NAIOP announces Mixed-Use Deal of the Year Finalists
NEW BRUNSWICK, NJ — The New Jersey Chapter of NAIOP, the commercial real estate development association, has announced the finalists for its highly coveted Deal of the Year Awards. Three winners, one each for Industrial Deal of the Year, Office Deal of the Year and Mixed-Use Deal of the Year, will be revealed at the 31st Annual Commercial Real Estate Awards Gala, which will be held on Thursday, May 10 at The Palace at Somerset Park in Somerset, N.J.
The Mixed-Use Deal of the Year finalists are: Cushman & Wakefield Site Assemblage at Valley Health System, Paramus: The Cushman & Wakefield team assembled a 20+ acre site for Valley Health System’s new $735 million hospital in Paramus. It involved the purchase of two sites comprising 500,000 s/f of office space and a one-acre car wash. As part of the transaction, an additional 200,000 s/f office building was constructed. Involved in the deal: Cushman & Wakefield, Valley Health System, Cole Schotz P.C. and Welsh Chester Galiney Matone Inc.
New Brunswick Cultural Center Redevelopment, New Brunswick: The $171.8 million, 450,000 s/f, 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: New Brunswick Development Corporation (DEVCO), Pennrose Properties, City of New Brunswick, County of Middlesex, Rutgers University, New Brunswick Cultural Center, NJ EDA, New Brunswick Parking Authority (NBPA), AJD Construction, Elkus Architects, Investors Bank, AEGON, CITI and TD Bank.The recipients of the 2018 Commercial Real Estate Awards will also be honored at the Gala. Jon F. Hanson of The Hampshire Companies will receive the Lifetime Achievement Award. The Impact Award will be presented to Mack-Cali Realty Corporation’s Michael J. DeMarco and Jeffrey J. Milanaik of Bridge Development Partners. Stan Danzig of Cushman & Wakefield will be recognized with the Industry Service Award and Woodbridge Mayor John E. McCormac will receive the Caren S. Franzini Public Partner Award.
The members-only Gala ticket pre-sale is open now through March 17. Ticket sales will be open to the public on March 18. For complete details and updates, visit http://naiopnj.org/Gala31.