Real Estate Journal — March 24 - April 13, 2017 — The Best of 2016 — 3C


M id A tlantic

HFF Novo Nordisk Headquarters Princeton, NJ The Best Largest OFFICE Sale of 2016 Cushman & Wakefield 800 Scudders Mill Rd. Plainsboro, NJ

Size: 761,824 SF Brokers: Jose Cruz, Andrew Scandalios and Kevin O’Hearn

Size: 761,824 SF Brokers: Cushman &Wakefield’s Metropol- itan Area Capital Markets Group, Cushman & Wakefield’s Equity, Debt & Structured Fi- nance team, Lee & Associates – New Jersey Novo Nordisk’s 762,000 SF North Ameri- can HQ traded for $305 million, marking the largest 2016 single-asset sale in New Jersey. Cushman & Wakefield’s Metropolitan Area Capital Markets Group represented the seller,

HFF marketed the Novo Nordisk HQ’s on behalf of the seller, Intercontinental Real Estate Corporation. The property encom- passes nine interconnected buildings situ- ated on 58 acres at 800 Scudders Mill Road within the amenity-rich Princeton Forrestal Center Office and Research Park in Princ- eton. The LEED Silver certified building features state-of-the-art technology, ener- gy-efficient systems and design upgrades such as a new façade, 10-foot glass exterior walls and a two-story, 30-foot lobby with floor-to-ceiling glass.

a partnership of Ivy Equities, LCOR, Inc. and Intercontinental Real Estate Corp. Lee &Associ- ates – NJ advised the purchaser, Hana Asset Management Co. Cushman &Wakefield’s Equity, Debt & Structured Finance team arranged acquisition financing and future funding tied to the planned expansion of the tenant. The 58-acre, Class A property sits in the heart of the Princeton market; Novo Nordisk leases 563,000 square there on a long-term basis.

Divaris Real Estate, Inc. Southport Trade Center City Virginia Beach, VA

Lee & Associates Novo Nordisk Headquarters Princeton, NJ

Size: 761,824 SF Brokers: Ken Lorman

Size: 30,874 SF Brokers: Michael Divaris, Alex Divaris and Jason Oliver description DRE represented Southport Elizabeth Investors, Inc. in the sale, lo- cated at 349 Southport Circle to Adrianos Touzos, a Virginia Beach-based investor. Southport Trade Center is a single-story office/flex building located within the Central Business District, one mile south of the Town Center of Virginia Beach. The property was fully leased to tenants: Pen- noni, Mosquito Joe and Tradesmen. The property is leased by Divaris Real Estate.

Lee & Associates advised a syndicate of three lead- ing Korean investors in the acquisition of Novo Nordisk’s North American headquarters located in Princeton, New Jersey. The office complex closed in August 2016 at a purchase price of $305 million. The deal marks the largest single-asset sale in New Jersey in 2016. The investors were attracted to trophy quality prop- erty due to the strength of the tenant, 15-year non- cancellable lease with contractual 2% annual steps and prime location in heart of the Princeton market. The lease payments are guaranteed by Novo Nordisk A/S, an “AA” rated global pharmaceutical company.

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