NEWS

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A private investor has purchased a 20,000-square-foot industrial building in Clifton, in a newly announced deal by Lee & Associates New Jersey. Josh Krantz, a senior vice president with the brokerage firm, represented Kessler-Schwartz Associates in its disposition of the property at 25 Styertowne Road, which is fully leased to Pereg Gourmet. The trade comes after he recently represented the seller, a multigeneration, multifamily ownership entity based in Wyckoff, in the sale of nearby buildings…

Lee & Associates New Jersey arranged two industrial transactions in Middlesex County, reflecting sustained dealmaking velocity in the regional marketplace, according to a Tuesday announcement. In Piscataway, BlackRock Realty Advisors acquired 330 S. Randolphville Road for $80 million. In South Plainfield, a logistics firm signed a 189,000-square-foot, full-building lease at 602 New Market Ave. Matthew Schnurr of the commercial real estate firm’s Capital Markets team represented BlackRock in its investment acquisition. The nearly 300,000-square-foot South Randolphville Road complex…

A former school building in Jamesburg that now houses more than 26,000 square feet of office space has traded for $4.4 million, in a deal arranged by Lee & Associates New Jersey. According to the firm, an undisclosed nonprofit purchased what’s known as Forsgate Commons at 241 Forsgate Drive. Lee & Associates New Jersey’s Beth Chezmar represented the seller of the 26,295-square-foot property, while Dan De Palma of North American Realty represented the purchaser. “The…

A new restaurant has opened its doors in Fairview after taking more than 1,700 square feet at a neighborhood shopping center, in a deal arranged by Lee & Associates New Jersey. The business, El Primo Mexican Restaurant, occupies space at 175 Broad Ave. under a lease with Vail Development LLC. Lee & Associates’ Josh Krantz represented both parties in the long-term, 1,737-square-foot lease, which brings the roughly 15,000-square-foot Valley Plaza Shopping Center to 100 percent…

Lee & Associates New Jersey has promoted two industrial brokers to the role of assistant vice president, the Elmwood Park-based firm announced Tuesday. In a news release, the company said Joseph Komitor and William Ziegler joined its team in 2021 and 2019, respectively. Both started as associates in the industrial brokerage division and are among several recent personnel moves by the firm, as it continues to expand in the state. “Rewarding outstanding performance is critical to…

A veteran broker with Lee & Associates New Jersey is now a partner after earning his fourth promotion since 2016, when he joined the Elmwood Park-based team as an associate. In a news release, the firm said Troy Wisse specializes in property sales from the state’s port submarket to the Meadowlands. As a partner, he will help nurture new talent while enjoying an advanced split structure, participation in profit sharing and influence in company decision…

Jason Lynch Founding principal Lee & Associates – New Jersey In his 30-plus years of commercial real estate experience, Lynch has represented the interests of landlords, developers, lenders, investors and tenants in New Jersey and the tri-state area, participating in deals that total more than $200 million of real estate transaction value. MEDIA: By: ROI-NJ Staff ROI-NJ

Terreno Realty Corp. has sold an 86,000-square-foot industrial building in the Somerset section of Franklin for $25 million, nearly tripling the price it paid for the property in 2016. The fully leased building, 70 Schoolhouse Road, sits on 6.9 acres less than three miles from Interstate 287. The deal follows Terreno’s purchase of the building in September 2016 for $9.1 million, the Bellevue, Washington-based firm said, noting that its investment generated an unleveraged internal rate…