12C — March 28 - April 10, 2014 — The Best of 2013 — M ID A TLANTIC Real Estate Journal
www.marejournal.com
Katz Properties Golden Ring Plaza — 158,678 SF — Binswanger Ellis Preserve — 233,000 SF — The LARGEST RETAILACQUISITION of 2013 CBRE 4301 Tonnelle Avenue — 70,000 SF —
Ellis Preserve City, State: Newtown Square, PA
Rosedale, MD This transaction, a 98% occupied 158,678 s/f Giant Food and Marshalls anchored shopping center located 8.5 miles northeast of Baltimore, MD, was a natural one for us. The shopping center is located just off of Interstate 695, less than 1 mile from Interstate 95, on a heavily trafficked corridor with a daily traffic count of 40,000 cars. In addition to the stability of the center, there should be significant value add potential when we lease a currently vacant fast food pad and potentially add additional GLA through redevelopment of the parking field.
Size (square footage/acreage): 233,000
Broker(s): Scott Williams and David Binswanger
Sunoco, Inc. acquired two buildings totaling
233,000 s/f at Ellis Preserve with plans to com-
Name of property: 4301 Tonnelle Avenue, N. Bergen, NJ Size (square footage/acreage): 70,000 s/f Broker(s): Sam Bernhaut Self storage, post management.
mence renovations of the existing buildings.
The scheduled completion is estimated Q2 2015.
The LARGEST LAND SALE of 2013
NAI Hanson 4717 Freemanburg Rd -— 119 ACRES —
Cushman & Wakefield NJ Montclair Redevelopment Site — 3.4 ACRES —
Rock Commercial Stonebridge Business Park
NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, today announced the sale of 47 acres of a 100-acre land site in Bethlehem, Pa. The first phase of a $19-million acquisition, the transaction paves the way for the development of Madison Farms, a large-scale, mixed-use residential and retail project. The buyer, a joint-venture partnership of KRE Group and The Silverman Group, recently broke ground on the first phase of the development, which will feature 294 apartments and 123,000 square feet of retail space. The retail component will be anchored by a new ShopRite grocery store, which is expected to open by the first quarter of 2015. Located on FreemansburgAvenue near Highway 33, opposite the new St. Luke’s Cancer Center campus, Madison Farms will eventually feature 837 residences. Amix of single-family homes, townhomes and carriage homes are to be added in later phases of the project. A variety of dining establishments, shops and conve- nience stores are planned for the retail space.
City, State: Montclair, NJ Size (square footage/acreage): 3.4 acres
Broker(s): Andrew Merin, vice chairman; David Ber- nhaut, vice chairman; Gary Gabriel, executive vice president; Brian Whitmer, senior director Commercial real estate services firm Cushman & Wakefield has completed the sale of 654 Bloomfield Avenue. The Bloomfield Avenue property is part of the Montclair Center Gateway Development Plan and will include 259 residential units and 571 park- ing spaces, as well as 23,055 s/f of office space and 22,340 s/f of retail space. Cushman & Wakefield represented the seller, DCH Motors. The buyer was a joint venture between LCOR and The Pinnacle Companies.
New Freedom, PA Size (square footage/acreage) 57.04 Broker(s): Kevin Hodge
200+ acre premier business park that includes ame- nities such as a hotel, restaurants, office and other supporting services. With access right off of I-83, drive time is quick to both York and Baltimore for employee and customer ease. Access to Interstates: 70, 76, 78, 81, 83, 95, & 695. Anticipated comple- tion of the first phase of new campus is anticipated for 2017.
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