Cushman & Wakefield arranged the deal involving the 195-unit community, which offers independent and assisted living options in addition to memory care considerations.
The site was home to Ford Fabrications, founded by its namesake and the former owner of the property, who provided welding and other services there for 40 years.
John Obeid joins Cushman & Wakefield as senior research manager, based in the real estate services firm's East Rutherford office.
“The New York and New Jersey Port market has the lowest vacancy rates and one of the strongest year-over-year rent growth stories,” said JLL Capital Markets Managing Director Marc Duval in a statement. “It’s evident ... investors are chasing port locations and growth fundamentals. Due to transportation costs rising and the flight to core locations becoming more of a focus, investor demand [...]
Lee & Associates New Jersey represented the buyer and the seller in the deal that will transform a site currently housing a dry cleaner.
NAI James E. Hanson's Team Lizzack-Horning negotiated leases for the complex along Prince Rodgers Avenue that add up to a cumulative 2,144 square feet.
Levin Management Corp. announced the national retailer will open its doors at the North Village Shopping Center on Route 1 in North Brunswick.
The firm worked on behalf of the borrower to secure a seven-year, floating-rate loan through PGIM Real Estate.
Marcus & Millichap arranged the sale of the building, which had been owned and operated by the same investor for 40 years.
JLL was tapped to lease the new site, which includes a PILOT agreement and is situated on a 47-acre tract earmarked for redevelopment by Mansfield Township to help create jobs and foster economic growth.
President David Zimmel was hired two decades ago to handle the newly built Aberdeen property. Now, after keeping the space leased throughout that time, the firm announced the sale of the site.
The firm said it arranged the sale of the CVS-occupied property for $10.9 million.