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

Creative Financing Spotlight ISSUE HIGHLIGHTS Volume 25 Issue 11 June 14 - 27, 2013

Retaining Cushman & Wakefield as property manager JMC Holdings acquires $40 million, 800 Corporate Dr. from the Silver Companies


TAFFORD, VA — JMC Holdings, LLC announced its $40 mil-

grossing U.S. Defense Contrac- tors. With its location 35 miles south of D.C. and its adjacency to Quantico Marine Corps Base, we are thrilled about the acquisition and relative yield it provides.” 800 Corporate Dr. is one of four brand new class A office properties located within the 85-acre Quantico Corporate Center. The office campus features 450,000 s/f of office space built to date, and a selection of onsite retail and restaurant offerings. JMC Holdings was repre- sented by Kameron Zitel- li of Berko & Associates throughout the transaction. The Silver Companies was represented as seller by Da- vid Newman , a VP at Sil- ver Companies, and by Joe Pfahler of Coldwell Banker Elite . ■

NEWTON, NJ — NAI James E. Hanson, a New Jersey-based commercial real estate firm announced that it represented both par- ties in the sale of a 109,751 s/f industrial complex at 75 Mill St. in Newton. The property, which con- sists of four buildings on 4.16 acres, changed hands for $1.45 million. NAI Hanson vice president Sig Schorr lion acquisition of 800 Cor- porate Dr. from the Silver Companies. 800 Corporate Dr. is a 135,732 s/f class A office property, situated on a 7.5-acre parcel of land at Quantico Corporate Cen- ter in Stafford County, VA (QCCS), 600 yards from Ma- rine Corps Base Quantico. The deal marks the NYC- based investment company’s first venture outside the New York market. JMC Holdings purchased the newly constructed prop- erty, which is fully leased by seven tenants that will remain in place under their current lease agreements. As part of the acquisition, JMC Holdings will retain Cushman & Wakefield as

800 Corporate Dr.


property manager for the building. “JMCHoldings has been look- ing to expand its investment portfolio beyond NewYork. 800 Corporate Dr. provided a well- timed opportunity to capital- ize on a dynamic market with

tremendous tenant demand for class A office space,” said Matt Cassin , founder of JMC Hold- ings. “The long-term viability of the companies based at 800 Corporate Dr. also appealed to us; two of the largest tenants have consistently ranked as top

Gerber/Somma locks-up $2m sale

NAI Hanson represents both parties in sale of 109,751 s/f industrial complex in Newton, NJ


LVEDC continues mission under new Leadership



Upcoming Spotlight June 28, 2013 - MID YEAR REVIEW Financial........................................ 11-19A New Jersey .................................Section B Northern New Jersey....................... 5-11B Pennsylvania ..............................Section C Central PA........................................ 5-12C

75 Mill Street, Newton, NJ

and sales associate Joseph Vindigni oversaw the trans- action. The seller was Newton Industrial Park, LLC. The buyer, Darlington Heritage Properties, LLC, intends hold the site for investment

opportunity because there is a high return with additional upside potential.” The two-story property has 21 units with ceiling heights totaling 15 feet, five tailgates and one drive-in. The facility has a parking ratio of 2.5 per 1,000 s/f. ■

purposes. “At closing, the property was approximately 80 per- cent leased with approxi- mately 22,000 s/f of available space,” Schorr said. “This situation afforded the buyer a great investment


Made with FlippingBook Annual report