5-11-12

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

Volume 24 Issue 9 May 11 - 24, 2012

Eastdil Secured brokered the sale of 733 10 th Street Jamestown Properties acquires 171,000 s/f class A office building for $140 million

Heller Urban Renewal sets foundation for Harrison Station ISSUE HIGHLIGHTS

W

ASHINGTON, DC— Jamestown Proper- ties has closed on its

to $7.3 million. Located off the Hudson River and across from Manhattan, the acquisition includes a 91,109 s/f Wal-Mart and a 146,583 s/f Lowe’s Home Improvement, both anchor tenants on ground leases pur- chased by Inland Real Estate Acquisitions. Joe Cosenza, vice chairman of The Inland Real Estate Group and president of Inland Real Estate Acquisi- tions, facilitated the transaction on behalf of the buyer, Inland Diversified Real Estate Trust. “I am very pleased to have closed on the purchase of what I believe to be one of the finest retail assets I have ever acquired,” Cosenza said. “Bayonne Crossing’s unique location draws from 525,000 people within a 5 mile radius, and it’s within an Urban En- terprise Zone that gives pa- trons a 50% break on the state sales tax.” ■ terrace; a tenant-only rooftop terrace with catering capa- bilities; a building security system with 24-hour access; concierge services; on-site property management; a se- cure underground parking garage; and iconic views of Washington, D.C., including the monuments, National Por- trait Gallery and the Verizon Center. “Washington D.C. is an ex- cellent market. We are pleased to have closed this transaction with Jamestown and look for- ward to delivering more high- quality, sustainable projects in the future,” said Rob Ward, executive vice president of Skanska Commercial Devel- opment. Centrally located five city blocks from the White House, the building is in close prox- imity to two Metro stations, retail stores, hotels and res- taurants. The sale of 733 10th St. was brokered by Eastdil Se- cured. ■

acquisition of 733 10th St., an office and retail development in Washington DC’s east end submarket, from Skanska. The class A, 171,000 s/f of- fice building was developed by Skanska starting in 2009, and was designed to give small and mid-sized companies a large-caliber presence with eight floors of office space. The LEED Gold certified 733 10th St. blends energy efficient floor- to-ceiling windows and a green roof system with an exception- ally efficient floor plate design. It also features 1,800 s/f of ground-level retail space. The acquisition of 733 10th Ave. follows two other sig- nificant acquisitions in the Washington D.C. market: the Georgetown Renaissance port- folio, acquired in fall 2010, and the Madison Hotel and office complex in January 2011. “Washington D.C.’s central business district continues to

Quarry Center — 300 Million Years in the Making! 23A

733 10th St.

be a strong focus for James- town,” said Michael Phillips, COO of Jamestown. “Our ac- quisition of 733 10th St. demon- strates an ongoing commitment to working with best-in-class developers, and acquiring in-

novative properties in dynamic urban markets.” Building amenities at 733 10th St. include a fitness center with locker rooms, showers and towel service; a landscaped third-floor outdoor

7-9 B

A shopping center in Bayonne, NJ Inland Real Estate Acquisitions purchases 356,647 s/f Bayonne Crossing for $75.2 million

23 rd Annual Conference & Expo Atlantic City Convention Center

BAYONNE, NJ — Inland Real Estate Acquisitions an- nounced the acquisition of Bayonne Crossing, a 356,647 s/f shopping center for $75.2 mil- lion, including future estimated earnout payments totaling up

Section C

Auctions ...................................................... 6A Financial Digest ...................................... 9-14A DelMarVa ..............................................15-22A New Jersey ...........................................23-33A Pennsylvania ......................................... Section B Directory Upcoming Spotlight INDUSTRIAL/DISTRIBUTION CENTERS CONTRACTORS & SUBCONTRACTORS May 25 th

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Bayonne Crossing aerial

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