2858 route 322, LOGAN TOWNSHIP, NJ offering memorandum
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Transcript of 2858 route 322, LOGAN TOWNSHIP, NJ offering memorandum
295
295322
322
130
2858 ROUTE 322, LOGAN TWP.GLOUCESTER COUNTY, BRIDGEPORT, NJ
±415 ACRE INDUSTRIAL SITE
EXIT 11
Commodore Barry Bridge
CUSHM AN & WAK EFIEL D2
DISCLAIMER
THIS IS A CONFIDENTIAL MEMORANDUM intended solely for your limited use to determine whether you wish to express an interest in the purchase of 2858 Route 322, Logan Township, New Jersey as more particularly described herein (the “Property”). This confidential memorandum contains brief, selected information pertaining to the business affairs of the Property’s owner (“Owner”) and has been prepared by Cushman & Wakefield, the Owner’s exclusive agent, primarily from information supplied by the Owner. Although representatives of the Owner have reviewed this confidential memorandum, it does not purport to be all-inclusive or contain all of the information that a potential investor may desire. Neither the Owner, nor any of its affiliates, members, officers, directors, employees or agents, nor Cushman & Wakefield make any representation or warranty, expressed or implied, as to the accuracy or completeness of any of the information contained herein. Each of the Owner and Cushman & Wakefield disclaims any liability which may be based on such information, errors therein or omissions from there. All financial data contained herein is unaudited. The projections and pro-forma information contained herein represent estimates based on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that the actual results will conform to such projections. There is no representation as to environmental conditions of the Property, or as to any other aspect of the Property. By your receipt of this confidential memorandum, you agree that this memorandum and the information contained herein are of a confidential nature and that you will hold and treat them in the strictest of confidence and that you will not, directly or indirectly, disclose or permit anyone else to disclose this memorandum or any part of the contents in any fashion or manner detrimental to the interests of the Owner. Further, you agree not to discuss this memorandum with any other institution, potential investor or tenant without the express permission of Cushman & Wakefield and the Owner. Upon request, the recipient will promptly return this confidential memorandum and any other material received from the Owner or Cushman & Wakefield without retaining any copies thereof. This confidential memorandum shall not be deemed an indication of the state of affairs of the Owner or constitute an indication that there has been no change in the business or affairs of the Owner since the date of preparation of this memorandum. Neither the Owner nor Cushman & Wakefield undertakes any obligation to provide additional information or to correct or update any of the information contained in this confidential memorandum.
For more information, please contact one of the following individuals:
Matthew MarshallManaging Director610 574 [email protected]
Jeffrey WilliamsManaging Director215 284 [email protected]
Timothy CahillVice President312 424 [email protected]
Andrew HoustonVice President973 769 [email protected]
3285 8 RO U T E 32 2 , LO GAN TOWNSHIP, N E W J ER SE Y
TABLE OF CONTENTS
Executive Summary ..............................................................................4
Location Map .........................................................................................5
Offering Highlights ...............................................................................6
Site Plan ..................................................................................................8
Regional Demographics .................................................................... 14
Comparable Transactions ................................................................. 16
Zoning .................................................................................................... 18
Transaction Guidelines ...................................................................... 19
CUSHM AN & WAK EFIEL D4
EXECUTIVE SUMMARY
Cushman & Wakefield is pleased to offer for sale the 100 percent fee simple interest in Logan North Industrial Park (the “Property”). Logan North Industrial Park is located at the southwest corner of Interstate 295 and U.S. Route 322 in Logan Township, Gloucester County, New Jersey. Logan North represents an exceedingly rare opportunity for investors to acquire a scalable industrial park of in one of the world’s premier industrial markets. Logan North is strategically located between New York City and Washington DC, boasts direct access to 295 and easy access to the New Jersey Turnpike. 40% of the United States population can be reached within a one day drive. The site totals 414.79 acres and can potentially yield in excess of 3 million square feet. The site is serviced by all the necessary utilities including CSX rail. Logan North will represent to investor the kind of opportunity that comes along once in a career.
AS IS PROPERTY SUMMARY
Address 2858 Route 322, Logan Township, NJ
Submarket Gloucester County
Acreage ±415
Zoning RCC(Route 322 Corridor Commercial)
Rail SMS-Shortline/CSX, NS-Class I
PROPOSED PROPERTY SUMMARY
Project Name Logan North Industrial Park
Potential Buildable SF 2,968,500
Class A/Core
Buildings 12
Usable Acres ±215 Uplands AC
295
322
130324
EXIT 11
5285 8 RO U T E 32 2 , LO GAN TOWNSHIP, N E W J ER SE Y
202
322
130
46
20611
422
209
30
301
9
222
13
113
5030150
76Philadelphia
Manhattan
Newark
Washington D.C.
Port of Baltimore
95
295
78
476
81
Maryland
Pennsylvania New Jersey
Delaware
Pottsville
Sunbury
Hazleton
Wilkes-Barre
GlassboroWilmington
Vineland
La Plata
Georgetown
Towson
Stroudsburg
Laporte
Milford
Allentown
Newark
Stamford
Elizabeth
StatenIsland
Middletown
Long Branch
Toms River
Brick
Howell
Old Bridge
Brooklyn
Lancaster
Camden
Reading
Bethlehem
Scranton
New York City109 Miles
Port of Philadelphia20 Miles
Port of Baltimore88 Miles
Washington D.C.105 Miles
Ports of Newark/Elizabeth
100 Miles
REGIONAL LOCATION MAPLogan North Offers a Superior Highway Network
CUSHM AN & WAK EFIEL D6
OFFERING HIGHLIGHTSStrategic Location
Logan North Industrial Park is strategically located directly off exit 11 of interstate 295. Located 90 Miles from New York City, 15 Miles from Philadelphia and 105 miles from Washington DC, Logan North is strategically located at the heart of United States’ most important consumer base. These attributes combine to make the Southern New Jersey industrial market a must consider location for firms opening or relocating any North East distribution center.
Exceptional Core Market – High Demand
Logan North is positioned in the Southern New Jersey industrial market comprised of the Burlington, Gloucester, Camden and Salem counties. The Class A segment in this market boasts a nominal vacancy rate and build to suit projects are becoming the standard solution for firms sourcing facilities greater than 400,000 SF. Since the beginning of 2014 there have been 10 such transactions in SNJ totaling 3,747,936 SF (see comparable lease transactions on page 16).
This dynamic has driven base rents to three years of straight year over year increases in excess of 5% per annum. This kind of rent growth is demanding the attention of institutional capital.
Zoning District
With a Zoning classification of RCC (Route 322 Corridor Commercial) by Logan Township the site can accommodate a multitude of business allowing a Developer to create a truly unique multi use project. Allowable uses including Warehouse, Distribution, Office, Retail, including restaurants, Banks, Hotels, etc.
Proximity to Ports and Major Transportation Infrastructure
Logan North’s infrastructure access is second to none. The property has direct access to 295. It is proximate to three major deep water ports, 15 Miles from the Port of Philadelphia, 93 Miles from the Ports of Newark and Elizabeth and 88 Miles from the Port of Baltimore. Additionally, the site is serviced by two Class 1 railroad, Norfolk Southern and CSX. The triple
Port Newark-Elizabeth Marine Terminal Port of Philadelphia
7285 8 RO U T E 32 2 , LO GAN TOWNSHIP, N E W J ER SE Y
threat of road, rail and water access will make Logan North a must consider location for any user utilizing multi-modal transportation.
Robust Economic Incentives
Created by the Economic Opportunity Act of 2013 and broadened by the Economic Opportunity Act of 2014, GrowNJ is New Jersey’s incentive program that attracts and retains corporations through annual tax credits. It is overseen by the New Jersey Economic Development Authority (NJEDA). In order to qualify for the tax credits a project must be located in a qualified area, be in need of financial support, and demonstrate that the award is crucial to the applicant’s decision to remain in or relocate to New Jersey. The base grant for award is calculated according to three thresholds: jobs, capital investment and net benefit.
� Create at least 35 jobs and/or retain 50 jobs(1)
� Make or acquire a capital investment of at least $60 per square foot for new industrial development(1)
� Yield a positive net benefit to the state � Maintain 80% of project and statewide
employment for 1.5x the term of the credit
Bridgeport/Logan Township
Logan Township qualifies as a Priority Area, which provides companies with base grant of $3,000 per year, per new job created, for a term of 10 years. Retained jobs would be entitle to 50% of the new-employee base grant amount. In addition to base grant, projects may qualify for additional bonus grants. There are more than a dozen bonuses that applicants may be eligible for.(1) Job and Investment thresholds for Gloucester County and 12 other Southern NJ counties is lower than the rest of the state
Delaware River295
295
130
130
322
322
N
Commodore John Barry Bridge
Exit 14Exit 13
Exit 11
Exit 10
Exit 15
2858 Route 322, Logan Twp.Bridgeport,NJ
CUSHM AN & WAK EFIEL D10
ROUTE 322
ROUTE 295
CLEANHARBORS
RA
CC
OO
N
CR E E
K
CO
NR
AIL
F420,000 SF
1000 X 420
G275,000 SF
400 X 688
HIGHWAYCOMMERCIAL
23,500 SFRESTAURANTS
RAIL LINEEXTENSION
A210,000
SF700 X 307
B450,000 SF
750 X 600
D162,000
SF600 X 270
C200,000 SF
600 X 355
E200,000 SF
600 X 335
H1,026,000 SF
1655 X 620
130 ft60 ft
60 ft 70 ft
61 ft
190 ft
50 ft50 ft
250 ft
310.0000
NJ CERTIFICATE OF AUTHORIZATION NO. 24GA28032900
124 GAITHERS DRIVE, SUITE 150, MOUNT LAUREL, N.J. 08054TELEPHONE: (856) 235-7200 FAX: (856) 722-9250
www.taylorwiseman.com
ENGINEERS SURVEYORS SCIENTISTS//
SCALE: 1"=200-0"
AUGUST 24, 2015
LOGAN NORTH INDUSTRIAL PARK2858 NJSH ROUTE 322, LOGAN TOWNSHIP, NEW JERSEY
CONCEPTUAL LAND PLAN
PROJECT NO. 06143REV.9/1/15
CONCEPTUAL LAND PLAN
SITE DATAExisting Property Information
Block 1501 Lots 3 & 5W; Block 1502, Lots 1, 2, 4, 5Q, 6, 6Q, 7, 8, 9Q, 10Q, & 12Q; Block 1503, Lots 1Q & 5Q Lot 49, Logan Twp., NJ
Tract Size 400 ± AcresSite found within district: RCC Route 322 Corridor Commercial. LI Light Industrial bulk standards to
apply.Proposed Project - Warehouse & Restaurants
Environmental ImpactsNJDEP Freshwater Wetlands: Waterfront Development: Tidal Flood Hazard: 100 Yr FEMA Floodline:
Riparian Claim Line:ZONE DISTRICT REGULATIONS PER THE LIGHT INDUSTRIAL AS DIRECTED (SECTION 7B.)
Description RequiredLot Size 5 Acres
Lot Width 500 FTFrontage 300 FT
Front Yard 150 FTSide Yard 75 FTRear Yard 150 FT
Lot Coverage 75%Building Coverage 60%
Max. Building Height 45 FTBuffer Along NJSH Route 322 40 FT
DESIGN STANDARDSRight of Way Width 60 FT
Cartway Width 30 FTRailroad Extension Easement 30 FT
Parking Lot Aisle Width 25 FTParking Stall Size 9 FT x 18 FT
Loading Dock 15 x 60Loading Aisle Width 70 FT
Truck Aisle Width 30 FTTrailer Space Size 12 FT x 60 FT
WAREHOUSE BUILDING DATATotal Building Yield 2,943,000 SFTotal Loading Dock 515 Loading DocksTotal Trailer Spaces 840 Spaces
Total Car Parking 1,260 Spaces
11285 8 RO U T E 32 2 , LO GAN TOWNSHIP, N E W J ER SE Y
ROUTE 322
ROUTE 295
CLEANHARBORS
RA
CC
OO
N
CR E E
K
CO
NR
AIL
F420,000 SF
1000 X 420
G275,000 SF
400 X 688
HIGHWAYCOMMERCIAL
23,500 SFRESTAURANTS
RAIL LINEEXTENSION
A210,000
SF700 X 307
B450,000 SF
750 X 600
D162,000
SF600 X 270
C200,000 SF
600 X 355
E200,000 SF
600 X 335
H1,026,000 SF
1655 X 620
130 ft60 ft
60 ft 70 ft
61 ft
190 ft
50 ft50 ft
250 ft
310.0000
NJ CERTIFICATE OF AUTHORIZATION NO. 24GA28032900
124 GAITHERS DRIVE, SUITE 150, MOUNT LAUREL, N.J. 08054TELEPHONE: (856) 235-7200 FAX: (856) 722-9250
www.taylorwiseman.com
ENGINEERS SURVEYORS SCIENTISTS//
SCALE: 1"=200-0"
AUGUST 24, 2015
LOGAN NORTH INDUSTRIAL PARK2858 NJSH ROUTE 322, LOGAN TOWNSHIP, NEW JERSEY
CONCEPTUAL LAND PLAN
PROJECT NO. 06143REV.9/1/15
BUILDING TOTAL SF WAREHOUSE OFFICE LOADING TRAILER SPACES
CAR PARKING
A 210,000 205,800 4,000 36 46 60
B 450,000 441,000 9,000 74 172 220
C 200,000 196,000 4,000 33 26 120
D 162,000 158,760 3,400 54 33 100
E 200,000 196,000 4,000 33 45 110
F 420,000 411,600 8,400 54 71 200
G 275,000 269,500 5,500 36 54 130
H 1,026,000 1,005480 20,520 192 393 320
CUSHM AN & WAK EFIEL D12
THE GROWTH OF GLOUCESTER COUNTY’S INDUSTRIAL MARKET1997± 5.95M SF of Total Industrial Inventory
Commodore 295 Industrial Park
PurelandIndustrial Park
Logan NorthIndustrial Park
LogistiCenterat Logan
EXIT 7
Today± 11.25M SF of Industrial Inventory with ±2M under construction
EXIT 7
Commodore 295 Industrial Park
PurelandIndustrial Park
Logan NorthIndustrial Park
LogistiCenterat Logan
EXIT 10
EXIT 10
EXIT 11
EXIT 11 295
295
295
295
322
322
130
130
N
N
13285 8 RO U T E 32 2 , LO GAN TOWNSHIP, N E W J ER SE Y
2010± 9.65M SF of Total Industrial Inventory
EXIT 7
Commodore 295 Industrial Park
PurelandIndustrial Park
Logan NorthIndustrial Park
LogistiCenterat Logan
2006± 8.75M SF of Total Industrial Inventory
EXIT 7EXIT 10
EXIT 10
EXIT 11
EXIT 11
Commodore 295 Industrial Park
PurelandIndustrial Park
Logan NorthIndustrial Park
LogistiCenterat Logan
295
295
295
295
322
322
130
130
N
N
CUSHM AN & WAK EFIEL D14
SITE DEMOGRAPHICS
Drive Times 10 min 20 min 30 min
Summary
Population 44,052 460,589 1,713,840
Households 16,001 178,102 672,309
Median Age 36.1 40.7 38.8
Household Income
<$15,000 3,109 17,320 86,556
$15,000-$24,999 1,328 13,320 58,556
$25,000-$34,999 1,449 15,856 65,948
$35,000-$49,999 1,755 21,779 89,731
$50,000-$74,999 2,140 29,450 108,335
$75,000-$99,999 2,075 25,970 86,098
$100,000-$149,999 2,430 28,683 93,521
$150,000-$199,999 1,087 14,095 43,390
$200,000+ 627 10,191 40,656
Averages
Median Household Income
$53,102 $65,030 $56,339
Average Household Income
$82,337 $85,448 $80,322
Per Capita Income $26,131 $32,940 $31,709
REGIONAL DEMOGRAPHICSRobust Economic Conditions Further Driving DemandThe Logan North Industrial Park Development Site is poised to benefit from the following impactful economic drivers:
E-COMMERCE: The global shift toward electronic commerce versus standard retail purchasing is set to benefit the industrial market tremendously, if it has not already. E-Commerce had been averaging 10% annually in sales growth throughout much of the past decade, but these numbers have skyrocketed in recent years.
BUSINESS INCENTIVES: The Logan North Industrial Park Development Site’s location provides the project with a rare combination of incentive programs for an industrial site in New Jersey. Some of these programs include Grow New Jersey, Foreign Trade Zone, Economic Redevelopment Grant and Urban Enterprise Zone. These incentive programs will provide the Property’s prospective purchaser with a leasing advantage over the competitive set and enhancements in cash flow.
DRIVE TIME MAP
15285 8 RO U T E 32 2 , LO GAN TOWNSHIP, N E W J ER SE Y
SUPERIOR LOCATIONStrong Distribution BaseThe Property is located in New Jersey, the most densely populated state in the country (1,189 persons per square mile) and consists of 11 counties with a population of over six million people. These consumers represent the highest income earners in the U.S.
Atlantic Ocean
Virginia
Maryland
Delaware
New Jersey
Rhode IslandConnecticut
Pennsylvania
Massachusetts
New York
50 Mile Radius
100 Mile Radius
200 Mile Radius15%OF THE U.S. POPULATIONLIVES WITHIN 200 MILESOF THE PROPERTY
CUSHM AN & WAK EFIEL D16
Comparable Lease Transactions (2014–Present)
ADDRESS COUNTY LANDLORD TENANT SIZE STARTING YEAR TERM RENT/SF/YR INCREASES
2020 Route 130, Burlington Burlington NFI Industries Subaru 526,050 SF 2015 10 Yrs. $4.75 2%
2020 Route 130, Burlington
Burlington NFI Industries Subaru Expansion
175,000 SF 2015 10 Yrs. $5.25 $.10
1600 River Road, Burlington
Burlington Clarion Partners H&M 545,537 SF 2015 10 Yrs $4.43 2%
2277 Center Square Rd, Swedesboro
Gloucester Liberty Property Trust
Amazon 202,908 SF 2015 10 Yrs. $4.35 1.5%
11 Technology Dr., Bridgeport
Gloucester Liberty Property Trust
La Brea Bakery 101,400 SF 2015 9 Yrs. $5.85 2.5%
21 Gateway Blvd., Pedricktown
Salem NFI Industries Five Below 750,000 SF 2014 10 Yrs. $4.30 2%
250 Daniels Way, Burlington
Gloucester Whitesell Construction Co.
Burlington Coat 700,000 SF 2014 12 Yrs. $4.50 $.15
1000 John Galt Way, Burlington Burlington Whitesell
Construction Co.Destination Maternity 406,375 SF 2014 15 Yrs. $5.55 2%
1110 Commerce Blvd., Logan
Gloucester N/A Penske Corp. 124,800 SF 2015 N/A $4.75 N/A
1130 Commerce Blvd.,Swedesboro
Gloucester Duke Realty USPS 215,866 SF 2014 5 Yrs. $4.50 N/A
1100 John Galt Way,Burlington
Burlington Whitesell Construction Co. HD Supply 518,398 SF 2015 7 Yrs. $4.55 $.10
Comparable Building Sale Transactions (2013–Present)
ADDRESS COUNTY BUYER SELLER SIZE PRICE PRICE/SF LAND AREA
6 Campus Dr., Burlington
Burlington STAG Industrial Alan Hirsch 500,000 SF $34,883,000 $70.00 60.00 Acres
2900 Cindel Dr., Riverton
Burlington Gramercy Property Trust Cindel Drive Associates 463,000 SF $27,060,000 $58.00 28.63 Acres
1109 Commerce Blvd., Swedesboro
Gloucester RREEF Property Trust
JV - Dermody Properties, Great Point Investors
259,910 SF $19,750,000 $76.00 14.40 Acres
5 Commerce Dr., Barrington
Camden Pure Industrial Scannell Properties 259,227 SF $20,584,514 $79.00 24.88 Acres
4 E. Stow Rd., Marlton
Burlington Plymouth Industrial CD Realty Advisors 156,643 SF $9,700,000 $62.00 14.54 Acres
401 Bordentown Heading Rd., Bordentown
Burlington Colony Financial JV - Hayden, Miller Investments
142,000 SF $9,600,000 $67.00 39.17 Acres
1705 Suckle Hwy., Pennsauken Camden Puratos Corporation Whitesell Construction 57,894 SF $4,631,620 $80.00 3.55 Acres
17285 8 RO U T E 32 2 , LO GAN TOWNSHIP, N E W J ER SE Y
Comparable Land Sale TransactionsEntitled land with utilities to site (2010–Present)
ADDRESS SELLER BUYER ACREAGE APPROVED BUILDING SIZE TOTAL PRICE PRICE PER FAR
Bordentown Hedding Rd.Bordentown, NJ
Rockerfeller Group Grainger 96.00 1,300,000 $21,683,000 $16.65
309 Cedar LaneFlorence, NJ
Covington Group Liberty Property Trust 50.50 613,920 SF $10,500,000 $17.10
401 Bordentown Hedding Rd., Bordentown, NJ*
Central Crossing Business Park Exeter Property Group 78.44 853,160 SF $6,950,000 $8.14
Whittendale DriveMoorestown, NJ
C&L Packaging, Inc. LAKN Marlton Associates, LP
5.58 80,000 SF $700,000 $8.75
Heron DrivePureland Industrial Park Logan Township, NJ
Center Square Land Schar USA 7.90 80,000 SF $725,000 $9.06
1 Industrial WayGateway Business ParkPedricktown, NJ
Matrix Development Group Goya Foods 16.80 203,000 SF $1,877,750 $9.25
Gateway BoulevardGateway Business ParkPedricktown, NJ
Matrix Development Group National Freight 70.00 1,045,920 SF $9,369,000 $9.00
Gateway BoulevardGateway Business ParkPedricktown, NJ
Salem County LLC Gateway Park Urban Renewal Assoc. 52.00 705,901 SF $7,404,000 $10.49
Commerce BoulevardLogan Township, NJ DP Partners-Logan, LLC
Michael and Kimberly Williams (KMT Logistics)
14.00 174,000 SF $1,850,000 $10.63
100 Highland DriveWestampton, NJ
Dolan Contractors The Camuto Group (VCS) 17.00 211,159 SF $1,870,000 $7.48
1 Gateway BoulevardGateway Business ParkPedricktown, NJ
Matrix Development Group Berkowitz Glass 22.39 200,000 SF $1,800,000 $9.00
3 Gateway BoulevardGateway Business ParkPedricktown, NJ
Matrix Development GroupGarden State Freezer (Mullica Hill Group)
21.39 126,000 SF $1,500,000 $11.70
180 Dultys LaneBurlington Township, NJ
180 Dultys Lane LLC Colfer Enterprises, LLC 11.52 150,000 SF $1,200,000 $9.33
117 Crown Point Road, West Deptford, NJ Dolan Contractors Exeter Property Group 15.45 184,000 SF $2,015,000 $10.95
TOTAL4,459,980 SF
TOTAL $51,993,750
AVERAGE$11.66
*Partially entitled land
“INVENTORY TO WATCH”ADDRESS COUNTY LANDLORD RBA AVAILABLE RENT/SF/YR LAND AREA DELIVERING
1620 River Rd., Burlington Burlington Clarion Partners 477,736 SF 477,736 SF Withheld 128.34 AC 10/2015
1640 River Rd., Burlington Burlington Clarion Partners 173,733 SF 173,333 SF Withheld 128.34 AC 9/2015
15 Campus Dr., Burlington Burlington Exeter Property Group 180,000 SF 180,000 SF Withheld 13.56 AC 12/2015
400 Arlington Blvd., Swedesboro Gloucester Liberty Property Trust 210,600 SF 210,600 SF $4.85 44.96 AC 11/2015
1110 Commerce Blvd., Logan Twp. Gloucester Dermody Properties 171,600 SF 46,800 SF $4.75 10.40 AC 8/2015
Gateway Business Park Salem Matrix Development Group
750,901 SF 705,901 SF Withheld 284 .00 AC 12/2015
Gateway Business Park Salem Matrix Development Group
263,538 SF 263,538 SF Withheld 284 .00 AC 12/2015
CUSHM AN & WAK EFIEL D18
LOGAN TOWNSHIP ZONING MAP
Logan Township’s Premier Zoning DistrictRCC (Route 322 Corridor Commercial)
Permitted Principal Uses:
a. Warehouse distribution centersb. Retail, including restaurantsc. Office uses, including general business, medical
and dentald. Banks and financial institutionse. Office/commerce parking, including high
technology parks
f. Indoor performing arts theaterg. Indoor recreation facilityh. Planned commercial developmenti. Hotels and Hotels/Conference Center
RCCZONE
19285 8 RO U T E 32 2 , LO GAN TOWNSHIP, N E W J ER SE Y
TRANSACTION GUIDLINESThe Property is being offered for sale to qualified investors on an “as is” basis, subject to the Confidentiality Agreement of this Memorandum. In its evaluations of offers, Ownership will take into consideration a variety of factors, including, but not limited to: price, terms, and the amount of due diligence a prospective purchaser requires.
Due Diligence Virtual Deal RoomInvestors will receive secure access to an online Virtual Deal Room upon execution of the Confidentiality Agreement. Documents within the Virtual Deal Room include property level information as well as an electronic form of the Offering Memorandum.
ToursTours will be arranged on an as needed basis. Please call to arrange a tour.
DebtNone. The Property will be delivered free and clear of any mortgage indebtedness.
Form of ProposalsProspective investors will be required to submit in writing a detailed, non-binding proposal for the Property (“Proposal”). Investors acknowledge they have reviewed the environmental summary and all due diligence materials prior to submitting a Proposal. All Proposals must include the following:
� Purchase price
� Initial deposit and total nonrefundable deposit
� Transaction expense responsibility
� Source of capital and financing contingencies
� Contract, due diligence, and closing periods
� Closing date
Call for OffersA call for offers date will be detailed to all perspective purchasers who have signed a confidentiality agreement. The date establishing a call for offers shall be provided approximately ten (10) business days after delivery of this marketing brochure.
26 Main Street, Chatham, NJ 07928 | 555 Croton Road, King of Prussia, PA 19406
For more information please contact:
Matthew MarshallManaging Director610 574 [email protected]
Jeffrey WilliamsManaging Director215 284 [email protected]
Andrew HoustonVice President973 769 [email protected]
Timothy CahillVice President312 424 8129Timothy [email protected]
EXCELLENCE • ADVOCACY • INTEGRITY