5-10-13

ISSUE HIGHLIGHTS Volume 25 Issue 9 May 10 - 23, 2013 Cushman & Wakefield inks $71m office sale

Financing completes sale of 232,000 s/f flex building in Orangeburg, NY New Jersey based Silver Arch Capital originates $8m loan to Ramland Holdings

H

ackensack, NJ — The vacant 232,000 s/f flex office/warehouse

the 3rd quarter of 2012 when this user’s operations at the Property were consolidated to another larger facility. The sellerMcKessonwas rep- resented by first vice president Marc Rampulla of CBRE Investment Properties . CBRE’s Ralph Haught and Jay O’Donnell collaborated with Rampulla in representing the seller in the transaction. Endurance had been pursu- ing this deal for close to a year and was ultimately able to acquire the property at a very attractive price, significantly below replacement value and not far above land value, re- flective of the company’s ag- gressive pursuit of functional assets offering value-add op- portunities in primary and secondary industrial markets. Endurance is investing capital up front to enlarge the loading docks, install new dock doors with full packages, replace the parking lot, revamp the office space and upgrade the landscaping. n Wolfer. “Just 25 miles from Manhattan, it is located in ‘the donut,’ a 30-70 kilometer circle around New York defined as the hottest location for data centers serving Wall Street. The property’s location and proposed redevelopment as a data center made this financing opportunity particularly compelling.” Situated on 33 acres, the 232,000 s/f, 1 Ramland Rd. was constructed in 1999 and renovated in 2004. The site has an abundance of power with a three-year plan to upgrade Orange & Rockland Utilities’ power grid, as well as an abun- dance of fiber. One of Verizon’s data centers is situated less than a mile away. “All of these factors sup- port Ramland Holdings’ goal of successfully repositioning the property as a multi-tenant data center,” said Wolfer. n

building at 1 Ramland Rd. i n Orange - b u r g , N Y with a trou- bled history that included f o r e c l osur e by or i g inal lender M&T

Jeffrey Wolfer

1 Ramland Rd. in Orangeburg, NY

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specializing in providing bridge loans outside of traditional sources. Says Silver Arch presi- dent and CEO Jeffrey Wolfer , “We saw the merit of the deal immediately based on the prop- erty condition, location and the resumes of the principals.” For 1 Ramland Rd., the fu- ture is rebirth as a data center – Ramland Holdings, LLC was formed to capitalize on tenant- driven data center opportuni-

bank and subsequent acquisi- tion by Chesapeake Associates, has recently sold. The buyer in the latest $12.25 million sale, Ramland Holdings, LLC, was formed by The Martin Grp., a national data center construc- tion firm, to take advantage of just such opportunities. To complete the purchase, Ramland Holdings turned to Silver Arch Capital Part- ners of Hackensack,, a lender

ties. With extensive industry relationships, its founding executives are able to focus on acquisition, development, and redevelopment projects in areas where data center users are most active in driving com- mercial real estate demand. “This property has excel- lent proximity within the New York metro market, situated just nine miles from the NYSE data center, for example,” said

Hawley Realty Inc. sells office for $2.325 million

CBRE Investment Properties negotiates 120,200 s/f transaction Endurance affiliate announces warehouse, distribution acquisition totaling $4.15 million

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Landover, MD — An affiliate of Endurance Real Estate Group, LLC , (“En- durance”) announced the acquisition of 7721 Polk St., a 120,200 s/f warehouse/distri- bution building. The currently vacant property was acquired for $4.15 million or $34.52 psf. Situated in the Ardmore- Ardwick Business Park, one of the premier industrial parks

24th Annual

Conference & Expo May 21- 23, 2013

Section D

Directory

Upcoming Spotlight Industrial/Distribution Centers Auctions........................................ 4-5A DelMarVa.................................... 7-10A Financial. .................................. 13-15A Central NJ Spotlight..................... 5-12B PA Project/Bldg. Services Spotlight. 5-11C

7721 Polk St. in Landover, MD

in Suburban Maryland, the Property is one of only a few vacant spaces offering greater than 100,000 s/f in the highly sought-after, infill DCMetro in- dustrial market. The property is situated just minutes from Washington, DC and ½ mile from the interchange of Inter- state 495 (the Capital Beltway) and Route 50, two of the most heavily traveled thoroughfares in the region. The Property

also offers convenient access to Interstate 95, the primary north/south distribution route for the eastern United States, as well as Interstate 295, a ma- jor north/south thoroughfare connecting theWashington, DC and Baltimore markets. The Property was construct- ed in two phases, in 1972 and 1988, and was continuously occupied by McKesson phar- maceutical since 1992 through

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