Mid Atlantic Real Estate Journal — New Jersey — June 8 - 21, 2012 — 13B
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ARS I PPANY, NJ — Colliers Interna- tional New Jersey has For training facility & testing lab Colliers Int’l. arranges 55,775 s/f lease for PSE&G P commodate their operational needs as a training facility and testing lab, as well as house their staff.”
NJ CEOs optimistic for state economy 2012 NJ Economic Policy Summit
“CENTRA is the perfect fit for NetApp and 1-800- DOCTORS, since both com- panies are leaders in their fields,” said Todd Anderson, a Principal of The Hampshire Companies. “We have seen a wide variety of interest from companies looking to secure premier, quality headquarter space in a highly accessible location, and we welcome 1- 800-Doctors and NetApp to CENTRA.” The Hampshire Companies acquired the former Siemens building in May 2009 and broke ground in February 2010, completely transform- and SJP Properties. The Economic Impact Award for the Panasonic headquarters was shared with Goya Foods’ purchase of a development parcel in Jersey City for con- struction of a new manufactur- ing facility on a 40-acre former brownfield site. Two Newmark Knight Frank- orchestrated transactions tied for NAIOP NJ’s Creative Office Award. In the first, the firm, with a team led by Steve Tol- kach, represented Novo Nordisk in its 15-year lease for a 730,000 s/f office building in Princeton, NJ. The adaptive re-use project will create 250 construction jobs, result in 500 new perma- nent positions, and retain 1,000 jobs for New Jersey. Serving as the Danish company’s new U.S. headquarters, the building is being reconstructed for LEED Silver certification. In the second Creative Office Award orchestrated by New- mark Knight Frank, a Simson- led team represented Hamp- and as a testing lab. PSE&G is New Jersey’s largest electric and gas utility and is a subsidiary of PSEG, a publicly traded diversified energy company with annual revenues of more than $12 billion and headquartered in Newark. “PSE&G is an integral part of New Jersey, both in serving millions of residents and as a significant employer,” said Bryn Cinque, an executive managing director of Colliers International New Jersey. “It was vital for PSE&G to move into larger space that can ac-
arranged a l ong - t erm, 55 , 775 s / f lease on be- half of Public Service Elec- tric & Gas, Co. (PSE&G) in 287 Exec- utive Plaza
ing and redeveloping the site by taking the existing building down to the steel, rebuilding it and expanding it by ap- proximately 10,000 s/f. The new building of 110,000 s/f is a classAstate-of-the-art office building with floor to ceiling glass, sunken gardens, and a full amenity package includ- ing a fitness center, conference center and cafe. Situated on more than 19 acres, CENTRA is ideally located within the heart of Me- tropark, offering close proxim- ity to New Jersey Transit, The Garden State Parkway, New Jersey Turnpike, I-287 and Routes 1 and 27 and Newark International Airport. ■ Located on 20 landscaped acres, 287 Executive Plaza has interior garden atriums and vaulted windows in ex- ecutive offices, and is also in close proximity to Route 1, the New Jersey Turn- pike and the Garden State Parkway. ■ shire Companies, the ownership in the Realogy Corporation in the transaction involving the re- location of its U.S. headquarters to 175 ParkAvenue in Madison. The project will transform a functionally obsolete building into amodern 270,000 s/f, LEED Silver Certified office building while maintaining 1,300 jobs in New Jersey. Realogy is a fran- chisor of such real estate brands as Better Homes & Gardens, Century 21, Coldwell Banker, The Corcoran Group, ERA, and Sotheby’s International. The 2012 Chairman’s Award Honoree, Seena Stein, was cited as a true pioneer in New Jersey commercial real estate, fromher role as a founding partner of Newmark Knight Frank’s New Jersey, to her professionalism as a creative dealmaker and her business acumen, and for forging the way for women in commercial real estate. In the latter role, she has long been a trusted and sought-after advisor for women in the industry. ■ The landlord, Normandy Real Estate Partners, was represented by Warren Sear- les of Cassidy Turley in the transaction.
at 40 Cragwood Road in South Plainfield, NJ. PSE&G plans to relocate its operations from Maplewood and use the new space for training facilities
Pictured left: Speakers at the 2012 New Jersey Economic Policy Summit: Dean Paranicas, president and CEO, Healthcare Institute of New Jersey; Michael Van Wagner, executive director of the New Jersey Business Action Center; Bernie Flynn, president and CEO, New Jersey Manufacturers (NJM) Insurance Group; Phil Kirschner, president, New Jersey Business & Industry Association; and Gil Medina, executive managing director, Cushman & Wakefield of New Jersey. Photo Credit: Brian Branch Price Photography
The Hampshire companies annouces 19, 470 s/f lease at LEED Gold Certified office bldg. has leased 7,070 s/f of premier office space.
WOODBRIDGE, NJ — The Hampshire Companies an- nounced that it has leased a total of 19,470 s/f at its state- of-the-art, LEED Gold certi- fied office building, CENTRA, located at 186 Wood Avenue South in Woodbridge. NetApp, which creates in- novative storage and data management solutions that deliver outstanding cost effi- ciency and accelerate business breakthroughs, has leased 12,400 s/f of class A office space. 1-800-DOCTORS, Inc., a leading healthcare concierge service providing the most trusted and reliable resources to consumers for making per- sonal healthcare decisions, SOMERSET, NJ — When all the votes were counted Newmark Knight Frank, now known as Newmark Grubb Knight Frank, won three top Deal of the Year Awards at NAIOP NJ’s 25th Annual Com- mercial Real Estate Awards Gala. Additionally, the event at The Palace at Somerset honored the firm’s principal Seena Stein with NAIOP NJ’s Chairman’s Award. Newmark Knight Frank’s efforts led by Tim Greiner gar- nered the Economic Impact Award for the firm’s representa- tion of Panasonic Corporation in that company’s relocation of its U.S headquarters to downtown Newark, NJ. The result will be a new 338,000 s/f, 12-story tower in Newark that will maintain 1,000 jobs in New Jersey and provide an estimated net eco- nomic benefit to the state of nearly $223 million over the next decade. Construction of the building is just underway by Matrix Development Group
NEW BRUNSWICK, NJ — New Jersey CEOs are feeling increasingly optimistic about the state’s economy and business climate, and many say that their companies plan to grow here this year, according to the results of the New Jersey Economic Policy Summit’s 2012 “C-Suite Survey” (C-Suite VII) of Garden State CEOs. The findings, presented at the Summit’s fifth annual conference, show that 81 percent of respon- dents rate the state’s economy as fair or excellent, and 71 percent say that New Jersey is a fair or excellent place to do business. These figures are up from 34 and 51 percent, respectively, in the 2009 C-Suite Survey. “Attitudes clearly have gotten better, and based on the sur- vey results we anticipate that this will translate to business growth this year,” noted James W. Hughes, Ph.D., dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers, The State University of New Jersey, which conducts the survey. “In fact, 35 percent of our respondents indicated that they expect to increase their capital spending in New Jersey this year, 42 percent expect to add to their local employment base and 20 percent expect to increase their space utilization,” Hughes added. All three of these figures represent a notable jump from the 2009 and 2011 surveys. Hughes and Marc D. Weiner, J.D., Ph.D., associate director of the Bloustein Center for Survey Research, presented the full sur- vey findings at the Summit event.
The results also reflect that New Jersey still is viewed as having a long way to go in terms of its tax structure, and that CEOs are con- cerned about the national debt as well as debt crises abroad. · 85 percent of respondents say that New Jersey taxes are worse than most other states. · 78 percent of respondents be- lieve that the national debt poses a major threat to the country’s well being; 22 percent see it as a minor threat. · 98 percent of respondents feel that the debt crises in Greece and other European countries pose a threat to the United States; 80 percent see these crises as a threat to their own businesses. “While survey responses by and large indicate that New Jersey CEOs believe things are getting better, they are aware that variables locally, nationally and internationally may impact progress,” Hughes said. “In short, their optimism, while real, is be- ing held in check by an element of caution.” The New Jersey Economic Pol- icy Summit gathering, which took place at the Bloustein School’s Civic Square Building on the Rutgers-NewBrunswick campus, brought together key stakehold- ers from New Jersey’s business, educational and political com- munities. Organized by The New Jersey Business & IndustryAsso- ciation (NJBIA), commercial real estate services firm Cushman & Wakefield, Inc. and the Bloustein School, the summit initiative aims to identify, understand and address concerns, challenges and opportunities for the future health of the state. ■
Newmark Knight Frank garners honors at NAIOP NJ’s awards Gala
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