M id A tlantic Real Estate Journal — Best of 2024 — March 2025 — 15B
www.marej.com
The MOST UNIQUE INDUSTRIAL SALE of 2024 NAI Summit The Factory Building Bethlehem, PA Cushman & Wakefield FairMeadows Industrial Portfolio Fairfield, NJ Dalfen Industrial Lumberton Logistics Center Lumberton, NJ
Size: 868,542 SF across 17 Buildings Brokers: Cushman & Wakefield’s Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema Cushman & Wakefield arranged the sale of and acquisition financing for the FairMeadows Portfolio, a 17-building industrial portfolio totaling 868,542 s/f in Fairfield, NJ. The portfolio presented investors with rare above market quality buildings and exceptional mark-to- market potential in one of the strongest performing submarkets of New Jersey. The FairMeadows Portfolio was a hotly contested marketing process with investors appreciating the flexibility and functionality that the well-located portfolio offers to market occupiers. The rarity of a 17-building NNJ portfolio made it even more special. This was one of the largest portfolio transactions in recent Northern NJ history by number of buildings, and the sale highlights the portfolio’s exceptional quality, low rollover risk and investment appeal in
Size: 219,123 SF Dalfen Industrial’s acquisition of the Lumberton Logistics Center highlights a strategic and value-driven transaction in the competitive industrial market. Acquired from the lender Pangea Mortgage Capital, the 219,123 s/f, state- of-the-art warehouse in Lumberton, New Jersey, offers 40-foot clear heights, 35 loading positions, and flexible demisability. Originally developed by Active Acquisitions, the property was taken over by Pangea before its sale to Dalfen in an off-market deal. Positioned near key transportation routes, it enhances Dalfen’s Northeast portfolio while catering to strong tenant demand in a high-barrier market, exemplifying expert investment execution.
Size: 40,150 SF Brokers: Michael Adams, SIOR, Sarah Finney Miller, and Collin Holben NAI Summit successfully brokered the sale of a premium flex building to the Bethlehem Area School District (BASD). Originally built as a Bethlehem Steel facility, the 40,150 s/f building was renovated in 2019 for food and beverage innovation by The Factory LLC. BASD will repurpose it as a vocational-technical facility, the purchase will save taxpayers millions compared to the original new construction expansion plans. Its prime location near educational institutions, public transportation, and modern amenities made it an ideal choice.
JLL Capital Markets 152 Ridge Road South Brunswick, NJ The MOST UNIQUE INDUSTRIAL ACQUISITION of 2024
The MOST UNIQUE INDUSTRIAL LEASE of 2024 Cushman & Wakefield 300 Salt Meadow Road Carteret NJ
Size: 355,100 SF Brokers: Cushman & Wakefield’s Mindy Lissner (tenant), Cushman & Wakefield’s Jules Nissim and Kim Bach (landlord) Crow Holdings Development (CHD) completed its award-winning Carteret campus in mid-2023, achieving an efficient 18-month development cycle and supporting 500 construction jobs. DSV Global Transport and Logistics became the first full-building tenant in June 2024, doubling its regional footprint and employing 80 people at the site, with the campus projected to generate over 250 additional jobs. This project exemplifies public-private collaboration, with Carteret Mayor Daniel Reiman and his administration supporting development as an economic driver. A 30-year PILOT agreement ensures long-term tax stability, showcasing Carteret’s effective partnership with CHD to foster growth in New Jersey’s economy.
Nicholas Stefans Marc Duval Jason Lundy Jose Cruz
Jordan Avanzato
Size: 216,000 SF Brokers: Jordan Avanzato, Marc Duval, Nicholas Stefans, Jason Lundy, and Jose Cruz JLL arranged the sale of 152 Ridge Road in South Brunswick Township, New Jersey. The building consists of a 216,000 s/f cross-dock warehouse facility featuring 33 loading doors and 30’ clear heights. The Property, built in 1991, is 100% leased to a full-service third-party logistics company that specializes in shipping via coast-to-coast LTL, full truckload, and intermodal.
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