JLL's NJ Office Earns Two NAIOP NJ Awards, For Healthcare and Industrial Projects
EAST RUTHERFORD, NJ—The New Jersey chapter of NAIOP recognized Jones Lang LaSalle's New Jersey office with awards two deals, one in health sciences and one industrial, that the firm handled.
By Steve Lubetkin |
stevelubetkin ||May 25, 2016 at 03:55 AM
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EAST RUTHERFORD, NJ— The New Jersey chapter of NAIOP , the commercial real estate development association, has recognized Jones Lang LaSalle’s New Jersey office with two awards, the Industrial Deal of the Year Award for its participation in leasing the Elizabeth Logistics Center in Elizabeth, NJ, and a Judge’s Award for its work with Advance Realty to bring Nestlé Health Science to the New Jersey Center of Excellence in Bridgewater, NJ. “ JLL remains a leading force in New Jersey commercial real estate,” says Robert Kossar, SIOR, executive managing director of the New Jersey JLL office. “Developers and building owners through the state continue to rely on JLL’s ability to successfully oversee large, complex transactions. Both of these efforts brought new tenants to New Jersey, along with hundreds of new jobs, and will have a far reaching impact on the Garden State for many years.” As previously reported by GlobeSt.com , in October Nestlé Health Science announced it would bring a global research and development headquarters for a new product technology center – including employees from around the world – to the 1.2 million-square-foot New Jersey Center of Excellence , which has a state-of-the-art infrastructure that includes modern lab facilities, redundant utilities and cutting-edge communications capabilities. The company signed a long-term lease for 180,000 square feet at the campus. JLL’s Dan Loughlin , international director and head of office brokerage in New Jersey; Craig Eisenhardt , senior vice president; and Robert Ryan and Scott Stange , vice presidents, represented building owner Advance Realty in the transaction, along with Advance Realty’s Kurt Padavano , COO, and Barry Quiner , director of asset management. Timothy Greiner and Joseph Zona , executive managing directors, and Kevin Duckler , managing principal, all with Newmark Grubb Knight Frank , represented Nestlé Health Science in the transaction. Elberon Development Group and The Avidan Group jointly developed the Elizabeth Logistics Center , which includes a 90,000-square-foot, two-building, class A warehouse facility under construction at 851 Julia Street in Elizabeth, NJ, at Interchange 13A of the New Jersey Turnpike. The Elizabeth Logistics Center is located just five minutes from Port Newark/Elizabeth, the second largest seaport in the nation, and Newark Liberty International Airport. JLL’s David Knee , senior managing director and head of industrial brokerage in New Jersey; Christopher Hile , senior vice president; and Gary Politi , associate, brought Pilot Freight Services to the table for half of the under-construction property. The full-service global transportation and logistics company needed to be as close to Newark Liberty International Airport as possible, and 851 Julia Street was the only industrial facility near the airport that could provide Pilot Freight with the number of loading bays it required to service its customers. Pilot Freight signed a 10-year lease for 44,250 square feet at 851 Julia Street in late 2015, and the firm will move into the newly constructed building in late 2016. Josh Avidan , president of The Avidan Group ; and Dave Gibbons , president & CEO of Elberon Development , and Terry Armstrong , vice president of leasing and acquisitions for Elberon Development , represented the building owners in-house.
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