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Real Estate

HFF closes 24.25M Newark multi-housing sale

According to the announcement, the Mount Prospect Towers property includes 219 units. HFF represented the sellers, Praedium Group and KABR Group. Azure Partners purchased the asset located at 380 and 420 Mount Prospect Avenue in the Forest Hill section of Newark for $24.25 million. The 96 percent leased property is comprised of studio, one-, two- ...

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G.S. Wilcox Co. office closes 46.7M in financing

Two loans totaling $7 million were made with Thrivent Financial for Lutherans benefiting Hartz Mountain and Marcus Associates. The loans were for a 30,771 square-foot data center located in Secaucus, as well as a 13,100 square-foot mixed use building located in Teterboro, the announcement said. According to the announcement:– A non-recourse construction loan was arranged ...

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Forbes bringing 350 jobs to Jersey City

“The Forbes announcement bringing 350 jobs to our city on the very same day we broke ground for the tallest residential tower in the history of New Jersey speaks to the great things happening in Jersey City and helps toward our goal to lead the state in private and construction job creation,” Mayor Steven Fulop ...

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Pfizer sells office campus at Madison’s Giralda Farms

The 463,000-square-foot property at 5 Giralda Farms was acquired by Lincoln Equities Group and a group of private investors led by Lakestar Properties, according to brokerage firm Jones Lang LaSalle. The real estate firm, which represented Pfizer, also arranged nearly $70 million in financing for the buyers from NorthStar Realty Finance. Exact terms of the ...

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NorthMarq Capital’s N.J. office arranges two financings totaling 6.25M

According to the announcement, Gary Cohen, senior vice president and senior director of NorthMarq’s New Jersey regional office, financed the sales of the Hampshire Self Storage Portfolio and two Hoboken-based multifamily properties. The Hampshire property contains two facilities located in Cherry Hill and Burlington with a combined total of 109,995 square-feet. The $3.5 million financing ...

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Marcus Millichap arrange 2.6M sale of Chase Bank Ground Lease

According to the announcement, Michael Lombardi, senior associate director of the Net Leased Property Group in Marcus & Millichap represented the seller. Lombardi also secured and represented the buyer, a private investor. The absolute NNN leased bank branch sold at a 5 percent cap rate. Stay informed: Subscribe to free NJBIZ newsletters Follow @NJBIZ   ...

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Advance Realty moving ahead with mixed-use project in Harrison

The Bridgewater-based developer announced Monday it has site-plan approval for the project, which calls for 345 luxury apartments and 18,000 square feet of retail space. Construction is expected to begin in the second quarter. The project will be the next piece of the Advance’s Riverbend District, a parcel that sits within Harrison’s 250-acre redevelopment area. ...

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Hartz Mountain Industries names new EVP, general counsel

According to the announcement, Patton will succeed the firm’s long-time general counsel, Irwin Horowitz, who will remain with the firm as an executive vice president and counsel emeritus. Patton joined Hartz’s legal department in 1987 after working with Horowitz at the Newark-based law firm of Horowitz, Bross, Sinins & Imperial. Since 1987, Horowitz has been ...

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Fort Monmouth Creating a big space for big data

Plans for the headquarters — now in its first phase of construction — have buoyed efforts to redevelop other parts of the 1,100-acre property. And experts say landing the fast-growing data management company as an anchor tenant has raised the fort’s profile as a potential hub for the technology industry. “It’s excellent to have a ...

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Avison Young named exclusive leasing agent at Bridgewater Crossing

According to the announcement, the buildings are owned by Piedmont Office Realty Trust, one of the top five office real estate investment trusts in the U.S. Bridgewater Crossing is comprised of two mirror-image office buildings located at 200 and 400 Crossing Blvd., within the master-planned, mixed-use Bridgewater Commons commercial complex. Avison Young Principal William E. ...

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3 ADP Blvd.

Dish Network moving 350 jobs to Roseland

The Englewood, Colo.-based company has signed a 10-year deal for the space at 3 ADP Blvd., a 75,000-square-foot building off I-280, according to a press release from the joint venture. The tenant is relocating from elsewhere in the state and was expected to move more than 350 customer service and sales positions early this month. ...

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