From left: Ben Rosen of Duke Realty, SIOR New Jersey President Tom Vetter, Kevin Dudley of CBRE (accepting for Bill Waxman) and Mindy Lissner of CBRE celebrate the organization’s Largest Industrial Lease at its 2019 largest deal awards. — Courtesy: SIOR
By Joshua Burd
The Society of Industrial and Office Realtors’ New Jersey chapter hosted its annual largest deal awards on Feb. 27, highlighting some of the Garden State’s top transactions of 2019.
The highlight awards of the evening were in the industrial categories of sale and lease, the association said. Those honorees included:
- Largest sale: Tom Monahan of CRBE for his involvement in the 28-building acquisition by Colony Industrial from The Hampshire Cos.
- Largest industrial lease: Mindy Lissner and Bill Waxman, both of CBRE, for Home Depot’s 1.25 million-square-foot, 20-year lease with Duke Realty at 225 Elm St. in Perth Amboy.
“This was one of the largest leases ever done by Duke and the economic impact on Perth Amboy is tremendous,” said Ben Rosen of Duke Realty. “We spent over two years on environmental cleanup for a site that sat dormant for 10 years. Ultimately, Home Depot will have 500-600 employees on site as a cornerstone to their $1.2 billion supply-chain overhaul to enhance their one-day delivery system. Mindy and Bill deserve the credit and we appreciate our local and national affiliation with these tremendous SIOR dealmakers.”
SLIDESHOW: SIOR's largest deal awards
All photos courtesy: SIOR New Jersey
The other honorees included:
- Office lease: Sab Russo of Mercer Oak Realty for DuPont’s 30,000-square-foot lease in Ewing with CSPC/NovaRock Biotherapeutics
- Office sale: Russo of Mercer Oak Realty for United Fire Group’s 28,000-square-foot sale in Pennington to Flagler/RWJBarnabas Health
- SIOR cooperative (New Jersey): Monahan of CBRE and Stan Danzig of Cushman & Wakefield for Heitman’s 190,000-square-foot sale in Monroe to Taylor Communications
- SIOR cooperative (outside New Jersey): Mike Maroon of the Acclaim group LLC and Jack Whalen of Kidder Mathews for Caron Dominguez Properties LP’s 132,118-square-foot sale at 1650 Charles Willard St. in Carson, California to Savino Del Bene USA. Inc.
- Land: Monahan of CBRE for Pinnacle Materials’ 27-acre sale in East Brunswick to IDI
