The Largest Land Sale of 2017
Cushman & Wakefield NJ Rockefeller Group Logistics Center Piscataway, NJ
Size: 228 acres Brokers: Andrew Merin, David Bernhaut, Gary Gabriel, and Brian Whitmer The Cushman & Wakefield team presented Rockefeller Group with an opportunity to acquire one of the last remaining parcels along I-287 – the next frontier for regional industrial development – for $57 million. Beyond brokering the transaction, the team advised on Rockefeller Group’s plans for the site: a $225-million, 2.2 million SF logistics hub, dubbed the Rockefeller Group Logistics Center. The firm was also retained by Rockefeller Group to exclusively handle the marketing of the six planned buildings for lease or sale. Upon its completion, the project will offers prospective users a level of flexibility that is currently unparalleled in New Jersey.
NAI Emory Hill 11th & Jefferson Streets Wilmington, DE
Brokers: Jon Hickey, and Jim O’Hara Jr. NAI Emory Hill agents Jon Hickey and Jim O’Hara Jr. represented the seller, a group of local investors, in the $10 million sale of a downtown Wilmington site at the corner of 11th and Jefferson Streets to Delle Donne Associates of Newark, DE. One of the largest development parcels in Wilmington’s CBD, the site can accommodate a building of over one million SF.
Michael Baxter & Associates New Ventures Comm’l. Park Blakeslee, PA
229 acres in New Ventures Commercial Park with approvals for two warehouse distribution buildings totaling over 2,000,000SF. Sold to Exeter Blakeslee Lot 100 Land LLC who is building a 1,000,000 SF distribution center to be tenanted by American Tire Distributors. “This sale has been a decade in the making. After working with all local, state and federal agencies, the sellers were finally able to provide a shovel-ready site which allowed us to attract the right buyer and tenant. The project is particularly gratifying for me, not only as the broker, but also as the Vice Chairman of the Board of Directors for The Pocono Mountains Economic Development Corporation. Hundreds of jobs will be created and make a significant contribution to the economy of Monroe County and Northeast Pennsylvania.”