Northern New Jersey Commercial Real Estate News recent headlinesCoStar's People of Note (Dec. 14 - 20)
It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: New York City, Cleveland, Washington DC, Chicago, Charlotte, Dallas, Oklahoma City, Nashville, Detroit, Atlanta, and South Florida.
NEW YORK CITY
REBNY Banks on New President
By Justin Sumner
The Real Estate Board of New YorI-78 Logistics Ctr Sold for $28.1M
Woodmont Industrial Partners and AEW Capital Management sold the I-78 Logistics Center building at 111 Cokesbury Rd. in Clinton, NJ to Safavieh, Inc. for almost $28.07 million, or $38.50 per square foot.
The sale comes immediately after a $4-million capital improvements program that included the addition of 36 new loading dock positions, T-5 lighting, and new HVAC and sprinkler system along with a parking lot expansion.
Also known as the I...Lincoln Equities Wraps Record Year With Approvals for Six Tri-State Projects
Lincoln Equities Group (LEG) LLC has managed and negotiated approvals for some of the tri-state area's largest and most complex mixed-use developments through its redevelopment and land use division this year.
"We like doing multifaceted redevelopment projects on brownfield sites," said Robert Schenkel, senior director of development for LEG. "In many cases, other firms attempted to develop these sites before we came in and were not successful...The Point at Fort Lee Trades for $120M
Pantzer Properties acquired The Point at Fort Lee, a 351-unit apartment building at 900 Crest Ln. in Fort Lee, NJ from Capri Capital Partners LLC for $120 million, or about $342,000 per unit.
The four-story, 387,037-square-foot multifamily property was constructed in 1999 on 13.1 acres in the Bergen County Waterfront submarket. It is comprised of a mix of one-, two-, and three-bedroom models with asking rents between $1,900 and $2,420 per month...SHAKE UP: Santora Named To Replace Underhill as CEO of Cushman & Wakefield
Jim Underhill's four-year tenure as CEO of Cushman & Wakefield's North American operations ended abruptly this week as the firm confirmed today that he had left the company and that longtime C&W insider John C. Santora had replaced him as head of the firm's largest global operating region.
A 37-year veteran of the firm, Santora most recently served as president and CEO of Cushman & Wakefield’s Corporate Occupier & Investor Services group, which...ASME To Relocate to Overlook Corporate Center
The American Society of Mechanical Engineers (ASME) signed a long-term lease for 32,500 square feet at Overlook Corporate Center, a Class-A trophy office building
at 150 Clove Road in Little Falls, New Jersey.
The not-for-profit membership organization will relocate its New Jersey operations from 22 Law Drive in Fairfield, NJ, to occupy the entire sixth floor of the 415,000-square-foot property in the first half of 2015.
Leon Manoff, vice chairman...Urstadt Biddle Acquires Four New Jersey Shopping Centers
New Jersey commercial real estate
owner and developer Gabrellian Associates has sold four shopping centers across Northern New Jersey for $124.55 million, or an average $328 per square foot, to Urstadt Biddle Properties, Inc.
Midland Park Shopping Center is a 130,000-square-foot retail property in Bergen County anchored by Kings Supermarket. The asset is 100 percent leased to tenants including CVS, Petco, Starbucks, and Hudson City Savings Bank...Panasonic HQ In Newark Earns Both Platinum and Gold LEED
Panasonic Corp. of North America's headquarters at Two Riverfront Plaza has become the first newly built office tower in Newark, NJ to earn both Platinum and Gold LEED certifications.
The U.S. Green Building Council for Commercial Interiors awarded the Leadership in Energy and Environmental Design (LEED) Platinum Certification to the 340,000-square-foot, 12-story office tower delivered last year. Earlier this year, the building earned LEED Gold...Parkwood Place Apts Sold for $23.8M
Alex. Brown Realty, Inc. and TreeTop Development LLC sold the 294-unit Parkwood Place Apartments at 352-376 Mount Prospect Ave. in Newark, NJ to RJ Block for $23.8 million, or about $81,000 per unit.
The 190,700-square-foot multifamily complex was constructed in 1955. Spread across seven buildings, the property is comprised of studio, one-, and two-bedroom apartments featuring hardwood floors, controlled access parking, and a gated entrance....Call for Entries Issued for 2014 CoStar Power Broker Awards!
It's time for the Top Dealmakers in Commercial Real Estate
to stand up and be recognized!
Each year, CoStar Group is proud to present CoStar Power Broker AwardsTM to the top real estate brokerage firms and brokers who achieved remarkable sales and leasing success in their respective market. As the largest professional research organization serving the commercial real estate industry, CoStar is uniquely positioned to track leasing and sales transactions...Subaru Confirms Location for New HQ in Camden, NJ
Subaru of America Inc. confirmed that it has identified an all-new development in Camden, NJ, as its preferred location for a new corporate headquarters. The site, which is four miles from the company's current location at 2235 Marlton Pike W in Cherry Hill, NJ, is adjacent to the Campbell Gateway District and is currently owned by Campbell Soup Co.
Subaru of America expects to house more than 500 employees and contractors in the new 250,000-square...Cornerstone Pays $41.7M for Village at Cambridge Crossing
Cornerstone Real Estate Advisers, Inc. acquired the Village at Cambridge Crossing, a neighborhood center at 4010 SR 38 in Mount Laurel, NJ from Paramount Realty Services, Inc. for $41.7 million, or about $326 per square foot.
The fully-leased retail shopping center sits at Exit 40 on I-295. It totals about 127,993 square feet and is anchored by LA Fitness. Other tenants of Cambridge Crossing include Chico's, Verizon Wireless, Ruby Tuesday, and...
LB Commercial Realty News & Articles
Moves to a larger facility:
Read more about LB Commercial real estate recent
relocation to a larger facility located in Closter, NJ.
Press Release June
2008: This release is information about how LB Commercial was named
exclusive leasing brokers of Rockleigh
Corporate Center, one of the most prestigious towns of New Jersey.
NJBIZ Top 50 NJ 2006:
New Jersey's top real estate brokerage companies in 2006.
2006-2007: This newsletter published in 2006, pertains to the approach
LB Commercial will take for the future of New Jersey's real estate market.
Top 50 Commercial
Award: NJ Biz magazine announces LB Commercial Real Estate as a top
Commercial Real Estate brokerage company in 2006
Real Estate: Press release from The Record published in 2007
pertaining to the industrial real estate reversing the 2nd quarter slide.
Record Article Jan 2008: Press release from The Record
published in 2008 covering the history and recent achievements of LB Commercial
Bergen Record Article:
Press release from The Record published in 2007 reviewing the
history and an in depth perspective of of LB Commercial Real Estate.
5 Reasons The Economy Might Recover Faster Than You Think - MSN Money -
Article pertaining to how the financial outlook of 2009 might improve faster
than elected officials proclaim.
Repex Investments December
2008 Report: Information regarding weekly Dow Jones, NYSE and Standard
and Poor 500 index reports for December 29, 2008.