R Magrill and Phillips, SIOR of Cushman &Wakefield | Thalhimer handles sale Ashley Capital buys 798,786 s/f dist. center on I-295/I-95 Corridor in VA
ISSUE HIGHLIGHTS Volume 31, Issue 16 Aug. 23 - Sept. 12, 2019
ICHMOND, VA — Cushman & Wakefield | Thalhimer is pleased to announce the sale of 7000 Hardware Dr. in Prince George County, Virginia and located in the Southeast Quadrant of the Richmond (VA) Industrial Market. Ashley Capital purchased the 798,786 s/f distribution center situated on 155.4 acres from Ace Hardware Corpora- tion as an investment. They plan to immediately update the property to include re- placing the roof, all 84 dock doors, replacing the lights with high efficiency LED fixtures, removal of an internal mez- zanine, painting the interior and exterior and several other functional and cosmetic up- grades. The property will be branded as the Virginia Gate- PISCATAWAY, NJ — Rockefeller Group , a real estate developer, owner and operator, along with joint venture partner PCCP, LLC , announced that Kiss Products, Inc., with its world head- quarters in Port Washington, NY, has purchased a 469,600 s/f distribution building at Rockefeller Group Logistics Center in Piscataway, N.J. for $65.7 million. The global beauty company will occupy the property-situated within
ARCHITECTS & ENGINEERS
7000 Hardware Dr.
access to I-95 and I-85 as well as Rte. 460 and the Port of Vir- ginia. Ashley Capital will re- brand the property as Virginia Gateway Logistics Center.
way Logistics Center. The property is the largest vacant building in the mid- Atlantic. Its strategic location on I-295 provides immediate
Evan Magrill and Bobby Phillips, SIOR of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the purchaser.
NAI DiLeo-Bram&Cushman &Wakefield execute 469,600 s/f sale totaling $65.7M Piscataway, NJ
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Group Logistics Center," said Richard Kim, CFO of Kiss Products, Inc. "Piscataway's proximity to the port of New- ark/Elizabeth makes it an at- tractive location for reaching our customers nationally." "I am thrilled that Kiss Products has chosen our com- munity at which to manage its logistics," Piscataway Mayor Brian Wahler said. "Kiss will be a valued corporate partner to Piscataway which along with Best Buy, Fujitsu and Humanscale will thrive at what is now a state-of-the- art center for commerce that is providing good jobs for hard-working residents and welcome revenue to the Town- ship." The Cushman & Wake- field team of Jules Nissim, Stan Danzig , and Marc Petrella serves as the agent for the development and rep- resented Rockefeller Group in the transaction. Kiss was rep- resented by Greg Brown and TomKirczow of NAI DiLeo- Bram & Co. The acquisition was financed by Citibank, City National Bank and Shinhan Bank America .
Rockefeller Group Logistics Center Kiss Products building
the 2.2 million s/f state-of- the-art Rockefeller Group Logistics Center- this summer. "The interest in Rockefeller Group Logistics Center from prospective users that we've experienced to date has not only met our expectations for the project, but has actually exceeded them," said Heath Abramsohn , vice president and regional director for Rock- efeller Group's NJ/PA Region. "This latest transaction with Kiss is demonstrative of the market's appetite for well-lo- cated industrial development in New Jersey and is a further testament to the quality of
next-generation product that we're building in Piscataway." The facility, which boasts an advanced-functionality de- sign, will accommodate Kiss' growing logistics needs as de- mand continues to strengthen from its consumer base and national retail partners in the region. Through the opening of its new logistics facility, Kiss anticipates that it will create more than 250 jobs in Piscataway. "Kiss is excited to be relocat- ing its distribution center to Piscataway and consolidating our four Long Island distribu- tion locations at Rockefeller
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