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Sean Ryan is associate editor for Real Estate New Jersey WAYNE, NJ-Laurence J. Rappaport, a New Jersey attorney and real estate investor, has acquired 100 Haul Rd. from Lennar Partners for approximately $5.4 million The vacant property has 99,049 sf of industrial space, including 36,676 sf of office space.

Newmark’s Rutherford office represented Lennar, through principal Richard Madison, associate director Anatole Wedmid and property manager Steven J. Smith. Rappaport was represented by Jeff Rosenberg of CB Richard Ellis, Saddle Brook, who has since moved on to Grubb & Ellis.

Lennar, a division of the Miami Beach-based Lennar Corp., acquired 100 Haul Rd. just last July in a foreclosure proceeding. It shortly put the property up for sale. “The property was definitely actively pursued,” Madison says, “but we needed to find the right deal.”The new owner Rappaport is ideally looking for a full building user, but will consider breaking up the building for smaller industrial/flex users, he adds.

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