When all the votes were counted, Newmark Knight Frank, now known as Newmark Grubb Knight Frank, won three top Deal of the Year awards at NAIOP New Jersey’s 25th Annual Commercial Real Estate Awards Gala. Additionally, the event at The Palace at Somerset honored the firm’s principal Seena Stein with NAIOP New Jersey’s Chairman’s Award.
“It is indeed a credit to all of our professionals who worked so hard to complete these very important and very complicated transactions,” said David Simson, vice chairman and COO of the firm’s New Jersey operations. “Our approach has always been to take each transaction, no matter how big or how small, carefully through every step, from inception to conclusion, ultimately for the benefit of our clients involved.”
Newmark Knight Frank’s efforts led by Tim Greiner garnered the Economic Impact Award for the firm’s representation of Panasonic Corporation in that company’s relocation of its U.S headquarters to downtown Newark, N.J. The result will be a new 338,000-square-foot, 12-story tower in Newark that will maintain 1,000 jobs in New Jersey and provide an estimated net economic benefit to the state of nearly $223 million over the next decade. Construction of the building is just underway by Matrix Development Group and SJP Properties.
“Panasonic’s new headquarters will also be LEED Gold certified,” said Simson. “LEED certification is paramount in all of our efforts.” The Economic Impact Award for the Panasonic headquarters was shared with Goya Foods’ purchase of a development parcel in Jersey City for construction of a new manufacturing facility on a 40-acre former brownfield site.
Two Newmark Knight Frank-orchestrated transactions tied for NAIOP New Jersey’s Creative Office Award. In the first, the firm, with a team led by Steve Tolkach, represented Novo Nordisk in its 15-year lease for a 730,000-square-foot office building in Princeton, N.J. The adaptive re-use project will create 250 construction jobs, result in 500 new permanent positions and retain 1,000 jobs for New Jersey. Serving as the Danish company’s new U.S. headquarters, the building is being reconstructed for LEED Silver certification.
In the second Creative Office Award orchestrated by Newmark Knight Frank, a Simson-led team represented Hampshire Companies, the ownership in the Realogy Corporation transaction, involving the relocation of its U.S. headquarters to 175 Park Avenue in Madison, N.J. The project will transform a functionally obsolete building into a modern 270,000-square-foot, LEED Silver-certified office building while maintaining 1,300 jobs in New Jersey. Realogy is a franchisor of such real estate brands as Better Homes & Gardens, Century 21, Coldwell Banker, The Corcoran Group, ERA, and Sotheby’s International.
The 2012 Chairman’s Award Honoree, Seena Stein, was cited as a true pioneer in New Jersey commercial real estate, from her role as a founding partner of Newmark Knight Frank’s New Jersey, to her professionalism as a creative dealmaker and her business acumen, and for forging the way for women in commercial real estate. In the latter role, she has long been a trusted and sought-after advisor for women in the industry.
“We are also very proud of Seena Stein for being honored with the Chairman’s Award,” said Simson. “Throughout her established career, Seena has indeed been a pace-setter and a credit to our profession, and is commended for her commitment to integrity, honesty and dedication to her clients.”
About Newmark Grubb Knight Frank
A part of BGC Partners, Inc. (NASDAQ:BGCP), Newmark Grubb Knight Frank is one of the largest commercial real estate service firms in the U.S. It brings together the strategic consultative approach to creating value for clients and leading position in the New York market that are hallmarks of Newmark Knight Frank; the complementary strengths of Grubb & Ellis in leasing and management, investment sales, valuation and capital markets services; and BGC’s financial strength, proprietary technology, expertise in global capital markets and deep relationships with many of the world’s leading financial institutions.
Newmark Grubb Knight Frank and its London-based partner Knight Frank together operate from more than 300 offices in established and emerging property markets on five continents. This major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide.