M id A tlantic Real Estate Journal — New Jersey — May 2024 — 1B
www.marej.com
5.24
Cushman & Wakefield’s Tri-State Capital Markets closed in excess of $2.4 billion of office, industrial, retail, land and multifamily transactions in the past 12 months. RECENT SUCCESSES & NEW DEALS
MARKETING
STREETS OF CHESTER Chester, NJ 104,717 SF Lifestyle retail center 77% leased to 21 tenants, value add opportunity via rebranding, repositioning, signage enhancement.
CANDLEWOOD INDUSTRIAL PARK Bay Shore, NY 560,719 SF Two class A buildings on 27 acres featuring 40’ & 38’ clear heights. Significant NOI upside with average rents 83% below market. 1 DEBAUN ROAD Millstone, NJ 132,930 SF Newly constructed industrial facility on 12.27 acres with 31 loading positions and 32’ clear. $15.64 PSF in place rent with 4% steps and 4.26 WALT.
2401 LOCUST STREET Philadelphia, PA 46,319 SF 4-story boutique telco hotel, anchored by Verizon. 86%
occupied with $41.78 average rent. 32% NOI growth potential over 10 year hold.
SOLD
I-80 INFILL PARK Paterson, NJ 191,942 SF 2 building industrial park 100% leased to 4 tenants with a 2.6 WALT. $7.46 PSF average rent, 50%
THE SHOPS AT LEDGEWOOD COMMONS Ledgewood, NJ 448,066 SF Largest non-mall single asset retail trade since 2018. Power center with 22 tenants anchored by Walmart.
below market. 7.4 acres with 1 acre of outdoor storage.
CAPITAL MARKETS GROUP
ANDREW MERIN andrew.merin@cushwake.com DAVID BERNHAUT david.bernhaut@cushwake.com GARY GABRIEL gary.gabriel@cushwake.com NIKO NICOLAOU niko.nicolaou@cushwake.com KYLE SCHMIDT kyle.schmidt@cushwake.com FRANK DITOMMASO frank.ditommaso@cushwake.com ANDREW SCHWARTZ andrew.schwartz@cushwake.com DAVID OROPEZA david.oropeza@cushwake.com
DAVID JARVIS david.m.jarvis@cushwake.com JUSTIN LUPO justin.lupo@cushwake.com RYAN DOWD ryan.dowd@cushwake.com RYAN LARKIN ryan.larkin@cushwake.com SETH ZUIDEMA seth.zuidema@cushwake.com BILL BAUNACH bill.baunach@cushwake.com MAX HELFMAN max.helfman@cushwake.com JORDAN SOBEL jordan.sobel@cushwake.com
ANDRÉ BALTHAZARD andre.balthazard@cushwake.com PETER WELCH peter.welch@cushwake.com WILL GERLIN william.gerlin@cushwake.com JEAN-PIERRE HOHL jeanpierre.hohl@cushwake.com MAIA SIRABIAN maia.sirabian@cushwake.com MICHAEL GUERRA michael.guerra@cushwake.com SAMANTHA MILLER samantha.a.miller@cushwake.com MORGAN BRECHMAN morgan.brechman@cushwake.com
RYAN KELLY ryan.kelly1@cushwake.com DAN BOTTIGLIERI daniel.bottiglieri@cushwake.com
CUSHMAN & WAKEFIELD, INC. CAPITAL MARKETS GROUP One Meadowlands Plaza, 7th Floor East Rutherford, NJ 07073 T / +1 201 935 4000 E / investment.sales@cushwake.com
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