A new restaurant has opened its doors in Fairview after taking more than 1,700 square feet at a neighborhood shopping center, in a deal arranged by Lee & Associates New Jersey. The business, El Primo Mexican Restaurant, occupies space at 175 Broad Ave. under a lease with Vail Development LLC. Lee & Associates’ Josh Krantz represented both parties in the long-term, 1,737-square-foot lease, which brings the roughly 15,000-square-foot Valley Plaza Shopping Center to 100 percent…
Lee & Associates promotes two industrial brokers to assistant vice president
Lee & Associates New Jersey has promoted two industrial brokers to the role of assistant vice president, the Elmwood Park-based firm announced Tuesday. In a news release, the company said Joseph Komitor and William Ziegler joined its team in 2021 and 2019, respectively. Both started as associates in the industrial brokerage division and are among several recent personnel moves by the firm, as it continues to expand in the state. “Rewarding outstanding performance is critical to…
Industrial broker Wisse named partner with Lee & Associates New Jersey
A veteran broker with Lee & Associates New Jersey is now a partner after earning his fourth promotion since 2016, when he joined the Elmwood Park-based team as an associate. In a news release, the firm said Troy Wisse specializes in property sales from the state’s port submarket to the Meadowlands. As a partner, he will help nurture new talent while enjoying an advanced split structure, participation in profit sharing and influence in company decision…
ROI Influencers: Real Estate 2022 — Jason Lynch
Jason Lynch Founding principal Lee & Associates – New Jersey In his 30-plus years of commercial real estate experience, Lynch has represented the interests of landlords, developers, lenders, investors and tenants in New Jersey and the tri-state area, participating in deals that total more than $200 million of real estate transaction value. MEDIA: By: ROI-NJ Staff ROI-NJ
Terreno sells Somerset industrial building for $25 million, nearly tripling purchase price
Terreno Realty Corp. has sold an 86,000-square-foot industrial building in the Somerset section of Franklin for $25 million, nearly tripling the price it paid for the property in 2016. The fully leased building, 70 Schoolhouse Road, sits on 6.9 acres less than three miles from Interstate 287. The deal follows Terreno’s purchase of the building in September 2016 for $9.1 million, the Bellevue, Washington-based firm said, noting that its investment generated an unleveraged internal rate…
Bus contractor takes 72,000 sq. ft. for North Bergen van depot, Lee & Associates says
A transportation company has expanded its footprint with a new 72,000-square-foot industrial lease in North Bergen, in a deal arranged by Lee & Associates New Jersey. According to the real estate services firm, the space at 5901 Tonnelle Ave. will serve as a van depot for First Transit, allowing it to serve all of Bergen County and parts of Passaic County. Lee & Associates New Jersey’s Scott Deutchman represented the tenant in the lease with…
NAIOP NJ Honors Volunteers at 2022 President’s Awards
Eight NAIOP New Jersey members were recently honored for their outstanding leadership, advocacy and career accomplishments at the chapter’s Annual President’s Awards and Hall of Fame Dinner. The 2022 nominees to the commercial real estate development association’s Hall of Fame were also inducted during the event, which was held at the Hilton Meadowlands. “For me, it is an honor to recognize our members who exemplify leadership and service to the New Jersey Chapter,” said the…
Woodmont acquires 30,000 sq. ft. Lyndhurst industrial building
Woodmont Industrial Partners has added to its holdings with the purchase of a 30,000-square-foot warehouse and distribution facility in Lyndhurst. The firm on Tuesday said the property, 2 Terminal Road, is available for lease. The Woodmont Properties affiliate acquired the building from an undisclosed seller, touting its location near routes 3 and 17 and features such as 18-foot ceiling heights, two loading docks and two drive-in doors. Michel Schaible and Troy Wisse of Lee &…
NAIOP New Jersey details slate for annual President’s Awards, Hall of Fame Dinner
Eight key players in the state’s commercial real estate sector will take the stage in early November as part of NAIOP New Jersey’s annual President’s Awards and Hall of Fame Dinner. The organization last week announced its slate of honorees for the popular program, scheduled for Nov. 7 at the Hilton Meadowlands in East Rutherford. They include: Legacy Award: Geoffrey L. Schubert, partner, Lee & Associates New Jersey Pillar Award: Jesse Harty, senior vice president,…