WESTWOOD, NJ-The Kislak Co. has sold five apartment, mixed-use and office buildings here for $5.8 million on behalf of a private seller. The purchaser, too, is a private investor, represented by Kislak.

The sale included Linda Court, a nine-unit apartment property on Elm Street; James Court, a seven-unit multifamily asset on Fairview Avenue; Stratford Apartments, a four-unit apartment building with one commercial space on Third Avenue; and Sturbridge Commons, a 12,630-square-foot office building, and Plaza One, a 7,832-square-foot office asset, both on Kinderkamack Road. The properties were among a larger portfolio of Westwood assets built by the seller in the 1970s and 1980s that had never before been available for sale.

“This transaction illustrates the continued strength of investment properties in northern New Jersey, especially for multifamily properties in A-plus communities like Westwood,” says Matt Weilheimer, a vice president at Woodbridge, NJ-based Kislak. “We generated a great deal of interest in the properties and ultimately procured a single purchaser for them.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.