Ivy Realty

Tuesday, April 15, 2008
NJ-NAIOP Announces "Deal of the Year" Finalists
By Betsy Kraat

NEW BRUNSWICK--The finalists for the highly coveted “Economic Impact Deal of the Year Award” have been announced by the New Jersey Chapter of National Association of Industrial and Office Properties (NJ-NAIOP).

The winner will be revealed at the Twenty-first Annual Commercial Real Estate Awards Gala on Thursday, May 15, 2008 at the New Jersey Performing Arts Center (NJPAC) in Newark.

In alphabetical order, the finalists are:

--CB Richard Ellis and Cushman & Wakefield, Inc. on behalf of Ivy Equities and Paragon Realty Group for 225 Summit Ave., Montvale, NJ-Barr Laboratories, Inc. The deal transformed an obsolete facility into a state-of-the-art mixed-use development, added 250 jobs, protected wetlands and attracted pharmaceutical expansion.

--Cushman & Wakefield, Inc. and Ivy Equities for the sale/leaseback of the Merrill Lynch Campus, 800 Scudders Mill Road, Plainsboro, N.J. The retenanting of the former corporate campus, including potential capital improvements incorporating green building attributes and future redevelopment will create construction jobs and Class A space, while retaining Black Rock as a tenant for New Jersey.

--Cushman & Wakefield, Inc., The Hampshire Companies, GVA Williams and The Medicines Company for The Medicines Company, 8 Sylvan Avenue, Parsippany, N.J. The deal involved the redevelopment of first-generation corporate space and lease to expand the company’s headquarters from 50,000 square feet and 200 employees to a 170,000-sfoperation that can handle more than 1,000 people and fill a large new block of surplus corporate space.

--Wyndham Worldwide Corporation and Mack-Cali Realty Corporation for Wyndham Worldwide Corp. Headquarters, Parsippany, N.J. Wyndham was able to consolidate its workforce and operations costs, create a positive and environmentally friendly work environment with minimal disruption and plan for future expansion needs in its current home, resulting from the lease of an entire 250,000-square-foot class A office building.

--The Deal of the Year nominees were judged by: Anthony R. Coscia, a Partner with Windels Marx Lane & Mittendorf LLP and Chairman of the Port Authority of New York & New Jersey; Dr. James Hughes, Dean of the Edward J. Bloustein School of Planning & Public Policy at Rutgers University; Philip Kirschner, President of the New Jersey Business & Industry Association; Dr. Joel Naroff of Naroff Economic Advisors; and Herman Simonse of Bellemead Development Corp.

--NJ-NAIOP’s Gala, which has been deemed one of the top networking events of the year, attracts a sell-out crowd of close to 1,000 real estate professionals. “Deals and careers have been made at the Gala,” said Michael McGuinness, chief executive officer of the association. “Savvy real estate professionals wouldn’t dream of missing it.”

--Isaac (Ike) Heller, Chairman of the Board of Heller Industrial Parks, Inc., will receive the Lifetime Achievement Award. The Impact Awards will be presented to Normandy Real Estate Partners and Whitesell Construction Company, Inc. Frank M. McDonough, President of the New York Shipping Association, will receive the Industry Service Award.

The event will begin at 6:00 p.m. with a Welcome Reception, followed by the Awards Ceremony and then the Grand Reception. Gretchen Wilcox of G.S. Wilcox & Co. and James Petrucci of J. G. Petrucci Co., Inc. are co-chairs of the Gala.

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Tuesday, April 15, 2008
NJ-NAIOP Announces "Deal of the Year" Finalists
By Betsy Kraat

NEW BRUNSWICK--The finalists for the highly coveted “Economic Impact Deal of the Year Award” have been announced by the New Jersey Chapter of National Association of Industrial and Office Properties (NJ-NAIOP).

The winner will be revealed at the Twenty-first Annual Commercial Real Estate Awards Gala on Thursday, May 15, 2008 at the New Jersey Performing Arts Center (NJPAC) in Newark.

In alphabetical order, the finalists are:

--CB Richard Ellis and Cushman & Wakefield, Inc. on behalf of Ivy Equities and Paragon Realty Group for 225 Summit Ave., Montvale, NJ-Barr Laboratories, Inc. The deal transformed an obsolete facility into a state-of-the-art mixed-use development, added 250 jobs, protected wetlands and attracted pharmaceutical expansion.

--Cushman & Wakefield, Inc. and Ivy Equities for the sale/leaseback of the Merrill Lynch Campus, 800 Scudders Mill Road, Plainsboro, N.J. The retenanting of the former corporate campus, including potential capital improvements incorporating green building attributes and future redevelopment will create construction jobs and Class A space, while retaining Black Rock as a tenant for New Jersey.

--Cushman & Wakefield, Inc., The Hampshire Companies, GVA Williams and The Medicines Company for The Medicines Company, 8 Sylvan Avenue, Parsippany, N.J. The deal involved the redevelopment of first-generation corporate space and lease to expand the company’s headquarters from 50,000 square feet and 200 employees to a 170,000-sfoperation that can handle more than 1,000 people and fill a large new block of surplus corporate space.

--Wyndham Worldwide Corporation and Mack-Cali Realty Corporation for Wyndham Worldwide Corp. Headquarters, Parsippany, N.J. Wyndham was able to consolidate its workforce and operations costs, create a positive and environmentally friendly work environment with minimal disruption and plan for future expansion needs in its current home, resulting from the lease of an entire 250,000-square-foot class A office building.

--The Deal of the Year nominees were judged by: Anthony R. Coscia, a Partner with Windels Marx Lane & Mittendorf LLP and Chairman of the Port Authority of New York & New Jersey; Dr. James Hughes, Dean of the Edward J. Bloustein School of Planning & Public Policy at Rutgers University; Philip Kirschner, President of the New Jersey Business & Industry Association; Dr. Joel Naroff of Naroff Economic Advisors; and Herman Simonse of Bellemead Development Corp.

--NJ-NAIOP’s Gala, which has been deemed one of the top networking events of the year, attracts a sell-out crowd of close to 1,000 real estate professionals. “Deals and careers have been made at the Gala,” said Michael McGuinness, chief executive officer of the association. “Savvy real estate professionals wouldn’t dream of missing it.”

--Isaac (Ike) Heller, Chairman of the Board of Heller Industrial Parks, Inc., will receive the Lifetime Achievement Award. The Impact Awards will be presented to Normandy Real Estate Partners and Whitesell Construction Company, Inc. Frank M. McDonough, President of the New York Shipping Association, will receive the Industry Service Award.

The event will begin at 6:00 p.m. with a Welcome Reception, followed by the Awards Ceremony and then the Grand Reception. Gretchen Wilcox of G.S. Wilcox & Co. and James Petrucci of J. G. Petrucci Co., Inc. are co-chairs of the Gala.