S hopping C enters S outhern N ew J ersey
Real Estate Journal — New Jersey — October 10 - 23, 2014 — 7 B
www.marejournal.com
M id A tlantic
Retailer to move from a 421,000 s/f facility in Delaware NFI breaks ground on 1,015,000 square foot facility for Five Below in Southern New Jersey
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2015. The build-to-suit dis- tribution center will support the continued growth and expansion of Five Below on the East Coast. “NFI is excited to collabo- rate with Five Below to de- velop an optimized solution and leverage supply chain ef- ficiencies,” said Jeff Brown , NFI president and vice chair- man. “This groundbreaking is a momentous occasion that would not have been possible without the dedica- tion of Oldmans Township, and we thank them for their support.” From construction and de- velopment to property man- agement, the team at NFI develops facilities around a customer’s distinct sup- ply chain needs. “We build the best warehouses in the country because we know what it takes to operate the best warehouses through our distribution network,” said Brown. n
LDMANS TWP. , NJ — NFI , a sup- ply chain company
headquartered in Cherry Hill, New Jersey, announced that ground has been broken on a new build-to-suit distribution center in Oldmans Twp. The facility will support the future growth and expansion of Five Below, the leading retailer of trend-right, high-quality, ex- treme-value merchandise for pre-teens, teens and beyond. “It is an exciting time for Five Below, as we continue to make the necessary invest- ments to fuel the expansion and success of our brand,” said Tom Vellios, cofounder and CEO of Five Below. “NFI has provided us with a solu- tion that is tailored to our needs and will support Five Below’s need for increased distribution capacity on the East Coast.” Five Below will initially oc- cupy approximately 715,000 s/f of the 1,015,000 s/f dis- NORTH HANOVER TOWNSHIP, NJ — CBRE Group, Inc. , New Jersey’s largest commercial real es- tate brokerage firm, an- nounced that it has arranged the sale of 189 Jacobstown New Egypt Rd., in North Hanover Township for ap- proximately $1.4 million. The 9,333 s/f property is fully net-leased to Dollar General. Charles Berger and Elli Klapper of CBRE’s Invest- ment Proper t i es Group served as the agents for the seller in the transaction. The buyer, an out-of-state inves- tor, offered an aggressive capitalization rate for the asset and plans to hold the corporate guaranteed prop- erty for investment purposes. The newly constructed 189 Jacobstown New Egypt Rd. is leased to Dollar General for a 10-year term with two five-year option periods. The single-tenant, freestanding
Pictured from right to left: Gene Rosadino, Five Below; Jeff Brown, NFI; Eric Spector, Five Below; Sid Brown, CEO, NFI; Tom Velios, CEO, Five Below; Walt Harkens, Five Below; Mayor Harry Moore, Oldmans Township, NJ; Freeholder Director Julie Acton, Salem County
tribution center, which will replace the existing Five Below 421,000 s/f facility in New Castle, Delaware.
The facility features energy- efficient warehouse space, class A concrete tilt wall construction, cross-dock load
configuration, and an ESFR fire sprinkler system. Con- struction is scheduled to be complete early summer of
CBRE Group arranges sale of dollar general store for $1.4 million
NAI DiLeo-Bram represents tenant, UNEX Manufacturing, in 74,187 s/f lease
691 New Hampshire Ave.
LAKEWOOD, NJ — NAI DiLeo-Bram & Co. an- nounced that it negotiated
existing facilities including their corporate headquar- ters. “It was important to UNEX to remain close to their previous Jackson lo- cation so they could retain their employees. 691 New Hampshire Ave. had previ- ously been a manufactur- ing facility so the fit was natural.” said broker Tom Kirczow , VP at NAI DiLeo- Bram & Co. The property has heavy power, generous parking and sits on over 6.5 acres. UNEX is proud to be keeping manufacturing jobs in New Jersey for at least another 15 years. n
the leasing of 691 New Hampshire Ave., Lake- w o o d , o n b e h a l f o f UNEX Man- ufacturing, Inc. U N E X
Dollar General stock photo
store is the third property net-leased to Dollar General that CBRE Group has sold in the past eight months. “As this is our third sale of a property net-leased to Dol- lar General in recent months, it’s clear that we’re continu- ally seeing a high demand for
assets with credible, invest- ment grade tenants,” said Berger. “We’ve also closed a number of additional net- leased sale transactions in the Tri-State area and are very active with both sellers and buyers in this area of the market.” n
Tom Kirczow
Manufacturing Inc., a fam- ily owned company and in- dustry leader in picking solutions since 1964, entered into a long term sublease in Lakewood to combine two
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