Binswanger/CBB Negotiates $18 Million Lease on Behalf of NVR Building Products in Delanco, New Jersey.Business Editors PHILADELPHIA--(BUSINESS WIRE)--Jan. 29, 2003 Representing NVR NVR Never NVR Network Video Recorder NVR Novgorod (Russia) NVR Naval Vessel Register (US Navy) NVR Nene Valley Railway (UK) NVR Non Volatile Residue NVR Non-Volatile RAM Building Products, Binswanger/CBB arranged the lease of a 131,000 square-foot building that will be constructed on a 50-acre site in Delanco, New Jersey. The property is located on Coopertown-Delanco Road. The long-term lease has an aggregate value in excess of $18,000,000 and is one of the largest industrial real estate transactions in southern New Jersey in recent years. A 131,000 sq. ft. state-of-the-art, rail-served manufacturing facility will be constructed by The Keith Corporation. A wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of NVR, Inc., NVR Building Products will manufacture components for residential construction at the site, creating 200 new jobs in the area. The lease in Delanco was the culmination of an intensive two-year site search of the entire Tri-State Area There are a number of places in the United States known as tri-state areas where three states or holdings meet at one point (a tripoint), or in proximity to each other. The two most well-known are for the New York and Chicago metropolitan areas. . Crucial to securing the deal were a BEIP BEIP Business Employment Incentive Program (New Jersey) BEIP Bucharest Early Intervention Project grant from the New Jersey EDA (1) (Electronic Design Automation) Using the computer to design, lay out, verify and simulate the performance of electronic circuits on a chip or printed circuit board. and reduced property taxes that came as a result of a redevelopment zone designation by Delanco Township, both of which were facilitated by Binswanger/CBB. One of the nation's largest homebuilding and mortgage banking companies, NVR, Inc. sells and constructs homes under the Ryan Homes, NVHomes and Fox Ridge Homes trade names. NVR homebuilding operations serve eighteen metropolitan areas in eleven states from New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of to Tennessee. Serving as landlord and developer, The Keith Corporation is a full-service commercial real estate firm offering a wealth of expertise in all aspects of real estate services, including development/build-to-suit, property management and corporate services. Headquartered in Philadelphia, PA, Binswanger/CBB is a founder of Chesterton Blumenauer Binswanger, an international full-service real estate organization with 160 offices worldwide throughout the U.S., Canada, Mexico and South America, the U.K. and Europe, the Middle East, Asia, South Africa and Australia. |
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