S.V.P. Matt Weilheimer Anchors Kislak Team in Separate Transactions

Woodbridge, N.J., August 7, 2018 – The Kislak Company, Inc. announced the recent sale of nine properties in southern New Jersey comprised of 976 residential units, 92,000-square-feet of commercial space, and approximately 5.67 acres of land. The separate transactions totaled $67,202,500.

Senior vice president Matt Weilheimer commented on the desirability of the regional submarket, “There are still value-add opportunities in southern New Jersey especially compared to those in the northern part of the state where pricing is considerably higher. More and more investors are in search of multifamily and other well-performing investment properties in south Jersey.”

The multifamily transactions include the:

  • $27,380,000 sale of Stonington Court Apartments, a 456-unit complex in Lindenwold, Camden County;
  • $12,150,000 sale of Laura’s Glen Apartments, a 197-unit garden-style complex in Pennsville, Salem County;
  • $6,750,000 sale of Penn Gardens, a 116-unit garden-style complex in Pennsauken, Camden County;
  • $5,500,000 sale of Westwood Manor, a 79-unit garden-style complex in Westville, Gloucester County;
  • $6,200,000 sale of John Wesley Village, a 60-unit HUD property in Camden, Camden County;
  • $2,350,000 sale of Magnolia Park, a 48-unit garden-style complex in Camden, Camden County; and the
  • $2,150,000 sale of the Enclave at Walnut, a 20-unit garden-style complex in Toms River, Ocean County.

The commercial transactions include the:

  • $4,430,000 sale of the 52,000-square-foot Quail Creek Shopping Center that includes both retail and office space in in Howell, Monmouth County;
  • Sale of 5.67 acres of land designated for townhouse development in Mullica Hill, Gloucester County; and the
  • Distressed sale of a 40,000-square-foot vacant building, formerly a supermarket, in Pittsgrove, Salem County.

 

Mr. Weilheimer represented the sellers in all but three of the transactions. He and senior vice president Barry Waisbrod together represented the purchasers of Stonington Court and Laura’s Glen. Senior vice president Jonathan Greenberg represented the purchasers of Penn Gardens and Magnolia Park. Senior vice president Joni Sweetwood represented the purchaser of John Wesley Village and sale associate Justin Lupo represented the seller of the Quail Creek Shopping Center.

All residential properties are garden-style buildings at 95-100% occupancy, are situated within minutes of shopping, and within close proximity to major roadways and destinations such as the New Jersey Shore, Center City Philadelphia and Wilmington, Delaware.

Mr. Weilheimer joined Kislak in 1996 and is consistently among the firm’s leading salespeople. He specializes in the sale of apartment buildings, REO assets and other investment properties in New Jersey, New York, Delaware and Pennsylvania. Mr. Weilheimer has won numerous sales production awards including the firm’s 2010 and 2015 Production awards.

About The Kislak Company, Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage consistently recognized for its investment sales success. Established in 1906, Kislak’s market leadership position and longevity are due to its ability to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals. Kislak’s prestigious client base includes individual investors and owners, partnerships, financial institutions, and REITs. The firm’s 30 professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania and Delaware.

Now in its 112th year, Kislak was among a select group of firms recognized as a 2017 Power Broker by CoStar Group, Inc. and this was the firm’s twelfth consecutive recognition.

For more information about The Kislak Company, Inc., please contact Jason Pucci, Chief Operating Officer, at (732) 750-3000 or jpucci@kislakrealty.com, or visit www.kislakrealty.com

 

 

Kislak Sells Southern N.J. Investment Properties for $67.2 Million