24A — February 10 - 23, 2012 — New Jersey — Mid Atlantic Real Estate Journal
www.marejournal.com
C ENTRAL N EW J ERSEY
TLANTIC CITY, NJ — With the January acquisition of Barclay Adds 1,800 residential units, 200 nursing home beds Tryko Ptrs. acquires Barclay Arms in Atlantic City A
Working closely with C&W, Brandywine Langan Eng. expands to 10,750 s/f in Lawrenceville
LAWRENCEVILLE, NJ — Langan Engineering & Environmental Services has increased its presence and re-located within its current location at 989 Lenox Dr. In little more than one year, this regional office quickly outgrew its operating space and worked closely with Cushman &Wake- field, Inc. and its landlord Bran- dywine Realty Trust, to sign a new lease for 10,750 s/f in the same building. “Langan liked the location and wanted to work with the landlord to complete the expan- sion and extension of its lease,” said Marc Graham of Cushman
&Wakefield’s East Rutherford, office, who teamed with Cush- man & Wakefield colleagues Donald Eisen, Lee Miller and John Picco, to represent the tenant. Brandywine Realty Trust was represented in-house by Stephen Jennings. “Everyone involved in this transaction has good relation- ships with one another,” said Graham. “Langan’s strong rep- utation and continued growth plans, along with Brandywine’s tenant-friendly approach al- lowed us to orchestrate a fa- vorable result for both parties. Ultimately, it was a very coop- erative effort.” ■ LAWRENCEVILLE, NJ — Newmark Knight Frank an- nounced a new 11.5-year, 9,000 s/f lease at Crossroads Corporate Center, 3150 Brunswick Pike with United Way of Greater Mercer County (“UWGMC”). The deal combined both imagi- nation and generosity and will enable UWGMC to better serve the residents of Mercer County. UWGMC is relocating its of- fices to Crossroads Corporate Center, owned by Gilbane. To make the transaction work for both sides, Gilbane structured the lease to include a front- loaded reduced rent period so that UWGMC could move out of its existing space early. This ap- proach allows UWGMC to focus on what it does best: Support the community. The idea was proposed by Newmark Knight FrankManag- ing principal Thomas Romano, who represented both parties in the transaction along with associate John Calvo. “I thought of only two landlords who would entertain a deal like this. As it turned out, United Way is Gilbane’s preferred charity, so it was a perfect fit,” Romano said. “Not only do we gain a stellar tenant from this transaction, but we are also able to give back to the local community that has supported our property,” said Robert Gagliardi from Gilbane. “What a win-win scenario.” “As a non-profit serving the Mercer County community, we place a premium on business relationships that enhance both the donor’s and our ability to deliver on our missions,” said Herbert Klein III, president & CEO of United Way of Greater Mercer County. ■ Newmark Knight Frank arranges 9,000 s/f lease
Arms in Atlantic City, pri- vate equity real estate group Tryko Partners, LLC, marked a 12-month period of aggres- sive growth that nearly doubled its multifamily portfolio and substantially grew its skilled nursing holdings. The Brick- based firmhas added more than 1,800 residential units and 200 nursing home beds, with an- other 680 housing units under contract to close during the first quarter of 2012. ■
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