S HOPPING C ENTERS N ORTHERN NJ S POTLIGHT
M ID A TLANTIC Real Estate Journal — Northern NJ — September 23 - October 20, 2022 — 5B
www.marej.com
Walker & Dunlop's Harvey Pava and Jordan Shea advise on debt fi nancing MAG Capital Partners acquires 144,025 s/f cosmetics manufacturing facility in Northern NJ
C EDAR GROVE, NJ — MAG Capital Part- ners, LLC , purchased a 144,025 s/f manufacturing fa- cility in Cedar Grove, occupied by Contract Filling Inc. (CFI), a specialized contract manu- facturer of high-end fragranc- es, deodorants and cosmetic products. A sale-leaseback transaction was completed with private equity firm CORE Industrial Partners’ portfolio company Arizona Natural Resources (ANR), which an- nounced its acquisition of CFI in mid-August. Built in 1984 and fully reno- vated in 2010, state-of-the-art, solar-powered 10 Cliffside Dr. is situated on 13.94 acres with- in 30 minutes from New York City. The fully air-conditioned single-story facility features 25-ft. ceiling heights and its 3,523 solar panels generate almost 1 Megawatt of electric- ity yearly, producing nearly 100% of the company’s electric energy needs.
part of its strategy to create a one-stop shop for contract manufacturing in the beauty and personal care space. ANR’s acquisition of CFI solidifies its position as one of North America's largest man- ufacturers of personal care and beauty products, adding one of the few manufacturers in the U.S. with the unique facility specifications, ad- vanced manufacturing equip- ment and safety certifications required to produce alcohol- based personal care products. The combination will expand ANR’s product portfolio in the high-end fragrance category and will enable the platform to serve a broader range of per- sonal care and beauty applica- tions across a wide spectrum of unit sizes. “The acquisition of CFI fur- ther advances CORE’s vision to build a leading beauty and personal care contract manu- facturing franchise serving both established and emerg-
ing brands. We are pleased to work with MAG Capital Partners again on the ANR platform and appreciate the value they bring as a long- term strategic partner,” said CORE Industrial Partners principal Ronald Rascia. “We believe in the resilience of the American manufacturing industry and will continue to target investments in this sec- tor,” said MAG Capital Part- ners principal Andrew Gi . The transaction is the latest investment by MAG Capital Partners in manufacturing, and real estate occupied by established and growing com- panies. The firm’s expanding portfolio includes investments in both operating companies and net-leased industrial properties throughout the United States. Walker & Dunlop's Har- vey Pava and Jordan Shea advised on the debt financing. Terms of the sale were undis- closed. MAREJ
10 Cli ff side Dr.
According to the New Jer- sey Economic Development Authority , manufacturing has emerged as one of New Jersey’s fastest expanding industries over the past four years with areas such as food and chemical products among the strongest in the sector. “The CFI Cedar Grove facili- ty complements our acquisition of ANR’s Phoenix manufactur- ing property from CORE in
2020,” said Dax T.S. Mitchell , a principal of MAG Capital Partners. “It is a pleasure to continue to serve CORE as a trusted real estate partner and capital source.” In 2020, MAG Capital Partners purchased 2525 E. Beardsley Rd. in Phoenix, a 130,656 s/f property occupied by personal care products manufacturer ANR, which was acquired by CORE as
Cushman & Wake fi eld arranges sale of Port Newark Light Industrial Park
ORANGE, NJ — Cushman & Wakefield announced that the real estate services firm has arranged the sale of Port Newark Light Industrial Park, a five-building, 113,743 s/f industrial portfolio located at 119, 175 & 182 Hill St. and 43 Hickory St. in Orange. Cushman & Wake- field’s Gary Gabriel, Kyle Schmidt, David Bernhaut and Ryan Larkin represented the seller, Sitex Group, in the transaction. The property was acquired by a joint venture be- tween affiliates of Westbrook Partners and Camber Real Estate Partners . “Shallow bay, multi-tenant- ed infill product is limited in this region, with no notable construction in the pipeline,” said Gabriel. “The buyer recognized the scarcity of in- ventory and the ability of the park to cater to a wide variety of occupiers.” Port Newark Light Indus- trial Park is a five-building industrial portfolio with unit sizes ranging from 2,500
Newark light industrial park aerial
to 13,500 s/f. Each unit features individual store fronts and dedicated load- ings docks. The portfolio is leased to 22 tenants. The portfolio is located immediately off Exit 11B of
Interstate 280, just west of the Garden State Parkway, the NJ Turnpike and the Port of NY/NJ. Cushman & Wakefield is a leading global real estate ser- vices firm that delivers excep-
tional value for real estate oc- cupiers and owners. Cushman & Wakefield is among the larg- est real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 coun-
tries. In 2021, the firm had revenue of $9.4 billion across core services of property, facili- ties and project management, leasing, capital markets, and valuation and other services. to be reliable. MAREJ
Made with FlippingBook - Online catalogs