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Deal of the Year Winners

NAIOP NJ congratulates the finalists for this year's Deal of the Year Awards.

Economic Impact (tie)

Panasonic Corporation of North America's new US HQ           

Panasonic Corporation of North America signed a milestone lease to move its US Headquarters to a new build-to-suit LEED Gold Certified office building in downtown Newark that will maintain approx. 1000 jobs in New Jersey, and is estimated to generate a net positive benefit for the state of $222.8 Million over the next 11.25 years.

Nominees: Matrix Development Group and SJP Properties

Partners in the deal: Matrix Development Group; SJP Properties; Newmark Knight Frank, Panasonic Corporation of North America, NJ EDA and Biggins Lacy Shapiro & Company.          

Goya Foods Purchase of Jersey City Development Parcel       

Goya Foods' purchase of a 40-acre brownfield site in Jersey City - to be transformed into 631,000 SF sustainable industry property- secured the company's roles an important long-time member of New Jersey's manufacturing community. This acquisition translates into more than 500 existing local jobs and nearly 82 new positions being maintained and moved into New Jersey.

Nominees: Cushman & Wakefield and The Rockefeller Group Development Corp.      

Partners in the deal: Cushman & Wakefield; The Rockefeller Group Development Corp.; Goya Foods; Connell Foley; Sills Cummis & Gross; Langan Engineering and Environmental Services, NJ EDA.

Creative Office (tie)

US Headquarters - Novo Nordisk         

Ivy Equities-LCOR secured a 15-year lease with Novo Nordisk for a 730,000 SF office facility. The project created 250 union construction jobs through April 2013, and 500 new permanent jobs. It retains 1000 existing jobs in New Jersey. It is an adaptive re-use strategy by the partnership, committed to a Silver LEED certification.          

Nominee: Ivy Equities  

Partners in the Deal: Ivy Equities; LCOR Inc.; Intercontinental Real Estate Company; HFF, LP, Newmark Knight Frank, Cushman & Wakefield.

Realogy Corporation US HQ    

Realogy Corporation will relocate its U.S. Headquarters to 175 Park Avenue in Madison in a deal that will transform a functionally obsolete office building into a LEED Silver Certified, modern facility that will raise the standard for a Class A office design and maintain 1,300 jobs in New Jersey.         

Nominee: The Hampshire Companies 

Partners in the Deal: The Hampshire Companies, Newmark Knight Frank, Realogy, Drinker Biddle & Reath, NJEDA, Kohn Pederson Fox, Tishman Construction.

Creative Industrial

Wakefern Food Corp. by Elberon Development Corp.  

Saved 345 jobs in Elizabeth. Will create an additional350 jobs at site in next several years. Will provide 140 temporary construction jobs in 2011through 2013. All this will help economic recovery from the recent deep-seated recession. Re-use of land, relocation of tenant, and then return of tenant to its original location, thereby retaining old and creating new jobs in urban area. Mix of private and public funds and incentives to make deal economically effective.        

Nominee: Elberon Development Co., LLC

Partners in the Deal: Elberon Development Co., LLC ; Wakefern Food Corp.; Langan Engineering and Environmental Services.

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