Industry Leaders Honored at Commercial Real Estate Awards Gala

By admin • May 26, 2009

NEWARK, N.J., May 26, 2009 – The New Jersey Chapter of NAIOP, the Commercial Real Estate Development Association, presented the 2009 Commercial Real Estate Awards at its Twenty-second Annual Gala held at the New Jersey Performing Arts Center in Newark.

David T. Houston, Jr., of Colliers Houston & Co., received the Lifetime Achievement Award. The Impact Awards were presented to Boston Properties and Harvey Schultz of The Schultz Organization. Timothy Comerford of Public Service Electric & Gas Company and Randall Stewart of Principal Financial Group received the Industry Service Awards. The Chairman’s Award was presented to the New Jersey Carpenter Contractor Trust in recognition of their support for public policy initiatives designed to keep New Jersey working.

The coveted Economic Impact Deal of the Year Award was presented to Cushman & Wakefield, Inc. for the sale of Pascack Valley Hospital, Westwood (a 280-bed, 425,000-square-foot facility plus three medical office buildings totaling 53,852 square feet) to Hackensack University Medical Center, thereby restoring emergency and mobile intensive care unit services to the region with the addition of outpatient radiology and laboratory services.

The Creative Deal of the Award went to Viridian Partners / Burlington Neck LLC for the repositioning, remediation and development of the former Hercules Chemical Site in Burlington Township. The deal involved the cleanup of a 131-acre former resins plant and future development of 1.7 million square feet of distribution warehouse space.

“We are proud to honor this group of outstanding and deserving industry leaders”, said NAIOP-NJ CEO Michael McGuinness.

The Twenty-second Annual Commercial Real Estate Awards Gala was chaired by Michael Seeve of Mountain Development Corp. and Gretchen Wilcox of Q10/G.S. Wilcox & Co. NAIOP New Jersey thanks the following Grand Sponsors for their generous support: Cushman & Wakefield, Inc., Jones Lang LaSalle, CMX, Public Service Electric & Gas Company, Elberon Development Co., Q/10 G.S. Wilcox & Co., Mountain Development Corp., Hollister Construction Services, Sax Macy Fromm & Co. PC, ProLogis, Russo Development, Advance Realty Group and the Port Authority of New York and New Jersey.