Elion Partners buys $30M industrial property in Elizabeth
JLL recently brokered nine leases throughout North Jersey totaling 18,000 square feet on behalf of Encino, California-based fast casual burger franchise BurgerIM, according to Real Estate NJ. JLL’s Marta Villa, Conor Ryan and Blake Shanaphy led a team from the commercial brokerage that represented landlords and franchisees for the chain in conjunction with Michael Asayag, president and CEO of Home Quest Properties. The franchisees reportedly signed 10-year leases in Bergenfield, Cranford, Elmwood Park, Englewood, Metuchen, Piscataway and Union. The Real Deal reported last year on BurgerIM signing a lease at Miami’s Hyde Midtown hotel, whose hospitality component was sold in early 2018 for $21.8 million. BurgerIM, whose new Union location will open in May, also has franchises in Florida, Nevada, Tennessee, Texas and Virginia. [RE-NJ]
