Real Estate Journal — The Best of 2018 — March 29 - April 11, 2019 — 5C
www.marejournal.com
M id A tlantic
The LARGEST INDUSTRIAL LEASE of 2018
Colliers International-PA Clarius Park Arcadia North Tobyhanna, PA
NAI James E. Hanson 100 Performance Drive Mahwah, NJ
Lee &Associates New Jersey, LLC XPO Logistics South Brunswick, NJ
Size: 271,176 SF NAI James E. Hanson has brokered a lease with Snow Joe DC LLC for Sitex Group’s new industrial facil- ity located at 100 Performance Drive within Stateline Business Park in Mahwah. Situated on 20.7 acres, the warehouse offers a 36-foot clear height, 54-by-60-foot column spacing, 36 dock doors, ESFR sprinklers, two drive-in doors and parking for 25 trailers and 184 cars. Snow Joe is a manufacturer of innovative, eco-friend- ly and affordable land and garden tools. Kenneth Lun- dberg and Patrick Lennon of NAI Hanson represented the landlord, while Brian Scheuer of Chaus Realty represented the tenant in the lease transaction.
Size: 526,400 SF Broker: Dave Saltzman
XPO Logistics leased this property from Prologis on a long term basis. In order to complete this transac- tion in the time frame needed, Prologis had to quickly reach an agreement to terminate the lease of the cur- rent tenant, Children’s Place, as well as their sub-ten- ant, Tory Burch. Due to the existing amenities that in- cluded an extensive conveyor system, and heavy duty narrow aisle racking, this was a great opportunity for XPO to save money, as well as become operational in a short time frame.
Size: 1,048,380 SF Brokers: Steve Cooper
Colliers represented the landlord, NFI Industries in the selection of land ready for 1,048,380 s/f of industrial development at Clarius Park Arcadia North in Toby- hanna, PA.
The Most UNIQUE/SIGNIFICANT OFFICE SALE of 2018 JLL-PA
The Kislak Company Inc. Ironbound Medical Center Newark, NJ
Burns & Scalo Real Estate Fountainhead Canonsburg, PA
Five Tower Bridge Conshohocken, PA
Size: 222,058 SF Brokers: Jim Galbally, John Plower, Chad Orcutt, Brett Grifo, Colin Behr Five Tower Bridge is the largest single asset office building sold to USAA. The Property was completed in 2001 and designed by the award-winning Skidmore Owings & Mer- rill, offering the style and finishes of a world class office building. At 96% occupied, Five Tower Bridge provides an investor with great in-place cash flow generated from the top suburban office building in the Greater Philadelphia region. The average remaining lease term at the Property is over 5.3 years with approximately 60% of the Property’s in-place tenancy having investment grade credit (including Oracle, Wells Fargo, and BTG International).
Size: 37,500 s/f Broker: Michael Salomon and Julie Gralla The property is a 37,500 s/f medi- cal office building located in the Ironbound section of Newark, New Jersey. The building has undergone extensive capital improvements including over a $1 million gut renovation of the top and bottom floors, and half the lobby. There is a large fenced parking lot for 40 cars.
Size: 90,250 SF Burns Scalo Real Estate originally developed Fountainhead in 2003 and soon sold the building in 2005, while continuing to lease and manage the property. The organization was very excited about the opportunity to buy back Fountainhead in 2018 and jumped on the opportunity. The building is situated at the very front of Southpointe business park and features beautiful Coloardo blue glass on all sides. Fountainhead is 100% leased and home to large organizations such as NVR and Crown Castle. Colliers International was the selling broker and Burns Scalo Real Estate was the purchaser on the deal.
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