“RD Management's goal at Waterview Marketplace is to create a destination that appeals to both residents and employees in the Parsippany area,” says Richard Birdoff, principal and president of RD Management.
“We're thrilled to move forward with the Rockefeller Group Logistics Center on one of the largest remaining developable sites in New Jersey at a time when demand for well-located and well-designed industrial product in the state is so strong,” says Rockefeller Group's Clark Machemer.
“Our decision to heavily invest in the renovation of Capital Logistics Center over the past several years was validated with this sale,” says Eric Witmondt, principal of Woodmont Industrial Partners.
The “365” concept offers affordable grocery shopping as a complement to Lincoln Harbor's mix of uses. The 2.5 million square-foot development currently comprises over 1,000 existing rental and condominium units, a hotel, restaurants, commercial space, ferry and light rail transportation and open space.
“As ecommerce grows, occupiers continue to demand warehouse space in the last mile of their distribution chain,” says John Obeid of Colliers International. “Fundamentals in northern New Jersey continue to post record improvement, with average asking rent, availability rate and construction activity currently at historical levels.”
“A wide variety of tenants flock to this facility to take advantage of Prologis' reputation for hands-on management, and for the building's great location,” says JLL's Brian Golden. “The building offers direct access to Manhattan as well as major highways and mass transportation.”
Official Chinese statistics are carefully managed and not very useful in analyzing the country's impact on the global economy, says economist Julia Coronado. She says three statistics tell a better story about China's economy: freight volumes, electricity generation and loan growth.
