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R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news

ISSUE HIGHLIGHTS Volume 24 Issue 5 March 16 - 29, 2012 Northern NJ POM: Hance Construction project reclaims dormant industrial site

TIAA-CREF awards leasing & property mgmt. assignments Cassidy Turley secures $70.5m permanent financing for AMB/Prologis portfolio

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selected by TIAA-CREF, a fi- nancial services organization, to provide leasing and property management services for 1616 N. Fort Myer Drive in Arling- ton, VA. Cassidy Turley’s Chris Sowick, Krysta Hardiman, Dar- ian LeBlanc and Laurie McMa- hon will handle the leasing of the 303,262 s/f ClassAbuilding. Reggie Mullins will handle the property management. “This assignment is a testament to the integrated commercial real estate services that Cassidy Turley prides itself on provid- ing our clients,” commented Joe Stettinius, President of Cassidy Turley. “We look forward help- ing TIAA-CREF create value in this asset by providing our best-in-class leasing and prop- erty management services,” he continued. 1616 N. Fort Myer Drive is a 19-story building located in the Rosslyn submar- ket of Arlington. Major tenants include John Snow, Inc., Pho- ton Research Associates, Inc., Smart Border Alliance and the GSA. ■ and desirable corporate head- quarters, this acquisition corresponds with our overall conservative, disciplined in- vestment strategy,” said Rob- ert Micera, chief investment officer, office and industrial, for Cole. “The Morris County, New Jersey, office submarket boasts great fundamentals, considering its strong eco- nomic base and educated workforce, and we are pleased to add The Medicines Com- pany headquarters to our growing portfolio of corporate real estate.” Constructed in 1979, the facility was expanded and re- modeled in 2008 to make it a premiere Class A office space. Robert Corry, vice presi- dent, acquisitions, office & industrial, represented Cole in the transaction. Kevin P. Welsh, senior vice president with CBRE, represented the seller. ■

ASHINGTON, DC — Cassidy Turley a leading commercial

real estate services provider in the U.S., announced that it secured $70.5 million in debt financing for the AMB/Prolo- gis Maryland Portfolio, which consists of 24 office buildings located in suburban Mary- land. Cassidy Turley’s John Campanella, senior managing director and Paul Spellman, associate vice president, ar- ranged the bank loan on behalf of the owner, a New England based Institutional Investor. The AMB/Prologis Maryland Portfolio is a well-leased, multi- tenanted office portfolio totaling over 800,000 s/f, with buildings located in the White Marsh and Baltimore-Washington Corridor submarkets. Both submarkets have a large Federal Govern- ment presence and are expe- riencing a growth in presence of the defense/cyber security industry. In other news, Cassidy Tur- ley, announced that it has been

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Endurance RE Group acquires a $4.36m warehouse building

1616 N. Fort Myer Drive

Cole RE Investments acquires The Medicines Company Headquarters for $53 Million

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PARSIPPANY, NJ — Cole Real Estate Investments an- nounced the acquisition of a 176,000 s/f, Class A office property located in Parsip- pany, leased to The Medicines Company. The property, which Cole purchased from The

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BEST of 2011

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R EAL E STATE J OURNAL ’s

Section C

Financial Digest .................................. 7-12A New Jersey ........................................ 13-26A DelMarVa ........................................... 27-32A Pennsylvania .......................................... Section B Best of 2011 ........................................... Section C Directory Upcoming Spotlight COMMERCIAL OFFICE PROPERTIES March 30th

8 Sylvan Parkway

Hampshire Companies for $53 million in an all-cash transac- tion, is located at 8 Sylvan Parkway and serves as the pharmaceutical firm’s global headquarters. There are approximately 12 years remaining on the current lease term, with two

five-year renewal options. The Medicines Company is a global pharmaceutical company fo- cused on advancing the treat- ment of critical care patients in a hospital setting. “With the location of the property, long remaining lease term, scheduled rent increases

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