FEATURE ARTICLE, FEBRUARY 2006

NORTHEAST OFFICE DEVELOPMENTS
Compiled by Nicole Thompson

Wall Commercial Park
Wall, New Jersey

Developer: Sheldon Gross Realty, Inc., which also is handling leasing for the property

Property Type: Office Park

Location: Route 34 in Wall, New Jersey

Size: The property features four buildings in all, including 3 office buildings of three stories apiece as well as a single-story flex building. The development will encompass a total of 300,000 square feet.

Start Date: Construction on the entire project, which is broken down into several phases, officially begins in late 2006.

Completion Date: Phase I will be completed in 2007, with the balance of the project delivering in 2008. The development will be constructed on both a speculative and build-to-suit basis.

General Contractor: Gordon Construction Company

Unique Features: Situated on 47 acres in a beautiful location, the development   will hardly disrupt the environment. Wall Commercial Park is surrounded by a heavily wooded area set back far from the road, providing an atmosphere of seclusion while remaining only minutes away from amenities companies require to be successful. In addition, all utilities including sewer, water, gas and electric are at the site.

Prospective Tenants: Both local and national tenants are expected to lease space at Wall Commercial Park. The local market encourages tenants to take advantage of the labor supply that traditionally commutes out of the area.

WSFS Bank Center
Wilmington, Delaware

Developer: The Buccini/Pollin Group

Property Type: Class A+ Office Tower

Location: 500 Delaware Avenue, Wilmington, Delaware

Size: One 15-story building featuring 371,000 square feet of rentable space; also includes a five-story parking deck with 550 spaces

Start Date: Groundbreaking occurred in September 2005

Completion Date: December 2006

Amenities:

•   High-speed “smart” elevators

•   State-of-the-art HVAC system

•   24-hour site security

•   on-site parking with covered, secure access from within the building

•   on-site WSFS Bank branch, city of Wilmington Post Office, breakfast/lunch spot

•   access to Wilmington's downtown restaurants and retail establishments

Signed Tenants: WSFS Financial Corporation, law firm Morris, James, Hitchens & Williams, United States Postal Service

Projected Tenants: Legal and executive firms

Architect: Gensler

General Contractor: Gilbane

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