R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news

ISSUE HIGHLIGHTS Volume 29, Issue 2 Jan. 27 - Feb. 9, 2017

BioMed Realty sells the GSK Global Vaccine Centre in Rockville, MD HFF closes $337.5million sale/ arranges financing for 635,058 s/f research facility

R OCKVILLE, MD — Holliday Fenoglio Fowler, LP (HFF) announced that it has closed the $337.5 million sale of and arranged financing for the GSK Global Vaccine Cen- tre, a three-building, vaccine research and development facility totaling 635,058 s/f in Rockville. HFF marketed the prop- erty on behalf of the seller, BioMed Realty (which is owned by affiliates of Black- stone Real Estate Partners VIII ), and procured the buyer. Additionally, HFF worked on behalf of the new owner to secure an acquisition loan through Goldman Sachs . The GSK Global Vaccine Centre is fully leased to a whol- ly-owned subsidiary of Glaxo- SmithKline. Originally built in 2003, the three-building facility is situated on a 28.09- acre site at 14200 Shady Grove Rd. in the heart of the I-270



Section C 2017 FORECAST

UPCOMING CONFERENCES February 2, 2017 Philadelphia Multifamily Summit February 3, 2017 3 rd Annual NJ Industrial Real Estate / Development Summit March 9, 2017 3rd Annual NJ Land Development Summit For speaking and sponsorship information, please contact: Linda at 781-871-3456 or lchristman@marejournal.com

GSK Global Vaccine Centre University of Maryland Shady Grove Life Sciences Center and Johns Hopkins University Belward Campus. The HFF investment sales team representing the sell- er was led by Jim Meisel ,

corridor, commonly known as “DNA Alley.” This location is within close proximity to the National Institutes of Health, the National Cancer Institute Headquarters, the U.S. Food and Drug Administration, the

Dek Potts , Andrew Weir , Stephen Conley and Matt Nicholson . HFF’s debt placement team representing the borrower was led by KevinMacKenzie , Cary Abod and Lee Redmond . n

Kislak’s Gralla arranges commercial sales totaling $41+m in Northern & Central NJ

sented the seller and Gralla represented the purchaser. - $1.321 million sale of two 7-unit apartment buildings on South Harrison St. and Elmwood Ave. in East Orange. Sweetwood and Gralla repre- sented the seller and Gralla represented the purchaser. - $1.17 million sale of a half- acre of land on which to build 19 units on Hillside Ave. in Metuchen. Gralla represented both parties. - $1,041,458 sale of a 14,878 s/f New Jersey Motor Vehicle Commission inspection station on South Second St. in Plain- field. Gralla and vice president Jeff Squires represented the seller and Gralla represented the purchaser. - $705,000 sale of 12 apart- ments on Verona Ave. in New- ark. Gralla represented both parties. In 2012, Gralla won the Kis- lak’s Rookie of the Year award and since then has completed transactions valued at more than $65 million. n

and worked i n c o n c e r t w i t h s e v - eral Kislak c o l l e a g u e s to complete them. “Julie had an extraordi- nary year,”

WOODBRIDGE, NJ — The Kislak Company, Inc. announced the recent sale of seven commercial properties in northern New Jersey with a to- tal of 152 residential units, four retail spaces, a half-acre of land and a Motor Vehicle Commis- sion inspection station. Sales associate Julie Gralla was in- strumental in each transaction

Julie Gralla

The Gateway

said Robert Holland , presi- dent. “The demand for multi- family and other investment properties is as strong as ever throughout New Jersey, and Julie did an amazing job get- ting properties for sale and procuring the right buyers for many of them.” The separate transactions include the: - $32.775 million sale of The Gateway, a new luxury apart- ment building with 57 units and 9,000 s/f of class A retail space in South Orange. Senior vice president Joni Sweet- wood represented the seller and Gralla and Sweetwood represented the purchaser. With a per unit price well

over $500,000, the sale of The Gateway exceeded the previ- ous record for the highest sale price per unit for an apartment building in all of Essex County by more than $100,000 per unit according to data available from CoStar. - $2.45 million sale of 28 units and one retail space at on Verona Ave. in Newark. Sweetwood and Gralla rep- resented the seller and sales associate Michael Salomon represented the purchaser. The per-unit sale of nearly $85,000 was among the highest among recent sales in north Newark. - $1.9 million sale of a 41- unit property on Lincoln Ave. in Orange. Sweetwood repre-


Upcoming Spotlights HEALTHCARE/MEDICAL PROPERTIES Owners, Developers & Managers Featuring Property Management. ............................................ Section B 2017 Forecast............................................. Section C



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