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News release

EAST RUTHERFORD, NJ

JLL’s NJ Office Tapped for 2 Awards by NAIOP NJ

Firm honored by NAIOP NJ with Industrial Deal of the Year Award, Judges Award


EAST RUTHERFORD, N.J., May 24, 2016 — The New Jersey chapter of NAIOP, the commercial real estate development association, honored JLL with two awards at the organization’s 28th Annual Commercial Real Estate Awards Gala on May 12. The firm won the Industrial Deal of the Year Award for its participation in leasing the Elizabeth Logistics Center in Elizabeth, N.J. It was also recognized with a Judge’s Award for its work with Advance Realty to bring Nestlé Health Science to the New Jersey Center of Excellence in Bridgewater, N.J.

“JLL remains a leading force in New Jersey commercial real estate,” said Robert Kossar. “Developers and building owners through the state continue to rely on JLL’s ability to successfully oversee large, complex transactions. Both of these efforts brought new tenants to New Jersey, along with hundreds of new jobs, and will have a far reaching impact on the Garden State for many years.”

In October 2015, Nestlé Health Science announced it would bring a global research and development headquarters for a new product technology center – including employees from around the world – to the 1.2 million-square-foot New Jersey Center of Excellence, which boasts a state-of-the-art infrastructure that includes modern lab facilities, redundant utilities and cutting-edge communications capabilities. The company signed a long-term lease for 180,000 square feet at the campus.

JLL’s Dan Loughlin, international director and head of office brokerage in New Jersey; Craig Eisenhardt, senior vice president; and Robert Ryan and Scott Stange, vice presidents, represented building owner Advance Realty in the transaction, along with Advance Realty’s Kurt Padavano, COO, and Barry Quiner, director of asset management. Timothy Greiner and Joseph Zona, executive managing directors, and Kevin Duckler, managing principal, all with Newmark Grubb Knight Frank, represented Nestlé Health Science in the transaction.

Elberon Development Group and The Avidan Group jointly developed the Elizabeth Logistics Center, which includes a 90,000-square-foot, two-building, Class A warehouse facility under construction at 851 Julia Street in Elizabeth, N.J., at Interchange 13A of the New Jersey Turnpike. The Elizabeth Logistics Center is located just five minutes from Port Newark/Elizabeth, the second largest seaport in the nation, and Newark Liberty International Airport.

JLL's David Knee, senior managing director and head of industrial brokerage in New Jersey; Christopher Hile, senior vice president; and Gary Politi, associate, brought Pilot Freight Services to the table for half of the under-construction property. The full-service global transportation and logistics company needed to be as close to Newark Liberty International Airport as possible, and 851 Julia Street was the only industrial facility near the airport that could provide Pilot Freight with the number of loading bays it required to service its customers. Pilot Freight signed a 10-year lease for 44,250 square feet at 851 Julia Street in late 2015, and the firm will move into the newly constructed building in late 2016.

Josh Avidan, president of The Avidan Group; and Dave Gibbons, president & CEO of Elberon Development, and Terry Armstrong, vice president of leasing and acquisitions for Elberon Development, represented the building owners in-house.

JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 1,000 professionals and support staff providing agency leasing and property marketing, tenant representation, industrial services, strategic consulting, occupancy planning, workplace strategies, project and development services, property and facility management, and investment sales/capital markets services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from three full-service offices in Parsippany, Iselin (Metropark) and East Rutherford, also acts as a local service provider for JLL’s global and national corporate clients in need of real estate assistance in New Jersey. JLL’s New Jersey operations were honored by NJBiz magazine as one of its 2015 Best Places to Work in New Jersey.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $58.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.