RADNOR, PA—CBRE announced the opening of a new, state-of-the-art office in Radnor, Pennsylvania. The 25,735-square-foot office, at 555 E. Lancaster Avenue, is part of CBRE's global “Workplace360” initiative, the company's approach to workplace strategy designed to promote flexibility, mobility and productivity through technology-enabled, 100 percent free-address and paperless offices. The new office will house approximately 130 employees, all of whom have relocated from the company's former location in Wayne, PA.

DUNMORE, PA—Jones Lang LaSalle arranged the sale of Key Market Distribution Center, a two-building industrial portfolio totaling 445,751 square feet located at 1026-28 Reeves Street in Dunmore, PA. An affiliate of Equilibrium Equities, located in Blue Bell and represented by JLL, sold the property to The Silverman Group for $14.3 million. Executive vice president John Plower led the transaction along with managing director James Galbally, senior vice president Brett Grifo, executive vice president Chad Orcutt and vice president Jeff Lockard. Upon closing, the property was fully leased to a variety of tenants across multiple business segments. Encompassing 445,751 square feet in two-buildings on 21.1 acres, Key Market features unit sizes ranging from 13,000 square feet to 210,000 square feet, complete with demising walls and individual office build-outs.

LINDEN, NJ—Bussel Realty arranged the sale of 1200 West Blancke Street in Linden, New Jersey, a 67,000-square-foot industrial building, for $3.9 million. Jordan Metz, senior associate of BRC, represented the owner, M. Gordon Construction. Cushman and Wakefield represented the buyer, West Coast Shipping.

AVENEL, NJ—Multiple rounds of bidding and a combined $65 million sale price for two industrial buildings in Avenel reflect continued strong investor demand for class A product in New Jersey's Port submarket. Cushman & Wakefield's East Rutherford, NJ-based investment sales team orchestrated the trades of 191 Blair Road and 215 Blair Road from Sitex Group to Barings Real Estate on behalf of an institutional investor. Located at Exit 12 of the N.J. Turnpike/I-95, the sales included a fully-renovated, 175,182-square-foot building and a newly constructed, 198,854-square-foot building. Both structures were unoccupied at the time of marketing. Cushman & Wakefield investment specialist Gary Gabriel represented the seller and procured the buyer with Andrew Merin, David Bernhaut, Brian Whitmer, Kyle Schmidt and Andrew MacDonald.

QUEENS, NY—GFI Realty Services brokered the $22-million sale of 22-11 New Haven Avenue, a six-story, 108-unit apartment building located in the Far Rockaway section of Queens. The 96,310-square-foot property is comprised of 14 studio apartments, 18 one-bedroom units, and 76 two-bedroom units, as well as 21 parking spaces. GFI Realty's Yosef Katz represented both the buyer and the seller in the transaction. The seller was real estate investor Irving Langer of E&M Associates, who had owned the building since 2014. The buyer, Vincent Ragosta, purchased the property as the back half of a 1031 exchange, following the sale of two Jamaica properties in August 2017. Katz also represented Ragosta in the Jamaica transaction. The building is situated near the Mott Avenue and Beach 20th Street junction, providing access to numerous restaurants and retailers. It is also just minutes away from the A train's Far Rockaway/Mott Avenue station.

EAST ORANGE, NJ—The Kislak Company brokered the $12.75 million sale of Harrison Gardens (pictured), an 88-unit property at 255-271 South Harrison Street; and Elm Gardens, a 44-unit property at 296-310 South Harrison Street both in East Orange, NJ. Senior vice president Joni Sweetwood marketed the properties on behalf of the seller, a long-term client, and represented the purchaser, a private investor.

NEWARK, NJ—Metropolitan America closed on the sale of a 70-unit multifamily building located at 10 Osborne Terrace in Newark, NJ. The sale price $8.05 million, or $115,000 per door, set the new official record for an existing multifamily building in the Newark. On the heels of the recent $250,000 per door sale of 75 Prospect in East Orange, NJ, gives Metropolitan America multiple current sales records in Essex County. Metropolitan America remains extremely active in the NJ multifamily market with over 1,000 units under management. The company says its recent purchase of a 72-unit portfolio in East Orange and a 63-unit portfolio in Atlantic Highlands positions it for solid sustained growth in the marketplace.

TRENTON, NJ—Mercer County Assignment Judge Mary C. Jacobson on Thursday ruled that towns must meet fair housing needs totaling more than 150,000 units. In an extensive 217-page ruling, Judge Jacobson also rejected many of the arguments a group of towns was using to artificially reduce their housing obligations. The court's ruling follows a series of unanimous New Jersey Supreme Court decisions beginning in 2015 that culminated with justices turning fair housing enforcement back to the trial courts.

PATERSON, NJ—CBRE's Tri-State Investment Properties team has arranged the $1 million sale of a 19-unit multifamily building at 315 Park Avenue in Paterson, NJ. The team of first vice president Charles Berger and first vice president Elli Klapper represented the property's seller and procured the New York-based buyer in the transaction.

Money Moves

NEW YORK, NY—Marcus & Millichap hired Alex Svetlakou to serve the interests of commercial real estate owners and investors in South Brooklyn. Before joining Marcus & Millichap, Svetlakou worked for Cushman & Wakefield, where he specialized in the sale of investment real estate in South Brooklyn.

NEW YORK, NY—Lower Manhattan Cultural Council is pleased to announce that Lili Chopra has been appointed Executive Director, Cultural Programs and Grants & Services. She is set to assume the position on April 9. Chopra brings extensive experience commissioning, programming, producing and marketing international events and performance works in New York and France. She comes to LMCC from the French Institute Alliance Française, where she has served as Executive Vice President and Artistic Director since 2006.

MARLTON, NJ —Vantage RES named L. Michael DiVietro III an associate vice president. DiVietro will help to further drive the firm's strategic expansion of specialized service offerings in the region. DiVietro's experience includes client representation, surveying, site conceptualization & design, permitting and working with private developers across New Jersey, Pennsylvania and Delaware.

NORTH PLAINFIELD, NJ—Levin Management Corporation has appointed Lai Lau as controller. The Manalapan, NJ, resident brings more than 30 years of accounting experience specializing in retail shopping centers and commercial office buildings to her new position at the North Plainfield-based commercial real estate services firm.