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EWBERRY, PA — Goodman Group has kicked off con- N Two-building logistics campus that will total over 1.8 million s/f Goodman breaks ground at its latest logistics center inNewberry, Central PA
ISSUE HIGHLIGHTS Volume 30, Issue 19 October 12 - 25, 2018 PROCIDA FUNDING’S 100 MILE FUND TOPS $500M IN LOAN ORIGINATIONS
struction works for a two- building logistics campus that will total over 1.8 million s/f – Goodman Logistics Center Newberry. The new site of- fers customers a unique op- portunity to build a modern logistics warehouse to suit their needs, in this premium location. Located adjacent to Exit 35 and fronting Interstate 83, Goodman's latest develop- ment provides strategic ac- cess to the Port of Baltimore, NewYork / New Jersey, Phila- delphia and Washington D.C. Anthony Rozic , CEO of Goodman North America said: "Newberry is located within one of the premier in- dustrial real estate markets in the US given its affordable cost of living, large labor pool, and high consumption of goods within its own bound- aries. In addition, Goodman
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Goodman Logistics Center Newberry is one of a number of projects in Goodman's cur- rent US$2.6 billion develop- ment pipeline, which will pro- vide 18.3 million s/f of Class A logistics space in the key lo- gistics and industrial markets of Inland Empire, Greater Los Angeles, Northern New Jersey, Lehigh Valley and Central Pennsylvania. Over the last twelvemonths, Goodman Logistics Center Newberry
ROCKFORD CAPITAL PTRS . ACQU I RES 100,632 S/F BUILDING
Logistics Center Newberry's location means that it offers strategic access to 40% of the nation's population while of- fering freeway frontage for customers." Construction for both on- site and off-site infrastructure has now commenced, and the site will be ready to start building by December 2018. With construction due to com- plete in Q3 2019.
Goodman has completed 5.5 million s/f of class A develop- ment product in these key logistics markets, with a fur- ther 1.9 million s/f currently under construction. This is consistent with Goodman's on- going commitment to servicing the needs of its national and global customer base through the development of modern, well-located properties for long-term ownership. more space) with drive-in loading and available park- ing, allowed us to fully lease the building in less than 9 months,” Myers commented on the velocity with which full occupancy was attained. Prospective tenants were attracted to the property in part because of the new construction, ample parking, and smaller square footages. The tenant base businesses include: inventory storage, electrical contracting, ma- chine shop, logistics, and distribution. Additionally, many of the tenants are lo- cal and wanted a location in close proximity to where they live. Located directly off Route 10, accessible from both east and west bound lanes, the property is near big box stores and less than 1.5 miles from a new retail center, The Corner at Liv- ingston Circle.
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MAREJ EVENTS October 17, 2018 Delaware CRE Forecast Conference
Myers & Ritschel of Newmark Associates manage leasing of 30 industrial flex units in Livingston, NJ
October 18, 2018 Philadelphia CRE Forecast Conference For speaking and sponsorship information, please contact: Lea at 781-740-2900 or [email protected]
LIVINGSTON, NJ — Newmark Associates an- nounced the recent comple- tion of fully leasing 30 indus- trial flex units at 7 Industrial Parkway in Livingston. Deborah Myers , manag- ing director/broker-associ- ate, and Charles Ritschel , senior sales associate, man-
Directory Financial Digest................................................. 5-8A DelMarVa.........................................................9-11A Insurance/ Title Spotlight...............................14-15A Business Card/Billboard Directory.......................19A Organization Events. ...........................................20A New Jersey................................................. Section B Southern New Jersey. ......................................5-11B Pennsylvania.............................................. Section C Southeastern PA. .............................................5-10B www.marejournal.com
7 Industrial Parkway in Livingston
aged the leasing of the build- ing on an exclusive basis for the building owner with whom Newmark Associates has had a successful, long- standing relationship for over 20 years. Myers represented the owner when he originally bought the property and has completed many other transactions with him. Ownership constructed the 41,250 s/f building from the
ground up on 5 acres of land in a modern and functional design. The building con- sists of 1375 s/f units, each including a small office area, bathroom, open warehouse space, and drive-in door loading. “With the Industrial/Flex market being a highly ‘in demand’ asset class, having newly constructed smaller units (with the ability to as- semble additional units for
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JUST LISTED - FOR SALE The Village at Upstream Farm Investment Offering Ground Lease
Pinewoods Association, LLC is offering for sale approximately 26 acres of land together with a 99 year ground lease with 82 years remaining containing a 55+ community in Forks Township, Northampton County. The Lessee is The Village at Upstream Farm Condominium Association. The development is comprised of 124 one and two-bedroom condominium units with garages. The ground lease began in July of 2001 and terminates on August 31, 2100 at which time the lessee has an option to purchase the property for $1.00.
• Monthly rental income: Pure NNN • Ground Lease with no landlord responsibilities • Annual increases at CPI not to exceed 5% per year • Homeowners association pays all costs of maintenance and capital repairs to the property • Clubhouse is included as part of the fee simple sale • Condominium Association has capital reserves for property upgrades and repairs • Potential for future property management • Condominium Association has never missed a payment
For additional information and a full investment package, please contact: Cindy McDonnell Feinberg at 610-709-6231 Gregg M. Feinberg at 610-709-6233 1390 Ridgeview Dr., Suite 301 This unique investment opportunity is offered at $10,995,000.00
Allentown, PA 18104 www.feinbergrea.com
Real Estate Journal — October 12 - 25, 2018 — 1A
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COLLABORATIVE CULTURE RELATIONSHIP FOCUSED DEFINED EXPERTISE
CVS Middletown, NJ $11,776,500
Chase Bank Middletown, NJ $4,250,000
Downtown Mall Meadville, PA $7,564,743
CVS Cambridge, MA $21,127,560
CVS New Bedford, MA $1,439,541
Advance Auto Parts Chilhowie, VA $1,439,541
Panera Bread Clarksburg, WV $1,583,000
Applebee’s Sarasota, FL $5,072,176
Advance Auto Parts Brockton, MA $1,852,920
Closed $4,000,000,000 in Recent Transactions
Transactions 1,000+ in 36 States
Ranked #1 Industry Leading Firm
Ethan Cole, FL Broker of Record, License BK3382287, PA Broker of Record, License RMR003168 | Katherine Jane Scott, WV Broker of Record, License 04491 David Dworkin, LLD Enterprises LLC, NJ Broker of Record, License 9132520 | DZ Net Lease Realty, LLC, VA Broker of Record, License 226025277
www. Ho r v a t hT r emb l a y . com Main: 781-776-4000 | Fax: 781-823-0245 | [email protected]
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Mid Atlantic Real Estate Journal
Mid Atlantic R eal E state J ournal Publisher, Conference Producer . .............Linda Christman AVP, Conference Producer ...........................Lea Christman Account Executive ........................................... Steve Kelley Account Executive ............................................. Kim Brunet Account Executive ........................................ Marisol Chase Senior Editor/Graphic Artist ..........................Karen Vachon Office Manager ...............................................Kerrin Devine Contributing Columnists ...................................Mike Harris Mid Atlantic R eal E state J ournal — Published Semi-Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, 350 Lincoln St., Suite 1105 Hingham, MA 02043 USPS #22-358 | Vol. 30, Issue 19 Subscription rates: $99 - one year, $148 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion 781-740-2900 | Fax: 781-740-2929 www.marejournal.com
Recently Closed Loans
Showroom-Like Stores Could Overthrow The Ba- sis For Retail Rents, Writes Cremodels Executive I Mike Harris f present trends continue, retail rents might one day be based on traffic and customers rather than tradi- tional metrics such as sales per square foot or percentage rent, observes Mike Harris, Manag- ing Director of CREModels, in a new column for Forbes.com. “E-commerce is transforming retail real estate and yet the most drastic changes may still be ahead,” writes Harris, whose CREModels provides financial modeling, due diligence and technology consulting. In the Aug. 14 column for Forbes.com (“From Stores To Showrooms: Evolving The In- Store Experience And Un- derwriting Practices”), Har- ris notes that landlords like Macerich and CBL Properties are increasingly cultivating relationships with the types of digitally native retailers that tend to open showrooms—the likes of Casper, Warby Parker, thredUP, Adore Me, Everlane and UNTUCKit. They are also ramping up the customer and property >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68
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