7-13-12

R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news

ISSUE HIGHLIGHTS Volume 24 Issue 13 July 13 - 26, 2012 Binswanger brokers 158,735 s/f NJ sale

IRGINIA BEACH, VA — Skanska USA Civil Southeast announced To complete the 11 th Street Bridge project Skanska USA Civil Southeast, in joint venture, awarded a $90.7m contract V

Light Rail Station near PATH and ferry service to Manhat- tan within the Liberty Harbor Redevelopment District, an 80-acre, 28-block neighborhood that is already home to more than 1,000 new condominium and rental residences, includ- ing 225 Grand, a 348-unit rental building also developed by Ironstate and Kushner Real Estate Group. The partnership expects to complete 18 Park in the fall of 2014. The Boys & Girls Clubs of Hudson County is also expected to open at the same time. “Today’s groundbreaking event is an important milestone for Jersey City as it not only signifies the start of another critical development that will create construction jobs, gener- ate tax ratables and attract new residents to the area, but will also bring us closer to providing a much-needed, modern and safe facility for the Boys &Girls Clubs of Hudson County which will serve the children of Jersey City for generations to come,” said Mayor Healy. ■ change order for the design and construction of all re- maining traffic movements on the 11th Street Corridor to meet the requirements of the Record of Decision and the approved final Environ- mental Impact Statement for the project. Project elements include the removal and replacement of two flyover bridges, the reconstruction of the SE/SW Freeway from an underpass to an at-grade boulevard, and the extension of 12th Street over CSX tracks to connect local streets and improve traffic flow in this area. Work began on June 7 with a scheduled completion in November 2015. ■

that its joint venture with Facchina has been awarded a $90.7 million contract from the D.C. District Department of Transportation to com- plete the 11th Street Bridge Project. When completed, the project will connect the communities along the 11th Street Corridor to each other and the Anacos- tia River and complete the functional and operational re- quirements of the 11th Street Corridor interchange. Skanska’s share of the contract is 70 percent, which amounts to $63.5 million. The project includes a

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Camb r i dge - L e e Inds. constructs 200,000 s/f facility

11th Street Bridge Project rendering

And new Boys & Girls Clubs of Hudson County, New Jersey Ironstate Development & KRE Group break ground on 18 Park rental building

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Boyle Construction completes 36,000 s/f HQ renovation

JERSEY CITY, NJ—Jersey City, NJ Mayor Jerramiah Healy joined development partners Ironstate Develop- ment Company and Kushner Real Estate Group and of- ficials from the Boys & Girls Clubs of Hudson County to break ground on a new multi- faceted project comprising a 422-unit luxury rental build- ing and a new state-of-the-art facility for The Boys & Girls

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Directory

Upcoming Spotlight Brokerage Directory — July 27 th Auction Directory ......................... 4-5A DelMarVa ..................................... 9-14A Financial ................................... 15-21A TriState Organization ................ 22-23A Calendar of Events......................... 28A New Jersey ............................ Section B Pennsylvania ......................... Section C

Shown from left: Gary Greenberg, executive director of the Boys & Girls Clubs of Hudson County; Jeff Persky, executive VP of Kushner Real Estate Group; David Barry, president of Ironstate Development Company; Michael Barry, president of Ironstate Holdings; Jersey City Mayor Jerramiah Healy; Murray Kushner, chairman of Kushner Real Estate Group; and Peter Brennan, Jersey City council president.

Clubs of Hudson County. Designed in collaboration between HWKN Architects andMinno &WaskoArchitects, 18 Park will feature an archi- tecturally-distinctive 11-story building. Occupying the same building but with a separate

entrance and address, the new Boys & Girls Clubs of Hudson County will feature approxi- mately 34,000 s/f of modern classroom and recreational space. The project is rising adjacent to the Liberty Harbor North

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