Winners To Be Revealed at 22nd Annual Awards Gala On May 14
 
NEW BRUNSWICK, N.J., April 8, 2009 – The finalists for the highly coveted “Deal of the Year Awards” have been announced by the New Jersey Chapter of NAIOP, the Commercial Real Estate Development Association. Two winners, one for creativity and one for economic impact, will be revealed at the 22nd Annual Commercial Real Estate Awards Gala on Thursday, May 14, 2009 at the New Jersey Performing Arts Center in Newark.
 
The finalists are:
·        CB Richard Ellis, Inc. on behalf of JP Morgan Investment Management and KBS Realty Advisors for the $363 million sale of Park Avenue at Morris County, a six-building, $1.12 million-square-foot portfolio with trophy finishes, amenities and an investment grade tenancy.
·        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.
·        Cushman & Wakefield, Inc. for the sale of FMC Campus, Plainsboro to Princeton HealthCare System. The 160-acre FMC campus with its 27 buildings totaling 566,000 square feet of space is to be redeveloped at the University Medical Center of Princeton at Plainsboro. The former FMC campus, upon buildout, will support 4,800 full-time jobs. The deal also involved FMC leasing two buildings totaling 125,000 square feet of space and New Jersey retaining 200 employees for relocation to Ewing Township.
·        Eastman Companies, HFF and The Garibaldi Group for the lease and recapitalization of debt and equity of the Eisenhower Corporate Campus, Livingston, as part of the repositioning of the 384,828-square-foot building from a single tenant corporate headquarters into a multi-tenanted Class A office complex.
·        Viridian Partners / Burlington Neck LLC for the repositioning, remediation and development of the former Hercules Chemical Site, Burlington Township in cooperation with Wolff & Samson, Langan Engineering, TetraTech, Taylor Wiseman Taylor, R.E. Pierson Construction, Burlington Township, Burlington County, the New Jersey Department of Environmental Protection and the United States Environmental Protection Agency. This deal involved the cleanup of a 131-acre former resins plant and future development of 1.7 million square feet of distribution warehouse space.
 
The Deal of the Year nominees were judged by: Dr. James Hughes, Dean of the Edward J. Bloustein School of Planning & Public Policy at Rutgers University; Dr. Joel Naroff of Naroff Economic Advisors; Dianne R. Brake, President of PlanSmart New Jersey; Edward A. Glickman, Adjunct Professor of Finance at the New York University School of Business and President and COO of the Pennsylvania Real Estate Investment Trust; and Douglas Howe, Chairman of NAIOP and Chief Executive Officer of Touchstone Corporation.
 
NJ-NAIOP’s Gala has been deemed one of the top networking events of the year in New Jersey. David T. Houston, Jr., of Colliers Houston & Co., will receive the Lifetime Achievement Award. The Impact Awards will be 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 will receive the Industry Service Awards. The Chairman’s Award will be presented to the New Jersey Carpenter Contractor Trust in recognition of their support for public policy initiatives designed to keep New Jersey working, including the Permit Extension Act and affordable housing funding reform.
 
The event will begin at 6 p.m. with a Welcome Reception, followed by the Awards Ceremony and then the Grand Reception. Gretchen Wilcox of G.S. Wilcox & Co. and Michael Seeve of Mountain Development Corp. are co-chairs of the Gala. For tickets, commemorative journal pages and sponsorship opportunities, please contact Bonnie Sovinee at 732-729-9900 (sovinee@njnaiop.org).