CLIFTON, NJ–CBRE scored a double recently, representing Tulfra Realty II, LLC in the sale of a portfolio of two properties in Clifton, NJ. CBRE brokered the September sale of 10 Clifton Boulevard and followed it up with the closing of 200 Clifton Boulevard this month for a combined $27.3 million.
LIVINGSTON, NJ–Gebroe-Hammer says its investment brokerage activity in Northern New Jersey and Pennsylvania remained brisk in the final quarter of 2014. During the last three months of the year, the firm's area market specialists arranged sales involving 1,045 units.
VOORHEES, NJ—New Jersey American Water has filed a petition with the New Jersey Board of Public Utilities (BPU) for new rates. Company president William Varley says the utility wants to recover the significant investment the company has made in New Jersey's water and wastewater infrastructure since its last rate increase in 2012.
BRIDGEPORT, NJ—WCRE arranged the sale of 600 Heron Drive, Bridgeport, NJ to 602 Heron Drive, LLC for $2 million. The new ownership group purchased the vacant warehouse facility from Omega Engineering, Inc.
The Eastern Pennsylvania Affiliate Chapter of the National ACE Mentor Program has named Joseph W. Healy, AIA, LEED AP BD+C, a managing principal of Wallace Roberts & Todd, and an advocate of sustainable design, to its board.
PHILADELPHIA, PA—Despite recent reports of Chapter 11 bankruptcy filings by three former fractional owners of 1818 Market Street, Sovereign Capital Management Group says the Center City Philadelphia trophy asset remains on solid financial footing with occupancy rates of more than 90%. The 37-story, class-A office building is in escrow for sale to San Francisco-based Shorenstein Properties.
MEDFORD, NJ—NAI Mertz is looking for a buyer or a tenant for 2 Friends Avenue – nicknamed Culture Hall –a unique 4,000-square-foot former cranberry warehouse that has been used as a silent film theater, a recital hall, and now doubles as a combination office space and art studio.
CRANFORD, NJ—Woodmont Properties has opened its Woodmont Station at Cranford rental apartment community for leasing. Woodmont Station is situated close to Cranford's town center, which consists of popular restaurants, shops, entertainment, recreation and bars. The development also includes such amenities as a cyber cafe and a "bark park" for tenants' dogs.
PHILADELPHIA,PA–Dallas-based PNL Companies has acquired the Malvern Executive Center, located at 100 Deerfield Lane in Malvern, PA, from LNR for an undisclosed amount.
