CBRE provides a wide range of commercial real estate services to property owners, investors, and occupiers. Their services include sales, leasing, property management, facilities management, project management, mortgage banking, appraisal, and investment management. CBRE operates globally, using its extensive market knowledge to offer tailored solutions that enhance the value of real estate assets. Unlike many competitors, CBRE serves a diverse clientele, from multinational corporations to small businesses, across various sectors such as office, industrial, retail, and residential real estate. The company's goal is to help clients make informed decisions and achieve their real estate objectives by providing insights into market trends and opportunities.

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Martin Brower, a global leader in supply chain solutions for the world’s leading brands, has signed a lease for a 147,000-square-foot facility at Crow Holdings at I-95, 14515 McNulty Road in northeast Philadelphia.Crow Holdings Development anticipates the project, which includes 57,000 square feet of cold storage capacity, will be completed by Fall 2025.CBRE’s Jonathan Springer, Andrew Green and Mike Barker served as tenant representatives in the transaction. Colliers’ Brad Boone and Brian McCurdy represented Crow Holdings Development as exclusive leasing agents for Crow Holdings at I-95.Crow Holdings at I-95 occupies a 14.4-acre redevelopment parcel that Crow Holdings Development purchased earlier this year from PIDC, Philadelphia’s public-private economic development corporation. Crow Holdings at I-95 has a 10-year PILOT agreement in place. It is part of an established industrial park within a Keystone Opportunity Zone (KOZ), which provides eligibility for businesses to take advantage of certain state and local tax abatements.“These factors and our team’s ability to reconfigure the building’s design from traditional industrial to specialized use mid-development were key factors in securing a best-in-class tenant like Martin Brower,” Crow Holdings Development’s Clark Machemer, senior managing director, said. “It was an honor to be entrusted by PIDC to make this key redevelopment project a reality, and we couldn’t be more pleased with the result.”The building’s “spec to suit” construction is progressing, and Crow Holdings Development has begun interior fit-out work for Martin Brower. The specialized storage features cooler, freezer and cold dock components

Crow Holdings Inks Full-Building Lease In Philadelphia

Hanford Nuclear Reservation with Northwest Energy’s nuclear reactor letting off steam in the background. (Photo by Tobin, via Flickr, Creative Commons)President Joe Biden this week issued one of his last executive orders, addressing the race to build domestic data centers and clean energy plants in order to retain America’s leadership in artificial intelligence. “We will not let America be out-built when it comes to the technology that will define the future, nor should we sacrifice critical environmental standards and our shared efforts to protect clean air and clean water,” the order states. The nation’s tech behemoths — including Seattle-area cloud giants Microsoft and Amazon — are sprinting to expand the computing power of their own AI operations and those of their cloud customers. But shortages of suitable land and clean energy are challenging these efforts.Biden’s order directs the Department of Defense and the Department of Energy to “lease federal sites where the private sector can build frontier AI infrastructure at speed and scale” and highlights the essential role that AI plays in the economy and national security.“As the land of liberty, America — not China — must lead the world in the development of AI,” Biden said in his farewell address to the nation on Wednesday evening. The executive order calls on federal agencies to identify tracts for data centers and clean energy plants, and to work quickly in permitting the projects

Biden’S Executive Order On Ai Data Centers Could Benefit Amazon And Microsoft

An $18.6 million loan has been arranged through Valley National Bank for the newly delivered 124,000 square-foot, state-of-the-art industrial facility at 101 Seventh Street (also known as 1 Lodi Street) in Passaic, according to a Tuesday announcement from CBRE’s Capital Markets’ Debt & Structured Finance team.CBRE’s New York based Debt & Structured Finance team of Jason Gaccione, Shawn Rosenthal and Jake Salkovitz facilitated the financing on behalf of the building owner, 101 Seventh Street Urban Renewal LLC.“Our team is pleased to have secured a financing option that meets the needs of our client, one of the Northeast’s oldest and most respected recycling companies,” Gaccione said. “Our successful collaboration with Valley National Bank to secure favorable terms enables ownership to continue expanding their operations across the region.With nearly a century of experience, the principals of 101 Seventh Street Urban Renewal LLC currently operate an industry-leading recycling and processing center at this property. The facility is among the nation’s most advanced for dual and single-stream processing of residential and commercial recyclables (aluminum, glass, paper, and plastic).Situated in the Route 46/23/3 Interchange industrial submarket, the facility is in close proximity to Routes 21, 46 and 3, providing easy access to Interstates 80, 280, 78 and 95

Cbre Secures $18.6M Refinancing Proceeds For Industrial Facility In Passaic

Ace Pickleball Club is coming to Brunswick Shopping Center in North Brunswick, according to an announcement from Levin Management Corporation on Tuesday.Levin Management Corporation (LMC) serves as leasing and managing agent for the 288,000-square-foot Middlesex County property, located just off Route 1 on Milltown Road.LMC’s Fred Younkin, leasing representative, negotiated the 26,500-square-foot commitment on behalf of property ownership. Marta Villa of CBRE represented the tenant.The wildly popular, fitness-focused recreation concept has surged in popularity in recent times. Ace Pickleball’s community-centric “open play” model fosters organic connections among players. Club locations offer all-inclusive pricing; premium courts; and opportunities for members to learn, compete and socialize. The New Brunswick Shopping Center facility will host corporate events and parties. It will also feature a small pro shop.“Pickleball has surged in popularity in recent years, appealing to players of all ages and abilities,” Younkin said

Ace Pickleball Takes 26,500 Sf At Brunswick Shopping Center In North Brunswick

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Cross-border trade helping Mexico narrow gaps in technology; Investment firm acquires 2.3M-square-feet of logistics space in Houston; CJ Logistics America leases 1M-square-foot facility near Dallas; and Texas car hauler acquires three logistics firms.While Mexico continues to grow as a critical hub in global supply chains, more technological investments need to be made for the country to unlock its full trade potential, said Fernando Correa, CEO and cofounder of Cargobot.Correa believes that by addressing technology challenges between shippers, trucking companies and logistics professionals, Mexico could be well-positioned for even more trade growth in 2025.Mexico is currently the top U.S. trade partner, with cross-border commerce totaling $798 billion in 2023. This year, U.S.-Mexico trade is on pace to surpass 2023, with trade totaling $706.9 billion from January through October.“From my perspective, Mexico is very key for the future of the next three, four years in shipping, because we have a lot of traffic,” Correa told FreightWaves in an interview. “We need to attend to that traffic. We have to organize the traffic

Borderlands Mexico: Cross-Border Trade Helping Mexico Narrow Gaps In Technology

(Bigstock Photo)Do taxes that target wealthy residents drive away entrepreneurs and businesses?That’s the question being debated again in Washington state after Gov. Jay Inslee this week proposed a new wealth tax to help generate revenue for government programs and address a multi-billion dollar budget shortfall.Washington recently passed a 7% capital gains tax that sparked controversy within the tech and business sectors.Critics of such taxes say they hurt the ability to attract business and retain tech talent.Seattle-based venture capitalist Aviel Ginzburg said the wealth tax could be a “disaster.”“We’re still waiting for how it’s written, but if indeed it is based on unrealized capital gains it could completely destroy our entire innovation ecosystem,” he said.Ginzburg, who recently helped launch a new startup community for entrepreneurs and investors in Seattle, said he’s concerned about an exodus of startup founders, who can have lucrative equity stakes in their companies.He also believes that high net worth individuals — the people who make angel investments in startups and invest in venture capital funds — will depart.Pouring all my energy into making Seattle a better place to be an entrepreneur and the gut punches feel endless. — aviel 🚜 (@aviel) December 18, 2024Todd Myers, vice president for research at the Washington Policy Center, called the proposed wealth tax a “direct attack on innovators in the tech sector who are such an important part of our state.”“Washington should be welcoming the next Jeff Bezos and Bill Gates, not chasing them away,” he said, referring to the founders of Seattle-area tech giants Amazon and Microsoft.However, some say tax policy has little to do with the quality of innovation in a given location, pointing to high tax burden states such as California — home to Silicon Valley, the epicenter of tech and the AI boom.And research shows that raising taxes on the rich doesn’t lead to migration to other states or countries.But even without migration, a wealth tax would “erode the investments of those who remained, undercutting Washington’s economy, particularly in the tech sector,” said Jared Walczak, vice president of state projects at the think tank Tax Foundation.Some pointed to Washington’s capital gains tax after Bezos announced in November 2023 that he was leaving his longtime hometown of Seattle, where Amazon is based, and moving to Miami.Bezos has since sold billions in Amazon stock. But he never mentioned taxes in his Instagram post about the move to Miami — he wanted to be closer to his parents and Blue Origin operations in Florida.In the wake of the capital gains tax, one company — Fisher Investments — announced it was moving to Texas.But there hasn’t been a widely reported migration of tech companies out of Washington state due to that tax, which passed in 2021 and taxes profits over $262,000 made from the sales of stocks and bonds.An initiative to repeal the capital gains tax — which funds public education — was overwhelmly voted down by Washington residents in last month’s election.Seattle is still the No. 2 tech talent market, according to a recent report from CBRE.A novel taxHelion CEO David Kirtley, left, with Gov. Jay Inslee at Helion’s facility near Seattle

Wealth Tax Proposal In Washington State Reignites Debate Over Taxes And Tech Talent Migration

Databricks CEO Ali Ghodsi. (Databricks Photo)Databricks is the talk of the tech world this week as the San Francisco data and AI company is raising one of the largest venture capital deals ever. The company’s $10 billion Series J funding round gives Databricks a gigantic valuation of $62 billion — up from $43 billion last year — in the latest sign of the frenetic AI race. Founded in 2013, Databricks helps organizations manage and analyze large volumes of data. It also provides tools to build machine learning and AI applications. More than 60% of the Fortune 500 use Databricks’ products.Databricks is available on the major cloud platforms, and also competes with the likes of Amazon, Microsoft, Google, and others.The company, led by co-founder and CEO Ali Ghodsi, grew revenue in the October quarter by more than 60% year-over-year and expects to reach $3 billion in annual revenue run rate by the end of next month.Databricks has two offices in the Seattle region — an RD facility in Seattle, just south of downtown, and another location in Bellevue

Databricks, Set To Raise Massive $10B Funding Round, Looks To Grow Seattle-Area Footprint

CBRE today announced the closing of a $17 million refinancing of 600 Harrison Street, a Class A 46-unit luxury multifamily apartment building in Hoboken.Built in 2017 by The Daten Group, the property features open concept floorplans with over-sized windows facing New York City and a state-of-the-art amenity package aimed at tenant attraction and retention. Units are finished with hardwood floors, Caesar Stone quartz countertops, stainless steel appliances, glass enclosed showers, floating vanities, among many other luxury features. Located within a 3-minute walk from the 9th Street Light Rail Station, residents enjoy immediate connectivity to Manhattan and the surrounding Hudson Waterfront.The CBRE Debt & Structured Finance team of Jason Gaccione, Shawn Rosenthal and Jake Salkovitz along with CBRE’s investment sales team of Fahri Ozturk, Richard Gatto and Zach McHale facilitated the loan on behalf of The Daten Group and its principals, David Ennis and Craig Rosenman.“This execution did not happen without strategic planning,” Gatto said. “Our team, in conjunction with our Debt & Structured Finance counterparts, strategized with The Daten Group for over a year both analyzing property performance and monitoring market conditions to determine the execution that would deliver the highest proceeds. We are thrilled to be able to deliver such an outstanding outcome for our client.”“The closing of this refinancing was the best possible outcome for our investors. CBRE did a wonderful job making sure no stone was left unturned throughout the process

Cbre Secures Refinancing For Luxury Apartment Building In Hoboken

Dalfen Industrial, together with funds advised by affiliates of Centerbridge Partners, L.P., acquired 83 Gross Avenue, a 4,500 sq.-ft. industrial property on 1.87 acres of land in Edison. Dalfen, one of the nation’s largest buyers of industrial real estate focused on high-quality industrial properties in key markets, acquired the property and site with Centerbridge in an off-market transaction. Dalfen and Centerbridge will utilize the site for Industrial Outdoor Storage.The transaction was arranged by the CBRE team of Mark Silverman, Liam McGregor and Elli Klapper represented Dalfen Industrial in direct negations with the seller.“This property presented our client with a unique and rare opportunity to acquire an off-market, highly sought-after IOS asset situated in one of the most dynamic and active industrial markets in the Tri-State area,” Silverman said. “This strategic acquisition not only enhances Dalfen’s portfolio but also positions the company for significant growth in a thriving sector.”Dalfen and Centerbridge were attracted to the property due to its proximity to the New Jersey Turnpike (I-95) and I-287, two major northeast corridors. The site is ideal for outdoor storage and features a functional industrial building that is being delivered vacant by the seller

Cbre Arranges Off-Market Acquisition Of Industrial Outdoor Storage Property In Edison

Law firm McGivney Kluger Clark & Intoccia, P.C. inked a 13,558 sq. ft. office lease at Eastman Companies’ The Eisenhower, a Class A office complex located at 290 West Mount Pleasant Avenue in Livingston, according to a Tuesday release from CBRE.The CBRE team of Jon Meisel, Erin Wenzler and Dan Casey spearhead the leasing campaign at The Eisenhower and represented Eastman Companies in the negotiations.The law firm previously occupied temporary, fully furnished offices at the property prior to its long-term lease commitment.“MKCI required the highest quality office space to meet the demands of its client base, and The Eisenhower fit its real estate parameters,” Casey said. “Eastman Companies was also able to offer immediate furnished temporary space for a short period while a long-term lease was negotiated—a huge benefit for the tenant. MCKI will soon occupy new, long-term space designed specifically for its needs.”Located at 290 West Mount Pleasant Avenue, The Eisenhower is Northern New Jersey’s most centrally located Class A office facility, situated minutes from Newark International Airport and New York City, offering convenient access to Routes 280, 80, 287, the New Jersey Turnpike and the Garden State Parkway.The Class A office building offers premium amenities not found in most suburban office buildings including a 220-seat auditorium with state-of-the-art audio and video equipment, more than 10 conference rooms, parking deck, new electric car chargers, a full-service cafeteria, walkable retail amenities, game room, loading dock and multiple fitness options

Mcgivney Kluger Clark & Intoccia, P.C. Inks 13,558 Sf Space At Eastman Companies Office Property In Livingston

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