SRM Q4 Brokerage News and Transactions
Silbert Team Closes on Properties in Somerset & Monmouth Counties
Brian S. Silbert, President & CEO and Senior David Greenman, Vice President of Retail Services are pleased to announce the sale of 65 Morristown Road, Bernardsville, NJ known as the former Audi Dealership. SRM represented the seller, a local family and long-time client, and also the purchaser of the half-acre property, the Borough of Bernardsville. The 7,000 SF structure and underlying land were sold at a purchase price of $1,425,000. A rare purchase opportunity within affluent Bernardsville along route 202 and a municipality SRM continues its strong market presence with its exclusive leasing of 89,000 SF Bernardsville Centre and 25 Mill Street, a luxury apartment third-party management and leasing.
Additionally, the brokerage department recently consummated the sale of a 2-acre pad site along Route 9 within Marlboro, Monmouth County. The pad was part of a larger overall retail development which was home to 35,000 SF NY Sports Club, an existing drive-thru Dunkin Donuts and adjacent Popeye’s Louisiana Chicken leased by SRM on behalf of its long-term association with W&L Associates. The Purchaser is a prominent NJ developer, Paramount Realty Services a preferred developer of major retailers.
Silbert Finds Continued Success Throughout Somerset County
Leasing Associate, Christain Harrington has recently concluded a long-term lease with the national fitness concept "StretchLab" at 100 Marketplace, Basking Ridge, a SRM managed and leased 60,000 SF, "Trophy Lifestyle Center" situated at exit 33 of I-78. When asked about the new lease, Mr. Harrington commented, "StretchLab is a perfect addition to the Class-A mixed-use development, bringing this twelve-year-old development to 100% leased. The boutique fitness provider with over 750 locations including an SRM mixed-use development within Morristown, NJ, is slated to open in February and will complement Club Pilates among other national tenants within 100 Marketplace.
Additionally, Mr. Harrington has consummated five new leases for Class-A office space throughout Warren Township within SRM assignments that include; 67A Mountain Boulevard, The Corner Village at Warren, Gateway East, and 95 Mount Bethel Road. The various office lease transactions range in size between 700 to 5,500 SF and bring occupancy levels at or near stabilization within these well-positioned office and mixed-use properties.
David Greenman Brings to 100 % Leased Route 35 Neighborhood Shopping Center in Middletown, NJ with the Addition of Wild Fork Foods
On behalf of a California-based investment group, as leasing and managing agent, SRM's David Greenman is pleased to announce the execution of a long-term lease at 2009-2011 Rt. 35 Middletown, NJ with Wild Fork Foods, a national specialty grocer that has plans to grow to over 200 stores nationally over the next three years. The proposed Middletown Wild Fork Foods store will comprise 4,000 SF and will be joining nationally recognized tenants Starbucks and Huntington Learing Center within the prominently situated center managed by SRM. Within New Jersey, this is the third location for the specialty grocer and the second within Monmouth County.
Silbert Awarded Three New Mixed-Use Projects from Prominent Meridia Living
Concluding a successful and busy 4th quarter, Meridia Living recently announced SRM's addition to their team of professionals, among one of New Jersey's largest multi-family developers. A staple since the early 1970s, Meridia Living has developed over 10,000 luxury apartment units throughout some of the largest expanding markets; Hackensack, Jersey City, and West New York. Silbert Realty & Management Company has been hired by Meridia Living to implement a successful marketing and leasing campaign for the commercial/retail component of three of their newest luxury developments. According to veteran David Greenman, "we are excited to represent Meridia on multiple assignments within Union and Essex counties and are confident in our firms' ability to add value."
Meridia on Westfield, Roselle Park, has been recently completed comprising 160 luxury apartments and 4,704 SF of ground-level retail space, offering 84 one-bedroom and 76 two-bedroom apartments. The ground floor retail unit is ideally positioned for a restaurant or café concept. Furthermore, this site affords immediate access to the Roselle Park Train Station and is 2.2 Miles from the Downtown Cranford business district.
Meridia Roselle Park 10, Roselle Park’s newest mixed-use development (Currently Under Construction). Consists of 328 luxury apartments containing 52 two-bedroom, 265 one-bedroom, and 11 studios within three, six-story buildings. Offering over 14,000 SF of ground-floor retail providing a strong opportunity for retail, food, personal service, and medical uses.
Meridia Village Commons, is within walking distance of the South Orange train station serving the Morris and Essex line and is considered one of the busiest commuter lines within New Jersey. The residential section offers 65 one-bedroom, 34 two-bedroom, and 8 three-bedroom apartments. The ground floor retail along Valley Street contains 8,862 SF ideally positioned for restaurant, fitness, medical, and traditional retail uses.
Commercial Leasing inquiries for Meridia may be submitted to
Brian S. Silbert or David Greenman.