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Kislak Completes $2.2 Million Sale in South Orange, N.J.
Ongoing Collaboration with EEA Industries Contributes to Revitalization
December 22, 2014
 

Woodbridge, N.J. – The Kislak Company, Inc., the dominant investment real estate sales firm in the tri-state region, has once again worked with Edward Ayuso II of EEA Industries, LLC, in his ongoing commitment to the revitalization of South Orange Village. Kislak brokered Ayuso’s $2.2 million purchase of a 0.489-acre redevelopment parcel encompassing 110-120 West South Orange Avenue and 10 Church Street – which is just across South Orange Avenue from The Gateway, EEA Industries’ highly acclaimed mixed-use luxury apartment and retail complex.

Ayuso was represented by Joni Sweetwood, a senior vice president and sales associate at Kislak, with whom he had worked on previous deals. Another Kislak sales associate, Julie Gralla, represented the seller – the two met and worked together on a prior deal when Gralla represented both parties. Coincidentally, Sweetwood, an established leading producer, and Gralla, a rising star, are mother and daughter.

Kislak has strong connections with South Orange, and is proud to be working with Ayuso and others in the redevelopment of the village. Sweetwood and Gralla lived there for many years, as did the late Sima Kislak Jelin, longtime vice president of Kislak.

“It is wonderful to work with Ed and to play a role in the resurgence of South Orange,” said Sweetwood. “He is truly a pioneer and his vision and dedication are transforming the village. We look forward to more exciting projects in the future.”

Sweetwood previously represented Ayuso in the purchase of the land on which The Gateway was developed, and in the purchase of two Church Street properties that were successfully redeveloped and sold as condominiums.

Ayuso noted he has been working with Kislak since his first South Orange project in about 2001, and he had high praise for Joni, Julie, Kislak president Rob Holland, and the Kislak team.

“Joni is very professional, focused and thorough, and they are all very personal in their approach,” Ayuso said. “They get involved and really care about the people, not just the deal. Kislak understands that when we all work together – brokers, developers, the village and the community – everyone benefits.”

With The Gateway’s residences already 50 percent leased and its retail space 90 percent leased, it is clear Ayuso’s projects continue to be popular and well-received.

“The market is great, people love the product and we want to give them more,” Ayuso said. “We are working with the village and New Jersey Transit as we continue the transformation of the downtown, and we are eager to see what deal Kislak will bring us next.”

The importance of community, loyalty and service are keys to success Gralla learned from her mother and her Kislak colleagues.

“At Kislak, we believe in and live in the communities where we work,” said Gralla. “I think that sets us apart. Those roots and connections take us beyond making deals to making our communities better places to live.”

About EEA Industries
EEA Industries was founded by Edward E. Ayuso II in 1991. In partnership with Soundview Real Estate Partners, EEA Industries developed more than 6 million square feet of property valued at over $6 billion. Projects include ground-up construction, condominium conversions and property management. EEA Industries is currently partnering with SWH Residential and developing over $75 million in ground-up construction. EEA’s strong commitment to investing in Essex County is a key driver in the development and continued revitalization of South Orange, N.J. – a suburban municipality in the New York Metropolitan Area.

About The Kislak Company, Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, N.J., is recognized as the dominant investment sales company serving the multifamily and retail markets. 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 25 professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania and Delaware.

Now in its 108th year, Kislak was among a select group of firms recognized as a 2013 Power Broker by CoStar Group, Inc. for multifamily sales transactions in northern New Jersey and this was the firm’s seventh consecutive recognition.  

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