Kushner Real Estate, Stro to develop 200K-sf industrial building

first_img Message* 1150 McBride Avenue in Woodland Park, New Jersey, and Stro Companies president Steven Millstein (Google Maps, Stro)Kushner Real Estate Group and the Stro Companies have closed on a 16-acre property in Woodland Park, New Jersey, and have approval to build a large industrial building.Murray and Jonathan Kushner (Hollwich Kushner)Developing the 205,000 square-foot, Class A building will require demolishing a slightly larger structure on the site, 1150 McBride Avenue. Construction is to begin this summer and finish in the first quarter of next year.ADVERTISEMENT“We are extremely excited to be partnering on another great project with KRE,” said Jack Shulman, director of leasing, acquisitions and capital markets at Stro, in a statement. “Quality development sites in infill locations are extremely scarce.”The property — formerly home to Kearfott Guidance and Navigation — is located where Interstate 80 and Route 46 intersect.Read moreBig-box space in NJ converted, leased to grocery wholesalerElion Partners buys $30M industrial property in ElizabethNew Jersey industrial portfolio trades for $43M Tags Share via Shortlink DevelopmentIndustrial Real EstateNew Jerseytristate-weekly Kushner Real Estate, a property investment and management company based in Jersey City, was founded in 1979 by Eugene Schenkman and Murray Kushner, the brother of Kushner Companies co-founder Charles Kushner.United Realty’s John Friedland and Mark Tannen represented the seller in the transaction.The property is a sizable addition to the portfolios of both KRE and Stro.An aerial of the propertyKRE’s multi-family holdings exceed 9,000 existing apartments, with another 7,000 in various stages of approval and construction. The company also owns and managesmore 6 million square feet of office, warehouse and retail space.Stro, founded by Steven Millstein in 1994, has more than 30 properties, comprising approximately 2.5 million square feet.Contact Sasha Jones Email Address* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Full Name*last_img read more

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