Data Loading...
- DC
N 38 buildings totaling 3.6 million s/f occupy prime infill market Cushman & Wakefield arranges Long Island industrial portfolio interest sale
ISSUE HIGHLIGHTS Volume 30, Issue 5 March 16 - 29, 2018 2018 Regional Conference of MBAs
Long Island boasts a popu- lation of 5,632 persons per square mile and average household income of $124,770. “Within this context, many of these buildings are ideally situated for conversion based on their locational attributes,” Palmese said. “For example, those proximate to train sta- tions could be adapted for retail or multifamily, and others could be repurposed for in-demand medical uses. Several of the properties have excess land for dedicated park- ing, which could be subdivided and sold as hotel or retail pad sites.” The East Rutherford, NJ, investment sales group spe- cializes exclusively in office, industrial, multifamily, land and retail property trades throughout New Jersey, New York, and Fairfield County, Conn. The teamhas completed $27 billion worth of transac- tions since 2000, closing over $2.2 billion in sales in 2017. n development projects inMarket East include Fashion District Philadelphia located directly below the property, as well as East Market and the Lits Brothers Building. Scheduled to open in the fourth quarter of 2018, Fash- ion District Philadelphia (for- merly The Gallery) will be the largest retail development in downtown Philadelphia, encompassing 840,000 s/f of shopping, food and entertain- ment destinations including an eight-screen AMC Theatre, Century 21, and the largest H&M in Philadelphia. The property also provides direct access to SEPTA’s Jefferson Station, and is within walking distance to Reading Terminal Market and the Pennsylvania Convention Center. Confirmed East Market retail tenants include an Iron Hill Brewery & Restaurant, City Fitness, Columbia Sports- wear, T.J. Maxx/Home Goods, and Federal Donuts. n
ASSAU AND SUF- FOLK COUNTIES, NY — Commercial real estate services firm Cush- man & Wakefield provided advisory services in the recent sale of a 50% interest in a 3.6 million s/f, 38-building indus- trial portfolio in Nassau and Suffolk Counties. A team of investment sales specialists based in East Rutherford, NJ, and Queens, NY, represented the ownership – a joint venture of FBE and Cammeby’s – in the $135 million transaction. Located throughout Nassau and Suffolk Counties, the port- folio is close to 90% occupied by tenants including Summit Plastics, Sam Ash, Ultimate Precision Metal, Luminance and Newsday, among many others. It includes a mix of industrial, office and R&D properties with varying lev- els of office finish, and clear heights ranging from 14 to 28 feet. The structures were developed between 1955 and
5-8A
Lee & Associates Md brokers sale of 135,000 s/f whse.
Long Island industrial portfolio
2000; many of the properties feature substantial renova- tions and upgrades, and con- tinued innovation is planned by the portfolio’s newmanager – Milvado Property Group – which features a dynamic, experienced team that is at the forefront of commercial real estate in the region. “This is a distinctive portfo- lio in a densely populated, af-
fluent market,” said Cushman & Wakefield’s Gary Gabriel , who headed the assignment with Andrew Merin, David Bernhaut, Kyle Schmidt, BrianWhitmer and Stephen Palmese . “The buildings all are well-located for last-mile and e-commerce distribution capabilities throughout Long Island and the five boroughs of NYC,” added Schmidt.
Section D
20A
MAREJ Events March 29, 2018 New Jersey Industrial Real Estate and Development Conference
Thor Equities acquires first property in Philadelphia, Pennsylvania for $41.8 million
April 26, 2018 New Jersey Office Conference
Philadelphia, PA — Thor Equities has closed on the acquisition of a three-story office condominium at 907 Market St. in Philadelphia for $41.8 million. The 214,000 s/f property is fully leased to Health Partners Plans, a not-for-profit health maintenance organization
For speaking and sponsorship information, please contact: Lea at 781-740-2900 or [email protected]
Directory
Upcoming Spotlights Best of 2017 Multifamily featuring POA Expo CCIM PA/NJ/DE Organization.....................................IC-A Financial. ................................................................ 3-27A 1031 Exchange...................................................... 11-15A DelMarVa.............................................................. 19-22A New Jersey.........................................................Section B Northern NJ............................................................ 7-14B Pennsylvania......................................................Section C Central PA............................................................... 7-14C
907 Market St. in Philadelphia
serving more than 280,000 members in Southeastern Pennsylvania. “907 Market Street is a high quality asset located in the heart of Market East, the
fastest growing neighborhood in Philadelphia’s burgeoning City Center district,” said Joseph Sitt , CEO of Thor Equities. Retail, residential and office
www.marejournal.com
www.marejournal.com Real Estate Journal — PA/NJ/DE CCIM Chapter — March 16 - 29, 2018 — 15A
Inside Cover A — March 16 - 29, 2018 — M id A tlantic www.marejou nal.com
Real Estate Journal M id A t Antic
Questions? Contact PA/NJ/DE CCIM Chapter Director Jennifer Shockley at 717-614-4271 or email [email protected]
2018 PA/NJ/DECCIMCHAPTER OFFICERS Jeffrey Hoffman, CCIM President JPH Realty Advisors PhilipEarley, CCIM Vice President Lieberman Earley & Company Charles Swope, Jr., CCIM Secretary Swope Lees Commercial RE Eric Gorman, CCIM Treasurer & Immediate Past President Cushman & Wakefield 2018 PA/NJ/DECCIMCHAPTER DIRECTORS John Birkeland, CCIM Chair, Central PA ROCK Commercial Realty Gregg Broujos Chair, Pittsburgh Region Colliers International David Church, CCIM Chair, New Jersey DL Commercial Real Estate Michele Countis, CCIM Jackson Cross Partners Jonathan Epstein, CCIM Berger-Epstein Associates, Inc. Cindy Feinberg, CCIM Chair, Lehigh Valley Feinberg Real Estate Advisors Craig Fernsler, CCIM Chair, Delaware NAI Emory Hill Jeff Kurtz, CCIM High Associates, Ltd. Laura Martin, CCIM, CPM, WBE Latus Commercial Realty Melissa Meyer, CCIM Brandywine Realty Trust Tom Skeans, CCIM SVN KW Commercial, Blue Bell Neil Kilian, CCIM, SIOR
Instructor: Ben Wilson Thursday, March 22, 2018 9:00 a.m. – 3:00 p.m. East Stroudsburg University Lehigh Valley Center Site To Do Business (STDB) Training
Instructor: Bill Overman, CCIM June 25-28, 2018 CI 101: Financial Analysis for Commercial Investment Real Estate 1427 West Liberty Ave., Pittsburgh, PA CI 101 will provide you with a foundation of practical financial analysis skills you need to succeed in the remaining curriculum and in the field. CI 101 introduces the CCIM Cash Flow Model, a tool for ensuring your investment decisions are based on wise finance fundamentals. The course also teaches key financial concepts in order to compare different types of commercial real estate investments. Cost : Member: $1,145 | Realtor ® : $1,390 Non-member: $1,650 Register at www.ccim.com Realtors ® Association of Metropolitan Pittsburgh
60 West Broad St., Bethlehem, PA, 18018 The Site To Do Business (STDB) is a veteran market leader in commercial real estate demographics. Using STDB provides commercial real estate professionals the reliable and singular source for real estate analytical tools such as demographic >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 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76
Made with FlippingBook - Online catalogs