Mid Atlantic REAL ESTATE JOURNAL’S ANNUAL SPOTLIGHT MAREjournal com Mid Atlantic Real Estate Journal — May 23 June 12 2008 — Sect

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Mid Atlantic REAL ESTATE JOURNAL’S ANNUAL SPOTLIGHT MAREjournal com Mid Atlantic Real Estate Journal — May 23 June 12 2008 — Sect Powered By Docstoc
					          Mid
        Atlantic        REAL ESTATE JOURNAL’S
                        ANNUAL SPOTLIGHT
MAREjournal.com                 Mid Atlantic Real Estate Journal — May 23 - June 12, 2008 — Section E




                  INDUSTRIAL REAL ESTATE
                            &
                   DISTRIBUTION CENTERS
E Inside Cover — Mid   Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008                       MAREjournal.com




                                    PRESENTS

                 PRIME INDUSTRIAL SPACE

                 10,000 SF - 400,000 SF

                 SECAUCUS, NJ




                             Move Your Business                                    closer
      The opening of Exit 15X on the NJ Turnpike                                   Now Featuring:
      has, literally, made the industrial facilities in                            35 Henry Street, Secaucus, NJ
      the Harmon Cove Industrial Park 15 minutes                                   323,610 SF
      closer to the Port of New York/New Jersey,
      the largest port on the East Coast of North                                   International Airport
      America.
      Locate your business at the hub of the most
      concentrated and affluent consumer market                                      Parkway, Routes 3, 17, 46, 1 & 9 and arteries to
      in the world and gain immediate access to                                     I-80, I-95 and I-280

      the most extensive interstate highway and                                     various points in New Jersey
      rail networks in the region.




                                                                                                CONTACT HARTZ MOUNTAIN INDUSTRIES, INC.
                                                                                                              Ernie Christoph Tel: 201-272-5201
                                                                                                           Ernie.christoph@hartzmountain.com
                                                                                                               Charlie Reese Tel: 201-272-5202
                                                                                                             Charlie.reese@hartzmountain.com
                                                                                                         Hartz Mountain Industries, Inc. Leasing Dept.

                                                                                       Providing the Best Industrial Solutions www.hartzmountain.com
MAREjournal.com                                                  Mid Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008 — 1E




                                                                            R L60,00E0 SQ FT
                                                                          FO EA
                                                                                  S
                                                                          FROM        T
                                                                  SUITES 240,000 SQ F
                                                                       TO




  LOCATION
                                                                                                                                                                                N
  Site 102 of Humboldt East Industrial Park includes 240,000 square                                        Forest Road
  feet of multi-purpose industrial space in the newest section of
  Humboldt Industrial Park, Hazleton, PA. Humboldt is a mature three
  thousand acre industrial park near the crossroads of I-81 and I-80 in
  Northeast Pennsylvania.

  ACCESS
                                                                                                                 240,000 Square Foot
  Located just 1.5 miles from the interchange of I-81 and State Route                                                                                  300'
                                                                                                                  Industrial Building
  924, this location offers excellent transportation links to interstate
  highways.                                                                                                                    800'

  DESIGN
                                                                                                                          Concrete Apron
  The building design includes features expected in a Class-A
  warehouse/distribution building. Specifications include a thirty-two                                    140'

  foot clear height, ESFR sprinkler system, generous truck courts and
  car parking and additional room for storing 60 trailers.                                                60'             Trailer Storage


  INCENTIVES
  The site has the added benefit of being designated a Keystone
  Opportunity Zone (KOZ). Keystone Opportunity Zones are defined-
  parcel specific areas with greatly reduced or no tax burden for                                                              BUILDING SPECIFICATIONS
  property owners, residents and businesses.                                                                      Square Feet:                  240,000
                                                                                                                  Dimensions:                   300’ x 800’
                                                                                                                  Site Size:                    19.481 Acres
                            Scranton
                                                                                                                  Clear Height:                 32’ at eave
      PENNSYLVANIA                                                                                                Bay Size:                     50’ x 50’
                  Wilkes-Barre              380                                                                   Loading Doors:                24 – 9’ x 10’
                                                                                                                                                2 – 12' x 14' drive-in plus
                                                                                                                                                additional knockouts
                       81
                                                                       One West First Avenue, Suite 315
     Berwik
                                                                          Conshohocken, PA 19428                  Dock Equipment:               45,000 lb. hydraulic levelers, dock
                                       80
          80
                                                                                                                                                seals and bumpers
                                                  209                       Phone (610) 828-8484                  Sprinkler System:             ESFR
          Humboldt      Hazleton                                             Fax (610) 828-9699                   Truck Court Depth:            140’
          Industrial                                                     www.equilibriumequities.com
          Park                                                                                                    Additional Trailer Storage:   60 +/- spaces
                                                          NEW                                                     Electric Service:             1200 AMP 277/480 Volt,
                                                        JERSEY                                                                                  3 Phase, 4 wire
         81
                                       476
                                                                                                                  HVAC:                         Direct fired roof mounted gas
                            To Allentown                                                                                                        units
                                                                                                                  Utilities:                    Public
2E — Mid    Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008                                                                 MAREjournal.com


   INDUSTRIAL REAL ESTATE & DISTRIBUTION CENTERS
                                          By Ernest A. Christoph, Hartz Mountain Industries
 Meadowlands Harmon Cove Industrial Area:
Taking advantage of the tri-state area’s growth
S
      o far the market in 2008        becomes appealing to every             continues to see high activity           assets appeals to manufactur-      Cove.
      is performing well. The         company. Companies in the              because of the demand for con-           ers, both foreign and domestic,      Already in an ideal geo-
      biggest factors in the          entertainment industry are             temporary warehouse space in             who can utilize warehouse          graphic location, the Mead-
Meadow-                               being forced out of New York           close proximity to New York              facilities to receive goods from   owlands will remain in a po-
lands indus-                          due to lack of available space         and the ports. The recent ad-            the Port of Newark or Newark       sition to take full advantage
trial market                          and high rents. Residential            dition of NJ Turnpike 15X has            Liberty International Airport      of the tri-state area’s growth
in 2008 are                           conversions in New York are            dramatically improved access             and from there, ship them to       by continuing to enhance its
fuel costs                            taking a lot of space out of play,     to industrial/warehouse space            end-users in the tri-state area    transportation infrastructure
and location.                         forcing companies to move              in the Meadowlands Harmon                or other metropolitan areas in     and lifestyle amenities.
The price                             out of New York and into New           Cove Industrial Area. The                the northeast.                       Ernest A. Christoph is se-
of fuel has                           Jersey. These companies are            Meadowlands region is one                  The personality of the region    nior vice president of sales
prompted                              seeking high ceiling buidings          of the few areas that exists in          will always have an indus-         & leasing at hart Mountain
many com- Ernest Christoph            with a substancial amount              such close proximity to a major          trial component, as there is       Industries. ■
panies to try and stay close          of loading docks. Buildings            port and a major international           no substitute for proximity to
to primary markets that they          with truck parking and truck-          airport and offers a population          Manhattan and the benefits of
                                                                                                                                                         Hartz Mountain
wouldn’t have a year or two           ing terminals are also in de-          center as large and as dense             consolidating the warehousing      leases 95,000 s/f at
ago. As fuel costs rise, real         mand.                                  as the New York metropolitan             district, which is what was        Harmon Cove
estate closest to Manhattan             The Meadowlands region               area. This unique trifecta of            achieved long ago at Harmon          SECAUCUS, NJ — Hartz
                                                                                                                                                         Mountain Industries has an-
                                                                                                                                                         nounced that Scharff Weis-
                                                                                                                                                         berg, Inc. has
                                                                                                                                                         leased 95,000
                                                                                                                                                         s/f of indus-
       OFFICE/FLEX                                                                                                                                       trial space at
                                                                                                                                                         its 77 Metro
       AVAILABILITIES                                                                                                                                    Way.
                                                                                                                                                           After 29
                                                                                                                                                         years in
                                                                                                                                                         Manhattan
                                                                                                                                                         and Queens, Emanuel Stern
                                                                                                                                                         Scharff Weisberg has decided
                                                                                                                                                         to move into a large, growth-
                                                                                                                                                         friendly space in Secaucus.
                                                                                                                                                         The Lighting division will be
                                                                                                                                                         relocating to Secaucus at the
                                                                                                                                                         end of April and the rest of the
                                                                                                                                                         team, including audio, video
                                                                                                                                                         and administration will follow
    OFFICE/FLEX - Sale                           FLEX SPACE - Lease                                OFFICE/FLEX SPACE - Lease
                                                                                                                                                         in June.
    1200 Union Ave, Cherry Hill, NJ              820 East Gate, Mount Laurel, NJ                   Cherry Hill Business Park, Cherry Hill, NJ
                                                                                                                                                           “This facility will provide
      15,000± SF Available - Expandable            Suites from 1,261 to 6,322± RSF                   Units/Buildings from 2,160± SF to 18,539± SF        Scharff Weisberg with the
      1,585± SF of Of ce                           New renovations and building upgrades             Retail visibility - Showroom space                  space and capacity they need,
      One block off Route 70 West                  Close to NJ Tpke, I-295, Rtes 70, 73, & 38        Ample parking                                          continued on page 16E
    Contact: Marc Cutler or Maryann Franken      Contact: Rebecca Ting, SIOR or Scott Mertz        Contact: Rebecca Ting or Scott Mertz
    tel 856 234 9600                             tel 856 234 9600                                  tel 856 234 9600                                          Industrial R.E. &
    OFFICE - Lease                               OFFICE/FLEX SPACE - Lease                         FLEX SPACE - Keystone Industrial Park                     Distribution Ctrs.
    5000 Atrium Way, Mt Laurel, NJ               East Gate Business Ctr, Mt Laurel, NJ             1 Pearl Buck Ct., Bristol Township, PA
                                                                                                                                                                   a section of the
      25,000± SF - Class A Of ce                   Units from 600 to 9,270± SF - divisible           Up to 12,000± SF; divisible - for Lease
      On site daycare                              Lease rates from $15.50 PSF plus utilities        2,500± SF of of ce space                                  Mid Atlantic
      Former call center                           Close to Rte 73, 38 & 70, I-295 and NJ Tpke       20’-25’ ceilings / 2 docks, 1 drive-in door              Real Estate Journal
                                                                                                                                                            P.O. Box 26, Accord, MA 02018
    Contact: Rebecca Ting, SIOR or Alan Good     Contact: Rebecca Ting, SIOR or Julie Kronfeld     Contact: Jeff Licht, SIOR or Adam Lashner                 781-871-5298 • 800-584-1062
    tel 856 234 9600                             tel 856 234 9600                                  tel 215 396 2900                                                fax 781-871-5299
                                                                                                                                                                 MAREjournal.com
    OFFICE/WAREHOUSE - Lease                     OFFICE CENTER - Lease                             FORMER CAR DEALERSHIP - Sale/Lease
    1200 Haddon eld Rd, Cherry Hill, NJ          Kevon I Of ce Center, Pennsauken, NJ              2829 Philmont Ave, Huntingdon Valley, PA
      10,000± SF of ce & 10,000± SF warehouse      2 Suites available: 1,355± SF & 7,424± SF         20,000± SF; divisible
      100 car parking                              Just off Rte 70 w/ easy access to Rtes 38,        13 drive-in doors and parking for 100 cars
      Cherry Hill’s new “Main Street”              130, I-295 and bridges into Philadelphia          Intersection of NE Phila, Montgomery & Lower
                                                                                                     Bucks Counties
    Contact: John Brown or Scott Mertz, SIOR     Contact: Rebecca Ting, SIOR or Julie Kronfeld
    tel 856 234 9600                             tel 856 234 9600                                  Contact: Jeff Licht, SIOR or Adam Lashner
                                                                                                   tel 215 396 2900                                              Publisher/CEO
                                                                                                                                                                 Linda Christman
                                                                                                                                                            lchristman@marejournal.com



                                                             NAI Mertz                NAI Mertz              NAI Mertz               NAI Mertz of PA
                                                             21 Roland Avenue         Philadelphia           Bucks County            Wilkes-Barre
                                                             Mt. Laurel NJ 08054      3 Parkway, Ste. 1300   1105 Industrial Hwy.    350 Laird Street
                                                             tel 856 234 9600         Philadelphia, PA       Southampton, PA         Wilkes-Barre, PA
                                                                                                                                                                  Section Editor
                                                             naimertz.com             tel 215 221 1100       tel 215 396 2900        tel 570 820 7700             Karen Vachon
                                                                                                                                                               kjoy@marejournal.com
MAREjournal.com   Mid Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008 — 3E




                               Over 200 structures and 16 million square feet of commercial space created
                               in the Delaware Valley sets Whitesell apar t from its competition. We are proud
                               of our technologically advanced office and industrial buildings, office and
                               industrial parks, retail centers and specialty structures. Whitesell guarantees
                               ease and accountability, so you can focus on your business.



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                              on our foundation




                              We’re in the business of building... strong relationships.
                              Make a move, and call Whitesell today.




                                    856 -764-2600
                                    www.whitesellco.com
                          Quality Endures
4E — Mid   Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008                              MAREjournal.com


    INDUSTRIAL REAL ESTATE & DISTRIBUTION CENTERS
                                 Hayden Real Estate Investments purchases project
             Grace of Landmark Commercial Realty
             closes $11 million warehouse portfolio
H
        A R R I S B U R G , PA
        — W. Jason Grace,
        CCIM, SIOR, vice
president of
the Industri-
al / Invest-
ment team
at Landmark
Commercial
Realty closed
a three build-
i n g Tr i p l e
Net leased W. Jason Grace
warehouse portfolio. The
portfolio consisted of nearly
300,000 s/f leased long term
to Ollie’s Bargain Outlet
Stores.                                            8051 Allentown Blvd.                                    6305 Allentown Blvd.

                                                                                                                        The buyer of the project,
                                                                                                                      Hayden Dauphin Associates,
                                                                                                                      LP is an affiliate of Hayden
                                                                                                                      Real Estate Investments
                                                                                                                      purchased the assets from
                                                                                                                      MGB Enterprises, Inc. of New
                                                                                                                      Jersey.



                                          DEVELOPING
                                                                                                                        The project’s total transac-
                                                                                                                      tion volume was in excess of
                                                                                                                      $11 million and closed in the
                                                                                                                      first quarter.


                                                                          PARTNERSHIPS
                                                                                                                        The properties are located
                                                                                                                      along the nationally recog-
                                                                                                                      nized I-81 transportation cor-
                                                                                                                      ridor in Dauphin Cty. ■
                                                                          What makes a successful                     Segal Comm’l. Real
                                                                          partnership? Our answer is                  Estate sells 80,710
                                                                          simple. It’s about people                   s/f whse. property
                                                                          you can count on. A company
                                                                          you can trust. And the kind
                                                                          of experience that makes
                                                                          things happen.

                                                                          That’s how we’ve built our
                                                                          business. And it’s the reason
                                                                          we’ve grown to become one
                                                                          of the largest privately-held
                                                                          real estate development                            3175 Princeton Pike
                                                                          and construction companies                     LAWRENCEVILLE, NJ —
                                                                          in the country. It’s a record               Chuck Segal of Segal Commer-
                                                                                                                      cial Real Estate has announced
                                                                          of success we’d like to put to              the sale of the property at 3175
                                                                          work for you.                               Princeton Pike to 3175 Princ-
                                                                                                                      eton Pike LLC.
                                                                                                                         The property, located at the
                                                                                                                      intersection of Princeton Pike
                                                                                                                      and I-95, consists of a 11,250
                                                                                                                      s/f warehouse building leased
                                                                                                                      to Certified Machinery and a
                                                                                                                      69,460 s/f warehouse building
                                                                                                                      partially leased to Triangle.
                                                                                                                      The balance of the property
                                                                                                                      is presently being marketed
                Offices Nationwide                                                                                     for lease.
                                                                                                                         Chuck Segal of Segal Com-
                 412.208.3655                                                                                         mercial Real Estate represent-
                  www.lauth.net                                                                                       ed the seller, and Steve Tolkach
                                                                                                                      of Newmark Knight Frank
                                                                                                                      represented the buyer. ■
MAREjournal.com                                                                      Mid Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008 — 5E


                                                                                      Central PA Market
                        Celebrating 20 Years!                                                                                                                        Jason Grace, CCIM, SIOR
                                                                                                                                                                   Director of Sales & Leasing
                                                                                                                                                                 Corporate Brokerage Services
                                                                                                                                                                      jgrace@landmarkcr.com
                                                                                                                                                                                                   www.landmarkcr.com
                                                                                                                                                                                   717–731–1990 • 800–722–1990

                                                                                                                                                                                                                         Individual Membership
          F EATURE                                                                                                                                                                      Member of
                                                                                                                                                                                        International Council
                                                                                                                                                                                        of Shopping Centers
                                                                                                                                                                                                                         Society of Industrial and
                                                                                                                                                                                                                         Office REALTORS®
                 P r o p e r t y

                                    3400 Industrial Road                                                               HARRISBURG DISTRIBUTION FACILITY
                                       Harrisburg, PA 17110                                                                                            50,000 SF up to 450,000 SF
                              LUCKNOW INDUSTRIAL PARK

                                                                                                                                      • 50,000 SF up to 450,000 SF High Bay Distribution Space
                                                                                                                                        located in coveted Harrisburg East submarket
                                                                                                                                      • Rail Served Facility with Cross Dock Design, ESFR
                                                                                                                                        Sprinkler System and 30' Clear Ceiling Heights
                                                                                                                                      • Situated on 20 +/- AC site w/ on site trailer lot that can
                                                                                                                                        accommodate up to 150 additional trucks
                                                                                                                                      • Adjacent to Norfolk Southern's Harrisburg Intermodal Yard
                                                                                                                                      • Excellent visibility & access to I-81/I-78, I-83 and
                                                                                                                                        PA Turnpike
                                                                                                                                      • Immediate access to dense, skilled labor force
                                                                                                                                      • Strategic location along I-81 Corridor with connection to
                                                                                                                                        Northeast PA, Lehigh Valley, Philadelphia Metro, Northern
                                                                                                                                        NJ and South Central PA submarkets
        AVAILABLE
                 P r o p e r t i e s




     801 Spangler Road, Camp Hill PA - Up to 164,600 SF of warehouse                     8051 Allentown Boulevard, Harrisburg, PA - 183,000 SF high                270 Silver Spring Road, Mechanicsburg, PA - 104,000 SF high
     space on 8.2 acres available for immediate occupancy. (17) dock doors               bay distribution facility w/ 3,200 SF finished office situated on         bay distribution facility w/ 40,000 SF available 3Q 2008. Located off
     w/ levelers and (1) oversized drive in door w/ expansion. Central in-fill           14.8 acres Available for Sale. Located on Rt. 22 along I-81/I-78          Rt. 11 between (2) full interchanges of I-81 and immediate access to
     location, immediate access to (2) exits of PA Turnpike (I-76), I-81 and             corridor in Harrisburg, PA with full interchange access. (20) dock        the PA Turnpike (I-76). Fully sprinklered building, 24' ceiling heights,
     I-83 . Regional connection to I-95 corridor via I-83. Fully sprinklered,            doors w/ levelers and (1) drive in door. On site secure trailer lot.      with (4) dock doors (expandable) and (1) drive in door. Adjacent to
     21' Ceiling heights, trailer parking & outside storage. Single tenant or            Fully sprinklered with 25' ceiling heights. Manage your Supply Chain      the U S Naval Depot. Situated between Harrisburg, PA and Carlisle,
     multi tenant layouts from 40,000 SF +. Below market rental rates.                   growth, own your facility!                                                PA submarkets.



             ER
          NDRACT
         U T
     C   ON




    68 Green Mountain Road, Hazleton, PA - 400,260 SF Class "A"                         Greater Lewistown Corporate Center, 600 Roundhouse                        1981 Fulling Mill Road, Middletown PA - 107,372 SF Corporate
    regional distribution center on 25.29 acres available for immediate                 Road, Lewistown, PA - 322,309 SF regional warehouse /                     Flex Fulfillment Center on 11.79 acres available for Immediate sublease.
    occupancy. Situated in Humboldt Industrial Park and completed in                    manufacturing business center on 34 acres renovated in 2001               (12) dock doors w/ levelers can be expanded. Located near intersection
                                                                                        available for Sale or Lease. Situated along the Rt. 322 transportation    of Rt. 283 & PA Turnpike (I-76), with immediate connection to
    2007, this facility features tilt up concrete construction, cross dock
                                                                                        corridor, this complex features Norfolk Southern rail access, public      I-81/I-78 & I-83 transportation corridors. Fully sprinklered, 18' to 28'
    design, public utilities, 32' clear ceiling heights, 50' x 50' column spacing,      utilities, 24' clear ceiling heights, & 100% dry sprinkler system.        ceiling heights, w/ over 180 employee parking spaces. Single tenant or
    ESFR sprinkler system, abundant on-site trailer parking and has been                Location provides regional access to Northeast PA, Lehigh Valley,         multi tenant layouts from 50,224 SF +. Situated in HarrisPort Business
    designated a KOZ site providing significant tax abatements. Located                 State College, Altoona, and Central PA submarkets via Rt. 522,            Center, a mixed-use business park consisting of office, research and
    at intersection of I-81 & I-80.                                                     Rt. 22/322, Rt. 11/15, I-99, I-80 with connection to I-81.                development, flex and warehouse/distribution facilities and provides
                                                                                                                                                                  users Foreign Trade Zone status.
6E — Mid    Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008                                                      MAREjournal.com


    INDUSTRIAL REAL ESTATE & DISTRIBUTION CENTERS
                                          CB Richard Ellis’ Tri-State Industrial Group
              Leasing down, sales up in New Jersey’s
              industrial market in first quarter 2008
S
        ADDLE BROOK, NJ            the first quarter was character-      and I-287/Exit 10 submarkets       the current national economy,”      the last three consecutive quar-
        — The northern/central     ized by stability in availability    leading the pack with a com-       said Thomas Tucci, senior man-      ters, totaling 1.13 million s/f, a
        New Jersey industrial      rates and decreases in rental        bined total of 1.40 million s/f.   aging director of CB Richard El-    4.60 million s/f increase from
markets end-                       rates, sale prices and leasing         The industrial sales market      lis’ Tri-State Industrial Group.    fourth quarter 2007’s negative
ed the quar-                       velocity.                            in New Jersey increased in the        “The healthy demand for          3.47 million s/f, but a 1.13 mil-
ter with 2.85                        The report also showed that        first quarter with 5.60 million     warehouse space prevails in         lion s/f decrease from the 2.26
million s/f of                     completed leases in the indus-       square feet sold, compared to      the submarkets surrounding          million s/f of net absorption in
leasing activ-                     trial market during the first        2.17 million s/f of sales trans-   the ports. The majority of new      the first quarter 2007. Given
ity, a decrease                    quarter of 2008 in northern          actions in the fourth quarter      industrial development is oc-       the uncertain economic condi-
from the                           New Jersey totaled 1.32 mil-         2007. The average sale price       curring from the ports south        tions, the New Jersey industrial
fourth quar-                       lion s/f. The Meadowlands            decreased to $76.88 psf, a $6.09   through Exit 5 on the New           market is performing well, due
ter 2007’s                         and Morris region submarkets         decrease from fourth quarter       Jersey Tpke.”                       to the demand for quality indus-
4.04 million Thomas Tucci          experienced the highest leas-        2007’s rate of $82.97 psf, but a      Additional first quarter         trial space from entrepreneurial
s/f and a significant decline      ing activity, with a total of 1.03   $1.79 increase from the average    trends include availability rates   local and tri-state companies
from first quarter 2007, ac-       million s/f leased. In the central   sale price of $75.09 psf in the    remaining unchanged from last       seeking to take advantage of
cording to the research of CB      New Jersey industrial market,        first quarter of 2007.              quarter at 7.3%, which is 0.8%      the slowing market.
Richard Ellis’ First Quarter       1.54 million s/f of leases were        “The industrial sales market     higher than the first quarter           Average asking net lease
2008 Industrial MarketView         completed in the first quarter,       continues to perform strongly      2007’s 6.5%. Net absorption was     rates posted $6.16 psf in the
report. The industrial market in   with the Exit 8A, Trenton/295        amidst the stressful climate in    positive for the first time during   first quarter, down seven cents
                                                                                                                                               from fourth quarter 2007’s rate
                                                                                                                                               of $6.23, and a 12-cent bump
                                                                                                                                               from $6.04 psf in the first quar-
                                                                                                                                               ter of 2007. The northern New
                                                                                                                                               Jersey submarkets experienced
                                                                                                                                               decreased lease rates, accompa-
                                                                                                                                               nied with a lower availability
                                                                                                                                               rate, whereas the majority of
                                                                                                                                               central New Jersey submarkets
                                                                                                                                               experienced higher availability
                                                                                                                                               rates at lower leasing rents.
                                                                                                                                               In northern New Jersey, the
                                                                                                                                               submarkets commanding the
                                                                                                                                               highest rate increases included:
                                                                                                                                               Northwest Bergen (up $0.21
                                                                                                                                               psf) and the Morris Region
             132,500 +/- SF                                                                                                                    (up $0.17 psf). In central New
                                                                                                                                               Jersey, the highest increases
             (expandable)                                                                                                                      were in the Rte. 78 Corridor
                                                                                                                                               (up $2.42 psf) and Central
               14 +/- Acres                                                                                                                    Union (up $2.06 psf). The I-
                                                                                                                                               280 Corridor, Rte. 23 North
          Rail Access Available                                                                                                                and Princeton submarkets led
                                                                                                                                               all markets with the highest
          Ample Car & Trailer                                                                                                                  leasing rate decline. The Exit
                                                                                                                                               8A and Hunterdon submarkets
                 Parking                                                                                                                       remained stable.
                                                                                                                                                  “Local and tri-state entrepre-
                                                                                                                                               neurial companies continue to
                                                                                                                                               dominate the industrial market
                                                                                                                                               as they seek to take advantage
                                                                                                                                               of lowering rates,” stated Mindy
                                                                                Ideally located within                                         Lissner, senior vice president of
                                                                                                                                               CB Richard Ellis. “Additionally,
                                                                                minutes of the Capital                                         international firms are increas-
                                                                                                                                               ingly capitalizing on the weak
                                                                                  Beltway, including                                           dollar and acquiring industrial
                                                                                                                                               space. To satisfy this demand,
                                                                                       I-81, I-83,                                             we are already witnessing in-
                                                                                                                                               creased construction activity
                                                                                    Rts. 11&15 and                                             along the New Jersey Turnpike
                                                                                                                                               and the port markets.”
                                                                                  I-76 (PA Turnpike)                                              The CB Richard Ellis Tri-
                                                                                                                                               State Industrial Group, cen-
                                                                                                                                               trally managed by Tucci, is
                                                                                                                                               the largest industrial services
                                                                                                                                               group in the Tri-State region.
                                              Contact: Adam Campbell                                                                           Supported by in-depth knowl-
                       CAMPBELL Commercial Real Estate, Inc.                                                                                   edge of local, regional and na-
                                                                                                                                               tional industrial markets, CB
                                300 Corporate Center Drive, Suite 201                                                                          Richard Ellis’ industrial team
                                                                                                                                               matches the financial, opera-
                                        Camp Hill, PA 17011                                                                                    tional and qualitative needs of
                                                                                                                                               clients with appropriate real
                 Phone: (717) 737-6161   Fax: (717) 737-9640   www.acampbell.net                                                               estate opportunities. ■
MAREjournal.com                             Mid Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008 — 7E




  EXPERTISE LOCALLY, TRUSTED NATIONALLY
                                 Making a Market from Wall Street to Main Street




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         Elizabeth, NJ                      Wildwood, NJ




   208 Unit Apartment Building        104,000 SF Shopping Strip                  47 Unit Apartment Building        Triple Net (NNN)
          Bellmawr, NJ                      Rockaway, NJ                             North Plainfield, NJ           Toms River, NJ


                                             To access the investment market, contact the market leader.
                                                            Michael J. Fasano
                                                             Regional Manager
                                                          River Drive Center 3
                                                        611 River Drive, 4th Floor
                                                        Elmwood Park, NJ 07407
                                                             (201) 582-1000
                                                     mfasano@marcusmillichap.com
8E — Mid   Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008                                     MAREjournal.com


   INDUSTRIAL REAL ESTATE & DISTRIBUTION CENTERS
                                                                                            CBRE reports stable 1st quarter growth
Former Book of the Month Club Distribution Ctr.
                                                                                            Despite economy, Philly Ind.
CBRE Harrisburg Ind. Svcs.                                                                  real estate forges ahead
Team brokers 184,344 s/f                                                                      PHILADELPHIA, PA —
                                                                                            The Greater Philadelphia CB
                                                                                            Richard Ellis’ first quarter
                                                                                                                             booming in the good times or
                                                                                                                             swooning in the bad, remains
                                                                                                                             virtually unscathed.


M
           ECHANICSBURG,                                                                    2008 report                        “The majority of the Phila-
           PA — Representing                                                                for the re-                      delphia MSA office markets
           the owner, CB Rich-                                                              gion’s indus-                    experienced an increase in
ard Ellis’ Harrisburg Indus-                                                                trial and of-                    both rental and direct vacancy
trial Services Team brokered                                                                fice markets                      rates,” said Robert Walters,
an 184,344 s/f lease at 1225                                                                shows steady                     CB Richard Ellis’ executive
South Market St.                                                                            growth de-                       managing director. “Led by
  The former Book of the                                                                    spite the                        noteworthy positive absorp-
Month Club Distribution Cen-                                                                continuing                       tion in Downtown Philadel-
ter is a 550,000 s/f warehouse                                                              d o w n w a r d Robert Walters   phia, the market boasted its
distribution space situated on                                                              spiral of the                    10th consecutive quarter of
106 acres of land.                                                                          national economy. While the      positive absorption.”
  Currently there is an ad-                                                                 rest of the country is strug-      The Philadelphia MSA office
ditional 270,000 s/f of ware-                                                               gling through the biggest        markets in the first quarter of
house space for lease at 1225                                                               economic downturn in re-         2008 maintained a direct va-
South Market St., as well                                                                   cent memory, the Philadel-       cancy rate below nine percent
as 60,000 s/f of shop/office                                                                phia Metropolitan Statistical    for the second straight quarter.
space. ■                                          1225 South Market St.                     Area (MSA), notorious for not    The Downtown Philadelphia
                                                                                                                             submarket in particular con-
                                                                                                                             tinues to experience a tighten-
                                                                                                                             ing of vacant space thanks to
                                                                                                                             the near 100% completion of
                                                                                                                             the Comcast Center, one of the
                                                                                                                             more prominent office build-
                                                                                                                             ings in the city’s history, and
                                                                                                                             the now fully occupied Cira
                                                                                                                             Center. Both have helped to
                                                                                                                             add almost one million square
                                                                                                                             feet of positive absorption into
                                                                                                                             Downtown Philadelphia.
                                                                                                                               One of the more active and
                                                                                                                             healthy submarkets, the Sub-
                                                                                                                             urban Philadelphia office mar-
                                                                                                                             ket also posted solid numbers
                                                                                                                             for another quarter led by
                                                                                                                             the Plymouth Meeting/Blue
                                                                                                                             Bell area which finished the
                                                                                                                             quarter with close to 240,000
                                                                                                                             sq. ft. of positive absorption.
                                                                                                                             While leasing activity contin-
                                                                                                                             ues to pick up momentum, as
                                                                                                                             the second quarter of 2008 ap-
                                                                                                                             proaches, the direct vacancy
                                                                                                                             rate in the suburbs continues
                                                                                                                             to decrease and is predicted
                                                                                                                             to linger around 13% until
                                                                                                                             recently built speculative
                                                                                                                             projects are completed. In
                                                                                                                             Southern New Jersey, leasing
                                                                                                                             activity is slow but steady as
                                                                                                                             companies are acting more
                                                                                                                             cautious towards their real es-
                                                                                                                             tate. The Northern Delaware
                                                                                                                             office market has started the
                                                                                                                             year off with its highest di-
                                                                                                                             rect vacancy rate and largest
                                                                                                                             amount of negative absorption
                                                                                                                             in the last four quarters due to
                                                                                                                             migration of both the DuPont
                                                                                                                             Company and JP Morgan
                                                                                                                             Chase from Wilmington to the
                                                                                                                             New Castle County Suburbs.
                                                                                                                               The Lehigh Valley office
                                                                                                                             market remains a strong place
                                                                                                                             to do business. However, this
                                                                                                                             regions strength lies in its
                                                                                                                             industrial real estate capa-
                                                                                                                             bilities. Location and supply
                                                                                                                             chain comprehension has
                   (       )                ▲                                                                                become increasingly more im-
                                                                                                                             portant for tenants, landlords
                                                                                                                             and developers alike. Proxim-
                                                                                                                             ity to highways, ports and rail
                                                                                                                               continued on page 16E
MAREjournal.com                                 Mid Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008 — 9E




                                                                                                   Available - Sale/Lease
                                                                                                     Total Building: 309,000 +/- SF
                                                                                                         W
                                                                                                       • Warehouse #1: 253,311 +/- SF
                                                                                                         W
                                                                                                       • Warehouse #2: 50,209 +/- SF
                                                                                                       •OOffice: 5,000+/- SF (Fully Air Conditioned)
                                                                                                     47.43+/- Acres
                                                                                                     22’ - 28’ Ceiling Heights
                                                                                                     21 Dock Doors; 8 Drive-in Doors
                                                                                                     Low Taxes: $0.55 PSF
                                                                                                     Operational Rail Service - Norfolk Southern
                                                                                                     8-Car Capacity
                                                                                                     1,200 AMP Electric Service, 480 Volt - 3 Phase
                                                                                                     Abundant Truck Parking - 50 +/- Trucks
                                                                                                     Riverfront Property to Ship Channel
                                                                                                     Buildings are Divisible and may be Expandable


                                                                                                     Total Building: 270,000 +/- SF
                                                                                                        • Warehouse: 257,000 +/- SF
                                                                                                        • Office: 13,000 +/- SF
                                                                                                     2
                                                                                                     26.68 +/- Acres
                                                                                                     22’ Clear Ceiling Height
                                                                                                     21 Dock Doors; 2 Drive-in Doors
                                                                                                     40’ x 40’ Column Spacing
                                                                                                     Low Taxes $0.44 PSF
                                                                                                     Abundant Trailer Parking
                                                                                                     3,000 AMP Electric Service, 480 Volt
                                                                                                     Rail Available: Norfolk Southern/Conrail
                                                                                                     Buildings are Divisible




    LOCATION: Delanco, Burlington County, NJ
    is conveniently located with easy access to Route 130, the

    New Jersey Turnpike, I-295 and PA I-95; Within close

    proximity to Betsy Ross Bridge, Burlington Bristol Bridge

    and the Pennsylvania Turnpike Bridge.



                      MARC R. ISDANER
                      Director/Senior Vice President
                                                                            www.endurance-re.com

                      (856) 414-4900
                      marc.isdaner@colliers.com




     colliers lanard & axilbund
  Endurance Real Estate Group, LLC
  Colliers Lanard & Axilbund
                                          One Bala Avenue, Suite 502, Bala Cynwyd, Pa. 19004
                                          399 Market Street | Philadelphia | PA 19106
                                                                                                             Phone: 610.664.8300 | Fax: 610.664.8500
                                                                                                             Phone: 215.925.4600 | Fax: 215.925.1040
10E — Mid    Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008                                                      MAREjournal.com


    INDUSTRIAL REAL ESTATE & DISTRIBUTION CENTERS
         By Henry Hanna, CCIM, SIOR, Sperry Van Ness-Miller Commercial Real Estate
          Eastern Shore of Maryland and Southern
           Delaware impact the industrial market
T
          he Eastern Shore of      but do not need to be in the         cut back on new construction       and even over seas. This has         industry moving to the area.
          Maryland and South-      middle of it. There are lower        in our area. There are fewer       opened up some larger indus-         They are attracted by our well
          ern Delaware is a very   tax rates in several of the coun-    new properties coming on the       trial facilities. Dorchester Cty.,   trained and less expensive
unique area.                       ties and many offer industrial       market, and with this contrac-     Maryland has seen the closing        local labor force as well as by
We have seen                       companies some significant tax        tion of the building market,       of several industrial facilities     incentives offered in most of
good indus-                        breaks to locate here. In recent     many commercial builders           recently, but is beginning to        the counties in our area. With
trial activity                     discussions with economic de-        have also consolidated their       attract some new businesses.         two universities and several
recently and                       velopment directors in the six       operations. This has opened up     Swing Foods has purchased            colleges and community col-
expect it to                       counties on the Easter Shore of      some significant opportunities      the old Icelandic facility and       leges, our labor force has many
continue. The                      Maryland and Lower Delaware          in warehousing and in build-       will be open by the summer           opportunities for basic as well
labor costs                        have shown several trends in         ing related existing industrial    of 2008. There is also a new         as advanced training and edu-
and real es-                       real estate that have impacted       and flex space for lease and        defense contractor that has          cation. The knowledge based
tate costs are Henry Hanna         the industrial market.               sale.                              relocated to Dorchester Cty.         industry, microwave filter in-
lower than other more urban          The first trend, which is also        A related trend which start-     and will be open by the time         dustry and companies in the
parts of the Mid-Atlantic Re-      being seen across the country,       ed years ago continues to affect   you read this article.               security industry are creating
gion. There is a slower pace of    is related to the recent slow        our local market. Older food         In Wicomico Cty., Maryland         a new demand for office and
life on the shore which attracts   down in the building industry.       processors and heavy manu-         we are seeing an increase in         industrial space. Wicomico
those companies who need to        Residential and commercial           facturers have been shifting       the number of companies in           Cty. has recently attracted a
be close to the urban market       builders have substantially          their production further south     the knowledge information            satellite location for a hospital
                                                                                                                                                billing services corporation and
                                                                                                                                                two internet and call service
                                                                       Sperry Van Ness-Miller Commercial Real Estate                            facilities. One of these is in the
                                                                                      206 E. Main St.                                           credit/finance field and the oth-
                                                                                                                                                er is in the hospitality field.
                                                                                   Salisbury, MD 21801                                             There are several things
                                                                                      410-543-2440                                              that are happening in the Wal-
                                                                                                                                                lops Island, Virginia area (just
     DELAWARE – Cold Storage Facility                                    Rt. 50, Salisbury - Lt. Industrial Facility                            south of the Maryland/Virginia
                                                                                                                                                state line). Broadband service
                                                                                                                                                is being extended from Patux-
                                                                                                                                                ent River down the center of
                                                                                                                                                the Eastern Shore to connect
                                                                                                                                                at Wallops Island. This back-
                                                                                                                                                bone line will give access to
                                                                                                                                                high speed, high volume users
                                                                                                                                                of data. Already several uni-
     79,140 sq.ft. warehouse facility on 5+ acres Heated &                     25,000 sq.ft. fully heated and air conditioned                   versities and businesses are
     cooled warehouse space freezer space & office space -                           8,000 sq.ft. office area - 4.38 acres                        planning to connect to this ser-
        11 Docks Adjacent to Norfolk Southern main line                          Room to expand building and parking area                       vice. The NASA facility at Wal-
                          $2,295,000                                                             $2,500,000                                     lops Island is seeing growth as
               http://sale.svn.com/cannonplant                                     http://sale.svn.com/winterplacepkwy                          a commercial launch facility
                          MLS 555386                                                             MLS 432833                                     for future deliveries to the
                                                                                                                                                International Space Station.
             Caroline Industrial Park                                            Warehouse Terminal Complex                                     Both Maryland and Virginia
                                                                                                                                                are working together to attract
                Federalsburg, MD                                                      Federalsburg, MD                                          aerospace related companies
                                                                                                                                                from all over the world. These
                                                                                                                                                efforts include creating new
                                                                                                                                                special HUB zones to give
                                                                                                                                                special competitive advan-
                                                                                                                                                tages for those companies
                                                                                                                                                which currently hold or are
           48,640 sq.ft warehouse, 3,162 sq.ft. office                            150,000 sq.ft warehouse, 3,060 sq.ft. office                    attempting to gain contracts
            5 truck docks, Drive-in Door - 7.97 Acres                                4,320 sq.ft. shop building 9.5 Acres                       with the federal government
                 2 rail dock doors and rail spur                                                  $2,750,000                                    who decide to locate in these
                           $2,000,000                                           http://sale.svn.com/bloomingdalewarehouse                       zones. Somerset, Worcester
          http://sale.svn.com/carolinedrivewarehouse                                             MLS 441217                                     and Wicomico Counties in
                           MLS 441272                                                                                                           Maryland are already fielding
                                                                                                                                                inquiries from aerospace and
    SALISBURY, MD - User or Investment                                                                                                          defense related companies
                                                                                                                                                that are being attracted to
                                                                                                                                                the area. They have indicated
                                                                                                                                                that the low cost buildings,
                                                                                                                                                the available labor force and
                                                                                                                                                the new broadband line are all
                                                                                                                                                influencing their decisions.
                                                                             Henry Hanna, CCIM, SIOR       Wesley Cox, CCIM                        Another trend that has been
                                                                              Henry.hanna@svn.com          Wesley.Cox@svn.com                   mentioned in discussions with
     Manufacturing Distribution facility with current annual
                                                                                                                                                the economic development di-
        income of $286,704 with potential to increase.
                                                                                                                                                rectors of the counties in the
               Enterprise Zone - 10 docks doors
                                                                                                                                                mid-shore area concerns our
                          $2,500,000
                                                                                                                                                proximity to the major urban
              http://sale.svn.com/510westroad
                                                                                                                                                markets. Caroline Cty., Mary-
                          MLS 426712                                                                                                               continued on page 16E
MAREjournal.com                                              Mid Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008 — 11E


    INDUSTRIAL REAL ESTATE & DISTRIBUTION CENTERS
                                           By Michael Capobianco, SIOR, Markward Group
                                   Why Are Eastern PA “Big Box”
                                    rental Rates compressed?
H
           ave you ever asked           Industrial, Arcadia Develop-       if the building is completed in               very early stages of lease-up. In                                                                                                             buyer ’s broker ’s knowledge
           yourself how industrial      ment Company, ProLogis, and        nine months there’s money in                  fact, pre-leasing a project before                                                                                                            and negotiation skills will win
           warehouse and distri-        J.G. Petrucci have been here       reserve that they can be taken                construction starts is best of all.                                                                                                           significantly more versus the
bution space,                           for years. Liberty’s 15,000,000    down for tenant improvements.                 Therein, timing has a signifi-                                                                                                                 tenant or buyer’s in dealing
ranging from                            s/f started back in the 1970’s.    This money disappears over the                cant impact on rental rates.                                                                                                                  directly with the owner without
200,000 s/f to                          Because there are several de-      remaining fifteen months. Since                  Lastly, but not least, transac-                                                                                                             a broker.
1,700,000 s/f                           velopers competing for the same    tenant demand or velocity, as                 tions where a tenant or buyer is                                                                                                                But then we should help our
in East Cen-                            transaction in the market, rent-   we sometimes call it, has been                using a savvy broker will more                                                                                                                buyers’ and tenant’s get the best
tral PA, es-                            al figures stay sharp, meaning      strong, the developers have had               times than not get them a bet-                                                                                                                rate possible. We do this every
sentially the                           more in favor of the tenant.       full use of what I would call                 ter or lower rate than without.                                                                                                               day. To be sure you are lined
Lehigh Val-                                And then there’s timing.        their reserve dollars. They can               Why? Because that broker, the                                                                                                                 up with a savvy broker in any
ley Region                              When developers borrow money       use it in various ways to essen-              right broker, keeps records                                                                                                                   given market, look for one with
(Allentown- Michael Capobianco          from banks or life insurance       tially help them “win” a deal.                through constant research of                                                                                                                  the SIOR designation. Any-
Bethlehem-                              companies for their projects       The later in the lease-up period,             deals done by listing. This list                                                                                                              where in thirty countries they
Easton), is not renting higher?         they have a construction loan      the less flexibility there is to               would include date of transac-                                                                                                                are a sure sign you’re dealing
If you are a perspective tenant         period and a lease-up period.      help the transaction. Incentives              tion, tenant name, landlord                                                                                                                   with the best!
or buyer, you probably haven’t          From start to finish, let’s say     such as free rent, extra tenant               name, rental rate, lease term,                                                                                                                  Michael Capobianco, SIOR
asked. You’re too busy wonder-          twenty-four months is our con-     work, and so forth, can be best               and even improvement costs                                                                                                                    is associate broker with the
ing why they aren’t lower? But          struction and lease-up time. So,   negotiated for a tenant at the                to landlord. The tenant or                                                                                                                    Markward Group. ■
as a broker we have and we do
ask! Here’s why:
   Construction costs for com-
mercial-industrial buildings
have gone up at least 40% for
many items in the last two
years. Steel, asphalt, and most
other products that contain oil
have led the way. Demand in
the Lehigh Valley has been near
“boom-like” in the last two years
ending 2007. Activity through
the 1st quarter of 2008 can be
described as “steady and cau-
tious.” But most professionals
will tell you that it is likely to be
slower heretofore. So why rents
are still compressed?
   At a minimum rents haven’t
                                                                                                                                                                                                                                                                                                         6
increased in step with construc-                                                                                         Ke
                                                                                                                           ys
                                                                                                                             ton
                                                                                                                                                                            Keystone Industrial Park
tion costs to date? Certainly
                                                                                                                                   e In
                                                                                                                                          du
                                                                                                                                               str
                                                                                                                                                   ialP
                                                                                                                                                        ark
                                                                                                                                                              Ro                                                                               st

industrial land costs have in-                                                                                                                                                                                                               Ea
                                                                                                                                                                ad
                                                                                                                                                                                                                                        ad
                                                                                                                     y




                                                                                                                                                                                                                                      Ro
                                                                                                                   wa




                                                                                                                                                                                                                                 rk                 Keystone Thomson
                                                                                                                                                                                                                               Pa
                                                                                                                     h
                                                                                                                 Hig




                                                                                                                                                                                                                           l
                                                                                                                                                                                                                      tria                               Building
creased an average of 27% over                                                                                                                                                                                      us
                                                                                                            kely




                                                                                                                                                                                                                d
                                                                                                                                                                                                           In
                                                                                                                                                                                                      ne
                                                                                                         Bla




                                                                                                                                                                                                 to
                                                                                                                                                                                               ys
                                                                                                                                                                                             Ke

the past twenty-four months.
Some properties have traded
once or twice in a two year
period and sold for as much as                                                                                              81
100% higher than their earlier
sale price!! But rents for “large
industrial box” tenants has
moved on average no more than
12% in the Lehigh Valley.
   There are many factors that
                                                                                                                                                                                                                                                                                     6
drive rent. We have already
mentioned the supply/demand
relationship, and the cost of
land, as well as “bricks and mor-
tar.” Financing, competition,                                                                                                                                        81   TO:   80     476                                                               380    84 TO:   80

timing and brokerage all play                                                                                                                                                   WEST                                                                                     EAST




significant roles as well.
   Before the upset in the capital
markets as of the second half of
2007 borrowing rates remained
low and therefore, developers
picked up a tremendous edge in
keeping loan costs down. Com-
petition for warehouse space
in the Lehigh Valley has been
fiercer than ever. AMB, Seagus,
Panattoni and Majestic Realty
have entered the market for                                                                                                                                                                                                                                                              Caracor   LLC



the first time in this two year
period. Yet, Liberty Property
Trust, Brandywine, Higgins
Development, Opus East, First
12E — Mid    Atlantic Real Estate Journal —Industrial / Distribution Centers — May 23 - June 12, 2008                                                  MAREjournal.com


    INDUSTRIAL REAL ESTATE & DISTRIBUTION CENTERS
                                       By Marc R. Isdaner, Colliers Lanard & Axilbund
                            Rising fuel costs got you down?
                                     Rent a legend
A
         ccording to the US        ing and logistics companies to     gallon drives of the customer      majority of these new modern       cores as a good alternative.
         Energy Information        look for ways to cut expenses      base may be a more economi-        buildings are further from ur-     Many of these mature build-
         Administration, the       in order to balance out the rise   cal alternative than one larger    ban areas and rising fuel costs    ings have been passed over
average price                      in fuel costs.                     warehouse that is within a 20      may cause warehousing com-         recently for the new more
of diesel fuel                       One method to do this would      gallon drive.                      panies to look closer to their     modern looking buildings but
has reached                        be to make fewer deliveries          There may also be an in-         customers in certain urban         many of these legends still of-
a record                           and by keeping larger invento-     creased price sensitivity in       areas. In addition, the cost for   fer cost effective space.
high $4.17                         ries. Larger inventories mean      the cost of warehouse space        employees to get to these new        Marc R. Isdaner is direc-
per gallon.                        there will be a need for more      in relation to the overall sup-    warehouses is more expensive       tor, senior vice president
That means                         warehouse space.                   ply chain model. We know the       as they have to travel further     of Colliers Lanard & Axil-
it could cost                        On the other hand, com-          new, big box warehouses that       and public transportation is       bund. ■
over $1,000                        panies could choose to have        have been constructed region-      not an option.
to fill a stan- Marc R. Isdaner     smaller-size warehouses closer     ally during the last few years       We may see some companies        BPG’s 39,887 s/f
dard tractor trailer as most       to a number of customers           are higher priced because          that are looking to lower their    flex ind/whse.
trucks get approximately 5         which would result in reduc-       of rising construction costs,      cost for warehouse space opt
miles per gallon.                  ing the distance and time          higher land acquisitions costs,    for slightly older buildings
                                                                                                                                            facility complete
  This added cost can be signif-   for deliveries. Having two         and a more costly approval         with flexible size parameters         RALEIGH, NC — BPG Prop-
icant and will cause warehous-     warehouses that are within 5       process for entitlements. The      in closer proximity to urban       erties, Ltd. (BPG), one of the
                                                                                                                                            nation’s leading private equity
                                                                                                                                            real estate fund managers,
                                                                                                                                            has announced the comple-
                                                                                                                                            tion of 6520 Meridien Dr., a
                                                                                                                                            newly constructed 39,887 s/f,
                                                                                                                                            multi-tenant, flex industrial
                                                                                                                                            warehouse facility at Sumner
                                                                                                                                            Business Park. BPG acquired
                                                                                                                                            the Park and additional land
                                                                                                                                            in January 2006 as part of its
                                                                                                                                            acquisition of a 66 property
                                                                                                                                            portfolio, totaling more than
                                                                                                                                            4.2 million s/f of industrial,
                                                700 - 15,000 SF of prime office suites at lighted intersection,                             flex and office space and ad-
                                                adjacent to Cherry Hill Mall shopping corridor                                              ditional land.
                                                                                                                                              6520 Meridien Drive can
                                                Immediate access to Phila/Bucks/South NJ via Rtes 38, 70 & 73                               accommodate businesses seek-
                                                Great for corporate branch office, professional services, similar preferred tenants!        ing 3,000 – 39,887 s/f of flex/
                                                                                                                                            industrial office space and of-
                                                   Contact John Hoy at (215) 638-2020 or JohnHoy@MaguireAndPartners.com                     fers dock and drive-in doors,
                                                                                                                                            fiber optics, precast concrete
                                                                                                                                            with glass facades and abun-
                                                                                                                                            dant parking for its tenants.
                                                                                                                                            Located just off of US Rte.
                                                                                                                                            1/Capital Blvd. and the I-540
                                                                                                                                            Interchange Outer Loop, the
                                                                                                                                            building is part of a 558,981
                                                2,000 – 9,000 SF in single story multi-tenant facility                                      s/f campus-style business
                                                Any combination of office/flex/warehouse needs – fully sprinklered                          park situated on 83.5 acres
                                                                                                                                            of attractively landscaped
                                                Close access to Exit 10 off I-295; 10 mins to Comm Barry Br & I-95                          grounds. Sumner Business
                                                Deli & day care on site.                                                                    Park is located 15 minutes
                                                                                                                                            from Durham and Research-
                                                Contact Jim Watson at (610) 668-2540 x 325 or Jim@MaguireAndPartners.com                    Triangle Park.
                                                                                                                                              “We believe Sumner Busi-
                                                                                                                                            ness Park is one of the premier
                                                                                                                                            business parks in the region,”
                                                                                                                                            said David Barndt, VP of BPG
                                                                                                                                            and president of BPG Man-
                                                                                                                                            agement Co. –NC, LLC who
                                                                                                                                            oversees the management of
                                                15,000 SF of Flex/Industrial space; Great for distrib /logistics                            the portfolio for the firm. “Its
                                                Excellent location near NJ Tpke, I-295, and Rtes 38, 70 & 73                                desirable location, amenities,
                                                                                                                                            and proximity to major shop-
                                                16’-20’ clear height, three tail-gates w/ dock shelters, 1 drive-in door                    ping malls, hotels, restaurants
                                                                                                                                            and major interstates make
                                                Contact Jim Watson at (610) 668-2540 x 325 or Jim@MaguireAndPartners.com                    it ideal for a variety of busi-
                                                                                                                                            nesses in the Raleigh-Durham
                                                                                                                                            region.”
                                                                                                                                              The portfolio is managed by
                                                                                                                                            BPG Management Co. – NC,
                                                                                                                                            LLC. Mike Green, Ken Pen-
                                                                                                                                            nington, and John Palamar of
                                                                                                                                            BPG Mgmt.-NC are the leas-
                                                                                                                                            ing agents for the property. ■
MAREjournal.com                              Mid Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008 — 13E




                                               BIG PRICE REDUCTION
                                       INT. 81 CORRIDOR INDUSTRIAL SITE FOR SALE !


    Top Shelf Of?ce Space!                                                  Flex Of?ce Space!                   New Listing!




                            MOOSIC                                                                     THROOP
  Six combinations of class A of?ce space from 2,714 s/f to 19,428         Two of?ce suites in the Keystone Flex Building, Keystone Indus-
  s/f. Full service leases. Finished & un?nished space. None better!       trial Park available for lease. Both 4,800 s/f with one receiving door
  Plenty of free parking. Easy on & off I-81. Close to restaurants,        each. Both are sprinklered. Quick access to Interstate Routes 80,
                                      WILKES-BARRE, PENNSYLVANIA
  hotels, shopping & entertainment. The Scranton Area’s premier
  multi-tenant of?ce building complex. Call 207-4100 for details.
                                                                           84, & 380. For well located and affordable of?ce space, look no
                                                                           further. Call us at 207-4100.

                  RENT — $19 / Square Foot                       SITE                    RENT — $7 / Square Foot
             •       Fifteen + (15.04) Acres                           •    Industrial Park Location
             •       Natural Gas, Public Water & Sewer                 •    Industrial Zoning
             •       Survey Map Available                              •    Protective Covenants
    Medical Of?ces & More!                                                  Rail Access
                                                                       • Class A Of?ce Suite!

                                     CRESTWOOD INDUSTRIAL PARK
             •      1,050 Acres – 25 Companies                         •        Pa. Am. Water – 12” & 20” Mains;
             •      Interstate Routes 80 & 81 Access                            4.8 Mil. Gal./Day
             •      PPL Electric – Two 69 KV Lines                     •        Rail – Class I Interconnect
             •      PG Energy Gas – 4”, 8”, 10” Mains;                 •        Air – U.S. Customs Station
                    40-50 lb. Pressure                                 •        Fiber Optic Telecommunications service
             •      Sewer – & SCRANTON
                   DUNMORE8” & 12” Lines                                                               MOOSIC
  Ash Street Of?ce Complex is now offering up to 10,000 s/f of       21,382 s/f suite in Bank of America Service Center, Montage.
                                               STRATEGIC LOCATION
  space (in 2,500 s/f increments) in its newest building. Parking at
  doorstep. Close to Scranton hospitals. Easy to reach for patients.
                                                                     Modern, state-of-the-art business park building. Full service lease
                                                                     offered. Cafeteria. Plenty of free parking at your door step. This is
                         •                                           a great opportunity 80, 81 & 476)
                               Interstate Highway Access (Interstate Routes for the right tenant. Call us at 207-4100.
  Non-medical tenants welcomed as well. Call us at 207-4100.
                       •   Norfolk Southern
                  RENT — $11 / Square Foot & Canadian Paci?c Rail Service $18 / Square Foot
                                                               RENT —
                        •      Affordable, Highly Skilled Work Force
                        •      Only Two Hours From New York and Philadelphia
                        •      Join Fairchild Semiconductor, Gatorade, CertainTeed, Office Depot

                                            SALE PRICE — $700,000
14E — Mid   Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008                                                                                               MAREjournal.com


   INDUSTRIAL REAL ESTATE & DISTRIBUTION CENTERS
                  5.1 million s/f of sales occurred in the beginning months of this year
                       Cushman & Wakefield first
                   quarter performance in New Jersey
E
       AST RUTHERFORD,           New Jersey Industrial Market                                                                   First Quarter 2008   first quarter of 2008 produced      Commerce Center located on
                                 Statistical Summary                                                                  All Space Types - WD/HT/MF
       NJ — While the North-                                                    Overall        Overall                    YTD          Average
                                                                                                                                                     6.0 million s/f of industrial      Dowd Avenue recently was
       ern and Central New                                                     Available      Vacancy       Under     Construction Asking NNN        leasing activity in Northern       completed, with 25,000 s/f of
Jersey office                    Submarket Name              Inventory*         Space          Rate**    Construction Completions       Rents        and Central New Jersey – an        its 143,756 s/f total pre-leased
markets en-                                                                                                                                          increase of more than 800,000      to W.W. Grainger. In Hamilton
                                  Bergen County               121,155,698        6,773,517     5.6%            82,350             0     $7.89
joyed some                        Essex County                 69,672,830        2,242,859     3.2%           191,196             0     $6.93
                                                                                                                                                     s/f from last quarter and on par   Township, a 90,300 s/f flex
bright spots                      Hudson County                91,343,116        4,096,091     4.5%                 0             0     $6.05        with activity recorded at this     building at 5 Commerce Way
during the                        Morris County                45,822,533        3,375,867     7.4%           100,000             0     $7.61        time last year. Overall vacancy    was delivered to the market,
                                  Passaic County               46,159,410        2,587,372     5.6%                 0             0     $8.39
first quarter                     Northern NJ Totals           374,153,587       19,075,706     5.1%           373,546              0    $7.34        rates declined slightly to 6.5     with 40,000 s/f pre-leased to
2008, the                                                                                                                                            percent, and demand for high-      The New Jersey State Depart-
sector over-                      Mercer County                29,231,307        4,491,302     15.4%          854,377        90,300     $7.57        tech/flex buildings helped to       ment of Health & Human
                                  Middlesex County            233,418,234       18,079,513      7.7%        2,281,718             0     $6.71
all saw slow                      Monmouth County              17,171,335        1,452,970      8.5%          270,000             0     $8.48
                                                                                                                                                     raise the direct weighted rental   Services.
growth. On Gualberto Medina       Somerset County              43,914,971        2,297,815      5.2%           86,400             0     $6.78        rates to $7.02 psf.                  The biggest surprise of the
the industrial front, perfor-     Union County                 71,973,650        4,269,226      5.9%                0       143,756     $5.36           In Middlesex County, cloth-     first quarter involved a no-
                                 Central NJ Totals            395,709,497       30,590,826      7.7%        3,492,495       234,056     $6.76
mance bucked expectations, re-                                                                                                                       ing manufacturer Wicked            table spike in industrial sales
sulting in significantly strong   Overall Totals               769,863,084       49,666,532     6.5%         3,866,041       234,056     $7.02        Fashions leased 418,213 s/f        activity. Approximately 5.1
leasing performance.             * Estimated Inventory            ** Estimated Vacancy Rate                                                          at 329-333 Herrod Boulevard        million s/f of sales occurred in
      Industrial Recap           Research Services                                                                                                   in South Brunswick. In Eliza-      the beginning months of this
                                 Cushman & Wakefield of New Jersey, Inc.
  Countering the expected, the                                                                                                                       beth, Building I of Portview       year, of which 3.5 million s/f
                                                                                                                                                                                        was purchased by investors.
                                                                                                                                                                                        The largest sale consisted of
                                                                                                                                                                                        a portfolio of more than 1.0
                                                                                                                                                                                        million s/f. KTR Capital Part-
                                                                                                                                                                                        ners purchased 380 Middlesex
                                                                                                                                                                                        Avenue and 580 Port Carteret
                                                                                                                                                                                        Avenue, both located in Cart-
                                                                                                                                                                                        eret and fully leased to White
                                                                                                                                                                                        Rose Foods.
                                                                                                                                                                                          “Industrial investment sales
                                                                                                                                                                                        activity this quarter already
                                                                                                                                                                                        represents 60 percent of 2007
                                                                                                                                                                                        totals,” said Gualberto “Gil”
                                                                                                                                                                                        Medina, executive manag-
                                                                                                                                                                                        ing director of the company’s
                                                                                                                                                                                        New Jersey operations. “We
                                                                                                                                                                                        anticipate that this surge will
                                                                                                                                                                                        help maintain strength in the
                                                                                                                                                                                        industrial market through the
                                                                                                                                                                                        coming months. Additionally,
                                                                                                                                                                                        New Jersey continues to be one
                                                                                                                                                                                        of the nation’s most significant
                                                                                                                                                                                        distribution hubs. All of these
                                                                                                                                                                                        factors may allow the state’s
                                                                                                                                                                                        industrial real estate market
                   COMMERCIAL • RETAIL • INDUSTRIAL                                                                                                                                     to demonstrate resilience in the
                                                                                                                                                                                        face of a slowing economy.” ■
                  The complete outdoor services provider since 1976
                                                                                                                                                                                        Stockton & Girard
                • LANDSCAPE MAINTENANCE                                                                      • SNOW & ICE MANAGEMENT
                                                                                                                                                                                        Estate acquire
          • COMPLETE PARKING LOT MAINTENANCE                                                                         • IRRIGATION                                                       warehouse asset
               • DESIGN/BUILD INSTALLATION                                                                          • TREE SERVICE                                                         PHILADELPHIA, PA —
              • CONSTRUCTION MANAGEMENT                                                                          • CUSTOMER SERVICE                                                     Stockton Real Estate Advisors,
                                                                                                                                                                                        LLC in partnership with the
                                    TOLL FREE 800-644-6035                                                                                                                              Girard Estate, has completed
                                                                                                                                                                                        the acquisition of 3501 Island
                                                                                                                                                                                        Ave. The class A, 85,000 s/f
                                                                                                                                                                                        light manufacturing/warehouse
                                                                                                                                                                                        building is situated on more
                                                                                                                                                                                        than ten acres and is expand-
                                                                                                                                                                                        able by another 45,000 s/f.
                                                                                                                                                                                           Located off of I-95, with ac-
                                                                                                                                                                                        cess to I-76 and I-476, the prop-
                                                                                                                                                                                        erty is less than a mile from
                                                                                                                                                                                        Philadelphia International
                                                                                                                                                                                        Airport.
                                                                                                                                                                                           3501 features 19,000 s/f of
                                                                                                                                                                                        office space, 15,000 s/f of con-
                                                                                                                                                                                        ditioned manufacturing floor
                                                                                                                                                                                        area, 51,000 s/f of warehouse

                        www.lipinskiland.com                                                                                                                                            area with 24’ clear height
                                                                                                                                                                                        throughout, 10 loading docks,
                                                                                                                                                                                        additional cross-docking oppor-
                                                                                                                                                                                        tunity, and a drive in bay. ■
MAREjournal.com                                     Mid Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008 — 15E


   INDUSTRIAL REAL ESTATE & DISTRIBUTION CENTERS
                 Pottstown Industrial Complex is a 1.2 million s/f property on 45 acres
     Battagliese & Adams of Jackson Cross
  Partners completes 120,000 s/f industrial lease
          O T T S T O W N , PA    part of The Marmon Group,                                                                Parker Ford, PA. Koons Steel,

P         — Jackson Cross
          Partners, LLC an-
nounced the
signing of a
                                  a Chicago-based consortium
                                  of 125 companies in manu-
                                                  facturing
                                                  and service
                                                                                                                           founded in 1935 by Frank
                                                                                                                           Koons Sr, was a general line
                                                                                                                           steel service center with cus-
                                                                                                                           tomers located primarily in
long-term,                                        industries,                                                              the Pennsylvania, Delaware,
120,000 s/                                        with an-                                                                 and Southern New Jersey
f lease by                                        nual rev-                                                                region.
Bushwick                                          enue of ap-                                                                Industrial Investments
Metals Inc.,                                      proximately                                                              Inc. is a family-owned and
at Pottstown                                      $7 billion.                                                              operated rehabilitator and
Industrial                                        The eastern                                                              property management firm.
C o m p l e x . Lou Battagliese      Nick Adams   Pennsylva-                                                               The company, headquartered
Pottstown                                         nia opera-                                                               in Ambler owns 24 properties
Industrial Complex is owned       tion was formed formed in                                                                totaling more than 4 million
by Industrial Investments         2007 when Bushwick Metals                                                                s/f of industrial, flex and of-
Inc. of Ambler, PA.               Inc., of Butler, Pennsylva-                                                              fice space in southeastern
  “Pottstown Industrial Com-      nia acquired Koons Steel of                  Pottstown Industrial Complex                Pennsylvania, southern New
plex with its high ceilings,                                                                                               Jersey and Delaware. ■
overhead cranes, truck load-
ing docks, drive-in doors and
rail service is ideal for Bush-
wick Metals,” said Lou Batta-
gliese of Jackson Cross Part-
ners. “Bushwick is a general
line steel service center with
an inventory that includes
wide flange beams, pipe, tub-
ing, and flat roll products,
plus numerous galvanized
mini mill products. Pottstown
Industrial Complex provides
easy access to both Routes
322 and 100.
  “Pottstown Industrial Com-
plex is a 1.2 million s/f prop-
erty on 45 acres, which was
originally a Bethlehem Steel
facility, and was then owned
by Dana Corporation.”
  Lou Battagliese and Nick
Adams of Jackson Cross
Partners in cooperation with
Steve Becht, SIOR of the
Becht Company, represent-
ed Bushwick Metals in the
transaction.
  Bushwick Metals Inc., is a

Hawley Realty
represents buyer
in $6 million sale
  ALLENTOWN, PA — Haw-
ley Realty Inc. represented
the buyer of the 170,000+
s/f former Downyflake Waffle
Plant.
  American Atelier, the buy-
er, was represented by Paul
Weiss SIOR. This company
will be converting the facil-
ity for the manufacture of
premium grade wooden and
upholstered hotel and insti-
tutional furniture. They re-
located from a smaller plant
within the City of Allentown,
where they employ 240+
skilled craftsmen.
  The aggregate value of
this transaction was $6 mil-
lion. ■
16E — Mid     Atlantic Real Estate Journal —Industrial / Distribution Centers — May 23 - June 12, 2008                                                      MAREjournal.com


    INDUSTRIAL REAL ESTATE & DISTRIBUTION CENTERS
Including 142,500 s/f at 7125 Grayson Rd. in Harrisburg CBRE reports stable 1st quarter growth
                                                                                                            Despite economy, Philly
Grubb & Ellis Co. completes                                                                                 Ind. real estate forges
industrial transactions                                                                                       continued from page 8E
                                                                                                            lines eliminates unnecessary
                                                                                                            transportation costs making
                                                                                                                                                used to aid the manufactur-
                                                                                                                                                ing sector and the majority of
                                                                                                                                                money will go toward indus-


P
        HILADELPHIA, PA —            Corporation                         trial lease renewal                industrial                          trial developments in Bucks,
        Grubb & Ellis Company        Lessee: Allegro Microsystems,       Location: 3325 Connelly Road,      parks with-                         Montgomery and Philadel-
        a leading real estate ser-   Inc.                                York                               out them                            phia counties to create new
vices and investment manage-         Description: 16,853 s/f indus-      Representatives: Steve Bonge,      potentially                         jobs for approximately 280
ment firm, today announced the        trial lease extension               Tim Brogan and Pat McBride         obsolete and                        people as well as retain jobs
following lease transactions:        Location: 955 Mearns Road,          of Grubb & Ellis represented       potential                           for countless others. In ad-
• Lessor: 7125 Grayson Road          Warminster                          the lessee.                        candidates                          dition, Bucks, Chester and
Investors, LLC                       Representatives: Matt Devine        • Lessor: Broder Brothers          for adaptive                        Montgomery counties have
Lessee: American Power Con-          of Grubb & Ellis represented        Lessee: S. Walter Packaging        reuses.                             been active with numerous
version Corp.                        the lessee. Taylor King of GVA      Description: 77,652 s/f indus-        “Consider- Carl Gersbach         investment sales this quarter.
Description: 142,500 s/findus-        Smith Mack represented the          trial sublease                     ing the state of the national       The Southern New Jersey
trial lease extension                lessor.                             Location: 9250 Ashton Road         economy, the Greater Phila-         industrial market has seen a
Location: 7125 Grayson Road,         • Lessor: Willow Spring Part-       Representatives: Eustace Wolf-     delphia industrial market           large amount of smaller sized
Harrisburg                           nership                             ington of Grubb & Ellis rep-
Representatives: Steve Bonge,        Lessee: Ingersoll Rand Media        resented both the lessor and        “Considering the state of the national economy, the
Tim Brogan and Pat McBride           Release                             lessee.
of Grubb & Ellis represented         Description: 10,000 s/f indus-      • Lessor: Tornetta Realty Cor-     Greater Philadelphia industrial market is holding strong
the lessor.                          trial lease extension               poration                           with over 700,000 s/f of positive absorption,” said Carl
• Lessor: Mack-Cali Realty           Location: 95 Willow Springs         Lessee: Waco Instruments,          Gersbach, CB Richard Ellis’ managing director.
Corporation                          Circle, York                        Inc.
Lessee: Tozour Trane, Inc.           Representatives: Steve Bonge,       Description: 12,614 s/f indus-
Description: 6,365 s/f of indus-     Tim Brogan and Pat McBride          trial lease extension              is holding strong with over         deals between 40,000 s/f and
trial space                          of Grubb & Ellis represented        Location: Norriton Business        700,000 s/f of positive absorp-     110,000 s/f while the Phila-
Location: 2 Executive Drive,         the lessee.                         Campus, 2101 Potshop Lane,         tion,” said Carl Gersbach, CB       delphia County’s growth, with
Moorestown, N.J.                     • Lessor: Stallman Leasing          Norristown                         Richard Ellis’ managing di-         only small to medium sized
Representatives: Jeff Tertel of      Company                             Representatives: Carl Neilson,     rector. “Investment volume is       buildings available, continues
Grubb & Ellis represented the        Lessee: Tenneco Automotive          Tim Brogan, Steve Bonge and        steady and active for the right     to be encumbered by a lack of
lessee.                              Walker, Inc.                        Pat McBride of Grubb & Ellis       buyers. Altogether, leasing ac-     inventory.
• Lessor: Acorn Development          Description: 13,750 s/f indus-      represented the lessee.            tivity remains healthy in most        Despite national economic
                                                                                                            submarkets despite reports by       concerns, both the Philadel-
                                                                                                            brokers of elongated decision       phia MSA office and industrial
Hartz Mountain leases 95,000 s/f at Harmon Cove                                                             making and less velocity in         markets forges ahead. The
  continued from page 2E             We’ll be the only facility in       off Route 3 East and West and      deal closings.”                     industrial market remained
and position them in a premier       the metro area that will house      the NJ Turnpike North and            The Lehigh Valley indus-          ahead of the curve in the first
location,” said Emanuel Stern,       state-of-the-art lighting, audio,   South, just eight miles from       trial market has seen multiple      quarter of 2008 and should
president and COO of Hartz           convergence and video shops         the Port of Newark. Located        construction projects in the        continue at a more measured
Mountain Industries.                 under the same roof and we’ll       within minutes of Manhattan        past two years, especially on       pace when compared to 2006
  “In terms of real estate, we’ve    now have more than adequate         and the Newark Liberty Inter-      the eastern side which has          and 2007. The Downtown
been victims of our own suc-         space to prep a show of any         national Airport, the building     become popular as a logistics       Philadelphia office market
cess for the past three years        size while keeping the same         is also easily accessible from     location for companies distrib-     will continue to see rental
and have been forced to juggle       distance from midtown Man-          the Garden State Parkway,          uting products throughout the       rates increase and tenants
our limited shop capacity as         hattan as we have now,” says        Routes 17, 46, 1 & 9 and arter-    Northeast and Mid-Atlantic          will be forced to consider early
our business has expanded.           Josh Weisberg, President of         ies to I-80, I-95 and I-280. The   States. Land has started to         renewal clauses due to lack of
We’re very excited about this        Scharff Weisberg.                   building offers accessibility to   become scarce in the area so        office space available and may
new space because the 95,000           77 Metro Way consists of          mass transit with the Secaucus     many developers have begun          encourage developers to pro-
s/f of shop space, along with        384,543 s/f of prime industrial     Junction train station just half   to build in Central and North-      pose new construction projects
12 loading docks, will allow         space, perfect for distribution     a mile away and bus service        east Pennsylvania where land        in 2008, such as the American
our audio, video and lighting        or warehouse space. The build-      to New York’s Port Author-         is plentiful and more moder-        Commerce Center.
shops to provide quick, efficient     ing is ideally located in the       ity and various points in New      ately priced supplying indus-         According to Select Greater
and well-coordinated service.        Harmon Cove Business Park           Jersey. ■                          trial tenants with new product,     Philadelphia, the area’s 91
                                                                                                            ample land and reasonable           Universities are involved in
Eastern Shore of Maryland and Southern Delaware . . .                                                       rates. This flight to quality in     $3.70 billion in capital proj-
                                                                                                            the Central PA region, the larg-    ects which will provide 5,555
 continued from page 10E               Sussex Cty., Delaware has         great opportunity for small        est industrial submarket, saw       construction jobs over the next
land is home to over a dozen         seen a slow down in resort          companies looking for space        two large transactions occupy-      five years. Philadelphia Mayor
national and regional truck-         related construction along the      from 25,000 – 200,000 s/f.         ing over 2.5 million s/f of space   Michael Nutter has also prom-
ing companies. The trucking          eastern most areas, which has       There are many choices cur-        this quarter. Northeast PA also     ised to make City Hall more
industry has grown up in the         opened up some flex space as         rently on the market. There        posted strong absorption fig-        business friendly and his ini-
mid-shore area due to it easy        contractors consolidate. In the     are strong incentive programs      ures as new construction and        tiatives have already material-
access to Interstate 95, Route       Georgetown, DE area of the          for training and tax abatement     proposed projects are plentiful.    ized with Unisys Corporation
301 and the ports of Balti-          county they are seeing con-         for companies moving to the        Major activity has been seen        and Gamesa Energy USA an-
more, MD Philadelphia, PA            tinued growth in airport and        area. And there continue to        in build-to-suit opportunities      nouncing the addition of jobs
and Wilmington, DE. Each of          business park activity. The air-    be trends affecting this area      here with several deals over        to Downtown Philadelphia.
these ports is within 60 miles       craft related industries seem       that will provide more op-         800,000 s/f projected to break      The local residential real es-
of this area. Caroline Cty. of-      to be strong in and around the      portunities for employers and      ground sometime this year.          tate market is also starting to
fers 3 industrial parks in the       small airport located there.        employees. The Eastern Shore         Pennsylvania Governor             loosen with showings reported
town of Federalsburg and is          There are several facilities        of Maryland and Lower Dela-        Edward G. Rendell has com-          to be up 50% this year after
a part of the One Maryland           involved with jet plane refur-      ware are a great place to live     mitted almost $5 million to         two disappointing quarters in
Program, which gives great           bishment.                           and work.                          spark economic growth in            2007. Amidst all the doom and
tax incentives to companies            The economic outlook for            Henry Hanna, CCIM,               five counties in Pennsylvania        gloom surrounding the United
relocating to these areas.           the future, as clarified by the      SIOR is with Sperry Van            this quarter with the goal          States economy, Philadelphia
Dorchester Cty. and Somerset         economic development profes-        Ness-Miller Commercial             of ensuring Pennsylvania’s          has managed to avoid the talks
Cty. also participate in the One     sionals on the shore is positive    Real Estate is based in            competitiveness in the global       of recession that some claim is
Maryland Program.                    for 2008 and 2009. There is a       Salisbury, MD. ■                   economy. The funding will be        a self-fulfilling prophecy. ■
MAREjournal.com                                                         Mid Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008 — 17E



MAREJ INDUSTRIAL TRANSACTION REPORT 2007
Industrial Sales & Leases reported in Mid Atlantic REAL ESTATE JOURNAL ~ January 12, 2007 - December 28, 2007
                                                    SELLER/                  REP. OF                  BUYER/                      REP. OF
 PROPERTY                                           OWNER/                   SELLER/                  TENANT/                     TENANT/
 NAME                     ADDRESS                   LESSOR                   LESSOR                   LESSEE                      BUYER                  PRICE         SIZE          DESC.      S/L       PG

920 E. Lycoming St.       Philadelphia, PA      —                        Sidney E. Gable          Richard Seitchik            PIDC                      $150k      24,000 s/f     Off./Whse.    S     3A-Jan

                          Associates

1400 Distribution Dr.     Carlisle, PA          DP Partner               DP Partners              DMI                         Landmark Comm’l. Realty   —          —              Whse.         L     18A-Jan

115 Moonachie Ave.        Moonachie, NJ         Jim Bob Taylor           Russo Development        —                           Trammell Crow Co.         —          34,253 s/f     Off./Whse.    L     5B-Jan

Campus                    Florham Park, NJ      —                        —                        Rock-GW                     —                         —          493 acre       Mixed-use     S     6B-Jan

161 Woodbine St.          Begen eld, NJ         Piermont Props.          David Hirschman Realty   Coleman Tile                Cushman & Wake eld        —          12,000 s/f     Flex          L     8B-Jan

111 Ikea Dr.              King of Prussia, PA   The Dolan Grp.           Jackson Cross Ptrs.      Of ce Depot                 —                         —          112,360 s/f    Ind.          L     19B-Jan

Rancocas Park             King of Prussia, PA   The Dolan Grp.           Jackson Cross Ptrs.      The Standard Registry Co.   —                         —          210,000 s/f    Ind.          L     19B-Jan

Golden Triangle           Mechanicsburg, PA     High Bay                 Ind. Props. Grp.         100 Louis Parkway           —                         $45.78m    400,000 s/f    Whse.         S     2B-Feb

                                                                         At NAI CIR

200 Cascade Dr.           Allentown, PA         Conewago Equities        Ind. Props. Grp.         First Ind. Acquisitions     —                         combined   554, 400 s/f   Whse.         S     2B-Feb

                                                                         At NAI CIR

320 Busser Rd.            York, PA              Suburban PA Property     Ind. Props. Grp.         Logue & Acker               —                         combined   178,564 s/f    Ind.          S     2B-Feb

                                                Acquisitions             At NAI CIR

571 Independence Ave.     Cumberland Cty., PA   RREEF                    CBRE                     Dividend Capital Trust      —                         —          378,000 s/f    Whse./Dist.   S     4B-Feb

2060 Detwiler Rd.         Harleyville, PA       RBC Bearing              GVA Smith Mack           Corvest Realty Grp.         —                         —          132,000 s/f    Ind.          S     9B-Feb

Orion Philadelphia        Philadelphia, PA      Caslteway props.         CBRE                     Concord Steel               —                         $2.8m      82,783 s/f     Off./Ind,     L     10B-Feb

2404 Gettysburg Rd.       Camp Hill, PA         ProLogis                 ProLogis                 Cequent Towing Products     CBRE                      —          52,000 s/f     Whse.         L     10B-Feb

Pittston Dist. Ctr.       Scranton, PA          ProLogis                 ProLogis                 Kane Warehousing            —                         —          230,000 s/f    Whse.         L     12B-Feb

Palm Industrial Center    Greenlane, PA         Brode/Brooks Ptrs.       Brode & Brooks           Fabrication Concepts        —                         —          16,000 s/f     Ind.          L     12B-Feb

Marlborough Ind. Pk.      Greenlane, PA         John Yanan               Apt. Corp.               Eastern Environmental       Brode & Brooks            $1.547m    25,000 s/f     Ind.          S     12B-Feb

2621 Van Buren            Lwr. Providence, PA   BPG Props.               NAI Geis                 Almac Clinical Svcs.        Colliers L&A              —          24,000 s/f     Whse.         L     14B-Feb

2621 Van Buren            Lwr. Providence, PA   BPG Props.               NAI Geis                 Paycheck North America      The Acclaim Grp.          —          17,300 s/f     Off/Flex      L     14B-Feb

249 Canal Rd.             Bucks Cty., PA        Roddy Inc.               Roddy Inc.               Jacobson Logistics Co.      —                         $238,000   56,086 s/f     Ind.          L     15B-Feb

283 Prospect Plains Rd.   Cranbury, NJ          ProLogis                 ProLogis                 SanMar Corp.                Colliers Houston          —          309,000 s/f    Whse./Dist.   L     4A-Feb

1000 Riverside Dr.        Keasby, NJ            Frank A. Greek &         Trammell Crow Co.        Synnex                      Colliers Houston          —          228,500 s/f    Whse./Dist.   L     4A-Feb

                                                Son/Ing Clarion Ptrs.

220 St. Nicholas Ave.     S. Plain eld, NJ      —                        Colliers Houston         Allen Flavors               Colliers Houston          —          74,366 s/f     Ind.          L     4A-Feb

330 S. Warminster         Philadelphia, PA      Station Park LLC         CBRE                     330 Ws. Warminster          —                         —          419,000 s/f    Off/Ind       S     15A-Feb

                                                                                                  Road Assocs.

138 Georges Rd.           South Brunswick, NJ   ING Clarion              Trammell Crow Co.        Medicia Corp.               Jones Lang LaSalle        —          102,108 s/f    Ind.          L     10B-Feb

1101 Wheaton Ave.         Millville, NJ         Alcan Global             Binswanger               Millville Inv. Grp.         —                         —          163,572 s/f    Ind.          S     10B-Feb

                                                Pharmaceutical Pkg.

42 Intervale Rd.          Parsippany, NJ        Kosch-Glitsch LP                                  Christian Testimony         CBC Feist & Feist         $3.4m      64,000 SF      Ind.          S     3A-Mar

7066 Snowdrift Rd.        Allentown, PA         —                        —                        O’Briens Moving             CBC Feist & Feist         —          44,000 SF      Whse.         L     3A-Mar

100 Melrich Rd.           Cranbury, NJ          Gambro US                CBC Feist & Feist        Albert Kemperle             —                         —          41,000 SF      Dist.         S     3A-Mar

6670 Grant Way            Allentown, PA         —                        —                        Rapp Pallet                 CBC Feist & Feist         —          22,325 SF      Whse.         L     3A-Mar

759 Roble Rd.             Allentown, PA         —                        CBC Feist & Feist        CDG Techologies             —                         —          22,800 SF      Flex/Whse     L     3A-Mar

749 Robel Rd.             Allentown, PA         —                        CBC Feist & Feist        Dynamex                     —                                    19,200 SF      Flex          L     3A-Mar

2451 Baglyos Circle       Bethlehem, PA         HAF, Inc.                CBC Feist & Feist        Champion Window             —                         —          8,776 SF       Off/Whse      L     3A-Mar

6383 Winside Dr.          Bethlehem, PA         —                        CBC Feist & Feist        Valley Windows              —                         —          3,360 SF       Whse.         L     3A-Mar

10 County Line Rd.        Branchburg, PA        Berger & Co.             CBC Feist & Feist        The Bohns                   —                         —          3,000 SF       Ind.          S     4A-Mar

1866 Auburn St.           Bethlehem, PA         —                        CBC Feist & Feist        Dreamston Granite           —                         —          5,000 SF       Whse.         L     4A-Mar

6344 Winside Dr.          Bethlehem, PA         —                        CBC Feist & Feist        Aquatech Imports            CBC Feist & Feist         —          4,970 SF       Whse.         L     4A-Mar

35 Thatcher Rd.           Cranbury, NJ          Forsgate Ind. Ptrs.      Forsgate Ind. Ptrs.      VSE Corp.                   Studley                   —          103,881 SF     Whse.         L     4A-Mar

1400 Distribution Dr.     Harrisburgh, PA       DP Partners              DP Partners              Supplies Network            Landmark Comm’l.          —          73,377 SF      Dist.         L     FC-B-Mar

9775 Commerce Circle      Lehigh Valley, PA     Arcadia West Assoc.      Garibaldi Grp.           —                           —                         $12.25m    226,417 SF     Ind.          S     FC-B-Mar

401 Quality Circle        W. Hanover Twp., PA   DP Partners              —                        UPS Supply Chain            Roddy Inc                 $7m        —              Ind.          L     2B-Mar

550 S. Henderson Rd.      King of Prussia, PA   Raymours Furniture.      —                        Reber-Friel Co.             Roddy Inc                 $1.3m      83,000 SF      Ind.          L     2B-Mar

3 Chelsea Pkwy.           Boothwyn, PA          Buccini/Pollin Grp.      CBRE                     QS Pharma                   —                         $3.6m      20,425 SF      Off./Whse.    L     4B-Mar

March Creek Corp.         Exton, PA             Marsh Creek              Beacon Comm’l.           Hayden Marsh Creek.         Beacon Comm’l.            —          184,359 SF     Off/Flex      L     4B-Mar
18E — Mid           Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008                                                                                                  MAREjournal.com




MAREJ INDUSTRIAL TRANSACTION REPORT 2007
Industrial Sales & Leases reported in Mid Atlantic REAL ESTATE JOURNAL ~ January 12, 2007 - December 28, 2007
                                                      SELLER/                   REP. OF                         BUYER/                           REP. OF
 PROPERTY                                             OWNER/                    SELLER/                         TENANT/                          TENANT/
 NAME                      ADDRESS                    LESSOR                    LESSOR                          LESSEE                           BUYER                        PRICE        SIZE        DESC.       S/L        PG

18 Nearly Blvd.            Marcus Hook, PA        —                         The Flynn Co.                   —                                Zommick McMahon .               $1.05m    —             Whse.         S     6B-Mar

31 Oak Ave.                Chalfont, PA           Oak Avenue Ptrs.          Grubb & Ellis                   220 Gar eld Ptrs.                Grubb & Ellis                   —         123,750 SF    Ind.          S     17B-Mar

2322 N. Seventh St.        Harrisburg, PA         —                         —                               Phillips R.E. Inv. Partnership   NAI/CIR                         —         5,000 SF      Whse.         L     2A-Mar

100 Arrandale Rd.          Exton, PA              Brandywine Realty Trust Brandywine Realty Trust           Dopco                            Studley                         —         34,931 SF     Ind.          L     5A-Mar

1502 River Rd.             Burlington Twp., NJ    —                         NAI Mertz                       —                                —                               $1.285m   8,000 SF      Ind.          S     5A-Mar

20 Corporate Circle        DE                     Corporate I               Grubb & Ellis                   Verizon                          Grubb & Ellis                   —         32,000 SF     Ind.          L     8A-Mar

473 Ridge Rd.              South Brunswick, NJ    McMaster-Carr             Garibaldi Grp.                  Freeze, Inc.                     Lee & Klatskin                  $16m      318,389 SF    Off/Flex      S     FC-B-Mar

—                          Somerset, NJ           Prologis                  Prologis                        SanMar Corporation               Colliers Houston                —         309,000 SF    Ind.          L     4B-Mar

82 Totowa Rd.              Wayne, NJ              East Medow Corp.          Cushman & Wake eld              Toshiba                          CBRE                            —         138,000 SF    Off/Flex      L     5B-Mar

141 West Front St.         Red Bank, NJ           Hovnanian Enterprises     —                               CBRE                             —                               —         92,878 SF     Off/Flex      L     5B-Mar

Saw Mill Park              Kearny, NJ             Russo Development, LLC Russo Development, LLC             Pepsi Bottling Group, LLC        Choyce-Peterson                 —         135,398 SF    Ind.          L     6B-Mar

20 East Halsey Rd.         Parsippany, NJ         United States             NAI James E. Hanson             Yogi Divine Society              NAI James E. Hanson             $7.8m     77,350 SF     Ind.          S     7B-Mar

                                                  Land Resources

800 Central Blvd.          Carlstadt, NJ          Global Document           Russo Development               —                                Global Document                 —         129,000 SF    Off./Whse.    L     6B-Mar

                                                                                                                                             Solutions

21 Audrey Place            Fair eld, NJ           The Estates of            Fallivene Agency                Protech Chemicals Ltd.           Cushman & Wake eld              —         33,600 SF     Ind.          L     7B-Mar

                                                  Frank Basile

Pedricktown Commons        Bridgeport, NJ         Henderson Global          CBRE                            Cobalt Capital Partners          —                               —         237,504 SF    Whse.         L     16B-Mar

                                                  Investors

Silver Lake Bu. Pk.        Reno, NV               DP Ptrs.                  DP Ptrs.                        Viega North America              —                               —         135,000 SF    Ind.          L     3A-April

6 Shirley Ave.             Somerset, NJ           Molecu Wire               Sheldon Gross Realty            Merloa Sales                     —                               —         43,600 SF     Ind.          S     4A-April

10 Bloom eld Ave.          Pine Brook, NJ         —                         —                               Initial Tropical Plants          Staubach Co.                    —         24,000 SF     Whse.         L     6A-April

Rte. 940                   Lehigh Valley, PA      —                         Summit Mgmt. & Realty           —                                Summit Mgmt. & Realty           $2m       60,000 SF     Off/Whse      S     FC-B-April

Park Valley Corp. Ctr.     Chester Cty., PA       Park Valley Assoc.        CBRE                            IT Edge                          Tegler Bush                     —         2,300 SF      Flex          L     8B-April

Park Valley Corp. Ctr.     Chester Cty., PA       Park Valley Assoc.        CBRE                            Hearfelt                         Tegler Bush                     —         4,300 SF      Flex          L     8B-April

Park Valley Corp. Ctr.     Chester Cty., PA       Park Valley Assoc.        CBRE                            For Realty                       —                               —         8,200 SF      Flex          L     8B-April

—                          West Chester, PA       —                         CBRE                            HDW                              CBRE                            —         14,000 SF     Whse.         L     8B-April

249 Chambers Rd.           New Garden Twp., PA    Mr. & Mrs. Potter         CBRE                            Ruppert Nursuries                —                               $250k     6,000 SF      Flex          L     8B-April

431 Railroad Ave.          Shiremanstown, PA      First Ind. Realty Trust   NAI/CIR                         Rite Aid Corp.                   —                               —         100,000 SF    Whse/Off      L     9B-April

Hokes Mill Rd.             York, PA               Susquehanna Pfaltzgraff Rock Comm’l.                      Douglas Zook                     —                               —         169,635 SF    Ind.          S     15B-April

151 Crown Court            Pittsburgh, PA         —                         —                               Weisner Steel Products           Grant Street Assoc./            —         19,500 SF     Whse.         L     18B-April

                                                                                                                                             Cushman & Wake eld

200 Cascade Dr.            Allentown, PA          —                         —                               First Industrial Realty Trust    NAI/CIR                         —         510,300 SF    Ind.          S     7A-April

2460 Gen. Armistead Ave.   Conshohocken, PA       Buccini Pollin Grp.       Beacon Comm’l.                  Crystal Ball Contracting         Beacon Comm’l.                  —         38,564 SF     Flex          S     21A-April

705 Gen. Washington Ave.   Montgomery Cty., PA    Buccini Pollin Grp.       Beacon Comm’l.                  Organica’s                       Tornetta Realty Group           —         17,366 SF     Off/Ind       L     21A-April

Metropark Corp. Ctr.       Woodbridge, NJ         Rockwood Capital &        Paul, Hastings, Janofsky & Walker Tishman Speyer                 Fried, Frank, Harris, Shriver   —         910,000 SF    Off/Ind       S     22A-April

                                                  Ivy Equities                                                                               & Jacobson

270 Rte. 17 South          Mahwah, NJ             Ridgewood Corp.           NAI Hanson                      Swings and Things                Provest Realty                  $5.5m     57,000 SF     Ind.          S     4B-April

109 North 5th St.          Saddlebrook, NJ        —                         Greenberg Nicoletta             —                                HP/iCap & Schultz Mgmt. Corp.   $7.85m    142,000 SF    Ind.          S     5B-April

                                                                            and Stein

Headquarters Plaza         Morristown, NJ         Olnick Organization       Cushman & Wake eld              Duff & Phelps                    CBRE                            —         19,126 SF     Ind.          L     10B-April

4800-4801 Broadway         Union City, NJ         Goal Investments          Weilheimer of Kislak            Paramount Acquis.                Holland of Kislak               $23.9m    85,000 s/f    Mix           S     3A-May

775 Waltham Way            Reno, NV               DP Partners               —                               ACH Foam Tech.                   —                               —         180,000 s/f   Ind.          L     6A-May

211 S. Gulpg Rd.           —                      —                         —                               Arsenal Real Estate              —                               $15.9m    100,000 s/f   Whse.         S     FC-B-May

513 Forest Rd.             Hazle Twp., PA         —                         Fein of CL&A                    Karchner/Riccetti                Fein of CL&A                    $1.8m     80,000 s/f    Ind.          S     2B-May

2410 Gettysburg Rd.        Lower Allen Twp., PA   —                         NAI/CIR                         Reusable Container Co.           NAI/CIR                         —         33,600 s/f    Whse.         L     8B-May

1000 Keystone Ind. Pk.     Scranton, PA           Walton Street Capital     Cushman & Wake eld              SC Realty Ventures               Cushmand & Wake eld             $11.7m    296,000 s/f   Whse/Ind.     S     11B-May

2536 Spring eld Ave        Union City, NJ         —                         David Cronheim Co.              Maple Crest Auto Grp.            David Cronheim Co.              —         16,604 s/f    Whse.         L     8B-May

900 Kennedy Blvd.          —                      Fresta Associates         NAI Mertz                       Starcross, LLC                   NAI Mertz                       —         40,000 s/f    Ind.          L     9B-May

144 Fair eld Rd.           Fair eld, NJ           Crispy Green              Space of Space Realty           Chanrish Management              Coldwell Banker F&F             —         4,750 s/f     Flex          L     10B-May

30 Wesley St.              South Hackensack, NJ   Hampshire Companies       NAI James E. Hanson             European Stone Art               NAI James E. Hanson             —         27,000 s/f    Ind.          L     11B-May
MAREjournal.com                                                            Mid Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008 — 19E



MAREJ INDUSTRIAL TRANSACTION REPORT 2007
 Industrial Sales & Leases reported in Mid Atlantic REAL ESTATE JOURNAL ~ January 12, 2007 - December 28, 2007
                                                     SELLER/                    REP. OF                      BUYER/                         REP. OF
  PROPERTY                                           OWNER/                     SELLER/                      TENANT/                        TENANT/
  NAME                      ADDRESS                  LESSOR                     LESSOR                       LESSEE                         BUYER                             PRICE       SIZE          DESC.   S/L        PG

100 Louis Pkwy.            Carlisle, PA          CB Richard Ellis           Industrial Properties Grp.   Carolina Logistics Services    CB Richard Ellis                —             400,000 s/f   Ind.        L     10D-May

                           / NAICIR              and IDI

2040 N. Union St.          Middletown, PA        —                          —                            Sears Logistics Center         Industrial Properties Grp.      —             507,000 s/f   Ind.        L     10D-May

                                                                                                                                        /NAICIR

200 Cascade Dr.            Allentown, PA         —                          Industrial Properties Grp.   Toyo Tire Corporation          —                               —             93,600 s/f    Ind.        L     10D-May

                                                                            /NAICIR

Emrick Blvd.               Bethlehem Twp., PA    —                          —                            Clinimed                       Koepcke of Hawley Realty        $190k         4,750 s/f     Ind.        L     10D-May

6951 Allentown Blvd.       Harrisburg, PA        Golden Eagle Business Ctr. Landmark                     180 Connect Inc.               Commercial Industrial Realty    —             4,950 s/f     Ind.        L     12D-May

1135 Dillerville Rd.       Lancaster, PA         Thermal Solutions          NAI Commercial Partners      Auntie Annies                  Coldwell Banker Homesale        —             93,066 s/f    Ind.        L     14D-May

                                                 Products                                                                               Svcs. Group

—                          East Hemp eld, PA     –                          —                            PI Real Estate                 NAI Commercial Partners         —             32,400 s/f    Ind.        S     14D-May

—                          Lancaster, PA         BMH Associates             NAI Commercial Partners      Quality Custom Cabinetry       High Associates                 —             57,500 s/f    Ind.        L     14D-May

220 Centerville Rd.        East Hemp eld, PA     Samuel Miller & Sons       NAI Commercial Partners      Red Stag Holding Co.           NAI Commercial Partners         $2m           71,351 s/f    Ind.        S     14D-May

201 Port Jersey Blvd.      Jersey City, NJ       RREEF                      CB Richard Ellis             Phoenix Logistics              CB Richard Ellis                —             204,000 s/f   Ind.        L     17D-May

421 Fehely Dr.             Ambler, PA            —                          Touhey of CB Richard Ellis   Alfresco Home LLC              Touhey of CB Richard Ellis      —             15,085 s/f    Ind.        L     17D-May

421 Fehely Dr.             Ambler, PA            —                          Lichtenstein of GMAC RE      Select Express & Logistics     Lichtenstein of GMAC RE         —             10,125 s/f    Ind.        L     17D-May

421 Fehely Dr.             Ambler, PA            —                          Grubb & Ellis                Judge Audio Visual Solutions   Grubb & Ellis                   —             10,125 s/f    Ind.        L     17D-May

711 First Avenue           Ambler, PA            —                          Strickler of GVA Smith Mack Internet tness.com              Strickler of GVA Smith Mack     —             14,375 s/f    Whse.       L     17D-May

321 Benigno Blvd.          Bellmawr, NJ          —                          Colliers Lanard & Axilbund   Comcast IP Services            Colliers Lanard & Axilbund      —             40,000 s/f    Ind.        L     18D-May

440 Benigno Blvd.          Bellmawr, NJ          —                          Colliers Lanard & Axilbund   Lighthouse Logistics           Colliers Lanard & Axilbund      —             10,000 s/f    Ind.        L     18D-May

1053-55 Thomas Busch       Bellmawr, NJ          Saverio Lacroce            Isdaner of CL&A              Peirce Phelps                  Ricci and Borsky of the Flynn Co. —           14,000 s/f    Ind.        L     18D-May

Memorial Hwy

436 Commerce Lane          Bellmawr, NJ          Ronald Biglin              Isdaner of CL&A              Spec-Rep Associates            Kardon of Mertz                 —             5,200 s/f     Ind.        L     18D-May

Building 8, NE Ind. Park   Maywood, NJ           Heritage Management        CB Richard Ellis             McGrann Paper                  —                               —             55,000 s/f    Ind.        L     20D-May

6951 Norwitch Dr.          Philadelphia, PA      Dennis Trucking Co. Inc. CBRE                           Hertz Equipment Rental         NAI Geis Realty Group, Inc.     —             28,045 SF     Ind.        L     8A-June

1660 E. Race St.           Allentown, PA         —                          CBC Feist & Feist Realty     R&D Assembly                   CBC Feist & Feist Realty        —             12,500 SF     Whse.       L     6B-June

7066 Snowdrift Rd.         Allentown, PA         —                          CBC Feist & Feist Realty     O’Brien’s Moving & Storage CBC Feist & Feist Realty            $2.2m         44,000 SF     —           S     6B-June

731 Linden St.             Allentown, PA         —                          —                            Mathew M. Hyde                 CBC Feist & Feist Realty        —             70,000 SF     Whse.       S     6B-June

904 Moarcon Blvd.          Allentown, PA         —                          —                            SCI, Inc.                      CBC Feist & Feist Realty        —             4,800 SF      Whse.       S     6B-June

3000 Emrick Blvd.          Allentown, PA         —                          CBC Feist & Feist Realty     Clinimed                       —                               —             4,747 SF      Flex.       L     6B-June

—                          Lehigh Valley, PA     —                          CBC Feist & Feist Realty     Burksh LLC                     CBC Feist & Feist Realty        $425,000      —             —           S     6B-June

941 Marcon Blvd.           Lehigh Valley, PA     HAF Inc.                   CBC Feist & Feist Realty     Valley Windows and Doors       —                               —             3,200 SF      —           L     6B-June

3000 Emrick Blvd.          Bethlehem, PA         HAF Inc.                   CBC Feist & Feist Realty     Nobilis                        —                               —             4,747 SF      —           L     6B-June

3000 Emrick Blvd.          Bethlehem, PA         HAF Inc.                   CBC Feist & Feist Realty     DC&E Management                —                               —             2,373 SF      —           L     6B-June

200 E. Penn Ave.           Alburtis, PA          —                          CBC Feist & Feist Realty     D&D Heating & Cooling          —                               $473,500      —             Whse.       S     6B-June

57 Ash Circle              Bucks Cty., PA        Nappen and Assoc.          Tucker Realty Corp.          Elite Air Systems Inc.         —                               $620,000      18,750 SF     —           L     6B-June

452 Pkwy.                  Broomall, PA          —                          Source Realty                Prosit Print Solutions         Colliers Houston & Co.          —             11,572 SF     Ind.        L     10B-June

695 Vista Blvd.            Sparks, NV            —                          —                            CoLinx LLC                     DP Partners/Dermody             —             135,399 SF    Ind.        L     8A-June

472 Boot Rd.               Downingtown, PA       IFM & G. Antonini          CBRE                         IFM Efector, Inc.              —                               $800,000      24,241 s?f    Flex        L     4B-July

13, 17 Brenneman Circle    Mechanicsburg, PA     Robert E. Diehl            Landmark                     RJH Realty LLC                 RJH Realty LLC                  —             44,600 SF     Flex        L     14B-July

10 Madison Rd.             Parsippany, NJ        —                          Richards and Robbins         Amneal Pharmaceuticals         Colliers Houston                —             12,912 SF     Whse.       L     12A-July

8290 National Hwy.         Pennsauken, NJ        First Industrial           Colliers L&A                 8290 National Hwy. Assoc.      Colliers L&A                    $3.61m        111,240 SF    Ind.        S     4B-July

                                                 Realty Trust

8295-8301 National Hwy.    Pennsauken, NJ        Pioneer Warehousing        Colliers L&A                 —                              —                               —             40,000 SF     Ind.        L     4B-July

—                          Bridgeport, NJ        —                          NAI/CIR                      Central Ink Corp.              NAI/CIR                         —             29,000 SF     Ind.        L     7B-July

2960 Woodbridge Ave.       Edison, NJ            Katoen Natie               CBRE                         SteelFab Realty                Newmark Knight Frank            —             186,811 SF    Whse.       S     16B-July

                                                 Golf Coast

266 Ridge Rd.              South Brunswick, NJ   AIC Ventures               Colliers Houston & Co.       Allied Fittings                Staubach Co.                    —             80,000 SF     Ind.        S     16B-July

4 Esterbrook Dr.           Marlton, NJ           First Ind. Realty Trust    NAI Mertz                    Riggs Distler                  CBRE                            $2.1m         39,200 SF     Flex        S     6A-Aug

3 Arentzen Blvd.           Charleroi, PA         APB Holdings               PA Commercial RE             Quality Driven CoPack          PA Commercial RE                —             30,900 SF     Whse.       L     10B-Aug

One Herron Ave.            Emsworth, PA          Sampson Morris Group PA Commercial RE                   Pittsburgh Poison All Stars    PA Commercial RE                —             10,000 SF     —           L     10B-Aug
20E — Mid          Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008                                                                                         MAREjournal.com



MAREJ INDUSTRIAL TRANSACTION REPORT 2007
Industrial Sales & Leases reported in Mid Atlantic REAL ESTATE JOURNAL ~ January 12, 2007 - December 28, 2007
                                                        SELLER/                 REP. OF                     BUYER/                        REP. OF
 PROPERTY                                               OWNER/                  SELLER/                     TENANT/                       TENANT/
 NAME                     ADDRESS                       LESSOR                  LESSOR                      LESSEE                        BUYER                        PRICE       SIZE         DESC.     S/L        PG

One Herron Ave.          Emsworth, PA             Sampson Morris Group PA Commercial RE                 McCarthy Tire Services       PA Commercial RE              —           18,000 SF     Flex.        L     10B-Aug

                                                                                                        of Pittsburgh

2860 Bath Pike           Nazareth, PA             S&L Plastics              Colliers Lanard&Axilbund/   Af liate of Endurance RE Grp. —                            —           188,500 SF    Flex.        S     17B-Aug

                                                                            ReimerReal

411 Yerkes Rd.           King of Prussia, PA      Industrial Investments    CBRE                        Ferguson Enterprises, Inc.   CBRE                          $1.25m      50,000 SF     Whse.        L     17B-Aug

6951 Allentown Blvd.     Harrisburg, PA           —                         Landmark Comm’l RE/         U.S. Remodelers, Inc.        CRESA Parners                 —           9,600 SF      Flex.        L     20B-Aug

                                                                            First Ind. Realty Trust

2670 Lehigh Valley St.   Whitehall, PA            —                         Summit Mgmt. & Realty Co. Advanced Window Concepts —                                   —           3,100 SF      Flex.        L     12E-Aug

955 Trinity Rd.          York, PA                 Thaddeus & Ronda Abbot —                              Champions Training Center    ROCK Commercial               —           7,200 SF      Ind.         L     9D-Aug

621 Rte. 1               North Brunswick, NJ      —                         Cushman & Wake eld          —                            —                             —           350,000 s/f   Warehouse    L     7B-Sept

1901 E. Linden Ave.      Hackensack, NJ           YSI Management, LLC       NAI Hanson                  Choji’s City, Inc            —                             —           5,760 s/f     Warehouse    L     10B-Sept

4 Esterbrook Dr.         Marlton, NJ              Industrial Realty Trust   —                           Riggs Distler                CB Richard Ellis              $2.1m       39,200 s/f    Flex         S     13B-Sept

5 N. Olney Ave.          Cherry Hill, NJ          Industrial Realty Trust   NAI Mertz                   Olney Properties LLC         —                             —           30,000 s/f    Flex         S     14B-Sept

800 Coopertown Rd.       Burlington, NJ           —                         CB Richard Ellis            D-Tek Logistics              Colliers Lanard & Auxilbund   —           270,000 s/f   Warehouse    L     18B-Sept

2700 Burlington Ave.     Burlington, NJ           —                         CB Richard Ellis            D-Tek Logistics              Colliers Lanard & Auxilbund   —           309,000 s/f   Warehouse    L     18B-Sept

1 Capital Dr.            Cranbury, NJ             —                         CB Richard Ellis            Wathne Ltd.                  CB Richard Ellis              —           76,968 SF     Industrial   L     7A-Oct

CenterPoint Commerce     Pittston, PA             —                         —                           Kane Is Able                 Mericle Commercial RE Svcs    —           744,000 SF    Warehouse    —     6B-Oct

& Trade Park

York Business Center     York, PA                 Brasler Properties &      —                           RR Donnelley and Sons        CB Richard Ellis                          685,000 SF    Mixed Use    L     9B-Oct

                                                  New Boston Fund

61 N. Front St           Palmyra, PA              —                         Landmark                    —                            —                             —           22,500 SF     Industrial   L     9B-Oct

1241 Peters Mountain Rd. Dauphin, PA              —                         NAI CIR                     Mahar Thabata                Landmark                      —           2,520 SF      Warehouse    S     9B-Oct

278 Commerce Dr.         Lower Swatara Twp., PA   First Ind. Realty Trust   NAI CIR                     Net ix                       Colliers L&A                  —           12,152 SF     Warehouse    L     9B-Oct

625 Winks Lane           Bensalem, PA             —                         Mulberribush Inc.           Burton2Associates LLC        Roddy Inc.                    $3.1m       58,744 SF     Industrial   S     18B-Oct

543 Forset Rd.           Scranton, PA             Greater Hazleton          Hinerfeld Commercial RE     The Dober Group              —                             $800k       30,000 SF     Ind.         S     14A-Oct

                                                  Community Are New

                                                  Development Org.

Cranberry Plaza          Parsippany, NJ           —                         CB Richard Ellis            Grottesman Real Estate       CB Richard Ellis              $19.05m     203,871 s/f   Industrial   S     1B-Nov.

10 Enterprise Ave        Secaucus, NJ             —                         Hartz                       —                            Hartz                         —           125,904 s/f   Industrial   L     7B-Nov

20-30 Continental Dr     Wayne, NJ                —                         Hartz                       —                            Hartz                         —           153,000 s/f   Industrial   L     7B-Nov

77 Metro Way             Secaucus, NJ             —                         Hartz                       —                            Hartz                         —           141,000 s/f   Industrial   L     7B-Nov

211 W. Sylvania Ave.     Neptune City, NJ         —                         Weichert Comm’l.            —                            Weichert Comm’l.              $8.7m       128,000 s/f   Industrial   S     8B-Nov

222 South Dean St.       Englewood, NJ            NJ Label                  NAI Hanson                  Something Special            Trust Realty                  —           16,600 s/f    Industrial   L     9B-Nov

121 Rte. 46              Fair eld, NJ             131 US Hwy. 46 Assoc. Sheldon Gross                   Browne & Company             CB Richard Ellis              —           93,612 s/f    Warehouse    L     11B-Nov

134 Clinton Rd.          Fair eld, NJ             Ramfair Associates        Sheldon Gross               HOB Realty                   Newmark Knight Frank          —           52,998 s/f    Warehouse    L     11B-Nov

140-142 Clinton Rd.      Fair eld, NJ             Mar Realty Associates     Sheldon Gross               Flowserve                    Staubach Company              —           38,045 s/f    Industrial   L     11B-Nov

1 Entin Rd.              Morris Plains, NJ        Tulfra Realty             —                           Fabris Holdings              Weichert Comm’l.              $2.75m      25,002 s/f    Industrial   S     19B-Nov

North Bergen             Gar eld, NJ              —                         —                           —                            Marcus & Millichap            $3.35m      12,200 s/f    Mixed Use    S     20B-Nov

18212 Shawley Dr.        Hagerstown, MD           First Industrial          —                           Rowman &Little eld           First Industrial              —           150,000 s/f   Warehouse    L     3C-Nov

                                                                                                        Publishing Grp.

3380 Susquehanna Trail   York, PA                 Starbucks Corp.           NAI/CIR                     Hager Paci c Properties      NAI/CIR                       $5m         112,500 s/f   Ind.         —     6A-Dec

700 Rte. 46 West         Clifton, NJ              —                         —                           Vincent Huang and Assoc.     NAI Hanson                    —           9,022 s/f     Ind.         S     10A-Dec

1855 Weaversville Rd.    Bethlehem, PA            Warner Crivellaro         Summit Mgmt and Realty      BLS Realty Assoc.            Prudential Patt White         $1.8m       38,000 s/f    Warehouse    S     1B-Dec

2994-2996 Samuel Dr.     Bensalem, PA             Black Rock Realty         —                           5K Logistics                 CBRE                          $2.2m       100,000 s/f   Warehouse    L     8A-Dec

249 Canal Rd.            Bucks Cty., PA           Roddy Inc.                Roddy Inc.                  Jacobson Logistics Co.       —                             $238,000    56,086 s/f    Ind.         L     15B-Dec

650 Ore St.              Bowmanstown, PA          —                         —                           —                            Summit                        $170,000    55,000 s/f    Warehouse    S     12B-Dec

4 Wildon Dr.             Bowmanstown, PA          Formica Corporation       —                           Inter-Coastal Trucking       Summit                        $700,000    43,000 s/f    Warehouse    S     12B-Dec

830-878 Braddock Ave.    O’Hara Twp., PA          —                         —                           Trau and Loevner             Massaro Properties            —           62,000 s/f    Warehouse    S     13B-Dec

250 Cranberry Park       Pittsburgh, PA           Cranberry Business Park Grubb & Ellis                 Westinghouse Electric        CBRE                          —           63,000 s/f    Flex         L     15B-Dec

I-70 Commerce Center     Belle Vernon, PA         —                         NAI Pittsburgh              Closetmaid Corp.             —                             —           55,000 s/f    Warehouse    L     15B-Dec

64 Halstead Blvd.        Zelioenople, PA          IBB                       NAI Pittsburgh              GP Gwinett                   —                             —           120,000 s/f   Flex         S     15B-Dec
21E — Mid   Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008                                                                     MAREjournal.com




                                                                                                                84




                                                                            80


                                                                    HAZELTON
                                                                                           309
                                                                                                                           22
                                                                                                                                                        95
                                                                       81
                                                                                                                             78
                                                                                  78                                                                                     95
                                  PENNSYLVANIA
                                                                                                               ALLENTOWN                                           195
                                                                                                    100                                                      295
                                                                                                                                       276
                                                                                                          476
                                                                                                                                                 95
                                                                            276
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                                                                             222                          76                      RIV
                                                          83                                                                          ER
                                          CARLISLE
                     SHIPPENSBURG                                                                   PHILADELPHIA
                                                     LEWISBERRY                                                                            676        MARLTON
                   CHAMBERSBURG                                   30

                                                                                                                                           BRIDGEPORT
                                                                                                                295
                                         HAGERSTOWN
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                                           70

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                                                         ELKRIDGE
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                                                       COLUMBIA   95

                                                                       ANNAPOLIS
                                                                                                          DELAWARE


                                        For 35 years, Liberty has developed warehouses that are durable,
                                        efficient and flexible. We select the most accessible locations and
                                        integrate state-of the-art technologies to help our clients reduce
                                        expenses and streamline operations. Today, Liberty owns over 20
                                        million square feet of industrial space and over 400 acres of
                                        developable land in Pennsylvania, Maryland and New Jersey.
                                        Whatever your supply chain needs, Liberty will help you deliver.

                                        To learn more about Liberty’s distribution and warehouse
                                        solutions, contact Troy Briggs, Director-Leasing and Development,
                                        at 610.633.7273 or 717.545.6869.




                                         Enhancing people’s lives through extraordinary work environments.
                                       www.libertyproperty.com • NYSE:LRY • United States • United Kingdom
E Back Cover — Mid   Atlantic Real Estate Journal — Industrial / Distribution Centers — May 23 - June 12, 2008                     MAREjournal.com




                                                                                 Need a new facility yesterday?
                                                                                 We can deliver.
                                                                                    New 365,760 SF cross-docked distribution facility
                                                                                    25-Acre site
                                                                                    32’ Clear-height ceiling
                                                                                    Bay Size: 60’ x 60’
                                                                                    96 Truck docks & 4 drive-in doors
         Need a logical logistics location?
         LogistiCenter at Logan.                                                    Parking for 235 cars & 88 trailers
                                                                                    ESFR fire-suppression system
           1,100-Acre, master-planned logistics park
                                                                                    Completion scheduled for 2008
           Numerous & flexible build-to-suit opportunities
                                                                                    Exclusive Building Agent: CB Richard Ellis
           5,500,000 SF of warehouse, distribution &
                                                                                    Bill Goodwin: (215) 561-8743
           manufacturing space
           12 Miles southwest of Philadelphia in Logan Township                  Exclusive Land\Build-to-Suit Agent:
           One half mile north of Exit #10 on toll-free I-295
           Rail served by two Class I railroads via SMS Rail Lines
           12 Miles south of Philadelphia International Airport
                                                                                 Scott Mertz, SIOR; Leroy Kardon, SIOR;
           16 Miles south of the Port of Philadelphia                            Tony DiDio, SIOR • www.naimertz • (856) 234-9600

                                                  All Roads Lead to DP



      WWW.DERMODY-PROPERTIES.COM                                                           WWW.LOGISTICENTER.COM

				
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