12C — May 27 - June 9, 2016 — Industrial / Distribution Centers — M id A tlantic
Real Estate Journal
www.marejournal.com
I ndustrial R eal E state & D istribution C enters Federal Business Centers purchases the assets from High Street Realty Cushman & Wakefield orchestrates $25m trade for Raritan Center ind. assets totaling 204,440 s/f E DISON, NJ —Two Rar- itan Center industrial buildings have traded fering has drawn significant, competitive interest from the investment community.” and Rte. 1, the properties offer unmatched accessibility to the greater tri-state region.
This transaction marks the third time the Metropolitan Area Capital Markets Group team has been involved in the sale of 300 Columbus Circle and 400 Raritan Center Parkway. “Each time, these assets have come to market with high oc- cupancy and quality tenants,” said Cushman & Wakefield’s Gary Gabriel , who headed the sale with team members Andrew Merin , David Ber- nhaut , Brian Whitmer , Kyle Schmidt and Andrew Siem- sen . “Accordingly, each of-
“The buildings’ Raritan Cen- ter address also adds to their appeal,” Schmidt added. “This business park offers outstand- ing amenities and is uniformly considered a top location for industrial in New Jersey.” The master-planned development contains more than 13 million square feet of industrial, office, and R&D space, as well as the New Jersey Convention and Exposition Center, several ho- tels, banks, a day care center, and the regional operations for both the United Parcel Service and Federal Express. n Bussel Realty leases 23,622 s/f ind. building in New Providence NEW PROVIDENCE , NJ — Bussel Realty Corp. (BRC) , a corporate and in- dustrial real estate services firm in New Jersey, announced Jersey Wholesale Tire Corp has leased 23,622 s/f at 140 Spring St. in New Providence, a 67,584 s/f industrial build- ing. BRC senior vice president David Blitt and vice president David Posner represented the owner, Mandelbaum & Mandelbaum. Joe Bonai- kowski of Bonaikowski Real Estate represented Jer- sey Wholesale Tire Corp. “Jersey Wholesale Tire Corp will utilize the facilities for storage and distribution to its clients in the Central New Jersey and surrounding mar- kets,” said Bitt. “This is the company’s fourth location in New Jersey as it continues to expand in the State.” Available through BRC is an additional unit of 22,500 s/f at 140 Spring St., which is one mile from I-78 and a half mile from the New Jersey Transit train station located inMurray Hill. The unit offers 3,000 s/f of office space, 18-foot ceiling heights, two-tailboard and one drive-in loading, heavy power, and over 75-car parking. It is located only 10 miles fromPort Newark and Newark Liberty International Airport. n 140 Spring St.
hands in a $25 million sale orchestrated by Cushman & Wakefield ’s Metropolitan Area Capital Markets Group. Feder- al Business Centers purchased the assets at 300 Columbus Circle and 400 Raritan Center Parkway from High Street Realty . The adjacent, multi-tenanted properties total 204,440 s/f and are 90% occupied by tenants. Situated within Raritan Cen- ter immediately off of exit 10 of I-95, at its intersection with I-287, Garden State Parkway
400 Raritan Center Parkway
Denholtz Associates wishes to thank
Charles Foschini, CBRE Stuart T. Kapp, Proskauer Todd E. Lehder, Wilentz, Goldman & Spitzer P.A. for their valuable contributions to our recent acquisition of the Tampa Bay Times headquarters.
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