8B — February 8 - 21, 2013 — New Jersey — Mid Atlantic Real Estate Journal
www.marejournal.com
N ew J ersey
DP Partners to structure an aggressive deal Jackson Cross Ptrs. arranges 70,000 s/f build-to-suit lease
Frasco Realty purchases 15,200 s/f bldg. Nai Hanson brokers $1.45m office prop. sale son associate VP Dominic Fittizzi .
pool. While there may still be someone sitting front and center to direct guests and answer phones, the job is often combined with other adminis- trative responsibilities. As architects and interior designers, we see this, and create spaces that accommo- date someone who is serving both internal and external customers. How to integrate the wide use of tablet technol- ogy into workspaces is another topic design professionals are actively exploring. Insightful Listeners Programming office spaces continued from page 2B MIDLAND PARK, NJ — NAI James E. Hanson an- nounced the sale of 1 Godwin Ave., a 15,200 s/f, free stand- ing office building in Midland Park. Frasco Realty purchased the property for $1.45 million from 1 GodwinAve. Associates, with both parties represented in the transaction by NAI Han-
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ogan Township, NJ — Jackson Cross Partners, LLC (JCP)
“The buyer was attracted to this building due to its location in affluent Northwest Bergen County on the Ridgewood border,” Fittizzi said. “Addi- tionally, the property features excellent parking, which is extremely important in this part of New Jersey.” n
has arranged long-term build- to-suit lease on a new facility for Albert’s Organics located at 1155 Commerce Blvd. Albert’s Organics is the na- tion’s leading distributor of quality organically grown fresh produce and perishable items, (including meat, dairy, soy products, juices/beverages, and much more). Scott Dennis, president of Albert’s Organics, said “Our company has been growing steadily and we needed to locate a large, temperature controlled facility to accom- modate that growth and future expansion. Harry McKenna and Lou Battagliese rose to the challenge and found a build- to-suit opportunity that meets both of those needs.” McKenna and Battagliese of JCP worked extensively with Albert’s management to help lo- cate a facility which could serve as a food distribution center for the company. “The ability of DP Partners to structure an aggressive deal was critical to keeping Albert’s Organics and its 150 plus employees in New Jersey. The new 70,000 s/f facil- ity will almost double Albert’s capacity and provide for future expansion,” said McKenna. After negotiations and utiliz- ing detailed market knowledge along with taking advantage ENGLEWOOD CLIFFS, NJ — In a transaction driven by efficiencies and the need to reconfigure, Heinrich Bauer Publishing has signed a long- term 48,000 s/f lease extension that will realign its space at 270 Sylvan Ave. The tenant was represented by Curtis Foster of real estate services firm Cushman & Wakefield, Inc. , and landlord Denholtz Associates was represented in-house by Steven Gelt- zeiler . The signing follows a trans- action in early 2012, similarly engineered by Foster, that added 13,600 s/f to Heinrich Bauer’s presence at 270 Sylvan Avenue. “Heinrich Bauer will be relo- cating various publications and operating groups within the building to create additional synergies,” said Foster, noting that the company has occupied space at 270 Sylvan Ave. for more than two decades. The publisher’s magazines include
Forward-Looking Fit-Outs: Working with the interior . . .
is always part art and part science. Before you can plan a successful space, you have to be a good listener and know that in order to serve the needs of the owner and bro- ker customers it is critical to also understand and serve the needs of their customers – the tenant or end user. Only by being careful listeners are we able to weigh these needs and deliver the best solutions for workers, tenants, and owner customers. Marlyn Zucosky, IIDA, is the director of interior design at Joshua Zinder Architecture + Design. n Healing Technologies an- nounced in early November its 102,000 s/f lease at 399 Jefferson Road in Parsippany, while Prism Capital Part- ners , the owner of the building, sweetened the deal for Biomet with a commitment to provide 28,000 s/f of additional space on a build-to-suit basis for an affiliated subsidiary. n “At Industry City we are committed to positively con- tributing to the community. So many people in the area were seriously impacted by Hurricane Sandy and know- ing that Goodwill could make such a difference, we knew we had to make this happen,” said Julius Chabbot , director of leasing for Industry City. “By working in close cooperation with the EDC and City Hall, we were able to quickly move forward on getting the space ready. Goodwill has already started to set-up and will be able to continue its superior service to the community.” n storm. Goodwill will hire peo- ple with disabilities, including some impacted by the storm, to operate the facility.
New facility is currently under construction with a targeted delivery date of early Spring, 2013.
1155 Commerce Blvd. in Logan Twp.
ing more than 3,000,000 s/f of temperature controlled space within 3 miles of the site,” said Battagliese. The new facility is currently under construction with a targeted delivery date of early Spring, 2013. n
of the current market condi- tions, JCP assisted Albert’s Organics in finalizing the deal. “The area surrounding the LogistiCenter at Logan has become the targeted area for the food distribution industry with over 20 companies occupy-
• Pearson Education, which earlier this year signed a 200,000 s/f lease of new space in Hoboken along the Hudson Waterfront, witnessed the groundbreaking of its new fa- cility at Waterfront Corporate Center III. Central New Jersey • Biomet Spine and Bone continued from page 4B Colliers International’s New Jersey . . . Brooklyn’s Industry City supports Goodwill NY-NJ through donation space
Cushman & Wakefield completes 48,000 s/f lease extension
BROOKLYN, NY and NorthernNJ — In a move to boost the area’s recovery from Superstorm Sandy, Goodwill Industries of Greater NY and Northern NJ has opened a 50,000 s/f warehouse and distribution center in donated space at Industry City, the 40- acre industrial center of Bush Terminal along Brooklyn’s Sunset Park waterfront. The City of New York, through the Economic Devel- opment Corporation and the Mayor’s Office of People with Disabilities, arranged the do- nation of the space as part of a broad initiative to combine city resources with those of the pri- vate sector and not-for-profit organizations to maximize recovery from the devastating
270 Sylvan Ave.
Life and Style, In Touch Week- ly, Women’s World and First for Women, among others. “The slight reduction in space was not because of a business issue, but rather because of the need to create greater efficien- cies,” he said. “The company felt there was a better way of doing business in the same building from an operational standpoint by giving up certain space and taking other space.
“The landlord was very ac- commodating in working with Heinrich Bauer, and the com- pany is pleased to continue the relationship,” said Fos- ter. “Proximity to Manhattan and the need for evening and weekend access to its offices are among the tenant’s require- ments, and the fact that the landlord was able to meet those operational needs is justly wel- comed.” n
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