Finance Net Leasing
High Street Takes N.J. Industrial Portfolio
April 18, 2008
By: Tom Dworetzky, News Editor

An 11-building, 750,000-square-foot New Jersey portfolio has sold to High Street Equity Advisors for an undisclosed price, according to a report from Cushman & Wakefield Inc.’s metropolitan area capital markets group in East Rutherford, N.J. The group orchestrated the deal.

The properties include seven buildings totaling 367,000 square feet in Allendale Park, Allendale; two buildings totaling 177,000 square feet on Apgar Road in Franklin Township; and 300 Columbus Circle (pictured) and 400 Raritan Center Parkway, totaling 205,000 square feet, in Raritan Center, Edison.

The seller was assisted in its original buys by the Cushman team. It acquired the industrial buildings at different times during the past decade.

The Cushman team consisted of Gary Gabriel, Andrew Merin, David Bernhaut and Jose Cruz. According to Gabriel, the successful close of the portfolio sale demonstrates the continued market for quality properties despite current, challenging capital markets conditions.

In other New Jersey Industrial property news, AMB Property Corp. purchased nearly 50 acres of land in Jersey City, N.J., from the Roman Catholic Archdiocese of Newark. As reported last month by CPN The developer plans to erect the 878,000-square-foot AMB Pulaski Distribution Center on the former landfill site.

 
Recent Net Leasing Headlines
Capitol_Lounge Capitol Lounge Building Sold in DC
July 22, 2008
The Capitol Lounge building located at 229 Pennsylvania Avenue in Washington, D.C., has been sold by the NorthMarq investment sales team of Jim Karnack, Jerry Burg and Matt Clinebell, the company said today.
Net Lease Sees Sluggish Second Quarter
July 22, 2008
The net lease market has entered a period of lower sales and lower expectations, according to the latest report by Northbrook, Ill.-based Boulder Net Lease Funds L.L.C.
ProLogis Leases 252,000 SF to Schenker in France
July 21, 2008
ProLogis has leased 252,000 square feet of distribution space in France to Schenker S.A., a French subsidiary of the Schenker Group.
Grubb & Ellis Sells Texas Office Property
July 17, 2008
Grubb & Ellis Realty Investors L.L.C. announced the disposition of 1410 East Renner Road, a two-story office building in the Dallas suburb of Richardson, on behalf of tenant-in-common investors.
ProLogis Expands Roles Within Global Investment Management Group
July 17, 2008
ProLogis has made two appointments for leadership of its Global Investment Management group.
 

 

REal Talk with Adam Perrotta
July 23, 2008
By Adam Perrotta, News Writer --It appears as though the tide of opinion calling for government aid for the foreclosure crisis has impelled President Bush to drop his opposition to a $3.9 billion housing rescue bill. Whether Bush's reversal was...

Sterling JV Pays $38M for Tampa Apartments Despite Soft Market
July 23, 2008
By Scott Baltic, Contributing Editor -- Sterling American Property Inc., in a JV with The Collier Cos., has purchased the St. Croix Apartments, a 540-unit, gated, resort-style apartment community in Tampa, for just north of $38 million. The seller was...

Trio of Projects to Bring 1.7M SF to Suburban DC
July 23, 2008
By Barbra Murray, Contributing Editor -- The souring economy hasn't altogether dampened development activity. In the Washington, D.C., suburb of Arlington, Va., news has emerged about three new office and mixed-use projects that will bring a total of 1.7 million...

Westcore Sells Vienna Office for $39M
July 23, 2008
By Thomas Peretti, Contributing Correspondent -- Westcore Properties has announced the sale of a Class A Austrian office building. The 125,000-square-foot property sold for $39.2 million (24.5 million Euros) to Credit Suisse Asset Management Immobilien Kapitalanlagegesellschaft mbH. The six-story building...

Bush Drops Resistance to Housing Bill; House Expected to Vote Today
July 23, 2008
By Erika Schnitzer, Associate Editor, Multi-Housing News -- Despite his objections over a $3.9 billion provision that would assist communities devastated by foreclosures, President George W. Bush today dropped his opposition to housing rescue legislation. He was previously threatening to...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...

How to K.I.S.S Problems Goodbye
June 27, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Keep It Simple Stupid. One of the most effective ways to order your world is to simplify everything you encounter. The problem is that keeping it simple often becomes very difficult when our...

Does Appearance Matter?
June 20, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --So, do appearances really matter? They shouldn't, but the reality is that they most certainly do. As the old saying goes, "you only get one chance to make a first impression," and often...

Recognizing the Need for Change
June 13, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Since the title of today's column is "Recognizing the Need for Change," I'm going to switch things up a bit and ask you to answer a question posed by me. I first warned...