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Camber Real Estate Partners and Advance Realty Acquire 19 Chapin Road

75a2b2de44b281fb5597_Chapin_Road_Exterior_Courtesy_of_Camber_Real_Estate_Partners_and_Advance_Realty.jpg
19 Chapin Road Exterior Credits: Courtesy of Camber Real Estate Partners and Advance Realty
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19 Chapin Road Aerial Credits: Courtesy of Camber Real Estate Partners and Advance Realty
75a2b2de44b281fb5597_Chapin_Road_Exterior_Courtesy_of_Camber_Real_Estate_Partners_and_Advance_Realty.jpg

MONTVILLE, NJ – A joint venture partnership between Camber Real Estate Partners and Advance Realty announced Nov. 14 that it has acquired a four-building, 529,110-square foot light industrial facility located at 19 Chapin Road in Pine Brook.

The facility is currently 60 percent leased to a mix of tenants including credit-rated national electronics and e-commerce corporations such as Samsung Electronics and Pitney Bowes, as well as regional, national and international firms such as Trane and Doosan Machine Tools. Camber and Advance plan to convert some portions of the property from offices into light industrial use, allowing it to capitalize on the robust demand for industrial space driven by northern New Jersey’s access to nearby ports and densely populated communities throughout the region.

“The property is one of the premier light industrial assets in northern New Jersey and is situated in a location that is desirable to both global and national companies and regionally headquartered users,” stated Dave C. Surti, Principal of Camber Real Estate Partners.

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Constructed in 2001, 19 Chapin Road is situated on 129.4 landscaped acres and features 22-foot ceilings within the warehouse space. A variety of potential office configurations make it suitable for an array of manufacturing, distribution, office and research laboratory uses.

“The property’s proximity to executive housing, as well as its access to an abundant and well-educated labor force enhances its profile as a desirable industrial asset in northern New Jersey,” said Alexander Cocoziello, Principal and Vice President of Advance Realty. “We are pleased to continue our partnership with Camber Real Estate Partners on this best-in-class industrial opportunity.”

The partnership plans to reposition the asset and hold it as a long-term investment.

“This property offers our partnership another rare opportunity to acquire an institutional-quality asset in the supply-constrained northern New Jersey market,” stated Christopher M. Bellapianta, Managing Principal of Camber Real Estate Partners. “The property has a strong mix of tenants, and we look forward to adding new companies to its roster as we complete the repositioning and ensure its long-term success.”

The project was marketed for sale by the New Jersey Investment Sales team of Holliday Fenoglio Fowler, L.P. The team was led by Jose Cruz, Senior Managing Director and Co-Head of New Jersey and included Kevin O’Hearn, Michael Oliver, Stephen Simonelli, Marc Duval and J.B. Bruno.

Greg Nalbandian, Senior Managing Director of Holliday Fenoglio Fowler’s Equity, Debt and Structured Finance Group arranged mortgage financing with a team including Timothy Mason. The financing was provided by Natixis who originated a $40.0 million floating-rate loan concurrent with the acquisition.

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Sun, January 21, 1:00 PM

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Snowshoe Sundays at Pyramid Mtn

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Pyramid Mountain Natural Historic Area, Montville Township

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A Letter of Thank You from Former Montville Township Mayor James Sandham

January 15, 2018

I have a number of Thank Yous -

First and foremost, to the citizens of Montville, Pine Brook and Towaco - for your support in four Primary and four General Elections.  I am truly honored that you gave a “poor kid from the Bronx” with a speech impediment, who had only been in town for 8 years, the privilege to be a leader in your town.

To Deb Nielson – I truly ...

Montville Women’s Club Announces Meetings, Collection, Blood Drive

January 19, 2018

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General Meetings:

All women are invited to join the general membership meeting of the Montville Township Women’s ...

Montville Township Public Schools Launches First District Logo/Motto in Town’s History

January 17, 2018

MONTVILLE, NJ - EDUCATE. INSPIRE. EMPOWER. Montville Township Public Schools officially launched a district-wide logo and motto on Thursday, Jan. 11, 2018. The system of trademarked images both unifies the district’s seven schools and defines the individual identities of each school. The new brand represents the first time in the district’s history that a logo and motto ...

Speakers Announced for Saturday's Women’s March on New Jersey in Morristown

January 15, 2018

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Montville Women’s Club Announces Meetings, Collection, Blood Drive

January 19, 2018

MONTVILLE, NJ – The Women’s Club of Montville Township would like to welcome all area women to join us in learning more about the club, our charitable contributions, involvement in community events, and opportunities for collaborating with like-minded women.

General Meetings:

All women are invited to join the general membership meeting of the Montville Township Women’s ...

Columns

Century 21 Open Houses This Weekend

MONTVILLE, NJ -  Following are Century 21 open houses this weekend:

Saturday, Jan. 20 from 1 - 4 p.m.

Brownstones at Fairfield, Stonybrook Circle (Using GPS - Enter 66 Two Bridges Road)

Sunday, Jan. 21 from 1 - 4 p.m.

Brownstones at Fairfield, Stonybrook Circle (Using GPS - Enter 66 Two Bridges Road)
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Century 21 Open Houses this Weekend

MONTVILLE, NJ -  Following are Century 21 open houses this weekend:

Saturday, Jan. 13 from 1 - 4 p.m.

Brownstones at Fairfield, Stonybrook Circle (Using GPS - Enter 66 Two Bridges Road)

Sunday, Jan. 14 from 1 - 4 p.m.

Brownstones at Fairfield, Stonybrook Circle (Using GPS - Enter 66 Two Bridges Road)
8 Summit Drive, Bld #10, North Caldwell
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Open Houses this Weekend from Century 21

MONTVILLE, NJ - Century 21 has the following open houses this weekend: 

Saturday, Dec. 30 from 1 - 4 p.m.

Brownstones at Fairfield, Stonybrook Circle (Using FGPS - Enter 66 Two Bridges Road)

 

 

AtlantiCast

AtlantiCast: Episode 010

On this week’s AtlantiCast, we take you to the groundbreaking for an expansion to Morristown Medical Center, introduce you to the newest babies of 2018 at Atlantic Health System and share some must-see winter weather tips!

 

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