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Release Date: Friday, February 28, 2014
Media Contact: Evelyn Weiss Francisco (201) 796-7788
Winners to be Revealed at Twenty-seventh Annual Commercial Real Estate Awards Gala On May 15
NEW BRUNSWICK, N.J., Feb. 28, 2014 – NAIOP New Jersey, 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/Mixed-Use Deal of the Year, and Creative Deal of the Year, will be revealed at the Twenty-seventh Annual Commercial Real Estate Awards Gala on Thursday, May 15, 2014 at The Palace at Somerset Park.
The finalists for Industrial Deal of the Year are:
- Home Depot at Federal Business Centers(Keasbey). “Expanding intermodal” could be coined as the industrial phrase of the year. As the largest lease to close in NJ during 4Q13, this transaction is a paramount example of increasing intermodal needs. The success of this deal hinged on outside storage needs, price sensitivity and heavy rail capabilities. Involved in the deal were: CBRE, Federal Business Centers and Home Depot, USA.
- NFI Park @ Florence Crossings (Florence). Two build-to-suit projects located in Florence, NJ: A 526,050 SF Northeast Distribution Center for Subaru of America, Inc. and a 238,732-square-foot pharmacy fulfillment center for Express Scripts Pharmacy, Inc. Both are state of the art construction with 650-700 temporary construction jobs and approximately 750 permanent jobs. Involved in the deal were: NFI, Subaru of America Inc., Express Scripts Pharmacy, Inc., CBRE, Arco Design Build, Ware Malcomb, Taylor Wiseman & Taylor, Wells Fargo and Florence Township.
The finalists for Office/Mixed Use Deal of the Year are:
- Valeant Pharmaceuticals International, US Headquarters(Bridgewater). Cushman & Wakefield served as exclusive agent for Valeant Pharmaceuticals in its 310,000-square-foot U.S. headquarters lease at SJP Properties’ Somerset Corporate Center in Bridgewater. The largest new office lease completed in 2013, the deal retained 274 jobs in the state and will create another 550 new full-time jobs, and was key to reinforcing New Jersey’s pharmaceutical industry dominance and launching the Grow NJ program. Involved in the deal were: Cushman & Wakefield, Valeant Pharmaceuticals and SJP Properties.
- GAF Headquarters(Parsippany). GAF conducted a comprehensive multi-state search with CBRE to secure a single facility to consolidate its current multi-building HQ campus into a Class A environment with easy access and high visibility. Normandy Partners is advising GAF, including acting as the project manager, on the upgrade of the new corporate headquarters. Involved in the deal were: GAF, CBRE and Normandy Real Estate Partners.
The finalists for Creative Deal of the Year are:
- The New Jersey Center of Excellence at Bridgewater(Bridgewater). A successful rebranding and repurposing of a major pharmaceutical research campus in a 12-month period utilizing a focused leasing program and capital markets platform to create a value opportunity investment and redevelopment opportunity sale.Involved in the deal were: Jones Lang LaSalle, Advance Realty, Sanofi, JM Zell, Ashland Inc., CrossHarbor Capital Partners LLC, Amneal Pharmaceuticals LLC, Colliers International, Cresa NJ and Bridgewater Township.
- Bell Place(Holmdel): The sale of the 2-million-square-foot, 472-acre former Bell Labs research facility in Holmdel marked the culmination of an 11-year endeavor to secure and define the future of this historically significant property. Somerset Development will transform the building, designed by renowned architect Eero Saarinen, into a dynamic, mixed-use town center. Involved in the deal were: Cushman & Wakefield, Somerset Development, Alcatel-Lucent, and Giordano, Halleran & Ciesla, P.C.
The Gala will honor the recipients of the 2014 Commercial Real Estate Awards. Lawrence Russo, Jr. of Russo Development will receive the Lifetime Achievement Award. The Impact Awards will be presented to Vision Real Estate Partners, and Robert Donnelly of Cushman & Wakefield. The Industry Service Award will be presented to Jorge H. Berkowitz, Ph.D. of Langan Engineering & Environmental Services. “This is simply an outstanding group of honorees and commercial real estate deals, and we’re looking forward to celebrating their achievements at the Gala on May 15,” said NAIOP New Jersey President Michael Seeve of Mountain Development Corp.
The 27th Annual Gala is chaired by Dave Gibbons of Elberon Development Co., Jonathan Meisel of Jones Lang LaSalle, and David Gockel of Langan Engineering and Environmental Services. For updates please visit and bookmark www.naiopnj.org/Gala27 For tickets, commemorative journal and sponsorship information, please contact Bonnie Sovinee at 732-729-9900.