S HOPPING C ENTERS N EW J ERSEY
Section B of the Mid A TLANTIC Real Estate Journal
RINCETON, NJ — Cushman &Wakefield’s MetropolitanArea Cap- Capital Markets Group arranges sale of 100 SciPark, a 65,552 s/f, office and lab building Cushman & Wakefield orchestrates sales totaling $28.3m in Princeton & Somerset P
ital Markets Group (CMG) has arranged the $17.625 million sale of 100 SciPark, a 65,552 s/f, newly constructed office and lab building. The CMG team of Andrew Merin, David Bernhaut, Gary Gabriel, Kyle Schmidt and Nick Karali represented the seller, Wood- mont Properties, and secured the buyer, Inland Real Estate
100 SciPark in Princeton
BLOOMFIELD, NJ—Prism Capital Partners, LLC has relocated its headquarters to BroadAcres Office Park from Englewood, in an expansion move, announced Edwin Co- hen, principal partner. The commercial real estate owner/ operator has maintained its property management op- erations at 200 Broadacres Dr. since 2006, when it purchased the 380,000 s/f, four-building BroadAcres campus. Cohen noted that the com- pany’s growth and the accel- eration of key local projects were catalysts for consolidat- ing their staff into a single location, and that BroadAcres was the logical choice. “We are involved in two major construction projects within 10 minutes of this property,” Acquisitions, Inc. In a separate transaction, Cushman & Wakefield has orchestrated the $10.7 million trade of 65 Clyde Rd. in Somer- set. TA Associates Realty pur- chased the 159,000 s/f indus- trial property fromCornerstone Real Estate Advisers. Cushman & Wakefield’s Me- rin, Bernhaut, Gabriel and Schmidt marketed 65 Clyde Road with industrial broker- age specialists Frank Caccavo, Jason Goldman, Marc Petrella and Andrew Siemsen, based in the firm’s Edison office.
JULY 13 - 26, 2012
HI-LIGHTS
65 Clyde Rd. in Somerset
“65 Clyde Road serves a real need for industrial, R&D and high-tech tenants looking for an efficient space that also offers a higher-end corporate image for the firm’s clients,” Schmidt noted. “Additionally, the Lower I-287 Corridor offers a strong labor pool and NJ Tpke. prox- imity, making it a historically
strong industrial market. Som- erset offers the added benefit of being on the Princeton and Rutgers Research Corridor, providing a draw for technol- ogy-related tenants.” These advantages drew signif- icant interest from institutional buyers from around the country, according to Bernhaut. ■
Binswanger brokers 158,735 s/f sale to Seagis Property Group
On behalf of Elizabeth Bev- erage Co., Binswanger an- nounces the sale of a 158,735 s/f distribution facility on 7.85 acres in Elizabeth. See page 2B.
The Aztec Corporation designs new, 7,000 s/f office Prism expands, relocates HQ to Broadacres Office Park
Mack-Cali announces 100,274 s/f office lease in Jersey City
Mack-Cali RealtyCorporation announced that The Bank of Tokyo-Mitsubishi UFJ, Ltd. has signed a 100,274 s/f ex- pansion lease at Harborside Financial Center in Jersey City. See page 3B.
ALSO INSIDE:
S OUTHERN N EW J ERSEY S POTLIGHT .....................7-13B SNJ A PPRAISAL I NSTITUTE .................................12-13B ICREW NJ O RGANIZATION .....................................15B P EOPLE ON THE M OVE .............................................16B
1455 Broadacres Drive
he noted. “It has become in- creasingly important for our Prism Construction Services, LLC division, especially to be physically closer to these sites as things progress. The Aztec Corporation is designing Prism’s new, 7,000 s/f office at BroadAcres, which
will house 30 staff members. Prism currently is occupying temporary space at 200 Broad- acres Dr. BroadAcres Office Park is located between Garden State Parkway exits 151 and 153, near the interchanges of routes 3 and 46. ■
www.marejournal.com Section B, 20 pages
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