Best Real Estate Deals of 2021: Industrial Winners
Publisher: Philadelphia Business Journal
March 31, 2022
Day Pitney's Real Estate Team was recognized by the Philadelphia Business Journal with a first place win for "Best Industrial Deal Execution" for the firm's work on the King of Prussia Logistics Hub. The team, led by Real Estate Partner Jared Ross, provided legal counsel to Foxfield LLC for the acquisition, development, construction, environmental aspects, leasing and ultimate sale of the asset.
Day Pitney's work began in 2019 when Foxfield entered the Philadelphia market with the purchase of the former Johnson Matthey Inc. chemical plant at 900 River Road in Upper Merion. The company cleaned up the site and moved ahead with the development of a 331,525-square-foot distribution center on 29 acres on speculation. It secured a 10-year lease with Target Corp. while the structure was under construction. It sold the building for $115 million, or $346.88 a square foot. The project had a record lease rate and sale on a per-square-foot basis.
In addition to Ross, the team includes attorneys Amanda G. Gurren, Alan Ruiz, Ashley Membrino, Lauren Grillo and Harold M. Blinderman.
Day Pitney is featured in Law360 Real Estate Authority “Property Plays” column for it work on the sale of Merck Dohme’s 108-acre Kenilworth, New Jersey headquarters to Onyx Equities LLC and Machine Investment Group.
Day Pitney Partners Gretchen Blauvelt-Marquez, Michael Fitzpatrick, James Leva, Nicole Magdiziak and Thomas O'Mullane's promotion to partnership and Partner Todd Terhune's arrival to the firm were featured in the New Jersey Law Journal's New Partners Yearbook 2023.
Day Pitney LLP successfully represented Merck Sharp & Dohme LLC (Merck) in connection with the sale of its ~108-acre campus in Kenilworth, New Jersey, to a joint venture between Onyx Equities LLC, and Machine Investment Group.
Day Pitney Attorney Amanda G. Gomez recently was one of the coaches of the St. Thomas University College of Law Trial Team that placed third in the National Phi Alpha Delta Mock Trial Competition held at the Hilton Arlington in Arlington, VA.