161 Dwight Place, Fairfield, NJ 161 Dwight Place, Fairfield, NJ

Two tech companies expanded their leased space recently in New Jersey and Philadelphia, while an industrial property in Fairfield and a mixed-use in Cliffside Park both changed hands.

Here is a roundup of transactions and executive moves taking place in New Jersey in recent weeks.

Property Sales

FAIRFIELD, NJ —The Stro Companies acquired 161 Dwight Place in Fairfield, a 35,000 square foot industrial building featuring 13-22,000 SF units, cross loading, abundant parking and 23’ ceiling height.   The building was acquired vacant from an international owner/user for $3 million.

672-678 Anderson Ave., Cliffside Park, NJ 672-678 Anderson Ave., Cliffside Park, NJ

CLIFFSIDE PARK, NJ—CBRE’s Investment Properties team has arranged the $1.37 million sale of an 8,400-square-foot mixed-use residential and retail complex at 672-678 Anderson Ave., Cliffside Park, NJ. The property features four street-level retail spaces with four multifamily units above on its second story. CBRE Capital Markets Investment Properties’ Charles Berger and Mark Silverman, in New Jersey, and Elli Klapper, in New York, represented the seller and procured the buyer in the transaction. Notably, the property was purchased at the seller’s full asking price, with a five percent in-place cap rate.

Leases

HACKENSACK, NJ—ClickPay, a leading provider of software-as-a-service-based receivables management software to the real estate industry, has relocated its headquarters to a newly renovated, class A space at Continental Plaza, 411 Hackensack Ave. in Hackensack, N.J., occupying 11,000 square feet in the building. Sean Morley, first vice president at CBRE, exclusively represented ClickPay in its search for a new headquarters space.

PHILADELPHIA, PA—Zivtech, a web design and development company, is taking a long-term lease for approximately 9,860 square feet of class A office space at One South Broad Street. The multi-year agreement, negotiated by Dan Gummel of PernaFrederick, will more than double the size of Zivtech’s center city offices.  Matt Guerrieri and Craig Scheuerle, brokers with Newmark Grubb Knight Frank, cooperated with PernaFrederick and represented Broad One LP, owner of the 465,000 square foot building.  No aggregate rental was disclosed for the lease.  According to Gummel, Zivtech presently occupies some 4,420 square feet at The Philadelphia Building, 1315 Walnut Street, and will move to the 10th floor of One South Broad in early June.

Exclusive Agencies

MORRISTOWN, NJ – Avison Young’s New Jersey office has been named exclusive leasing and property management agent for 10 Waterview Boulevard, a 211,879-square-foot office building in Parsippany, NJ. Jeffrey L. Heller, principal and managing director, and Steven Geltzeiler, senior vice will handle the leasing assignment on behalf of Waterview Investors LLC, which recently acquired the property from New York Life.

RUTHERFORD, NJ—American Landmark Properties has named Cushman & Wakefield as exclusive leasing agent for Meadows Office Complex in Rutherford. The 35-year-old, Chicago-based real estate investment company recently purchased the 600,000-square-foot, two-building class A asset. Curtis Foster and Jerry Shifrin of Cushman & Wakefield’s East Rutherford office are heading the assignment. “The Meadows Office Complex is an iconic Meadowlands corporate property,” says Foster. “It is one of Northern New Jersey’s few high-rise office towers outside of the Hudson Waterfront and the Newark CBD. And it offers the type of fully amenitized environment and accessibility sought by today’s most discerning tenants.”

Renovations

HASBROUCK HEIGHTS, NJ—Alfred Sanzari Enterprises has completed a range of cosmetic improvements at Heights Plaza, 777 Terrace Ave. in Hasbrouck Heights. Enhancements include a full renovation/restoration of the covered parking garage; the installation of new roof-top HVAC units; complete bathroom renovations using high-end materials and modern finishes; renovations to the on-site café, including the installation of new equipment; and the restoration of the building’s elevator mechanical systems. In addition, top-quality finishes have been added throughout Height Plaza’s common areas to enhance the building’s aesthetic appeal.

Executive News

Stephen Cooper Stephen Cooper

PHILADELPHIA, PA—Colliers International named Stephen Cooper senior managing director in its Northeast Logistics & Transportation Solutions Group. Cooper brings more than 38 years of commercial real estate experience to the firm. He spent the past 28+ years with Cushman & Wakefield where he was the senior director responsible for corporate accounts, consulting, and advisory services, land and building acquisitions and dispositions.  He was on C&W’s Executive Committees for the Industrial group and the Global Supply Chain Services specialty practice group. He holds a bachelor of business administration degree from Pennsylvania State University.  He is a member of the Tri-State Commercial and Industrial Association of Realtors, Lehigh Valley Economic Development Association, Scranton Plan, Harrisburg Regional Chamber, Hazelton EDC, and is a member of the Radnor Township Planning Commission.

Evan Zweben Evan Zweben

MOUNT LAUREL, NJ—Evan Zweben, senior vice president in the Mount Laurel, NJ office of Colliers International, was among this year’s recipients of the Jewish Federation of Southern New Jersey’s Youth Adult Division (YAD) Yad b’ Yad Award. The award honors young volunteer leaders in the community. Evan was nominated by the Katz JCC in Cherry Hill, where he has been an active board member for the past three years. Evan has been in professional and medical office brokerage with Colliers International for 12 years and attributes much of his professional success to the relationships he made while working at the JCC during high school.