By Joshua Burd
NAIOP New Jersey has announced the finalists for its high-profile Deal of the Year awards in the industrial and office sectors.
The commercial real estate association, which will reveal the winners at its 36th Annual Commercial Real Estate Awards Gala on May 18, said the nominees in each category include:
- Home Depot’s lease at Monroe 8A Logistics Center in Monroe: One of the largest warehouses in New Jersey, Monroe 8A Logistics Center, a 1.28 million-square-foot industrial development by Brookfield Properties, was able to secure — with the aid of JLL as its leasing team — a long-term lease with Home Depot, which was represented by CBRE.
- Involved in the deal: Brookfield Properties, JLL, Sansone, QuadReal, Colliers, and Apollo
- Bridge Point 78 Phase II in Phillipsburg: In October 2022, a multinational e-commerce and third-party logistics, publicly traded platform signed a 1.25 million-square-foot, long-term lease for the entirety of Bridge Industrial’s Class A development, Bridge Point 78 Phase II. This marked one of New Jersey’s largest leases of the year.
- Involved in the deal: Bridge Industrial
- Samsung @ Linden Logistics Center in Linden: In one of the largest transactions of the year, JLL represented Samsung in securing 735,220 square feet in New Jersey’s largest industrial park under development, minutes from Port Newark-Elizabeth, from survey to lease execution in just two months.
- Involved in the deal: Advance Realty Investors, JLL and Greek Development
- Englewood Health consolidation and expansion in Englewood: A CBRE team was charged with finding 100,000 square feet of commercial space near Englewood Hospital’s central location, in a supply-constrained corridor of the city that would also suit the clinical needs of Englewood Health in terms of scale, build-out potential and convenience for staff and patients.
- Involved in the deal: CBRE and Englewood Health
- Sale of 101 Hudson in Jersey City: This historic, $346 million sale represented New Jersey’s largest office trade in 2022 and one of the largest investor office trades in the state’s history. Executed during one of the most challenging capital markets environments, the sale was a monumental achievement in Veris Residential’s (formerly Mack-Cali Realty Corp.) eight-plus-year strategic office disposition plan.
- Involved in the deal: Cushman & Wakefield, The Birch Group and Veris Residential
- Avis Budget Group at Latitude in Parsippany: Avis Budget Group relocated its world headquarters to Latitude, a state-of-the-art, 700,000-square-foot office complex owned by Vision Real Estate Partners and Rubenstein Partners. The creative office condominium transaction resulted in the retention of 600 New Jersey jobs and significant financial benefits to the occupier, owner and the state.
- Involved in the deal: Vision Real Estate Partners, Rubenstein Partners, Newmark, CBRE, Charles Applebaum, Esq., Fox Rothschild LLP, Greenbaum Rowe Smith & Davis LLP and Giordano Halleran & Ciesla PC
- Fiserv New Jersey headquarters at The Park in Berkeley Heights: Fiserv Inc.’s 411,954-square-foot, long-term lease at The Park was New Jersey’s largest new office lease in 2022. Fiserv’s financial technology hub, one of the largest on the East Coast, will bring together existing and future New Jersey employees as they collaborate and innovate in an inspiring workplace environment.
- Involved in the deal: Cushman & Wakefield; The Connell Co., Fiserv, VVA Project Management Co., GS Ferguson Group LLC, Mancini Duffy, Ted Moudis & Associates, Structure Tone, Robert Derector Associates and Husch Blackwell LLP
The gala, which will take place at The Palace at Somerset Park in Somerset, will also honor NAIOP New Jersey’s 2023 Commercial Real Estate Awards recipients:
- Charles Klatskin Lifetime Achievement Award: Robert Donnelly, Cushman & Wakefield
- Impact Award: Christopher Paladino, New Brunswick Development Corp.
- Impact Award: George Jacobs, Jacobs Enterprises Inc.
- Industry Service Award: Meryl A.G. Gonchar, Sills Cummis & Gross PC
- Caren S. Franzini Public Partner Award: Lt. Gov. Sheila Y. Oliver
NAIOP’s members-only ticket presale for the gala is open now through March 24, the association said. Ticket sales will open to the public on March 25 unless the event is sold out.