggressive redevelopment plan focusing on leveraging the medi
SPARTA, NJ — American Architectural Window and Door, a leading provider and installer of exterior building facades components- windows, doors, curtain wall, metal panels, and other exterior components in large multi-family residential and commercial projects, announced that it was ranked #29 in NJBIZ’s Fast 50. In the ceremony held November 14, 2019 at The Palace in Somerset, the 2019 awards recognized companies contributing to the success of the state’s economic growth and s
NEW YORK AND NEW JERSEY — John Azarian, CEO of The Azarian Group L.L.C. and Christopher Kaufman, director of Leasing of Azarian Realty Co., are pleased to announce that The Azarian Group’s portfolio’s occupancy has soared to historic levels. The Azarian Group has signed over seven new leases in recent months. The Azarian Group was founded in 1970 and its portfolio includes 19 commercial properties with more than 350 tenants throughout NY and NJ.
The Shoppes at North Brunswic
While commercial real estate lease transactions and sales normally allocate responsibility for property taxes, there are several key issues for the taxpayers to evaluate before signing a lease or closing title. These five tips can help avoid excessive taxation or minimize the chances of a property tax surprise before it’s too late.
Check the “Equalization Ratio”: New Jersey municipalities use an equalization ratio to translate property tax assessment to market value, thereby
Local consulting firm, Van Note-Harvey Associates, Inc., is celebrating its 125-year anniversary in 2019. The firm enjoys a long history of providing professional engineering, environmental and surveying services to the regions surrounding its Princeton and Cape May Court House offices, assisting in engineering design and development for several municipalities and countless public and private clients.
The firm traces its origins back to Charles Silas Sincerbeaux, a Princeton
NEW JERSEY — Gary Krauss of Pierson Commercial Real Estate represents tenant in the following leases:
Leased 1,402 s/f of space for Jersey Mike’s Subs in Washington Bridge Plaza, Fort Lee. The landlord was AAC Fort Lee Plaza LLC, represented by Jason Gerbsman, of Hudson RE, LLC.
Leased 1,423 s/f of space for Jersey Mike’s Subs in Mansfield Commons Shopping Center, Hackettstown. The landlord was National Realty and Development Corp., represented by Dovid Spector.
NEW JERSEY — Charter Realty & Development announced that Scott Edlitz, on behalf of LabCorp, has secured two retail leases in New Jersey.
A 2,395 s/f lease was signed in Hackensack at Summitt Plaza, a 100,000 s/f retail complex located at the intersection of Rte. 17, Summit Avenue and West Pleasantview Ave. It is anchored by a 62,000 s/f Shop and Shop and owned by Sanzari 89’ Associates, L.P. by Alfred Sanzari Enterprises. In addition, a 1,447 s/f lease was secured at 463
As most know, we are currently in one of the longest economic expansions in history. In 2019, we expect to see capital continue to chase deals, making pricing more competitive for the good deals. I see a lot of the money entering the market looking for a very similar product multifamily cash flowing. In response to much of the capital markets chasing those deals, Procida Funding is focused on deals which seem to be forgotten. Going into 2019, we are looking for owner-occupied
It can be hard to shake the feeling that Real Estate is old news.
Fund managers complaining about shrinking cap rates and margins. Dollars shifting into more hyped and exotic assets. A house flipper on every block. Nearly identical pitches from nearly identical firms beginning to run together.
True, the days of buy, hold, and become fabulously wealthy are probably gone. As the value and stability of real estate is more recognized by the market at large, there’s simply more
Six years ago, many communities in New Jersey were devastated by Hurricane Sandy. October 29, 2012 will live in the minds and hearts of New Jersians forever. Some remembering it for the tragic loss of property that was experienced and others for the extraordinary acts of kindness and heroism they were part of or witnessed.
Either way the facts are the facts; Sandy, the most intense storm of that year made land fall in New Jersey on October 29th causing unimaginable damages.
NEW JERSEY — The Mainardi Management Co. announced several lease signings at properties managed by it and the closing of two loans by affiliates of the company.
At the Allaire Plaza in Wall Twp., TJX recently signed a 10-year lease for a 22,725 s/f store. The store will be operated as a TJ Maxx. ULTA Beauty and Cosmetics likewise signed a 10-year lease, this store being 11,240 s/f in size while A.C. Moore leased 14,710 s/f, also for 10 years. The three stores were created o
Bestwork Industries for the Blind, a not-for-profit manufacturing corporation that provides employment opportunities to people who are blind or visually impaired, turned to Hutchinson, a participating contractor for Direct Install – offered through the NJ Office of Clean Energy - for its energy saving needs.
Established in 1981, Bestwork has manufactured items including military, traffic safety and construction clothing. As the unemployment rate for people who are blind is
ENGLEWOOD CLIFFS, NJ — A property that sat empty for a decade in one of New York City’s hottest neighborhoods will now become housing. Kennedy Funding Financial, the Englewood Cliffs-based direct private lender, closed a $2 million loan to LZBC Next Level Realty, LLC. The borrower will use proceeds from the loan to fund the construction of an eight-unit, four-story walk-up building at 100 Scholes St., a 2,500 s/f property in the Williamsburg neighborhood of Brooklyn, NY. “Hou
EGG HARBOR TOWNSHIP, NJ — D2 Capital Advisors, the transaction advisory affiliate of the D2 Organization, has successfully arranged $34.7 million in construction financing on behalf of Peter Gebert, president of Franklin Realty Development, to begin the ground-up construction of the Harbor Landing apartments in Egg Harbor Township. The financing was provided by a regional bank and an unnamed equity source.
The class-A multifamily development will consist of 204 luxury unit
SOUTH PLANFIELD, NJ — Bussel Realty Corp. (BRC) arranged the sale of 121 Corporate Blvd. in South Plainfield, a 36,000 s/f industrial building, for an undisclosed amount. Herb Zimmerman, senior vice president of BRC, represented the buyer, Touch Dynamic. The seller, Adler Development, was represented in-house. “Touch Dynamic will utilize the facility for the manufacturing, servicing, testing, shipping and distribution of its various products,” said Zimmerman. “The property’s
MORRISTOWN, NJ — United Way of Northern New Jersey awarded its 2018 Impact Award to Ironside Newark on Friday, recognizing the building’s redevelopment as the commercial real estate project with the greatest positive impact on the northern New Jersey region this year. The award was announced during the 19th annual United Way Commercial Real Estate Network Legacy Luncheon, a fundraiser attended by a sold-out crowd of leading commercial real estate industry professionals with k
HACKENSACK, NJ —The DMR Architects-designed Hackensack Performing Arts Center recently receive the 2018 Bergen County Historic Preservation Award for its adaptive reuse of the former Masonic Temple at 102 State Street.Bergen County executive James Tedesco, III and the Board of Chosen Freeholders presented the award at 7 p.m. during the public program at the auditorium of the new Bergen County Administration Building at Two Bergen County Plaza.The purchase and rehabilitation o
Little Falls, NJ — Howard Applebaum, president of Corporate America Realty & Advisors (New Jersey’s Industrial Real Estate brokerage company that specializes in only representing tenants, buyers and investors of industrial real estate) recently represented H.C. International, Inc., one of Country’s leading manufacturers and importers of curtains and draperies in the signing of a new lease at 37 Montclair Avenue, Little Falls. The tenant occupies 37,000 s/f and is using this f
MORRIS TWP., NJ — JMF Properties has been designated the redeveloper of the former Colgate-Palmolive industrial campus on East Hanover Ave. straddling Morris Twp. and Morristown.Both residential and retail uses are planned for the 64-acre site, including a 150,000 s/f shopping center, 143 townhomes, and 60 rental units. JMF acquired the property from Colgate-Palmolive and submitted a redevelopment proposal to municipal officials. The company has been granted final site approv