New Jersey

During a recent competitive bidding process, Cushman & Wakefield conducted tours with more than 15 potential buyer groups and received multiple offers for 1 Gatehall Drive.

The Board of Commissioners also approved the first inflation-based adjustments to the agency's tolls, fares and fees since 2015.

One of the highlights of the evening program will be when Anne Evans Estabrook of Elberon Development, Mindy Lissner of CBRE and Diana Fainberg of D.E. Fainberg will be inducted into the NAIOP New Jersey Hall of Fame.

Although there has been a number of consolidations undertaken by big-pharma companies, the number of small and mid-tier pharma and bio-tech firms in New Jersey continues to climb.

CBRE states that the properties attracted offers from 15 separate investment groups.

The adjustable-rate loans have seven-year terms with five-year extension options if performance goals are met.

The sale of St. Christopher's to Tower and Drexel is part of the process to resolve the Chapter 11 bankruptcy filed by American Academic Health Systems LLC.

Cushman & Wakefield reports that the recent signing of two anchor tenants at the property are clear signs that the rebranding initiative at the property is paying dividends.