32D — March 2023 — The Best of 2022 — M id A tlantic Real Estate Journal
www.marej.com
The LARGEST INDUSTRIAL SALE of 2022
Cushman and Wakefield Logistics Center @ I-195 Adventure Crossing
Greysteel 940 Red Toad North East, MD
The Blau & Berg Company Hyatt Lane Newark, NJ
Brokers: Andrew J. Merin, David W. Bernhaut, H. Gary Gabriel, Brian J. Whitmer, Kyle B. Schmidt, Frank A. DiTommaso Location: Jackson, NJ Size: 1,000,544 SF It’s hard to imagine any industrial site in the tri-state area to be pioneering, however, Logistics Center at I-195 took foresight and confidence that taking the road less traveled would yield success. Active Acquisitions and Stonecutter Capital’s plan to speculatively build one million SF of new industrial, the only rooftop for miles around, was a tremendous success. Cushman & Wakefield marketed the vacant buildings on a forward basis which generated a five-round heated bidding war amongst top investors. Ultimately, the project traded to Brookfield Industrial in one of the largest single asset sales in New Jersey state history.
Brokers: Team of Alessandro Conte, Jason Crimmins, Peter Murano, Michael Schipper Size: 30 AC Property sold to Link Logistics, who is building a 350k SF building on site.
Broker: Zach Benlemlih 940 Red Road is 33.5 acres of industrial-zoned land located on I-95 and within 30 miles of MD, PA, DE, and NJ. An existing income with a flexible lease allowed for covered land during the approval process. This site is eligible for Cecil County’s “Fast-Track” Plan Approval Process and the M-2 zoning allows for a wide range of heavy industrial uses and flexible development guidelines. The federal opportunity zone and local county incentives allow for tax credits against capital improvements.
INDUSTRIAL OFFICE RETAIL LAND . . .
Local expertise. Global reach.
830 Morris Turnpike, Suite 201, Short Hills, NJ 07078 973.379.6644 www.blauberg.com Since 1932, The Blau & Berg Company has held a leading position in the New Jersey and Tri-State commercial real estate market. As an independent, full service commercial brokerage firm, we provide an array of services in the industrial, retail, multifamily and office fields. . . . . .
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