NKF has completed the sale of shopping center Bayonne Shops in Bayonne, NJ outside of New York City, and 50 Lake Center Dr. in the Philadelphia suburb of Marlton, NJ. Totaling $11 million, the sale transactions were conducted via RealINSIGHT Marketplace, a live bid, multi-day sales platform.
The NKF team was led by Steven M. Schultz and John Howley, assisted by Tony Georgiev and John Daniels.
Bayonne Shopping Center (pictured) was acquired by a joint venture of Gallium Real Estate and Larken Associates for redevelopment into mixed-use retail and residential.
50 Lake Center, a Class A office building of over 88,000 square feet, was purchased by Twenty Lake Holdings. Built in 2006, the building is one of the newest office properties in the market.
“These centrally-located sites make both locations a wonderful choice for prospective tenants, and a worthwhile investment for the buyer,” said Schultz.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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