S hopping C enters N ew J ersey

Real Estate Journal — New Jersey — Section B


M id A tlantic

Rehabilitation plan includes expanded loading, energy efficient lighting & newHVAC systems Penwood Select Industrial Partners III, L.P. closes on 203,000 s/f at 20 Duke Road in Piscataway

HI-LIGHTS november14 - 27, 2014 The 203,000 s/f building is located within 1.5 miles of two interchanges of I-287 and eight miles west of the inter- section of I-287 and I-95. iscataway, NJ — Penwood Real Estate I nv e s tmen t Man - agement, LLC (Penwood), through its third value-added investment vehicle, Penwood Select Industrial Partners III, L.P. announced that it has closed on its first acquisition in New Jersey, 20 Duke Rd. in Piscataway. P

rail siding and site egress can also be expanded on an as needed basis. Freeman notes that, “upon completion, the property will offer among the best combination of features and location among its peer group.” The project will immediate- ly be marketed for lease and/ or sale with availability pro- jected for the spring of 2015. Richard Chase , managing director at Penwood, adds, “Penwood is pleased to expand its footprint with such an attractive investment oppor- tunity and is actively seeking additional investments in New Jersey.” The principals of Penwood have extensive experience developing and/ or rehabilitating industrial projects in this industrial market as well as in Southern California. n

20 Duke Rd.

“The central location and functionality of the property initially attracted us to this opportunity,” said Howard Freeman , managing direc- tor at Penwood. The prop- erty previously served as a

satellite printing plant and distribution center for the Newark Star Ledger news- paper. Penwood plans a sig- nificant rehabilitation of the rail-served building to further enhance the appeal of the

property. The rehabilitation plan includes expanded load- ing, energy efficient lighting, new HVAC systems, upgraded sprinkler systems, office im- provements and various site and exterior upgrades. The


Recent leasing success spurs development in Somerset, New Jersey Sentinel Data Centers to double size of NJ-1 facility totaling 200,000 s/f & 20 megawatts of critical load


Case finalizes purchase of $11.25m senior note

SOMERSET, NJ — Senti- nel Data Centers announced that it will significantly expand its NJ-1 facility in Somerset, adding up to 200,000 gross s/f and 20 megawatts of critical load. The Phase III expansion comes as the existing 230,000 s/f NJ-1 facility nears capac- ity and demand for Sentinel’s large-user focused offering remains strong. Sentinel has pre-leased capacity within the Phase III expansion. “We are grateful for the continued validation of our of- fering by the most discerning large users in the region,” said Josh Rabina , co-president of Sentinel, “We will never be all things to all people, but for quality-sensitive users, we believe our NJ-1 facility will continue to set the standard in the region.” Sentinel’s NJ-1 Phase III design will integrate latest best-practices from across the industry to maximize re- liability, scalability, energy efficiency and ease-of-use.


Bussel Realty brokers sale in Union for $6.6m

ALSO INside Beverly Blum........................ 8B CREW NJ.............................. 14B IOREBA................................ 21B www.marejournal.com 4B

NJ-1 facility in Somerset

Sentinel will continue to utilize modular building blocks to en- able customization of power densities and resiliency levels on a granular basis within each customer’s dedicated suite. “Today’s IT landscape is

highly dynamic, and we are committed to continuing to align our model with our us- ers’ evolving needs” said Todd Aaron , co-president of Sen- tinel, “Flexibility remains a cornerstone of our offering

and is central to insuring our customers’ long-term success. We are thrilled to be bringing additional product to New Jer- sey that we feel will continue to exceed the market’s highest expectations.” n

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