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NAIOP New Jersey Announces Deal of the Year Finalists
Winners will be Revealed May 16 at 32nd Annual Commercial Real Estate Awards Gala

NEW BRUNSWICK, N.J., Mar.18, 2019 – The New Jersey Chapter of NAIOP, the Commercial Real Estate Development Association, has announced the finalists for its highly coveted Deal of the Year Awards. Three winners, one each for Industrial Deal of the Year, Office Deal of the Year and Mixed-Use Deal of the Year, will be revealed at the 32nd Annual Commercial Real Estate Awards Gala, which will be held on Thursday, May 16 at The Palace at Somerset Park in Somerset, N.J.

The Industrial Deal of the Year finalists are:

Linden Logistics Center, Linden: With over 100 years of chemical manufacturing, 30 total years of environmental cleanup and 15 years of vacant, idle land at Tremley Point, Linden, in 2018, it was time for the team of Greek Development, Advance Realty and CBRE to acquire the site and start the 4.1 million SF warehouse redevelopment and transformation on this site. Involved in the deal: CBRE; Advance Realty; and Greek Development.

Quest Diagnostics Lab at Prism’s ON3, Clifton: Quest Diagnostics purchased a 12-acre parcel at Prism Capital Partners’ ON3 for the construction of a 250,000-square foot laboratory – the first new ground-up development at the former Hoffmann-La Roche North American Headquarters campus. This highly significant transaction punctuates the ongoing transformation of the 116-acre site into a vibrant, multi-tenant lifestyle hub.

Involved in the deal: Prism Capital Partners LLC; Quest Diagnostics; CBRE; Fox Rothschild LLP; Waters, McPherson, McNeill, P.C.; Flad Architects; and GRE.

The Office Deal of the Year finalists are:

Gateway Center Acquisition, Newark: A new era for Gateway Center in Newark as New Jersey’s most prominent transit hub office complex is now under majority ownership.  The joint venture among Garrison Investment Group, Axonic Capital LLC, Taconic Capital Advisors, Prudential Financial, and Onyx Equities, LLC acquired One, Two and Four Gateway Center. Involved in the deal: Onyx Equities, LLC; Garrison Investment Group; Axonic Capital LLC; Taconic Capital Advisors; and Prudential Financial.

Integra LifeSciences HQ Relocation, Princeton: Cushman & Wakefield facilitated the headquarters consolidation for Integra LifeSciences, a world leader in medical technology and Fortune’s 100 Fastest Growing Companies, into a 167,000- square-foot Trophy Class A building in Princeton. The ultimate transaction involved a lease buyout, purchase of an existing installation, execution of a new lease, and awarding of state incentives. Involved in the deal: Cushman & Wakefield; Integra LifeSciences; HLW International; Black Creek Group LLC; Fox Rothschild LLP; Sills Cummis & Gross P.C.; and Newmark Knight Frank.

Teva Pharmaceuticals HQ Lease at MCCBLUE, Parsippany: In New Jersey’s largest office lease of 2018, Teva Pharmaceuticals USA leased 345,000 square feet at P3 Properties’ MCCBLUE. Cushman & Wakefield and JLL brokered the long-term deal, through which the world’s largest generic medicines maker will relocate its U.S. headquarters from Pennsylvania to Parsippany, supporting over 1,000 jobs. Involved in the deal: Cushman & Wakefield; P3 Properties; JLL; and Teva Pharmaceuticals.

The Mixed-Use Deal of the Year finalists are:

400 Claremont, Jersey City: Cole Schotz represented 400 Claremont Renewal, LLC on its purchase and plans to redevelop a 2.73-acre site located at 400 Claremont Avenue in Jersey City, N.J. Involved in the deal: Cole Schotz, P.C.; and CBRE.

Ironside Newark, Newark: Edison Properties has substantially completed the adaptive reuse of Ironside Newark, the transformative 21st Century Workplace in the heart of Newark’s revitalized downtown. The 456,000 square-foot, mixed-use commercial destination has already attracted multiple tenants, including a long-term, 148,500- square-foot lease with Mars Wrigley Confectionery, in a transaction arranged by CBRE.

Involved in the deal: Edison Properties; Beckerman; Newark Community Development Corporation; Perkins Eastman; Langan Engineering and Environmental Services; CBRE; Genova Burns; and Riker Danzig Scherer Hyland & Perretti.

The recipients of the 2019 Commercial Real Estate Awards will also be honored at the Gala. Andrew J. Merin of Cushman & Wakefield will receive the Lifetime Achievement Award. The Impact Awards will be presented to Greek Development, and Whitesell Construction Co., Inc. Gretchen S. Wilcox of G.S. Wilcox & Co. will be recognized with the Industry Service Award. New Brunswick Mayor James M. Cahill will receive the Caren S. Franzini Public Partner Award.

For complete details and updates and to order tickets, visit NAIOPNJ.org/Gala32.

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