Page 11 - midJersey Business - July/August 2015

{Real Estate}
HR + RECRUITMENT

STILL STRONG
Pressing

Questions
T
Che Exit 8A industrial market remains formidable

Here’s what some

ushman & Wakeield or- “Bolstered by the market’s location successful companies
chestrated the trade of 1 and halfway between New York City and
are asking job seekers
7 Costco Drive in Monroe Philadelphia—and resulting immediate
Township from Principal access to 130 million consumers—the re- A

Real Estate Investors to gion has experienced positive net absorp- ccording to Glassdoor, these

Heitman LLC. Constructed
tion averaging 1.5 million square feet over are some of the oddest ques-
in 2007, the 1.2 million-square-foot, the past 14 years,” Gabriel says. “Today, tions employers have asked

warehouse/distribution asset sits in the low vacancy rates and virtually nonexis- job candidates in interviews.
heart of the New Jersey Turnpike Exit 8A tent available large blocks are combining What are you asking recruits? And

industrial market.
with future supply constraints to push how would you answer some of these
“This transaction is the irst widely rental growth. As a second generation of questions?

marketed sale at Exit 8A in some time,” investors begins to move into the region,
says Gary Gabriel of Cushman & Wake- they will be well positioned to capitalize
n“What would you do if you were the
ield’s Metropolitan Area Capital Markets in strengthening market fundamentals.”
one survivor in a plane crash?”
Group, who headed the assignment with Based in East Rutherford, Cushman &
— Airbnb
team members Andrew
Merin, David Bernhaut, n“What’s your favorite 90s jam?”
— Squarespace
Brian Whitmer, Kyle Nine industrial blocks
Schmidt, and industrial “If you woke up and had 2,000
exceeding 100,000 n
specialist Jules Nissim. unread emails and could only answer
“We conducted 25
square feet came online in 300 of them how would you choose

tours and entertained recent months, including which ones to answer?”
signiicant bidding inter- — Dropbox
ive within the Exit 8A
est, relecting investor
strong appetite for one submarket. New Jersey n“Who would win in a ight between
Spiderman and Batman?”
of New Jersey’s most recorded positive net
sought-after industrial — Stanford University
absorption for the ninth
submarkets.”
n“If you had a machine that produced
According to Schmidt,
consecutive quarter, with $100 dollars for life what would you

the Costco Drive of-
overall occupancy gains be willing to pay for it today?”
— Aksia
ferings represented an
exceeding 2.1 million
opportunity to acquire
“What did you have for breakfast?”
square feet for the seventh n
two fully leased, best-in-
— Banana Republic
class industrial buildings
consecutive quarter.
n“Describe the color yellow to some-
in New Jersey’s highly
body who’s blind.”
desirable 8A market. The
— Spirit Airlines
structures feature 36-foot
clear heights, 145- and 130-foot truck Wakeield’s Metropolitan Area Capital “If you were asked to unload a 747 full
n
courts, ample parking and trailer storage, Markets Group specializes exclusively of jelly beans, what would you do?”
and ESFR sprinkler systems. The proper- in investment sales of oice, indus-
— Bose

ty was brought to 100 percent occupancy trial, multi-family, and retail properties “How many people lew out of
last year with a 611,000-square-foot, throughout New Jersey, New York, Fair- n
Chicago last year?”
Cushman & Wakeield-brokered lease to ield County, Connecticut, Pennsylvania, — Redbox
Ozburn-Hessey Logistics. Other tenants and Delaware. The team has completed
“What’s your favorite Disney
include CJ Foods, L.A. Enterprises, and more than $17 billion worth of transac- n
Standard Register.
tions since 2000.
Princess?”
— Cold Stone Creamery

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