4C — March 29 - April 11, 2019 — The Best of 2018 — M id A tlantic
Real Estate Journal
www.marejournal.com
The LARGEST OFFICE SALES of 2018
JLL-PA Gateway II, III, IV Newark, NJ
Denholtz Associates 100 Matawan Matawan, NJ
Strategic Funding Alternatives, LLC 312 West Rte. 38 Moorestown, NJ
Size: 133,678 SF Brokers : CBRE Institutional Properties’ Jeffrey Dunne, Jeremy Neuer, Travis Langer and Zachary McHale repre- sented Denholtz Assoc. and Palatine Capital Partners in the transaction. Located in one of the fastest growing regions in New Jersey, 100 Matawan offers 133,678 s/f of office space, first-class amenities and a striking, modern interior but at the time of Denholtz Associates and Palatine Capital Partners’ ac- quisition in 2015 the building was struggling to attract and retain tenants. Despite low tenancy at the time, the partners recognized the substantial potential of the building. Closing late in 2018, the sale of the now-stabilized 100 Matawan marked the realization of the investment team’s long-term investment strategy and the creation of value from a once struggling asset.
Size: 77,000 SF building on 17 acres Broker(s):Anne Klein
Size: 1.6 million SF Brokers: Tom Walsh & Joseph Garibaldi Size: 1.6 million SF
312 West Rte. 38 is a 77,545 s/f class-A office build- ing located in Moorestown, NJ. The two-story proper- ty was constructed in 1970 and SFA has begun major renovations to create an environment commensurate with today’s wants and needs in an office building. The property was purchased vacant, but benefits from an excellent location along Rte. 38 through the heart of Moorestown and is easily accessible to the NJ Tpke.. SFA has been successful in its plans to sub- divide the building for the benefit of multiple local business across multiple industries to lease space and call this building home.
Threeclass A office towers in Newark, New Jersey’s CBD represents three of the four Gateway office buildings. The properties are a transit-oriented office park, physically con- nected to Penn Station via elevated pedestrian concourse JLL recapitalized the three office buildings with Garrison In- vestments and Onyx Equities for $325 million/$203 psf with Taconic/Axonic remaining 45% of the capitalization. JLL structured a five year interest only loan with BAWAG (Austrian Bank) with $30 million to $50 million in additional funding for an extensive capital improvement project This transaction represented the largest office sale in New- ark’s history and the largest capital markets investment in New Jersey over the previous five years.
The MOST SIGNIFICANT LAND SALE of 2018
Marcus & Millichap Spring Street Commons Newark, NJ
Campbell Commercial Real Estate Silver Creek Mechanicsburg, PA
Patterson-Woods Commercial Properties/CORFAC Int’l. 203 Gale Ln., Kennett Square, PA
Arthur D. Campbell
Jessica M. Gasper
Size: 3.85 acres Brokers: Arthur D. Campbell and Jessica M. Gasper. Signature Senor Living signed a year long lease for 95 units of an assisted living project. “At Signature Senior Living they are dedicated to serving seniors and believe life is all about choices. They offer their residents choices by working with each resident, their loved ones, and medical providers to design a person- alized plan of care to meet each resident’s wants and needs.” Their owner has “over 20 years of experience in providing care and services to the senior living in- dustry”. Art Campbell and Jessica Gasper of Camp- bell Commercial Real Estate, Inc. represented the les- see in the transaction.
Size: 43,865 SF/1.01 Acres Brokers: Carlos Zapata
Spring Street Commons has 43,860 s/f of land in a prime corner location, set between Spring Street and McCarter Highway. The site falls under the Newark’s Riverfront Public Access and Redevelopment Plan, a city project to push for development in the area. As per the redevelopment plan, the property is zoned high-density residential, retail, and office allowing the development of up to 30 stories.
Greg Ellis
Size: 22.51 Acres Brokers: Greg Ellis, CCIM
Greg Ellis, CCIM, represented the seller, Everfast, Inc., in the sale of a 22.51 acres parcel of land at 203 Gale Lane in Kennett Square, PA.
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