S hopping C enters N ew J ersey
Real Estate Journal — New Jersey — Section B
www.marejournal.com
M id A tlantic
729,000 s/f distribution center has undergone a $4m capital improvement program Woodmont Industrial Partners completes $28m sale of I-78 Logistics Center in Clinton
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for those with autism. The pool has a beach entry to provide easy access, and will help to promote coordination, mo- tor development and fitness. A water room will offer fun and therapeutic-sensory in- teraction with water, and the “Snoezelen Room” will offer a soothing and calming space. “Hollister is honored to help create such a unique facility, especially one that will benefit so many children in our re- gion,” said Jon Schoenleber , project manager of Hollister Construction Services. “This is an extremely rewarding proj- ect that advances our ongoing commitment to support the community through our work.” “The existing facility will undergo a complete gut re- hab so that we can create the individual components of LifeTown in a dynamic and completely realistic setting,” said Lance Blake , designing architect with Rotwein & Blake Associates . n grades to the space, coupled with the property’s strategic location along Interstate 78,” said Eric Witmondt , princi- pal of Woodmont Industrial Partners. “As we continue to expand our reach, this dispo- sition is a prime example of our strategy of capitalizing on new opportunities in New Jersey, Central Pennsylva- nia and the Lehigh Valley regions.” The I-78 Logistics Center, one of the largest distribution centers in the NJ/PA mar- kets, sits on a 100-acre tract of land located immediately off of exit 20B along I-78. The property is located just 40 miles west of the Ports of Newark and Elizabeth and in close proximity to New York City, Newark International Airport, the Lehigh Valley and Philadelphia. n
LINTON, NJ — Wo o dmon t I n - dustrial Partners
HI-LIGHTS JANUARY 16 - 29, 2015 (WIP) , a leading real estate development and investment firm, today announced that it has sold I-78 Logistics Center, a premier distribu- tion center located at 111 Cokesbury Road in Clinton, for a price of $28,066,500 ($38.50/psf). The sale of the 729,000 s/f facility, which WIP acquired in February 2012, comes
I-78 Logistics Center
on the heels of a $4-million capital improvement program that included the addition of 36 new loading dock posi-
tions, T-5 lighting and new HVAC and sprinkler systems, as well as a parking lot ex- pansion to accommodate both
shipping and parking needs. “The buyer was drawn to I-78 Logistics Center in large part due to the recent up-
Southern SPOTLIGHT
Facilitywill provide recreational, educational programs to youthswith special needs Hollister Construction Services to build 47,000 s/f ‘Lifetown’, a $14 million project in Livingston, NJ
5-11B
Kislak co-represents the seller in a $7.1m sale of 1.033 acres
PARSIPPANY, NJ — Hol- lister Construction Ser- vices , a leading full-service construction manager special- izing in corporate, educational, healthcare, industrial, retail and residential construction, announced that it will serve as construction manager for LifeTown, a dynamic new fa- cility in Livingston that will provide social, therapeutic, recreational and educational programs to youths with spe- cial needs. The 47,000 s/f, $14 million project, slated for completion in winter 2015, will transform a former warehouse into an inclusive center. LifeTown will offer a variety of educational and therapeutic experiences, from a sand room for tactile therapy to mock retail stores for instruction on self-reliance within society. The center will also enable all children and teens to learn social and life skills in a safe and controlled environment.
3B
United Realty Trust pays $9.3m for 90,000 s/f in Cherry Hill
Lifetown rendering
One of just a few such fa- cilities in the nation, Life- Town can be compared to a backlot movie studio, specially designed for first-hand, edu- cational experiences. At the center of the building is Life Village, an extremely detailed mockup of a town square where individuals with special needs can practice vital life skills. Life Village will house functioning storefronts includ-
ing a bank, florist, food and book stores, a salon, pet shop, health-care facility, café and movie theater. It will even in- clude street crossings, a traffic light and sidewalks. All elements of LifeTown have been designed to ac- commodate individuals with special needs. The gym, for instance, will be constructed to reduce noise, which can cause confusion and agitation
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