NORTHVALE, NJ—A private investment group led by Duvi and Tuli Blumenberg has acquired 207,193 square feet of industrial space on 16.3 acres at 251 Union St. from Pantheon Properties for $12.1 million, in a deal brokered by Cushman & Wakefield's Metropolitan Area Capital Markets Group.
Meanwhile, in Flanders, NJ, NAI James E. Hanson brokered the sale of a 157,822-square-foot industrial building at 700 Bartley Chester Road. NAI Hanson's John Schilp represented the seller, 700 Bartley Chester Road LLC and Josh Levering, SIOR, represented the buyer, CRG 700 LLC, in the transaction. Schilp sold the land to build 700 Bartley Chester to the original owner in 1988.
“The Northern Bergen County industrial market is very desirable but also land-constrained. It is one of the strongest industrial markets in the country,” Cushman & Wakefield director Andrew Schwartz says. Cushman & Wakefield served as exclusive agent for the owner. Schwartz led the team of Andrew Merin, David Bernhaut, Gary Gabriel, Ryan Larkin, all from the East Rutherford, NJ-based Metropolitan Area Capital Markets Group, as well as Andrew Siemsen from the Iselin office.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
