S hopping C enters N ew J ersey
Real Estate Journal — New Jersey — Section B
M id A tlantic
The EDA recognized the importance of F&S Produce’s move with $21.7m in state tax credits Cushman &Wakefield brokers sale of 580,000 s/f manufacturing/warehouse facility on 65 acres
ineland, NJ —Com- mercial real estate ser- vices firm Cushman & Wakefield, Inc. served as agent to a Fortune 500 food manufacturer in the sale of 500 W. Elmer Rd., a 580,000 s/f manufacturing/warehouse facility on 65 acres in Vineland, to F&S Produce Co. Inc. The new location satisfies F&S Produce’s manufacturing needs and cuts six months from the company’s original expan- sion plan of building another facility in Cumberland County, to increase its production ca- V HI-LIGHTS December 8 - 21, 2017 The value of proper due diligence when acquiring real estate
and communicative in address- ing our needs as well as the seller’s needs,” said Sam Pipi- tone, F&S Produce president and CEO. “This significant facility sale to F&S Produce represents a successful outcome of job re- tention and economic growth in the City of Vineland and for the state of New Jersey,” said managing director Matthew Marshall , who represented the seller with Brian Hilger of Cushman & Wakefield’s Philadelphia office supported by Gerry Blinebury of the Harrisburg office. The New Jersey Economic Develop- ment Authority recognized the importance of F&S Pro- duce’s move to job creation and retention in the region with $21.7 million in state tax credits. According to the economic development orga-
Jaime Zimmel also brokered the lease of 18 Self Blvd., a 20,000 s/f freestanding ware- house in Alard Industrial Park, Carteret, to Aeronet, Inc., a worldwide logistics and shipping company. “They liked the building as it was move in ready and located right off Exit 12 of the New Jersey Tpke.,” he said. Alard Industrial Park, which consists of 11 flex build- ings totaling 140,000 s/f, is handled exclusively by Zimmel Associates. Jason Zimmel , sales as- sociate, Zimmel Associates, arranged the lease of 1,200 s/f of office space at 1090 King Georges Post Rd., Edison, to Transportation Services of America; and the lease of ap- proximately 1,200 s/f at 906 Oak Tree Rd., South Plain- field, NJ, to ASC Corp., a staff- ing firm. n nization Choose New Jersey, the Garden State is home to a thriving $105 billion food industry and agriculture sector that continues to grow, with 1,900 food manufacturing com- panies employing nearly 44,000 people in total and, earning New Jersey Saveur magazine’s moniker of “most edible” state in America. Cushman &Wakefield’s over- all portfolio of work on behalf of food manufacturers and cold chain facilities in southern New Jersey continues to grow, gen- erating more than 1.5 million s/f in sales and leasing activity in the region during the past 12 months. “In the era of healthy diets and farm-to-table dining, we see sustainably grown food, process manufacturing and cold chain logistics returning as a major economic engine for the Garden State,” Marshall said. n
500 W. Elmer Rd.
EDISON, NJ , — Zimmel Associates reports recent deals. “As a company, we have been extremely active in the industrial market and are seeing good opportunity for tenants in the office market,” said Jordan Zimmel , vice president, Zimmel associ- ates. Recent deals at the firm include: Jordan Zimmel arranged a 15-year lease of 22,128 s/f at One Murray Rd., East Ha- nover, NJ, to Central Jersey Volleyball Academy. “This type of business requires high ceilings and clear span space with no columns, which can be hard to find,” said Jordan Zim- mel. “One Murray Rd. is a new building and met all the ten- ant’s space and demographic requirements. It is zoned for recreational use and is lo- cated near schools,” he adds. Zimmel represented Central Jersey Volleyball Academy in the transaction. The landlord is Diamond City Sports, LLC. Scan Shipping, an interna- tional shipping and logistics company, leased 5,000 s/f of office space at 140 Smith St., Keasbey, a five- story 24,000 s/f office building located just out- pacity. The manufacturing and warehouse facility at 500 W. Elmer Rd. offers four times the space of the current facilities to accommodate F&S Produce’s future expansion. F&S Produce has a long- standing manufacturing pres-
ence in Southern New Jersey including two production facili- ties in Rosenhayn, as well as a trucking operation and freezer warehouse. “I was happy with how the Cushman &Wakefield team conducted themselves. They were very professional
Zimmel Associates reports diverse deals in North & Central NJ station, to F. C. Foods for a sale price of $1.1 million in a 1031 exchange. “We were able to negotiate a favorable sale price as the building had been vacant for quite some time. The new owner plans to fully renovate it to meet approvals for food manufacturing,” said Jaime Zimmel.
Sean Clifford, Brockerhoff Environmental Services 2B
18 Self Blvd.
5-12B SPO TLIGHT Northern NJ
140 Smith St.
side of Raritan Center. “The landlord, Parkway Corporate Center, LLC, did a complete build-out to tailor the space for Scan Shipping,” said Jor- dan Zimmel, who handles the building for owner Parkway Corporate Center, LLC. Zim-
mel represented the owner and the tenant in the transaction. Jaime Zimmel , vice presi- dent, Zimmel Associates, bro- kered the sale of 19 East Eliza- beth Ave., Linden, a 14,000 s/f two-story industrial building located near the Linden train
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