R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news
ISSUE HIGHLIGHTS Volume 25 Issue 7 April 12 -25, 2013
Jones Lang LaSalle and JM Zell Partners represents Sanofi Colliers International arranges 198,000 s/f long-term lease on behalf of Ashland
arsippany, NJ — In one of the largest real es- tate transactions in the
opportunity through existing state-of-the-art infrastructure for life sciences companies to grow in or relocate to New Jersey.” “Ashland’s choice of Bridge- water as a first-class environ- ment for its specialty chemical business unit comes at the culmination of several factors,” added John Cahill , also of Colliers International’s Life Sciences Practice. “Ashland was drawn to the facility’s quality, design, infrastructure, and amenities, as well as to the state’s highly skilled workforce and intellectual property, and access to major highways.” Bryn Cinque and James Bailey , with Colliers Interna- tional, also represented Ash- land in the transaction. n
state so far this year, Colliers International has arranged a long-term, 198,000 s/f lease on behalf of Ashland, Inc. at 1041 Rte. 202-206 in the New Jersey Center of Excellence complex in Bridgewater. Ashland, set to utilize the facility for laboratory and office space, will relocate its specialty ingredients unit from Wayne to the new location later this year. “New Jersey has long been considered a premier national life sciences cluster and con- tinues to undergo a paradigm shift,” said John Cunning- ham , national director of Col- liers International’s Life Sci- ences Practice Group, who, BALTIMORE, MD — St. John Properties, Inc. has initiated construction activi- ties on more than 320,000 s/f of commercial office space spanning an area from Aber- deen Proving Ground (APG) in Harford Cty. to Ashburn Technology Park, located in Northern VA. Configured as a mix of single-story R&D/flex, single-story office, and multi- story commercial office prod- uct, the five new buildings are being built on a speculative basis with no pre-leasing com- mitments.
Klein of Kay Realty facilitates 495,000 s/f
1041 Rte. 202-206
with Larry Bergen of Colliers’ Philadelphia office, led the leas- ing efforts on behalf of Ashland.
“Large single-occupant cam- puses like The Center of Ex- cellence at Bridgewater create
Project of the Month : The New Green Tree School
St. John Properties initiates construction on 320,000+ s/f of speculative office space in MD & VA
8135 Maple Lawn Blvd.
“Despite persistent reports of economic uncertainty, gen- eral business indecision and a perceived slowdown in leas- ing activity, we see pockets of tremendous opportunity and sustained growth in select submarkets in the MD and Northern VAmarketplace,” said Jerry Wit , senior VP, market- ing for St. John Props . • In Harford Cty., the con- struction activity features 6170 Guardian Gateway, a single- story, 25,160 s/f class “A” office building located within The
Government and Technology Enterprise (The GATE) project, a 416-acre business community located inside Aberdeen Prov- ing Ground (APG). • Construction on 809 Pin- nacle Dr., a 51,240 s/f flex building, is underway at BWI Technology Park II in Anne Arundel County near the BWI Airport. • Through a joint partner- ship with Greenebaum En- terprises, Inc. , St. John Prop- erties is constructing 8135 Maple Lawn Blvd., a four-
story, 140,000 s/f class “A” office building within Maple Lawn, a 600-acre mixed-use business community in Howard County. Development of Maple Lawn includes 388,000 s/f of exist- ing office space, as well as the development rights for more than 800,000 of additional s/f of office space. • In Northern VA, construc- tion is underway on 44190Wax- pool Rd. and 44200 Waxpool Rd., two single-story 54,120 s/f buildings that are expected to be delivered in May. n
DelMarVa...................................... 5-9A Financial. .................................. 10-16A New Jersey............................. Section B Southern NJ Spotlight. .................. 5-7B Pennsylvania.......................... Section C Eastern PA Spotlight...................... 5-8C
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