8A — January 30 - February 12, 2015 — Economic Development — M id A tlantic
Real Estate Journal
E conomic D evelopment
P Colliers Int’l. concludes sale of Pennsauken Office Building Airport Industrial Park Physical and Tactical Healthcare Services, LLC receives incentive package by the NJEDA
signment for our office, since we were trying to sell a well maintained office building located in the middle of an industrial park,” said Marc Isdaner, a principal in Colliers International’s Mount Laurel office. “However, we were able to overcome that ‘obstacle’ by creating and implementing a direct marketing campaign for this property.” The Airport Industrial Park is situated between Routes 38, 70 and 130, providing direct access to Routes 676 and the Ben Franklin Bridge. n EDA announces new approvals under the Retail Fuel Station (RFS) Program Trenton, NJ — In sup- port of the Christie Adminis- tration’s ongoing commitment to addressing emergency fuel supply challenges highlighted during Superstorm Sandy, the NJ Economic Develop- ment Authority (EDA) an- nounced new approvals under the Retail Fuel Station (RFS) Program. The $7 million grant program allows tar- geted retail fuel stations, on and near evacuation routes, faster and more reliable ac- cess to back-up power during an energy emergency. This round of 29 approv- als represents grants total- ing $1.23 million. To date, 62 stations have completed required environmental and design reviews and can now move forward with plans to install back-up power solu- tions using grants provided through the RFS Program. Of the 62 approvals, 42 will install permanent generators, while 20 will rely on “quick connect” devices, which pro- vide connection points for mobile generators. Grants for the approved stations total more than $3 million. “The RFS program is a critical component of the State’s overall strategy to rebuild in a resilient man- ner,” said EDA CEO Michele Brown . “Each new approval is meaningful for the sense of security it will help to foster on a very local level during emergencies.” The RFS Program is funded through the federal Hazard Mitigation Grant Program. n
ADT had been the only tenant to ever occupy the building. The buyer, Physical and Tactical Healthcare Services, LLC (PATHS), was recently awarded an incentive pack- age by the New Jersey Eco- nomic Development As- sociation (NJEDA) related to the Economic Opportunity Act of 2013. The building was ideal for PATHS because of the proximity to their current Cherry Hill facility as well as the abundant amount of park- ing spaces. “This was a challenging as-
ennsauken, NJ – Colliers Interna- tional’s Southern New Jersey office concluded the sale of an 18,240 s/f office building located in the Air- port Industrial Park at 7895 Browning Rd. in Pennsauken. The Colliers team of Evan Zweben, Ian Richman , and Marc Isdaner marketed the facility on behalf of The Bloom Organization. The property sold for $1.75 million. The Bloom Organization built 7895 Browning Rd. in 1985 for ADT, who vacated the building earlier this year.
7895 Browning Rd.
WHENEXECUTIONMATTERS, M&TDELIVERS. Acquisition of 196-Unit Garden Apartments Yardley, PA $27,075,000 $10,137,000 $23,025,300 $20,000,000 FHA 221(D)(4) LOAN NewConstruction Financing 160-Unit Garden Apartments Frederick, MD FREDDIEMAC LOAN Acquisition of 120-Unit GardenApartments Dover, DE CONDUIT LOAN Acquisition of 182,583 sf Retail Center Phillipsburg, NJ FANNIEMAE LOAN
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