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NAIOP NJ Announces Deal of the Year Finalists

NEW BRUNSWICK—The New Jersey Chapter of NAIOP has named the finalists for its Deal of the Year Awards.

Three winners, one for Economic Impact, one for Creative Office, and one for Creative Industrial, will be revealed at the Twenty-fifth Annual Commercial Real Estate Awards Gala on Thursday, May 17, 2012 at The Palace at Somerset Park. Tickets are now on sale.

The finalists are, in their respective categories:

Economic Impact

*Panasonic Corporation of North America signed a milestone lease to move its U.S. headquarters to a new build-to-suit LEED Gold- certified office building in downtown Newark. Nominees: Hillary Budny, Matrix Development Group and Jeffrey Schotz , SJP Properties. Partners in the deal: Matrix Development Group; SJP Properties; and Newmark Knight Frank.

*Green Mountain Coffee Roasters (GMCR) required a distribution facility to service the Northeast. Kenco Logistics Services working with the CBRE team succeeded in finding a new warehouse/distribution center for GMCR's SF specific requirement. Nominee: CB Richard Ellis. Partners in the deal: CB Richard Ellis; Green Mountain Coffee Roasters; Kenco Logistics; and Principal Global Investors.

*Goya Foods' purchase of a 40-acre brownfield site in Jersey City, which will be transformed into a 631,000-sq.-ft. sustainable industrial property. Nominees: Cushman & Wakefield and The Rockefeller Group Development Corporation. Partners in the deal: Cushman & Wakefield; The Rockefeller Development Corp.; Goya Foods; Connell Foley; Sills Cummis & Gross; and Langan Engineering and Environmental Services.

Creative Office:

*Ivy Equities-LCOR secured a 15-year lease with Novo Nordisk for a 730,000-sq.-ft. office facility. Nominee: Ivy Equities. Partners in the Deal: Ivy Equities; LCOR Inc.; and Intercontinental Real Estate Company.

*Realogy Corporation will relocate its U.S. headquarters to 175 Park Avenue in Madison in a deal that will transform an obsolete office building into a LEED-certified facility. Nominee: The Hampshire Companies. Partners in the deal: The Hampshire Companies, Newmark Knight Frank, Realogy, Drinker Biddle & Reath, NJEDA, Kohn Pederson Fox, Tischman Construction.

Creative Industrial:

*KTR Capital Partners and Jones Lang LaSalle launched a marketing campaign for 3003 Woodbridge Avenue in Edison, targeting the largest data center users in the country, highlighting the site's power and fiber. I/O Data Centers selected the site to create the world's largest modular data center. Nominee: KTR Capital Partners. Partners in the Deal: KTR Capital Partners; Jones Lang LaSalle; and I/O Data Centers.

*Wakefern Food Corp. by Elberon Development Corp.: The deal saved 345 jobs in Elizabeth, will create an additional 350 jobs at the site over the next several years and will provide 140 temporary construction jobs from 2011 through 2013. Reuse of land, relocation of tenant, and then return of tenant to its original location will retain and create jobs in this urban area. A mix of private and public funds and incentives makes the deal economically effective. Nominee: Elberon Development Co., LLC. Partners in the Deal: Elberon Development Co. LLC ; Wakefern Food Corp.; and Langan Engineering and Environmental Services.

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