Practice Group: Acquisitions & Sales
Practice Group Leader: Kellen F. Murphy, Esq.
- Represented developer in connection with acquisition of land for the development and construction of a 500,000 square foot industrial building in Phillipsburg, New Jersey. Negotiated limited partnership agreement and development management agreement with institutional equity partner for the project.
- Represented design/build developer in connection with sale of 200,000 square foot build-to-suit industrial building in Somerset County, New Jersey.
- Represented private equity firm in connection with $35,000,000 sale of multi-tenant office building in Florham Park.
- Represented defense contractor in connection with sale of headquarters and manufacturing facility in Barrington, New Jersey.
COVID-19 Impact and Moving Forward: The impact of COVID-19 on the commercial real estate industry has been widespread. As most people in our industry are aware, the virus has had a particularly detrimental impact on the office, retail, hospitality, and multifamily sectors. The economic challenges created by the virus have resulted in numerous tenant defaults, often materially impacting the ability of purchasers to finance acquisitions.
Nevertheless, we believe that things are beginning to turn a corner, and we expect to see an increase in transactions in 2021. As it has this past year, the industrial market will likely lead the way. The industrial market has stayed strong through the first eight months of the COVID-19 pandemic, and we anticipate that it will continue to do the same in 2021. If a vaccine for COVID-19 is rolled out early next year, we are hopeful that we will also see increased activity in the retail, multifamily, and office sectors, which have been the hardest hit by the virus.
MSW’s attorneys have the experience to assist purchasers and sellers alike navigate through the many unprecedented challenges that COVID-19 has contributed to the real estate market.
Contact Us: For more information about MSW’s Acquisitions & Sales Practice Group, please contract Kellen F. Murphy, Esq. at (973) 705-7420 or firstname.lastname@example.org.
Murphy Schiller & Wilkes LLP is a boutique law firm specializing in commercial real estate and development matters. Headquartered in Newark, NJ, the firm was founded to provide effective, efficient, and creative legal services to meet the distinctive needs of our clients. Through the development of comprehensive legal strategies, our team works tirelessly to create a blueprint for success and advance our clients’ interests in every matter.