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AYONNE, NJ — JMF Properties, RD Man- agement LLC , and B Joint venture partnership includes Accurate Builders & Developers JMFProperties&RDManagement close on 14-acre site at Bayonne’s MOTBY a 150,000 s/f facility at Harbor ViewMarketplace, and operate a Costco Gasoline gas station with 18 gas pumps.
ISSUE HIGHLIGHTS Volume 30, Issue 21 November 9 - 22, 2018
SPOTLIGHTS
Accurate Builders and De- velopers announced that the joint venture partnership has closed on a 14-acre site on the former Military Ocean Ter- minal at Bayonne (MOTBY). The closing paves the way for the development of 651 luxury rental residences. A fall groundbreaking is planned for the property, which is located on the southwest por- tion of the terminal peninsula, along Goldsborough Dr., with views of the Bayonne Golf Club across an inlet of New York Harbor. The rental residences will be housed in two five-story buildings which include an 820-space enclosed parking ga- rage. The community will also feature 25,000 s/f of lifestyle amenities, including a rooftop resort-style swimming pool that overlooks the golf course. The notable acquisition al- lows JMF Properties and RD
The remainder of the retail property comprises 100,000 s/f. It will include well-known stores and restaurants, as well as outdoor seating. Visitors will be able to spend the day shopping, dining al fresco, and strolling waterfront walkways that offer tranquil views of New York Harbor and the lush roll- ing hills of the Bayonne Golf Club’s Scottish links-style golf course. “With Costco Wholesale as the anchor, and now 651 resi- dential units coming online within walking distance of the retail center, Harbor View Marketplace is one step closer to becoming the living and shopping destination JMF Properties and RD Manage- ment have been working hard to create,” said Richard Birdoff, principal and president of RD Management. area market’s standard of 36’, positioning this facility well for warehouse/distribution and manufacturing uses. “We have always strived to be ahead of the curve, and the 40’ clear ceiling height is just one more added value our future tenants will appreciate and take advantage of” said Jamie Herring , principal of Herring Properties , the developer of BCC. Bristol Commerce Center is located in a designated Key- stone Opportunity Expansion Zone (KOEZ) through 2022. The KOEZ designation pro- vides substantial financial tax abatements to businesses look- ing to relocate or expand in the area. Occupants will not only be afforded KOEZ benefits, but also the newly opened intercon- nection of the Pennsylvania Tpke. and I-95. Current ten- ants include XPO Logistics and AirGas Corporation.
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Military Ocean Terminal in Bayonne, where JMF Properties, RD Management LLC and Accurate Builders and Developers will soon build 651 luxury rental residences overlooking the Bayonne Golf Club.
LENDER’S DIRECTORY SECTION D CENTRAL NEW JERSEY 5-12B
Management to expand their significant role in the overall redevelopment of the 103-acre peninsula that juts out into New York Harbor. A former base for both the Army and the Navy, MOTBY is now be- ing transformed into a mixed- use waterfront destination comprising residential, retail, restaurants, commercial and
recreation. JMF Properties and RD Management are also developing 240,000 s/f of retail space, with Costco Wholesale as the anchor and a number of prominent retail operators already under lease. The JMF/RD Management partnership announced the lease signing of Costco Whole- sale in May. Costco will occupy
MAREJ EVENTS November 29 New Jersey Medical Properties Conference December 11 Philadelphia Capital Markets Conference For speaking and sponsorship information, please contact: Lea at 781-740-2900 or [email protected]
Herring Properties to develop facility located in a designated KOEZ in Bristol Twp., PA Colliers announces new speculative industrial development to commence construction at the BCC
BRISTOL TWP., BUCKS COUNTY, PA — Bristol Com- merce Center (BCC) announced construction will soon com- mence on a new 248,500 s/f speculative industrial facility on 20 of the park’s 81 acres. The ESFR sprinklered build- ing will be ready for occupancy
Directory DelMarVa.......................................................... 3-6A Business Card/Billboard Directory............... 24-IBC-A Organization Events. ...........................................22A New Jersey................................................. Section B Central New Jersey...........................................5-12B Pennsylvania.............................................. Section C Financial Digest featuring Lender’s Directory... Section D www.marejournal.com
Bristol Commerce Center aerial
Q2 2019. This move comes at a time when demand is feeling the pressure from a variety of sources including growth in e-commerce and last mile de- liveries closer to the inner-core. But supply has not kept pace - tenants are getting frustrated with the lack of available space
for lease and user-owners are also faced with a lack of quality buildings to purchase. Recent Colliers market statistics show the second quarter 2018 vacancy rate in the Bucks County market is under 4%. Additionally, the new facil- ity will feature heights of 40’ clear height, which is above the
Inside Cover A — November 9 - 22, 2018 — M id A tlantic
Real Estate Journal
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