NorthStar: The Preferred Owners Representative

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For several of Preferred Real Estate’s projects, NorthStar took on the role of site developer, in-house development group, facilitator, and owner’s advocate. In this role, NorthStar handled all aspects of each project. Our goal was to work for the developer – Preferred – and end user to ensure that all project requirements were met. As the development managers on each project, NorthStar was tasked with developing former manufacturing and production campus facilities, most of which had brownsfield conditions, into adaptive reuse office and commercial applications. NorthStar managed the process for each individual project including redevelopment, adaptive reuse, and interior renovations to accommodate the tenant. Select projects include:

American Metro Center: This historic property in Hamilton, NJ was originally constructed in 1918 as a manufacturing facility for American Standard Company. As Preferred’s owners representative, NorthStar managed all aspects of this project, which included site redevelopment - including new on-site and off-site roads - and environmental remediation per NJ DEP mandated action plans, major interior structural demolitions, repairs, tenant fit-outs for 450,000 SF of Class A office space, and planning for utilities and improvements within the northeast corridor AMTRAK right-of-way.

Budd Commerce Center: NorthStar helped Preferred to undertake the redevelopment and sub-division of the former Budd Company manufacturing site, which included 20 buildings totaling 2.4 million SF on 75 acres in Philadelphia, PA. Our team supervised the multi-faceted environmental cleanup of the former brown field site, and renovation of several buildings onsite, which included the tenant fit-out of 265,596 SF of former automobile component manufacturing space into Class A office space and headquarters leased to Temple University Health Systems. We coordinated, with the Architect, historic window replacement. This facilitated placement of the entire site on the National Historic Register and related tax credits for the Owner.

Island View Crossing: We assisted with the renovation of the historic Island View Crossing in Bristol Borough, PA. The project consisted of 150,000 RSF within an 180,000 SF three-story structure. As a result of the renovation, Lenox now occupies a portion of the first floor, the entire second floor, and a portion of the third floor. NorthStar managed the coordination review and construction administration portion of the project.

Additional projects include: Philadelphia: ABB; Fresenius | New Jersey: Lucent; Innophase; Roebling Wireworks; Rhodia; Huntsman; Philipsburg Commerce Park; Mid-Atlantic Corporate Center; 101 Crawfords Corner Road; Wyeth | Maryland: COPT Unisys; National Commerce Park | Massachusetts: Wyeth; Attleboro Corporate Center | New York: IBM

Preferred Real Estate

  • Renovation, Adaptive Reuse, Redevelopment
  • Multiple Domestic Locations
  • 10M+ SF

For more information contact Anne K. McFadden

New York 212-600-0823

  Virginia 703-844-1729

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