March 2023

S hopping C enters N ew J ersey /P ennsylvania

M id A tlantic Real Estate Journal — New Jersey/Pennsylvania — Section B

Chuck Fern from Cushman and Wakefield represented the buyer Glendale Warehouse & Distribution Corp. purchases Eastampton Twp. industrial building for $83M utilize multiple ports of entry for our imported products.”

HI-LIGHTS real estate developer, owner and operator, announced to- day that it has sold a recently completed 345,600 s/f distri- bution center to Glendale Warehouse and Distribu- tion Corp. for $83 million. Rockefeller Group Logistics Center Eastampton is located on 27.64 acres on Route 206, approximately eight miles from Exit 7 of the New Jersey Turnpike. Rockefeller Group purchased the property in E MARCH 2023 ASTAMPTON TOWN- SHIP, NJ — Rock- efeller Group , the U.S. Lee & Associates inks two Middlesex County industrial deals

Glendale will use the build- ing for the distribution of spices and other food grade products. The distribution center includes 96 trailer spaces, 384 auto parking spaces, and a 185’ truck court with a 60’ concrete apron. It also includes 54 dock doors with two drive-in doors, 36’ clear height, 4,000 s/f of specu- lative office space, 3,000 amps of power and LED lighting. “Glendale is excited to be moving into our new, state-of- the art distribution center in Eastampton as we continue to expand our business in New Jersey,” said Glendale presi- dent Frank Collette . “With this new facility, developed by a terrific partner in Rockefeller Group, we are consolidating operations from multiple build- ings in Edison to this larger building and will be able to better serve our customers and

Rockefeller Group and Glen- dale worked closely together on completing the building to meet Glendale’s stringent food safety requirements and operational needs. Glendale will employ approximately 30 workers at the new facility, many of whom are coming over from the Edison properties. Chuck Fern from Cush- man and Wakefield rep- resented the buyer and the CBRE team of Tom Mo- nahan, Gerard Monahan, Stephen D’Amato, Larry Schiffenhaus, Lauren Hageman and Ana Laza- rides served as the agent for the seller. Blue Rock Con- struction was the general contractor, Menlo Engineer- ing was the civil engineer and KSS Architects designed the building. MAREJ

Rockefeller Group Logistics Center Eastampton

September 2021. “Rockefeller Group is pleased to complete and sell our in- dustrial distribution center in Eastampton, which drew significant interest from both local and national users dur- ing the construction of the core and shell,” said Zac Csik , vice

president, Rockefeller Group NJ/PA Development. “It was a pleasure working with Glen- dale, a user-buyer who was excited to be purchasing a new, class A distribution center in one of New Jersey’s fastest growing industrial markets – Burlington County.”

Prestige Group Arranges $5,750,000 re-finance for Liberty Plaza Shopping Center in Philadelphia, PA

PHILADELPHIA, PA — Richard Natow , president of Devon based Prestige

Group, Inc. announced that Prestige Group Capi- tal Market- ing/Consult- ing Division was respon- sible for ar- ranging a $5,750,000 loan to re- finance one unit of Lib- erty Plaza, a shopping center lo- cated shop- ping at 4501



Richard Natow

Northern New Jersey


Gebroe-Hammer promotes Gehler to VP

Liberty Plaza

that Cohen has developed, we were able to help secure a loan with significantly more advantageous terms than the existing loan. The loan was placed through a Bucks/Mont- gomery County, Pennsylvania based community bank. Cohen said, “Liberty Plaza is positioned in an exception- al location with high visibility in Northeast Philadelphia. This prime locations was a key motivating factor for the

bank to approve this loan, especially in this challenging economic environment. The multi-tenant shopping center consists of a total of 353,000+/-s/f. It is a seven unit condominium. The refi - nanced unit was 153,000+/- s/f. There are 16 loading docks and 1,100 parking spaces on site. The property is situated on approximately 33 acres with 534’ of frontage on Woodhaven Avenue.

The property is currently leased to tenants including, Raymour and Flanigan, Dicks Sporting Goods, China Palace, and Boxing Venue. Prestige Group is a full service commercial real estate group whose expertise in- cludes the sales and market- ing of multi-family, commer- cial, industrial, investment properties, senior housing and land as well as financial consultation. MAREJ

Bob Cohen

Woodhaven Rd., Philadelphia. Prestige Group’s Capital Marketing/Consulting Divi- sion, under the leadership of Bob Cohen , EVP, was directed by the owner, a local investment group, to assist in securing a loan to refi- nance their existing mortgage. Through the relationships

ALSO INSIDE Pennsylvania............11-BC B People on the Move....... 12B

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