Bloomfield, NJ office complex sells for $52M

first_img Tags Message* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Brad Domenico of Progress Capital arranged a $40 million acquisition loan for the buyer, and Natixis Real Estate Capital was the lender.Progress Capital said the buyer was particularly attracted to the property’s location, which is just off the Garden State Parkway. The office park recently got several upgrades, including new parking lots, and has tenant amenities such as a lounge and fitness center.Like other regions, New Jersey’s office market has been severely affected by the pandemic. The availability rate in the first quarter climbed to 21.6 percent, up 4 percentage points compared to the same time last year, according to a report from Avison Young New Jersey.But office properties are still selling. Most recently, Mack-Cali Realty sold its Short Hills, New Jersey, office portfolio to the Birch Group for $255 million.Contact Akiko Matsuda Progress Capital partner Brad Domenico and Broadacres Office Park (Photos via Progress Capital)An office complex in Bloomfield, New Jersey, sold for $52 million in an off-market transaction.ERCT Capital Group, a real estate investment firm based in Montclair, New Jersey, bought the four-building campus from P3 Properties, who paid $31 million for the property in 2017, according to public records. ERCT Capital was not immediately available for comment.The Broadacres Office Park spans 398,000 square feet across three buildings at 200, 300 and 400 Broadacres Drive, and an additional one at 1455 Broad Street.Read moreMack-Cali sells Short Hills, NJ office portfolio for $255MDifferent state, same problem: Office availability soars in NJMack-Cali Realty sells Metropark complex for $254ME Full Name* Share via Shortlink Email Address* New Jerseyoffice markettri-state weeklylast_img read more

Duke ‘looking into’ claims Nike paid Zion Williamson’s mother

first_img Celebrity attorney Michael Avenatti charged with trying to extort millions from Nike Michael Avenatti releases documents alleging Nike paid top NCAA recruits The Chronicle reached out to Duke’s director of athletics Kevin White, who said the claims will be investigated like any other compliance matter. “We are aware of the allegation and, as we would with any compliance matter, are looking into it. Duke is fully committed to compliance with all NCAA rules and regulations,” White wrote in a statement. “Every student athlete at Duke is reviewed to ensure their eligibility. With regard to men’s basketball: all recruits and their families are thoroughly vetted by Duke in collaboration with the NCAA through the Eligibility Center’s amateurism certification process.”  ​ Related News Duke is “looking into” celebrity attorney Michael Avenatti’s claims that Nike paid Zion Williamson’s mother for consulting services while her son was one of the top high school recruits.According to a report from The Chronicle, the university was made aware of Avenatti’s allegation after a series of tweets Saturday morning linked to documents Avenatti says show “only SOME of the evidence showing Nike bribed players to attend ‘Nike’ colleges.”center_img He averaged 22.6 points and 8.9 rebounds per game and was named the Associated Press Player of the Year to cap of his season, which ended after the team’s Elite Eight loss to Michigan State on Sunday.​Avenatti, who was arrested last month for allegedly trying to extort more than $20 million from the sportswear company by threatening to release damaging information, also linked payments to associates of former Arizona star Deandre Ayton — who is now with the Phoenix Suns — Oregon’s Bol Bol and former UNLV player Brandon McCoy in the shared documents. Avenatti tweeted Friday night that Nike paid Williamson’s mom, Sharonda Sampson, for “bogus consulting services” as part of a “bribe” to get the Williamson to attend Duke. [email protected] – About this denial by Coach K the other day relating to payments by Nike…Can you please ask Zion Williamson’s mother – Sharonda Sampson – whether she was paid by @nike for bogus “consulting services” in 2016/17 as part of a Nike bribe to get Zion to go to Duke? Thx.— Michael Avenatti (@MichaelAvenatti) April 6, 2019Avenatti added shortly after, “I almost forgot – long day – @DukeMBB can you also have your close friends at @Nike check their Nike Vendor Portal for payments to “Sharonda Sampson Consulting”. Just search 2016 to the present. Appreciate it.”Williamson is the projected No. 1 pick in this year’s NBA draft after a head-turning freshman season for the Blue Devils.last_img read more