More than 800 attendees turned out to honor the Garden State’s commercial real estate community at NAIOP New Jersey’s 31st Annual Awards Gala. The black tie event, held at the Palace at Somerset Park, recognized the achievements of leading professionals and organizations and the state’s most impactful transactions of 2017.
NAIOP New Jersey President Dave Gibbons of Elberon Development Group said, “The individuals and firms we honor tonight represent the commercial real estate industry’s best and brightest. To each of our honorees, your teams and all of the Deal of the Year finalists, we offer our gratitude and respect for your commitment to revitalizing communities and ensuring that New Jersey remains competitive and attractive to its residents and businesses.”
NAIOP New Jersey awarded its highest honor, the Lifetime Achievement Award, to Jon F. Hanson, chairman of The Hampshire Companies. Hanson was recognized for his distinguished record of exemplary service to the industry and to the community, as well as for his significant personal accomplishments.
Woodbridge Mayor John E. McCormac received the Caren S. Franzini Public Partner Award, which recognizes local champions of development that inspire and transform communities. The Impact Award, which recognizes firms and individuals for their impact on the industrial and office development community, was presented to Mack-Cali Realty Corporation CEO Michael J. DeMarco and Jeffrey J. Milanaik, partner, Northeast Region with Bridge Development Partners.
Stan Danzig, vice chairman of Cushman & Wakefield, received the Industry Service Award for his substantial contributions in support of the commercial and industrial real estate industry’s goals.
Deal of the Year Awards
A seven-member panel of judges selected the Deal of the Year winners in three categories based on impact on the community and marketplace; degree of complexity and/or uniqueness; innovative strategies; and creative problem solving.
Industrial: BridgePort 1 Logistics Center, Perth Amboy
A 103-acre Brownfield site that required extensive environmental and geotechnical remediation, BridgePort 1 Logistics Center has been redeveloped into New Jersey’s premier industrial distribution campus. Containing 1.3 million square feet of modern distribution buildings and home to Target Corporation, BridgePort 1 Logistics Center offers modern Class A amenities to meet the demands of today’s most sophisticated end-users. Involved in the deal were Bridge Development Partners, CBRE, Banner Oak Capital Partners, Teachers Retirement System of Texas, Wells Fargo, Heitman Capital Management, Premier Design Build Group, Menlo Engineering Associates, SESI Consulting Engineers, Excel Environmental Resources, Melick-Tully & Associates, Lane Miller Esq., Wanda Monahan Esq., and the City of Perth Amboy.
Office: The Crossings Sale to Barclays Capital, Whippany
The Crossings at Jefferson Park’s sale from Vision Real Estate Partners and The Rubenstein Partners to Barclay’s Capital marked the completion of a 525,000-square-foot benchmark suburban office campus transformation, yielding an experiential environment combining work, play, well-being and sustainability. The new owner/occupier will maintain more than 3,000 jobs in New Jersey. Involved in the deal were Vision Real Estate Partners, Rubenstein Partners, Barclays Capital, Cushman & Wakefield, JLL, Fox Rothschild, and Gensler.
Mixed Use: New Brunswick Cultural Center Redevelopment, New Brunswick
The $171.8 million, 450,000-square-foot, 23-story New Brunswick Cultural Center Redevelopment initiative represents a complex public-private partnership of 19 major partners. With world-class performance venues, 207 apartments, office space and a parking garage, it will transform the city’s cultural district. Involved in the deal were New Brunswick Development Corporation (DEVCO), Pennrose Properties, City of New Brunswick, County of Middlesex, Rutgers University, New Brunswick Cultural Center, NJEDA, New Brunswick Parking Authority, AJD Construction, Elkus Architects, Investors Bank, AEGON, CITI, and TD Bank.
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