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Kushner new buy

HACKENSACK, NJ—Kushner Companies has acquired Prospect Place, a 360-unit, two-building multi-housing property in Hackensack, NJ. Industry observers familiar with the property say the purchase price was around $100 million. Holliday Fenoglio Fowler marketed the property exclusively on behalf of the property owner, who was not identified. However, Real Capital Analytics, a proprietary transaction database, indicates that the property’s most recent owner was a joint venture of Goldman Sachs, Greystar, and Ivanhoe Cambridge, which acquired the asset in January 2013 for nearly $99.2 million as part of a 27-property Equity Residential Apartment Portfolio. HFF says Kushner purchased the property free and clear of existing debt. The HFF investment advisory team representing the seller included senior managing director José Cruz, managing director Kevin O’Hearn, senior directors Michael Oliver and Stephen Simonelli and director Marc Duval. “Prospect Place represents the right mix of infill Northern New Jersey multifamily product with renovation upside,” Cruz says. “Its Bergen County location with direct access to New York City attracts a wide array of tenants.” Prospect Place, 300 and 310 Prospect Avenue, offers convenient access to the New York City metropolitan area via the nearby NJ Transit Anderson Street station and Interstates 80 and 95. The two-phase property consists of an 18-story high-rise comprising 157 units averaging 1,331 square feet and a four-story mid-rise building comprising 203 units averaging 1,077 square feet. Community amenities include an outdoor lap pool with sundeck, landscaped courtyard, grilling stations, fitness centers, billiards room, resident lounges, concierge service and 653 covered parking spaces. Prospect Place is 96-percent occupied.

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Sold Properties South NJ

PENNSAUKEN, N.J. — Colliers International has negotiated the sale of three industrial buildings in Southern New Jersey for a combined $7.5 million. The three properties located in Pennsauken include: 9240 Commerce Highway, a 67,600-square-foot warehouse acquired by a private investor for $3.2 million; 6995 Airport Highway Lane, a 60,800-square-foot manufacturing facility purchased by Heat Makers Sense for $2.7 million; and 9265 Commerce Highway, a 33,500-square-foot warehouse acquired by Draco Broadcast for $1.6 million. The seller was the Bloom Organization. Ian Richman and Marc Isdaner of Colliers arranged the sale of the three properties. FacebookTwitterEmailLinkedInShare

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CYBER COMPANY EXPANDING

AIRFIELD, NEW JERSEY, USA, March 12, 2018 /EINPresswire.com/ -- Local business technology solutions leader, Quikteks, is growing as more New Jersey businesses recognize the importance of computer network security. As a result, Quikteks is expanding its office space. According to Quikteks owner and CEO Andrew Rich, "We need to expand our resources to accommodate the growing demand for better technology security." Quikteks specializes in helping local businesses prevent and reduce cyber threats with enterprise firewalls, front-end email security, anti-virus solutions, and more. Rich explained that these threats, which include computer viruses, spyware, hackers, and ransomware, are growing and becoming more ominous. "Not only can these threats affect network performance, they compromise a business's data security, financial resources, and reputation," he said. Quikteks has been listed in Inc.'s Top 5000 Fastest Growing Companies list for the last two years. "We're humbled by the continued loyalty of our customers and committed to serving them exceptionally," Rich said. "If that means we have to tear out a few walls to make more space, so be it." With increasing demand for local expertise, network security, and managed services, Quikteks is doing just that -- expanding its office space and tearing down a few walls to make space for more technicians. "We need more room to better serve our clients," Rich said. "We're thankful for their continued support and look forward to serving our community in our expanded office." Rich suggests scheduling a free computer Internet security assessment from Quikteks. Visit Quikteks.com or call 973-882-4644.

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Ridgefield Warehouse Sold

Marcus & Millichap Facilitates $9M Sale of Industrial Building in Ridgefield, New Jersey POSTED ON FEBRUARY 12, 2018 BY AMY WORKS IN INDUSTRIAL, NEW JERSEY, NORTHEAST RIDGEFIELD, N.J. — Marcus & Millichap has brokered the sale of an industrial building located at 730 Grand Ave. in Ridgefield. A private investor acquired the property from a limited liability company for $9 million. Renovated in 2015, the 81,870-square-foot property was 93 percent occupied at the time of sale. Steve Lim of Marcus & Millichap represented the seller and buyer in the deal.

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State Committee Approves Controversial Trenton Project

State Committee Approves Controversial Trenton Project

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Weiss Realty Acquires 48,492 SF Office Building in Neptune, New Jersey, for $8.6M

Weiss Realty Acquires 48,492 SF Office Building in Neptune, New Jersey, for $8.6M

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NJ Warehouse Market at Historic Levels

NJ Warehouse Market at Historic Levels

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Reputed Mobster Sells Land to NJ Transit

Reputed Mobster Sells Land to NJ Transit

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How New Tax Bill affects Real Estate

How New Tax Bill affects Real Estate

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One Newark Center SOLD

One Newark Center SOLD

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