JLL Capital Markets arranges $9 million sale of 727 Broad Street in Downtown Newark, NJ

  

Marta Villa

MORRISTOWN, NJ, Aug. 17, 2021 – JLL Capital Markets announced today that it has closed the $9 million sale of 727 Broad St., a 62,275-square-foot retail property with redevelopment potential in downtown Newark, New Jersey.

JLL represented the undisclosed seller and buyer on the transaction.

Michael Oliver

Situated on 0.61 acres, 727 Broad St. is housed on a full city block in the heart of Newark’s transforming CBD and within a Qualified Opportunity Zone.

 

The infill property is across the street from Military Park and three blocks from Newark Penn Station, which provides both PATH and NJ Transit service to Manhattan in under 20 minutes.

 

Additionally, the site is surrounded by large employers and demand drivers, including the Prudential Center, New Jersey Performing Arts Center and a “meds and eds” cluster with Rutgers, Seton Hall Law, New Jersey’s Science and Technology University and Essex County College.

 Jose Cruz 

The JLL Capital Markets team representing the sellers was led by Managing Director Michael Oliver, Senior Vice President Marta Villa, Senior Managing Directors Jose Cruz and Kevin O’Hearn, and Managing Director Steve Simonelli.

“Opportunity Zone capital is still looking for quality redevelopment sites,” Oliver said. “The buyer is making a substantial investment in the future growth of Downtown Newark.”

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

 Kevin O’Hearn

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

For more news, videos and research resources on JLL, please visit our newsroom.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

Steve Simonelli

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.

 JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021.

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. 

 

 CONTACT:

 Kimberly Steele

JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

  jll.com.

Stan Johnson Co. Brokers Sale of Stonebridge Village Shopping Center Near Atlanta, GA

Margaret Caldwell

 FLOWERY BEACH, GA --Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Stonebridge Village, located at 5855 Spout Springs Road in Flowery Branch, Georgia.

 The 157,002-square-foot power center is anchored by T.J. Maxx, Ross Dress For Less, PetSmart and OfficeMax and was 97 percent leased at the time of sale.

Stonebridge Village shopping center
Flowery Branch, GA

Margaret Caldwell and Patrick Kelley of Stan Johnson Company exclusively represented the seller.

 The asset was acquired for an undisclosed price by Rivercrest Realty Investors LLC, a private investor based in Raleigh, North Carolina.

 “Stonebridge Village is a highly sought-after power center with exceptionally performing tenants in a northern suburb of Atlanta near Lake Lanier,” said  Caldwell, Managing Director and Partner in Stan Johnson Company’s Atlanta, Georgia office.

The property was originally built in 2008 and is situated on 24.76 acres at the intersection of Interstate 985 and Spout Springs Road just 30 miles northeast of downtown Atlanta.

 

Patrick Kelley

The center is shadow-anchored by Target, Kohl’s and Home Depot and features a diverse tenant mix of soft and hard goods as well as service retailers, providing synergy and cross-shopping opportunities.

 “With the nearest competing center almost ten miles away, Stonebridge Village draws from a massive trade area and has remained well occupied with more than 85 percent of the tenants being first generation,” added Kelley.

 CONTACT:

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 

www.stanjohnsonco.com.

 

Tricera Capital Adds Jennifer Houston to Growing Team in Miami, FL

 

Jennifer Houston

MIAMI, FL, Aug.17, 2021 – Tricera Capital, the Miami-based real estate investment firm, announces the addition of Jennifer Houston as Vice President - Head of Leasing. She is based in Tricera’s Brickell headquarters.

Houston brings a wealth of retail leasing knowledge to the firm, with about 15 years of industry experience. Her focus will be on urban commercial retail and office leasing, and she will bring a fresh perspective to Tricera Capital’s projects and investments throughout Florida.

Ben Mandell

“We are thrilled to add Jennifer to the Tricera team,” said Tricera Co-Founder Ben Mandell. “Jennifer will be critical to the expansion of our firm’s leasing efforts nationwide.”

Before joining Tricera, Houston was the Director of Leasing for EDENS in Florida, a retail real estate developer. She began her career in the retail industry as a leasing representative, gaining valuable experience leasing up shopping centers across Central and South Florida.

Houston graduated from Florida Atlantic University with a bachelor’s degree in Finance and Accounting.

 

 CONTACT:

Eric Kalis

954-370-8999

ekalis@boardroompr.com

 

Daniel Benjamin

Senior Account Executive

 BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

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1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

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www.triceracap.com.

Reuten Associates Announces Plan for Luxury Senior Housing Community in Downtown Closter, NJ

Mary Ann Hubschman

CLOSTER, NJ, Aug.17, 2021 – Reuten Associates and Metropolis Property Group unveiled plans today for a 195-unit luxury senior housing development in Closter, N.J.

The Residences at Reuten Park will replace five obsolete post-World War II-era manufacturing buildings located within the Reuten Corporate Park to create a modern, state-of-the-art senior housing community.

Mike Reuten

“We fully support plans to convert the industrial park into a residential community that will benefit seniors and add to the charm and beauty of our town,” said Mary Ann Hubschman, who owns and operates the Palisades Country Day School across the street from Reuten Corporate Park with her husband Richard Hubschman.

“This development will more than meet the needs of seniors in Closter which currently doesn’t offer this type of housing for our residents.”

 “We believe that transforming the oldest portion of Reuten Corporate Park from a manufacturing center to a beautiful luxury senior housing community is the ‘highest and best use’ of our land,” said Mike Reuten, owner and managing partner, Reuten Associates.

 “It will beautify the neighborhood and add a significant asset to our community – benefitting seniors, families, neighbors and local businesses.”

 “Often times, seniors like me have to move outside of their communities because of the lack of senior housing options,” said Pat Reuten, co-owner of Reuten Associates. 

“This new development will be a wonderful way to allow seniors to stay close to their families in Closter while still giving them the opportunity to embrace their independence.”

 Nick Sparozic, a lifelong area resident who owns the property where Closter Car Wash operates (formerly Jersey Nick’s Car Wash), also supports the project.

 “For generations, the Reutens have played a pivotal role in Closter becoming one of New Jersey’s most livable communities," said Sparozic.

"Their business has created jobs, provided a significant source of revenue for the town’s tax base, made donations to charities, and provided other meaningful ways of support for the town.

 “Mike Reuten is continuing the family tradition of caring for Closter’s residents by giving the town’s senior population the opportunity to stay in their own community. I’m 100 percent in support of it.”

 The Residences at Reuten Park will be located on an approximately six-acre property at 231 and 239 Herbert Avenue in downtown Closter – within walking distance of downtown retail stores and restaurants including Closter Plaza, as well as the Closter Nature Center.

 The property is located 10 miles north of the George Washington Bridge in Bergen County.

 

 CONTACT:

 

Alexa Cangialosi 

alexa@violetpr.com

https://www.metropolispropertygroup.com/

 

Stream’s Greater Los Angeles Leader Martin Pupil Named Partner

 

 Martin (Marty) Pupil 

LOS ANGELES, CA, Aug.17, 2021 – Stream Realty Partners (Stream), a national real estate services, development, and investment company, is pleased to announce that Martin (Marty) Pupil has been named Partner.

 “In three short years, Marty has significantly grown our Greater Los Angeles presence and footprint,"  stated Stream’s President, Chris Jackson.

 As respected industry veteran with an impressive track record, and strong leader who inspires his team and colleagues, we are excited to have him as a partner in our firm.” 

Chris Jackson

 Pupil joined Stream’s Greater Los Angeles office in 2018 and currently serves as Executive Managing Director, overseeing the operations for Stream’s Greater Los Angeles and Orange County offices.

Since he joined the firm, Pupil has successfully added numerous services lines and new markets, including the Inland Empire and Los Angeles.

  CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”