38D — March 2024 — The Best of 2023 — M id A tlantic Real Estate Journal www.marej.com The MOST UNIQUE DEVELOPERS PROJECT of 2023 MRA GROUP Prelude Building at CRISP Wilmington, DE Crow Holdings Development Crow Holdings at Carteret Carteret, NJ BNE Real Estate Group The Ivy Chatham, NJ
Size: 1.2 MSF Closing an 18 months-to-market development cycle, CHD completed its Crow Holdings at Carteret campus in mid-2023 and welcomed its first tenant, Weida Freight System, in the fall. The world-class, 1.2-MSF W/D property sits on 126 acres less than ½ mile (one traffic light) off NJ Turnpike Exit 12, just 13 miles from Port Newark-Elizabeth; it boasts the closest turnpike interchange access of any new industrial product constructed within the past decade. The delivery of this thoughtfully designed and executed campus – with availabilities starting at 150,000 s/f – is a credit to public/private partnership, punctuated by an in-place, 30-year PILOT agreement.
Size: 562,372 s/f BNE Real Estate Group introduced a striking new residential community to the Borough of Chatham in December. Named The Ivy, the community delivers 245 luxury rental residences and more than 34,000 s/f of indoor and outdoor amenities to renters. The Ivy serves as a symbol of residential elegance and sophistication, introducing a new housing type to Chatham while also honoring the borough’s time-honored ambience and traditions. The Ivy’s elevated design draws inspiration from Chatham’s refined lifestyle as well as five-star resorts from around the world, effortlessly combining sophistication with comfort to appeal to discerning residents’ tastes and preferences.
Size: 101,876 s/f Prelude Therapeutics, a cancer drug development firm, signed a 13.5-year lease agreement to occupy the former Building 709 at MRA Group’s Chestnut Run Innovation & Science Park. Building 709 was demolished down to its steel structures, and then completely renovated into state- of-the-art laboratory and office space including conference rooms, collaborative workspaces, and communal areas for staff. Development included replacing the entire brick façade with large glass panels to create a visually appealing exterior and allow natural light flow, as well as the fit out and installation of complex equipment with instruments to handle biological research on the molecular level.
The DEVELOPERS TOP PROJECT of 2023
THE KRE GROUP Beacon Hill Marlboro, NJ
Accurate Citizen Little Falls Little Falls, NJ
JLAM Governors Lewes, DE
Size: 47 Acres Developer KRE Group introduced Beacon Hill to the market in December, delivering 285 modern luxury rental residences to Monmouth County, NJ’s Marlboro Township. The residences are housed in 14 separate three-story garden apartment buildings rising on a park-like, 47-acre property. Residents enjoy spacious, new construction residences and an array of amenities and services designed to appeal to today’s sophisticated renter. The property’s name pays homage to its ties to Revolutionary War history. A 4,000 square-foot club- house will soon open, offering a variety of resort-style amenities. Outside, open-air amenities will include a pool, sundeck, fire pits, grills, bocce courts, a playground and a dog park.
Size: 185 Units Accurate’s Citizen brand of luxury apartments reached new heights in 2023, including the debut of Citizen Bayonne, Citizen Bound Brook and Citizen Little Falls. At Citizen Little Falls, Accurate celebrated the opening of a 185-unit luxury rental community in June, just a short walk from the Little Falls train station and downtown shopping and dining. The community introduces a new caliber of rental housing to the Township of Little Falls, complementing municipal efforts to energize its downtown core through new housing stock, new businesses and transit-friendly features. Renters enjoy plush interior spaces and upscale amenities that include landscaped outdoor courtyards, a state-of-the-art fitness center, a business center and an expansive lobby lounge
Size: 118 Acres, 423 Units Rehoboth Beach-based boutique real estate investment and development firm JLAM went with an adventurous and appealing design for Governors, its luxury residential development in Lewes, DE. This premier community in Coastal Delaware boasts 423 high-end residential homes, which include 287 single-family homes and 136 town- homes. It features exciting amenities like a resort-style pool with a lazy river, island bar, hot tub, and splash zone with waterslides & fountains; outdoor fireplace; fitness center; grand clubhouse; bike trails with access to the Junction & Breakwater Trail; and pickleball/tennis courts. Governors was launched in 2018 as a place where people want to be, and this was proven true by it selling out in 2023, five short years after sales began.
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