Newmark Associates Inc. cites banner first quarter
The Sunday Star-Ledger
During a period that most commercial-industrial real estate firms have described as “trying”, Newmark Associates has bucked the tide.
“Although the office leasing market in general has been soft, Susanne Newmark, president, noted “our firm has far exceeded our projections. We are an entrepreneurial firm with a highly specialized marketing program. This has enabled us to bring tenants and prospective purchasers together in greater numbers than ever before, thereby identifying and facilitating opportunities.”
Newmark reports on recent transactions by associates:
Debbie Myers represented Mercedes-Benz of Morristown in the purchase of a 130,000-quare-foot building in Morristown. Myers located an industrial building that she determined could be retrofitted for use as a car dealership. Mercedes was especially pleased to be able to remain in Morristown, where it has established a loyal and growing customer base.
Vice-Presidents Suzanne Kiall and Meryl Ehrenkranz were responsible for the sale of Skyline Plaza, 414 Eagle Rock Ave., West Orange to an investment client. The 60,000-square-foot building sold for $6.6 million. This was the second time in two years that Kiall and Ehrenkranz sold the building, which was originally part of a two building 100,000-square-foot portfolio.
Ehrenkranz negotiated the sale of a 160,000-square-foot industrial building in New Providence, which sold for $7.5 million. Ehrenkranz represented Valley National Bank, as well as the purchaser. The building was previously the headquarters of the Scott Printing Co.
Kiall was responsible for an industrial lease of 36,500 square feet for MMG Services, a publishing company in Cranford. Kiall also negotiated a 10-year office lease, 10,000 square feet at 100 Campus Drive in Florham Park, on behalf of Quincy Mutual Fire Insurance.
Bill Cunningham represented Bon Chef in its purchase of a 46,000-square-foot building in Vernon, in a $1.3 million transaction. The building will be used as a distribution center for Bon Chef’s rapidly expanding business. Cunningham also represented Braunschweiger’s Jewelry in their purchase of a retail building in Morristown.
Senior Associate Andrew Schwartz and Susanne Newmark were responsible for the marketing and sale of a 133,000-square-foot industrial building in the Ironbound Section of Newark. This property was a Newmark exclusive. Schwartz also represented French Aroma in the purchase of a 16,000-square-foot building located in Carlstadt. Schwartz, along with Kiall, also completed a 10-year lease on behalf of Haven Savings Bank, Livingston.
In another bank transaction, Kiall and Cunningham arranged a 10-year lease for The Bank of Somerset Hills, in Morristown. Cunningham negotiated a 10,000-square-foot lease to Atlantic Neurosurgical Center at 131 Madison Ave. in Morristown, the first medical lease in the building that is owed by Advanced Realty Group.
Newmark Associates Inc., located in Hanover, is a full-service corporate real estate organization, specializing in the sale and leasing of offices and industrial properties. Newmark Associates prides itself on operating an as entrepreneurial firm providing unique opportunities to each of its clients.
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