MADISON, NJ—CBRE's Institutional Properties team of Jeffrey Dunne, Kevin Welsh, Brian Schulz and Frank Maresca, and Alec Monaghan, of the firm's Global Corporate Services unit, represented Maersk in the sale of 2 Giralda Farms, in Madison, for $53.3 million. The team also identified the buyer, American Realty Capital Global Trust Inc.
JERSEY CITY, NJ—In a significant move for development projects in the western part of Jersey City, the city's Planning Board has approved the 21-story McGinley Square project on Bergen Avenue in the Journal Square submarket. The project is being jointly developed by St. Peter's University and a private developer.
RUTHERFORD, NJ—The Kislak Company Inc. helped a client use a novel 98-year ground lease to take control of the Union Bridge Apartments, the largest multifamily property in Rutherford, with 115 units located at 152 Grand Avenue and 153 Darwin Avenue.
RAMSEY, NJ—Jersey Mike's, a leader in the QSR sandwich category with more than 1,300 locations open and under development across the country, has leased two locations in Bergen County, NJ. Winick Realty Group NJ's Gary Krauss was exclusive broker in both transactions as Jersey Mike's continues its aggressive expansion within its home state.
TEANECK, NJ— Cushman & Wakefield, exclusive leasing agents for Glenpointe at Teaneck, the Alfred Sanzari Enterprises property, have signed Ramapo Trust of the Brookdale Foundation Group and Creative Circle to office leases totaling 7,500 square feet.
LONG BRANCH, NJ—The Long Branch Planning Board has approved the first phase of development of The Whitechapel Projects, the strategic conversion of a now vacant 14,500-square-foot, pre-World War I warehouse at 15 to 17 Second Avenue, into a sustainable and inclusive destination offering food and drink, live music, art and entertainment.
PHILADELPHIA, PA—Harrison Street Real Estate Capital, a real estate private equity firm focused exclusively on investments in the Education, Healthcare, and Storage sectors, is acquiring an 11 property senior housing portfolio that includes properties in Philadelphia. Other properties in the portfolio are in the Baltimore, Boston, Staunton, VA and Newport, RI areas.
MAHWAH, NJ—Reflecting increased demand for industrial space in the automotive sales market, NAI James E. Hanson has leased 36,021 square feet at 211 Island Road, Mahwah, NJ, to Ramsey Auto Group.
PATERSON, NJ—CBRE New Jersey and CBRE Cares, the company's corporate giving and volunteerism organization, have partnered with the New Destiny Family Success Center, a provider of community services in Paterson, NJ, to assist with NDFSC's annual “Back to School Supply Drive.”
