Mid Atlantic Real Estate Journal — The Best of 2012 — March 29 - April 11, 2013 — C
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The Largest Industrial Sale of 2012 HFF Avidan Portfolio
NAI James E Hanson 1 BMW Plaza Montvale, NJ — 126,346 SF —
Berks County Industrial Authority Greater Reading Economic Partnership Berks Park 78, Bethel, PA — 900,000 SF — Bethel, Pennsylvania | 712,500 SF & 150,000 SF Available Approved Sites / 10 Year LERTA
Northern New Jersey — 2.6 million s/f —
Kenneth D. Lundberg, SIOR, Senior VP represented Life Time Fitness, of Chanhassen, Minnesota, in the acqui- sition of 1 BMW Plaza in Montvale, NJ for $8.7 million. 1 BMW Plaza is one of the original BMW parts distribution and corporate offices on the east coast. The site consisted of 9.3 acres, with a 129,346 square feet building, of which 38,804 feet was office area. Life Time Fitness, a NewYork Stock Exchange traded company, plans to redevelop the site into their third health and fitness center in New Jersey. Overall Life Time has 105 fitness centers around the country. Kenneth Lundberg
Contact: JeffreyWilliams
Berks County Industrial Authority Executive Direc- tor Tom McKeon and Jeffrey Williams, Cushman & Wakefield. Dollar General Corporation, a national retailer with more than 10,000 stores, and PetSmart Inc., a national retailer with more than 1,200 stores are both locating their new distribution centers in Berks Park 78, Bethel Township, Berks County. Dollar General has plans to construct a $100 million, state-of-the-art, 900,000 s/f facility. The project is expected to create at least 500 new jobs and an addi- tional 75 indirect trucking jobs. PetSmart has plans to construct a $50 million, 870,000 s/f facility. The project is expected to create at least 500 new jobs by 2016. 2TowerBridge | OneFayetteSt. Suite125 | Conshohocken,PA19428 Ph:610.772.2003 | C:215.284.2026 | Fx:610.260.0804 E-mail: jeff.williams@cushwake.com
Avidan Portfolio
Size: 9 properties, 2.6 million s/f Brokers:Michael Nachamkin, Jose Cruz, Andrew Scandalios, Jon Mikula, Kevin O’Hearn, Jeff Julien and Michael Oliver The sale of the Avidan Portfolio was the largest indus- trial deal in New Jersey in 2012 and the 15th largest in the United States. HFF represented the seller, af- filiates of Avidan Management, LLC in the sale of the nine-building, 2.6 million s/f to the buyer, an affiliate of Cohen Asset Management, Inc. The portfolio is a mix of bulk distribution, light industrial space, cold storage and office space located in South Brunswick, Edison, Elizabeth and Bayonne, New Jersey.
The sellers, which are three charitable trusts, were rep- resented by Blake Chroman of Jones Lang LaSalle
Mid Atlantic R EAL E STATE J OURNAL ’ S A NNUAL S POTLIGHT Industrial & Distributions Centers
APPEARING MAY 24 - DEADLINE MAY 10, 2013 This issue will publish as a special pullout section... featuring: • A special LISTING of all the Industrial Space transactions Recorded in MAREJ throughout 2012-13 • Bi-lined Articles submitted by Expert industrial brokers • Industrial Market Reports compiled by major companies Commercial Brokerage Firms who are actively involved in marketing Industrial space in the Mid Atlantic area are welcome to participate. This exclusive Industrial Space Spotlight is an excellent way to Reach 25,000+ Commercial Real Estate Professionals, Including Owners Developers & Tenants.
efanning@marejournal.com www.marejournal.com Call Linda or Elaine at 800-584-1062 for more information
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