X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MORRIS PLAINS, NJ-When all of the numbers were added up for the month of June, Weichert Commercial Brokerage, based here, found that it had completed almost 494,000 sf worth of sales and lease transactions for the month. And it all generated the largest revenue for one month in the company’s history, according to its president, John Udell.

“We are encouraged by the sudden increase in activity,” Udell says. “We’re confident that all of the economic indicators point to a continued increase in the volume of transactions completed in the second half of this year.”

In some of the larger deals on the office side, the activity was led by EVP W. Joshua Levering’s and VP George Simson’s representation of the Polish and Slavic Federal Credit Union’s acquisition of a 72,000-sf class A office building in Fairfield, NJ. The seller, 9 Law Drive Associates, represented itself. The buyer will occupy about half the building and lease the rest out.

Also on the office side, Weichert SVP Margaret Lapadura sold a five-building, 33,000-sf office complex in Union City, NJ, representing both seller Hudson Physicians Associates and buyer Goal Investments. And in Paramus, NJ, SVP David Hirschman and associate Darren McGowan negotiated a five-year extension of a lease by Neilsen & Bainbridge for 25,500 sf at Eisenhower Drive Associates’ 40 Eisenhower Dr.

As far as the largest deals on the industrial side, sales associates Michael Kerins and James Diminich sold an 80,416-sf industrial building in Paterson, NJ, repping the seller, TT Electronics. Team Resources spoke for the buyer of the 2.1-acre property, Rothschild Realty Inc.

In Jersey City, vice president Arthur J. Reinitz, Jr. represented both the buyer and seller, who were not identified, of a 71,000-sf industrial property on Amity St. And in Hillside, NJ, SVPs David Fisher and John Sievers and sales associate Terence Kenny, repped the seller, Associated Industrial Developers, in the sale of a 42,000-sf property. Bussel Realty represented by buyer.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.