12-28-18

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E CBRE National Partners team experiences exceptionally active year CBRE arranges $83Msale of 570,000 s/f ware- house and distribution center in Edison, NJ

ISSUE HIGHLIGHTS Volume 30, Issue 24 Dec. 28, 2018 - Jan. 10, 2019

properties in Northern NJ. The 10-buidling portfolio consists of light industrial properties total- ing 639,681 s/f. The portfolio is strategically located along the I-95 and I-80 corridors, in four industrial submarkets which provide convenient access to NYC and the surrounding area. The team was also respon- sible for arranging the $43 million sale of the I-78 Logistics Park from Opus Investments/ KTV to Bridge Develop- ment Partners . The 365-acre, master-planned development that will yield over 3.5 million sq. ft. of Class A logistics space is located along the Interstate 78/81 corridor in Lopatcong and Phillipsburg, New Jersey. National Partners also rep- resented the seller in the sale of 355-375 Davidson Mill Rd., a 735,632 s/f distribution center in Jamesburg, New Jersey which traded for $99.5 million.  sibility to multiple highways have prepared these facilities to be an essential part of that process, which is evident in its current tenant base.” “Given the properties’ loca- tions within minutes from center city Philadelphia as well as their proximity to last mile delivery locations in Pennsylvania and New Jersey, collectively the assets serve as strong addition to our growing portfolio,” said David Elkouby , president, American Equity Partners. The featured property within the portfolio is a 164-door, 95,000 s/f truck terminal lo- cated on 14+/- acres at 3820 N. 2nd St., which also includes 8,000 s/f of office space. The ad- ditional properties are located near The Port of Philadelphia and its airport. The portfolio offers easy access to last mile delivery locations not only to Pennsylvania, but to South- ern NJ via U.S. Route 1, I-76 and I-95. Its current tenants include H&M, Fresh Direct, Amazon among others. 

DISON, NJ — CBRE announced the $83 mil- lion sale of Middlesex Logistics Center in Edison. A joint venture of ASB Real Es- tate Investments and Cohen Asset Management acquired the fully leased, class A prop- erty located at 549 Mill Rd., from JP Morgan Asset Man- agement . CBRE National Partners Brian Fiumara, Mike Hines and Brad Ruppel , along with TomMonahan , negotiated the sale on behalf of JPMorgan As- set Management. “This sale is yet another indication of how active the in- dustrial market is in New Jer- sey,” said Fiumara, executive vice president. “We are seeing product trading at record highs throughout the state and there seems to be very little indica- tion that this will subside in the near term.” Completed in 2014, the SHORT HILLS, NJ — The Blau & Berg Company , a prominent commercial real es- tate brokerage firm in the New Jersey and Tri-State area since 1932, recently brokered the sale of a 195,205 s/f portfolio of six industrial properties on a total of 29.7 acres in lower Northeast Philadelphia for $17.5 million to American Equity Partners , a real estate investment and development

SPOTLIGHTS

ANNUAL REVIEW Section C

HEIDENBERG PROPERTIES GROUP CONTINUES 2018 GROWTH TRAJECTORY THROUGH DEVELOPMENT & ACQUISITION

Middlesex Logistics Center

building features 36-foot clear heights, 101 loading docks and parking for 190 cars and 135 trailers. The property is in close proximity to NewYork City and the Port of Newark-Elizabeth. Led by Fiumara, CBRE Na- tional Partners has had a very active year in the State of New Jersey, arranging the sales of 12 properties in 2018

totaling $561 million in total consideration. The 12 sales transactions combined for more than 7.5 million s/f. sold. In 2017, the team successfully completed 16 transactions to- taling 7 million sq. ft. with an aggregate value of $1 billion. Major transactions include representing Sitex Group in its disposition of a portfolio of

7A

2019 MAREJ EVENTS

The Blau & Berg Company handles sale of 195,205 s/f industrial portfolio on 29.7 acres in Philadelphia

February 7, 2019 5th Annual New Jersey Industrial Conference For speaking and sponsorship information, please contact: Lea at 781-740-2900 or lea@marejournal.com

195,205 s/f portfolio of six industrial properties on a total of 29.7 acres in lower Northeast Philadelphia

Directory

company based in Edison, NJ. Alex Conte, CCIM, SIOR , Jason Crimmins, CCIM, SIOR and Kenneth Crim- mins, CCIM, SIOR and Peter Murano, SIOR of The Blau & Berg Company were the pro- curing brokers representing both the buyer and seller in the transaction. “Situated off the Betsy Ross Bridge, this unique portfolio served as an exceptional ad- dition to AEP’s portfolio who was looking for a value-add investment in which to rein- vest their capital via a 1031

Exchange”, said Jason Crim- mins, president, The Blau & Berg Company. “As more and more consumers turn to on- line shopping, fast ecommerce fulfillment expectations are a priority. The ‘last mile’ of delivery from the warehouse to the customer’s doorstep is the final step within the sup- ply chain process. It is also the most vital, expensive and time- consuming part to same-day delivery. Located within Phila- delphia’s 1.56M demographic region, the amount of docks, fenced-in parking and its acces-

Shopping Centers.............................................5-15A Organization Events Calendar..............................16A Business Card/Billboard Directory.......................17A Owners, Developers & Managers............... Section B Annual Review........................................... Section C

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