S HOPPING C ENTERS N EW J ERSEY
Mid Atlantic Real Estate Journal — New Jersey — Section B
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RIDGEWATER, NJ —A joint-venture part- nership of Advance Jones Lang LaSalle, JM Zell Partners & NorthMarq Capital participate in transaction Advance Realty acquires 1.2million s/f former Sanofi research/dev. campus in Bridgewater B
that it meets the market’s needs,” Advance Realty presi- dent and CEO Peter Coco- ziello said. “We look forward to collaborating closely with local officials as we develop a plan for the site that fits into Bridgewater Twp.’s and Som- erset County’s comprehensive economic development strat- egy. We are confident we will be able to position it in a way that will make it attractive to a wide range of tenants.” A Jones Lang LaSalle team led by managing director Dan Loughlin represented Sanofi in the transaction, while Advance and Cross- Harbor were represented in- house. JMZell Partners also advised Sanofi. Gregory Nal- bandian, a senior vice presi- dent and managing director with NorthMarq Capital , represented Advance in the formation of its joint venture with CrossHarbor. ■
Realty and CrossHarbor Capital Partners, LLC , today announced that it has acquired the former Sanofi U.S. Research and Develop- ment Campus. Encompassing 1.2 million s/f of lab, office, and GMP production, the campus, which is currently home to Amneal
Center of Excellence
MAY 10 - 23, 2013
Pharmaceuticals andAshland Specialty Ingredients, will be branded as the New Jersey Center of Excellence. “The former Sanofi U.S. Research and Development Campus is a jewel of Bridge- water and one of the most dy- namic properties in the State of New Jersey,” Bridgewater Twp. Mayor Daniel Hayes, Jr., said.
Advance Realty, which is currently based in neighbor- ing Bedminster, will relocate its headquarters to the cam- pus. Additionally, the new owners are exploring the possibility of redeveloping a portion of the property into a mix of uses. “Our first task will be to con- tinue to evaluate the proper- ty’s master plan to make sure
HI-LIGHTS
Cushman & Wakefield inks 320,274 s/f, $71m office sale
Cushman & Wakefield, Inc. has completed the $71 million sale of a 320,274 s/f, class A office building at 445 South St. The sale price fac- tors out to more than $221 per square foot. See page 2B.
Renshaw, Georges rep seller and the buyer, Gladstone Cos. StanJohnsonCo. completes $5.65m sale of Atlanticare Data Center
Leases bring Berger’s Military Park to full occupancy
EGG HARBOR TOWN- SHIP, NJ — In a transaction that highlights the fast-grow- ing popularity of mission criti- cal data centers among real estate buyers, Stan Johnson Company , one of the nation’s premier net lease brokerage firms, has structured the sale of a key facility 100 percent leased to AtlantiCare Health System, Inc. The property, located at 6725 Delilah Rd., sold for $5.65 million after a heated bid process due to its high quality real estate, strong credit tenant, and long- term lease that featured 11 years remaining. “Data centers are becoming smaller, more energy efficient, and more mission critical as cloud technologies evolve and the size of equipment shrinks,” said Camille Ren- shaw, director and lead broker
A series of leases at The Berger Organization’s Military Park Building has brought the 250,000 s/f office property to full occupancy. Berger’s in-house team nego- tiated the latest transactions. See page 4B.
ALSO INSIDE:
C ENTRAL N EW J ERSEY S POTLIGHT ........................5-12B
P EOPLE ON THE M OVE .............................................14B
6725 Delilah Road
in Stan Johnson’s New York City office. “The mission criti- cal aspect of the real estate, coupled with the geographical importance of the site, ap- peals strongly to institutional buyers as they expand in the
data center sector.” Camille Renshaw and Tom Georges of Stan John- son Company represented the seller, a private developer, and the buyer, Gladstone Cos. ■
ICREW NJ O RGANIZATION .....................................16B
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