The Most Comprehensive Source for Commercial Real Estate News in the Region 

Burlington, NJ — CBRE announced that it has arranged the sale of a 59.29-acre industrial site located at 107 Elbow Ln. in Burlington, New Jersey. Johnson Development Associates, Inc. acquired the property for an undisclosed sale price. The CBRE team of Dan McGovern, Paul Touhey and Drew Green arranged an off-market transaction between Johnson Development and the seller, Seacalco, LLC. Johnson Development Associates has plans to develop a 266,966 s/f warehouse facility at the

BORDENTOWN, NJ — In a transaction arranged by CBRE, Modell’s Sporting Goods has committed to a 312,373 s/f industrial lease at 201 Old York Rd. in Bordentown. The sporting goods retailer, with locations throughout the Northeastern United States, will house its logistics and distribution operations at the newly built, state-of-the-art facility owned by Matrix Development. The CBRE team of Bill Waxman, Mindy Lissner and Steven Beyda worked in tandem with Brett Weinblatt of Com

SADDLE BROOK, NJ — Investors increasingly are warming up to the U.S. cold storage warehousing sector, pushing cap rates for class A facilities closer to those of traditional high-quality warehouses. In New Jersey, online grocery sales continue to spur the need for construction and investment in cold storage facilities. However, cold storage presents its own unique challenges, according to a new report from CBRE. CBRE’s report, the third and final installment in its Food on

PHILADELPHIA, PA — CBRE has completed the sale and financing of a nine-building medical office portfolio totaling 470,000 s/f located in four states. Chris Bodnar, Lee Asher, Ryan Lindsley and Jordan Selbiger of CBRE’s Healthcare Capital Markets team served as advisors for the transaction and sourced the buyer for the portfolio sale. Additionally, Sabrina Solomiany of CBRE’s Debt & Structured Finance group worked on behalf of the buyer to secure the financing. The buyer, a c

PHILADELPHIA, PA — CBRE announced that Matthew Gorman, Michael Shover, Thomas Finnegan and Robert Thompson—the Philadelphia-based arm of CBRE’s Net-Lease Properties team— closed 62 properties in 2019, totaling more than $329 million, which is a 31% increase in dollar volume over 2018. The team is well-positioned to have another milestone year in 2020, with over 60 properties currently on the market and nine under contract, equaling nearly $240 million. Completed 2019 transac

ELIZABETH, NJ — CBRE announced that the IKEA-anchored Elizabeth Center is welcoming two new big box retail neighbors; a new +/-150,000 s/f Raymour & Flanigan retail showroom and customer service center, and a soon to open +/-98,000 s/f Floor & Décor. CBRE’s Steven Winters, on behalf of IKEA, sold 1001 IKEA Dr. in Elizabeth for $11 million to Raymour & Flanigan, which opened last month. Winters, also on behalf of IKEA, facilitated the signing of a long-term 98,000 s/f leas

LOWER GWYNEDD — CBRE has arranged a long-term lease to relocate Anpac Bio’s U.S. based operations from San Jose, California to Spring House Innovation Park in Lower Gwynedd, Montgomery County. Anpac Bio, an innovative biotech company that applies its proprietary technology to detect early signs of cancer, will occupy 6,724 s/f at Spring House Innovation Park. CBRE senior vice president Tony Rossi, who leads the Life Sciences Group in the greater Philadelphia region, repre

MIDDLETOWN, PA — In a transaction arranged by CBRE, Boxzooka Fulfillment & Global Ecommerce, a global fulfillment company, has inked a 133,464 s/f industrial lease at 300 Capital Ln. in Middletown. The newly constructed class A industrial property, which was a new construction warehouse, is part of a 1.5-million s/f logistics center owned and operated by Colony Industrial. The property is ideally located in close proximity to both the entire Northeastern United States and Can

SADDLE BROOK, NJ — CBRE announced the $146 million sale of the Northern/Central New Jersey Workforce Housing Apartment Portfolio – a generational collection of seven multifamily high-rise and garden properties with 1,035 total units located in East Orange, Newark, Asbury Park and Trenton, New Jersey. The CBRE team of Jeffrey Dunne, Gene Pride and Eric Apfel, along with Nat Gambuzza, John Veniero and John McFadden represented the owner, Murnick Property Group, in the sale and

PHILADELPHIA, PA — CBRE announced that Matthew Gorman, Michael Shover, Thomas Finnegan and Robert Thompson of the Philadelphia-based arm of CBRE’s Net-Lease Properties team sold 27 properties during the first half of 2019, totaling $104,430,491. The completed transactions, most of which are classified as “net lease”, were a mix of restaurants, convenience stores/gas stations, discount stores, veterinary clinics, fitness centers and drug stores, spanning across twelve states,

MECHANICSBURG, PA — CBRE has arranged for the sale of two office buildings, totaling 76,972 s/f, in Mechanicsburg. Linlo Properties acquired both properties and Members 1st Federal Credit Union has leased back a portion of both buildings as they begin the due diligence phases for a new corporate headquarters. “Here at Linlo we could not ask for a better acquisition pairing to start 2019,” said Sarah Gates, Linlo portfolio manager. “We continue to see the strength of the Ros

PHILADELPHIA, PA — CBRE announced that it has arranged a 48,069 s/f lease for Spaces, a coworking brand of IWG that originated in Amsterdam, at 1626 Locust St. in Center City, Philadelphia. CBRE first vice president Stephen Kriz represented Spaces during the lease negotiations, while Doug Himmelreich and Mike Dolan of Stockton Real Estate Advisors represented the building’s owner, Cross Properties. Spaces’ first Philadelphia location is located at the Hale Building, where

HARRISBURG, PA — CBRE announced the sale of two office buildings, totaling 250,000 s/f, located at 100 and 200 Amp Dr. in Harrisburg. D&H Distributing Co. acquired the two properties for $8.2 million. D&H Distributing Co. is relocating its headquarters from 2525 North Seventh St. in Harrisburg, while TE Connectivity, who occupied the entire campus before the acquisition, will continue to partially occupy the premises. “D&H endeavored to establish a location in Central Pen

EDISON, NJ — CBRE announced the $83 million sale of Middlesex Logistics Center in Edison. A joint venture of ASB Real Estate Investments and Cohen Asset Management acquired the fully leased, class A property located at 549 Mill Rd., from JP Morgan Asset Management. CBRE National Partners Brian Fiumara, Mike Hines and Brad Ruppel, along with Tom Monahan, negotiated the sale on behalf of JP Morgan Asset Management. “This sale is yet another indication of how active the indust

PHILADELPHIA, PA — CBRE has arranged a lease for Clarifi at 1635 Market St. in Center City, Philadelphia. Clarifi relocated from 1608 Walnut St. and officially moved into their new 7,165 s/f, fifth floor office space on October 29. Clarifi is a financial literacy nonprofit in the greater Philadelphia area providing counseling, education and coaching to help individuals and families achieve financial stability. For 52 years Clarifi has helped over 750,000 people improve their

MAYWOOD, NJ — Located in the heart of Bergen County along Route 17 North, the former Sears warehouse has been demolished and is being transformed into Maywood Commons, a 27 acre, modern mixed-use project in Maywood. The project is being developed by Kin Properties, with CBRE as the broker. An 80,000 s/f net leased office building, hotel and undisclosed retail anchor are currently slated to open in 2021. Ground breaking is expected to be in late 2019, with tenant construction

MANVILLE, NJ — CBRE announced the sale of two mixed-use multifamily properties located at 62 South Main St. and 206 South Main St. in Manville. Each building has two commercial units and four residential units, totaling a combined 8,000 s/f. The assets boast prime frontage on Manville’s main retail thoroughfare and are currently 100% occupied. CBRE’s Charles Berger, first vice president; Elli Klapper, first vice president; and Mark Silverman, associate, represented the Esta

SOUTH BRUNWICK, NJ — CBRE has secured a $19.5 million loan for a soon-to-be-completed, 305,598 s/f warehouse/industrial facility located at 2270 Route 130 in South Brunswick. Through an extensive and competitive marketing campaign, CBRE arranged the loan on behalf of 2270 Route 130 LLC. James Gunning, Donna Falzarano and Kyle Saviano of CBRE’s Debt & Structured Finance team negotiated the financing. Recognizing the borrower’s preference for long-term ownership, CBRE complet

Tell us how and when you began your career in the profession you are in: I began my career out of grad school as a temporary admin in Cushman and Wakefield’s Valuation and Advisory department. I worked my way up for ten years while building a solid foundation in commercial real estate before switching gears to investment sales at CBRE almost four years ago. What is your current position? I work as a Director in CBRE Philadelphia’s Investment Sales Group, focusing on the sa

WILMINGTON, DE — CBRE announced that it has arranged for the sale of Courthouse Square and Rockwood Office Park—two office properties located in Wilmington to Real Capital Solutions for an undisclosed sale price. CBRE Capital Markets’ Institutional team members Robert Fahey, Jerry Kranzel, Erin Hannan and Jack Corcoran represented the seller, Pine Street Real Estate Holdings Corp. & Rockwood Office Park Associates, L.P., in the marketing and sales negotiations. CBRE’s John