NAIOP event recognizes commercial real estate leaders, firms and deals
More than 800 attendees turned out to celebrate the Garden State’s commercial real estate industry at NAIOP New Jersey’s 32nd Annual Awards Gala on May 16. The sold-out black-tie event, held at the Palace at Somerset Park, recognized the achievements of professionals and organizations and the state’s most impactful transactions of 2018.
At the event, NAIOP New Jersey President Eugene Preston of Dermody Properties said, “Tonight we celebrate a truly outstanding and accomplished group of honorees and Deal of the Year finalists. Each has made unique contributions to New Jersey’s economic growth, the commercial real estate industry and communities large and small across the Garden State.”
The commercial real estate development association awarded its highest honor, the Lifetime Achievement Award, to Andrew Merin, an executive vice chairman of Cushman & Wakefield. Merin was recognized for his distinguished record of service to the industry and to the community, as well as for his personal accomplishments.
City of New Brunswick Mayor James Cahill received the Caren S. Franzini Public Partner Award, which honors local champions of development that inspire and transform communities. Meanwhile, the Impact Award, which recognizes firms for their impact on the industrial and office development community, was presented to Greek Development and Whitesell Construction Co. Inc.
Gretchen Wilcox, president and founder of G.S. Wilcox & Co., received the Industry Service Award for her contributions in support of the commercial and industrial real estate industry’s goals.
Deal of the Year winners were selected in three categories based on impact on the community and marketplace; degree of complexity and/or uniqueness; innovative strategies; and creative problem solving. The 2019 awards were presented to:
Industrial: Linden Logistics Center, Linden
With over 100 years of chemical manufacturing, 30 total years of environmental cleanup and 15 years of vacant, idle land at Tremley Point in Linden, in 2018 it was time for the team of Greek Development, Advance Realty and CBRE to acquire the site and start the 4.1-million-square-foot warehouse redevelopment and transformation. Involved in the deal were CBRE, Advance Realty and Greek Development.
Office: Integra LifeSciences Headquarters Relocation, Princeton
Cushman & Wakefield facilitated the headquarters consolidation for Integra LifeSciences, a world leader in medical technology and one of Fortune’s 100 Fastest Growing Companies, into a 167,000-square-foot Trophy Class A building in Princeton. The ultimate transaction involved a lease buyout, purchase of an existing installation, execution of a new lease and awarding of state incentives. Involved in the deal were Cushman & Wakefield, Integra LifeSciences, HLW International, Black Creek Group LLC, Fox Rothschild LLP, Sills Cummis & Gross PC and Newmark Knight Frank.
Mixed Use: Ironside Newark, Newark
Edison Properties substantially completed the adaptive reuse of Ironside Newark, the 21st Century Workplace in the heart of Newark’s revitalized downtown. The 456,000-square-foot, mixed-use commercial destination has already attracted multiple tenants, including a long-term, 148,500-square-foot lease with Mars Wrigley Confectionery in a transaction arranged by CBRE. Involved in the deal were Edison Properties, Beckerman, Newark Community Development Corp., Perkins Eastman, Langan Engineering and Environmental Services, CBRE, Genova Burns and Riker Danzig Scherer Hyland & Perretti.