MOUNT ARLINGTON, NJ—The Gebroe-Hammer brokerage team of vice president Adam Zweibel and senior vice president Stephen Tragash represented the seller and procured the private investment group buyer in the transaction. The price works out to $231,000 per unit.
NORTH BRUNSWICK, NJ—The property's buyer is pursuing approval to raise the roof from its current 21 feet to 40-foot clear. Other improvements will include ESFR sprinklers and a new, energy-efficient lighting program.
PATERSON AND VICTORY GARDENS, NJ—The transactions included the $7.461 million sale of a four-property multifamily portfolio with 85 units in Paterson, Passaic County; and the $13.7 million sale of Victory Hill East, a 124-unit multifamily property in Victory Gardens, Morris County.
PHILADELPHIA—As of the fourth quarter of 2016, Philadelphia was home to 19 operators offering a total of 507,914 square feet of coworking space. Companies expanding their presence in 2016 included New York-based WeWork, The Yard and Joynture, as well as the Philadelphia-based provider Benjamin's Desk.
MORRISTOWN, NJ—44 Whippany Road is located just off Interstate 287 and about one mile from downtown Morristown, which offers many high-end restaurants and boutique shops.
HACKENSACK, NJ—The new building provides much-needed improvements in functionality while seamlessly fitting in with existing historic buildings, including the county jail and courthouse
NEW BRUNSWICK, NJ—All five declared candidates for the New Jersey governor's seat spoke before about 200 members of NAIOP New Jersey at the Hotel Heldrich Mar. 3, describing in individual presentations their vision for improving the business and economic climate in the Garden State. Watch exclusive video of their presentations from our content partner, StateBroadcastNews.com.
FAIRFIELD, NJ—Colliers' Rich Mirliss, who leads the Highpoint Corporate Center leasing team with Alex Vitro of the firm's Parsippany, NJ, office, credits this robust activity to a recently completed, building-wide upgrade initiative combined with an aggressive marketing program.
EATONTOWN, NJ—If the agreement survives a 10-day veto period by NJ Gov. Chris Christie, the estimated $130-million project will also include approximately 40,000 square feet of office space and a total of 302 residential units, 20% of which will be affordable to low- and moderate-income households.
SOMERSET, NJ—The complete renovation, including new carpets, paint, wall coverings, LED lighting, herculite glass door entrances and revamped elevator interiors, is projected for completion in Spring 2017.
