SOUTH ORANGE, NJ — Gaslight Commons on Third Street was sold on Jan. 14 to Pacific Urban Residential LLC. Commercial real estate firm CBRE arranged the deal between the buyer and the seller. The property has been renamed Sofi Gaslight Commons.
Built in 2002, the 200-unit property was formerly the site of Wells Cadillac.
The sale price was reported to be $84.2 million. The new management company is Pinnacle Property Management Service LLC, which is owned by Cushman & Wakefield. The former management company was Bozzuto Management Company, based in Greenbelt, MD.
Both the property manager, Trish Andrews, and the assistant property manager, Lisa Rawlings, are continuing in their positions and a third staff person for the management office has been hired.
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