March 2023

M id A tlantic Real Estate Journal — The Best of 2022 — March 2023 — 35D


Cushman and Wakefield 101 Hudson Jersey City, NJ

Northmarq Groundworks HQ Virginia Beach, VA

Prism Capital Partners 200 Metro Boulevard Nutley, NJ

Broker: Asher Wenig Size: 45,061 SF

The office is fully leased to Groundworks, the nation’s leading and fastest-growing foundation and water management solutions company. Asher Wenig represented the buyer. The seller was a private equity firm located in Charlotte, North Carolina. The three-story building was built in 2008 and is situated on 14.03 acres. Groundworks operates over 64 offices and has been named multiple times to the Inc. 5000 Fastest Growing Companies, Qualified Remodeler Top 500, BBB integrity award and Best Places to Work. The site is conveniently located on Corporate Landing Parkway, just off Dam Neck Road, and neighbors various service retailers and corporate offices. Asher Wenig

Brokers: Andy Merin, Adam Spies, David Bernhaut, Gary Gabriel, Kevin Donner, Frank DiTommaso, Ed Duenas and Ben Lushing Size: 1.3MSF The historic sale of 101 Hudson represented New Jersey’s largest office trade in 2022 and one of the largest investor office trades in New Jersey history. Executed during one of the most challenging capital markets environments, the sale was a monumental achievement. Cushman & Wakefield served as the sole arranger of the transaction. The 42-story property totals 1.3 million SF and is one of the most architecturally unique buildings along New Jersey’s waterfront. Designed to house nearly 5,000 employees, the property is vital to the local Jersey City economy.

Brokers: Eastdil Secured Size: 300,000 SF

In July of 2022, Prism successfully negotiated the sale of ON3’s flagship office tower, 200 Metro Boulevard in Nutley, to an affiliate of Cantor Fitzgerald, L.P. The blockbuster trade to the New York City-based institutional investor achieved bar-setting results, with the region’s highest psf pricing and lowest cap rate for this sector at the time. The 300,000 SF building is fully leased to Eisai Inc. and serves as the com - pany’s new corporate headquarters. At a time when there is less emphasis on investing in suburban office buildings, the significance of this transaction further validates ON3’s standing as an exceptional, mixed-use destination.

Award Winning Prism Projects

Edwin H. Cohen & Eugene R. Diaz – Principal Partners

Prism Capital Partners is an experienced real estate owner/operator with a proven track record of creating value through select real estate investments and developments. Geographically focused in the tri-state region of New Jersey, New York and Connecticut, Prism specializes in identifying, acquiring and creating unique, value-added opportunities in the residential, office, retail and industrial markets. The company invests with institutional and private capital sources that rely on Prism’s ability to think “outside of the box,” and to identify and realize the highest value potential in real estate endeavors of all sizes. Since its inception in 2002, Prism has orchestrated the repositioning of an impressive list of properties and projects, building on the combined 80-year wealth of real estate knowledge between its principal partners, Edwin H. Cohen and Eugene R. Diaz. From acquisition to disposition, zoning and land use issues, demolition, rehabilitation, construction, marketing, leasing, financing and capital structure, Prism’s unparalleled stewardship delivers excellence from each project’s conception through completion.





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