700 and 800 Sylvan Avenue Redevelopments
Following decades of occupancy, changing needs and an evolving sustainability mandate threatened Unilever’s departure from 700 and 800 Sylvan Avenue in Englewood Cliffs. Yet in 2016, a series of Cushman & Wakefield-led transactions resulted in redevelopments at both properties, including Project Unify, one of the East Coast’s most energy-efficient and highly advanced corporate facilities. Involved in the deal: Cushman & Wakefield, Normandy Real Estate Partners, and OVG Real Estate.
Daiichi Sankyo Relocation to 211 Mt. Airy Road
Ownership of the newly renovated, 211 Mt. Airy Road in Basking Ridge crafted a multi-part deal which allowed Daiichi Sankyo to consolidate its operations into one U.S. headquarters, while providing existing tenant, Avaya, a suitable relocation solution. From inception to signing, this deal was accomplished in 60 days. Involved in the deal: Onyx Equities, Onyx/Rubenstein, Daiichi Sankyo, Newmark Grubb Knight Frank, and Cushman & Wakefield.
Summit Medical Group MD Anderson Cancer Center Built-to-Suit Lease
Summit Medical Group, the largest physician-owned multispecialty medical practice in the state, committed to a 130,000-square-foot, build-to-suit lease at Rockefeller Group’s The Green at Florham Park. The site will house the Summit Medical Group MD Anderson Cancer Center, which will provide world-renowned cancer care to residents throughout Northern New Jersey. Involved in the deal: Rockefeller Group, Summit Health Management, Cushman & Wakefield, Riker Danzig Scherer Hyland & Perretti, Rotwein & Blake, Bohler Engineering, Vanderwell Engineering, O'Donnell & Naccarato, Nixon Peabody LLP, Stantac Consulting Services, Inc. Services, Inc., Cannon Design, Mitchell Planning, and Gilbane Building Company.
Blue Apron Becomes Largest Legacy Commerce Center Tenant
Duke Realty’s master-planned redevelopment of the former General Motors assembly plant in Linden, New Jersey – branded as the Legacy Commerce Center – revived an area that had lost thousands of jobs after the closing of GM’s facility. In 2016, CBRE facilitated a 495,000-square-foot lease with Blue Apron, now the largest tenant in the industrial park. Involved in the deal: CBRE, Duke Realty, and Blue Apron.
E-Commerce Giant at Cranbury Station ParkFollowing the speculative development of a 930,000 SF industrial facility at Cranbury Station Park in Cranbury, Rockefeller Group and Alfieri, LLC leased 1.24 million square feet to an e-commerce giant at the Class A, state-of-the-art warehouse and distribution property. The transaction epitomizes the desirability of New Jersey’s industrial market. Involved in the deal: Rockefeller Group, Cushman & Wakefield, Alfieri, LLC.
Mixed-Use Deal of the Year Finalists
Hoffman LaRoche US HQ and R&D Campus
The successful disposition of a major 116-acre pharmaceutical headquarters and research & development campus. Prism Capital Partners and a Boston-based investment manager purchased the campus in Nutley and Clifton, and JLL secured Hackensack Meridian Health and Seton Hall University to anchor the property's redevelopment as a preeminent mixed-use commercial location as a "new urbanism" benchmark. Involved in the deal: JLL; Prism Capital Partners, Fox Rothschild LLP, Real Estate Strategies Group LLC, Franzini Consulting LLC, Hackensack University Medical Center, Cushman & Wakefield, Windels Marx, Connell Foley LLP, and Inglesino, Webster, Wyciskala & Taylor LLC.
iCIMS Becomes Anchor Tenant at Iconic Bell Works MetroburbOnce the largest single vacant commercial building in the U.S., the two million square foot former Bell Labs research facility in New Jersey is being transformed by Somerset Development into Bell Works, New Jersey’s largest metroburb. In 2016, The Garibaldi Group, CORFAC International and CBRE facilitated a 350,000-square-foot lease with iCIMS, now the largest tenant in the building. Involved in the deal: Somerset Development, The Garibaldi Group, and CBRE.