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

Ellisdale Construction & Development will be the general contractor MAC places construction financing for $25 million Arlington Project

ISSUE HIGHLIGHTS Volume 28 Issue 12 July 29 - August 11, 2016

A RLINGTON, VA — MAC Realty Advisors, LLC (MAC), on behalf of Pillars Development Group (Pillars) , success- fully placed a $17.5 million construction loan for the de- velopment of 4707 Columbia Pike, a 78-unit luxury con- dominium development that also includes 8,000 s/f of first floor, street level retail. The construction loan closed with a regional bank on Friday, July 8th. Ellisdale Construction & Development will be the general contractor. The project is expected to deliver in 2018. Pi l lars Development Group designed a residen- tial product that will appeal to urban focused buyers who appreciate Columbia Pike’s convenience, services and rec- reational amenities literally at our doorstep. “Capital, both senior debt and equity, continues to seek out these boutique sized, ur- ban in-fill sites,” indicated

SPO TLIGHTS

Section C BROKERAGE DIRECTORY HANNA LANGHOLZ WILSON ELLIS REP. GET AIR

4707 Columbia Pike

Bruce Levin, Executive Direc- tor with MAC. “The developer was ultimately very pleased with the lender and its seam- less approval and execution process.” New class A apartment

buildings plus a recently de- livered Giant Grocer, and the retail opportunities at nearby Bailey’s Crossroads and the Fashion Center at Pentagon City, together with numerous restaurants and the W&OD

trail right outside the door underscore the desirability of this location. Bruce Levin, Andrew McAllister and Nicholas Rubenstein led the place- ment effort for MAC. n

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For speaking and sponsorship information, please contact: Linda at 781-871-3456 or lchristman@marejournal.com UPCOMING CONFERENCES September 8, 2016 Pittsburgh Commercial Real Estate Forecast Summit September 15, 2016 3rdAnnual NJ Apartment/ Multifamily Summit

JLLrepresentsBridgeDevelopment in144,000 s/f lease to Boxed in Union, New Jersey

and I-78. The site offers ex- cellent visibility from both I-78 and the Garden State Parkway, as it sits directly in the northwest quadrant of the interchange. Bridge acquired the site in 2014, demolished the vacant buildings, and received si- gnoff from the township for completion of the shell build- ing in May 2016. Designed to accommodate up to two ten- ants, the speculative building was developed with concrete precast construction, 36-foot clear ceiling height, 55-foot column spacing and a 66-foot staging bay at the loading dock. Features include ESFR sprinkler systems, T-5 light- ing, 50 docks and 111 trailer positions. This is the first major project for Bridge since opening a new office in Parsippany, in Sep- tember 2014. Principals Mila- naik and John Porcek oversee operations of the office. n

UNION, NJ — Bridge Development Partners, LLC announced a lease for 144,000 s/f to Boxed at a class A, institutional-quality indus- trial building totaling 263,415 s/f in Union. Christopher Hile and Adam Citron of JLL represented Bridge in

Directory

Shopping Centers.............................................3-10A Owners, Developers & Managers............... Section B Brokerage Directory................................... Section C

Metro Plaza I and II

the transaction. “This is our first completed development since we opened a New Jersey office, and as the lease to Boxed.com shows, the building is proving to be highly desirable to warehouse and distribution tenants,” said Bridge principal Jeff Milanaik . “There is a lot

of interest in the remaining space, which can accommo- date a tenant up to about 120,000 s/f .” The building is located within six miles of the Port of New Jersey, with direct access via Route 22 and Route 287, and easy access from the Garden State Parkway

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