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Real Estate news and current commercial property events for northern New Jersey-Tilte

Northern New Jersey Commercial Real Estate News recent headlines

Mast Construction Promotes Three to Executive Positions
Little Falls, NJ-based Mast Construction has promoted three longstanding team members at the firm to executive-level positions. Troy Marzziotti, Jim Napolitano, and Paul Skabich have all been promoted from senior project manager to project executive. In this new role, all three individuals will take on new responsibilities including client relations and holding accountability for management, staffing and profitability. "All three of these professionals...

Securitas Leases 81,000 SF in Parsippany
Securitas has leased 81,282 square feet at 9 Campus Dr. in Parsippany, NJ. The four-story building totals 156,495 square feet, and is almost 90 percent leased. The property was constructed in 1983. Securitas' lease includes space on the top three floors of the property. The space will serve as its North American Headquarters and Eastern Operations Center, and will house 225 employees, a 24/7 call center, and a full data center. Securitas will...

Bob's Furniture Leases 40,000 SF in Paramus
Bob's Discount Furniture has leased 40,000 square feet at 150 Rte 17 N. in Paramus, NJ. The two-story building, formerly home to Fortunoff, was built in 1988. Alison Horbach and Ira Kerner of Ripco Real Estate represented the owner. BKR Retail Services in Fort Lee represented the tenant.

DTZ Hires Liss to Lead East Coast Offices
DTZ has hired leasing and marketing veteran Roberta Liss away from BECO Management to become president of its east region, which includes the firm's operations in Boston, New York, New Jersey, Philadelphia, Pittsburgh, Washington, DC, Baltimore, Raleigh, Charlotte, Nashville, Atlanta and Florida. Based in the Washington, D.C. office, where she will serve as managing principal for DTZ's operations in that market, Liss will also be responsible for...

GTJ Closes on Acquisition of Six Industrial Bldgs for $63.8M
GTJ REIT, Inc., a non- traded real estate investment trust has purchased six industrial and office buildings in Piscataway, NJ for $63.77 million, or about $120 per square foot, from The Sudler Companies. The portfolio purchase consists of six buildings totaling 531,488 square feet of office, industrial and manufacturing space. The facilities are fully occupied by seven long-term tenants, including Nomura Securities and Verizon. Included in the...

NAI Hanson Names Four New SVPs
Barry J. Cohorsky , Jeffrey W. DeMagistris, Thomas A. Vetter, and Hal B. Messer of NAI James E. Hanson have all been promoted to senior vice president . Cohorsky brings more than 24 years of experience in commercial real estate and is a SIOR member. DeMagistris specializes in the Meadowlands submarket and is also a member of SIOR. Vetter, another SIOR member, has been a part of several deals. Messer holds a Master’s Degree in real estate...

Office Lease Up (Mar 23) Apple Moving to New Office Buildings at Main Street Cupertino
Apple Inc. signed a 260,000-square-foot lease at the Main Street Cupertino development in Cupertino, CA. The two office buildings currently under construction are part of a project that includes 130,000 square feet of retail space, an 120-unit apartment complex and the 180-unit Marriott Residence Hotel. Construction on the two 130,000-square-foot office buildings is slated to wrap up in May. Brandon Bain and Erik Hallgrimson of DTZ in San...

CoStar's People of Note (Mar. 15 - 21)
It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Los Angeles, Seattle, Richmond, Orange County, Philadelphia, San Antonio, New York City, San Francisco, Houston, and Denver. LOS ANGELES NAI Capital Taps Foutz as New CEO By Mary Vinal NAI Capital, Inc. has named Timothy P. Fout

Tuesday Morning Leases 15,000 SF at Paramus Place
Off-price home goods retailer Tuesday Morning has signed a lease for 15,140 square feet at the Paramus Place shopping center at 165 W. State Route 4 in Paramus, NJ. The eight-year deal will commence this fall when the retailer joins Kohl's and Modell's as anchors in 260,577-square-foot community center. It was built in 1975 on 8.2 acres in the Route 4/17 submarket of Bergen County. Jake Frantzman with Levin Management Corporation represented...

Family Owned Village Apartments Sell for $17.2M
A private family, owners and operators of the Village Apartments at 1221 Magie Ave. in Union, NJ for the past 70 years, has sold the 126-unit apartment complex to Fieldstone Properties LLC for $17.15 million, or about $136,000 per unit. The garden-style multifamily community delivered in 1945. It offers one- and two-bedroom apartments in Union County. Gebroe-Hammer Associates brokered the sale, with Gehane Triarsi representing the seller and...

Four Lease Renewals Inked at Heights Plaza
Real estate development company Alfred Sanzari Enterprises has closed four new lease renewals totaling 25,000 square feet of 4-Star office space at its Heights Plaza, located at 777 Terrace Ave in Hasbrouck Heights, NJ. The six-story, 200,000-square-foot, multi-tenant office building was constructed in 1980 on 3.2 acres in the Route 46 Cooridor submarket of Bergen County. Regional insurance broker Scirocco Ginancial Group has renewed its 15...

Langan Engineering Moving HQ to Parsippany
Langan Engineering, previously headquartered in Elmwood Park, NJ, has signed a lease for 71,536 square feet of office space at 300 Kimball Dr. in Parsippany. The building has undergone extensive re-development which has transformed the building from single tenant to multi-tenant and occupancy has increased more than 50 percent over a one-year period. New renovations to the building included stainless steel pillars, polished marble flooring, and...

Hornrock Properties Acquires Sony HQ in Sale Leaseback
Hornrock Properties acquired the office building at One Sony Dr. in Park Ridge, NJ from Sony Electronics, Inc. Sony will continue to occupy a portion of its former headquarters for an additional two years. This leaseback deal will provide Hornrock properties with a positive NOI while the firm continues to reposition the property. The 220,877-square-foot office building, located on a 37-acre campus, was constructed in 1982 and currently offers...

Stanbery Development Pays $14.1M for Intel Corp Ctr
Stanbery Development LLC acquired two office buildings at 1515 Route 10 in Parsippany, NJ from LNR Property Corporation for $14.1 million, or about $49 per square foot. The two office buildings are located close to Downtown Morristown, Morristown Airports, and the Morristown and Morris Plains Train Station, in the Intel Corporate Center. They total 288,742 square feet on 11.1 acres. Jacklene Chesler, Richard Madison, Jeffrey Oram, and Chuck...

Hartz Mountain Sells The Plaza at Harmon Meadow for $64M
The Carlton Group, in conjunction with New Valley LLC, the wholly-owned subsidiary of Vector Group Ltd. (NYSE: VGR), has acquired The Plaza at Harmon Meadow, a mixed-use development at 650 and 700 Plaza Dr. in Secaucus, NJ, from Hartz Mountain Industries, Inc. for $64 million, or about $294 per square foot. The multi-building, 217,613-square-foot retail and office portfolio was built, owned and managed by Hartz Mountain over the past four decades...

Office Lease Up (Mar 16) OnDeck Capital Expands NYC HQs Space by 80,000 SF
OnDeck Capital Inc. expanded its headquarters space at 1400 Broadway in New York City by 79,000 square feet. The small business lender will grow from 38,000 square feet to a total occupancy of 117,000 square feet in the Empire State Realty Trust-owned building. The 38-story, 908,237-square-foot, 4-Star office tower was built in 1930 in the Penn Plaza / Garment District submarket of Manhattan, at the northeast corner of W. 38th Street. Keith...

Gramercy Closes on 2.7 Million-SF Office/Industrial Portfolio for $399 Million
New York City-based REIT, Gramercy Property Trust (NYSE: GPT), earlier this week closed on a deal with Dividend Capital Diversified Property Fund to acquire a 2.7 million-square-foot office and industrial portfolio for $398.6 million, or approximately $150 per square foot. Portfolio Overview: 2100 Corporate Center Dr. - a vacant 111,053-square-foot, two-story office building constructed in 1997 within the Conejo Corporate Center in Thousand...

IDI Gazeley Selects JLL to Manage 47 Million Industrial Portfolio
IDI Gazeley Brookfield Logistics Properties, a global investor and developer of logistics warehouses and distribution parks, selected JLL to manage 47 million square feet of industrial real estate in the U.S. The assignment is the firm's largest and encompasses Atlanta, Southern Florida, Cincinnati, Memphis, Chicago, New Jersey, central Pennsylvania, Southern California and the Texas markets. "Industrial properties are increasingly being targeted...

LB Commercial Realty News & Articles


    LB Commercial Moves to a larger facility: Read more about LB Commercial real estate recent relocation to a larger facility located in Closter, NJ.

    Press Release June 2008: This release is information about how LB Commercial was named exclusive leasing brokers of Rockleigh
    Corporate Center, one of the most prestigious towns of New Jersey.

    NJBIZ Top 50 NJ 2006: New Jersey's top real estate brokerage companies in 2006.

    LB Newsletter 2006-2007: This newsletter published in 2006,  pertains to the approach LB Commercial will take for the future of New Jersey's real estate market.

    Top 50 Commercial Award: NJ Biz magazine announces LB Commercial Real Estate as a top Commercial Real Estate brokerage company in 2006

    Industrial Real Estate: Press release from The Record  published in 2007 pertaining to the industrial real estate reversing the 2nd quarter slide.

    Bergen Record Article Jan 2008: Press release from The Record  published in 2008 covering the history and recent achievements of LB Commercial Real Estate.

    Bergen Record Article:  Press release from The Record  published in 2007 reviewing the history and an in depth perspective of of LB Commercial Real Estate.

    5 Reasons The Economy Might Recover Faster Than You Think - MSN Money - Article pertaining to how the financial outlook of 2009 might improve faster than elected officials proclaim.

    Repex Investments December 2008 Report: Information regarding weekly Dow Jones, NYSE  and Standard and Poor 500 index reports for December 29, 2008.



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