H Cushman &Wakefield handles 403,622 s/f transaction on behalf of owner FCP announces sale of 1 Dulles inHerndon, VA for $226.0Million erndon, VA — FCPSM announced the sale of One Dulles

ISSUE HIGHLIGHTS Volume 30, Issue 6 March 30 - April 12, 2018


invest and, with fund capital available to us, we will con- tinue to seek opportunities like this one in the Dulles Corridor and other strong submarkets throughout the Washington, DC region and the East Coast.” One Dulles Tower is located within the upscale Woodland Park master planned devel- opment, with extraordinary 360-degree views, convenient access to more than 140,000 s/f of retail, a hotel and 5-acre park and is one half mile from both the future Herndon and Innovation Center Silver Line Metro Stations. FCP extends its appreciation to Bill Collins, Paul Collins, Drew Flood, Eric Berkman , and Shaun Weinberg of Cushman & Wakefield for their representation of FCP in the sale of the building. n the United States. Shippers can reach 100 million consum- ers within a day’s departure. CBRE teams led by Mindy Lissner, Jeffrey Babiki- an, William Waxman , and Thomas Sullivan represent- ed the sellers in the transac- tion. Camber Real Estate Partners and Cushman & Wakefield served in an ad- visory capacity to the buyer group. “New Jersey has one of the largest concentrated crit- ical masses of warehouse and distribution space in the U.S. due to its vast logistical infrastructure network of highways, deep-water cargo ports, air freight capabili- ties and rail servicing the entire region,” Mindy Lissner said. “Advance and Greek can look forward to strong interest from the increasing number of food, consumer product, household goods, and e-commerce tenants actively exploring and expanding into the market.” n

Tower to affiliates of Harbor Group International, LLC for $226.0 million. FCP pur- chased the 403,622 s/f class A office building prominently located on the Dulles Toll Road in Herndon, VA in Oc- tober 2015 and completed an extensive renovation following the planned move out of the prior single tenant occupant. In early 2017, FCP signed a lease for a full-building tenant. FCP sr. vice president, Erik Weinberg , said, “FCP is thrilled with the exceptional results of the repositioning of this trophy Dulles Corridor tower.” He continued, “One Dulles is an excellent example of the type of commercial office property in which we like to


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One Dulles Tower

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CBRE’s Lissner, Babikian, Waxman & Sullivan represent sellers Advance Realty &Greek Development acquire 350-acre development parcel in Linden, NJ

LINDEN, NJ — The part- nership of Advance Realty and Greek Development announced the acquisition of a 350-acre tract of land in Linden, NJ.

With limited opportunities in high-barrier to entry mar- kets such as Northern New Jersey, the developers expect to satisfy the requirements of modern distribution ten-

Mindy Lissner Jeffrey Babikian WilliamWaxman Thomas Sullivan

the best designed logistics centers in New Jersey. As the state’s industrial market con- tinues to thrive, we anticipate significant interest in the rare opportunity we are planning to create in Linden.” Located off Tremley Point Road, the development tract comprises several contigu- ous parcels in a location that provides exceptional access to one of the world’s most concentrated and affluent cus- tomer bases. Additionally, the property is situated within the Port submarket, just 10 miles from the Port of New York and New Jersey, the largest port on the East Coast and the third-largest port in

ants and e-commerce users in search of class A warehouse space. “The City of Linden has fostered a unique opportunity at Tremley Point,” Advance Realty CEO Peter Cocozi- ello said. “We look forward to working with Greek Develop- ment and City of Linden offi- cials to improve the site with a world class development in the heart of one of the world’s most vibrant industrial mar- kets.” Added Frank Greek , prin- cipal and CEO of Greek De- velopment: “We are extremely excited to partner with Ad- vance on what will be among


Shopping Centers.............................................3-13A Business Card/Billboard Directory.......................15A Owners, Developers & Managers............... Section B The Best of 2017. ....................................... Section C

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