Lee & Klatskin is a Finalist for NAIOP Impact Deal of the Year for 721,000 Square Foot Industrial Deal in New Jersey

New Brunswick, NJ, April 30, 2007 – The New Jersey chapter of NAIOP announced today the three finalists for the coveted Impact Deal of the Year Award.  Lee & Klatskin was selected for the sale of a 721,000 square foot build-to-suit warehouse distribution center on 66 acres in Florence, New Jersey.   Other finalists included Cushman & Wakefield and the NJ Economic Development Authority.

This represents the first time in recent years that an industrial real estate transaction was selected as a finalist for this important award.  The committee was impressed with the environmentally friendly, state-of-the-art, 721,000 SF build-to-suit regional distribution center industrial sale located at Haines Center, Florence, New Jersey.  The project encompasses energy efficient design elements and has brought a new, high-end industrial product to the marketplace.  The plan for the project includes an expansion to 1 million square feet.

“We are proud to be considered for this award which is the most coveted real estate award in the State”, said David E. Knee, Principal of Lee & Klatskin.  Mr. Knee along with Principal Robert C. Kossar led the transaction team which included Steve Martin, Senior Supply Chain Consultant and Chris Hile, Vice President.

The developer of the project is Whitesell Development from Delran, New Jersey.  The user/buyer is an undisclosed Fortune 500 retailer.  Lee & Klatskin represented the retailer.

Highlights of the submission included:

• The 68’ clear ceiling will be the highest in New Jersey.

• This transaction will solidify Exit 6 as a premium location for regional distribution.

• The use of sophisticated “siting” analysis to determine the ideal location for the user based on transportation, labor and real estate costs versus available economic development incentives.

About Lee & Klatskin Associates

Headquartered in Teterboro, New Jersey, with a regional office in Edison, Lee & Klatskin Associates is the leading industrial real estate service firm in New Jersey.  Core services offered by the firm include commercial/industrial property leasing, sales, consulting, property management and construction services.  For over four decades, Lee & Klatskin’s dedicated staff has enabled the firm to become am industry leader, serving the real estate needs of owners, investors and users throughout the marketplace.  As a member of the Lee & Associates Group of Companies, Lee & Klatskin continues to offer clients the same level of service they have come to expect in New Jersey, nationwide with 31 offices in the United States.