8C — March 29 - April 11, 2019 — The Best of 2018 — M id A tlantic
Real Estate Journal
www.marejournal.com
The LARGEST INDUSTRIAL SALE of 2018
Cushman & Wakefield-NJ 44-46 & 48-50 Station Rd. Cranbury, NJ
Bussel Realty Corp. 1001 Roosevelt Avenue Edison, NJ
Denholtz Associates 175-195 Terminal Ave. Clark, NJ
Size: 1.2 million SF Brokers: AndrewMerin, BrianWhitmer, David Bernhaut, Gary Gabriel, Jules Nissim, Stanley Danzig and Stephen Elman Cushman & Wakefield brokered the sale of Cranbury Station Park, a 1.24 million s/f industrial development in Cranbury, from Rockefeller Group andAlfieri (seller) to Clarion Partners (buyer). The state-of-the-art distri- bution complex is situated on 120 acres in the Exit 8A submarket, among the best performing industrial markets in the nation. In addition to its core location and profile, Cranbury Station Park offers 40-foot clear heights, 195- foot truck courts, ample parking and trailer storage, and ESFR sprinkler systems. One-day dock-to-doorstep ac- cess to over 100 million customers has driven 8A rents and occupancy rates to unprecedented levels.
Size: 97,000 SF Brokers: Jordan Metz, Senior Vice President, Steve Bussel, President, SIOR 1001 Roosevelt Avenue is a multi-tenanted industrial building totaling 97,000 s/f. Steve Bussel, president of BRC, SIOR, represented the seller. Seagis Property Group was represented by Jordan Metz, senior vice president of BRC. With units ranging from 5,000 to 25,000 s/f and up, vacancy rates in the market hovering at 1.5%, and easy access to one of the nation’s most heavily traf- ficked highway networks, Seagis Property Group is well-positioned to capture a myriad of tenants seeking functional space in a prime last-mile location at 1001 Roosevelt Avenue. The property is ideal for demand for last mile e-commerce deliveries.
Size: 108,000 SF Brokers: NKF Executive managing director Steven M. Schultz and managing director Tony D. Georgiev Prior to their acquisition of 175-195 TerminalAvenue in 2015, Denholtz recognized that an expiring lease with the primary tenant, L’Oréal, and the need for several substantial capital improvements presented an ideal value-add opportunity. By initiating substantial exterior and interior improvements, Denholtz was able to create a modern R&D space in line with ten- ant needs and negotiate a long-term lease extension with L’Oréal. The successful execution of this strategy created a stabilized flex/R&D asset that was able to attract a premium price amidst a competitive market.
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