Among recent transactions in the New Jersey market, Queen Latifah and her real estate partners are unloading a historic firehouse in Jersey City, and NAI Mertz brokered a large industrial sale in Burlington.

SALES

MT. LAUREL, NJ—NAI Mertz recently arranged the sale of 6 Campus Drive, a 503,000 square foot industrial property just off Route 130 in Burlington, NJ.  Scott Mertz, SIOR, president, was the sole broker in the transaction. The buyer is an investor that acquires and operates single tenant industrial properties. Generation Brands, a manufacturer and distributor of decorative and functional lighting and ceiling fan products, occupies the entire building. “The property sits on 60 acres offering the expansion potential of nearly 250,000 square feet making this an ideal purchase for the investor, and the tenant was able to remain in a state-of-the-art facility in a perfect location for its business. This transaction was a win-win for both parties,” says Mertz. 6 Campus Drive is a class A warehouse building offering 32' clear ceiling heights, 61 loading docks and ESFR sprinkler systems.  The building also is equipped with state-of-the-art solar paneling that provides reduced electrical costs.

JERSEY CITY, NJ—Singer and TV talk show host Queen Latifah continues disposing of New Jersey properties. Following on the recent sale of her multimillion-dollar home in Colts Neck, Latifah (who was born Dana Owens) recently sold the historic 4,500 square foot firehouse building, which her production company had been using at 155 Morgan Street, for $2.18 million. Luis Negron and Janie Spataro of Robert De Ruggiero Inc Realtors of Union City, NJ represented Queen Latifah and Co-Owner Shakim Compere,  through their business, Flavor Unit RE Holding Corp. Representing the buyer, NJ Dragon Property, were Savills Studley managing director Josh Porter, senior managing director Craig Lemle, and managing director Yin Li.

LEASES

PARAMUS, NJ–The Goldstein Group says four new leases have been signed at Village Shopping Center in New Providence, NJ. “The shopping center, which had numerous vacancies in recent years, is now almost fully leased,” says Chuck Lanyard, president of The Goldstein Group. CJ Huter, a Goldstein Group vice president, represented the owner on the following new transactions: Sport Clips, a sports-themed barbershop (1,330 square feet); Purre Barre (1,650 square feet); Jersey Mike's (1,200 square feet); and Orange Theory Fitness (3,969 square feet).

HACKENSACK, NJ–General Nutrition Corp. has renewed its lease for 1,200 square feet at Summit Plaza, 370-380 West Pleasantview Ave., Hackensack. The 100,000-square-foot supermarket-anchored neighborhood shopping center is owned and managed by Alfred Sanzari Enterprises, which negotiated the transaction in-house. “Summit Plaza has been more than a stable location for GNC, and our store continues to perform very well here,” says John Stokes, GNC's real estate representative. “We are pleased to renew our lease, and similarly look forward to continuing our long-standing partnership with Alfred Sanzari Enterprises.”

HACKENSACK, NJ–NAI James E. Hanson has leased out 7,500 square feet of specialized auto repair space at 184 River Street - the 55 Midtown Bridge Approach - on behalf of client Globe Tire Service.

 NAI Hanson vice president Anthony Cassano managed the transaction between Globe and its new tenant, Pro Auto - a full-service automotive repair center that needed a new space to support its continued growth. The newly leased space features nine overhead doors, more than 14 service bays and lifts, a modern customer service area with offices and restrooms, 30 parking spaces, and frontage along River Street, one of Hackensack's main thoroughfares. The property also offers easy access to Routes 80, 17 and 46, all of which are minutes away.