The team behind the 1888 Studios project in Bayonne received the Emerging Markets Deal of the Year award during this year’s NAIOP New Jersey’s Commercial Real Estate Awards Gala. — All photos by Gellman Images (Courtesy: NAIOP New Jersey)
By Joshua Burd
NAIOP New Jersey’s annual Commercial Real Estate Awards Gala drew a sold-out crowd last week for a night of networking and a showcase of the industry’s best and brightest.
The May 14 event, held at The Palace at Somerset Park in the Somerset section of Franklin, featured six individual honorees and the highly anticipated Deal of the Year awards. And it provided a significant infusion of funds for the influential commercial real estate industry trade association, which has played a major role in New Jersey for more than 50 years.
The event marked the 39th year of the gathering.
“The Gala is NAIOP’s flagship fundraiser every year, with all proceeds going back into the organization and its mission to elevate the state’s commercial real estate industry by providing advocacy, education, research and connections,” NAIOP New Jersey CEO Dan Kennedy said. “We had another sold-out event this year and the energy in the room was fantastic, and the honorees were all so deserving. It was a night that reflected all that this chapter stands for — supporting and celebrating our community.”
See below for a slideshow from the event and the full list of honorees.
All photos are by Gellman Images, courtesy of NAIOP New Jersey.
2026 Commercial Real Estate Awards Honorees
- Charles Klatskin Lifetime Achievement Award: Edwin Cohen, principal, Prism Capital Partners
- Impact Award: Clark Machemer, senior managing director with Crow Holdings Development
- Impact Award: Robert C. Kossar, vice chairman of JLL’s Northeast industrial region
- Industry Service Award: Dana Nalbantian, principal with Gensler
- Caren S. Franzini Public Partner Award: East Brunswick Mayor Brad J. Cohen
- Caren S. Franzini Public Partner Award: Bedminster Township Mayor Lawrence F. Jacobs.
Deals of the Year
Deal of the Year winners were chosen by a panel of judges based on impact on the community and marketplace, degree of complexity and/or uniqueness, innovative strategies and creative problem solving.
“This year’s group of deal finalists all clearly illustrate the talent and creativity driving the industry forward,” Kennedy said. “Our winners are exemplary transactions that raise the bar for quality commercial real estate product in New Jersey.”
Office: Freshpet Global Headquarters, Bedminster
This 32,000-square-foot build-to-suit workplace was developed by Advance Realty Investors for Freshpet, the NASDAQ-listed leader in refrigerated pet food.
- Involved in the deal: Advance Realty Investors, Iron Hill Construction Management, Studio 1200 and NAI James E. Hanson
Mixed-Use: Bell Works Fort Monmouth, Tinton Falls
Inspired by Somerset Development acquired the Commvault headquarters in New Jersey to transform it into Bell Works Fort Monmouth, its third location under Ralph Zucker’s metroburb model.
- Involved in the deal: Inspired by Somerset Development, H.I.G. Realty Partners, NAI James E. Hanson, JLL Capital Markets, EquityMultiple and Antenna Group
Industrial: Millstone 8 Logistics Park, Millstone
Millstone 8 is a 1.2 million-square-foot industrial project in New Jersey’s Exit 8/8A submarket developed by Crow Holdings Development and 2020 Acquisitions.
- Involved in the deal: Crow Holdings Development, 2020 Acquisitions and JLL
Emerging Markets: 1888 Studios, Bayonne
1888 Studios will be the largest film studio in the Northeast — a 58-acre film studio campus located on a 74-acre vacant brownfield site.
- Involved in the deal: Togus Urban Renewal LLC, Sills Cummis & Gross PC, Gensler, Turner Construction, Pizzutillo Public Affairs LLC, U.S. Title Solutions LLC, City of Bayonne, New Jersey Economic Development Authority, Biggins Lacy Shapiro & Co. LLC, Benecke Economics, Langan, PS&S, SESI Consulting Engineers and Elysian Consulting LLC
Transformative: Sanofi flagship at M Station West, Morristown
SJP Properties and Scotto Properties secured a lease with Sanofi to relocate its New Jersey headquarters to a flagship development at M Station West in Morristown.
- Involved in the deal: SJP Properties, Sanofi, Scotto Properties, Cushman & Wakefield and CBRE
