Real Estate Journal — The Best of 2018 — March 29 - April 11, 2019 — 31C
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M id A tlantic
GMH Capital Partners The Courts at SpringMill Station Conshohocken, PA The MANAGERS LARGEST PROPERTY of 2018 LMS Commercial Real Estate Queensgate Towne Center York, PA Colliers International-PA Duke Realty Portfolio Multiple Prop. In PA & NJ
Size: 6,549,838 SF The Colliers in Philadelphia Property Management divi- sion manages 6.5 MSF locally of 160 MSF nationwide for institutional owner Duke Realty. Work for the logistics gi- ant involves preventative and physical maintenance as well as vendor management across properties in Eastern PA and Southern New Jersey. Our team is a leading service pro- vider to Duke within Colliers national organization, rating as one of the top three Duke teams over the last 16 con- secutive months based on indicators such as response time, customer service and open work orders.
Size: 371,296 SF GMH Capital Partners acquired The Courts at Spring Mill Station -- a 385-unit, luxury apartment community in Con- shohocken in October 2015. The Courts are the epitome of exceptional living with modern conveniences, upscale amenities, and close proximity to popular shopping and en- tertainment destinations. In February 2018, GMH sold the property but maintained management. The transition was seamless and a benefit to the new owner, due to GMH’s fa- miliarity with the community and residents. Residents re- port that the staff is helpful and friendly, and the complex is always clean and well maintained.
Size: 355,640 SF Queensgate Towne Center is a 355,640 s/f premier grocery- anchored shopping center located along Springwood Road only ¼ mile from Interstate 83 in York. The center is an- chored by Weis Markets, Golds Gym, Community Aid, and Frank Theaters. It also boasts a strong blend of national and regional tenants including: Chipotle, Pet Valu, Jersey Mike’s, and Hair Cuttery. Additionally, the center hosts some well-known local retailers including Adams Jewelers, the Strawberry Shop, Nittany Pizza, and Evolution Power Yoga.
The OWNERS LARGEST PROPERTY of 2018
Prism Capital Partners Former Lucas Chevrolet Dealership Site, Woodbridge, NJ
Vision Real Estate Partners LATITUDE, Interplace Pkwy. Parsippany, NJ
NAI Emory Hill 78 McCullough Drive New Castle & Newark, DE
Size: 700,000 SF LATITUDE Interpace Parkway Parsippany, NJ
Size: 5 Acres Former Lucas Chevrolet Dealership Site Corner of Rahway Ave./Green St. Woodbridge, NJ
A pair of acquisitions by Vision Real Estate Partners and Rubenstein Partners continued this joint venture partnership’s commitment to the Morris County office market. In separate transactions, the firms purchased Phases I and II of the for- mer Morris Corporate Center IV, amassing nearly 700,000 s/f of class A product on Interpace Parkway in Parsippany. The partnership then immediately launched a comprehen- sive, multi-million-dollar rebranding and reintroduction of the campus as LATITUDE – a unified, 30-acre campus offering premier corporate, health, wellness and lifestyle- focused work spaces. As the operating partner for LATI- TUDE, Vision Real Estate Partners is spearheading the campus reconceptualization.
Neil Kilian
Tim Plemmons
Prism acquired the five-acre, former Lucas Chevrolet dealership property in Woodbridge and is transforming the under-utilized site into a luxury, mixed-use transit-oriented community. Upon completion, the property will feature 232 apartments, a host of modern amenities and 12,000 s/f of retail. Located at the corner of Rahway Ave. and Green St., the property sits in the heart of its walkable downtown, next to Woodbridge Station. Woodbridge is experiencing a renaissance due to this type of redevelopment, and the appetite for multifamily rental, especially transit-oriented product like this, continues to exceed supply throughout New Jersey and nationwide.
Size: 241,000 SF 4-Building Industrial Portfolio in New Castle &Newark, DE Brokers: Neil Kilian, SIOR, CCIM/Tim Plemmons NAI Emory Hill recently sold a portfolio of four industrial properties totaling 241,000 s/f in New Castle County, DE. The four buildings were 100% occupied at the time of the sale. The properties included: 110 Executive Dr. and 12, 77 and 78 McCullough Dr. The Emory Hill Companies will lease, manage and maintain the properties, which are located in Newark and New Castle. NAI Emory Hill was the sole broker in the transaction.
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