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FLORHAM PARK, NJ-The Kushner Cos., based here, is better known for its residential portfolio, 25,000 units strong. But the company has been quietly building up its commercial holdings as well, and its latest acquisition has boosted that part of its portfolio beyond the 7.5 million-sf mark.

For a price tag of $22 million, Kushner has picked up a half-dozen buildings totaling 220,000 sf in Northern New Jersey, according to Richard Stadtmauer, the company’s vice chairman and managing partner. The seller was developer Bert Kaplan.

The Kaplan portfolio includes four industrial buildings in Whippany, NJ, located at 125, 145 and 156 Algonquin Parkway and 30-40 Leslie Court; and two in Fairfield, NJ, 341 and 344 Kaplan Dr. The structures are currently 100% leased.

The acquisition also includes a 35,000-sf retail center at 420 Route 10 in East Hanover, NJ, which houses Amazing Savings, Party City and PBK Carpet. The new owner is already negotiating lease terms with a fourth tenant that will bring the center to full occupancy.

According to Stadtmauer, the acquisition of the Kaplan portfolio is part of Kushner’s “aggressive, strategic expansion activities. Our firm continues to grow through portfolio purchases, single-building acquisitions and ground-up development.”

“Demand in the region continues to outpace supply,” Stadtmauer continues. “With limited opportunity for new construction, these properties are well-positioned to maintain their competitive status.”

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