Congratulations to NAIOP NJ's 2023 Deal of the Year Finalists
Winners will be announced at the Commercial Real Estate Awards Gala, May 18, 4-9:00 AM, The Palace at Somerset Park. Learn more.
Monroe 8A Logistics Center – Home Depot, Monroe, N.J.: One of the largest warehouses in New Jersey, Monroe 8A Logistics Center, a 1.28 million-square-foot industrial development by Brookfield Properties, was able to secure – with the aid of JLL as its leasing team – a long-term lease with Home Depot, which was represented by CBRE. Involved in the deal: Brookfield Properties, JLL, Sansone, QuadReal, Colliers, and Apollo.
Bob Smith, Bob Smith and Associates; Tyler Mordas, Brookfield Properties; Justin Drysdale, Brookfield Properties; Ryan Milanaik, JLL; Dan Miola, Langan; and Jim Wyatt, ARCO Design/Build.
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Bridge Point 78 Phase II, Phillipsburg, N.J.: In October 2022, a multinational e-commerce and third-party logistics, publicly traded platform signed a 1.25 million-square-foot, long-term lease for the entirety of Bridge Industrial’s Class A development, Bridge Point 78 Phase II. This marked one of the year’s largest leases signed across the entire state. Involved in the deal: Bridge Industrial, Banner Oak Capital Partners, Teachers Retirement System of Texas, PGIM, CBRE, Cushman & Wakefield, Dynamic Engineering Consultants, LLC, GZA GeoEnvironmental, Inc., RC Anderson, LLC, Petillo, Inc., Excel Environmental Resources, Ford & Associates Architects, Law Office of Wanda Chin Monahan, Pearlman & Miranda, LLC, McManimon, Scotland and Baumann, LLC, Mayer Brown LLP, and Calli Law, LLC.
Jeff Milanaik, Bridge Industrial; Deven Schmitt, Bridge Industrial; William Bord, Dynamic Engineering; and Connor Milanaik, Bridge Industrial.
Samsung @ Linden Logistics Center, Linden, N.J.: In one of the largest transactions of the year, JLL represented Samsung in securing 735,220 square feet in New Jersey’s largest industrial park under development, at the footsteps of Port Newark/Elizabeth, from survey to lease execution in just two months. Involved in the deal: Advance Realty Investors, Greek Development, JLL, and CBRE.
Matt Schlindwein, Greek Development; Matt Astrachan, JLL; Robert Kossar, JLL; Bill Bumber, Advance Realty; and Chris Hile, JLL.
Englewood Health Consolidation/Expansion, Englewood, N.J.: A CBRE team was charged with finding 100,000 square feet of commercial space proximate to Englewood Hospital’s central location, in a supply-constrained corridor of the city that would also suit the clinical needs of Englewood Health in terms of scale, build-out potential and convenience for staff and patients. Involved in the deal: CBRE and Englewood Health.
Gregory H. Barkan, CBRE and Rémy P. DeVarenne, Jr., CBRE.
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101 Hudson, Jersey City, N.J.: This historic, $346 million sale represented New Jersey’s largest office trade in 2022 and one of the largest investor office trades in the state’s history. Executed during one of the most challenging capital markets environments, the sale was a monumental achievement in Veris Residential's (formerly Mack-Cali) eight-plus-year strategic office disposition plan. Involved in the deal: Cushman & Wakefield, The Birch Group and Veris Residential.
Chris Delorenzo, Birch Group; Mike Lyberatos, Birch Group; Mark Meisner, Birch Group; Marty Dowd, McCarter & English; Frank DiTommaso, Cushman & Wakefield (absent from photo).
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Avis Budget Group at Latitude, Parsippany, N.J.: Avis Budget Group relocated its world headquarters to Latitude, a state-of-the-art, 700,000-square-foot office complex owned by Vision Real Estate Partners and Rubenstein Partners. The creative office condominium transaction resulted in the retention of 600 New Jersey jobs and significant financial benefits to the occupier, owner, and the state. Involved in the deal: Vision Real Estate Partners, Rubenstein Partners, Newmark, CBRE, Charles Applebaum, Esq., Fox Rothschild, Greenbaum, Rowe, Smith & Davis LLP, and Giordano Halleran & Ciesla.
Steve Card, Rubenstein Partners; Jamie Drummond, Newmark; Charles Applebaum, Charles Applebaum Esq LLC on behalf of Vision Real Estate Partners; Sam Morreale, Vision Real Estate Partners; and Ryan McCarthy, Vision Real Estate Partners.
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Fiserv New Jersey HQ at Connell Corporate Center, Berkeley Heights, N.J.: Fiserv’s 411,954-square-foot, long-term lease at The Park was New Jersey’s largest new office lease in 2022. Fiserv’s financial technology hub, one of the largest on the East Coast, will bring together existing and future New Jersey employees as they collaborate and innovate in an inspiring workplace environment. Involved in the deal: Cushman & Wakefield, The Connell Company, Fiserv, VVA Project Management Company, GS Ferguson Group, LLC, Mancini Duffy, Ted Moudis & Associates, Structure Tone, Robert Derector Associates, and Husch Blackwell, LLP.
Robert Donnelly, Jr, Cushman & Wakefield. Presenting remotely: Kerry Wichert, Fiserv; Tricia Roe, Fiserv; Shane Connell, The Connell Company; and Duane Connell, The Connell Company.