Northern New Jersey Commercial Real Estate News recent headlinesReverse Mortgage Takes New HQs Space in Bloomfield
Reverse Mortgage Investment Trust Inc. signed a long-term lease for new headquarters at 1455 Broad St. in Bloomfield, NJ. The reverse mortgage provider will take 16,606 square feet on the second floor of the four-story, 94,960-square-foot office building
The property is one of four buildings at BroadAcres Office Park, owned by BR/Prism Central Park Owner LLC and operated by Prism Capital Partners LLC, which recently completed a major capital improvement...CoStar's People of Note (Sept. 14 - 20)
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: Northern New Jersey, Los Angeles, Seattle, Long Island, New York City, Westchester / Southern Connecticut, Houston, South Florida, Orlando, and Tampa / St. Petersburg.
NORTHERN NEW JERSEY
Sabre Group Rolls Out Expansion into NJ
By Amy Shaw
office building at 300 Lightin Way in Secaucus, NJ from Hartz Mountain Industries, Inc.
The 303,000-square-foot, 4-Star office building delivered in 1988 on three acres in the Meadowlands submarket, part of the Mill Creek Mall at Harmon Meadow, about five miles from New York City. The asset was 50 percent occupied at the time of sale.
Rugby will...Cushman & Wakefield Arranges $20.7M Recapitalization in Matawan
Cushman & Wakefield arranged a $20.7 million recapitalization on behalf of Denholtz Associates. The deal required obtaining a joint venture equity from Palatine Capital Partners.
Metro Park South, located at 100 Matawan Rd. in Matawan, NJ, is a 130,000-square-foot office building
. Amenities for the building include onsite management, an executive parking garage, spacious atriums and lobbies, and natural landscaping.
John Alascio, Chris Moyer...Pashman Stein PC Renews, Expands at Court Plaza South
Pashman Stein P.C. renewed and expanded its lease deal, taking a total of 24,400 square feet in the Court Plaza South office building
at 21 Main St. in Hackensack, NJ.
The three-story building totals 155,000 square feet in the Court Plaza office complex. This new office space
allows for the recent growth of the law firm and its future success.
David Simson and Hope Brodsky of Newmark Grubb Knight Frank represented the tenant. Jerry Barta at...Sabre Group Rolls Out Expansion into NJ
The New York-based Sabre Real Estate Group LLC has expanded its business and is opening a new office at 30 Journal Square in Jersey City. Sabre Group’s growth will be facilitated by new hire James Aug.
Aug, who has real estate in his blood, grew up watching his father Charles found Garrett-Aug Store Leasing Associates, the area’s first firm to specialize in retail real estate. Fast forward to present day and the younger Aug has nearly 30 years...Simon Spin-Off Washington Prime Buying Glimcher Realty Trust in $4.3B Deal
Washington Prime Group (NYSE:WPG), a retail REIT formed earlier this year as a shopping center spin-off from mall giant Simon Property Group (NYSE: SPG), agreed to acquire mall owner Glimcher Realty Trust (NYSE: GRT) in a deal valued at approximately $4.3 billion, including debt assumption.
The combination will consolidate ownership of 68 million square feet of retail space
in a combined portfolio of 119 properties.
Although Washington Prime...Adhisa USA Bldg Sells for $3.7M
RIA Holdings LLC acquired the industrial building at 11 Patton Dr. in West Caldwell, NJ from Adhisa for approximately $3.68 million, or $85 per square foot, in an all-cash transaction.
The warehouse totals 43,258 square feet on 2.5 acres in the Fairfield Market Industrial submarket of Essex County. It was formerly occupied by Adhisa USA, a distribution company headquartered in West Caldwell. The new owners plan to occupy the property for one...Law Firm Pays $59 PSF for Archive Space
The law firm of McElroy Deutsch Mulvaney & Carpenter LLP acquired the office building
at 170 Mount Airy Rd. in Basking Ridge, NJ from Hooper Holmes Corporation, a national health risk assessment provider, for $3.05 million, or about $59 per square foot.
Built in 1970 on 8.4 acres, the 52,068-square-foot office building is located in the Route 78 East submarket of Somerset County. The two-story building is surrounded by nearly 200 parking spaces...Market Trend: Select Top Five Northern New Jersey Industrial Leases Signed in Q2 2014
The select top industrial lease signed during the second quarter of 2014 in the Northern New Jersey market was at Alovats North in the Exit 8A Industrial submarket. OHL leased 611,320 square feet there, represented by ProVenture. Cushman & Wakefield of New Jersey represented the landlord.
Ferguson Enterprises, Inc. leased 450,318 square feet at 100 Meadowlands Pky in the Secaucus / North Bergen Industrial submarket. Hartz Mountain Industries...Reiner Joins Levin Management
David Reiner has joined Levin Management as a vice president of leasing. In his new role, Reiner will oversee leasing activity and staff at Levin Management, which is based in North Plainfield.
Reiner was previously the director of real estate for Body Central Stores. In his 25 years of commercial real estate
experience, Reiner has negotiated deals on behalf of both tenants and landlords, particularly in retail transactions. He has previously...NorthMarq Arranges $192M Loan for URL Harborside 1
NorthMarq Capital's New Jersey office negotiated a $192 million construction to permanent loan for URL Harborside 1, being developed by Harborside Unit A Urban Renewal LLC - a joint venture between Mack-Cali Realty LP and Ironstate Holdings LLC.
Gary Cohen, senior vice president and senior director with NorthMarq arranged the financing for the borrower. Pacific Life provided the loan with an attractive 15-year fixed rate and seven years of interest...
LB Commercial Realty News & Articles
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.
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
Real Estate: Press release from The Record published in 2007
pertaining to the industrial real estate reversing the 2nd quarter slide.
Record Article Jan 2008: Press release from The Record
published in 2008 covering the history and recent achievements of LB Commercial
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.