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P Arts + Crafts Holdings buys five-property portfolio in Philadelphia Colliers International concludes investment sale for $36 million HILADELPHIA, PA — Colliers Interna- tional | Philadel-

ISSUE HIGHLIGHTS Volume 30, Issue 4 Feb. 23 - March 15, 2018 SPO TLIGHTS COMMERCIAL OFFICE ENVIRONMENTAL GREEN BUILDINGS STATUE OF LIBERTYMUSEUM TOPS OFF ON LIBERTY ISLAND CONSTRUCTION Section C

phia concluded the sale of a five-property portfolio to Arts & Crafts Holdings for $36.0 million in the East Callowhill section of Philadelphia, which is on track for a rebirth. Lo- cated north of the Center City Business District, and nestled between a major roadway and two cross city arterial routes, it is one of the last remaining swaths of raw developable land in the City. The five properties are part of the Willow Management Corporation’s family-owned portfolio of industrial and of- fice buildings stretching from Second St. to the east, Ninth St. to the west, Callowhill St. to the south, and Spring

million s/f of what it has cal- culated to be a 2 million s/f office submarket. Arts & Crafts Holdings is an active investor and the leading developer on the northern edge of Center City Philadelphia. Affiliates of Arts & Crafts Holdings currently own in excess of 1,200,000 s/f of commercial, residential & mixed use real estate. Arts & Crafts is fo- East Callowhill section of Philadelphia

Garden St. to the north. The sale encompasses over 195,000 s/f of commercial real estate properties/parcels. 1. 444 N 3rd & 309-15 Cal- lowhill St. 2. 437-461 N 3rd St. 3. 827 Spring Garden St. 4. 854-56 North 3rd St. + 302-308 Poplar St. 5. 600 Spring Garden St. The real estate company now controls in excess of 1.2

cused on establishing Phila- delphia’s authentic creative class commercial district at the northern edge of Center City Philadelphia. We seek to reimagine historic build- ings and the urban spaces between them creating a vibrant canvas for the new economy's entrepreneurs & makers. A neighborhood is more than the sum of its parts. n

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Sgambati and Loverde of Marcus and Millichap represent seller CenterPoint acquires 223,977 s/f facility at 27 DistributionWay in South Brunswick, NJ

PROFILES

SOUTHBRUNSWICK, NJ — CenterPoint announced the acquisition of a 223,977 s/f facility located at 27 Distribu- tion Way in South Brunswick. Ben Sgambati and Elsa Loverde of Marcus and Mil- lichap represented the seller. “This was an opportunity to acquire a fully leased build- ing in a very tight, Exit 8A submarket that has seen sig- nificant rental rate growth in

14A

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27 Distribution Way

the last 24-36 months,” said Evan Lippow , vice president of investments at CenterPoint. “This building benefits from above standard trailer parking and rail service – both features that attracted us to the invest- ment opportunity.” Located on 16 acres, the site is rail-served and has 28 load- ing positions. Additionally, the

site features a 220’ truck court and has 52 trailer parking spots, which exceeds market standards. With access to I-95, Route 130 and U.S. Hwy. 1, the site accommodates one to two daily trips to the Port of New York and New Jersey. “This is CenterPoint’s third acquisition in New Jersey in the last 12 months, and our

East Coast portfolio now con- sists of more than 12.5 million s/f located in the port related submarkets,” said PJ Charl- ton , senior vice president of investments at CenterPoint. “We have invested more than $2 Billion into the industrial sector in the last three years and look forward to continuing our growth in 2018.” n

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