S hopping C enters N ew J ersey
Real Estate Journal — New Jersey — Section B
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M id A tlantic
Balanoff, Littell, and Healy orchestrate transaction in Piscataway Colliers International NJ completes 253,575 s/f lease of newly constructed warehouse/distribution space
ISCATAWAY, NJ — Global Transport Logistics, Inc. has leased 253,575 s/f of newly constructed warehouse/distri- bution space in Piscataway, announced Colliers Interna- tional NJ LLC, Inc. Their re- location to 276 Old NewBruns- wick Rd. from Fair Lawn will nearly double the third-party logistics company’s regional warehouse footprint. Colliers’ Logistics and Trans- portation Group chartered members, Noah Balanoff , based in the global commer- P HI-LIGHTS March 16 - 29, 2018
from core investors and foreign capital seeking durable income from stable product offering at- tractive yields.” “The PHT Portfolio is a high- quality, well-diversified portfo- lio of premier properties with near-100% occupancy and a collective tenancy of highly- rated, market-leading health systems,” said Brian Pieracci, Heitman managing director. “The class A portfolio exhibits nearly all of the qualities that we look for when acquiring core medical office properties for our portfolio.” Bentall Kennedy carefully assembled the portfolio over the last 12 years through new development and acquisition. The properties are new class A medical office buildings lo- cated on the campuses of highly rated, market-leading and aca- demic health systems in seven states. The buildings are 96% occupied and located in desir- able U.S. markets. n According to Balanoff, the transaction illustrates the benefits of Colliers’ broker network and comprehensive service platform. “Chuck, who recently assisted Global with an expansion in Southern Cali- fornia, tapped into our local office to provide market knowl- edge and hands-on leader- ship,” he said. “This, combined with the involvement of our supply chain specialty group, ultimately created a solution that provides efficiency and real estate cost savings, while positioning this valued client for strong future growth.” n functionality of new industrial construction. The property is an ideal fit.” Balanoff also noted, “The landlord, Indus- trial Property Trust, Inc., was extremely helpful and creative in its efforts to bring Global Transport Logistics to its new development project.” JLL served as landlord represen- tative for Industrial Property Trust, Inc.
276 Old New Brunswick Rd. Global Transport Logistics is a licensed air, ground and ocean freight forwarding com- pany, specializing in the con- solidation and transport of less-than-truckload and truck- load freight. “Our client was near capacity and continues to grow their customer base, so this was an opportune time to optimize their distribution
cial real estate services firm’s Parsippany, office, and Chuck Littell , of its Los Angeles, CA, office, headed the long-term transaction on behalf of Global. Ontario, CA-based Gregory Healy , who leads Colliers’ Supply Chain and Logistics Consulting group, were instru- mental in developing Global’s relocation strategy.
and transportation to drive de- livery costs down and increase service levels,” Balanoff said. “Gregg and his team exam- ined Global Transport Logis- tics’ customer and delivery locations to identify the best location,” Balanoff added. “Within the local market, 276 Old New Brunswick Rd. offers all the efficiencies and
SPO TLIGHT Central NJ
JLL represents Bentall Kennedy in sale of 17-buildingmultistatemedical office portfolio
7-14B
GZA GeoEnvironmental acquires Civil Dynamics
Plainsboro, NJ — JLL ’s Capital Markets experts an- nounced the company complet- ed the sale of an institutional- quality, multistate medical office portfolio known as the PHT portfolio. JLL represented the seller, Bentall Kennedy, on behalf of a state pension fund. Heitman LLC, a global real estate investment management firm, acquired the 17-building, 1.4 million s/f portfolio on be- half of an affiliate of Heitman. Denver-based NexCore Group will manage and lease the properties. The sale builds on momen- tum that propelled sales of medical office buildings in 2017 to a record level of $9.5 bil- lion, according to JLL experts, past the previous high-water mark of $9 billion in 2015, and substantially higher than the typical annual volume of $5 bil- lion. The PHT portfolio is one of the largest medical office asset sales to have occurred. Inves-
Bill Hadge
10B
Women are making their mark at Atlantic Environmental Solutions
Princeton Medical Arts Pavilion
tors’ appetites are being fed by an industry that has been steadily migrating to lower cost outpatient settings. This is causing a spike in outpatient visits, which are expected to increase by 20% over the next decade, and now constitute more of hospital revenue than inpatient care for the first time in history. Annual healthcare spending is projected to grow by more than 5% a year, most
of which is earmarked for am- bulatory settings. “Healthcare real estate is emerging from the shadows of alternative sectors and is increasingly being viewed as a staple asset,” said Jonathan Geanakos , president, JLL Capital Markets, Americas. “Interest in medical office is at an all-time high given the robust capital available for real estate investment, especially
16B
18B
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