Commercial Real Estate Industry Celebrated at NAIOP Awards Gala

Last night, NAIOP New Jersey hosted its 39th Annual Commercial Real Estate Awards Gala, honoring the achievements of leading commercial real estate professionals and organizations, and celebrating the year’s most impactful transactions

The sold-out event, held at The Palace at Somerset Park, annually draws hundreds of stakeholders and industry insiders, including many of the top titans of New Jersey commercial real estate.

“The honorees tonight represent the best of real estate and economic development,” said Dan Kennedy, CEO of NAIOP New Jersey. “We are inspired by their commitment and excellence in transforming New Jersey’s communities. All of them will have a lasting impact on our state, industry, and association.”

The Gala honored NAIOP New Jersey’s 2026 Commercial Real Estate Awards recipients, including Edwin Cohen (Prism Capital Partners LLC) who received the Charles Klatskin Lifetime Achievement Award, given to the individual who has had a distinguished and longstanding record of exemplary service to the industry and community, as well as significant personal achievements.

Other honorees included Clark Machemer (Crow Holdings Development), and Rob Kossar (JLL), who were presented with Industry Impact Awards, recognizing their role as distinguished industry trend setters

Dana Nalbantian (Gensler) was recognized with the Industry Service Award, while East Brunswick Mayor Brad Cohen and Bedminster Mayor Lawrence Jacobs were honored with the Caren S. Franzini Public Partner Awards.

Deal of the Year Awards
The evening also included the unveiling of NAIOP New Jersey’s Deal of the Year awards. Winners were chosen by a panel of judges based on impact on the community and marketplace, degree of complexity and/or uniqueness, innovative strategies and creative problem solving.

Industrial Deal of the Year Winner: Millstone 8 Logistics Park, Millstone

Millstone 8 is a 1.2 million-square-foot industrial project in New Jersey’s Exit 8/8A submarket developed by Crow Holdings Development and 2020 Acquisitions. JLL achieved full lease-up to Logistics Plus and United Legwear. JLL later completed the sale of Building 1 totaling $270 million to BGO 2025’s largest single industrial building sale in the country.

Mixed-Use Deal of the Year Winner: Bell Works Fort Monmouth, Tinton Falls

Inspired by Somerset Development acquired the Commvault headquarters in New Jersey to transform it into Bell Works Fort Monmouth, its third location under Ralph Zucker’s Metroburb model. The development reimagines the campus as a vibrant mixed-use destination with flexible offices, coworking, retail and hospitality spaces creating a thriving community for working inspired.

Emerging Markets Deal of the Year Winner: 1888 Studios, City of Bayonne

1888 Studios will be the largest film studio in the Northeast. The project entails new construction of an approximately 1.5 million-square-foot film studio. The 58-acre studio campus will be home to 17 buildings including over 900,000 square feet of production and production support spaces, almost 200,000 square feet of class-A office, and a 2,000+ parking space facility.

Office Deal of the Year Winner: Freshpet Global Headquarters

The Freshpet Global Headquarters is a 32,000-square-foot, build-to-suit workplace developed by Advance Realty Investors for Freshpet, the NASDAQ-listed leader in refrigerated fresh pet food.  Developed on a former surface parking lot, the project serves as the cornerstone of the mixed-use transformation of its Bedminster Village campus. The pet-friendly facility seamlessly blends indoors and outdoors and is purpose-built as the physical embodiment of Freshpet’s commitment to pets, people, and the planet.

Transformational Deal of the Year: Sanofi Flagship at M Station West, Morristown

SJP Properties and Scotto Properties secured a lease with Sanofi to relocate its New Jersey headquarters to a flagship development at M Station West in Morristown. On completion in March 2025, Sanofi’s new base of operations brought over 2,000 professionals to the heart of downtown Morristown.