Newmark Closes Office and Industrial Transactions
by Jan De Pinto
Jody Riback, Sales Associate at Newmark Associates, Inc. recently completed the lease of an industrial building at 10 Commerce Road in Fairfield, New Jersey. Ms. Riback represented both the landlord and tenant in the transaction.
The new tenant, FabricTech 2000 LLC, founded in 2005 and currently located in Cedar Grove, New Jersey, is a privately held company whose primary business is the manufacturing of household furnishings and agency for non-automotive, product warranty insurance.
Approximately 10,624 SF of the single story building is being leased to FabricTech 2000 for additional warehouse space. The building, approximately 42,500 SF, has seven loading docks, two drive-in doors with ramps, abundant parking and excellent tractor-trailer turnaround space.
Judith Tell Feldman, Managing Director and Director of the Healthcare Services Division at Newmark Associates, Inc. completed a medical lease renegotiation, extension and expansion for the Franklin Surgical Center at 175 Morristown Road, Basking Ridge, New Jersey.
The transaction involved an expansion of the center from approximately 6,700 SF to in excess of 10,000 SF for a term of 11+ years.
The Franklin Surgical Center is a well established, multi-specialty, same day surgery center conveniently located between Morristown and Bridgewater. A state of the art facility, it offers its patients and staff the benefits of the property’s park-like setting.
Deborah Myers, Managing Director and Broker-Associate and Meryl Ehrenkranz, Senior Vice President, at Newmark Associates, Inc. recently sold an office building at 7 Columbia Turnpike in Florham Park, New Jersey to Essex FP Realty Associates, LLC. Ms. Ehrenkranz and Ms. Myers represented the seller, Columbia Land Associates, LLC.
Founded in 2007 and formerly located in Livingston, Essex FP Realty Associates, LLC, is a privately held company which provides financial and investment consulting services.
The two-story, brick colonial building with elevator consists of approximately 10,000 SF plus an additional 1,000 SF fully-heated, storage building on the premises. Well-appointed, the professional building boasts many windowed offices, executive offices with full bathroom, kitchens, and conference room. An ideal location, it is close to public transportation and major highways.
David Williams, Vice President at Weichert Commercial Brokerage, Inc., represented the buyer.
Nancy Glick, Chief Operating Officer/Managing Director, and Charles Ritschel, Sales Associate at Newmark Associates, Inc., sold an industrial building and the associated glass recycling business located at 537-542 Johnston Avenue and 88-94 Bishop Street, Jersey City, New Jersey, representing both the buyer and seller in the transaction. Talman Capital Partners Corporation, a privately held investment company, in partnership with Michael Mahoney, is the new owner and operator of the glass recycling facility.
The sale of approximately 4,000 SF of space and a little less than an acre of land is part of the Morris Canal Redevelopment effort, adjacent to Beacon Hill, along a busy, main thoroughfare on Cornelison Street, and convenient to neighboring residential developments and public transportation.
Newmark Associates, Inc., located in Cedar Knolls, New Jersey, has earned recognition as one of the top real estate brokerage companies by NJBIZ magazine, and CoStar Commercial Real Estate Information and Analytics. The company specializes in lease and sales transactions and has earned a reputation for market expertise in the state of New Jersey.
Certified as a woman-owned business by the Women’s Business Enterprise National Council, Newmark Associates, Inc. is registered as a Supplier Diversity provider with corporate members. Their clients range from regional, entrepreneurial firms to Fortune 500 companies.
Newmark’s banner sales in 2013 have stimulated a recruitment campaign to hire new sales associates. For more information, contact Nancy Glick, Chief Operating Officer, at NGlick@newmarkrealestate.com or via phone at 973.984.4444 x.34.
Contact Susanne Newmark, President/Broker of Record at SNewmark@newmarkrealestate.com or at 973.884.4444 x.20 or visit website at www.newmarkrealestate.com.