Leasing

LIVINGSTON, NJ—The law firm of Morgan Melhuish Abrutyn has expanded its leased space at 651 Old Mount Pleasant Ave in the Eastman Office Center in Livingston, NJ, to occupy approximately 18,600 square feet on the second floor of the 52,000-square-foot building. MMA is the largest and longest standing tenant of the building, occupying space there since 1982, when the building was originally constructed. MMA was represented by Marc J. Trevisan, executive managing director, and Slava Vaynberg, director, Cushman & Wakefield. Owner Eastman Companies was represented in-house by Eric Maurer, director of leasing. MMA's premises is undergoing a complete renovation including a brand new conference center, board room, and reception area. Additionally, as part of the transaction, the building is undergoing a significant capital improvement program including a new cafe, new conference center, and upgraded lobbies.

HACKENSACK, NJ—Four retail tenants have renewed leases totaling 10,250 square feet at Summit Plaza in Hackensack, NJ. The 100,000-square-foot supermarket-anchored neighborhood shopping center is owned and managed by Alfred Sanzari Enterprises. The transactions – negotiated in-house by Jerry L. Barta, vice-president/director of leasing and marketing – include: Cosmetics, health and beauty retailer Harmon Face Values renewed its lease for 6,100 square feet; Wize Guys Pizzeria & Restaurant renewed its lease for 1,600 square feet; Fresh as a Daisy, a dry cleaner, renewed its lease for 1,450 square feet, and The UPS Store, a retail shipping, postal, printing and business service center, renewed its lease for 1,100 square feet.

PHILADELPHIA, PA—Bankruptcy law firm Weltman, Weinberg & Reis has joined The Curtis's office community. WWR will relocate its operation from 325 Chestnut Street to a 3,500-square-foot suite at The Curtis. Colliers International represented the landlord, Keystone Property Group, in this transaction. WWR provides full service bankruptcy, consumer and commercial collection, compliance, litigation and real estate default services. The firm has nine offices throughout Pennsylvania, Ohio, Illinois, Michigan and Florida.

Exclusive Agencies

BRIDGEWATER, NJ—The Garibaldi Group/CORFAC International has been awarded the assignment to sublease 300 Somerset Corporate Boulevard, one of five class-A buildings in the Somerset Corporate Center Campus in Bridgewater, NJ. The eight-story building has 310,000 total square feet of office space, with an average floor plate of 38,750 square feet. Somerset Corporate Center Campus consists of five, eight-story buildings totaling 1.3 million square feet within a 15-acre park.

Here is a roundup of middle-market transactions and other market activity in the past several weeks in New Jersey and Pennsylvania.

Sales

OAKLAND, NJ—A 20,396-square-foot office/flex property located at 99 Bauer Drive in Oakland, NJ, has traded hands for an undisclosed amount. As of April 2016, the building was reportedly owned by the Kushner Companies, according to Real Capital Analytics, a proprietary research database. NAI Hanson's Arthur Hixson, Andrew Kirshenbaum, and Barry Mayer negotiated the sale. The buyer's name could not be determined. The building, located in northern Bergen County, is occupied by RCM Technologies and Zak Events.

CHERRY HILL, NJ— The Guidance Center of Camden County has sold 499 Cooper Landing Road, Cherry Hill, NJ, a 12,000 square-foot office center, to 409 ROPA Realty for $1.6 million. Kevin Burns of Markeim Chalmers represented the seller. The building, located directly across from Kennedy Hospital in Cherry Hill, will be converted into a state-of-the-art medical office space convenient to the hospital and its million-dollar renovation.

Leasing

LIVINGSTON, NJ—The law firm of Morgan Melhuish Abrutyn has expanded its leased space at 651 Old Mount Pleasant Ave in the Eastman Office Center in Livingston, NJ, to occupy approximately 18,600 square feet on the second floor of the 52,000-square-foot building. MMA is the largest and longest standing tenant of the building, occupying space there since 1982, when the building was originally constructed. MMA was represented by Marc J. Trevisan, executive managing director, and Slava Vaynberg, director, Cushman & Wakefield. Owner Eastman Companies was represented in-house by Eric Maurer, director of leasing. MMA's premises is undergoing a complete renovation including a brand new conference center, board room, and reception area. Additionally, as part of the transaction, the building is undergoing a significant capital improvement program including a new cafe, new conference center, and upgraded lobbies.

HACKENSACK, NJ—Four retail tenants have renewed leases totaling 10,250 square feet at Summit Plaza in Hackensack, NJ. The 100,000-square-foot supermarket-anchored neighborhood shopping center is owned and managed by Alfred Sanzari Enterprises. The transactions – negotiated in-house by Jerry L. Barta, vice-president/director of leasing and marketing – include: Cosmetics, health and beauty retailer Harmon Face Values renewed its lease for 6,100 square feet; Wize Guys Pizzeria & Restaurant renewed its lease for 1,600 square feet; Fresh as a Daisy, a dry cleaner, renewed its lease for 1,450 square feet, and The UPS Store, a retail shipping, postal, printing and business service center, renewed its lease for 1,100 square feet.

PHILADELPHIA, PA—Bankruptcy law firm Weltman, Weinberg & Reis has joined The Curtis's office community. WWR will relocate its operation from 325 Chestnut Street to a 3,500-square-foot suite at The Curtis. Colliers International represented the landlord, Keystone Property Group, in this transaction. WWR provides full service bankruptcy, consumer and commercial collection, compliance, litigation and real estate default services. The firm has nine offices throughout Pennsylvania, Ohio, Illinois, Michigan and Florida.

Exclusive Agencies

BRIDGEWATER, NJ—The Garibaldi Group/CORFAC International has been awarded the assignment to sublease 300 Somerset Corporate Boulevard, one of five class-A buildings in the Somerset Corporate Center Campus in Bridgewater, NJ. The eight-story building has 310,000 total square feet of office space, with an average floor plate of 38,750 square feet. Somerset Corporate Center Campus consists of five, eight-story buildings totaling 1.3 million square feet within a 15-acre park.