A transportation company has expanded its footprint with a new 72,000-square-foot industrial lease in North Bergen, in a deal arranged by Lee & Associates New Jersey. According to the real estate services firm, the space at 5901 Tonnelle Ave. will serve as a van depot for First Transit, allowing it to serve all of Bergen County and parts of Passaic County. Lee & Associates New Jersey’s Scott Deutchman represented the tenant in the lease with…
NAIOP NJ Honors Volunteers at 2022 President’s Awards
Eight NAIOP New Jersey members were recently honored for their outstanding leadership, advocacy and career accomplishments at the chapter’s Annual President’s Awards and Hall of Fame Dinner. The 2022 nominees to the commercial real estate development association’s Hall of Fame were also inducted during the event, which was held at the Hilton Meadowlands. “For me, it is an honor to recognize our members who exemplify leadership and service to the New Jersey Chapter,” said the…
Woodmont acquires 30,000 sq. ft. Lyndhurst industrial building
Woodmont Industrial Partners has added to its holdings with the purchase of a 30,000-square-foot warehouse and distribution facility in Lyndhurst. The firm on Tuesday said the property, 2 Terminal Road, is available for lease. The Woodmont Properties affiliate acquired the building from an undisclosed seller, touting its location near routes 3 and 17 and features such as 18-foot ceiling heights, two loading docks and two drive-in doors. Michel Schaible and Troy Wisse of Lee &…
NAIOP New Jersey details slate for annual President’s Awards, Hall of Fame Dinner
Eight key players in the state’s commercial real estate sector will take the stage in early November as part of NAIOP New Jersey’s annual President’s Awards and Hall of Fame Dinner. The organization last week announced its slate of honorees for the popular program, scheduled for Nov. 7 at the Hilton Meadowlands in East Rutherford. They include: Legacy Award: Geoffrey L. Schubert, partner, Lee & Associates New Jersey Pillar Award: Jesse Harty, senior vice president,…
Lee & Associates: Buyer sought for new-look, 34,000 sq. ft. school building in Newark
A renovated school property in Newark is on the market for sale, in a newly announced offering by Lee & Associates New Jersey. Located in the city’s University Heights section, at 66-78 Morris Ave., the four-story property is a former charter school spanning roughly 34,000 square feet. The space contains 18 classrooms, a 5,200-square-foot gym, a 2,744-square-foot cafeteria, office and administrative space and a partial basement. Jerry Joseph, Tarang Ramani, Beth Chezmar and Jason Lynch…
Lee & Associates helps glass distributor ink 28,700 sq. ft. industrial lease in Clifton
Commercial glass distributor H Global Commerce Inc. this month leased 28,700 square feet of warehouse space at 31 Styertowne Road in Clifton, Lee & Associates New Jersey announced Thursday. The commercial real estate services firm’s Josh Krantz, Michael Schaible and Troy Wisse represented property owner Longpoint Realty Partners in the transaction. David Simon of Prominent Properties served as tenant broker. The property at 31 Styertowne Road sits 12 miles west of Manhattan. “Interest in this opportunity not only reflects sustained velocity for industrial…
KS Group buys 9,000 sq. ft. office building in home city of Newark, brokers say
A locally based developer has purchased a 9,000-square-foot office building in Newark, according to a brokerage team with Lee & Associates New Jersey. The buyer, KS Group, paid an undisclosed sum for the two-story property at 260 Broadway. Brokers noted that the building is minutes from the downtown and several nearby highways, while touting its investment potential due to its location within a federal Opportunity Zone. Lee & Associates assistant vice presidents Jerry Joseph and…
Marcus Partners adds Middlesex industrial property for $37 million, Lee & Associates says
A private owner has sold a two-building, 200,000-square-foot industrial property in Middlesex County, brokers with Lee & Associates New Jersey announced Wednesday. The buyer, Boston-based Marcus Partners, paid $36.5 million for the multitenant complex at 18-20 Harmrich Road in South Plainfield, according to a news release. The off-market deal provides another addition to the firm’s fast-growing portfolio in New Jersey, with a location that is minutes from Interstate 287 and other highways in the area….
Thor acquires 330,000 sq. ft. Passaic warehouse for $52 million
Thor Equities Group has acquired a fully leased, 330,000-square-foot industrial building in Passaic for $52 million, as it touts continued investment in the asset class and the region. The New York-based firm said the property, 153 Linden St., sits on 10.7 acres less than five minutes from Route 21 and 13 miles north of Newark Liberty International Airport. It completed the deal with an undisclosed seller, noting it has acquired three industrial buildings in northern…