Real Estate Journal — The Best of 2017 — March 30 - April 12, 2018 — 5C
M id A tlantic
The Largest industrial lease of 2017
JLL Lebanon Valley Distribution Center Fredericksburg, PA
Prism Capital Partners, LLC ON3 Nutley, NJ
Lee & Associates, LLC - NJ 1611 Van Buren Rd. Eastern, PA
Size: 73,000 SF Brokers: Cushman & Wakefield: William Hartman, Curtis Foster, Jerry Shifrin Biofabrication company Modern Meadow relocated from Brooklyn to a state-of-the-art laboratory and pi- lot manufacturing site at Prism Capital Partners’ ON3. Modern Meadow –founded in 2011 with a mission to re-imagine animal materials, such as leather, by apply- ing design and engineering to biology – received a $32 million Grow NJ grant. With master planning well un- derway at ON3, the redevelopment of a 116-acre for- mer Hoffmann-La Roche campus, is positioned to set a benchmark in Walking Urbanism – with a world-class, mixed-use setting integrating office and R&D facilities, recreational, hospitality and wellness options, and other uses that comprise a 24/7 environment. Shown from left: Tim Keating, Dave Altenau, Rick Margerison, Jr., Mike Meechan and IdoWeinberger
Size: 628,475 SF Broker: Dave Saltzman
Size: 1,080,126 SF Brokers: W. Jason Webb, and Maria Ratzlaff JLL brokered a full-building, long-term lease on behalf of ownership, USAA and Trammell Crow Company, with Ace Hardware. The building located in Freder- icksburg, PA in the Central PA submarket consists of 874,126 SF and was completed in 2016. A 206,000 SF expansion of the building is close to completion. Ace Hardware will fully occupy both the original building and the expansion during the 1st quarter of 2018. The building features state-of-the-art design specifications and is located approximately five miles from the con- vergence of I-81 and I-78.
Dave Saltzman’s customer, XPO Supply Chain Logistics, had outgrown their existing space in the Lehigh Valley but wanted to remain in the market to effectively service their client throughout the Northeast. Dave, along with Brian Knowles & his team at Lee &Associates of Eastern Pennsyl- vania, worked together to identify the best options for his cli- ent. They agreed that Duke Realty’s 33 Logistics Center, lo- cated at 1611 Van Buren Rd, was the ideal building for them because it gave them the additional space they needed, and is located down the street from thier existing facility. This allowed them to remain in the same area that is strategic to their operations, as well as keep their current labor force.
Prism specializes in a variety of unique real estate projects including adaptive redevelopment and new urbanism. The company invests with institutional and private capital sources that rely on the firm’s ability to identify and realize potential in real estate investments of all sizes and types. Prism's stewardship delivers excellence from each project’s conception through disposition. More information regarding Prism and its projects can be found at www.prismpartners.net
EDWIN H. COHEN PRINCIPAL
EUGENE R. DIAZ PRINCIPAL
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