March 2023

N ew J ersey S hopping C enters N orthern NJ S potlight

M id A tlantic Real Estate Journal — Central NJ — March 2023 — 5B

Goldman & Siemsen of KBC Advisors reps. Amazon in 205,000 s/f distribution development STRO & KRE Group celebrate the launch of state- of-the-art facility with Amazon in Woodland Park

ALLENDALE, NJ — The Hampshire Companies , a full-service, private real estate investment and development firm, announces its plans for a 70-unit multifamily community located at 220 West Crescent St. in Allendale. The building is scheduled to be completed in 2Q of 2024. The 104,620 s/f community will be the newest addition to The Hampshire Companies’ growing portfolio of premier multifamily properties across northern New Jersey. Located less than half a mile from downtown Allendale and a short drive from Route 17, the community will feature ideal connectivity to the Garden State Parkway and Interstate 287. In addition to its premier location, its design from lead- ing architectural firm DMR Architects will boast a variety of highly flexible one and two- bedroom residences including six COAH units and three units designated for first responders. Beyond their homes, residents “We are pleased to have secured Amazon as a ten- ant for 1150 McBride after years of planning and develop- ment. We are thankful to have worked with our partners at KRE and Woodland Park’s Mayor Keith Kazmark who were instrumental in the success of this project,” said Steven Millstein , STRO’s 1150 McBride Ave. is a 205,000 s/f class A industrial- distribution facility with 36’ clear ceilings, 2 drive-ins, 20 docks, and ample parking for trailers and employees. The property has direct access to Rte. 46, Rte. 23, and I-80. IDGEWOOD, NJ — The STRO Com- panies (STRO) and KRE Group have an- nounced a 205,000 s/f lease with Amazon for a sub same day distribution facility and celebrated the launch of the building in February. R

continue to be a trusted partner to municipalities who are look- ing to tap into the value of their real estate to create spaces that meet the needs of their local communities,” said James E. Hanson II , president & CEO of The Hampshire Companies. “Our work in Allendale is em- blematic of our singular vision of consistently transforming possibilities into opportunities to better serve our communi- ties, and we are excited to bring our vision to life over the months to come.” Kurt Vierheilig, AIA, LEED AP BD+C , director of design and partner for DMR Ar- chitects added, “DMR worked with Hampshire and the town- ship to create a design that would ensure aesthetic and proportional cohesiveness for a development that serves many important functions. We are excited to see this lively, func- tional and beautiful develop- ment come to life in a way that is meaningful to the Allendale community." MAREJ Amazon site lead Drew Mc- Crosssan Added, “Amazon has invested over $23 billion dol- lars in New Jersey since 2010. We are excited to continue our growing footprint through this state-of-the-art facility in Woodland Park. I am proud to lead this site and look forward to continuing to be integrated with this community.” MAREJ with the Amazon’s Real Estate team on bringing this deal to a final closure and we thank their brokers Jason Goldman and Andrew Siemsen of KBC for facilitating this transaction. There are very few industrial assets like 1150 McBride that provide the site efficiencies and logistic value. Amazon was able to see the tremendous value in the location, being 30 minutes to NYC and complete access to over 20 million consumers in the NY Metro area,” said Jack Shulman, STRO’s Sr. Director of acquisitions.

1150 McBride Ave.

founder and principal. KRE president Jonathan Kushner added “1150 McBride is a first-class building with a great tenant; KRE is thrilled to

partner with STRO on another successful project.” The partnership of STRO and KRE were represented in-house by Jack Shulman and Elliot

Ferris , while Amazon was represented by Jason Gold- man and Andrew Siemsen of KBC Advisors . “It was a pleasure working

The Hampshire Cos. announces plans for DMR Architects designed 70-unit multifamily community in Allendale, NJ

220 West Crescent St.

will also enjoy access to an impressive amenities pack- age with a clubroom, storage, lounge, and a 9,460 s/f outdoor courtyard. The construction of 220 West Crescent Street highlights The Hampshire Companies’ continued community-focused

real estate investment in Al- lendale. In 2021, the company negotiated a deal with the Borough of Allendale to acquire the land at 220 West Crescent Street as well as a neighboring 114,500 s/f vacant industrial building at 230 West Crescent St. Upon the acquisition of 230

West Crescent, The Hampshire Companies oversaw an ambi- tious capital improvement plan to bring the building to full oc- cupancy earlier in 2022. “Through harnessing our deep experience in working collaboratively with local gov- ernments and stakeholders, we

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