N EW J ERSEY 8B — September 23 - October 20, 2022 — New Jersey — M ID A TLANTIC Real Estate Journal
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JLL Capital Markets team rep. seller and procures buyer, Edgewood Properties JLL Capital Markets sells 250,000 s/f of fi ce building in Northern New Jersey B
ASKING RIDGE, NJ — JLL Capital Markets has completed the sale of Westgate, a vacant, 250,000 s/f office property in Basking Ridge. JLL represented the seller, and procured the buyer, Edge- wood Properties , who is actively seeking a tenant for the property. Completed in 1991, Westgate previously served as the head- quarters for Everest Reinsur- ance before they relocated to larger space at nearby War- ren Corporate Center. The two-wing layout, each with separate entrance and eleva- tor bank, with a dramatic full- height central lobby, provides a wide range of space flexibility. In addition, the four-story, granite-clad building features in-demand tenant amenities, including large private balco- nies, full-service cafeteria, mod- ern fitness center, large ter- race overlooking a picturesque fountain pond, conference room
Westgate
space, several generators, and a sprawling 34.6-acre site with manicured landscaping. West- gate also features a 116-space parking garage and plentiful surface parking. The property is located at 477 Martinsville Rd. in the af- fluent community of Basking Ridge, which has an average household income of $212,127,
and is home to a variety of ma- jor corporations and pharma- ceutical companies as well as the Memorial Sloan Kettering Cancer Center next door. In addition, the immediate area surrounding Westgate is highly amenitized with numerous restaurants and cafes, national hotel chains, recreation and entertainment options. West-
gate is also in close proximity to area highways, including Interstates 78 and 287 and Rte. 22, and to the Lyons NJ Transit station providing connections to New York City and throughout the state. The JLL Capital Markets team representing the seller was led by senior managing directors Jose Cruz, Kevin
O'Hearn and Sean Ryan, managing directors Steve Sim- onelli and Michael Oliver and vice president Grace Braverman. According to O’Hearn, “Westgate is a trophy asset which should benefit from the ‘flight-to-quality’ tenant trend we’re currently seeing in the market.” MAREJ
Richardson & Ceroli of Vantage Commercial represent global technology company with long-term industrial lease
Commercial and Needleman Management. There was full engagement from all parties
MT. LAUREL, NJ — Van- tage Commercial announced a long-term lease at 200 Centu-
on the tech- nical aspects of the lease and design of the space which pays particular attention to Antares Vi- sion Group’s operational
ry Parkway, Mt. Laurel. Antares Vi- sion North Ame r i c a , LLC has exe- cuted a lease for 21,940 s/f of indus- trial/flex space with
Ken Richardson Vince Ceroli
flow. 200 Century Parkway is located with easy access to I -295 and the NJ Turnpike, and it is within 30 minutes of the Philadelphia International Airport. Close proximity to the airport was crucial for Antares Vision Group to service their global customers. Ken Richardson , executive director, and Vince Ceroli , sales associate at Vantage Commercial, represented the tenant and worked closely with the landlord. “I have known Andrew Pi- etrangelo, president of Antares North America for 25 years. We worked together in our early pharmaceutical careers and continued to do business together. My previous pharma- ceutical industry experience
Needleman Management Company, Inc. , owner of 200 Century. This is a major move for Antares Vision Group as they are currently located in Moorestown and have expe- rienced substantial growth within their industry. Antares Vision Group is an Italian-based publicly traded company with a large division in NJ. The company’s focus is vision inspection equipment for the pharmaceutical indus- try, specializing in particulate inspection, tablet inspection and Track and Trace technol- ogy. The new space will be comprised of office space as well as a large assembly and testing area for their com- pleted machinery. The lease process was fluid between An- tares Vision Group, Vantage
200 Century Parkway
service commercial real estate brokerage and advisory firm serving New Jersey, Phila- delphia and Eastern Pennsyl- vania. Vantage Commercial specializes in all aspects of commercial real estate includ- ing: Landlord Representa- tion, Tenant Representation, Healthcare Real Estate Ser- vices, Investment Sales and Ac- quisitions, Multi-Family Sales and Acquisitions, Business Brokerage, Land Sales, Land Development, Property Man- agement, Property Valuations and Advisory. Vantage Com-
mercial is guided by the core belief that in order to achieve success, we must think like a client but perform like a part- ner. We have the optimal team in place to service any com- mercial real estate project and we work hard to achieve our client’s goals. Each member of the Vantage Commercial team brings a unique background and perspective to the market. Combined, we have tremen- dous, unmatched experience that shows in our success in the CRE market in New Jersey and Pennsylvania. MAREJ
made it effortless to find the perfect new location for the An- tares Vision Group team. Once we identified the location, we engaged with David Cohen and Jackie Needlema n and the rest of the Needleman team. The entire process with both Antares Vision Group and Needleman was enjoyable and efficient. We are pleased that Antares Vision Group moved into their new location on June 15, 2022,” Richardson said. Headquartered in Cherry Hill, NJ, and Philadelphia, Vantage Commercial is a full-
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