Industry Leaders, Top Deals Honored At NAIOP New Jersey Awards Gala
24th Annual Event Salutes Economic Impact, Creative Deal Making, Lifetime Achievement, and Industry Service.
- Newark, NJ (1888PressRelease) May 20, 2011 - The New Jersey Chapter of NAIOP, the commercial real estate development association, presented the 2011 Commercial Real Estate Awards at the organization's 24th Annual Gala at The Palace at Somerset Park. The event honored industry professionals and firms for their creative deal making, economic impact, and lifetime achievements.
"There were a record number of entries -19 - making this the most competitive Deal of the Year program that we've ever had," said Michael McGuinness, CEO of NAIOP New Jersey. "The winning deals truly demonstrate what the commercial real estate industry brings to New Jersey: jobs and economic growth opportunities. Having major foreign companies locate their headquarters here is a win for everyone in the Garden State."
Coveted Economic Impact Deal of the Year honors were accorded to LG Electronics, CB Richard Ellis and Piedmont Office Realty Trust for LG's new North American headquarters at 111 Sylvan Avenue in Englewood Cliffs, N.J., a sale and construction transaction that will create new construction jobs for up to three years and house upwards of 1,000 of the electronics giant's employees. Cited for their roles were Jeffrey Dunne, Kevin Welsh, David Opper, Cheryl Haedt, Robert Norton, John Oh, and Paul March of CB Richard Ellis; and Piedmont's Ray Owens, George Wells and Sharon Ward.
Creative Deal of the Year-Office honors were garnered by Cushman & Wakefield, Inc., Rockefeller Group Development, KPF, Gensler and Turner Construction, whose combined efforts are resulting in a new 325,000-square-foot North American headquarters for BASF in Florham Park, N.J. The 1,400-employee build-to-suit facility, constructed to LEED Platinum standards, will be the corporate anchor for The Green at Florham Park for Rockefeller Group. Cited for their roles were Robert Donnelly, Robert Donnelly, Jr. and Marc Rosenberg of Cushman & Wakefield, Inc.; Leslie E. Smith, Jr. and Clark Machemer of Rockefeller Group; Jamie Von Klemperer of KPF; Joseph Brancato of Gensler; and Thomas Reilly of Turner Construction.
The Creative Deal of the Year-Industrial Award honored Macy*s Parade Studio in Moonachie, N.J., a build-to-suit project that faced significant challenges including a tight schedule for completion and the need for a location within seven miles of the Lincoln Tunnel. Honored for one of the longest-term leases in the history of the Meadowlands submarket were William Waxman, Mindy Lissner, Carrie Brown and Nicholas Nitti of CB Richard Ellis; Todd Scheffler, Robin Erichsen, and John Piper of Macy*s; and Edward Russo and Michael Pembroke of Russo Development.
The Gateway Transit Village and Wellness Plaza in New Brunswick was accorded a special Meritorious Recognition Award by NAIOP New Jersey. Cited for their roles in the lease-and-sale transaction involving a sustainable urban development that will inject more than $235 million into the local economy while creating 3,000 construction and 450 permanent jobs were Christopher Paladino of the New Brunswick Development Corporation; Richard Barnhart of Penrose Properties; Mitch Karon of the New Brunswick Parking Authority; Antonio Calcado of Rutgers University; and Caren Franzini of the New Jersey EDA.
The Annual Commercial Real Estate Awards were presented during the prestigious event. Leslie E. Smith, Jr. of Rockefeller Group Development was presented with NAIOP New Jersey's Lifetime Achievement Award. Impact Awards recognizing firms for their ongoing achievements were bestowed on the J.G. Petrucci Co., Inc. and KTR Capital Partners. The Industry Service Award was presented to the law firm of Wolff & Samson. And the Chairman's Award honored CB Richard Ellis.
"All of these individuals and companies, with their accomplishments and achievements, continue to set the standard for everyone in commercial real estate," said McGuinness. "We are extremely pleased to be able to honor them on this special occasion."