CRESA's Dennis Gralla inks 155,000 s/f of deals in 2004.Dennis Gralla, principal of CRESA Partners' New Jersey office, remains one of the top producers in New Jersey's commercial real estate office market, having closed more than 155,000 s/f of transactions in 2004. Gralla also recorded one of the largest office transactions in the Meadowlands in quite some time. "There continues to be demand by tenants throughout the northern New Jersey office market," said Mr. Gralla. "Conditions are very favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. for tenants who can secure terms that will not be available forever, especially in light of a recovering economy. In this type of marketplace, tenants that act accordingly can secure terms that will help their businesses for many years to come." Highlights recorded by Dennis Gralla in the first half of 2004 include: A $16 million portfolio purchase on behalf of long-term clent Mount Pleasant Management Corporation. The properties encompass approximately 100,000 s/f of office space throughout Northern and Central New Jersey. The transaction was a 1031 tax-free exchange tax-free exchange An exchange of assets between taxpayers in which any gain or loss is not recognized in the period during which the exchange takes place. Rather, taxpayers are required to adjust the basis of assets exchanged. . The acquired properties include 75 Montgomery St. in Jersey City, a 42,620 s/f, seven-story office building with ground floor retail; 754 Route 18 in East Brunswick, a 36,000 s/f two-story office property, and 1415 Queen Ann Road in Teaneck, a 19,000 s/f, two-story office building. A 51,031 s/f office lease at 400 Plaza Drive in Secaucus, N.J. on behalf of Kenneth Cole Productions Kenneth Cole Productions, Inc. is an American fashion house founded in 1982 by Kenneth Cole. Born in Brooklyn, Cole is a graduate of Emory University. He originally named the company Kenneth Cole Incorporated in September 1982 and planned to showcase his new line of shoes during , Inc. Hartz Mountain Industries Hartz Mountain Industries (HMI) is a private family owned and operated company known for its vast real estate holdings in the New York/New Jersey Metropolitan Area. Its former parent Hartz Mountain Corporation (of pet products fame), was founded by German-American businessman Max is the owner of 400 Plaza Drive, which is part of Hartz's Harmon Meadow meadow grassland, used for grazing and/or haying. meadow buttercup ranunculusacris. meadow crowfoot ranunculusacris. meadow rue see thalictrum. mixed-use development Mixed-use development refers to the practice of allowing more than one type of use in a building or set of buildings. In planning zone terms, this can mean some combination of residential, commercial, industrial, office, institutional, or other land uses. . A 4,198 s/f office lease expansion on behalf of Delta Galil USA, Inc., a manufacturer of intimate apparel, at 150 Meadowlands Parkway in Secaucus, N.J. |
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