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Training/parts distribution center to open at CenterPoint Commerce & Trade Park East Isuzu leases entire 134,442 s/f building recently developed by Mericle Comm’l

ISSUE HIGHLIGHTS Volume 28 Issue 6 Mar. 25 - April 14, 2016

J ENKINS, PA — Isuzu Commercial Truck of America, Inc. will open a training and parts dis- tribution center early this summer in CenterPoint Com- merce & Trade Park East, Jenkins Township, Luzerne County, Pennsylvania. The lease is for the entire 134,442 s/f building, which was recently developed on speculation by Mericle Com- mercial Real Estate Ser- vices . The project marks the first time Isuzu has combined a training center, to be named “Isuzu Truck University,” and a modern parts distribution center under one roof. Inside, about 97,000 s/f will be used for parts distribution and 30,000 s/f will be used for technical training. The remainder will be used as of- fice space. This training facility will complement Isuzu’s existing training center in Garden Grove, California. “We have long had a need for a training center in the eastern half of the country,”

nificant economic spinoff from Isuzu’s move to our area”. The real estate transaction was coordinated by Mericle vice president Bill Jones and Travis Boyd of CBRE ’s Newport Beach, California of- fice and Bill Wolf of CBRE ’s Allentown, Pennsylvania office. Mericle president and CEO RobMericle thanked Isuzu’s executives for choosing Cen- terPoint. “Tens of thousands of people pass by the building every day on Interstate 81,” he said. “We think seeing a name as prominent as Isuzu on the front of the building will help validate CenterPoint as a great place to do business.” Mericle Commercial Real Estate Services developed CenterPoint Commerce & Trade Park starting in 2006. With the addition of Isuzu Commercial Truck of Ameri- ca, the park is home to 38 ten- ants which together employ approximately 4,500 people. There are 27 buildings in the park that total 6.75 million s/f. n

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Isuzu building at CenterPoint Commerce & Trade Park East

restaurants when they visit for training.” Gerard Champi , president of the Greater Pittston Chamber of Commerce , congratulated Isuzu on its decision to open a first of its kind facility in CenterPoint and said he is optimistic that many chamber members and other local businesses will benefit from the project. “We expect the technicians who travel to our area for training will stay in our hotels, eat in our restaurants and shop at a variety of local retailers,” he said. “We envision a sig-

a proposed res ident ial , retail and office develop- ment located in Jersey City. Santander provided the loan. Executive vice president Keith Kurland and manag- ing director Aaron Appel led the JLL team on the transaction. “This project sits in the heart of significant, on-go- ing revitalization in Jersey City’s Journal Square,” said Kurland. “Backed by the sponsors’ broad expertise, the lending community was eager to play a role in the future of Journal Square.” One Journal Square will consist of 1,634 luxury mul- tifamily units, 121,640 s/f of retail space and 117,840 s/f of office space. The proposed development is located near the Journal Square Trans- portation Center and in close proximity to Manhattan. n said Brian Tabel , execu- tive director of marketing for Isuzu Commercial Truck of America. “The CenterPoint property is a flex building, so it’s perfect for our needs now, and it’s large enough to accommodate future growth. And it helps that it’s in a lo- cation that’s both convenient and beautiful.” “We’re also proud to be creating about 50 new jobs in the community,” Tabel added, “not to mention contribut- ing to the economy when our technicians stay in the area’s hotels and dine in its

JLL secures $25m in pre-development financing for mixed-use One Journal Square in Jersey City

JERSEY CITY, NJ — On behalf of Kushner Com- panies and KABR Group , JLL ’s Capital Markets ex- perts announced the firm has secured $24.5 million in pre-development financ- ing for One Journal Square,

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