The former Schaefer Salt Factory site in Union Township has a new owner.
RMS Cos. of Stamford, Conn. purchased the property for $6 million and is breaking ground on its first venture in New Jersey. The CBRE team of Jeffrey Dunne, Gene Pride, Jeremy Neuer, Eric Apfel and Zach McHale, along with colleagues Nat Gambuzza and Trevor Fiebel, represented the owner, Sherwood Group Associates, while also procuring the buyer, RMS Companies.
Located at 1255 Magie Ave., RMS plans to develop a 153-luxury rental apartment project consisting of 51 one-bedroom, 97 two-bedroom, and 5 three-bedroom apartments with an attractive amenity package.
1255 Maggie Ave., Union – LESSARD DESIGN
The compound will feature an in-ground pool, fitness center, yoga and spin studio, a fireside resident and entertainment lounge, a meditation room with a Himalayan salt wall, a children’s playroom, a multi-sport golf simulator, a game room and private coworking spaces.
The architect for the project is Lessard Design, an international architecture and planning firm.
“We are so excited to be expanding our operations into New Jersey and look forward to transforming this underutilized site into a lifestyle community with luxurious onsite amenities,” said Randy Salvatore, president and chief operating officer of RMS Cos.
Editor’s Note: This article was updated on July 14, 2020, at 10:00 a.m. EST to add the CBRE team that facilitated the transaction.
