Hoboken, NJ — Newmark Knight Frank (NKF) announced the joint venture sale of a 39-property, mixed-use portfolio in Hoboken, NJ (Portfolio) on behalf of a private owner. Executive managing director Kevin Welsh and managing director Brian Schulz of NKF’s Capital Markets group represented the seller in the transaction, along with support from NKF Retail managing director Dean Tselepis. The team was also responsible for procuring the joint venture partner, Federal Realty Investme
PHILADELPHIA, PA — Newmark Knight Frank (NKF) released its fourth-quarter 2019 office reports for the Philadelphia CBD and suburbs, Southern New Jersey, and Northern Delaware. Across the region, the office market concluded 2019 with robust positive absorption, continued rent growth, new construction, and the promise of more demand-driven development to kick off the new year.
In Philadelphia’s Central Business District (CBD), market activity was largely driven by the “eds & m
WAYNE, PA — Newmark Knight Frank (NKF) released its fourth-quarter 2019 industrial market reports for Greater Philadelphia and the I-81/78 Corridor. Both markets hit notable milestones in the final quarter of the decade. The I-81/78 Corridor realized 6.2 million s/f of positive net absorption, the single largest quarterly total in this economic cycle. In the Greater Philadelphia industrial market, 5.6 million s/f of new industrial product delivered, the largest quarterly addi
130 Monument Road development site sells for $8.94
BALA CYNWYD, PA — Newmark Knight Frank’s (NKF) greater Philadelphia Capital Markets team comprising Mike Margolis, Dave Dolan and Dave Garonzik, along with local market expert, Jeff Mack, have completed the sale of 130 Monument Rd. in Bala Cynwyd. The team represented Roseland Residential Trust, a Mack-Cali Co., in the $8.94 million sale to Woodfield Development of Chevy Chase, MD.
The 5.23-acre development was site plan approved and is pending only a building permit before
NEPTUNE, NJ — Global commercial real estate advisory firm Newmark Knight Frank (NKF) is pleased to announce the sale of 3600 Rte. 66 in Neptune, NJ for $26 million on behalf of the building’s current owner, Mack-Cali. Representing Mack-Cali are NKF’s executive managing director Steven Schultz and managing directors Tony Georgiev and Adam Silver.
3600 Rte. 66 is a four-story, class A office property totaling 188,408 s/f. Its convenient location just off the Garden State Pkwy.
TYSONS, VA — Newmark Knight Frank (NKF) announces the sale of Dominion Square’s 12-acre eastern parcel for $60.2 million, which has full Conceptual Development Plan (CDP) approvals for 2M s/f of office, residential, hotel and retail development. Dominion Square represents one of the last premier development sites at a Silver Line Metro station in Tysons.
NKF transacted the sale on behalf of Capital Automotive Real Estate Services Inc., a McLean based financial holding compa
EAST HANOVER, NJ — Global commercial real estate advisory firm Newmark Knight Frank (NKF) and Katz & Associates are pleased to announce a 37,364 s/f lease at 98 Rte. 10 West in East Hanover. A new PGA TOUR Superstore will be opened at the space, which is owned by Williams Parkway LLC. An NKF team of managing director Dean Tselepis and director Jerry Putterman represented ownership while Hugh Scullin of Katz & Associates represented PGA TOUR Superstore.
98 Rte. 10 West is loc
KING OF PRUSSIA, PA — Newmark Knight Frank’s (NKF) greater Philadelphia Capital Markets team comprising Mike Margolis, Dave Dolan and Dave Garonzik, along with local market expert, Jim Dugan, have successfully completed the sale of 200 N Warner Rd. in King of Prussia. The team represented the joint venture of Taconic Capital and Cohen Equities, both of New York, NY, in the $37.85 million sale to Pembroke Capital of Bryn Mawr, PA.
When Taconic Capital and Cohen Equities acqui
PARSIPPANY, NJ — Newmark Knight Frank (NKF) has arranged a new long-term lease for Vitaquest International LLC (Vitaquest), a nutritional and functional foods manufacturer, at 100 Jefferson Rd. in Parsippany. NKF managing director James Ritman of the Stamford office and associate director Trevor Patterson of the Rutherford office represented Vitaquest in this transaction.
Vitaquest will occupy the Pomeroy Suite within 100 Jefferson Rd. and have more than 200,000 s/f of indus
PARSIPPANY, NJ — Newmark Knight Frank (NKF) announced the sale of The 9 at Parsippany, located at 9 Entin Rd. in Parsippany (“9 Entin”). Kevin Welsh, Brian Schulz, and Chuck Kohaut of NKF’s Tri-State Capital Markets Team represented an institutional investor and Lincoln Property Company on the transaction. The team was also responsible for procuring the buyer, American Equity Partners, a private real estate company based in Edison.
The 9 at Parsippany is a 196,894 s/f class
CLARK, NJ — Newmark Knight Frank (NKF) has negotiated the sale of Denholtz Associates’ 108,000 s/f flex/R&D building at 175-195 Terminal Ave. in Clark for $15.84 million to ANG Management. NKF executive managing director Steven Schultz and managing director Tony Georgiev handled the transaction.
Since 1992, 175-195 Terminal Ave. has been leased as the headquarters of L’Oréal’s North American R&D division, one of six L’Oréal R&D centers in the world and the only one in the Un
AUDUBON, PA — Newmark Knight Frank (NKF) announced the completion of the sale of 1001 Adams Ave. in Audubon. NKF’s Capital Markets team comprising Mike Margolis, Dave Dolan and Dave Garonzik, along with local market expert Jeff Mack, represented the seller Delaware Valley Real Estate Investment Fund, L.P. in the $20.0 million trade of the property. The property was sold to Blue Stone Capital.
The 136,918 s/f property is currently 100% occupied.
“This property offered inves
NORRISTOWN, PA — Newmark Knight Frank (NKF) has announced that managing director Justin Bell and senior managing director Neil Shupak represented T-Squared Realty, LLC, the landlord of 1547 N. Trooper Rd. in Norristown, with a 120,000 s/f, long-term lease renewal for a longstanding tenant, Techni-Tool.
T-Squared Realty, LLC, initially hired Bell and Shupak to provide a Broker Opinion of Value and to assist with the sale or lease of the building. Techni-Tool occupied the ent
Rutherford, NJ — Newmark Knight Frank (NKF) announced that the NKF Tri-State Capital Markets Team has procured seven office and industrial assignments in their first 90 days with the firm. “We are delighted with the team’s momentum in its early days at NKF and have high expectations that the tri-state team is becoming a market leader,” said vice chairman & COO of NKF New Jersey, David Simson. The estimated market value for these assignments is approximately $175 million and t
RIDGEFIELD, NJ — The Pfister Site on Rte. 46, at 18.73 acres one of Bergen County’s largest remaining development parcels, is finalizing its environmental remediation program and is being offered for sale, announced Dr. James Bendelius, president of Pfister Chemical.
Bordering the eastern shore of Overpeck Creek, the property was home to the Pfister Chemical factory from the 1930s through the 1990s.
“As the owner of the site for more than 85 years, it is extremely gratif
Pittsburgh, PA — Newmark Knight Frank (NKF) represented Clinton Commerce Center LLC in the marketing and sale of the recently completed Clinton Commerce Center I, situated one mile west of the Pittsburgh International Airport at 2300 Sweeney Dr. within Clinton Commerce Park. The building is a 297,200 s/f, class A, light industrial facility leased entirely to Berlin Packaging on a long-term lease. Cincinnati-based Al. Neyer is the general partner of Clinton Commerce Center LLC
Wilmington, DE — Newmark Knight Frank (NKF) announced the sale of the 10.3-acre; 448,668 s/f parcel at the southeast corner of the Coastal Highway (Rte. 1) and Holland Glade Rd., in Rehoboth Beach, Sussex County. The $13.5 million sale represents the last large commercial land tract along the Rte. 1 corridor between Lewes and Rehoboth Beaches. Mike Margolis, Dave Dolan and Neal Dangello of NKF represented the seller, the Corrado Family, LLC in the sales transaction. Coastal