Mid Atlantic Real Estate Journal — August 31 - September 13, 2012 — 3A
www.marejournal.com
M id A tlAntic R eAl e stAte J ouRnAl Of Philadelphia-area Apartments Cushman & Wakefield arranges $1 million sale
They wrote the policy.
We make sure they write the check.
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ENSALEM, PA—Cush- man & Wakefield has orchestrated the $71
Marx along with senior managing director Joe Mes- sina and assistant director Chris Koeck, represented McManimon, Scotland & Baumann in the transaction. The landlord, Mack-Cali, was represented in-house by Rich Travaglini and Diane Chayes. n “With that influx, pricing has become increasingly aggres- sive, and class B communities with a vintage similar to Vil- lage Square have been trading near a six percent yield,” he said. n only inmetro Philadelphia, but also the larger Washington, D.C. to NewYork corridor,” Me- rin said. “But metro Philadel- phia in particular has emerged as a market for multi-family investors. In the early 2000’s, only a handful of communities were being sold in this market per year. Since 2010, with an influx of new buyers and capital targeting Philadelphia assets, we’re seeing a more heated and liquid investment sales market with a dozen or more communities being sold per year.”
ROSELAND, NJ — Studley represented McManimon, Scotland & Baumann, LLC in a long-term, 17,931 s/f lease at 75 Livingston Ave. McManimon, Scotland & Baumann took part of the sec- ond floor in the class A office building. Improved workplace strategies and efficiencies “The market for well-located, high-quality multi-family as- sets in metro Philadelphia has been robust with activity, and we have seen growing demand million sale of Village Square Apartments, a 694-unit com- plex in Bensalem. Karen Iman, Brian Whitmer, Andrew Me- rin, Marybeth Farris and Nick Karali of the firm’s Capital Markets Group (CMG) repre- sented the agent for the seller, Korman Residential, and pro- cured the buyer, Paradise Property, LLC. Village Square Apartments consists of 436 one-bedroom and 258 two-bedroom units in 56 two-story, brick-clad build- ings.
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Village Square Apartments
both from local owners and developers, as well as investors from outside of the region”, said Iman. “The fact that this offering attracted more than 120 ex- pressions of interest is a clear sign of the demand that’s out there for apartment assets, not
COMING SOON FALL PREVIEW We are inviting a select group of top executives to write an expert article about the current state of their respective marketplace and where they see it progressing in 2012. These experts will enlighten our readers on their industry and give a general overview of the marketplace in the field they represent
Studley’s Marx, Messina & Koeck broker 1,931 s/f lease reduced the firm’s office foot- print by almost 25% from its previous location.
“Favorable market condi- tions, along with a ‘right sizing’ of office space, allowed the firm to achieve substantial savings in overall occupancy costs,” said Studley senior managing director Christopher Marx.
OFFER DEADLINE: OCTOBER 5, 2012 6 Waterfront Industrial Properties * Florida * New Jersey * Maryland Act Now! BANKRUPTCY SALE Subject to Bankruptcy Court Approval
Deadline for Editorial: September 14, 2012 Publication Date: September 28, 2012
The Mid Atlantic Real Estate Journal welcomes all editorial dealing with the commercial/industrial real estate industry. Contact Linda Christman Today! 800-584 -1062 x203 lchristman@marejournal.com wwwmarejournal.com Editorial Requirements Include: Half page ad with 550 word article and a headshot of the author
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