NEWARK, NJ – Alex Brown Realty and Treetop Development have sold Parkwood Place Apartments, a 294-unit mid-rise apartment community at 368 Mount Prospect Avenue in the Forest Hill neighborhood of Newark, NJ, for $23.8 million. HFF brokered the sale after marketing the property for the Brown/Treetop joint venture.
Cornerstone Group arranged a financing deal, Cassidy Turley, Alfred Sanzari and BRC signed lease deals, and Transwestern got a new assignment to market a big office complex in Bridgewater. It's all being tracked in this week's Deal Tracker roundup.
JERSEY CITY, NJ—Charles Komar & Sons, Inc., a privately held, global retail provider specializing in the design, marketing, sourcing and distribution of sleepwear and other retail apparel, has signed a 17-year lease for 159,141 square feet at Chambers Street Properties' 90 Hudson Street in Jersey City, NJ.
CARTERET, NJ–Carteret Mayor Dan Reiman helped cut the ribbon today on a luxury rental complex on lower Roosevelt Avenue, as part of Kaplan Companies' continuing, sweeping redevelopment of the neighborhood.
KING OF PRUSSIA, PA–Willner Properties has signed three new tenant leases at the Exton Corporate Center located at 102 Pickering Way in Exton, PA with Lee Johnson & Associates, Supreme Lending and Trinity Consultants. The class-A, 80,000 square foot, five-story building recently completed the first phase of interior and exterior renovation.
LIVINGSTON, NJ—Hollister Construction Services has been named construction manager for LifeTown, a 47,000-square-foot, $14-million facility in Livingston, NJ, that will provide social, therapeutic, recreational and educational programs to youths with special needs.
PHILADELPHIA, PA—The Feil Organization, managing partner of the partnership of Feil, Chera & Goldman, has sold One & Olney Square, a Shop Rite-anchored center in North Philadelphia, to Wharton Realty Group for an undisclosed sum.
HACKENSACK, NJ—L&B Realty Advisors, LLP has named NAI James E. Hanson to manage and lease a portfolio of 10 industrial properties totaling more than 850,000 square feet throughout northern and central New Jersey.
MOUNT LAUREL, NJ—Paramount Realty has sold the Village at Cambridge rossing, at the intersection of Route 38 and Interstate 295 in Mt. Laurel, NJ, to Cornerstone Real Estate Advisers for $41.7 million.
NORTH BERGEN, NJ—The recently completed transformation of a 300,000-square-foot former Liz Claiborne, Inc. headquarters building in North Bergen is drawing the attention of the brokerage and business communities, according to Cushman & Wakefield's Curtis Foster. Real Capital Solutions, which purchased the property at 5901 West Side Ave. in 2013, has made substantial investments into phase one and two to repurpose it as a modern, multi-tenant property.
