Date post: | 31-Mar-2016 |
Category: |
Documents |
Upload: | mid-atlantic-real-estate-journal |
View: | 232 times |
Download: | 4 times |
Heller Urban Renewal sets foundati on for
Harrison Stati on
A shopping center in Bayonne, NJ
Inland Real Estate Acquisitions purchases 356,647 s/f Bayonne Crossing for $75.2 million
BAYONNE, NJ — Inland Real Estate Acquisitions an-nounced the acquisition of Bayonne Crossing, a 356,647 s/f shopping center for $75.2 mil-lion, including future estimated earnout payments totaling up
Eastdil Secured brokered the sale of 733 10th Street
Jamestown Properties acquires 171,000s/f class A offi ce building for $140 million
7-9 B
ISSUE HIGHLIGHTS
Volume 24 Issue 9May 11 - 24, 2012
Secti on C
23rd Annual Conference & Expo
Atlanti c City Conventi on Center
www.marejournal.com
Aucti ons ...................................................... 6AFinancial Digest ...................................... 9-14ADelMarVa ..............................................15-22ANew Jersey ...........................................23-33APennsylvania ......................................... Secti on B
Directory
Upcoming SpotlightINDUSTRIAL/DISTRIBUTION CENTERSCONTRACTORS & SUBCONTRACTORS
May 25th
REAL ESTATE JOURNALthe most comprehensive source for commercial real estate news
to $7.3 million. Located off the Hudson River and across from Manhattan, the acquisition includes a 91,109 s/f Wal-Mart and a 146,583 s/f Lowe’s Home Improvement, both anchor tenants on ground leases pur-chased by Inland Real Estate Acquisitions. Joe Cosenza, vice chairman of The Inland Real Estate Group and president of Inland Real Estate Acquisi-tions, facilitated the transaction on behalf of the buyer, Inland Diversifi ed Real Estate Trust.
“I am very pleased to have closed on the purchase of what I believe to be one of the fi nest retail assets I have ever acquired,” Cosenza said. “Bayonne Crossing’s unique location draws from 525,000 people within a 5 mile radius, and it’s within an Urban En-terprise Zone that gives pa-trons a 50% break on the state sales tax.” ■Bayonne Crossing aerial
ASHINGTON, DC — Jamestown Proper-ties has closed on its
acquisition of 733 10th St., an offi ce and retail development in Washington DC’s east end submarket, from Skanska.
The class A, 171,000 s/f of-fice building was developed by Skanska starting in 2009, and was designed to give small and mid-sized companies a large-caliber presence with eight fl oors of offi ce space. The LEED Gold certifi ed 733 10th St. blends energy effi cient fl oor-to-ceiling windows and a green roof system with an exception-ally effi cient fl oor plate design. It also features 1,800 s/f of ground-level retail space.
The acquisition of 733 10th Ave. follows two other sig-nificant acquisitions in the Washington D.C. market: the Georgetown Renaissance port-folio, acquired in fall 2010, and the Madison Hotel and offi ce complex in January 2011.
“Washington D.C.’s central business district continues to
be a strong focus for James-town,” said Michael Phillips, COO of Jamestown. “Our ac-quisition of 733 10th St. demon-strates an ongoing commitment to working with best-in-class developers, and acquiring in-
novative properties in dynamic urban markets.”
Building amenities at 733 10th St. include a fitness center with locker rooms, showers and towel service; a landscaped third-fl oor outdoor
terrace; a tenant-only rooftop terrace with catering capa-bilities; a building security system with 24-hour access; concierge services; on-site property management; a se-cure underground parking garage; and iconic views of Washington, D.C., including the monuments, National Por-trait Gallery and the Verizon Center.
“Washington D.C. is an ex-cellent market. We are pleased to have closed this transaction with Jamestown and look for-ward to delivering more high-quality, sustainable projects in the future,” said Rob Ward, executive vice president of Skanska Commercial Devel-opment.
Centrally located fi ve city blocks from the White House, the building is in close prox-imity to two Metro stations, retail stores, hotels and res-taurants.
The sale of 733 10th St. was brokered by Eastdil Se-cured. ■
733 10th St.
W
Quarry Center — 300 Million Years in the
Making!
23A
A Inside Cover — May 11 - 24, 2012 — Mid Atlantic Real Estate Journal www.marejournal.com
Let Pennrose open the door to new possibilities. For over 30 years, we have
combined quality development and proven management to create great lifestyles for our
residents. With extensive experience in a variety of property types and markets, and a
multi-disciplined approach to every project, we’re able to maximize your investment at
every stage. No matter what your needs are, contact the experts with the proven track
record of success.
Learn more about today’s Pennrose at PENNROSE.com or call 267.386.8600
www.marejournal.com Mid AtlanticRealEstateJournal—May11-24,2012—1A
70% OffEquipment UpgradesReplace your old equipment or lighting system with energy-efficient technology and Direct Install pays 70% of the total project cost. Start with a no obligation energy assessment to identify the cost-justified measures. Once you give the go-ahead, our trained contractors will handle everything from ordering and installing the equipment to processing the paperwork.
To get your share of the incentives and savings, visit NJCleanEnergy.com/DI or call 866-NJSMART to speak with a program representative.
NJ SmartStart Buildings® is a registered trademark.Use of the trademark without permission of the NJ Board of Public Utilities is prohibited.
FinancialIncentives
forEnergy
Efficiency
New Jersey’s Clean Energy Program™ provides a comprehensive package of initiatives that make energy efficiency a reality for business owners, local government officials and residents. Save up front with sizeable financial incentives and down the line with dramatically reduced utility bills.
FINANCIAL INCENTIVES AVAILABLE
2A—May11-24,2012—Mid AtlanticRealEstateJournal www.marejournal.com
Mid AtlanticReal Estate Journal
n 2006, the Financial Accounting Standards Board issued Statement
No. 157, Fair Value Mea-surements which was sub-sequently codified under Accounting Standards Codifi-cation Section 820 (ASC 820). ASC 820 provides guidelines surrounding fair value mea-surement and its application. While companies may elect fair value accounting for fi-nancial assets, current U.S. accounting standards only permit fair value reporting for non-financial assets in certain instances such as real estate investments held by pension funds or invest-ment companies. In these situations, the value of the real estate is adjusted to fair value on a recurring basis at each reporting date. ASC 820 also applies to the fair value reporting of nonfinancial as-sets on a nonrecurring basis, such as the purchase of an operating property or the impairment of a real estate project.
I
Mid Atlantic Real estate JouRnalPublisher.............................................................................Linda. ChristmanCo-Publisher..........................................................................Joe. ChristmanSection Publisher...............................................................Michael. CampisiSection Publisher.................................................................Elaine. FanningSenior Editor/Graphic Artist................................................. Karen. VachonProduction Assistant......................................................... Rachel. RugmanOffice Manager....................................................................Joanne. GavazaEditorial Consultant.............................................................. Ben.SummersGuest Columnist.............................................. Joyce.Price.&.Karyn.Tasker
Mid Atlantic Real estate JouRnal ~ Published Semi-Monthly
P.O. Box 26 Accord, MA 02018 (Mail)
312 Market Street, Rockland, MA 02370 (Overnight)
Periodicals postage paid at Rockland, Massachusetts and additional mailing offices
Postmaster send address change to:
Mid Atlantic Real Estate Journal, P.O. Box 26, Accord, MA 02018
USPS #22-358 | Vol. 24 Issue 9
Subscription rates: $99 - one year, $198 - two years, $4 - single copy
REPORT AN ERROR IMMEDIATELYMARE.Journal.will.not.be.responsible.for.more.than.one.incorrect.insertion
Toll-Free: (800) 584-1062 | MA: (781) 871-5298 | Fax: (781) 871-5299www.marejournal.com
The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
By Joyce Price & Karyn Tasker
What Investors Need to Know About Fair Value
Accounting for Real Estate
Contact: NEIL A. STEIN www.kaplaw.comOther Offices:
Kaplin StewartA t t o r n e y s a t L a w
Experience Counts. Count On Us.
KS Ad 6x5.5 BW Bulb.indd 1 10/10/11 3:41 PM
The statement was cre-ated to provide more relevant statements to investors, and is based on the idea that re-porting assets at fair value is more meaningful than report-ing based on historical cost. ASC 820 requires additional disclosures related to how the value was determined. How-ever, this information can be confusing to many investors who are reading financial statements. Understanding the disclosures can eliminate the confusion and provide important information to the investor.
HowASC820IsInterpreted:TheFair
ValueHierarchy
MAREJ Advertisers directory
Mid AtlanticReal Estate Journal
ASC 820 defines fair value as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction be-tween market participants at the measurement date.” The inputs utilized to estimate fair value are based on one of three levels (the fair value hierarchy). The reporting en-tity is required to disclose the level of input utilized which provides information as to how much of the reported fair value includes subjective components.
LevelOne inputs are quot-ed prices in active markets for identical assets. For
continuedonpage12A
A&S Boiler & Burner .................................................................21CAccent Group ..............................................................................22CAEGIS Energy Services ...............................................................5CAKF ...............................................................................................5BAmerican Boiler Co. .....................................................................7CApartment Guide .......................................................................13CB.R. Kreider & Son, Inc. ............................................................14BBarry Isett & Associates Inc. .....................................................12BBayshore Recycling .................................................................... 30ABH Security ................................................................................19CBohler Engineering ......................................................................9BBrasler Properties ......................................................................15BBurris Engineers Inc ....................................................................4BBussel Realty Corp. .................................................................... 25ACBC Bennett Williams .................................................................2BCDA&I ..........................................................................................5BCentral Wholesalers...................................................................21CCHAD ..........................................................................................10BColumbia Bank ........................................................................... 10ACooper Roffing ..............................................................................1CCooper-Horowitz, inc. ................................................................. 11ACREATE .......................................................................................7BCSG Consulting Engineers ........................................................ 19ADeerwood Real Estate Capital .................................................. 13ADesign East ................................................................................16CDustin C. Snyder Auctioneer LLC .............................................. 6AEarth Engineering Inc .................................................................7BEarthscan ................................................................................... 38AEhrlich, Petriello, Gudin & Plaza ...............................................9CElectrical Installation & Design, Inc .......................................... 4AElias B. Cohen & Associates ......................................................14CEntech Digital Controls .............................................................25CExpert Publishers, Inc. ................................................................ 7AFameco Real Estate ...................................................................14BFitzpatrick Lentz & Bubba ........................................................12BFix Asphalt ................................................................................. 28AGriffin Land ................................................................................14BHarvey Hanna & Associates, Inc. ...................................... 16A,22AHaworth ........................................................................................4BHeller Industrial Parks ............................................................. 31AHinerfeld Commercial Real Estate ...........................................13BHollister Construction ............................................................... 11BHurley Auctions ........................................................................... 6AIES Engineers ..............................................................................8BInvestors Bank ....................................................................... BC-CJenkintown Building Services, Inc. .......................................... 11BJewel Electric Suppy Co. ........................................................... 11CKaplin Stewart ....................................................................... 2A,9BKeast & Hood Co ........................................................................ 11BLandmarkJCM ........................................................................... 21ALebanon Valley .............................................................................1BLEW Corp. ..................................................................................21CM. Miller & Son ................................................................... 3A,IC-CManko Gold Katcher Fox LLP .....................................................8BMarcus & Millichap RE Investment Svcs. ......................... 18A, 3CMarcus & Millichap Taylor Zang ............................................FC-BMax Spann Real Estate & Auction Co. ....................................... 6AMcMahon Associates ....................................................................7BMericle Commercial Real Estate Services ............................. BC-BMeridian Capital Group, LLC ..................................................... 4AMetro Commercial.....................................................................8-9BMitchell ....................................................................................... 21AMJ Settelen Construction LLC ...................................................4BNJ SmartStart Buildings ............................................................ 1ANJAA Conference & Expo ...................................................... IBC-ANortheast New Jersey Chapter Appraisal Institute .................. 3ANorthMarq .................................................................................. 17ANWP Services Corporation ........................................................21CPardini R. Construction Corp. ...................................................12CPatterson Woods ......................................................................... 21APenn’s Northeast ..........................................................................2BPennCap Properties ............................................................... IBC-BPennrose ....................................................................................IC-APoskanzer Skott Architects ....................................................... 32ARegal Bank .................................................................................17CRiker Danzig ..................................................................24A, IBC-ASEBCO Laundry ........................................................................ 24ASheldon Gross Realty, Inc .......................................................... 24ASign A Rama ...............................................................................19CTarget Building Construction ....................................................14BTenant Safe .................................................................................19CThe Kislak Company, Inc ........................................................... 26AThe Thesing Companies .............................................................. 5ATighe & Cottrell, P.A. ................................................................. 21ATransportation Resource Group, Inc. ..........................................2BTriState Realtors Commercial Alliance .................................... 37AWhitesell ....................................................................................... 4AWhitestone Associates Inc ...........................................................2BWithim Smith + Brown, PC .......................................................18CWolf Commercial Real Estate .................................................... 27AWP Realty ..................................................................................IC-B
www.marejournal.com Mid AtlanticRealEstateJournal—May11-24,2012—�A
Mid AtlAntic ReAl estAte JouRnAl
HILADELPHIA, PA — ARCA (Advanced Recycling Corporation
of America) has doubled their square footage by expanding to Bldg. “C” at 4301 N. Delaware Ave. They now occupy 95,000 s/f. (Bldgs A & C) The value of the new lease is $3 million for the eight and half year term.
Sidney E. Gable, Inc. rep-resented Delaware Ave. LLC, owner, and ARCA, tenant, in this transaction. The proper-ties will be used for a Green Salvage Operation of refrig-erators, washers, and dryers. ARCA has spent ten million dollars for new equipment which includes a $5 million shredder that will recycle ninety percent of white prod-ucts.
The “green” operation will recycle all components of the appliances in that:
1. The insulation from these appliances will be shred into small pellets and used as fertilizer.
2. The refrigerants removed from these appliances will be recycled and used as an energy source for electricity.
3. The metal frames from
SidneyGable&StevenGablehandle$2.9mlease
SidneyE.GableAssociatesbrokers$�millionleaseP
They wrote the policy.
We make sure they write the check.
M. MILLER & SONPublic Adjusters
Since 1960
1211 Liberty Ave., Hillside, NJ 07205 � Tel: [email protected] � www.mmillerson.com
Proudly Presents:
The 6th Annual Meadowlands ConferenceThursday, May 17, 2012
Teaneck Marriott at GlenPointeTeaneck, NJ 07666
Continuing Education Credit:7 CE Hours Appraisal Institute
7 CE Hours State of New Jersey pending)7 CE Hours State of New York pending)
Tax Assessor pending)Sponsorship and exhibit space still available
$175 Members, 185 Non-MembersFor Registration after May 3, 2012: $200 Members, $210 Non-Members
For complete details, visit our conference webpage at http://www.nnjchapter-ai.org
these appliances will be shred into small pieces and recycled, not discarded or placed into landfills.
4. Philadelphia will have streets that are free from abandoned appliances.
Sidney Gable also completed a transaction with MPC Cor-poration, also from Minnesota that recycles old computers. They originally rented 60,000 s/f and this year expanded into the remainder of the building, now occupying 112,000 s/f They plan to have 75 employ-ees at the facility. The building is located at 10551 Decatur Road in Philadelphia. The rental payments over the term of the lease is approximately $2.9 million.
Sidney Gable and Steven Gable were most happy to complete these difficult real estate transactions. n
10551 Decatur Road
ENGLEWOOD CLIFFS, NJ and FAIRFIELD, NJ — Lo-man Properties has engaged Grubb & Ellis as marketing agent for 820 and 815 Rte. 1 in Woodbridge and 3419 Rte. 46 in Parsippany. These premier retail sites are available for sale or lease for the first time in more than a decade.
A team lead by senior VP, Jerry Putterman and associate VP, Dean Tselepis at Grubb & Ellis are in charge of the mar-keting effort.
820 Route 1 is .66 acres with lighted intersections on each side of the property and access from both Route 1 North and South. 815 Route 1 is a .25 acre pad site adjacent to Staples at a highly trafficked intersection. At just over seven acres, 3419 Route 46 in Parsippany is less than a mile from I-80 and just over a mile from I-287, offering access from all directions.
“We are thrilled to be in-volved with the Lomans and this great portfolio of proper-ties,” said Procida president, Billy Procida. n
Loman Propertiesengages Grubb &Ellis as marketingagentinNewJersey
4A—May11-24,2012—Mid AtlanticRealEstateJournal www.marejournal.com
Mid AtlAntic ReAl estAte JouRnAl
249 Homestead Road, Bldg. 5, Suite 8Hillsborough, NJ 08844
Tel: (908) 359-5677Fax: (908) 359-3770
Electrical Installation and Design, Inc. ( E.I.D.) is a licensed electrical contracting firm that is committed to offering excellence in the electrical field.
Being a member of the National Electrical Contractors Association, as well as being signatory to New Jersey I.B.E.W. Locals 102, 164, 269, 351, 400, and 456,
allows our firm to provide qualified, experienced personnel.
For more information on our company, please visit our website at www.eidelectric.com
We look forward to the opportunity to serve your company’s needs, and we are requesting to be placed
on your bid list.
Hunters Glen1,124 Units
$49,000,000Delran, NJ
Steward’s Crossing241 Units
$27,200,000Princeton, NJ
Woods at Narraticon150 Units
$16,950,000Deptford, NJ
West Creek Village 306 Units
$16,000,000Elkton, MD
Recent Financings Arranged By Meridian Capital Group
ECAUCUS, NJ — Start-ing this month, New Jer-sey Transit will offer visi-
tors, employees, hotel guests and commuters the opportunity to purchase NYC and other re-gional NJ Transit train and bus tickets at two kiosks located at the bus stop directly in front of 500 Plaza Dr. across from Em-bassy Suites Hotel in Harmon Meadow and another kiosk at the bus stop located adjacent to 200 Plaza Dr. across from the Hyatt Place hotel in Harmon Meadow.
The ticket kiosks will allow patrons to save time and skip long ticket lines at Secaucus Junction train station, and save money by purchasing same day tickets, including monthly bus passes, before they get on the trains. Both locations accept cash, credit cards and ATM cards.
Visitors to both bus shelters can catch a free weekday only shuttle to the Secaucus Junc-
Addedkiosksforregionaltrain/busticketpurchases
Hartz’sHarmonMeadowworkswithNJTransitS
200 Plaza Drivetion train station or pay fairs for buses to Port Authority Bus Terminal in New York, Newark’s Penn Station and Hoboken Station.
“We are thrilled to work with New Jersey Transit to provide train and bus tickets at our Harmon Meadow development,”
said Emanuel Stern, president and COO of Hartz Mountain Industries. “These bus stops service nearly 500,000 visitors and commuters per year—the kiosks will make their traveling or commuting to Manhattan or other areas of New Jersey much easier for them.” n
BLANDON, PA — Schlouch Incorporated has been named by Trexler Fields Twin Home Project, LLC to prepare the site for 15 twin homes and 3 single-family homes on Trex-ler Rd., Upper Macungie Twp.
SchlouchpreparessiteforTrexlerFieldsPhase4Kay Builders is developing the project.
Schlouch is providing survey, stakeout, sediment/erosion control, earthwork, sanitary and storm sewers, water line installation, roads, paving
and seeding. The project also includes the completion of Schaeffer Run Road.
Steve Funk is Schlouch’s site coordinator and Marty “MJ” Weller III is project coordina-tor/estimator. n
Keep an Even Keel
Quality Endures856-764-2600 | www.whitesellco.com
Whitesell designs, builds and maintainsits commercial spaces. Each tenant is unique — we work closely with our clients to achieve a balance of economy, function and aesthetic appeal. Over 90 buildings and 9 million square feet owned and managed in the Delaware Valley set Whitesell apart from its competition. Navigate change with confidence —call Whitesell today.
Laurel Corporate CenterMt. Laurel, New Jersey
www.marejournal.com Mid AtlanticRealEstateJournal—May11-24,2012—�A
Mid AtlAntic ReAl estAte JouRnAl
Have You Ever Considered Bundling The Services Your Facility Needs?
“Your Property . . . Our Pride”
WB
EC
Er
tifi
Ed
Con
sistEnt rEliaBlE s
Erv
iCE
KEEp Your faCilitYl
oo
Kin
gi
t’s
BEst
Headquarters10 Hilltop Avenue | Sewell | New Jersey, 08080
Toll Free: 888.896.1616 | Fax: 856.256.1312
Do BusinessWith One Service
Provider To Handle All Your Exterior Needs
ASHINGTON, DC — U.S. Secretary of Education Arne Dun-
can, U.S. EPA Administrator Lisa Jackson, and Chair of the White House Council on Envi-ronmental Quality Nancy Sut-ley announced Hampton Bays Middle School in Hampton Bays, NY, designed by BBS Ar-chitects, Landscape Architects and Engineers (BBS), a winner of the U.S. Department of Edu-cation Green Ribbon Schools program. The announcement ceremony took place at Stod-dert Elementary School in Washington, D.C. The 2012 competition is the first of the new program developed by the U.S. Department of Education in collaboration with the White House and the EPA.
“We are very proud of the White House, EPA and the U.S. Department of Educa-tion’s recognition of our project as one of the leading green schools in the nation,” said BBS president and principal Architect Roger Smith, AIA, LEED AP. “The innovative, healthy and environmentally responsible Hampton Bays
BBSArchitects,LandscapeArchitects&Engineers
FirstNationalGreenRibbonSchoolsprogramawardsW
Middle School is the result of a very close collaboration among the local community, parents, Hampton Bays Union Free School District and the design team. It was the Long Island community’s commitment to sustainable development that resulted in this remarkable, national accolade for a local Suffolk County school.”
“Schools that take a green approach cut costs on their utility bills, foster healthy and
productive classrooms, and prepare students to thrive in the 21st century economy,” said Nancy Sutley, Chair of the White House Council on Environmental Quality. “These Green Ribbon School award winners are taking outstanding steps to educate tomorrow’s en-vironmental leaders, and dem-onstrating how sustainability and environmental awareness make sense for the health of our students and our country.” n
FREEHOLD, NJ — Since obtaining a loan from Procida Funding’s 100 Mile Fund, Freehold Commons and its broker, CBRE, have brought the office development site from 10 percent to over 50 percent leased in less than one year.
Procida negotiated a dis-count from the original lender, provided funding for improve-ments, including construction of a classical lobby and en-trance, and designed a mar-
ProcidaFunding,FreeholdCommons&CBREcollaborateinuniqueapproachtofunding
keting plan for the project.“The recapitalization of half-
built projects is imperative to clearing all of the inven-tory on the market”, said John Mullane, principal at Procida Funding. “Acquiring proper-ties at the right price, using value engineering to keep construction costs down, and working with the borrower in repositioning the asset, are exactly the type of projects our 100 Mile Fund targets.”
Recent leases at Freehold
Commons include 5,670 s/f to Hobby Publications and 1,995 s/f to Sterne Agee.
“Procida provided the per-fect remedy to our situation,” said the principal of Freehold Commons. “They gave us more than just a loan. They renego-tiated our existing debt and were instrumental in reposi-tioning the property for the current market.”
Freehold Commons is a 40,000 s/f office development located at 83 South St. n
Hampton Bays Middle School
GREEN Services & SuppliersSPOTLIGHT
Deadline: May 18, 2012
• Building Managment• Environmental/Energy Audits & Consulting• Solar Power• Roofing and much more
Submit your expert article today! 550 words with author headshot and bioContact Michael Campisi
[email protected] | 800-584-1062 x 208
�A—May11-24,2012—Mid AtlanticRealEstateJournal www.marejournal.com
Mid AtlAntic ReAl estAte JouRnAl Auctions
NJ-PA-DE-NY-MD-VA
PA-MD-VA-W.VA
CALL NOW
FOR A FREE CONSULTATION
866.4 BIDDERS
HURLEY AUCTIONS
www.HURLEYAUCTIONS.com
See internet or call for terms and conditions or bidder’s packet.
Directions: From Interstate 80 and Route 42 interchange(Exit 232) continue on 42 north for approximately 3,000 ft.Properties are located on left & right side of Rt 42.Please watch for auction signs.
Follow us on...
• 100 EDU’ s would cost $350,000 to buy this amount of sewage capacity• High Traffic Area (see website for counts)• No Buyer’ s Premium, Bid Price is Sale Price• Zoned Commercial / Agricultural• Borders Columbia Mall, Near Walmart, Lowes, and Home Depot• Excellent Development Opportunity• Sewer Connections Available• Rt. 42 • Bloomsburg PA 17815 (Buckhorn)• Turn This Vacant Land Into a Prosperous Business Investment• 2% Realtor Participation Invited
COMMERCIAL LAND AUCTIONINCLUDING 100 EDU’ s -GREAT INVESTMENT OPPORTUNITY
60±ACRES
• 41 EDU’ s would cost $143,500 to buy• No Buyer’ s Premium, Bid Price is Sale Price• Sewer Connections Available• Near Columbia Mall, Walmart, Lowes, Home Depot• One Of The Largest Growing Exits Along Interstate 80• Rt. 42 • Bloomsburg PA 17815 (Buckhorn)• Borders Geisinger Medical Office Building (Employs 600 People)• Excellent Investment Property• Zoned Commercial / High Traffic Counts• 2% Realtor Participation Invited• Endless Opportunities
23±ACRES
COMMERCIAL LAND AUCTIONINCLUDING 41 EDU’ s -PRIME INVESTMENT
23± & 60± ACRES COMMERCIAL LAND AUCTIONSHeld on Site – Sat., June 16 @ Noon
Hemlock Township • Columbia CountyInterstate 80 and 42 interchange
Place your Business card
in our auction directory today!
Promote your auctions twice monthly
call linda today! 800-584-1062 x 203or email [email protected]
www.marejournal.com Mid AtlanticRealEstateJournal—May11-24,2012—�A
Make More MoneySpend Less Time
Managing Your Rental Properties
ForLandlords
ForProperty
ManagementCompanies
ForCondos and HOAs
Manage Properties with QuickBooks, by Gita Faust:
• is simple to use• cuts software costs• gives you control of your properties• lets you control your tenants• provides seamless integration with additional software• turns you into a PROFIT POWERHOUSE!
www.expertpublishers.com
Gita Faust, author and developer ofManage Properties with QuickBooks,is a leading expert in QuickBooksintegrated solutions and can provideassistance unique to your business.
ForCommercial Property
Managers
Call 215-579-1465
Discount Code: MAREJ01
Using Manage Properties with QuickBooks is like hiring a team of savvyproperty management consultants with a mentor, a business consultant,an accountant, and a property manager right at your keyboard.
Manage Properties with QuickBooks® is a complete and total solutionfor property management, real estate accounting and financialmanagement software.
8A—May11-24,2012—Mid AtlanticRealEstateJournal www.marejournal.com
MAY10–CREWLEHIGHVALLEYEvent:BethlehemBrownfieldTurnsGreenTime:4:00PM–�:00PMLocation:LehighUniversity-RauchBusinessCenter,Room8�Address/City:Bethlehem,PACost:MembersFree/$2�Guestswww.crewlehighvalley.org
MAY11–IREMNJEvent:EthicsfortheRealEstateManagerLocation:InterstateRealtyMgmt.OfficesAddress/City:Marlton,NJCost:$1��PremierMember$200ClassicMember&$220NonmemberE:[email protected]
MAY1�–CORENETEvent:ExpeditingtheProcess–Local,State&FederalApprovalsforNewProjectsLocation:DuquesneClub-WalnutRoomAddress/City:�2�SixthAve.,Pittsburgh,PAP:412-���-���2E:[email protected]
MAY1�–NAIOPNYEvent:19thAnnualGolfOutingTime:11:�0AMLocation:WestchesterHillsGolfClubAddress/City:401Ridgeway,WhitePlains,NYP:212-4�0-��00www.naiopnyc.org
MAY1�–TRISTATEEvent:LegalUpdatesinCommercialRealEstateTime:�:�0AM–11:�0AmLocation:DolceValleyForgeAddress/City:�01W.DekalbPike,KingofPrussia,PACost:$�0Members$��NonmembersE:[email protected]
MAY1�–TRISTATEEvent:Supply&DemandinaRecoveringMarketTime:11:4�AM–�:�0PMLocation:DolceValleyForgeAddress/City:�01W.DekalbPike,KingofPrussia,PACost:$�0Members$��NonmembersE:[email protected]
MAY1�–CORENETNJEvent:AgencyOverview–RiskManagementTime:8:00AM–12:00PMAddress/City:��LivingstonAve.,Roseland,NJCost:$40Members$��Nonmemberswww.corenetnj.org
MAY1�–IREMDELAWAREVALLEYEvent:ChapterMeeting&TourofTheQueenTime:4:�0PMLocation:WorldCaféLiveattheQueenAddress/City:�00N.MarketSt.,Wilmington,DECost:$��Members$��Nonmemberswww.irem�.org
MAY1�–SIORNJEvent:MembershipMeetingTime:�:�0PM–8:00PMLocation:StellaMarinaAddress/City:AsburyPark,NJwww.siornj.com
MAY1�–SMPSPHILADELPHIAEvent:RegionalPlanning:TheShapeofThingstoComeintheDelawareValleyTime:�:00PM–�:�0PMLocation:TheDowntownClub–PublicLedgerBldg.Address/City:�th&ChestnutSts.,11thFl.,Philadelphia,PACost:$��Members$��Nonmemberswww.smpsphiladelphia.org
MAY1�–ULIPHILADELPHIAEvent:ImpactofMarcellusShaleonSouthJerseyTime:8:00AM–10:�0AMLocation:CamdenCountyCollegeAddress/City:200CollegeDr.,Blackwood,NJP:800-�21-�011www.philadelphia.uli.org
MAY1�–BOMAPHILADELPHIAEvent:AnnualMeetingElections&ScholarshipAwardsTime:12:00NoonLocation:TheUnionLeagueAddress/City:140S.BroadSt.,Philadelphia,PACost:$��Members$80NonmembersP:21�-���-1���www.bomaphila.com
MAY1�–CREWPHILADELPHIAEvent:PastPresidentsBreakfastTime:8:�0AM–10:�0AMLocation:Davio’sNorthernItalianSteakhouseAddress/City:111S.1�thSt.,Philadelphia,PACost:$��Members$��Guest/Nonmemberswww.crewphiladelphia.org
MAY1�–NAIOPNJEvent:2�thAnnualCommercialRealEstateAwardsGalaTime:�:00PMLocation:ThePalaceatSomersetParkAddress/City:���DavidsonAve.,Somerset,NJCost:$4��Members$�4�Nonmemberswww.naiopnj.org
MAY 1� –APPRAISAL INSTITUTE NORTHEASTNEWJERSEYCHAPTEREvent:�thAnnualMeadowlandsConferenceTime:8:00AM–4:�0PMLocation:TeaneckMarriottatGlenPointeAddress/City:100FrankW.BurrBlvd.,Teaneck,NJCost:$1��Member$18�NonmemberP:201-�9�-11�1E:[email protected]
MAY18–IREMMDEvent:IREMGalaTime:�:00PMLocation:CongressionalCountryClubAddress/City:8�00RiverRd.,Bethesda,MDCost:$12�Members$2�0NonmembersE:[email protected]
MAY18–SIORNJEvent:MembershipMeetingTime:�:�0PM–8:00PMLocation:StellaMarinaAddress/City:900OceanAve.,AsburyPark,NJwww.siornj.com
MAY22–NJBIAEvent:�thAnnualNewJerseyEconomicPolicySummitTime:9:00AM–11:�0AMLocation:RutgersUniv.,EdwardJ.BlousteinSchoolofPlanning&PublicPolicyAddress/City:��LivingstonAve.,NewBrunswick,NJP:�09-�9�-��0�x-2�9 E:[email protected]
MAY22–TRISTATEEvent:TaxIssuesinCommercialRealEstateInvestmentsTime:�:�0AM–11:�0AMLocation:DolceValleyForgeAddress/City:�01W.DekalbPike,KingofPrussia,PACost:$�0Members$��NonmembersE:[email protected]
commerciAl reAl estAte orgAnizAtions’
events cAlendArMAY22–TRISTATEEvent:DistressedAssetsTime:11:4�AM–�:�0PMLocation:DolceValleyForgeAddress/City:�01W.DekalbPike,KingofPrussia,PACost:$�0Members$��NonmembersE:[email protected]
MAY22–ULIPHILADELPHIAEvent:NewMemberBreakfastTime:8:�0AM–10:00AMLocation:LanganEngineering&ServicesInc.Address/City:�0S.1�thSt.,Philadelphia,PAP:800-�21-�011www.philadelphia.uli.org
MAY22-2�–NJAAEvent:2�rdAnnualConference&ExpoLocation:AtlanticCityConventionCenterAddress/City:AtlanticCity,NJwww.njaa.com
MAY�1–ULIPHILADELPHIAEvent:FocusonKensington-SummerTour&HappyHourTime:4:00PM–�:�0PMLocation:FrankfordHallAddress/City:1210FrankfordAve.,Philadelphia,PACost:$��Members$�0NonmembersP:800-�21-�011www.philadelphia.uli.org
JUNE�–CREWLEHIGHVALLEYEvent:TheArtofNetworkingTime:8:�0AM–10:00AMLocation:LehighUniversity–UniversityCenterFacultyRoomCost:Members&InvitedGuestsFreewww.crewlehighvalley.org
JUNE�–ULIPHILADELPHIAEvent:GlobalMarketplaceTime:�:�0AM–�:00PMLocation:TheUnionLeagueAddress/City:140S.BroadSt.,Philadelphia,PAP:800-�21-�011www.philadelphia.uli.org
JUNE�–SIORNJEvent:GolfOutingTime:11:�0AMLocation:EssexCountryClubAddress/City:��0Mt.PleasantAve.,W.Orange,NJwww.siornj.com
JUNE11–ABCEPAEvent:AnnualGolfOutingTime:9:00AMLocation:PhiladelphiaCricketClub-MilitiaHillCourseAddress:�02�W.ValleyGreenRd.,Flourtown,PAE:[email protected]
JUNE11–CIRCDEEvent:AnnualGolfOutingTime:11:00AMLocation:DuPontCountryClubAddress/City:1001RocklandRd.,Wilmington,DEP:�02-���-1�0�E:[email protected]
JULY12Event:LakewoodRegionalBusinessExpo&NetworkingEventTime:Noon–4:�0PMLocation:LakewoodIndustrialPark,LakeTerraceHallAddress/City:1�90OakSt.,Lakewood,NJP:��2-��4-2�00Ext.�2��E:[email protected]
www.marejournal.com Mid AtlanticRealEstateJournal—May11-24,2012—9A
CHATHAM, NJ — Cron-heim Mortgage has arranged $12,500,000 in five separate transactions for Office, retail and multifamily properties in New York, New Jersey and Maryland. This brings the firm’s total volume for the last four months to $333,625,000, covering properties in eight states, which also include Pennsylvania, Connecticut, Oklahoma, Arizona and Ten-nessee. These transactions involved note purchase fi-nancings, first mortgages, construction loans, forward commitments, and preferred equity.
In Manhattan, Cronheim Mortgage has arranged fi-nancing of $6,000,000 for 1270 Broadway, a 14-story multi-tenanted class B of-fice building. The five-year loan was placed with Aviva Life and Annuity Company, whom Cronheim represents as correspondent and servic-ing agent. Built in 1912 and situated on 8,525 s/f of land, the property consists of 12 stories plus a penthouse suite and basement. The ground floor is leased to two retail
CronheimMortgagecloses$���.�2�millioninthelast4months
C LARKSVILLE, TN — Cooper-Horowitz, Inc. recently arranged
financing for the following properties:
Fort Campbell Indepen-dence Place Apartments, 3193 Fort Campbell Boule-vard, Clarksville, Tennessee: 228 unit multi family rental community. The loan was for $20,800,000.
The firm was represented by Matthew Paul, Justin Schact-er and Jayson Schwartz for the above transaction.
Fort Stewart Independence Place Apartments, 1300 Inde-pendence Place Drive, Hines-ville, Georgia: 264 unit multi-family rental community. The loan was for $27,000,000.
The firm was represented by Matthew Paul, Justin Schact-er and Louis Mirando.
tenants, with Duane Reade occupying a total of 12,800 s/f including basement and mez-zanine spaces.
In Plainsboro, NJ, Andrew Stewart and Lisa McMahon have arranged financing of $3,000,000 for a four-build-ing office property located on Plainsboro Road. Built in the late 1970’s, the 44,000 s/f property is 98% occupied by mostly medical-related ten-ants. The property is located three miles east of Route 1 and the new University Medical Center of Princeton, which is slated to open in May 2012. The non-recourse loan was placed with a local bank on a 10-year term and 25-year amortization.
In Franklin Lakes, NJ, Ja-net Proscia arranged financing of $1,750,000 for a 18,350 s/f single tenant office/warehouse building located on Commerce Road. The client needed to take out existing financing, but in a declining value en-vironment, had struggled for nearly two years to find a lender who could understand the intricacies of the deal. Ultimately, Cronheim secured
a 7-year loan at 4.85% for the borrower.
In Bethesda, MD, David Turley and Lisa McMahon se-cured financing of $1,115,000 for a 331,618 s/f parcel ground-leased to a subsidiary of Home Depot. The parcel is improved with a 108,908 s/f Home Depot and an inline building contain-ing approximately 32,600 s/f. The property is 200 yards west of I-270 and is situated direct-ly across the street from the Westfield Montgomery Mall. The original ground lease dates back to 1980, when the property was developed as a Hechinger home improvement store. The lease and leasehold interest were subsequently sold to Home Depot in 1999 after Hechinger closed.
In Irvington, NJ, David Turley and Lisa McMahon ar-ranged financing of $600,000 for a five-building, 22-unit apartment complex located on Elmwood Avenue. Constructed in the 1960’s, the brick build-ings are comprised entirely of one-bedroom units. The non-recourse loan was placed with a local bank on a 7-year term and 25-year amortization. n
Largestloantotals$2�mfor2�4unitmulti-familyrentalcommunityinGeorgia
Cooper-Horowitzarranges$81.�millioninfinancing
44 North Broadway, White Plains, New York: 163 units, 6 story apartment complex. The loan was for $10,500,000.
727 Bronx River Road, Bronxville, New York: 79 unit apartment complex. The loan was for $3,500,000.
The firm was represented by Schacter and Jeffrey Horowitz for the above two transactions.
Palm Breeze at Keys Gate: 1140 SE 24th Road, Home-stead, Florida. 375 Town Homes. The loan was for $14,500,000.
The firm was represented by Bruce Marcus and George
Stergiopoulos for the above transaction.
137 Franklin Street, New York, New York: Condomini-um apartments. The loan was for $5,000,000.
The firm was represented by Jerry Sobol and Nick Barbato for the above trans-action. n
Fort Stewart Independence Place Apartments
Fort Campbell Independence Place Apartments
Financial Digest
1270 Broadway
FinAnciAl digest
10A—May11-24,2012—FinancialDigest—Mid AtlanticRealEstateJournal www.marejournal.com
he Federal Reserve’s Open Market com-mittee on April 24th
and 25th , as expected, again le f t short term i n t e r e s t rates alone. That is con-sistent with their earlier statements t h a t t h e y would keep rates low through 2014.
I think “everyone” now has
ByBruceJ.Coin,BruceCoinConsulting,Inc.
Thecurrentcommercialmortgagemarket
realized that there is no im-minent threat of a “double dip” recession and that the economy is truly on the verge of a self-sustaining recovery notwithstanding the “oil price” wildcard. The GDP is growing at a rate of 2 percent or better and while not the roughly 3 percent seen for 2011 it is a positive upside statistic. The “Fed’s “target for this year is about 2.6 percent. Nationally, unem-ployment has fallen below 9.0 percent. Consumer and business spending are the
sustaining forces. Automo-bile sales are up dramatically increasing from about $6 mil-lion in sales during the recent recession years to about $14 million last year. For many years economic growth was backed by auto sales and new construction. If that latter contributor starts perform-ing the economy will really pick up.
As guidance, and certainly with exceptions, I am seeing interest rates for commercial mortgages being provided in the very wide range of 3.75
percent to 6.00 percent for most well (90 percent) leased income properties. 5 and 10 year balloon terms are most prevalent for multitenant properties. The lowest rates and highest loan to value ratios are being obtained by quality multifamily proper-ties and long term net leased single tenant credit leased transactions. Overall “cap rates” for apartments are running at about a full 1 per-cent or more below those for other property types. Some multitenant offices with less
than 90 leasing are being fi-nanced but at levels of 60-65 percent LTV.
Rates increased by about a quarter point since late March but should soften again. The rates jumped be-cause the benchmark 10 year treasury increased from sub- 2.00 percent to 2.38 percent by March 19th. The treasury has steadily declined since then. As of April 26th it was back under 2.00 percent. It appears to be a nervous in-vestor market over-reacts to the slightest bit of bad news, local or worldwide.
The agencies, Fannie and Freddie, for the right prop-erty, will offer close to 80 percent LTV financing and with 30 year amortizations. A DSCR of 1.20 seems achiev-able and if not then 1.25. I am seeing credit leased financing transactions still being un-derwritten with DSCRs as low as 1.05 times. Insurance companies and many banks are all active. CMBS II is struggling for a comeback after an early year start that tailed off but sooner or later that will rebound.
Apartment construction is on the upswing as lend-ers see increased demand. Supporting the need for new apartments is a recent state-ment by the Mortgage Bank-ers Association’s that “ We’re generating an average of one million new renter house-holds per year”.
In mid-April over 400 members of the real estate finance committee met in Washington to discuss the future and to try to again define a “Qualified Mortgage” and the related “premium re-capture” concept. It appears to me that the Dodd-Frank Act erred by opening the door for such a loop hole. If every lender selling a loan had to retain a 5 percent first risk of loss position, with no ex-ceptions, the problem would not exist. They would either hold loans “on book” or if they decided to sell they would take the risk. There would be no fear that lenders would “discriminate” and only take “qualified mortgages” and thus adversely impact cer-tain borrowers.
BruceJ.CoinisdirectorofBruceCoinConsulting,Inc.n
T
Bruce J. Coin
Convenient Offices Throughout New Jersey
columbiabankonline.com
Member FDIC
Who can Your Business count on today?Just like your customers can count on you to give them “service with a smile,” you can Count on Columbia, the Business Bank of New Jersey, to give you the financial products and services you need to succeed. And you can always Count on Columbia to remain true to the principles of community banking. To
visit your nearest Columbia Bank office.
Count on Columbia.
Business Checking Online Banking Retirement Plans
FinAnciAl digest
www.marejournal.com Mid AtlanticRealEstateJournal—FinancialDigest—May11-24,2012—11A
Real estate Financing
$27,000,000
51 East 42nd StreetNew York, NY 10017(212) 986-8400 Fax: (212) 983-0512www.cooper-horowitz.com
FORT STEWARTINDEPENDENCE PLACE APARTMENTS1300 INDEPENDENCE PLACE DRIVE
HINESVILLE, GEORGIA
264 Units in 13 three story garden style apartments
The undersigned arranged the above financing
$20,800,000FORT CAMPbELL
INDEPENDENCE PLACE APARTMENTS3193 FORT CAMPbELL bOULEVARD
CLARkSVILLE, TENNESSEE
228 Units in 13 three story garden style apartments
FinAnciAl digest
12A—May11-24,2012—FinancialDigest—Mid AtlanticRealEstateJournal www.marejournal.com
example, current stock price for shares owned. Level One is the most accurate level of inputs and does not have sub-jective components. The use of Level One inputs is rare in property valuations since no two buildings or parcels of land are identical.
Level Two inputs are quoted prices for similar assets in ac-tive or inactive markets. For example, actual recent sales data for properties that are similar to the subject prop-erty. Level Two requires more judgment from owners and those determining fair value. In the last few years, the market for real estate sales has fluctuated significantly, reducing the availability and reliability of Level Two in-puts. In addition, many real estate transactions that have occurred were based on dis-tressed circumstances, such as forced or foreclosure sales or properties with inadequate working capital. ASC 820 provides that fair value mea-surements are to be based on an orderly sale and should not consider forced sales or distressed circumstances.
Volatility in the real es-tate and capital markets is pressing owners and those estimating the fair value of real estate to utilize Level Three inputs. Level Three inputs, which are the most subjective, are based on un-observable inputs.
DeterminingFairValueUsingLevelThreeInputs
A common valuation tech-nique utilized in determin-ing fair value under Level Three is a discounted cash flow model. The typical model uses a financial forecast con-sisting of projected cash in-flows and cash expenditures for the real estate over the next 11 years. A presumed sales price is determined based on the eleventh year net cash flows and a capital-ization (CAP) rate. Net cash flows for the first 10 years and the presumed sales price are then discounted to the present value using a market internal rate of return (IRR) to determine the fair value of the real estate as of the measurement date.
Owners typically use third-party brokers to provide a range of IRR and CAP rates. Concurrent with the fluctuating real estate sales, CAP rates have fluctuated significantly due to buy-
ers’ skepticism about the market and the availability of financing. Factors that distinguish the CAP rate for properties include location, age, size, features, exist-ing tenants, etc. The IRR is the rate of return that an investor expects to receive on their investment. Riskier investments, for example, investments where cash flows are volatile or construction is not complete, will require a higher IRR. It is the owner’s responsibility to review the market transactions and determine which rates most closely line up with the char-acteristics of their real estate. Since there is a significant amount of subjectivity in this area, owners should clearly document all of the informa-tion received, how the infor-mation compares to their property, and the reasons for ultimately choosing the IRR and CAP rates utilized in the final valuation.
As you can see, Level Three valuations are based on cur-rent market conditions and a projection of events to oc-cur in the future, i.e., lease renewals, absorption rates on vacant spaces, inflation rates, capital expenditures, etc. Even a small change in the cash flows, IRR or CAP rate could change the property’s fair value by a significant amount. The key for inves-tors is to understand the un-derlying inputs and assump-tions utilized in determining the fair value and realize this is the owner’s estimate as of the measurement date. The increased transparency required by ASC 820 will help investors understand the inputs and assumptions utilized in determining the reported fair value of the real estate. As investors become more familiar with the finan-cial statements and disclo-sures explaining the owner’s estimates, the understanding of fair value accounting will increase.
JoycePriceisaprinci-pal and Karyn Tasker isa manager in the Balti-more,MDofficeofReznickGroup.n
This publication contains only gen-eral information and is not intended by Reznick Group to be a rendering of accounting, business, financial, investment, legal, tax or any other professional advice or services. This publication is not a substitute for any professional advice or services.
continuedfrompage2A
What investors need toknowaboutfairvalue...
HILADELPHIA, PA — HFF arranged a $66.25 million construction loan
for The Granary, a mid-rise multi-housing development in Center City, Philadelphia’s Logan Square neighborhood.
HFF worked on behalf of the borrower, Pearl Properties, to secure the three-year construc-tion loan through Wells Fargo Bank.
The HFF team represent-ing Pearl Properties was led by managing director Jim Cadranell.
“It was a pleasure to repre-sent Pearl Properties on this assignment to help create a first class property in one of the hottest apartment markets in the country,” said Cadranell.
In Nutley, NJ HFF closed the sale of and arranged financing for a three-property, 126-unit multi-housing portfolio.
HFF marketed the offering on behalf of the seller, AIG Global Investment Group. Balt Investments LLC purchased the assets for $15 million free and clear of debt.
The portfolio is 94% leased overall. The properties include
Alsoclosessale/positionsfinancingforNJportfolio
HFF arranges $��.2�mPhila.constructionloan
Greylock Apartments, Lincoln Apartments and Ambassador Apartments.
The properties are the second pool of assets HFF has sold for AIG Global Investment Group. In July 2011, HFF closed the $241.5 million sale of a 2,185-unit multi-housing portfolio in central New Jersey.
The HFF team representing AIG Global Investment Group included senior managing di-rectors Jose Cruz and Andrew Scandalios, directors Jeffrey Julien and Kevin O’Hearn and associate Mike Oliver.
The Granary in Center CityHFF senior managing direc-
tor Jon Mikula represented the borrower.
“The buyer was able to capi-talize on an opportunity to purchase quality assets in Nutley with upside, where he already owned real estate so there are economics of scale,” said Cruz. “AIG obtained solid pricing and was able to take advantage of a strong demand for that submarket.”
“The properties are well-positioned for an upgrade and will provide good long term growth,” added O’Hearn. n
P
NEW YORK, NY — Mortgage brokerage firm Eastern Union Commercial has arranged $34 million in refinancing for a four-building, 580-bed skilled nursing portfolio in New York and New Jersey.
Provided through M & T Bank, the $34 million loan was financed at 5.03%. Abraham Bergman, managing partner of Eastern Union, negotiated the loan on behalf of the bor-rower, a privately held nursing home owner and management
EasternUnionorganizes$�4mmulti-staterefinancingforafour-buildingportfolio
company.Bergman explained that
while financing of medical fa-cilities has become increasingly difficult given the numerous medical and healthcare cuts in today’s market, he was able to close this transaction by work-ing with M & T Bank to help mitigate the risk, packaging the four buildings together.
“With volatility in the Med-icaid and Medicare rates being paid to facilities, forecasting projections are extremely dif-
ficult,” he said. “The chal-lenge in closing this loan was compounded in that we were working with properties in two different states and thus two different rate systems.”
Bergman noted that Eastern Union faced a key hurdle in closing this transaction. One of the loans being paid off with the refinance was due December 31, 2011. But despite reluctance from the lender to do so, East-ern Union negotiated a 3 month extension. n
MORRISTOWN, NJ — G.S. Wilcox & Co. announced that Gretchen Wilcox, Al Raymond and David Fryer, president and principals of the firm arranged $35.5 million in financing in the month of March. The two retail transactions, one of which was on Long Island and the other in South Jersey, involved key market players including A New Jersey based real estate fund, Arlona Limited Partner-ship, Prudential and Genworth Financial.
David Fryer, principal of G.S. Wilcox & Co., originated the Long Island transaction for $26 million involving Arlona Lim-ited Partnership and Genworth Financial. The loan is secured by Mayfair Shopping Center in Commack, NY. This transac-tion provides favorable terms for both parties including an interest only amortization for the full 11 year term of the loan. Levin Management manages the asset for the ownership and was instrumental in helping
with the refinancing. Gretchen Wilcox and Al Ray-
mond, president and principal of the firm originated the South Jersey transaction involving A New Jersey based real estate fund and Prudential for $9.5 million. The loan is secured by Towne Square, a multi-ten-anted 88,380 s/f retail center located in Mount Laurel, NJ. This transaction offered fa-vorable terms to both parties including a 7/25 amortization schedule and low LTV. n
G.S.Wilcox&Co.closes$��.�minMarch
FinAnciAl digest
www.marejournal.com Mid AtlanticRealEstateJournal—FinancialDigest—May11-24,2012—1�A
180 Sylvan Avenue Englewood Cliffs, NJ 07632 | P 201-947-2300 | F 201-947-2323 | Deerwoodcap.com
$3,470,000AcquisitionMonroeville, PARite Aid – Retail13,000 S/F
$5,850,000RefinancePhiladelphia, PAMultifamily100 Units
$3,900,000AcquisitionNewark, NJGarden Apartments90 Units
$2,360,000AcquisitionNewark, NJMultifamily45 Units
UMBERLAND, MD — Love Funding an-nounced the closing
of a $9.22 million loan refi-nancing for Allegany Health Nursing and Rehabilitation Center.
Love Funding senior direc-tor Laura Saull-Smith of the Washington office secured the loan through the U.S. Depart-ment of Housing and Urban Development’s 232/223(f) loan program. Using the program enabled Saull-Smith to lock in a low fixed interest rate over a 35-year term.
HUD’s 232/223(f) loan insur-ance program allows for the purchase or refinance of senior housing properties that are at least three years old and have not undergone any substantial rehabilitation in the last three years.
The subject property is owned by Allegany Healthcare Group LLC and operated by Mid-Atlantic of Cumberland LLC.
In Amherst, Massachusetts, Love Funding closed a $6.56 million loan refinancing for Brandywine at Amherst Apart-ments, a 180-unit apartment complex.
Saull-Smith secured the loan through the U.S. Depart-ment of Housing and Urban Development’s 223(a)(7) loan program. Using the program enabled Saull-Smith to lock in a low fixed interest rate and ex-tend the loan back to its origi-nal 35-year term, generating more than $90,000 of annual debt service savings.
Brandywine consists of 60 one-bedroom units and 120 two-bedroom units. The com-plex was built in 1973 and has been refinanced by Love Funding twice before to secure a lower interest rate.
“We had such a great experi-ence with Love Funding in the past, and we really benefited from coming back once again with essentially the same team in place,” said Erica Arbron, president of Snow Asset Man-agement Inc. “It really couldn’t have gone any better.”
HUD’s 223(a)(7) program, which covers the refinancing of existing FHA-insured multi-family rental properties, allows up to 12 years to be added to the remaining term on existing HUD-insured loans, as long as it does not exceed the original term. n
U.S.Dept.ofHousing&UrbanDev.’s2�2/22�(f)loan
Love Funding secures$9.22millionrefinancingC
Allegany Health Nursing and Rehabilitation Center
HARRISBURG, PA — Llen-rock Group, an independent advisory firm in Philadel-phia, has se-cured a to-tal of $9.75 mil l ion in permanent financing for a Courtyard by Marriott.
T h e h o -tel features over 100 rooms and is lo-cated outside of Harrisburg, PA. Its loan was provided by Bank of America Merrill Lynch. Though it is custom-ary for the lender to review the prior 14-24 months of loss/profit data, the lender only reviewed records for the
Llenrockcloses$9.��minpermanentfinancing
previous 12 months because of the hotel’s strong perfor-mance.
According to Andrew Be-nioff, Llenrock’s founder and managing partner, “We weren’t initially focused on Central Pennsylvania, but it has shown surprising funda-mentals and resiliency over the last few years. That in conjunction with the experi-ence and background of our borrower contributed to a successful deal.”
Located near the state capitol and the Pennsylva-nia Turnpike, the hotel also benefits from nearby market drivers such as Hershey Park and Pennsylvania Dutch Country. n
Andrew Benioff
MaReJ Monthly sales anD lease RepoRtAs Reported In The Mid-Atlantic Real estate JouRnal ~ apRil 13 - May 10, 2012
Westgate.SC. Manassas,.VA. . CBRE. Katz.Props. CBRE. $33.855m. 172,000.SF. Retail. S. FC-A. WI,.MD,.VA,.NC.NJ. Liberty.Prop.Trust. . . . $195m. 49.Prop.Portfolio. Off/Flex. S. 14A. New.Jersey. . . . . Gebroe-Hammer. $55.15m. 874.Units. Apt. S. 15ASeasons.at.Sparta. Sparta,.NJ. 84.Sparta.Ave.,.LLC. . Gebroe-Hammer. . . $3.2m. . Apt. S. 15AMontessori.Country. Plainsboro,.NJ. . . Marcus.&.Millichap.NJ. . . $3.4m. 13,500.SF. School. S. 17ADay.School. . . . . . . . . .345.Union.St. Hackensack,.NJ. American.Red.Cross. NAI.Hanson. . . . . 4600.SF. Off. S. 18A5.Fitzgerald.Ave. Monroe.Twp.,.NJ. Matrix.Dev. . TYC/Genera.Corp. . . . 239,000.SF. Whse/Dist. L. 19A17.S.Middlesex,.Ave..Monroe.Twp.,.NJ. Matrix.Dev. . Priority.Post. Lance.Bram.Comm’l.Brokerage. . 40,000.SF. Whse. L. 19A99 Wood Ave Woodbridge, NJ Cornerstone RE Advisors Cushman & Wakefield Greenbaum, Rowe Smith Colliers Int’l. 52,723 SF Off L 19A. . . . &.Davis.LLP. . . . . .Harborside.Financial.Ctr. Jersey.City,.NJ. Mack-Cali. . Tower.Insurance. CBRE. . 76,892.SF. OFF. L. 20AOne Meadowlands Plaza East Rutherford, NJ KBS Realty CBRE MWW Grp Cushman & Wakefield 420,000 SF Off L 21ARiver Dr Ctr 3 Elmwood Park, NJ Spenser Savings Bank Cushman & Wakefield 40,000 SF Off L 21A300 Harmon Blvd Secaucus, NJ Samson Mgmt Newmark Knight Frank Kroll Ontrack Cushman & Wakefield 11,000 SF Off L 21ARutgers.Casualty.Bldg. Cherry.Hill,.NJ. 2250.Chapel.Ave. Markeim-Chalmers. UMDNJ. Markeim-Chalmers. . 7500.SF. Medical. L. 28A309.Fries.Mill.Rd. Sewell,.NJ. . . Velocity.Sports/Rothman.Inst. Markeim-Chalmers. . 14,000.SF. . L. 28A5090.Central.Hwy. Pennsauken,.NJ. . . WIS.Int’l.,.Vital.Network.Svcs. Markeim-Chalmers. . 10,000.SF. . L. 28ACherry.Hill.Plaza. Cherry.Hill,.NJ. CHP.Assoc. Markeim-Chalmers. Ramoco.Fuels. Markeim-Chalmers. . 1200.SF. Off. L. 28A901.Lincoln,.NJ. Mt..Laurel,.NJ. Hill.Props. CBRE. TJX.Cos. . . . 9874.SF. Off. L. 28AThe.Commons.on.Potomac.Sq.Potomac.Falls,.VA. Comstock.Homebuilding. Broad.Street. . . . $19.35m. 112,000.SF. Apt. S. 43APark.Raven. Baltimore,.MD. Continental.Realty. CBRE. Tryko.Ptrs. . . . 253.Units. Apt. S. 43AAirpark.Place. Gaithersburg,.MD. First.Potomac.Realty.Trust. McShea.&.Co.. Jerneb.Corp. . . $5.45m. 82,414.SF. Ind. S. 43A1841 Columbia Rd NW Washington, DC Fairfield Residential UIP & IRE $26m 114 unit, Mixed use S FC-A. . . . . . . . . 20,000.SFHall.of.the.States.Building. Washington,.DC. Mebar.Realty.Holding. . SSO. WLS. . 237,848.SF. Off. L. FC-A3700.Industrial.Rd. Harrisburg,.PA. KTR.Harrisburg. CBRE. FEI.Cold.Storage. . . . . .Redland.Corp.Ctr. Rockville,.MD. . . Notable.Solutions. . . . 24,477.SF. Off. L. 45ARedland.Corp.Ctr. Rockville,.MD. . . Greenman-Pedersen. . . . 7897.SF. Off. L. 45ATown.Square.SC. Mount.Laurel,.NJ. . Marcus.&.Millichap.Phila. . . . $19m. 88,380.SF. Retail. S. FC-BTrapp.Strip.Ctr. Collegeville,.PA. . Marcus.&.Millichap.Phila. . Marcus.&.Millichap.Phila. $1.618m. 10,664.SF. Retail. S. FC-BBrookhill.Azalea.SC. Richmond,.VA. . Divaris.RE. BSV.Premiere.Brookhill. . . $8.95m. 162,000.SF. Retail. S. FC-BTidewater.Plaza. Virginia.Beach,.VA. . Divaris.RE. Tidewater.Finance. . . . 25,516.SF. Retail. L. 6BMidlothian.Crossing. Richmond,.VA. Midlothian.Assoc. Divaris.RE. Big.Lots. . . . 26537.SF. Retail. L. 6BMidlothian.Crossing. Richmond,.VA. Midlothian.Assoc. Divaris.RE. Genuine.You.Salon. . . . 2400.SF. Retail. L. 6BFood.Lion. Concord,.NC. Food.Lion. Divaris.RE. Oakboro.Tractor.&.Equip... . . 9090.SF. Retail. L. 6BSix.Columbus.Ctr. Virginia.Beach,.VA. Five.Columbus.Center. Divaris.RE. StellarOne.Bank. . . . 5441.SF. Retail. L. 6BTown.Ctr. Virginia.Beach,.VA. . Divaris.RE. Keagan’s.Irish.Pub. Divaris.RE. . 1996.SF. Retail. L. 6BTown.Ctr. Virginia.Beach,.VA. . Divaris.RE. Coffee.Etc. Divaris.RE. . 1623.SF. Retail. L. 6BAzalea.SC. Richmond,.VA. . Divaris.RE. TitleMax.of.Virginia. . . . 3924.SF. Retail. L. 6BSalem.Crossing. Virginia.Beach,.VA. . Divaris.RE. RadioShack. . . . 2461.SF. Retail. L. 6B. . Virginia.Beach,.VA. . Divaris.RE. R&R.Home.Repair. . . . 1945.SF. Retail. L. 6BOne.Loudoun.Ctr. Ashburn,.VA. Potomac.Dev.Grp,.. . Alamo.Drafthouse.Cinema. . . . 34,000.SF. Retail. L. 6B. . . Miller.&.Smith.Charter.Realty. . North.America.Sekiui.House. . . . . . . .Rte.1. Philadelphia,.PA. SRD. Colliers.Int’l..Bottom.Dollar. . Fameco. . 19,600.SF. Retail. L. 7BTower.Market. Eatontown,.NJ. . Stafford.Smith. Dollar.General. Stafford.Smith. . 9500.SF. Retail. L. 7B950.F.St. Washington,.DC. Douglas.Dev. . J.Crew. . . . 8625.SF. Retail. L. 8B950.F.St. Washington,.DC. Douglas.Dev. . The.Art.of.SpYn. . . . 5272.SF. Retail. L. 8BKennedy.Mall. Brick.Twp.,.NJ. . . Buffalo.Wild.Wings. Fameco. . 6200.SF. Retail. L. 9B324.George.St. New.Brunswick,.NJ. . . GNC. Goldstein.Grp. . 1300.SF. Retail. L. 9B243.Sparta.Ave. Sparta,.NJ. . . TCBY. Goldstein.Grp. . 1400.SF. Retail. L. 9BCopper.Tree.SC. Oakland,.NJ. Goldstein.Grp. . .. . . . 2500.SF. Retail. L. 9BNewberry.Pointe. Etters,.PA. . CBC.Bennett.Williams. . CBC.Bennett.Williams. . 1500.SF. Retail. L. 15BLancaster.SC. Lancaster,.PA. Federal.Realty.Inv.Trust. . Sweet.Frog. CBC.Bennett.Williams. . 2000.SF. Retail. L. 15BWayne.Plaza. Chambersburg,.PA. Wayne.Avenue.Plaza. CBC.Bennett.Williams. Raylon.Store.Props. CBC.Bennett.Williams. . 2000.SF. Retail. L. 15BState.Street.Plaza. Lemoyne,.PA. State.Street.Plaza.Assoc. CBC.Bennett.Williams. Pazazzz. CBC.Bennett.Williams. . 2475.SF. Retail. L. 15BShippensburg.SC. Shippensburg,.PA. Hill.Mgmt.Svcs. CBC.Bennett.Williams. Better.Days.Animal.League. CBC.Bennett.Williams. . 3200.SF. Retail. L. 15B1225-27.Chestnut.St. Philadelphia,.PA. . Colliers.Int’l... Tates.Mensware. Colliers.Int’l... . 18,000.SF. Retail. L. 15B
. . . SELLER/. REP..OF.. BUYER/. REP..OF.. . . . .
. PROPERTY. . OWNER/. SELLER/. TENANT/. TENANT/
. NAME. ADDRESS. LESSOR. LESSOR. LESSEE. BUYER. PRICE. SIzE. DESC..S/L. PG
. . . SELLER/. REP..OF.. BUYER/. REP..OF.. . . . .
. PROPERTY. . OWNER/. SELLER/. TENANT/. TENANT/
. NAME. ADDRESS. LESSOR. LESSOR. LESSEE. BUYER. PRICE. SIzE. DESC..S/L. PG
14A—May11-24,2012—FinancialDigest—Mid AtlanticRealEstateJournal www.marejournal.com
www.marejournal.com Mid AtlanticRealEstateJournal—May11-24,2012—1�A
YATTSVILLE, MD — ING Real Estate Finance closed on a $20
million first mortgage financ-ing secured by The Metropoli-tan Shops at Prince George’s Street Station, a 160,623 s/f re-tail and office property located at 2950 Belcrest Center Dr.
The property is 100% owned by Westbrook Real Estate Fund VIII, which is owned and managed by Westbrook Partners.
Located in a Washington D.C. suburb, The Metropolitan Shops is a new construction complex completed in 2009 and is anchored by L.A. Fitness, Bob’s Furniture, Staples and Citibank.
The loan has a four-year
Dealsecuredby1�0,�2�s/fmixed-usepropertyinWashington,D.C.suburbs
INGRealEstateFinancecloseson$20mfirstmortgagefinancingforWestbrookREFundVIIIH
SOMERSET COUNTY, MD — Ben Alder, advisor with Sperry Van Ness – Miller Commercial Real Estate an-nounced that 800 acres has sold in Somerset County for $3.2 million. The farm was purchased for agricultural pro-duction by a local family farm. Consisting of approximately 600 acres of tillable agricul-tural land and 200 acres of woodland in multiple parcels, the land is situated near the
town of Westover, MD.This sale indicates the
strength and importance of the agricultural sector and the overall strength of the economy on the Eastern Shore of Maryland. Agriculture is still the largest commercial industry on the Eastern Shore, generating jobs and sales for farm products; with poultry and nursery businesses and farms growing corn, soybeans, and other crops. Farming is
critical to the economy and the way of life of its residents. Alder stated “This represents the sale of a $3M business in my view and this small business produces jobs and economic benefits to our com-munity and other small busi-nesses throughout the region. I am pleased to see the farm remain as farmland knowing the economic impact agricul-ture provides on the Eastern Shore.” n
SperryVanNess–Millerannounce800acressaletotaling$�.2million
Long Farm Creek view
WASHINGTON, DC — Cas-sidy Turley arranged the sale of 1375 Piccard Dr. and has been selected to provide leasing and property man-agement services for the new owner, Brookfield Property Group. The 110,000 s/f, 3-sto-ry building, located in Rock-ville sold for an undisclosed amount. Cassidy Turley’s Bill Collins, Paul Collins, Drew Flood, Jud Ryan and James Cassidy represented the seller. Paul “Rocky” Kern, senior vice president, will lead the leasing efforts, and Deborah Marshall, vice presi-dent, will oversee the property management. The new owner
has rebranded the build-ing as “Monarch” and has several planned renovations including a complete lobby renovation and a mechanical systems upgrade.
“This transaction and as-signment demonstrates Cas-sidy Turley’s ability to provide a full spectrum of integrated commercial real estate ser-vices to our clients,” said Joe Stettinius, president of Cassidy Turley. “We look forward to helping Brookfield maximize their return on this investment with our best-in-class leasing and property management services,” he continued. n
CassidyTurleyrepsBrookfieldPropertyGroupin110,000s/fRockvilleacquisition
1375 Piccard Drive
2950 Belcrest Center Dr.
term, with a one-year exten-sion option. The borrower also purchased an interest rate cap for three years from ING Capital Markets.
“We are pleased to expand our relationship with Westbrook here in the United States,” said Michael Shields, manag-ing director of ING Real Estate Finance (USA). “Westbrook is an international client that established an ING REF-UK relationship when completing the Shell Mex House financ-ing in 2011. This is a perfect example of a transaction that showcases our client-led strat-egy and how we can readily serve clients on the national and international level.” n
delMARVA
1�A—May11-May24,2012—DelMarVa—Mid AtlanticRealEstateJournal www.marejournal.com
Delaware River Industrial Park
Twin Spans Business Park,City of New Castle, DE
• +/– 135 Acre Business Park in the City of New Castle
• Minutes away from I-95/I-295, and Routes 9 & 13.
• Site offers convenient access to the Delaware Memorial Bridge, Port of Wilmington and the entire northeast corridor.
• Perfect for Office, Laboratory or Manufacturing / Distribution
• Recently completed new access boulevard with signal controlled intersection on Route 9.
• Park tenants include:Winterthur Catalog Operations,Hibbert Group,Tire Rack, Speakman Co., Mattress Giant, Schindler Elevator, Philadelphia Gear,Agilent Technologies
Newport Industrial Park
For more information: Phone (302) 323-9300 Fax (302) 323-495129 East Commons Boulevard, Suite 100, New Castle, Delaware 19720
Operating and Managing over 3 Million Square Feet of Industrial and Commercial
Real Estate in the Mid Atlantic Region
• 45 Acres of industrial zoned land (HI) located ideallynear the Port of Wilmington, the Delaware MemorialBridge, I-95 and I-295; with great access to entire northeast corridor.
• High quality constructed buildings with space as small as +/– 14,500 sq. ft.
• 24'–31' clear ceiling height
• HI (Heavy Industrial) zoning allows for a wide arrayof uses
• Park tenants include: Iron Mountain, National RollKote, DHL, Carlyle Cocoa, Harbour Textile,Waste Management, SKW Hardcore, Freeze, RecyClean
• +/- 400,000 Sq. Ft. business park in the town of Newport.
• 1/2 mile from I-95/Rt. 141 interchange with immediate access to I-295, I-495 north and south.
• Site offers convenient access to the Delaware Memorial Bridge, Port of Wilmington and the entire northeast corridor.
• Park tenants include: AIG, Sieck Wholesale Florist,First State Paper, Qwest Communications, C-Cert,Apex Piping and Conectiv.
delMARVA
www.marejournal.com Mid AtlanticRealEstateJournal—DelMarVa—May11-24,2012—1�A
RECEN T DE A L S
$13,600,000Fairmount Place II
OFFICE - 123,400 SF | TOWSON, MDLENDER: L IFE COMPANY
$17,600,000Pomona Apartments 424 UNITS | PIKESVILLE, MD
LENDER: L IFE COMPANY
$4,900,000Martin Plaza
4 RETAIL PAD SITES | BALTIMORE, MDLENDER: L IFE COMPANY
northmarq.com
Baltimore Office410.296.6565
JOE BURKE | NANCY FERRELL | BILL LIBERCCI
Capital Markets
33 offices coast-to-coast
Better Solutions
Better Relationshipsdeliver
ETHESDA, MD — First Potomac Realty Trust announced three recent
lease transactions in its Subur-ban Maryland portfolio.
“These lease transactions demonstrate First Potomac’s commitment to increasing our occupancy and growing our NOI,” said Skip Dawson, ex-ecutive VP and COO for First Potomac Realty Trust. “Our well located properties are attractive to a variety of high-quality businesses.” • Allstate renewed its lease at Gateway 270 West in Clarks-burg. The company completed a five-year renewal agreement of their 26,274 s/f of space. • DIRECTV completed a sev-en-year expansion-and-exten-sion agreement at Gateway 270 West. The firm will occupy a total of 42,267 s/f through a 27,430 s/f renewal and a 14,837 s/f expansion. • Data Design Corp. signed a 28,500 s/f lease at Campus at Metro Park North in Rockville for a seven-year term. n
DIRECTVleases42,2��s/f
FirstPotomacRealtyTrustsigns9�,041s/fofleasesinitssuburbanMDportfolioB
COLUMBIA, MD — Sperry Van Ness completed two trans-actions totaling 35,419 s/f led by Scott Sk-ogmo, SIOR of Sperry Van Ness/Skogmo Commercial in Columbia.
Following are details of the transac-tions:
• JACO Environmental leased 25,884 s/f at 9015 Junc-tion Dr. in Annapolis Junction to accommodate an expansion and relocation from Jessup. The space is part of a 125, 000 s/f distribution building lo-cated in the Junction Business Park. Scott Skogmo, SIOR of Sperry Van Ness represented the landlord, Junction Prop-erties, LLC, and David Fritz, SIOR of NAI KLNB repre-sented the tenant.
• Huaxia USA leased 9,535 s/f of distribution space at 10640 Iron Bridge Rd. in Jessup. The space is part of the 85,000 s/f office-warehouse facility in the Corridor North Industrial Park. Skogmo represented the landlord, Junction Properties, LLC, and Tawa Olanrewaju of Multiplex Realty represented the tenant. n
SperryVanNess’Skogmo leads��,419s/ftransactions
Scott Skogmo
Gateway 270 West in Clarksburg Metro Park North in Rockville
EXCLUSIVELY LISTEDEXCLUSIVELY LISTEDMark Taylor Dean Zang Christopher Munley
Derrick Dougherty Peter Snell
www.TaylorZangMunley.com215.531.7000 Philadelphia, PA Ofce202.536.3700Washington, DC Ofce
DE Broker: Donald MacLaren ([email protected] 215-531-7000)NJ Broker: Michael Fasano ([email protected] 201-582-1000)
KS Broker: Adam Christofferson ([email protected] 303-320-1300)MO Broker: Jerome Smart ([email protected] 314-889-2500)OH Broker: Michael Glass ([email protected] 216-264-2000)
ADAM’S FOUR SHOPPING CENTER
85,529 GLAWilmington, DE
$10,250,000
WINSLOWPLAZA
40,695 GLASicklerville, NJ
$7,125,000
PNC CENTER
7,838 GLAMerchantville, NJ
$4,241,890
WAWA PORTFOLIOFour Properties
22,976 GLAGap, PA; Lewes, DE; Cape May, NJ;
Galloway, NJ$31,000,000
WALGREENS PORTFOLIOSix Properties
Kansas, Missouri, Ohio
$30,312,781
$4,732,763 Price6.55% CAP
$5,454,545 Price6.60% CAP
$5,112,782 Price6.65% CAP
$5,326,326 Price6.45% CAP
$4,532,519 Price6.55% CAP
$5,153,846 Price6.50% CAP
E T H E S D A , M D — StonebridgeCar-ras, PN Hoffman and
Northwestern Mutual have completed the land transfer and commenced construction of their public private project with Montgomery County, for the development of a public parking garage that will be under a mixed-use project in the heart of Bethesda’s prime commercial district at the corner of Woodmont and Bethesda Aves.
StonebridgeCarras and PN Hoffman have been working with Montgomery County since 2005 to re-develop the County’s two surface park-ing lots (commonly referred to as Lots 31 and 31A) into a mixed-use project featur-ing 250 residential units and 40,000 s/f of street retail above a public parking garage that will accommodate 950 cars.
The $200 million project will be completed in phases with the first phase of the project to open being the new Montgomery County parking garage in late 2014 and the residential and retail compo-nents opening in the begin-ning in the winter of 2015.
“We are extremely proud
Landtransfer&commenceconstructionofMontgomeryCty.proj.
StonebridgeCarras,PNHoffman,NorthwesternMutualannounce
B
to have been able to get this project underway after the many years of planning – this project coming to fruition is a testament of an excellent vision and the commitment of the partners to the vision,” said Douglas Firstenberg, a principal with Stonebridge-Carras. “We look forward to creating a vibrant mixed-use project that builds on the great success of Bethesda Row.”
Residential components of the development include The Darcy, an 88-unit condomini-um, and The Flats, a 162-unit apartment building.
“Northwestern Mutual is glad to help spearhead rede-velopment of one of the best
sites in the Washington area, joining with the Stonebridge-Carras and PN Hoffman team as well as Montgomery Coun-ty,” said Matthew Ascher, director with Northwestern Mutual Real Estate Invest-ments. “This project reflects the long-term quality devel-opment that is a hallmark of our investment strategy.”
The project has been de-signed by SK&I Architectural Design Group and the Clark Construction Group is the general contractor for the project. Northwestern Mu-tual is a financial partner in the development. Holliday Fenoglio Fowler, L.P. ar-ranged the financing for the development. n
Lot 31 rendering
# of pages: 1To:Sect:Fax:
To: From:
Proof Fine
Make ChangesNJPA Real Estate JournalPhone # 800-584-1062Fax # 781-871-5299
FAX
Mid Atlantic REAL ESTATE JOURNAL’SANNUAL SPOTLIGHT
Industrial & Distributions Centers
APPEARING MAY 25 - DEADLINE MAY 18, 2012
DON’T MISS IT!Call 800-584-1062/781-871-5298 for more information
If you do not have a business card readily available, our art department will design one for you at no extra charge!
Make your business card work as hard as you do
PR / MARKETING
for more info
Call Linda Christman
800-584-1062
781-871-5298
Mid Atlantic Real Estate Journal
18A—May11-24,2012—DelMarVa—Mid AtlanticRealEstateJournal www.marejournal.com
delMARVA
delMARVA
www.marejournal.com Mid AtlanticRealEstateJournal—DelMarVa—May11-24,2012—19A
ncluded in that seemingly endless list of responsi-bilities incumbent upon the
construction manager is an item that, more than any other, eventu-ates in post-construction p r o b l e m s and even liti-gat ion . We speak of one of the fundamental requirements of “shelter,” that being protection from the ele-ments or more specifically, pro-tection from moisture. Moisture problems can occur anywhere on a new or renovated building. From roof to foundation, each component of the building en-velope must provide a barrier to moisture that is both economi-cally efficient and amenable to long term maintenance.
Provisions for this essential element of shelter begin in the design stage. More often than not, design is a function of packaged information provided by the various manufacturers of moisture protection/veneer systems. Producers of single-ply roofing, for example, provide product information, stan-dardized details for flashing and even proprietary broad and narrow scope specification sections in CSI format. These are offered in professionally printed brochures that, by all appearances, are exhaustive and complete. The resulting construction documents, as con-struction managers know, vary dramatically in quality.
As representatives of the Owner, construction managers have an opportunity, if not a responsibility, to examine these documents with an eye for de-ficiencies that will ultimately result in problems. Subcontrac-tors, like the traditional general contractor, contract to provide the design as shown in the con-struction documents. Although they are expected to exercise good judgement based upon superior knowledge of their trade, they are not obligated to redesign every project. This is particularly true in instance where competitive bidding is the norm. Later, it often hap-pens that a contractor will compound a design problem by providing only a semblance of the original intent. A classic example of this is a defective waterproofing membrane cov-ered by a sand-cement setting bed and pavers, that only makes
itself known after the three to five years it takes for the assem-bly to become saturated.
Time and budgetary con-straints in preconstruction and construction too often do not allow for proper review of the design or supervision of each trade when the actual work begins. The end results of inadequate design, deficient construction and an inability to oversee every facet of the veneer installation, are seri-ous moistureproofing problems that have literally been built in. A common example of this is the failure to properly install through-wall flashing in brick
masonry veneer walls. Archi-tectural drawings, at best, show typical sections of veneer at floor slabs, window heads, brick shelves, etc. In fact, what one finds after construction is flash-ing with missing or inadequate weepholes, plugged weepholes, punctured membrane flashing, interrupted flashing, flashing that droops down into the wall cavity and serves as a reservoir for moisture; the list goes on and on. Conversely, in all fair-ness to contractors, one often finds through-wall flashing designs that do not address corners in the veneer, structural barriers to continuous flashing
or two component flashing sys-tems using metal and flexible membrane, around which water can flow as if neither exists.
Flashing metal or membrane cost very little to fabricate and install. Demolition, repair and reconstruction of a completed brick veneer is another story. The burden then falls upon re-sponsible parties in the design, bidding and preconstruction phases to seek out and address these and similar issues so as to avoid very costly mistakes.
Construction managers are encouraged to develop a work-ing knowledge of moisture pro-tection or be willing to advise
their clients to obtain the ser-vices of a qualified consultant specializing in this field. As post construction problems and litigation involving moisture protection system failures has increased, so too have Archi-tects and Owners shown a will-ingness to retain the services of a specialist to assist in design and construction. Considering the cost of remedial solutions, to say nothing of the negotiations, attorney’s fees and the possible loss of client good will, it could be money well spent.
ClayC.Ewellispresidentof Construction SystemsGroup,Inc.n
ByClayC.Ewell,ConstructionSystemsGroup
ConstructionTechnologyMoistureprotection:Avoidingcostlymistakes
I
Clay C. Ewell
Committed to the Preservation and Restoration
of Building Structures
CSG is a professional engineering firm dedicated to providing Building Owners, Property Managers and Homeowner Associations high quality and economical construction solutions. We are considered “experts” in moisture protection providing advice on a range of projects from new build construction to the renovation of buildings related to: · Moisture Protection
· Restoration and Preservation
· Building Condition Surveys
· Construction Management
· Construction Litigation
Clay Ewell, PresidentThomas Curley, Sr. Vice President
CONSTRUCTION SYSTEMS GROUP, INC.1451 Dolley Madison Boulevard
Suite 300, McLean, Virginia 22101703-917-0055
www.csgengineer.com
Governor Markell spoke of his focus on growing the economy, creating jobs, strengthening schools and
protecting taxpayers. When he took office in 2009, he inherited a record budget shortfall, rapidly rising
unemployment, and a stagnant economy. Since then, he has worked to open shuttered manufacturing
facilities, won President Obama’s “Race to the Top” competition for progress in public school reform, and
signed new laws to drive improvements in the economy, environment, and education.
20A—May11-24,2012—DelMarVa—Mid AtlanticRealEstateJournal www.marejournal.com
www.circdelaware.org
Commercial-IndustrialRealtyCouncil
GovernorJackMarkellspeaksatCIRC’sAnnualMeetingandelectionoftheBoardofDirectors
OFFICERS
President&LegislativeAffairsChair
J.GregoryEllisPatterson-Woods
CommercialProperties
VicePresident&ProgramCommitteeChairJohnBirmingham
Cushman&WakefieldofDelaware,Inc.
Treasurer
KatherineL.Silicato,CPAGunnip&Company,LLP
Secretary
BayardJ.Snyder,Esq.Bayard&Associates
DIRECTORS
JeremyAbelsonWSFSBank
AmeliaJulian
EasternStatesGroup
EducationCommitteeChair
DanLesherPattersonWoods&Assoc.
MembershipCommittee
ChairJamesManna
BrightFields,Inc.
JimO’HaraJimO’HaraRealtyAssoc.
DonaldRobitzer
TheCommonwealthGroup
BertRoot,VNewmarkKnightFrank
SmithMack
MarvinSachsBellevueRealtyCo.
EX-OFFICIO
(NON-VOTINGMEMBERS)
BusinessManagerJanetSharplessPippert
CIRCLandmarkJCM
LegislativeLobbyist
C.ScottKidnerC.S.Kidner&Associates
NewCastleCounty
EconomicDevelopmentLiaison
KarlKalbacher,P.GNewCastleCounty
DirectorofRedevelopment
BobChadwick,DirectorNewCastleCounty
EconomicDevelopmentCouncil
StateofDelaware
EconomicDevelopmentLiaison
JeffStoneStateofDelaware,DEDO
CityofWilmington
EconomicDevelopmentLiaison
JeffFlynnCityofWilmington,OfficeofEconomicDevelopment
SAVETHEDATECIRCAnnualGolfOuting–Monday,June11,2012
DUPONTCOUNTRYCLUB–Main18-HoleCourse
“For a great day of golfing fun and business networking beyond compare!”
RegisterNowforSponsorshipsandtoGolf–www.circdelaware.org
Governor Jack Markell
Registration for all Events: www.circdelaware.org
ScenesfromApril11thNetworkingEvent
Delaware Department of Transportation Secretary Shailen Bhatt was a big hit at the CIRC Monthly Membership Luncheon in April, where 92 attendees came out to hear him speak at the Clarion Belle Hotel in New Castle. They enjoyed some great networking and a delicious buffet. Secretary Bhatt, whose mother was visiting from India and attended the luncheon, humorously quipped that it was “Take Your Child to Work Day” ... and his mother did just that... brought him with her to our meeting.
GOLF TITLE SPONSORS:BrandywineRealtyTrust
AdvancedOfficeEnvironmentsanAuthorizedKimballOfficeandDIRTTdistributor
CIRC ANNUAL GOLF OUTING – JUNE 11, 2012 – DuPONT COUNTRY CLUBPARTNERING SPONSORS:
M&TBankEnvironmentalAlliance
PREMIUM SPONSORS:Lunch Sponsor:
DiamondStateManagementDinner Sponsor: WSFSBankOn-Course Beverage Sponsors:HarveyHanna&Associates
PremierWine&SpiritsSnack Sponsors:
PettinaroRelocation&10�1CorpHappy Hour Sponsor:Insurance&FinancialServices(IFS)
CHALLENGES and SPECIALITY SPONSORS:Longest Drive: Mens & Womens: Atapco / Christiana
Closest to the Pin #1: RegusPutting Challenge: Ten Bears Environmental
Cart Sponsor: Applied BankPhotography Sponsor: STAT Office Solutions
Poster Sponsor: LandmarkJCMGolf Sign Sponsor: Insta Sign Plus
CORPORATE SPONSORS:Young Conaway Stargatt & Taylor
Mitchell AssociatesColonial Parking
TEE SPONSORS:Smith Realty Co.
CADapult FMGreenhill Car Wash
Jackson Cross PartnersLogan & Associates
Asset Protection - Real Estate - Mortgage Workouts General Business - Commercial Transactions Business Formation - Contract Negotiations
Risk Management - Estate Planning Construction Issues - Labor and Employment
Premise Liability - Professional Liability Defense
Free Consultations(302) 658-6400
Dominic J. Balascio, Esq
704 King Street, Suite 500, Wilmington, DE 19801302.658.6400 - [email protected]
www.marejournal.com Mid AtlanticRealEstateJournal—DelMarVa—May11-24,2012—21A
www.circdelaware.org
Commercial-IndustrialRealtyCouncil
One Avenue of the ArtsWilmington, DE 19801302 594 9500www.mitchellai.com
DESIGNINGWITH
VISIONArchitecture
Planning
Interior Design
Environmental Graphics
Recognition Design
Serving clients in
Headquarters Phone
integrated
&services
BOG TURTLE TIME
Call Amy Nazdrowicz302.323.9377
www.LandmarkJCM.com
LEASE:OFFICE BUILDING1314 N King St., Wilmington, DE 19801
Presented by Patterson-Woods & Associates, LLC“The Area’s Leading Commercial Broker”
3801 Kennett Pike D-100 Greenville Center,Wilmington, Delaware 19807
302-622-3500 800-220-2738
Web Site: www.pattersonwoods.com
Please contact:
• High-end finishes with furniture included
• Onsite lot or garage across the street
• Elevator served • 5,776+/- SF
• RENT: $16.50/SF plus utilities, janitorial
Greg Ellis, CCIM302-622-3534
Available
Now
delMARVA
22A—May11-May24,2012—DelMarVa—Mid AtlanticRealEstateJournal www.marejournal.com
23A — May 11 - 24, 2012 — New Jersey — Mid Atlantic Real Estate Journal www.marejournal.com
IVINGSTON, NJ — Boosted by an excellent transportation network
and easy proximity to New York City, Essex County re-corded a wave of multi-family sales within a recent three-week timeframe, according to Gebroe-Hammer Associates. The real estate investment brokerage firm arranged four transactions, involving a total of 533 units sold for a com-bined $26.22 million, in 21 days.
“Thanks to Essex County’s unique positioning in the New York-metro commuter corri-dor, this Northern New Jersey market consistently demon-strates strong multi-family performance at competitive trading prices, making it ex-tremely appealing to portfolio and single-property investors alike,” said Ken Uranowitz, managing director.
The largest transaction,
Trades demonstrate consistently strong demand for existing product
Gebroe-Hammer completes four Essex County multi-family transactions totaling $26.22 millionL $9.5 million. The 29, 33 and
56 South Munn Ave. and 7 Chestnut St. buildings are comprised of a total of 199 apartments. Featuring bal-conies and a mix of outdoor and garage parking, 56 South Munn Ave. is an eight-story building with two elevators. The remaining properties are four-story, single-elevator buildings, with the Chestnut Street property also offering garage spaces.
“East Orange lies at the crossroads of major transpor-tation arteries, including the Garden State Parkway and Route 280,” noted Oropeza. “The city is less than eight miles from Newark Liberty International Airport and of-fers direct rail and bus links to Manhattan. It’s a true live/work hub, which reinforces on-going market demand for multi-family properties in all class categories, particularly
existing class-B and class-C product.”
The team of Oropeza and Uranowitz also completed a $1.9 million note sale for two buildings on Chancellor Ave. in Newark. The five-story ele-vator buildings contain 36 and 37 apartments, respectively. Located near a city park, retail and public transportation are within walking distance.
“The rise of the ‘renter na-tion’ phenomenon, whereby consumers continue to favor renting instead of homeown-ership, is reinforcing solid occupancy rates in the high 90th percentile range,” said Brecher.
Rounding out Gebroe-Ham-mer’s Essex County transac-tions is the $620,000 sale of 25 units at 293-299 Schley St. in Newark orchestrated by David Jarvis, executive vice presi-dent and the firm’s inner-city market specialist. n
Heller Urban Renewal begins wrecking ball process forHarrison Station: Mixed-use transit-oriented redevelopment
133 Cleveland St.
HARRISON, NJ — Heller Urban Renewal, the redevel-opment arm of Heller Indus-trial Parks has begun the wreck-ing ball pro-cess for the development of Harrison Station, a mixed-use, transit-ori-ented redevelopment project. In December, Heller received unanimous approval from the Harrison Redevelopment Agency to move forward with the total of 747 luxury rental units for the project.
“Things are moving along right according to plan and we are so excited to be mak-ing progress on this vital project for Harrison,” said Jeffrey Milanaik, president, Heller Industrial Parks, Inc. “Over the next year, the Heller team will work dili-gently to properly demolish the 750,000 s/f of blighted
New Jersey
arranged by executive vice presidents Joseph Brecher and David Oropeza, involved the $14.2 million sale of five multi-family buildings in Or-ange. Located at 133 and 147 Cleveland St. and 385, 394 and 431 Park Ave., the three-story elevator buildings contain a total of 236 apart-ments offering a mix of studio,
one- , two- and three-bedroom layouts. According to Gebroe-Hammer, average rents for the area range from approximately $650 for a studio to $1,500 for three-bedrooms.
Representing a private glob-al investment fund, Oropeza and Brecher also transacted the sale of a portfolio of four East Orange buildings for
Demolition of former Hartz Mountain industrial site
industrial building at the site to make sure we set the proper foundation for Har-rison Station.”
The 10.5-acre site is di-rectly adjacent to the PATH station at 700 Frank E. Rodg-ers Boulevard. Heller expects to complete initial engineer-ing work and file for formal site plan approval with the
township planning board in the spring. The first phase of vertical construction is expected to begin in 2013.
Designed by NK Architects in collaboration with Heller, Harrison Station will be comprised of six residential mid-rise towers that will ad-here to the tenets of sustain-able design, offering a mix of
one- and two-bedroom luxury residences and approximate-ly 30,000 s/f of ground-floor retail. Future residents will have access to numerous life-style-enhancing amenities, including a glass-enclosed gym and meeting/conference rooms.
Harrison Station will also provide direct sheltered ac-
cess to the adjacent PATH station. The Port Authority recently announced that the station will soon undergo a $275 million renovation to improve service and upgrade its facilities. The site is also close to major roadways in-cluding Rte. 280 and is in walking distance to the Red Bull Arena soccer stadium. n
Harrison Station
Jeffrey Milanaik
24A — May 11 - 24, 2012 — New Jersey — Mid Atlantic Real Estate Journal www.marejournal.com
New Jersey
The main advantage to
our New Jersey real estate
law practice? New Jersey.
Our comprehensive understanding of commercial
real estate law and the governmental landscape in
New Jersey comes from practicing in New Jersey
for over 125 years. Our real estate attorneys work
together with our corporate, environmental,
lending and litigation practice groups to provide
for all of our clients’ needs.
To find out how we can help your business in
New Jersey’s complicated real estate environment,
contact Nick Racioppi at 973.451.8492 or
n Negotiating contracts of sale and options
on behalf of sellers and purchasers of
improved and unimproved real property
n Representing retail, commercial and indus-
trial developers, landlords and tenants
n All aspects of major redevelopment
projects
n Sale-leaseback transactions
n Obtaining zoning, planning and other
developmental approvals and permits
n 1031 tax-free exchanges
n Representing borrowers and lenders with
loans secured by real property
n Brownfields
n Real estate litigation and arbitration
matters
n Condemnation proceedings
MORRISTOWN, NJ
973.538.0800
TRENTON, NJ
609.396.2121
NEW YORK
212.302.6574
LONDON AFFILIATE
+44 (0) 20 7877 3270WWW.RIKER.COM
A T T O R N E Y S A T L A W
ACKENSACK, NJ — AvalonBay Com-munities hosted a
ground breaking ceremony at Avalon Hackensack. The com-munity will be AvalonBay’s sixteenth luxury apartment development in New Jersey.
A crowd of over 100 attended the ceremony, which was held at Maggiano’s Little Italy res-taurant on Hackensack Ave., located next to the construction site. Both Hackensack officials, including Mayor Jorge Mene-ses, and AvalonBay executives, led by Ron Ladell, senior vice president for Development, addressed the gathering, high-lighting the new community’s proximity to mass transit hubs, convenient shopping districts, and New York City.
Ron Ladell said, “With the ground breaking of Avalon Hackensack, we are proud to further expand our presence in New Jersey. This will be a beautiful development that both Hackensack and Ava-lonBay will be very proud of when it’s completed. We look forward to offering residents all the benefits of luxury apart-ment living, combined with first-class local shopping and wonderful restaurants. And all
H
Fairfield Corporate Park, Fairfield, New Jersey
FOR LEASE 32,000 Square Foot Industrial Building
* Warehouse/Manufacturing * 6,000 Square Feet Office – Can be reduced * 20 Ft Ceiling Height / 4 Tailgate Doors / 60+ Car Parking * Attractive rental rates and terms available.
SHELDON GROSS REALTY, INC.REALTORS Corporate Real Estate Services 80 Main Street, West Orange, NJ 07052 Tel.#973-325-6200 - Fax.#973-325-9090 E-mail: [email protected]
16th luxury development in New Jersey
Avalonbay breaks ground inHackensack on multifamily
# of pages:
To:
Sect:
Fax:
To: � From:
� Proof Fine
� Make ChangesNJPA Real Estate Journal
Phone # 800-584-1062Fax # 781-871-5299
FAX
SEBCOThe Finest In Metered Laundries
1-800-SEBCO-88(1-800-732-2688)
http: www.SEBCOLaundry.come-mail [email protected]
LaundrySystems“
Next publication date: February 24th
GET YOUR NAME IN THE PAPER!!!NEWS RELEASES & PHOTOS WANTED
E-Mail: [email protected]
Toll-Free: 1-800-584-1062
The Mid Atlantic Real Estate Journal welcomes all editorial dealing with the
commercial/industrial real estate industry
• Brokered transactions • New services or products • Projects completed or underway • Expert articles
this is just within a short dis-tance from New York City and all that the Big Apple has to offer.”
Avalon Hackensack will con-sist of 226 studio, one, two and three bedroom apartment homes, divided into two four-story buildings. Units are spacious, include a washer and dryer, and several have balconies or bay windows. Ad-ditionally, the community will boast an array of outstanding amenities, including a state-of-the-art fitness center, a resident lounge, game room, outdoor pool and pool deck, as well as barbeque and picnic areas.
Residents will be within
walking distance to Hacken-sack River County Park, the town’s local restaurants, as well as retail outlets, such as The Shops at Riverside. Addi-tionally, there will be direct and easy access to Manhattan via Route 4 and Route 95. Com-muters can also access the NJ Transit River Edge train sta-tion, which is less than a half-mile from the community, and a short ride from Manhattan’s Penn Station.
Mayor Jorge Meneses, who was in attendance at the ground breaking ceremony, said “AvalonBay has a well-deserved reputation around the State for building high quality multi-family housing. n
Avalon Hackensack
www.marejournal.com Mid Atlantic Real Estate Journal — New Jersey — May 11 - 24, 2012 — 25A
New Jersey
5,000 – 15,000 SF - SOMERSETOfc to Suit, 18’ Clgs, TB, DI AVAILABLE IMMEDIATELY
GARWOOD – Available Imm 5,063 SF – 500 SF Ofc, 15’ Clgs, TB, DI 7,611 SF – 1,200 SF Ofc, 16’ Clgs 1 TB
“WE’VE GOT NEW JERSEY COVERED” WAY BELOW MARKET PRICES – For SALE or LEASE
1,920 SF – PISCATAWAY300 SF Ofc, 20’ Clgs, 1 DI
AVAILABLE IMMEDIATELY
Bussel Realty Corp. 2 Ethel Road, Suite 202 A, Edison, NJ 08817
(732) 287-3777 / Fax (732) 287-1090 / [email protected] / www.bussel.comThe information herein has been obtained from sources deemed to be reliable, but no guarantee of its accuracy is made by the Company. In addition, no representation is made respecting measurements,
dimensions, zoning, condition of title or any matters of a legal or environmental nature. Such matters should be referred to legal counsel for determination. Subject to errors, omissions or withdrawal without notice.
53,500 SF - MILLBURN4,000 SF Ofc, 16’ Clgs, 10 TB AVAILABLE IMMEDIATELY
1,500 - 3,000 SF - EDISONUp to 14,000 SF Ofc, 18’ Clgs, TB, DI
AVAILABLE IMMEDIATELY
15,380 – 24,000 SF - CARTERET @ Exit 12, NJTpke
1,000 SF Ofc, 18’ Clgs, 2-4 TB AVAILABLE 60 DAYS
For Additional Listings or Informa www.bussel.comtion Check Us Out On The Web:
80,000 SF – Raritan Center, EDISON
8,000 SF Ofc, 28’ – 34’ Clgs, 10 TB, Rail, Food Grade Bldg w/Freezer &
Cooler Space
35,224 SF – AVENELUp to 14,000 SF Ofc, 21’ Clgs, 4 TB, DI
DIVISIBLE – Near Exit 12 AVAILABLE IMMEDIATELY
66,000 SF - MAPLEWOOD12,000 SF Ofc, 22’ Clgs, 6 TB, DI
Trailer Pkg, Heavy Power
18,750NEW BRUNSWICK
1,000 SF Ofc, 14’-25’ Clgs, 2 TB AVAILABLE 60 DAYS
33,000 SF - PISCATAWAY3,000 SF Ofc, 20’ Clgs, 4 TB, DI
AVAILABLE IMMEDIATELY
55,555 SF – SOUTH PLAINFIELD6,000 SF Ofc, 20’ Clgs, 6 TB, DI
AVAILABLE IMMEDIATELY
NJ Real Estate Journal, March 2012
26A — May 11 - 24, 2012 — New Jersey — Mid Atlantic Real Estate Journal www.marejournal.com
New Jersey
A S B R O U C K HEIGHTS, NJ — — DMR Architects
completed a Rehabilitation Plan for the City of Hack-ensack. The City Council unanimously approved that the plan be sent to the Hack-ensack Planning Board.
The Rehabilitation Plan encompasses 163 acres and includes strategies to revital-ize the downtown. Such strat-egies include improvements to infrastructure, residential, retail and entertainment op-tions, and parks and open space.
For the past year, DMR
asectionofthe
Mid AtlanticRealEstateJournal
P.O.Box26,Accord,MA02018781-871-5298•800-584-1062
fax781-871-5299MAREjournal.com
PublisherMichael Campisi
SectionEditorKaren Vachon
NewJerseyRealEstateJournal
City Council unanimously approves and sends to Planning Board
DMR Architects developsrehabilitation plan for Hackensack
H
CELEBRATING OUR 106TH YEAR
www.kislakrealty.com732 750 3000The Kislak Company, Inc.
Investment Real Estate Brokerage.
multifamily. retail. office.
32 Residential UnitsLong Branch, New JerseyDaniel Lanni ext 248
24 Residential UnitsBelleville, New JerseyJulie Gralla ext 2240
28 Residential UnitsHackensack, New JerseyAndrew Scheinerman ext 247
44 Residential UnitsKeansburg, New JerseyBarry Waisbrod ext 272
28 Residential UnitsPaterson, New JerseyRobert Squires ext 287
52 Residential UnitsOrange, New JerseyJoni Sweetwood ext 273
Architects, led by Francis Reiner, PP, LLA, worked with the City of Hackensack, which included members of the Upper Main Street Busi-ness Alliance, to develop the plan.
“DMR is proud of our re-lationship with the City of Hackensack and excited to continue with efforts to re-develop the City. The Reha-bilitation Plan will promote the creation of a livable and real downtown district that will recreate the City of Hackensack into the social, cultural and economic cen-
ter,” Francis Reiner, DMR Architects, said.
The Hackensack Planning Board will have two meeting on the document. The intent is that City Council will vote on final approval in June. n
MAHWAH, NJ — The Hamp-shire Companies announced the disposition of a 120,000 s/f industrial /flex building located at 1595 MacArthur Blvd. The sale was made to Dimensional Communications.
“The property offered many of the manufacturing capabili-ties that the buyer required,” said Michael Harrington, an investment manager for The Hampshire Cos.
Thomas Monahan and Jim Tulley of CB Richard Ellis rep-resented Hampshire while Hal Lichtenstein of Cassidy Turley represented the buyer in the transaction.
In Mount Laurel The Hamp-shire Cos. announced the ac-quisition of Town Square Shop-ping Center, a 91,758 s/f retail center located at 872 Union Mill Rd. from Town Square, LLC.
Brad Nathanson of Marcus & Millichap represented both Hampshire and the seller in the transaction. n
The Hampshire Cos. sells 120,000 s/f ind./flex building in Mahwah
Rehabilitation Plan for the City of Hackensack rendering
www.marejournal.com Mid Atlantic Real Estate Journal — New Jersey — May 11 - 24, 2012 — 27A
New Jersey
EWARK, NJ — Sev-eral early 2012 lease transactions have re-
tained long-term tenants and filled the last remain-i n g o f f i c e accommoda-tions at The Berger Or-ganization’s Military Park Building, leaving only a street-level restaurant space available at the 250,000 s/f landmark tower. The milestone marks more than 70,000 s/f of leasing success since Berger acquired the property, located at 60 Park Place, in 2008.
The most recent transactions, all of which were negotiated by Brendan Berger, vice president
Brendan Berger negotiates 6,230 s/f long-term lease renewal by Education Law Center
Berger Organization leases last officeaccommodations at 60 Park in Newark
N of leasing, include: • A 6,230 s/f, long-term lease
renewal by Education Law Center, which serves as an advocate of education reform in New Jersey.
• A 4,315 s/f, long-term lease renewal by the New Jersey In-stitute for Social Justice.
• A 1,200 s/f expansion by Somerset Christian College, which now occupies more than 15,000 s/f at the Military Park Building.
• A 900 s/f lease for on-line commercial radio station WNJR-Newark.com.
The 85-year-old Military
Park Building is located in the city’s central business district, a location with unparalleled desirability that justified sig-nificant capital improvements and marketing investment, according to Berger. “We set out to establish the Military Park Building as a destination of choice in Newark’s most desir-able corporate neighborhood,” he noted. “In four years, we have brought the property from 75 to 99 percent occupancy, a milestone confirming that we have achieved this goal.”
Berger added that his com-pany is eager to find the “right”
operator for the building’s 6,000 s/f restaurant. “We are working tirelessly to find the best fit for our beautifully de-signed dining space,” he said. “Our target includes current restaurant operators who are interested in being part of this thriving neighborhood. In ad-dition to serving the daytime population at 60 Park Place, our building sits next door to both PSEG’s and Prudential’s headquarters. After hours, it is ideally located to draw patrons of the New Jersey Performing Arts Center, Prudential Center and other local venues.” n60 Park Place
Brendan Berger
NORTH HALEDON, NJ — NAI James E. Hanson represented both the seller and buyer in the sale of a first mortgage position in a 20-acre parcel of vacant land at 920 Belmont Ave. The sale of this first mortgage was sig-nificantly below face value; the property is currently zoned for affordable senior housing.
NAI Hanson associate vice president Darren Lizzack co-ordinated the transaction for the seller of note, William Dworetzky and Katherine Dworetzky, and the purchaser, 920 Belmont Associates.
Lizzack explained that the listed seller was owned by the previous property owner and the mortgagor has been in default for the past few years. The buyer will have to foreclose on the developer in order to obtain title to the property and then obtain ap-provals for future development of the site.
In Union, NAI Hanson com-pleted a 9,600 s/f industrial lease transaction at 697 Rah-way Ave.
NAI Hanson senior vice president Thomas Ryan and sales associate Russell Ver-ducci represented the land-lord, Rummel Fibre Co., Inc. Weichert Commercial Broker-age vice president David Wil-liams represented the tenant, Canary Custom Closets, which is relocating from 1474 Ridge-way St., also in Union. n
NAI James E. Hansonannounces land sale in North Haledon
“Building Successful Relationships” is our Mission.
WOLF COMMERCIAL REAL ESTATE (WCRE) is a full-service commercial real estate advisory firm specializing in office, retail, investment and industrial properties.
We value relationships more than any other aspect of our business. We’re connectors with the people, resources, properties, and partners that your company needs to achieve its goals.
HOW WE CAN HELP YOU SUCCEED?
Appraisal/Advisory Evaluation
Construction Services
Corporate Real Estate Portfolio Mgmt.
Owner/Landlord Representation
Real Estate Investments
Research/Information
Tenant Representation
Full Service Real Estate and Advisory Firm
Follow us on:
Wolf Commercial Real Estate, LLCLaurel Oak Corporate Center I 1010 Haddon eld-Berlin Road I Suite 404 I Voorhees, NJ 08043
P 856 857-6300 I F 856 283-3050 I www.wolfcre.com
28A — May 11 - 24, 2012 — New Jersey — Mid Atlantic Real Estate Journal www.marejournal.com
New Jersey
ARAMUS, NJ — Cresa NJ – North/Central, part of Cresa LLC bro-
kered 4,000 s/f lease for For-man Holt Eliades Ravin & Youngman LLC at 80 Route 4 East. The law firm, which previously leased 12,000 s/f at the building, was able to expand its offices to more than 16,000 s/f to accommodate its growing staff.
James Scancarella, princi-pal of Cresa NJ – North/Cen-tral, along with Judy Sotardi and Charles Forman of For-man Holt Eliades Ravin &
Also A-V Services renews lease in Fairfield
Cresa NJ – North/Central helps Forman Holt Eliades Ravin & Youngman expand in Paramus
P Youngman LLC, represented the law firm in the transaction. The landlord, Hanjin Shipping Co. Ltd., was represented by Kenneth Porreca of Newmark Knight Frank.
“Forman Holt Eliades Ravin & Youngman, the building’s largest tenant, was looking to expand into a contiguous office space without disrupting its day-to-day operations,” said Scancarella. “To accommodate the expansion, the landlord relocated two neighboring tenants to alternative spaces within the building.”
In Fairfield, Cresa NJ – North/Central brokered a re-newal of office and hi-tech pro-duction space at 99 Fairfield Rd. for A-V Services, Inc.
Scancarella and Edward English, vice president of Cresa NJ, represented A-V Services in the transaction. The landlord, Commercecen-ter Realty, was represented by Howard Weinberg and Matt Turse of Cassidy Turley.
“A-V Services had been a tenant at 99 Fairfield Road since 1987, and the company wanted to investigate alter-natives in the market to see if another property could suit its changing space needs,” said Scancarella. “After our mar-ket analysis we determined that the company’s existing building was the optimal facil-ity and location. We worked quickly with the landlord, who cooperated in discussing creative solutions that would accommodate A-V Services’ needs, leading to the success-ful completion of lease renewal within 90 days.” n
WOODBRIDGE, NJ — The program title for NAIOP New Jersey’s chapter meet-ing asked the very topical question, “Office, Industrial, Mixed-use: Where is the Smart Money Going?” To answer that question, Mark Goldstein of Liberty Property Trust introduced a panel he termed, “true leaders who have given their time and significant financial resourc-es to New Jersey’s economic benefit.”
“The recovery is underway, and transactions are occur-ring – people are buying and selling commercial real estate assets. What are you buying and selling, or not?” moderator Alex Klatskin of Forsgate Industrial Partners asked panelists. For Bill Hankowsky, the answer was “industrial. We bought 4.2 million s/f, mostly industrial, in the past year.
“We continue to try to buy value-add situations,” Han-kowsky said. “Most of the institutions are looking for stabilized real estate. We’re targeting value-add.” n
NAIOP NJ panel: OpportunisticS i t u a t i o n s A r e Driving The “Smart Money”
80 Route 4 East
157-B Bridgeton Pike- Suite 196Mullica Hill, NJ 08062
Call Toll Free: 1-877-FIX-ASPHALT (1-877-349-2774)Fax Toll Free: 1-888-812-4058
Serving NJ, PA, DE, MD
www.marejournal.com Mid AtlAntic ReAl Estate Journal — New Jersey — May 11 - 24, 2012 — 29A
shoppiNg CeNtersNew Jersey spotlightCeNtral
EW BRUNSWICK, NJ — Sperry Van Ness | Richter Grusd
announced the closing of two industrial transactions total-ing 245,000 s/f. The New Jer-sey industrial properties are located at 122 Quentin Avenue in New Brunswick and 601 Prospect Street in Lakewood.
122 Quentin Avenue is a 172,000 s/f industrial building that was sold for $3.268 mil-lion. The sellers, 122 Quentin LLC, are New York-based real estate investors and were rep-resented by Doug Richter and Ian Grusd, managing directors of Sperry Van Ness | Richter Grusd. The buyer, Healthy Food Brands, was represented by Ed Horne and Marty Krei-
Also complete 73,000 s/f lease at 601 Prospect Street in Lakewood
Richter | Grusd of Sperry Van Ness close $3.268mind. building located in New Brunswick & LakewoodN
man of HK Commercial Realty Advisors.
“Healthy Food Brands is an international marketer of ‘better for you’ confections and chocolate including candies that are manufactured under the Angry Birds and Sunkist brands,” says Richter. “They are moving from Commack, New York and plan to create more than 250 new jobs in
New Jersey.”At 601 Prospect Street in
Lakewood, CrystalWare LLC, one of the largest manufactur-
ers and importers of dispos-able and janitorial products, signed a long term lease for 73,000 s/f. The tenant will be consolidating their warehouse operations from Brooklyn, New York and Edison, New Jersey into this property. No other brokers were involved in the transaction.
Managing Directors Doug Richter and Ian Grusd were both named Top 20 Advisors in the US by Sperry Van Ness International (SVNI) out more than 800 advisors nationwide. Additionally, a recent survey from The Lipsey Company reports that Sperry Van Ness was named as the 10th most recognized brand in commer-cial real estate nationwide. n
Doug Richter and Ian Grusd
MONROE TOWNSHIP, NJ — Matrix Development Group announced that W.W. Grainger has signed a 101,944 s/f expan-sion agreement at 16 Apple-gate Dr. within the Northeast Business Park. The industrial supply company now occupies a total of 187,185 s/f at the building, which is located just one mile from the Exit 7A interchange of the New Jer-sey Turnpike. Approximately 295,000 s/f of space is cur-rently available for lease at the building.
Vice president James Mur-ray served as in-house rep-resentative for Matrix in the transaction, while CBRE Vice President Stephen Salomon represented W.W. Grainger, North America’s leading broad-line supplier of main-tenance, repair and operating products.
“Matrix and W.W. Grainger have a long-established busi-ness relationship that start-ed when Matrix constructed a building for the company at Exit 8A,” stated Murray. “When W.W. Grainger outgrew that building, they turned to Matrix to build a larger facility at Exit 7A and Matrix subse-
CBRE vice president Stephen Salomon represented lessee
Murray of Matrix Development Group signs W.W.Grainger to 101,944 s/f expansion at 16 Applegate Drive
122 Quentin Avenue, New Brunswick
quently purchased the Exit 8A building. With this latest transaction, we are continuing our track record of helping to support the company’s growing operations.”
With a prime location within a Foreign Trade Zone, 16 Apple-gate Drive is a state-of-the-art
facility situated off the New Jersey Turnpike and less than one-quarter mile from Exit 7 of Interstate 195, the primary east-west artery within this region. The site offers tre-mendous visibility and access to the major freight-moving roadways in the Northeast,
with direct routes to New York City, Port Elizabeth and New-ark Airport; the Philadelphia docks and airport.
The building has a 36-foot clear height, plentiful door positions, trailer parking, and an Early Suppression Fast Response (ESFR) fire suppres-
sion system. Other companies on the tenant roster include Lifetime Brands, Inc., Sleepy’s and several other regional operators. The Northeast Business Park is contiguous to Matrix Business Park at 7A, Matrix’s premier 480-acre industrial park. n
16 Applegate Dr.
30A — May 11 - 24, 2012 — New Jersey — Mid Atlantic Real Estate Journal www.marejournal.com
CeNtral New Jersey
RANBURY, NJ — A lease expansion for one tenant at 324 Half
Acre Rd. in C r a n b u r y and a reduc-tion/exten-s i on f o r a second has secured the b u i l d i n g ’ s c o n t i n u e d full occupan-cy, announced commercial real estate services firm Cushman & Wakefield, Inc. US Industrial REIT II owns the 680,000 s/f, class A distribution facility.
Teams from CBRE represented the two tenants in the recent transactions
Danzig & Nissim of Cushman & Wakefield broker leases totaling 60,000 s/f at Cranbury propertyC Hardware and housewares
manufacturer Howard Berger Company added 60,000 s/f to
its long-term commitment, bringing its h e a d q u a r -ters opera-tion at 324 Half Acre Rd. to 297,000 s/ f . At the same time, logistics gi-
ant Kuehne & Nagel, Inc. de-creased its space at the build-ing by that same amount and extended its multi-year lease, which now totals 383,000 s/f.
Cushman & Wakefield’s Stan Danzig and Jules Nissim, based at the firm’s East Rutherford of-fice, represented US Industrial REIT II in both transactions. As marketing agents for the property, they also brokered Howard Berger Company’s and Kuehne & Nagel’s original leas-es at the property in 2008 and 2007, respectively. Teams from CBRE represented the two ten-ants in the recent expansion and reduction/extension.
“Kuehne & Nagel’s lease was coming up for renewal, and they had some surplus ac-commodations,” Nissim said. “At the same time, Howard Berger Company required ad-ditional space. The timing and the square footage worked out perfectly. Some compromise and a lot of flexibility from both tenants, and creativity on the part of USAA Real Estate Company came together to implement what really is an ideal solution.”
Danzig and Nissim’s involve-ment with 324 Half Acre Road dates back more than a decade. The 55-acre parcel was part of a 115-acre campus that Church & Dwight inherited upon ac-quiring Carter Wallace’s con-sumer products division in 2000. Soon after, Church & Dwight retained the Cushman & Wakefield team to dispose of the property.
The assignment ultimately resulted in the campus’ bifurca-tion into four subdivisions for multiple buyers. Danzig and Nissim arranged Rockefeller Group Development Corpora-tion’s (RGDC) purchase of the 324 Half Acre Road parcel in 2006. RGDC subsequently ap-pointed the team as exclusive agent for the new construction, which replaced obsolete lab and office/manufacturing build-ings on the site. In addition to brokering the Keuhne & Nagel and Howard Berger Company leases, Danzig and Nissim also served as part of the team that orchestrated the 2008 sale of 324 Half Acre Road from RGDC to US Industrial REIT II.
“With its modern accommo-dations, Foreign Trade Zone status and visibility from the New Jersey Turnpike, 324 Half Acre Road has successfully at-tracted two solid credit tenants as well as a reputable owner,” Danzig said. “It truly is gratify-ing to see the property succeed in its second iteration. We are pleased to be part of its contin-ued success story.” n
Stan Danzig Jules Nissim
324 Half Acre Rd.
www.marejournal.com Mid Atlantic Real Estate Journal — New Jersey — May 11 - 24, 2012 — 31A
CeNtral New Jersey
RENTON, NJ — The New Jersey chapter of the American Institute
of Architects (AIA-NJ) has awarded Trenton, N.J.-based architecture and planning firm, Clarke Caton Hintz (CCH), with a Merit award in the “Interior Architecture” category of its annual Design Day Competition. The award was given to CCH for the his-toric preservation and renova-tion of the firm’s third floor office at the Trenton Masonic Temple, located at 100 Bar-rack St. in Trenton, N.J.
“Clarke Caron Hintz’s proj-ect exemplifies great historic preservation work,” said Lau-rence E. Parisi, president of AIA-NJ. “I am honored to recognize CCH for their de-sign talents, dedication and commitment to their craft and to the architectural com-munity.”
CCH discovered the unfin-ished third floor of the Trenton Masonic Temple while work-ing with the Masons to pre-pare a long-term preservation strategy for the 80-year-old building. The Grand Lodge of New Jersey, the statewide Masonic organization, ac-quired the building in 2004 for the purposes of restoring and managing its use. During the preservation work, CCH realized the potential of the extraordinary third floor and decided to undertake the reno-vation project for the firm’s new headquarters.
The Trenton Masonic Tem-ple was originally constructed in 1927 to house five lodges. The neo-classical limestone building is one of the last truly grand Masonic Lodge facilities in the state.
“The third floor had been de-signed to be three additional meeting rooms, but was never finished,” said Michael Hanra-han, associate partner at CCH and immediate past president of AIA-NJ. “With 25-to-35 foot ceilings, large exposed con-crete columns and beautiful views, this space presented tremendous opportunities, yet it had stood empty for over 80 years.”
The design for the new fa-cility takes advantage of the extraordinary spatial and material qualities of the third floor. Steel trusses supporting the roof have been exposed and new skylight openings have been added. Most of the large, open spaces remain
Interior Architecture category
Clarke Caton Hintz receives AIA-NJ Design award for its office space at the Masonic Temple
T
2011 Leasing Totals:
99.8% Occupied3,647,365 SF Leased
Leasing for lessin Central Jersey.
n Huge Foreign Trade Zonen Energy Efficient Warehouse Lighting
n 60% Lighting Bill Reductionn 20% Solar Energy Electric Rebates
n Subsidized Daycare
(732) 287-4880 205 Mill Road, Edison NJ 08837 www.hellerpark.com
Heller Industrial Parks
32A — May 11 - 24, 2012 — New Jersey — Mid Atlantic Real Estate Journal www.marejournal.com
CeNtral New Jersey
AST BRUNSWICK, NJ — River Drive Construc-tion Co., based in Elm-
wood Park has announced that the firm recently completed a new tenant fit-out at the 14,570 s/f SorinRoyerCooper law offices at Two Tower Cen-ter Blvd.
River Drive served as gen-eral construction manager. The fit-out included high-end flooring, lighting and wall coverings that updated the space in the 23-story high-rise office tower, which was built in 1988. Throughout the state of New Jersey, River Drive has
Flooring, lighting and wall coverings
River Drive Construction completes corporate fit-out for law firm in East Brunswick
E excelled in similar office fit-outs, providing their clients’ offices with the ambience they need to succeed through a broad range of cost-optimized services.
SorinRoyerCooper is a new law firm that was recently named Emerging Growth Company Law Firm of the Year in the United States by Lawyer Monthly.
“Here’s an example of how River Drive treats its clients with kid gloves, especially a law firm that’s got to burn the midnight oil and can’t really shut down,” said Joseph Lan-Two Tower Center Blvd.
gan, president of River Drive Construction. “This project also took place soon after the firm was founded, which is always a sensitive time.”
CBRE manages Two Tower Center Blvd., chose River Drive for the project.
“The office looks terrific and the River Drive team was wonderful to work with,” said David Sorin, co-managing partner of SorinRoyerCooper.
River Drive managed a new office fit-out that reflects the unique business philosophy of SorinRoyerCooper, of which three attorneys in the New
Jersey office were recently named 2012 New Jersey Su-per Lawyers, the top accolade of Super Lawyers Magazine. The company combines a com-mitment to high-quality legal service with practical business acumen to meet the needs of the wide-range of clients in the technology, software, commu-nications, Internet, alterna-tive energy, finance and other industries.
In addition to general con-struction and tenant fit-outs, River Drive provides construc-tion and consulting services to developers, management companies, end users and corporations in New Jersey, New York and Pennsylvania in sectors including science and technology, restaurant and hospitality, institutional, healthcare and retail.
The architect on the Sorin-RoyerCooper project was Aztec Total Architecture, located in Iselin, N.J., which specializes in value-added services and comprehensive solutions to businesses since 1993, and the engineer was AKF Group located in Princeton. n
SUMMIT, NJ — The own-ership of Summit Executive Center, a partnership led by industry veteran Mark Yea-ger, announced that one of investment consulting firms has signed a lease at the new, state-of-the-art business center.
Callan Associates, which signed a lease for 5,500 s/f, will relocate from Florham Park. Headquartered in San Francisco, the firm provides research, education, decision support, and advice to a broad array of institutional inves-tors.
“To be 80-percent leased be-fore completion of construction is a remarkable achievement and a testament to the high-quality business environment we are creating at Summit Ex-ecutive Center,” said Yeager.
Bill Brown and Ben Brenner of Cushman & Wakefield rep-resented the tenant, while CBRE executive vice presi-dent, Jeffrey Heller, SIOR, represented the ownership in the transaction.
A partnership led by Yeager purchased the site of Summit Executive Center in April 2011. n
Callan Associates signs 5,500 s/f lease
www.marejournal.com Mid Atlantic Real Estate Journal — New Jersey — May 11 - 24, 2012 — 33A
EWARK, NJ — The year 2011 was a “wa-tershed” in the evolu-
tion of Newark, NJ’s largest city. With $700 million worth of development underway and another $1 billion in the pipe-line, Newark’s comeback is very real, Lyneir Richardson, CEO of Brick City Develop-ment Corp. (BCDC) told at-tendees of the April luncheon meeting of ICREW NJ, held at the Newark Club.
The program’s title was “The Branding of Newark as a Des-tination for Business,” and the panel discussion was “a differ-ent kind of presentation than we’re used to,” said Monica Ceres of Giordano, Halleran & Ciesla, ICREW NJ’s direc-tor of programming. The four panelists focused on the effort behind Newark’s comeback as a business destination and how the message is being de-livered to the world business community.
BCDC is the City of New-ark’s economic development corporation, with a specific focus on “getting deals done,” said Richardson. “We term our mission as ‘pipeline to finish line’.” And one key to the city’s revival, according to Richard-son, is that recent and ongoing economic development is not just about filling office build-ings, but also about lifestyle amenities.
That includes everything from new grocery stores to ho-tel development—“the under-construction Marriott is the first new hotel in Newark in 38 years,” he said, noting that a second new hotel is now under construction as well. Also part of the growing amenity mix are new restaurants surrounding the Prudential Center Arena, and the much-heralded Teach-ers Village, which will in-clude academic programs and residences and services for the city’s teachers.
On the corporate front, Pan-asonic’s announcement of the relocation of its North Ameri-can headquarters to Newark has made major headlines, of course, “and we plan to build on that momentum,” Richard-son said. “We have in place a multi-year plan to market sites
ICREW to offer membership
Industrial Commercial Real Estate Womenof New Jersey
www.icrew.org
Industrial Commercial
Real Estate Women, Inc.
www.icrewnj.org
At ICREW NJ April Luncheon Meeting
Newark’s comeback is “Very Real,” say panelists
N
for development, from ground-breaking to lease-signing. Our time is now, and my job is to make the phone ring.”
But until recently, “Newark wasn’t on the radar screen,” said Catherine Timko, princi-pal of The Riddle Company, cit-ing the results of a communica-tion audit. The audit results launched a marketing effort that began with BCDC’s grow-ing name recognition, focusing on Lyneir Richardson’s public- and private-sector track record and “building credibility”.
“How do you convince com-mercial real estate profession-als about Newark?” Timko asked. “You focus on its loca-tional advantages and, ulti-mately, Panasonic changed the dialogue. We’re now shifting the message—we’re on the mountaintop.”
Among the city’s key assets, noted Tom Sullivan, CEO of Princeton Partners, are 40,000 college students in the one square mile of Newark’s Uni-versity Heights section, “the densest student population of anywhere in the country.” The academic names are well-known—Rutgers, Seton Hall, NJIT and UMDNJ—but the student population “is not yet integrated into the city—ac-complishing that is key.”
Other interesting facts in-troduced by Sullivan are that Newark “is the second fast-est-growing city on the East Coast. It is one of the top four cities in North America for industry, and number one for
adding value, according to a Minnesota think-tank. With its student population it is an innovation city, it is one of the more walkable and sustainable cities, and we are now seeing residential development.”
“We are going to get the mes-sage out,” Sullivan said, spe-cifically noting the launch of a new web site that will “provide an enabling voice for residents so that stories of Newark can be told from the inside out.”
“This is also a team effort to communicate Newark’s mes-sage with commercial real estate brokers,” said Madelyne Kirch, president of Sun & Moon Marketing Communica-tions. That includes not just NJ brokers, but also those in New York. “The message is that Newark is an alternative to Manhattan.”
“We polled senior brokers in New York and found that this information just wasn’t cross-ing the Hudson—there was a lack of familiarity about what is going on here. We are very excited about the branding of Newark,” she concluded. “The campaign is ongoing that Newark is a destination for business.”
The April philanthropy was in support of the AIDS Foun-dation for Children, which “has served New Jersey’s HIV/AIDS-affected families for more than 25 years,” noted Cheryl Hardt of CBRE, presi-dent of ICREW NJ. “We are very pleased to give our sup-port to this worthy cause.” n
2012 BOARD OF DIRECTORS
PRESIDENTCheryl Hardt
[email protected] ELECT AND
CREW NETWORK DELEgATEPatricia A. Riedel
[email protected] Silverstein
[email protected] SECRETARY
Rachel M. [email protected]
DIRECTOR OF MEMBERSHIPMary Lynn Kearns
[email protected], PROgRAMINg
Monica Ceres, [email protected]
CO-DIRECTOR, PROgRAMINgSusan Karp
[email protected], SPONSORSHIP
Patricia D. [email protected]
CO-DIRECTOR, SPONSORSHIPDiane Menard
[email protected],SPECIAL PROJECTS/gOLF
Robin S. [email protected]
DIRECTOR, SPECIAL PROJECTS/PRRebecca Machinga, [email protected]
ADVISOR & CREW NETWORK DELEgATE Sheila Spriggs Nall
Silvana [email protected]
ADVISOR & BYLAWSAnnette Murray, [email protected]
Shown from right: Lyneir Richardson (Brick City Development Cor-poration), Catherine Timko (The Riddle Company) and Tom Sullivan (Princeton Partners).
34A — May 11 - 24, 2012 — Mid Atlantic Real Estate Journal www.marejournal.com
PeoPle on the Move
ARNEGAT, NJ — Walters Group has been honored by the Shore Builders
Association of Central New Jersey, Inc. (SBACNJ) for their outstanding achievements in sales and marketing over the past year with four FAME (Fabulous Achievement in Marketing Excellence) Awards and five individual achievement awards. The 9th annual ceremony was attended by over 200 members and associates of the Jersey Shore building industry.
Walters won awards for Best Logo Design for a Multi-Family/Multi-Unit Community and Best Sales Office for a Multi-Family/Multi-Unit Rental for Stafford Preserve, a luxury rental commu-nity currently under construction in Manahawkin.
In the category of Best Builder Member Direct Mail Piece, Wal-ters Homes earned the award for its “Shack” postcard promotion designed by sales associates Rick
Five individual achievement awards
SBACNJ honors Walters Group with four FAME AwardsB
BORDENTOWN, NJ — Com-munity Investment Strate-gies (CIS) has partnered with the Princeton Child Develop-ment Institute (PCDI) to help make a difference in the lives of two young men with autism. According to Christiana Foglio, founder/owner and CEO of CIS and a member of PCDI’s Board of Trustees, this partnership is an example of CIS’ commitment to include non-profit partners throughout a community.
Four days a week, Shane and Dan can be found hard at work as part of the maintenance and housekeeping staff at The Clare
For autistic adults at The Clare Estate
CIS partners with PCDI creating jobs
Estate, a senior residential com-munity owned and managed by CIS. The two men were matched to their new jobs by PCDI, which provides treatment, education, and training to support people with autism beginning with early intervention for toddlers through support and guidance for adults.
PCDI has been working with Dan and Shane since they were children, and once they turned 21, they transitioned to the Adult Life-Skills Program. “We created the program 28 years ago to offer a continuity of ser-vices,” noted MacDuff. n
ROCHELLE PARK, NJ — Cassidy Turley’s vice president, principal Andrew Houston was recently hon-ored with the Rising Star Award from NAIOP New Jer-sey for his outstanding service to the organization.
An active member of NAIOP New Jersey for the past five years, Houston has consistent-
Cassidy Turley’s Andrew Houston receives NAIOP New Jersey Rising Star Award
ly demonstrated exemplary leadership skills on behalf of the organization. A member of the corporate/developing leaders team, Houston serves as co-chair of the programs committee and took part in the Chapter’s Strategic Plan-ning day, as well as serves as a discussion leader for the June “Mid-Year Economic
Roundup” seminar. “Andrew is an extremely hard working individual who is dedicated to the real estate industry. This is a wonderful accomplish-ment for Andrew and we are very proud he has received this prestigious award from NAIOP,” said David Simon, Cassidy Turley managing prin-cipal, New Jersey. n
TEANECK, NJ — David Stifelman, executive director of Cushman & Wakefield, will address the Northeast New Jersey Chapter Ap-praisal In-stitute at its 6th Annual Meadowlands Conference on May 17, 2012, with a presentation titled “What’s Driving the Newark, N.J. Office Market?” The event is slated for 8:30 a.m. at the Te-aneck Marriott at Glenpointe.
“I will discuss the progress and potential for New Jersey’s largest city, including a market overview of its history and re-birth, current office inventory, and the role of the city’s infra-structure,” said Stifelman. “For the current market, I will review
May 17: Cushman & Wakefield’s Stifelman to address Appraisal Institute conference
the fundamentals, including leasing velocity and vacancy and rental rates, sales activity and pricing, and a ground-level perspective on demand.
“This presentation will also take a look at some of the suc-cess stories, the demand driv-ers, and what I call the ‘game changers’ – Panasonic and Pru-dential, and the Urban Hub Tax Credit that facilitated those success stories,” said Stifelman. “Other topics will include hotel and multi-family development and the ripple effect on the of-fice market, and the long-term outlook for Newark.”
Also on the day’s program will be a presentation by Ron Beit of RBH Group on his company’s Teachers Village development in Newark, a project combining academic buildings with residences and retail uses. Larry Leib, CCIM
of The CoStar Group will speak about how CoStar Property Professional can be used in the valuation process by using the income method. Jim Kirkos of the Meadowlands Regional Chamber of Commerce will discuss “The Meadowlands from X to A and the Economic Impact of Super Bowl XLVIII.” And Jonathan Miller of Miller Samuel Inc. will provide an interpretation of the residential real estate economy.
The concluding panel is titled “The Experts Tell All About the New Jersey Real Estate Market.” Panelists will include Matthew Harding of Levin Management, discussing retail; Michael Seeve of Mountain De-velopment Corp. (office); Robert Tillsey of McBride National Ser-vices (industrial); and Matthew Schnurr of Newmark Knight Frank (multifamily). n
Pictured left to right: Danielle Edreff, Pam Schuster, Melissa Giarratano, Rick Saparito, Ed Walters, Michele Bowcock and Laurie McManus; Back Row is Greg Walters, Joe Buscio, and Rylie Ragan.
Shown from left: Dan and Shane appreciate the opportunity to work as part of the maintenance and housekeeping staff at The Clare Estate, in Bordentown owned and managed by CIS. The two men were matched to their new jobs by PCDI, which provides treatment, education, and training to support people with autism beginning with early intervention for toddlers through support and guidance for adults.
David Stifelman
MORRIS PLAINS, NJ — Weichert Commercial Brokerage appointed two real estate p r o f e s -sionals to W e i c h e r t C o m m e r -cial’s corpo-rate head-quarters of-fice.
J o i n i n g the team are sales associates Edward Costa and Zena Serrano.
Weichert Commercialappoints Costa and Serrano
Costa joins Weichert as a sales associate. Costa brings with him over 45 years of
experience in construc-t ion man-agement and commercial real estate.
S e r r a n o brings more than 15 years of experience
in valuation of commercial real estate for tax appeal, acquisition and appraisal.n
Edward Costa Zena Serrano
VOORHEES, NJ – Wolf Commercial Real Estate (WCRE) is pleased to an-nounce the h i r i n g o f Leor Hemo as Executive Vice Presi-dent. Hemo has 12 years of experience as a commer-cial real es-tate professional, salesperson,
and as managing partner at several holding companies. His areas of expertise include sales and leasing, investments, site identification, financing, acquisition, renovation, and property management.
In his new role at WCRE, Hemo will focus on building relationships with current and prospective clients and developing custom solutions to achieve their real estate goals. n
Leor Hemo
WCRE announces Hemo as executive VP
Saparito Jr, and Michele Bow-cock. The Walters Homes luxury design center in Barnegat also won for Best Corporate Design Center. Last summer, the design center was opened, showcasing options and upgrades available to home buyers at Ocean Acres at Barnegat and Whispering Hills.
Individual Achievement Awards were presented to three
Walters Homes employees. For excellence in sales in the Million Dollar Club category, Laurie Mc-Manus won for New Home Sales at the Silver Level with over $7 million in sales. Rick Saparito won at the Bronze Level with over $3 million in sales. Danielle Edreff won for Options/Upgrade Sales Achievement with over $1.2 million in sales. n
www.marejournal.com Mid Atlantic Real Estate Journal — May 11 - 24, 2012 — 35A
Welcomes Danahy to head new office
NAI Emory Hill openssecond location in Lewes
LEWES, DE — NAI Emory Hill is opening a second loca-tion in Lewes to better serve the needs of its commer-cial real es-tate clients i n S u s s e x County. With the opening of the new of-fice, Emory Hill hopes to grow from its strong roots in New Castle County to expand its offerings throughout the entire state of Delaware.
Brittany Danahy has joined Emory Hill to head the new office as a commercial real estate broker. Brittany comes to Emory Hill from Sperry Van Ness/Miller Commer-cial Real Estate where she specialized in the sale and lease of retail and professional office space throughout Kent and Sussex counties. Prior to joining Sperry Van Ness, she served as a commercial realtor for Ocean Atlantic Commercial, which she played an integral
role of creating and growing. A graduate of the University of San Diego, Brittany majored in Business with an emphasis in Real Estate and has also worked for Grubb & Ellis/BRE Commercial and Marcus and Millichap.
As a licensed real estate bro-ker in both Delaware and Cali-fornia, she looks forward to the global resources and local con-nections that NAI Emory Hill will provide to better serve her clients. “I am thrilled to work with NAI Emory Hill because they have such a huge array of commercial property listings throughout the state,” Danahy said. “I’m joining an outstand-ing team of knowledgeable and experienced professionals including a top-notch support staff and can now offer my clients so much more including exceptional marketing capabili-ties and connections. Plus we offer the state’s largest variety of real estate services including construction, property man-agement, maintenance and residential sales.” n
HILADELPHIA, PA — Pennoni Associ-ates announced the
promotion of six new associate vice presidents.
“Becoming an Officer of Pennoni Associates is truly an honor, one that shows earned respect, trust, and confidence of Pennoni’s Board of Direc-tors, and also of peers, col-leagues, and subordinates,” said Pennoni president and CEO Tony Bartolomeo. “These outstanding individuals have demonstrated the skills, val-ues, integrity, pride in their profession, and business acu-men necessary to represent our firm as an Officer.”
Erin Bushnell, SPHR serves as the director of hu-man resources and has been with the firm for more than 10 years.
James Markham, PE serves as the transportation division manager in the Phila-delphia office.
Melissa Rysak, CPSM
Larry Bankert, PE, PTOE, serves as transportation divi-sion manager in the Mechan-icsburg office.
Thomas Blank, CIH, CSP serves as office director for the Monroeville office. n
Bushnell, Markham, Rysak, Bankert, Hassan & Blank
Pennoni announces associate vice president promotions
EAST RUTHERFORD, NJ — Curtis Foster has been promoted to the position of ex-ecutive vice president at commercial real estate services firm Cushman & Wakefield. Foster began his career at the East Rutherford-based company 27 years ago and has risen through the ranks as one of its consistently top-producing leasing brokers.
He has received his firm’s Service Excellence Award for “Outstanding Brokerage Professional – Best in Class in Pursuit of Total Client Sat-isfaction” multiple times.
“Cushman & Wakefield is known as a career company in an industry where profession-als tend to jump from place to place, and I am the proof,” Foster noted. “I chose this firm because of its pristine brand, and I have remained here for the same reason. Cushman & Wakefield is a world-recog-nized, well-respected service provider, and to this day I am humbled to be able to carry its card. This company has afforded me the opportunity
to expand my focus on a na-tional basis, collaborate with colleagues and establish long-standing, loyal client base.”
Foster frequently ranks among Cushman & Wake-field’s Top 100 brokers glob-ally, including the past four consecutive years. In 2010, he was among the firms Top 10 New Jersey brokers and last year was the highest produc-ing leasing broker in its East Rutherford office. Foster also is a Cushman & Wakefield shareholder.
“The executive vice presi-dent position at Cushman & Wakefield reflects a level of success made possible only through focus, dedication, per-sistence and integrity,” said Gualberto “Gil” Medina, the firm’s New Jersey executive managing director. “However, above all else, success here hinges on impeccable client service. Curtis embodies the best attributes that define the heart of this company. His promotion is very well deserved.”
Foster earned a bachelor’s degree in business adminis-tration from American Uni-versity-Kogod School of Busi-ness. He is a licensed real estate broker in the state of New Jersey. n
Cushman & Wakefield promotes Foster to executive vice president
Curtis Foster
serves as the director of corpo-rate communications and has been with the firm for eight years.
Khaled Hassan, PE serves as the office director for King of Prussia, PA.
Brittany Danahy
P
BETHESDA, MD — Ralph Duarte, CCIM has joined the Sperry Van Ness – Miller Commercial Real Estate team. Duarte will be operat-ing a satellite office of SVN – Miller in Bethesda.
Duarte was previously affili-ated with Sperry Van Ness and just recently joined the SVN – Miller team. Prior to joining
Sperry Van Ness - Miller Commercial Real Estate expands to Washington, DC
Sperry Van Ness, Duarte was a senior vice president for CapStar Commercial Realty, where he listed, leased and sold more than $12 million in commercial property in his first 12 months. While at CapStar, his primary focus was investment property sales and leasing services.
Duarte brings more than 30
years of real estate industry experience to the SVN – Miller team. He holds the Certi-fied Commercial Investment Member (CCIM) designation, serves as the president-elect of the Maryland/Washington, D.C. CCIM Chapter, and is also a member of the Interna-tional Council of Shopping Centers (ICSC). n
VOORHEES, NJ — Wolf Commercial Real Estate (WCRE) welcomed Scott Selig-man (shown) as director, business de-velopment. Seligman is a n a w a r d -w i n n i n g professional with nearly
twenty years of experience in commercial real estate devel-opment, advisory services, the insurance industry, and invest-ment services.
Over the course of his career he has successfully advised and serviced clients ranging from start-ups to small businesses to large corporations on invest-ments, insurance, site usage, benefits, and other aspects of
WCRE hires Seligman as director of business developmentbusiness.
At WCRE, Seligman will be responsible for the company by building relationships with prospective clients and develop-ing custom solutions to achieve their real estate goals. He will also work to cultivate the next generation of real estate inves-tors, and provide support and resources to help more experi-enced investors advance. n
BARNEGAT, NJ — Walters Group has been honored by the Shore Builders As-sociation of Central New Jersey (SBACNJ) with four FAME (Fabulous Achieve-ment in Marketing Excel-lence) Awards and five indi-vidual achievement awards.
Walters won awards for Best Logo Design for a Multi-Family/Multi-Unit Commu-
Shore Builders Association of CNJ honors Walters Groupnity and Best Sales Office for a Multi-Family/Multi-Unit Rental for Stafford Preserve.
In the category of Best Builder Member Direct Mail Piece, Walters Homes earned the award for its “Shack” post-card promotion. The Walters Homes luxury design center in Barnegat also won for Best Corporate Design Center.
For excellence in sales in the Million Dollar Club cat-egory, Laurie McManus won for New Home Sales at the Silver Level with over $7 mil-lion in sales. Rick Saparito won at the Bronze Level with over $3 million in sales. Danielle Edreff won for Op-tions/Upgrade Sales Achieve-ment with over $1.2 million in sales. n
PeoPle on the Move
36A — May 11 - 24, 2012 — Mid Atlantic Real Estate Journal www.marejournal.com
1100 East Hector Street, Suite 393Conshohocken, PA 19428
Phone/Fax: 610-238-9950 / 610-238-9959E-Mail: [email protected]: www.tristaterca.com
PresidentJ. Gregory Ellis, CCIM
Patterson Woods Commercial
Sponsorship opportunities available for 16th annual event at LIanerch Country Club in Havertown, PA
TriState REALTORS® Commercial Alliance invites region’s Commercial Real Estate Community to Annual Golf Outing on July 16th
CONSHOHOCKEN, PA — TriState REALTORS® Commercial Alliance and TriState Brokers Commercial Alliance are inviting the region’s commercial real estate community to come together and hit the links. The leading advocate and provider of continuing
education for commercial real estate practitioners in Pennsylvania, Delaware and New Jersey will host its 16th Annual Golf Outing on Monday, July 16, 2012. Held in conjunction with the PA/NJ/DE Chapter of CCIM, the event will take place at the famed Llanerch
Country Club in Havertown, Pa.
Registration for the event will commence at 11:30 a.m., followed by a buffet lunch and shotgun start at 12:30 p.m. Starting at 5:30 p.m., attendees will enjoy cocktails, dinner, raffle prizes and an awards ceremony.
Throughout the event, a silent auction will be held to benefit ACHIEVEability, a nonprofit organization that values education and accountability in helping needy families achieve self-sufficiency.
“This event is one of the highlights of the year for the TriState membership,” said J. Gregory Ellis, CCIM, President of TriState REALTORS® Commercial Alliance. “It provides an opportunity for commercial real estate professionals to meet and mingle with other
members of their industry in a casual atmosphere. We look forward to a great day on a beautiful course.”
Sponsorship opportunities are available at a variety of levels, and all sponsors are invited to donate promotional items for the golfers’ giveaway bags. The corporate sponsorship is priced at $1,500 and includes lunch/golf/dinner for one, special logo signage at the event
including new PowerPoint recognition throughout the event, logo inclusion in TriState’s weekly newsletter and all email blasts, in addition to special acknowledgement at the reception.
Other sponsorship opportunities include:
• Cocktail Sponsors with Logo: $1,250• Golf Bag Tags with Logo: $1,000• Cart Banners with Logo: $1,000
• Pin Toppers with Logo: $500• Putting Contest: $500
• Beat-the-Pro Contest: $500• Putting Green: $350
• Hole-in-One Sponsor: $350• Driving Range: $350
• Beverage Stations: $325• Closest to the Center Line: $300
• Closest to the Pin: $300• Longest Drive: $300
• Pin Sponsors, including Flag with Logo: $300• Tee Sponsors: $250
The cost for the outing is $200 per person. To sign up or find out more about sponsorship opportunities, please contact Michelle Winkler Milone at 610-238-9950.
About TriState REALTORS® Commercial Alliance
Founded in 1993, the TriState REALTORS® Commercial Alliance is a leading advocate for commercial real estate professionals in New Jersey, Delaware and Southeastern Pennsylvania. TriState operates The Commercial Real Estate School of New Jersey, which focuses on continuing education, creating an opportunity to network and presenting industry-oriented seminars. TriState seeks to advance the financial well being, industry stature, and professional growth of each member. The group also speaks as a unified voice on legislative and community issues, promotes ethical standards of conduct and provides specialized services relative to the needs of its members. For additional information, please visit tristaterca.com or tristatecres.com.
www.marejournal.com Mid Atlantic Real Estate Journal — May 11 - 24, 2012 — 37A
38A — May 11 - 24, 2012 — Mid Atlantic Real Estate Journal www.marejournal.com
NEW
THE WHOLE BUILDING HANDBOOKHow to Design Healthy, Efficient and
Sustainable BuildingsVaris Bokalders and Maria Block
March 2010 Paper, $77.95
NEW
WHOLE SYSTEM DESIGNAn Integrated Approach toSustainable Engineering
Peter Stasinopoulos, Michael H. Smith,Karlson 'Charlie' Hargroves, and
Cheryl Desha2009 Paper, $38.95
THE ELEMENTS OF ARCHITECTUREPrinciples of EnvironmentalPerformance in Buildings
Scott Drake2009 Paper, $48.95
WIND ENERGY—THE FACTSA Guide to the Technology, Economics
and Future of Wind PowerEuropean Wind Energy Association
(EWEA)2009 Cloth, $97.50
NEW
PHOTOVOLTAICS IN THE URBANENVIRONMENT
Lessons Learnt from Large Scale ProjectsEdited by Bruno Gaiddon, Henk Kaan,
and Donna Munro2009 Cloth, $96.00
NEW
BUILDING FOR A CHANGINGCLIMATE
The Challenge for Construction,Planning and Energy
Peter F. Smith2009 Cloth, $72.00
NEW
GATED COMMUNITIESSocial Sustainability in Contemporaryand Historical Gated Developments
Edited by Samer Bagaeenand Ola Uduku
March 2010 Cloth, $96.00
NEW BOOKS FROM
Save 20%AND ORDER THESE AND OTHER TITLES FROM EARTHSCAN AND OTHER PUBLISHERS FROM THE:
MID ATLANTIC REAL ESTATE JOURNALMail address: PO Box 26, Accord, MA 02018 312 Market Street Rockland, MA 02370
Phone: 781-871-5298 Toll-Free: 800-584-1062 http://www.njpajournal.com/index.htm
DEVELOPINGWIND POWER
PROJECTSTheory andPractice
Tore Wizelius2007
Paper, $85.00
URBAN WINDENERGYSinisa Stankovic,Neil Campbell,and Alan Harries2009Cloth, $97.50
www.marejournal.com Mid Atlantic Real Estate Journal — May 11 - 24, 2012 — 39A
Mid AtlAntic Business Card serviCe direCtory
General ContraCtor
Ted C. Williams, P.E.Principal, Business Development
LandmarkJCM100 West Commons Blvd., Suite 301New Castle, DE [email protected]
New Castle, DE Headquarters|302.323.9377Dover, DE|302.734.9597
Georgetown, DE|302.854.9138Wayne, PA|610.687.1976
Havre de Grace, MD|410.939.2144
www.landmarkjcm.com302.323.9377
site enGineerinGlaundry serviCes
FowlerThe Commercial Laundry Specialists
www.fowlercompanies.com
Serving apartment communities since 1952 * Commissions - Sales - Service
Call Fowler today to find out howwe can make your laundry roommore profitable.
800-334-1824 X127
LAUNDRY SERVICES
snow & iCe ManaGeMent
Snow & Ice Solutions™
The Mark of Excellence in Zero Tolerance Snow and Ice Management
Certifi ed Snow Professionals On Staff
• Zero Tolerance • Liquid Anti-Icing• Risk Management – • Certifi ed Weather Reports Reducing Your Liability Exposure
877-DE-ICE-IT
431405_Cenova.indd 1 7/17/09 11:26:51 AM
BankinG serviCes & loans
Would like to be included on this page call:Linda Christman
[email protected](800) 584-1062 / (781) 871-5298
Fax (781) 871-5299 or
Your Account ExecutiveMid Atlantic real estate Journal
Make yourbusiness card work as
hard as you do
for more info
Call Linda Christman
781-871-5298/800-584-1062
Pr / MarketinG
If you do not have a business card readily available,our art department will design one for you at no extra charge!
ConsultinG
Bruce Coinbrucecoin.com
[email protected]•(856) 906-8210
CoMMerCial real estate
Art Campbell, [email protected]
Ph: (717) 737-6161 -9640
40A — May 11 - 24, 2012 — Mid Atlantic Real Estate Journal www.marejournal.com
We’re looking for sites in PA
End Cap, In-line, Free StandingFlexible Space Requirements
realestate.subway.com
RE_ad_version1.qxp 11/2/2005 11:54 AM Page 1
Non-Traditional Venues - Hospitals/CollegesUniversities/B&I/Stadiums/Casinos/Airports
www.subway.com
Eastern PA — 610-366-8120 x 24, Cheryl Green [email protected] PA — 610-768-8990, Rawley Shelton [email protected]
Locations Wanted Consistently Ranked #1 Franchise -
45+ Year Track Record
Local Contacts:
HigH VisibilityDirect Mailing to over 25,000 Readers
billboard Advertising Pays Off!!
Name _________________________________________________ Company ______________________________________________
Address _______________________________________________City _______________________State __________Zip __________Phone _____________________Fax ________________________
Single Block 2 3/8 x 3 5/8”
Double Block 5 x 3 5/8”
AvAILAbLeCall us @
800-584-1062
Mid Atlantic Real estate JouRnal
Classifieds • Classifieds • Classifieds • Classifieds • Classifieds • Classifieds • Classifieds • Classifieds • Classifieds BILLBOARD
Coldwell Banker CommercialBennett Williams110 N. George Street; 4th floorYork, PA 17401
www.bennettwilliams.com717-843-5555
Commercial Leasing/Sales
Property Management
Landlord Representation
Tenant Representation
Site Selection
95,000 sf office building/educational/research/ conference facility on 18 acres. Easily accessible to Interstates 81, 380, 84 and 476 from US Rt. 6. Many offices, laboratories, a 250 seat lecture hall. Paved parking for 260.
For Sale - Mayfield, PA
www.hinerfeldcommercial.com
VACANT LAND ON RT 315 WILKES-BARRE, PA 10.20
ACRES NEXT TO MOHEGAN SUN CASINO &
RACETRACK
All utilities. Great visibility. Zoned commercial.
Also 2 franchised business opportunies for sale. 1 unit
at the PA turnpike.
Call Joe Gilroy: 570-288-1444 or 570-690-0394
Joseph P Gilroy Real Estate570-288-1444
Single Block (2 3/8 x 3 5/8”) - Once $95 - Twice $160 5 issues - $300 Prepay - $250
Double Block (5 x 3 5/8”) - Once $160 - Twice $2805 issues - $575 Prepay - $475
Other Rates AvailablePlease call Linda Christman for more info at 1-800-584-1062 x 203 [email protected]
www.marejournal.com Mid Atlantic Real Estate Journal — May 11 - 24, 2012 — Inside Back Cover A
The NJAA Annual Conference & Expo is the ultimate industry showcase for New Jersey’s multifamily housing professionals to connect and learn how to navigate today’s rapidly changing marketplace for success. This year’s show will give you access to:
- More than 1,300 New Jersey apartment industry professionals ready to learn, network, and build partnerships- A packed show floor loaded with the latest products and services - A conference program filled with the latest information on the topics concerning you and your team such as, hoarding, leasing, maintenance for managers, managing your reputation, recycling, sustainability and more!- More networking than ever—from the golf outing to show floor to the After Hours Party
Don’t miss out on your opportunity to stock your business toolkit with the invaluable opportunities the NJAA Conference & Expo offers—visit njaa.com/annual-conference-and-expo-2012 today to view the latest show information and register!
We are pleased to announce our 2012 Keynote Speakers:
Legislative Awards Presentation on Tuesday
Monday, May 218:30am Golf Outing - Ballamor Golf Course11:00am-3:00pm Registration Open11:00am-7:00pm Exhibitor Set-up5:30pm-7:00pm Satellite Registration - Borgata Hotel5:30pm-7:00pm Diamond Reception - Borgata Hotel (by invitation only)7:00pm-9:00pm President’s Reception - Borgata Hotel (ticketed event)Tuesday, May 227:00am-5:00pm Registration Open7:30am-9:00am Networking Breakfast9:15am-10:30am Keynote Address & Legislative Awards How to Win an Unfair Fight10:30am-2:45pm Expo Floor Open12:00pm-1:30pm Networking Lunch (on the Expo floor)2:45pm-3:45pm Educational Sessions Never Say No Comment Online Concerns Time Isn’t On Your Side Hands On Maintenance Tips & Tricks2:45pm-5:00pm Educational Session Hot Topics in Fair Housing 4:00pm-5:00pm Educational Sessions Legislative Update 2012
Tuesday, May 22 Maintenance For Managerscontinued Leasing: The New SHEconomy Being the Best vs. Being Consistently Chosen 9:00pm-1:00am After Hours Party - MIXX at the Borgata (ticketed event)
Wednesday, May 237:30am-1:00pm Registration Open7:30am-8:30am Grab and Go Breakfast8:30am-9:30am Education Sessions Recycling and Sustainability Satisfaction vs. Loyalty Maintaining Your Commercial Boiler The Power of First Impressions JAHMA – REAC Inspection Preparation 9:45am-10:45am Keynote Address The Stetson Experience 10:45am-1:30pm Expo Floor Open12:00pm-1:30pm Networking Lunch (on the Expo floor)1:30pm-2:30pm Educational Sessions How to Fund Retrofits Understanding & Dealing With Hoarding Leasing: Closing is a Process, Not an Event JAHMA Appealing Your REAC Inspection Hands on Appliance Maintenance & Repair
T U E S D AYGarrison WynnHow to Win an Unfair Fight: What The Most Influential People Do Differently9:15am – 10:30am
W E D N E S D AYJon StetsonThe Stetson Experience9:45am – 10:45am
T U E S D AYUpdate from the Department of Community AffairsThe Honorable Richard E. Constable, IIICommissioner
Housing ChampionAsw. L. Grace SpencerChair, Assembly Environment Cmte(D-Essex)
Legislator of the YearSenator Steven V. Oroho(R-Sussex, Warren & Morris)
Join Us for the 23rd Annual NJAA Conference & ExpoMay 21 - 23, 2012 :: Atlantic City Convention Center
CONFERENCE SCHEDULE : : (All events to take place at the AC Convention Center unless otherwise noted)
For more information please visit njaa.com or contact us at 732-992-0600 or [email protected].
Register today! Visit njaa.com or contact us at 732-992-0600 or [email protected] for details.
Back Cover A — May 11 - 24, 2012 — Mid Atlantic Real Estate Journal www.marejournal.com
When our real estate clients have questions, they need the right answer at the right time.
So they need lawyers who combine deep legal experience with sound business sense.
This is what motivates us to work harder, continually expanding our versatility and pushing
the limits of our collective skills. At Riker Danzig, we understand that no matter how much
success we have realized, what you’re interested in are the results we get today.
MORRISTOWN, NJ 973.538.0800
TRENTON, NJ 609.396.2121
NEW YORK 212.302.6574
LONDON AFFILIATE +44 (0) 20 7877 3270
W W W.RIKER.COM
AT THE END OF THE DAY,YOU WANT RESULTS.
SO THAT’S HOW WE BEGIN EACH DAY.
Section B of the Mid Atlantic Real Estate Journal
SHOPPING CENTERSPENNSYLVANIA
Bachner of Phillips Nizer reps seller & Hammer of Brach Eichler reps purchaser
Kislak president Holland completes $46.1 million sale of 518-unit Hershey Heritage Village
ANCASTER, PA — The Kislak Company, Inc., announced the
$46,100,000 sale of Her-shey Heri-tage Village, a 518-unit apartment c o m p l e x located at 1330 Wa-bank Road in Lancaster. Kislak president and co-managing director Robert Holland represented both parties, private inves-tors, in the transaction. The sale of Hershey Heritage Village marked the successful completion of a Section 1031 exchange. In January, Kislak
ALSO INSIDE:
HI-LIGHTS
www.marejournal.com
MAY 11 - 24, 2012
PA PROJECTS & BUILDING SERVICES SPOTLIGHT ..........3-11BCREW LEHIGH VALLEY ...................................................12BPA PEOPLE NEWS .............................................................16B
CDA&I Architecture & Interiors celebrates 20 yearsFounded in 1992 and dedicated to the integration of architecture and interior design, CDA&I Architec-ture and Interiors, Ltd. of Philadelphia celebrates its 20th anniversary this year. See page 4-5B.
YORK, PA — Panattoni De-velopment Company, Inc. has arranged a 12 year lease for L’Oreal USA to occupy an ex-isting facility of 193,000 s/f in East Manchester Township, York County, PA. The build-ing, located at 75 Steamboat Boulevard and purchased in July 2011, was previously used as a materials handling facility for Harley Davidson Motor Company.
Ed Dudzinski and Richard Greenberg of Atlantic Real Estate Services represented the tenant. Pat McBride and Gerry Blinebury of Cushman
McBride & Blinebury of Cushman & Wakefi eld rep the owner
Panattoni Development Company leases 193,000 s/f to L’Oreal in York
handled the $36,700,000 sale of a four-property multifam-ily portfolio with a total of 430 units in Bethlehem, Pennsylvania. The seller of the Bethlehem portfolio purchased Hershey Heritage Village. “This was an extraordinary opportunity to acquire a single asset with more than 500 units in a very desirable location and market,” said Holland. “The seller was the original developer of the property and had owned it for nearly 40 years.” The properties are located in suburban Lancaster in south central Pennsylvania near many regional employers one hour from Philadelphia.
“Given the strong regional rental market, the purchaser was looking to expand its lo-cal presence,” added Holland. “This was also a value-added opportunity. By upgrading the units’ kitchens and bath-rooms, the property will com-mand higher rents.” Financing was arranged by Patricia Patriarca of The Provident Bank. The seller was represented by Robert Bachner, Esq. of Phillips Nizer LLP of New York City. The purchaser was rep-resented by Alan Hammer, Esq. of Brach Eichler, LLC of Roseland, New Jersey. At the time of closing, the prop-erty was approximately 95% occupied. n
L
Quarry Center — 300 Million Years in the Making! R i s i n g f r o m 5 0 f e e t below sea level, 32 acres in Haverford Township, Pennsylvania are being transformed into 250,000 s/f shopping center to be known as Quarry Center. See page 7-9B.
Hershey Heritage Village
Robert Holland
& Wakefi eld represented Pan-attoni in the transaction.
L’Oreal will utilize the fa-cility to serve its Salon Cen-tric division, with overnight deliveries to retail locations throughout the Northeastern United States. The opera-
tion will create 100 full time jobs, and is scheduled to be fully operational in the Fall of 2012.
R.S. Mowery & Sons is serv-ing as construction manager for the improvements to the building. n
75 Steamboat Boulevard
Visit us at The ICSC RECON Las Vegas ConferenceMay 21-23, 2012
Las Vegas Convention CenterBooth S246 Q Street, South Hall
hi a e hia Of ce 215.531.7000ashington C Of ce 202.536.3700
www.marcusmillichap.com
Mark Taylor Dean Zang Christopher MunleyDerrick Dougherty Peter Snell
Shopping Center & Net Lease Sales Specialists
B Inside Cover — May 11 - 24, 2012 — Pennsylvania — Mid Atlantic Real Estate Journal www.marejournal.com
Corporate Headquarters940 Haverford RoadBryn Mawr, PA 19010610-552-6000wprealty.com
AcquisitionsJoseph R. Staugaard, III, [email protected]
LeasingCharter Realty & Development Corp.203-227-2922chartweb.com
TURNING VISION INTO VALUE
ACQUISITION, RENOVATION, AND DEVELOPMENT ENCOMPASSING45 SHOPPING CENTERS, 10 MILLION SF OF RETAIL IN 10 STATES
NEW ACQUISITION! CHESTERFIELD MARKETPLACE, RICHMOND, VIRGINIA
428,500 SF retail shopping center anchored by Home Depot,PetSmart, and ToysRUs
40,000 SF anchor space available
Shaw's Plaza, Easton — 103,000Shaw's Plaza, Hanover — 57,000Shaw's Plaza, Plymouth — 178,000Springfield Plaza, Springfield — 512,000
New HampshireHood Commons, Derry — 210,000Hooksett Village Shops, Hooksett —
257,000
New YorkColonie Plaza, Albany — 168,000Columbia Plaza, Rensselaer — 136,000Irondequoit Plaza, Rochester — 216,000Lake Shore Plaza, Lake Ronkonkoma —
95,000Malone Plaza, Malone — 178,000Saranac Lake Plaza, Saranac Lake —
68,000St. Lawrence Plaza, Massena — 166,000
ConnecticutMeriden Parkade, Meriden — 225,000
MaineAirport Mall, Bangor — 232,500Capitol Shopping Center, Augusta —
200,000JFK Plaza, Waterville — 174,000Shaw's Plaza, North Windham — 124,000Shaw's Plaza, Waterville — 119,000Wells Plaza, Wells — 133,000
MassachusettsCushing Plaza, Cohasset — 71,000Danvers Crossing, Danvers — 176,000Foxborough Plaza, Foxborough —
121,000Hannaford Bros., Waltham — 46,000Middleborough Crossing,
Middleborough — 132,000
Ohio Boardman Plaza, Youngstown — 625,000Fairlawn Town Centre, Fairlawn —
447,000Knox Village Square, Mount Vernon —
207,500
PennsylvaniaCarlisle Crossing, Carlisle — 368,000 Columbia Mall, Bloomsburg — 352,000Dauphin Plaza, Harrisburg — 216,000Devon Village, Devon — 90,000East End Centre, Wilkes-Barre — 306,000Mayfair Shopping Center, Philadelphia —
115,500Valmont Plaza, Hazleton — 200,000West Side Mall, Edwardsville — 423,000
Rhode IslandDiamond Hill Plaza, Woonsocket —
387,000Marketplace Center, Warwick — 194,000
VirginiaChesterfield Marketplace, Richmond —
428,500
New Acquisitions
www.marejournal.com Mid Atlantic Real Estate Journal — Pennsylvania — May 11 - 24, 2012 — 1B
16 Lebanon Valley Parkway • Lebanon, PA 17042phone (717).274.3180 • fax (717).274.1367www.lvedc.org
Brokers Protected
Physical Characteristics•Size: 120 Acres (sub-dividable)•Location: In Lebanon County, PA•Topography: Generally flat with elevation between 450.0-510.0 ft.•Zoning: Industrial and Office
Utilities•Water: City of Lebanon Water Authority, 12" line•Sewage: City of Lebanon Water Authority, 18" line•Gas: UGI utilities, 6" line•Electricity: Met-Ed, A FirstEnergy Company, 69KV
Transportation•Rail: Norfolk Southern Railway•Highway: I-76, I-78 & I-81 are located 9 miles from site•Air: Harrisburg International, 20 miles
PENNSYLVANIA
2B — May 11 - 24, 2012 — Pennsylvania — Mid Atlantic Real Estate Journal www.marejournal.com
PENNSYLVANIA
a section of the
Mid Atlantic Real Es-tate Journal
P.O. Box 26, Accord, MA 02018781-871-5298 • 800-584-1062
fax 781-871-5299MAREjournal.com
Section PublisherElaine Fanning
Section EditorRachel Rugman
PennsylvaniaReal Estate Journal
110 N. George Street, 4th floor York, PA 17401
ph: 717-843-5555 fax: 717-843-5550
www.bennettwilliams.com
SERVING CENTRAL PENNSYLVANIA FOR OVER 50 YEARS • Landlord Representation
• Tenant Representation
• Investment Sale & Acquisition
• Site Selection
• New Construction Leasing & Development
• Property & Portfolio Dispositions
• Property Management
Our Core Service Areas: • Site Traffic Development
• Traffic Engineering
• Transportation Planning
• Highway / Roadway Design
• Traffic Signal Design
• Parking Studies
• Expert Consultation
Our Retail / Commercial Sectors : • Retail Centers / Big Box
• Commercial Office
• Fuel / Convenience
• Food / Grocery
• Pharmacy
• Restaurants
• Banking
• Hotels
York Town Center
Gateway Gettysburg
Buckhorn Plaza
Shoppes at Tecport
www.consulttrg.com204 N. George Street, Suite 110 · York, PA 17401-1108
T:(717) 846-4660 · F:(717) 846-4858Consulting Engineers & Planners
Environmental & Geotechnical Engineers & Consultants
NEW JERSEY35 Technology DriveWarren, New Jersey 07059 908.668.7777
Complete. Integrated. Service.
www.whitestoneassoc.comServing the Northeastern United States
PENNSYLVANIA1600 Manor Drive, Suite 220
Chalfont, Pennsylvania 18914 215.712.2700
SUSQUEHANNA, PA — NAI CIR announces the following lease transactions: Mei Jian Logistics, Inc. is opening an additional location in 5,000 s/f of warehouse space it has leased at 1405 Hagy Way, Susquehanna Twp. Ida McMur-ray of NAI CIR handled the lease transaction. Floor-It Flooring is relocating into 3,200 s/f of offi ce and ware-house space at 1017 Eisenhower Blvd., Swatara Twp. Ida Mc-
Murray of NAI CIR represented both Floor-It and the landlord, Jay Crum. Mission Critical Partners, Inc., an executive consulting fi rm, is relocating into 2,316 s/f of offi ce space it has leased at 2578 In-terstate Dr., Susquehanna Twp. Jason Sourbeer of NAI CIR rep-resented the landlord, Conner Management Group, LLC, and Todd Decker of Realty Manage-ment Associates represented Mission Critical Partners. ■
McMurray of NAI CIR handles 5,000 s/f lease
EMOYNE, PA- Camp-bell Commercial Real Estate, Inc. announced
the following transactions: The Cumber-land County Tax Bureau has leased 8,100 s/f of office space at 21 Water-ford Drive, Mechanicsburg, from Water-ford Med Partners and will be relocating the offi ces of the Tax Bureau to the location in July.
Art Campbell, president of Campbell Commercial Real Estate, Inc. represented both parties in the transaction. The Kidney Foundation of Central PA has leased offi ce space at 1500 Paxton Street, Harrisburg from Paxton Street Properties, LLC.
Art Campbell of Campbell Commercial Real Estate, Inc. represented both parties in this transaction.
Evergreen Property Trust, LLC has recently purchased (3) industrial building sites totaling 40 +/- acres within Upper Allen Business Park along Independence Avenue, Mechanicsburg, Upper Al-
Grace of Landmark Comm’l./ONCOR Int’l. reps the buyer
Campbell of Campbell Comm’l. leases 8,100 s/f offi ce space
len Township, Cumberland County, Pennsylvania.
Jason Grace, CCIM, SIOR and Vice President at Land-mark Commercial Realty, Inc./ONCOR International negoti-ated the transaction on behalf of the buyer and Art Campbell of Campbell Commercial Real Estate represented the seller, Frank M. Bingman Trust.
Straub & Associates Real Estate Group, Inc. has leased office space at 3025 Market Street, Camp Hill from C.A. Hempt Estate, Inc. and will be relocating its offi ce in May.
Straub & Associates Real Estate Group, Inc. has been in business for 8 years. Timothy Straub, Broker/ Owner has been in business for 21 years. Straub & Associates recently
added 4 new sales associates to their team of professionals and is looking forward to their more centralized location. Art Campbell of Campbell Com-mercial Real Estate, Inc. rep-resented the Landlord in this transaction. ■
L
21 Waterford Drive
Art Campbell
www.marejournal.com Mid Atlantic Real Estate Journal — Pennsylvania — May 11 - 24, 2012 — 3B
PENNSYLVANIA SPOTLIGHT
PROJECTS/BUILDING SERVICES
Burris Engineers Inc. ................................................................................................4B
MJ Settelen Construction .........................................................................................4B
Haworth. ...................................................................................................................4B
CDA& I ......................................................................................................................5B
AKF Group ................................................................................................................5B
Earth Engineering Incorporated. .............................................................................7B
CREATE Architecture ...............................................................................................7B
McMahon Associates Inc. .........................................................................................7B
Manko Gold Katcher Fox LLP ..................................................................................8B
IES Engineers ...........................................................................................................8B
Metro Commercial ....................................................................................................8-9B
Bohler Engineering ...................................................................................................9B
Kaplin Stewart ..........................................................................................................9B
Hollister Construction ..............................................................................................11B
Jenkintown Building Services, Inc. ..........................................................................11B
Keast & Hood Co. ......................................................................................................11B
Spotlight Directory
CDA&I Architecture & Interiors celebrates 20 years
Founded in 1992 and dedicated to the integration of architecture and interior design, CDA&I Architecture and Interiors, Ltd. of
Philadelphia celebrates its 20th anniversary this year. See page 4-5B.
Quarry Center- 300 Million Years in the Making!
Rising from 50 feet below sea level, 32 acres in Haverford Township, Pennsylvania are being transformed into 250,000 s/f shopping center
to be known as Quarry Center. See page 7-10B.
ounded in 1992 and dedi-cated to the integration of architecture and in-
terior design, CDA&I Archi-tecture and Interiors, Ltd. of Philadelphia celebrates its 20th anniversary this year. CDA&I was established by architect Cecelia Denegre, AIA, IIDA; her husband Joseph Denegre, RA, joined as her partner in 2002.
CDA&I is a full-service, city- and state-certified WBE pro-fessional design studio located in Center City, Philadelphia. The fi rm merges the expertise of professional architects with the skills of experienced interior designers in a single studio to provide seamlessly integrated design services.
CDA&I’s work can be divided into projects for learning, living, and working, or more specifi -cally, academic, residential, and corporate/institutional interi-ors. These categories are also essential aspects of the fi rm’s design philosophy.
“Every day, we learn through our life and work experiences,” says CDA&I founder and prin-cipal Cecelia Denegre. “Our projects refl ect this belief and are informed by the depth with which we understand our cli-ents’ specifi c needs.”
From updating existing fa-cilities for institutional clients – as in the case of repurposing dining facilities at the Uni-versity of Pennsylvania into student administrative offi ces – to contributing to widespread neighborhood transformation – through pro bono design services for organizations in-cluding the Community Design Collaborative – CDA&I has a proven ability to think about long-term value, context, and community.
Environmentally responsible design has fi gured into much of
F
4B — May 11 - 24, 2012 — Pennsylvania — Mid Atlantic Real Estate Journal www.marejournal.com
COMPANY OF THE MONTH
this work. CDA&I incorporates the latest sustainable tech-nologies for exterior envelope stabilization, balanced natural and artifi cial lighting, environ-mental controls, natural venti-lation, acoustic comfort, and the use of sustainable and durable materials. Firm members hold LEED accreditation for both new construction and commer-cial interiors.
On its residential projects, CDA&I blurs the boundaries between interior and exterior spaces for improved connection to the environment.
One of the fi rm’s strengths is its intensive pre-project plan-ning phase, which encompasses everything from investigating client aspirations, inspirations, and objectives, to studying build-ing systems, site constraints, and existing conditions. The firm uses questionnaires, in-terviews, site visits, and cost estimating to fully understand a project’s specifi c parameters and opportunities. This process identifies a design direction and realistic budget before any drawings are prepared.
CDA&I’s design team thinks
Celebrating 20th Anniversary
CDA&I Architecture & Interiors of Philadelphia
Pictured left to right: CDA&I team: Ariel Ricciuti, John Gill, Cecelia Denegre, Joseph Denegre, Howard Dorf, Marta Drzymala
MJ Settelen Construction, LLC, Philadelphia‚ PA
West Philadelphia High School, Philadelphia, PA
Electrical Engineering, Design, & Consulting
180 S. Main Street, Suite 203 Ambler, PA 19002215-643-4465 Main, 215-643-4481 Fax(Monday – Friday 8:00 am – 4:30 pm)Email: [email protected]
www.burrisengineers.com
Happy 20th Anniversary to CDA&I Architecture
& Interiors!
Haworth Inc,The Curtis Center
601 Walnut St., Suite L-20Philadelphia, Pa 19106
Showroom: 215.977.8607Steve Sable: [email protected]
www.organicworkspaces.com
www.haworth.com
Congratulations on 20 years in business!
-Your friends at Haworth-
Where Principles Guide Projects Every Step of the Way
HONESTY
INTEGRITY
COMMUNICATION
COLLABORATION
STELLAR RESULTS
230 S. Broad Street I Suite 1100 I Philadelphia, PA 19102
P: 215.893.0888 I www.mjsettelen.com
You envision a finished project, we see the best steps to get you there. ■ Pre-construction ■ Project Management
■ General Construction ■ Value Engineering
■ Consulting
Congratulations to CDA&Ifor 20 years of success!
www.marejournal.com Mid Atlantic Real Estate Journal — Pennsylvania — May 11 - 24, 2012 — 5B
beyond normal boundaries to inspired solutions, capturing each client’s vision and mani-festing it into a physical reality that balances program, budget, and context.
“Cost issues are identified and balanced with design as-pirations so that expectations remain on the same page,” explains Cecelia. The approach has served the fi rm well.
The combination of informed design development and strong leadership has helped CDA&I make strides during its two-de-cade history. In 2005, the fi rm
was named to the Philadelphia Business Journal’s Philadelphia 100 as one of the fastest grow-ing privately held companies in the region. Economic conditions have slowed the growth, but steady leadership and strong re-lationships with repeat clients have helped the fi rm weather the storm.
In 2011, CDA&I was named one of the Philadelphia Busi-ness Journal’s Top 20 Interior Design Firms and one of the region’s Top 100 Women Owned Businesses.
Committed leadership begins
with Cecelia. In 20 years of managing CDA&I and its proj-ects, she has become known for her forward-thinking, holistic approach and for the warmth with which she approaches cli-ent relations. A background in fi ne art and psychology doesn’t hurt. From her faint Kentucky drawl to her fearless use of color, Cecelia elicits the best from her clients and team, con-fi dently guiding both through the challenges of design and construction projects of all sizes.
Principal Joseph Denegre leads the fi rm alongside Cece-lia. His analytical design skills, technical expertise, and project management ground every proj-ect. His strong listening skills translate into good stewardship of clients’ resources and trust.
Together, Cecelia and Joe encourage collaboration and camaraderie to keep the design process lively and engaging for staff and clients, alike.
CDA&I’s architectural de-signs capture tendencies to-ward natural materials, light, and texture. Yet the work also displays a thorough under-standing of each client’s needs, lifestyles, and individualities. Whether the project involves developing a community garden on an historic site, designing the newest, state-of-the-art high school for the School Dis-trict of Philadelphia, or crafting a residence that captures a ho-meowner’s personality, CDA&I offers a mix of professionalism and creativity.
CDA&I’s portfolio includes successful projects for the Uni-versity of Pennsylvania, Drexel University, School District of Philadelphia, City of Philadel-phia, and St. Edmonds Bank, as well as multiple private residential commissions. ■
University of Pennsylvania Platt Student Performing Arts House,
Stouffer Commons, Philadelphia, PA
Chestnut Hill Residence, Philadelphia, PA
Drexel University College of Nursing Simulation Lab, Philadelphia, PA
COMPANY OF THE MONTHCelebrating 20th Anniversary
CDA&I Architecture & Interiors of Philadelphia TO OUR CLIENTS
STAFF + PARTNERINGFIRMS FOR YOUR 20YEARS OF BUSINESS
THANK YOU
225 South 25th Street 215 . 893 . 9050 www.cdaandi.com| |
1500 Walnut Street, Suite 1400 Arlington, VA, Boston, MA, Minneapolis, MN Philadelphia, PA 19102 New York, NY, Philadelphia, PA, Princeton, NJ Phone: (215) 735-7290 Rochester, MN, Stamford, CT, Mexico City, MX
MARKETS
CONGRATULATIONS CDA&I ON YOUR 20TH ANNIVERSARY
CorporateCritical Systems CulturalEducational Government HealthcareHospitalityInternationalMedical Office Buildings Parking Garages ResidentialRetailScience & Technology
SERVICESMechanical
ElectricalPlumbing
Fire Protection Life Safety
Analysis & Testing Central Utilities
CommissioningEnergy Management
Information Technology Lighting
Sustainable Design Vibration Analysis
ïïïK================dêçìéKÅçã=
Mid Atlantic Real Estate Journal would
like to congratulate CDA & I
Architecture on your 20th Anniversary!
To feature your company or project
contact: Elaine Fanning (800) 584-1062 ext. 212
PA PROJECTS/BUILDING SERVICES
6B — May 11 - 24, 2012— Pennsylvania — Mid Atlantic Real Estate Journal www.marejournal.com
$15m expansion & renovation project breaks ground
Warfel Construction Company promotes Calabretta & Kingree
AST PETERSBURG, PA — Warfel Con-struction Company
is pleased to announce the promotions of Brett P. Calabretta, PE, LEED-AP and Guy Kingree III, LEED GA. With the f i rm s ince 2005, Calabretta has been promoted to Senior Project Manager. He joined Warfel Construction Company as a Project Engineer and was promoted to Project Manager in 2006. As Senior Project Manager, he is responsible for complete project oversight, coordination, schedule, and budget on projects ranging from $1 to $25 million dollars throughout Pennsylvania and the surrounding states. He recently completed the new CarMax Store on Man-heim Pike and is currently managing work for the Lan-dis Run Intermediate Center for the Manheim Township School District and the new
offi ces for RLPS Architects on Oregon Pike in Lancast-er. A resident of Lancaster,
Calabretta earned a B.S. in Civil Engi-neering from Penn State University and a Mas-ters of Busi-ness Admin-
istration from York College
of PA. He is a professional engineer and is certifi ed as a LEED (Leadership in Energy and Environmental Design) Accredited Professional. Promoted to Project Man-ager, Kingree served as an intern at Warfel Construction while completing his B.S. in Civil Engineering at Penn State. Upon graduation in 2009, he joined the fi rm as a Project Engineer. He is cur-rently managing the historic St. James Church renova-tion project in downtown Lancaster. A resident of Lan-caster, Kingree is certified as a LEED (Leadership in Energy and Environmental Design) Green Associate.
E
Stadium design by Ewing Cole
Alvin H. Butz, Inc. to renovate PNC Field
EAST PETERSBURG, PA — Warfel Construction Com-pany recently broke ground on a $15 million expansion and renovation of the Health Center at the Kendal Cross-lands Community in Kennett Square, PA. Encompassing over 100,000 total s/f, the project includes renovations to the skilled and personal care areas of the health cen-ter as well as a new fi tness and wellness center for use by the entire community. Updating the facility and ultimately creating a more ‘residential feel’ within the center is the main goal of the renovations. The new wellness center will feature a pool, locker rooms, exercise and therapy rooms. The 5-phased project, designed by Bernardon Haber Holloway Architects, PC of Kennett Square and SFCS, Inc. of Roanoke, VA is scheduled for completion in 24 months. Overseeing the project for Warfel is Senior Project Man-ager, Sheila Snyder, Project Manager Rusty Hoffman and Field Superintendent, John Hess. ■
HARRISBURG, PA — Gar-ry Brinton, Principal, FP+A, Inc., has been elected Sec-retary of the Facility Man-agers Consultants Council of the International Facil-
ity Management Association (IFMA). IFMA is the world’s largest and most widely rec-ognized international associa-tion for professional facility managers.
FP+A, Inc. provides stra-tegic facilities planning, pre-project planning, architecture and interior design, project management, and relocation consulting services. ■
Principal Brinton of FP+A, Inc. elected secretary of IFMA
Wilson of K&W Engineers and Consultants earns certifi cation
Simelis joins the Tarentum offi ce of R.A. Smith National as a civil engineerPITTSBURGH, PA — An-thony Simelis has joined the Tarentum (Pittsburgh) offi ce of R.A. Smith N a t i o n a l — civil en-gineering, surveying, landscape a r c h i t e c -ture, geo-g r a p h i c information systems (GIS) and 3D visual-
Anthony Simelis
MOOSIC, PA — Alvin H. Butz, Inc. has been selected as Construction Manager to reconstruct and renovate Lackawanna County’s PNC Field in Moosic.
Reconstruction activities include demolishing the ex-isting upper deck and re-building it to feature suite and club level seating. The lower section seating bowl will remain. Six concession stands, rest rooms, locker rooms and administrative ar-eas will be upgraded to ADA compliancy and state-of-the-art facilities. The renovations will include over 90,000 s/f of building space. Field reno-vations will consist of new dugouts, lighting, scoreboard, warning track and outfi eld. The renovated stadium will have a 10,000-fan capacity including tiered picnic areas, lawn seating, kids zone for families, and will feature a 360-degree walk around concourse. Design for the stadium is being done by Ew-ing Cole.
The new stadium will be the home of AAA baseball
team the Scranton/Wilkes-Barre Yankees. The team is playing its entire 2012 schedule away from home us-ing other stadiums until the reconstruction is complete. Construction services are scheduled to begin this week. The project needs to follow an extremely aggressive sched-ule in order to be completed by March 2013 to allow the Scranton/Wilkes-Barre Yan-kees to resume their Inter-national League schedule locally in April 2013.
“We are really excited to begin work on this project,” said Greg Butz, President and CEO of Alvin H. Butz, Inc. “We have an extremely talented project team in place and they are fully dedicated to completing the stadium with the highest quality while maintaining the sched-ule.”
In March 2008, Alvin H. Butz, Inc. completed the mi-nor league baseball stadium, Coca-Cola Park in Allentown, PA, home of the Lehigh Valley IronPigs, the AAA affi liate of the Philadelphia Phillies. ■
Renderings of PNC Left Field Plaza & Entrance
Brett P. Calabretta
Guy Kingree III
ization consultants — as a civil engineer. His responsibilities include storm water manage-ment planning and design, erosion and sediment control planning and design, and general permitting support for various land development projects. Simelis has a bachelor ’s degree in civil engineering technology from Point Park University, Pittsburgh, Pa. Simelis is a member of the
American Society of Civil En-gineers (ASCE). Simelis also holds an associate’s degree in chemical laboratory technician and has a strong background and understanding of material science. Prior to joining R.A. Smith National, he was em-ployed as a quality control ana-lyst and chemical laboratory technician at Neville Chemical Company in Pittsburgh. Simelis lives in Pittsburgh, Pennsylvania. ■
HARRISBURG, PA — Thom-as P. Wilson, PE, CFM, Prin-cipal at K&W Engineers and Consultants, passed the As-sociation of State Floodplain Managers (ASFPM) exam to become a Certifi ed Flood-plain Manager. This national certification demonstrates Thomas’ commitment to al-
leviating the cycle of damage in fl oodplain environments as well as his overall awareness of comprehensive floodplain management procedures, in-cluding FEMA regulatory standards and procedures; fl ood insurance; and hazard mitigation. K&W Engineers and Consul-
tants specializes in providing civil engineering and consult-ing services that include land development / site design, traf-fi c / transportation, municipal engineering, comprehensive watershed management, water / wastewater design, environ-mental permitting, landscape architecture and survey. ■
QUARRY CENTER PROJECT OF THE MONTH
www.marejournal.com Mid Atlantic Real Estate Journal — Pennsylvania — May 11 - 24, 2012 — 7B
GEOTECHNICAL ENGINEER
TRANSPORTATION ENGINEERING CONSULTANT
ARCHITECTURE
Geotechnical Engineers & Geologists
EARTH
Corporate Headquarters: 610.277.0880
www.earthengineering.com
Environmental Site Assessments and Remediation
Construction Inspection & Testing
Subsurface Investigations
Stormwater Infiltration Testing
Retaining Wall Design
Laboratory Soils Testing
Clean Fill Testing
South Jersey: 856.768.1001 Central PA: 717.697.5701
Lehigh Valley: 610.967.4540
ENGINEERINGINCORPORATED
Carbonate Site Assessments
CONGRATULATIONS
www.mcmtrans.com
Corporate Headquarters: Fort Washington, PA215.283.9444
Exton, PA610.594.9995
Camp Hill, PA717.975.0295
Yardville, NJ609.585.5745
Bowie, MD301.464.3955
A full service transportation engineering firm specializing in:
Site Assessment/Due Diligence for Traffic ImpactsTraffic Data CollectionTraffic Impact Studies & Site Circulation ConsultationParking Supply/Demand StudiesExpert Witness Testimony and Public PresentationTraffic Signal Design & PermittingAccess/Roadway/Intersection Design & PermittingBridge/Culvert Design & PermittingConstruction Observation & Management
Pittsburgh,PA412.928.2056
Congratulations to the entire project team for the “Quarry Center” development!
McMahon was proud to serve as the transportation engineer in this endeavor.
Mid Atlantic Real Estate Journal
would like to congratulate Eureka! Ventures, CREATE
and the Project Team on the Quarry Center
If you would like to feature yourcompany, development or project
call Elaine Fanning:(800) 584-1062/781-871-5298 Ext. 212or email: [email protected]
8B— May 11 - 24, 2012 — Pennsylvania — Mid Atlantic Real Estate Journal www.marejournal.com www.marejournal.com Mid Atlantic Real Estate Journal — Pennsylvania — May 11- 24, 2012 — 9B
ENVIRONMENTAL ATTORNEYS
ENVIRONMENTAL CONSULTANT LAND USAGE / ZONING & LEASING ATTORNEY
Kaplin StewartA t t o r n e y s a t L a w
Real estate law from the ground up.
Experience Counts. Count on us.
Land use & zoning, real estate transactions and construction.
Contact: GEORGE W. BROSEMAN (Land Use & Zoning) JEFFREY L. SILBERMAN (Real Estate Transactions)
910 Harvest Drive, Blue Bell, PA 19422-0765610-260-6000 • www.kaplaw.com
Other Offices: • Cherry Hill, NJ 856-675-1550 • Philadelphia, PA 215-567-3120
QUARRY CENTER PROJECT OF THE MONTH
LEASING AGENT
32 acres in Haverford Township, Pennsylvania are being transformed into 250,000 s/f shopping center
Quarry Center300 Million Years in the Making!
PROJECT TEAMProperty Owner ........................................... Quarry Center, LPDeveloper ........................................................Eureka! Ventures Architect ................................................CREATE ArchitectureCivil Engineer ............................................ Bohler EngineeringGeotechnical Engineer .........................Earth Engineering, IncMEP & Structural Engineer ............................. Thorson BakerEnvironmental Consultant ....IES Environmental EngineeringTransportation Consultant .....................McMahon AssociatesLand Usage/Zoning/Leasing Attorney .......... Kaplin StewartEnvironmental Attorney ............. Manko Gold Katcher & FoxSurveyor ...............................................................Control Point Leasing Agent ............................................ Metro Commercial General Contractor .......................................IMC Construction
ising from 50 feet below sea level, 32 acres in Haverford Township,
Pennsylvania are being trans-formed into 250,000 s/f shopping center to be known as Quarry Center. Located in one of the region’s most densely developed areas, the site has long been coveted for development. Nu-merous developers and retailers have tried to take on the geologi-cally challenged, in-fi ll site, but it wasn’t until Eureka! Ventures, an Indianapolis based Development Company, partnered with the Crockett family that the endeavor became reality.
As a result of hurricane Agnes, in 1972, the granite quarry was fl ooded and no longer viable as a working quarry. David Crockett Sr., saw this eyesore as an op-portunity and decided to acquire the property, which was ideally located on Township Line Road (Rt 1) and West Chester Pike (Rt 3). The massive hole fi rst had to be drained, then could be pro-ductive again as a clean landfi ll. For almost 30 years the quarry was fi lled with approximately 7.3 million cubic yards of soil, brick, concrete and old asphalt. Many signifi cant Delaware Val-ley demolition projects are in the quarry, such as the Blue Route and the old convention center.
In 2010, as the site completed its lifespan as a clean landfi ll, Da-vid Crockett Jr. knew there was plenty of opportunity to develop the site above ground. With the top consultants in the area, the
team solved the traffi c, layout, environmental, legal, engineer-ing, geotechnical and construction issues that come with a historic property in a dense in-fi ll area.
Designed by CREATE Archi-tecture Planning & Design of New York being built by IMC Construction of Malvern, PA the site is rich in history. With stone dating back 300 million years, the Llanerch Quarry, supplied churches and municipal building as well as many a home along Philadelphia’s Main Line. “The Quarry had a unique stone which is seen throughout Havertown in its public and private buildings. One of the key design components was to pay homage and be cogni-zant of the site’s history and so the stone with accenting light mortar are used in abundance throughout the development,” notes Frankie
R
Campione, Principal at CREATE. Retailers that include a 150,000 sf Lowe’s Home Improvements (the fi rst in Delaware County) and an 82,000 sf Giant Supermarket were designed to be architectur-ally harmonious and complimen-tary to the area. The Developer’s design team was tasked with ensuring the tenant’s interiors and operations would not suffer due to design alterations made to prototype facades. The result maintains each tenant’s familiar identity integral to each stores’ success yet creates a unique and what Eureka! terms a handsome design. “We truly want this center to be special,” notes Eric Mallory, Principal of Eureka!
In this challenging economic environment, retailers are seek-ing only the best locations. “We are fortunate to have a great site
that has seen many lifecycles,” notes David F. Crockett Jr. We were able to return the property to a productive use. This site will once again be a place of employ-ment and commerce and add to the tax base of the area. We were able to obtain a cross-ac-cess easement with an adjoining property owner that will allow us to connect Route 1 to Route 3, which is a needed regional traffi c improvement.
On schedule and moving at a rapid pace, Quarry Center will create 300 – 400 permanent jobs in the area and between $ 600,000 – $ 700,000 of local taxes each year. The project will display distinct and harmonious archi-tecture and provide a gathering place for the community. The history of the site is fascinating and future is rock solid! ■
CIVIL ENGINEER
Philadelphia, PA | Chalfont, PA | Center Valley, PAWA R R E N N J (H Q ) | A L B A N Y N Y | B O W I E M D | F O R T L A U D E R D A L E F L | R O N K O N K O M A N Y
Bohler Engineering congratulates Quarry Center, LP for its successful
Quarry Center Shopping Center Development Project
Proposed Elevations Architect’s Rendering Courtesy of CREATE
ÿ
Our legalÿandÿtechnicalÿteamÿcanÿhelpÿnavigateÿtheÿcomplexÿlegalÿandÿregulatoryÿchallenges andÿbringÿallÿtheÿpiecesÿtogetherÿforyourÿdevelopmentÿprojects.
www.mgkflaw.com
EnvironmentalÿRisks
Disclosures
Compliance
DueÿDiligence
Permitting
WE CANÿPUTTHEÿPIECESÿTOGETHER
• IES congratulates all companies involved in the Quarry Center Project and is proud to have been a part of this team.
• IES is a professional services company committed todelivering environmental, health & safety, engineering, and
construction projects.
• IES environmental professionals have performedEnvironmental Site Assessments, Remediation,
Pennsylvania Act 2 Assistance, and Permitting for a variety of clients and properties. If the property is being
considered for acquisition, expansion, redevelopment, or change of land use, IES can assist you in understanding the liabilities of potential or existing environmental contamination.
• IES’ Environmental Site Remediation Services include:• Phase I/II Environmental Site Assessments• Pennsylvania Act 2 Regulatory Assistance
• Site remediation• Tank management
• Permitting
• IES’ project managers, engineers, and professional geologists stand ready to assist you on environmental
site remediation projects.
•IES focuses on the success of its customers and employees by providing the highest value innovative solutions to our clients through exceptional knowledge and experience.
Corporate Headquarters:1720 Walton Road • Blue Bell, PA 19422
Phone: 610‐828‐3078 • Fax: 610‐828‐[email protected]
www.iesengineers.com
PA PROJECTS/BUILDING SERVICES
10B — May 11 - 24, 2012 — Pennsylvania — Mid Atlantic Real Estate Journal www.marejournal.com
ANNUAL GALA
CHAMPAGNE BREAKFASTTHE DOWN TOWN CLUB6th & Chestnut StreetPhiladelphia, PA 19106
FRIDAY, JUNE 15, 2012 7:30am – 9:00am
CHAD GOES TO COLLEGE
Honoring distinguished leaders who prepare Charter High School for Architecture + Design students to design the future
Sponsor or register to attend online at http://chadgala.eventbrite.com
MBLER, PA — Precis Engineering, Inc. has hired Sam Colucci,
PE, LEED AP BD+C, as the fi rm’s newest prin-cipal. An ex-pert in phar-maceutical engineering and energy and sustain-ability design, Colucci brings over 20 years of engineering management and team lead-ership to his new role. “Sam’s leadership of both people and projects is char-
acterized by an ability to find customized solutions for every client and facility,” said Precis Principal Robert Dick, PE. Colucci’s extensive back-ground includes mechanical systems design and operation for research and develop-ment biological and chemical laboratories; oral solid dos-age manufacturing, potent compound manufacturing, and active pharmaceutical ingredient processing; asep-tic and biotech facilities; and central plant utility design. He previously led an energy services group, for
A
Pharmaceutical Energy Expert
Precis Engineering names Sam Colucci principal
which energy conservation projects offered clients an average payback of under four years, reduced carbon emissions, and saved over $10 million/year. Colucci has been responsible for fi -nancial, legal, technical, and quality oversight for teams of mechanical engineers and designers on complex critical facility projects. Colucci holds a B.S. in Me-chanical Engineering from the University of Pittsburgh, professional engineering reg-istration in Pa., and LEED Building Design and Con-struction accreditation. ■
PHILADELPHIA, PA — Blackney Hayes Architects announced the launch of a new engineering d iv is ion to provide me-chanical /elec-trical/plumb-ing consulting services out of the firm’s Independence Park offices. The new division, BHH Engi-neers, will be led by seasoned professional Mark Hershman, PE, whose fi rm M. P. Hershman
PE, Inc. has collaborated with Blackney Hayes since 1992.
“Mark is a brilliant engineer who designed some of our most signifi cant projects,” said John Fox Hayes, principal of Black-ney Hayes. “With his expertise in-house, our team will be a leader in fully integrated ser-vice, optimal BIM capability, and able to provide faster and more effi cient project delivery.”
BHH Engineers will provide services directly to building clients as well as to Blackney Hayes, retaining the clients served by Hershman’s previ-
ous firm, which include the University of Pennsylvania, the Philadelphia Housing Authority, and the City of Trenton to name a few.
Hershman built a strong body of new construction, renovation and preservation work for com-mercial, industrial, institutional and multi-family residential clients. He has extensive expe-rience in publicly funded proj-ects with cost constraints and sustainability requirements, and has earned awards and recognition from the design and construction community. ■
Blackney Hayes Architects launches new division
www.marejournal.com Mid Atlantic Real Estate Journal — Pennsylvania — May 11 - 24, 2012 — 11B
PROJECT NEWS
MAKING PHILADELPHIA SHINE
TTHHEE CCLLEEAARR CCHHOOIICCEE
J E N K I N T O W NBUILDING SERVICES, INC.
How can we help your building look its best?
Celebrating over 75 years of Quality & Integrity
215-887-6777800-296-6777 Fax: 215-887-3660
827 GLENSIDE AVE, WYNCOTE, PA 19095
e-mail: [email protected] MARTY TUZMAN
• Window Cleaning & Glass Restoration • Construction/High Access Cleaning • Pressure Washing/Exterior Building Cleaning
• Graffiti Removal • Glass Restoration • Venetian Blind Cleaning • Metal Care• Awning/Canopy & Gutter Cleaning • Bird & Spider Control
• Building Safety & ANSI I-14 Consulting & Support
Sam Colucci
Mark Hershman
PHILADELPHIA, PA — Bruce E. Brooks & Associates Consulting Engineers (BBA), announced the formation of Brooks + Wright Com-missioning, a NEBB-cer-ti f ied f irm d e d i c a t e d to verifying that building systems function effectively.
Brooks + Wright Commissioning to be led by expert WrightHeaded by Bruce E. Brooks, PE, LEED AP, and William A. Wright, LEED AP, ASHRAE CPMP, NEBB BSCP, the new fi rm will offer technical build-ing commissioning for new construction and renovations, retro-commissioning for ex-isting buildings and LEED-fundamental and enhanced commissioning.
“Building owners can realize signifi cant energy savings and lower operating costs through
commissioning,” said the fi rm’s president, Will Wright. “Our job is to optimize performance and energy-effi ciency of a facil-ity, new or old.”
With more than 14 years of direct industry experience in building commissioning and retro-commissioning, Wright is well-qualifi ed to lead a team of skilled professionals. “Our focus is on systems accessibil-ity, testability and maintain-ability,” said Wright. ■
William Wright
WE MAKECONSTRUCTION MANAGEMENT
LOOK LIKE CHILD’S PLAY!
777 Terrace Avenue Hasbrouck Heights NJ 07604 | Phone: 201.393.7500863 Route 109 West babylon 11704 NY | Phone: 212.531.8750
www.hollistercs.com
12B — May 11 - 24, 2012 — Pennsylvania — Mid Atlantic Real Estate Journal www.marejournal.com
CREW Lehigh Valley thanks its 2012 corporate sponsors:Gold - $2,000: Fitzpatrick, Lentz, & Bubba, P.C., Liberty Property Trust, US Lawns
Patron - $1,000: ,Boyle Construction, NAI Summit, NorthStar-Polaris, Pennoni Associates Inc.Contributor - $750: Langan Engineering, MKSD Architects, Spillman Farmer Architects
Friend - $300: CBRE, Barry Isett & Associates, Berks Economic Partnership, Dietrick Group, HMK Insurance, JG Petrucci, Inc
ETHLEHEM, PA- Rob-ert DeSalvio, president of the Sands Casino
Resort, hosted an exclusive pre-opening tour of the Sands Event Center for CREW Le-high Valley on April 25th. The members-and-guests only event began with a recep-tion in the Bucks Room of the Sands Casino Hotel. De-Salvio also gave an overview of construction and leasing of the two-level Shoppes at the Sands which opened in November and “broke the
Lehigh Valley Chapterwww.crewlehighvalley.org
Commercial Real Estate Women
Exclusive pre-opening held on April 25th
CREW LV fi rst to tour the Sands Casino Event CenterB
2012 LEHIGH VALLEY BOARD OF DIRECTORS
PRESIDENTTINA KISELA SCSM, SCMD
PAST PRESIDENTTRACY YADUSH, RPA
NAI SUMMIT
PRESIDENT ELECTMAUREEN O’MEARA
HAMPSON MOWRER KREITZ INSURANCE (HMK)
SECRETARYCATHERINE (KATE) DURSO
FITZPATRICK LENTZ & BUBBA, P.C.
TREASURERCYNTHIA MERRITT, CPA
BUCKNO LISICKY& COMPANY
CORRESPONDING SECRETARY
PAM MORRISLIBERTY PROPERTY TRUST
DIRECTORS-AT-LARGECHRISTA DUELBERG-
KRAFTICIAN, AIASPILLMAN FARMER ARCHITECTS
JESSICA GENTILENORTH STAR CONSTRUCTION
MANAGEMENT, INC. POLARIS PROPERTIES, INC.
2012 COMMITTEE CHAIRS
SPONSORSHIP COMMITTEEFRANCEE FULLER
BARRY ISETT & ASSOCIATES
PROGRAMS COMMITTEEPAM MORRIS
LIBERTY PROPERTY TRUST
MEMBERSHIP COMMITTEEKAREN COONEY DUERHOLZBOYLE CONSTRUCTION INC.
COMMUNITY SERVICEJODY KING, CCIM
CBRE, INC
PUBLICITY COMMITTEEELIZABETH “MOLLY’
GRAVER, ESQ.PLUNKETT & GRAVER, P.C.
FITZPATRICK LENTZ & BUBBA, P.C.IS PROUD TO SUPPORT
fitzpatrick Lentz & Bubbaattorneys at law
Celebrating more than 20 yearsas the Valley’s law firm of choice.
CREWLehigh Valley
4001 Schoolhouse Lane • Stabler Corporate Center • Center Valley, PA610-797-9000 • info@flblaw • www.FLBLaw.com
BEST PLACESPAto work in
Corporate, Business& Banking
Real Estate, Land Use& Development
Litigation
Estate Planning& Administrationof Estates and Trusts
Health Care
Employment Law
Bankruptcy
Elder Law
Family Law
BARRY ISETT & ASSOCIATES, INC.
Consulting Engineers & Surveyorswww.barryisett.com
Helping Clients Reach Real EstateDevelopment Goals Since 1977
Environmental Assessments • Condition Assessments
Surveys • Site Design • Permitting • Traffic StudiesHighway Design • Landscape Design • Structural Design
Mechanical, Electrical, Plumbing Design
Full - Service EngineersPA • NJ • MD
Contact Francee Fuller, Marketing Manager [email protected] 610-398-0904
Robert DeSalvio, President of the Sands Casino Resort
Pictured Left: The group gathered around a large
scale model of the proposed project
build-out of the 1,800 acre brownfi eld site, that had operated as Bethlehem Steel through the 20th
Century and into the 21st.About 45 members of CREW LV & their guests enjoyed the reception
Pictured Left: Maureen O’Meara
(left), CREW LV President Elect, Robert
DeSalvio, Presidentof the Sands Casino
Resort and Tina Kisela, CREW LV President
mold” for outlet centers with a location away from an in-terstate that has proven to be “wildly successful” for Coach Factory and others. Shoppers now enjoy Dress Barn, Under Armour, Corningware Corelle and More, Chico’s, Hartstrings and Peeps with Van Heusen, Bass, Izod, Tommy Hilfiger, and Art of Bread by Georges Perrier opening soon. DeSalvio noted that over seven million visitors had come to the Sands during the past year. Accord-ing to news reports the com-
plex had its best-ever quarter the fi rst three months of this year The 50,000 s/f Sands Event Center was designed as a venue for entertainment, trade shows, conferences, and private functions. All seats, in-cluding those in seven private luxury suites, are within 137 feet of the stage. The entertain-ment schedule kicks off on May 16 with the rock band Incubus, closely followed by the Beach Boys on May 17. Scores of A-list performers, including Jay Leno, Loretta Lynn, Meatloaf
and Celtic Thunder, are booked throughout the year. A further enhancement to the center is the Vision Bar that features modern architecture, hun-dreds of LED lights, natural textures, opulent fi nishes, and interactive programming to create an atmosphere like none other in the Lehigh Valley. The April event was the second time DeSalvio conducted a tour for CREW; the fi rst was in August 2009, three months after the Ca-sino, the fi rst phase of the Sands Resort complex opened. ■
www.marejournal.com Mid Atlantic Real Estate Journal — Pennsylvania — May 11 - 24, 2012 — 13B
PENNSYLVANIA
Learn more about Marcellus shale
Join Ellen Raineri’s Monthly email list: http://goo.gl/OL6UF
Visit Northeast Pennsylvania’s only sitededicated to Marcellus shale real estate:
www.PAMarcellusProperty.com
Marcellus Shale Region News
For Sale:Lawton. 28.11 acres. No zoning. Hilly. Creek. Has driveway
permit. Perked. Seller retains gas & mineral rights. Additional land & structures available. Convenient to Montrose & Wyalusing .Easy access from Routes 367, 267, or 706.
For Sale:New Milford.Investment property consisting of multiple streams
of income on 4 acres. Consists of 12 storage units, 4 commercial spaces, and 4 apart-ments. Rail runs next to property. Addi-tional investment opportunities.
For Sale: Hallstead. 4.37 acres. Land has frontage on Route 11. Creek on part
of property. Has sewer and water. Close to New Milford and Great Bend exits off of I-81. Additional 12.26 acres available. Seller retains oil and gas rights.
For Sale or Lease:Great Bend.4,090 sf building on .96 acre. Rail runs behind
property. Consists of office & manufacturing space. Rail runs behind building. Quick access to I-81- the Great Bend exit.
For Lease:West Wyoming.3 acres of fenced land. Rail runs next to property.
Adjacent 9,800 sf warehouse and 9,000 sf pole barn available. Approximately 25 miles from Tunkhannock.
For Sale: Hallstead. 12.26 acres. Land extends to I-81. Excellent highway
visibility. Has sewer and water. Close to New Milford and Great Bend exits off of I-81. Additional 4.37 acres available. Seller retains oil and gas rights.
For Sale:Towanda. Investment property with multiple streams of income on 25 acres. Consists
of 2 commercial tenants in office buildings, warehouse, and land. Frontage on highly visible Route 187.
For Sale:Wysox.Investment property consisting of multiple streams of income on
5.17 acres. Consists of retail & 2 warehouse tenants. Corner lot. Fronts highly visible Route 6.
For Sale: Susquehanna.8,000 square feet warehouse, office on 15.03 acres. Includes quarry. 4 drive in doors. 3
phase electric. Frontage on Route 492.
570-207-4100Ellen Raineriwww.HinerfeldCommercial.com
[email protected] Commercial Real Estate
Opportunities for sale: Susquehanna
200 acres54,000+Sq. Ft. of industrial space Mineral appraisal shows reserves of 64,444,444 tons on 100 acres. Dimensional blue stone quarry – approximately 800’ thickAggregate alone - 500,000 ton already extractedDimensional blue stone quarry – approximately 800’ thickGas lease for proposed gas head and 3 gas wells (to be sold with real estate)Equipment (can be sold with quarry)
For Lease:Lawton. 2 bay garage consisting of 1,500 square feet. 2 Drive in doors. No
zoning. Additional nearby acreage available for lease and lodging for sale. Easy access to Routes 267, 367, and 706.
14B — May 11 - 24, 2012 — Pennsylvania — Mid Atlantic Real Estate Journal www.marejournal.com
PENNSYLVANIA
ORK, PA — Coldwell Banker Commercial Bennett Williams has
arranged the sale/lease of the following lease transactions:
2,500 s/f of retail space at Wheatland Shopping Center at 1767 Columbia Ave. in Lancast-er. Zimhan dba The Framery Inc. leased the space for 1 year from Homewood Realty Company. Chad Stine, Brad Rohrbaugh, and Gary Russell of Bennett Williams represented both the landlord and the tenant in the transaction.
1,600 s/f of retail space at Wheatland Shopping Center at 1763 Rear Columbia Ave. in Lancaster. Julio Perez leased the space for 2 years from Home-wood Realty Company. Chad
Stine, Rohrbaugh, & Russell represent both parties
CBC Bennett Williams brokers 2,500 s/f lease
Stine, Brad Rohrbaugh, and Gary Russell of Bennett Wil-liams represented both the landlord and the tenant in the transaction.
620 s/f of retail space at Smith Village Shoppes on N. Main
Street in Jacobus. York County Library System leased the space for 1 year from Dadds Corp. Chad Stine & Brad Rohrbaugh of Bennett Williams represented both the landlord and the tenant in the transaction. ■
Y
1767 Columbia Avenue
51-Acre Industrial Park For Lease or Build-to-Suit
CONSTRUCTION UNDERWAY!
CBRE Inc. | 1275 Glenlivet Drive, Suite 120 | Allentown, PA 18106 | T.610.398.6900 | F.610.398.7815
www.cbre.com/allentown | Licensed Real Estate Broker
HANOVER TOWNSHIP, PA — Ryan C. Dietrick of Di-etrick Group represented the landlord in leasing 3,767 s/f of offi ce space at 3864 Adler Place, Hanover Township. The tenant is Leading Edge Signs and Imaging. Adler Place has 1,873 s/f remaining for lease.
Kelly L. Berfi eld and Ryan C. Dietrick, both of Dietrick
Group, represented Wind Gap Professional Center Partners in the sale of 6689-6699 Sul-livan Trail, Plainfi eld Town-ship. The buyer, Wind Gap Professional Building, LLC, was represented by Shawn Donahue of Veraxia CRES. The +/- 10,094 s/f building will continue to be used as medical and professional of-
fice space.Kelly L. Berfield and Ryan C. Dietrick, both of Dietrick Group, represented Wind Gap Professional Center Partners. The buyer, Wind Gap Professional Building, LLC, was represented by Shawn Donahue of Veraxia CRES. The +/- 10,094 s/f building will con-tinue to be used as medical and professional offi ce space. ■
Ryan C. Dietrick of the Dietrick Group reps the landlord in offi ce space lease
RETAILER REPRESENTATIONOWNER REPRESENTATION
INVESTMENT SALESMANAGEMENT SERVICES
Please visit us during the Las Vegas ICSC ReCon Convention. We will be located at the ChainLinks booth in the South Hall, Second
Floor, Q Street – S266/S276
To Schedule an Appointment, Please Call UsPlymouth Meeting, PA: 610.834.8000
Philadelphia, PA: 215.557.0050Woodbridge, NJ: 732.526.9100
www.famecoretail.com
MEET US AT THE LAS VEGAS ICSC RECON CONVENTION
MAY 20-22, 2012
Breaking New Ground
63 Kreider LaneManheim, PA 17545(717) 898-7651
www.brkreider.com
The professional team of
B.R. Kreider & Son will
work for you during your
next building or
expansion project:
Excavation
Paving
Site Management
Site Utilities
Earn a LEED Innovation
Credit by using
B.R. Kreider & Son, Inc.
Over 70 years of experience
in commercial and
industrial site
management will put
your new project on a
solid foundation.
Before you break
new ground, visit
www.brkreider.com
Breaking New Ground
“sculpting a GREEN tomorrow”
PreconstructionConstruction Management
General Contractors
1124 Chester Pike • Crum Lynne, PA 19022610.521.3300 • www.targetbuilding.com
Building relationships through the
power of people.
Allentown, PA West Deptford, NJ
Exeter, PA Chester, PA
www.marejournal.com Mid Atlantic Real Estate Journal — Pennsylvania — May 11 - 24, 2012 — 15B
PENNSYLVANIA
RRT 61 DISTRIBUTION CENTER
1184 TUCKERTON ROAD, READING, PA
CCONTACT : STEVE WILLEMS
EEXCLUSIVE AGENT
OOffice 610--7779--11400 Direct 610--3370--88506
33000 Amp 3--PPhase 480 V
335,000 lb Dock Levelers
1100 % Sprinkler/ T5 Lighting
RRail Available
33+ Acre Fenced, Lit and
PPaved Truck Lot
SStrategically located: Rte 61 & Rte 222 Interchange
EExcellent Access to I--776, I--1176 & I--778
IIn the Heart of desirable Muhlenberg Twp. Industrial Area
-- BBest Location in Berks County
PPublic Transportation to Site
330 Minutes to Lehigh Valley
Owned and Professionally Managed by:
1115,000 SF -- 332’ Clear Ceiling Height -- 118 Docks
DDistribution or Manufacturing
MMeeting Tenant’s Needs Immediately, Efficiently and Economically
AAlso Available : 36,000 SF -- 111 Docks
221’ Clear Ceiling Height
PEOPLE ON THE MOVE
16B — May 11 - 24, 2012 — Pennsylvania — Mid Atlantic Real Estate Journal www.marejournal.com
Organizational name change & re-branding
GREP appoints new members Schippers, Duff & Fritz
EADING, PA —Great-er Reading Eco-nomic Partnership
(GREP) is pleased to a n n o u n c e newly ap -p o i n t e d board mem-bers to the b o a r d o f d i rec tors . The GREP Board of Directors provide the organization with guidance on mission driven strategies and activities to retain, attract,
promote and grow economic development in a collabora-tive and unifi ed manner in
the Greater Reading re-gion.
New Board Members:
- E r i c Schippers, v ice presi -dent of pub-lic affairs &
government relations, Penn National Gaming.
- Michael Duff, senior vice president, general counsel,
R
March for Babies Walk at Dorney Park
NAI Summit participates in March of Dimes
Penske Truck Leasing. - Keith Fritz, general man-
ager, Reading Eagle Press.In other news — Greater
Reading Economic Partner-ship (GREP) is pleased to announce an organizational name change from Berks Economic Partnership to Greater Reading Economic Partnership.
The organizational name change and re-branding pro-cess was facilitated and de-veloped through The Ander-son Group (TAG) of Sinking Spring. ■
CAMPHILL, PA — Ida McMurray, CCIM, of NAI CIR in Camp Hill, PA, re-cently com-pleted the r e q u i r e -m e n t s t o become an SIOR des-ignee. The Society of Industrial and Office Realtors is the leading pro-
fessional commercial and industrial real estate asso-ciation with more than 3,000 members in more than 630 cities in 29 countries. SIOR is dedicated to the practice and maintenance of the high-est professional and ethical standards and maintains a commitment to business and industry by providing outstanding professional services, publications, and educational programs. ■
Ida McMurray
LEMOYNE, PA — Landmark Commercial Realty, Inc. has been recognized as a CoStar Power Broker Award winner for Top Sales Firms and Top Leasing Firms in the Philadel-phia market. Landmark’s win-
ning performance is based on overall Top Sales and Leasing Firms transaction volume for 2011 as reported to CoStar and measured against all commercial real estate brokerage fi rms active within the region. As the largest
research organization serving commercial real estate, CoStar is pleased to independently confi rm and recognize the most active fi rms in the United States each year with these prestigious industry awards. ■
Landmark Comm’l. receives CoStar Power Broker Award
PHILADELPHIA, PA – April 23, 2012 – National Real Estate Investor, the leading magazine for profes-sional real estate investors, has ranked CBRE Group, Inc. (NYSE:CBG) the No. 1 U.S.-based commercial real estate brokerage firm for the ninth year in a row.
The ranking, featured in the publication’s April 2012 issue, is based on the ag-gregate value of sales and leasing transactions com-pleted globally during 2011.
CBRE was responsible for $159 billion of global sales and leasing transactions in 2011.
“Our clients rely on CBRE for market insight, precise execution and strategic solu-tions. We are able to deliver exceptional results because of the strength of our people and platform. This is the competitive advantage that has kept us in the number one position in the industry,” said Brett White, chief ex-ecutive offi cer of CBRE. ■
CBRE ranked No.1 Brokerage Firm by National Real Estate Investor
Eric Schippers Michael Duff
Philadelphia, PA - Skan-ska USA, announced that its building business unit has named Mark Zamrowski senior project manager for its Philadel-phia region.
Zamrows-k i b r i n g s more than 18 years of construction experience to Skanska, during which he fo-cused primarily on large-scale fi t out and renovation projects within the Philadelphia region for various sectors, including
higher education, corporate/commercial, healthcare and pharmaceutical.
In his new role at Skanska, Zamrowski will serve as the day-to-day on-site contact for select Pennsylvania-based projects during all phases of construction. In addition, he will manage project teams to ensure each project is com-pleted on time and on budget. He will also work closely with Skanska’s Special Projects Group, focusing primarily on general contracting, tenant improvements, corporate and commercial interiors work and renovation projects.
Prior to joining Skanska, Zamrowski most recently served as a project manager for Florkowski Builders, Inc. While there, Zamrowski over-saw six separate renovation projects for the University of Pennsylvania, four projects for Thomas Jefferson University and 50 projects over the past 10 years for Temple University Health System.
Zamrowski received his master’s degree in civil engi-neering (structural emphasis) from Widener University and his bachelor’s degree in civil engineering from Pennsylvania State University. ■
Mark Zamrowski
Skanska USA hires Zamrowski as senior project manager
Principal Bilyak of Colliers Int’l. awarded the Specialist in Industrial & Offi ce RE designationPITTSBURGH, PA — John Bilyak, principal at Colliers International - Pittsburgh, h a s b e e n a w a r d e d t h e S p e -c ia l i s t in Industrial and Office Real Estate designation (SIOR) by the Society of Industrial and Offi ce Real-tors. John is responsible for industrial tenant and owner representation at Colliers International - Pittsburgh. “There are very few brokers in Western Pennsylvania with both the SIOR and CCIM designations,” said Gregg Broujos, Managing
Director and Founding Prin-cipal of Colliers International - Pittsburgh. “John’s com-mitment to obtain the SIOR designation in addition to the CCIM honor is another exam-ple of Colliers International - Pittsburgh’s dedication to accelerating the success of all our clients.” John has been involved in the commercial real estate business for more than 18 years, with a focus on developing client relations, executing industrial broker-age assignments, real estate related consulting and mar-ket valuations. Since joining Colliers International he has enjoyed continuous success and has consistently achieved recognition as a CoStar Power Broker award winner for Top
Industrial Leasing Broker and received recognition from the Society of Industrial and Offi ce Realtors (SIOR) for the 2010 SIOR Industrial Sale of the Year. He is also designat-ed as a Certifi ed Commercial Investment Member (CCIM). John serves on the National Association of Industrial and Office Properties (NAIOP) Transportation Committee and has been actively in-volved in the community of Edgewood Borough where he has served as a member of the Edgewood Borough Planning Commission (1998 – 2000) and the Edgewood Borough Council (2000 – 2005). He is presently a mem-ber of the Edgewood Borough Recreation Board. ■
John Bilyak
ALLENTOWN, PA — NAI Summit recently participated in March of Dimes’ March for Babies Walk on Sunday, April 22 at Dorney Park in Allentown.
NAI Summit’s team con-sisted of 28 walkers. The team raised money before the walk, and employees also held a “Jeans Day for a Cause” fundraiser. The total raised to date is $1,500.
The team also won sec-
ond place in the t-shirt contest.
March of Dimes is a non-profi t organization which raises awareness and money for several causes, including birth defects, premature births, infant mortality, and other infant health problems. There are over 50 chapters through-out the United States and each chapter has several divisions. ■
McMurray of NAI CIR in Camp Hill acquires SIOR designee
March of Dimes team
www.marejournal.com Mid Atlantic Real Estate Journal — Pennsylvania — May 11 - 24, 2012 — Inside Back Cover B
559 Main Street, Suite 300 Bethlehem, PA 18018
Phone: 610•332•1100 Fax: 610•332•1111 www.penncapproperties.com
57 S. Commerce WayBethlehem, PA 18017
4,800 SF•6,830 SF
1525 Valley Center ParkwayBethlehem, PA 18017
2,635 SF•2,806 SF
2041 Avenue CBethlehem, PA 18017
4,800 SF
1650 Valley Center ParkwayBethlehem, PA 18017
1,295 SF — 24,915 SF
3701 Corp. ParkwayCenter Valley, PA 18035
6,738 SF•4,996 SF
974 Marcon Blvd.Allentown, PA 18109
13,700 SF•2,280 SF •9,120 SF
2201 Hangar PlaceAllentown, PA 18109
6,410 SF
7277 William Ave.Allentown, PA 18106
12,000 SF •4,800 SF
1605 Valley Center ParkwayBethlehem, PA 18017
3,760 SF•3,263 SF •18,114 SF
83 S. Commerce WayBethlehem, PA 18017
1,736 SF — 10,800 SF
754 Roble RoadAllentown, PA 18109
4,800 SF•9,600 SF
FEATURED PROPERTY1495 Valley Center Parkway
Bethlehem, PA 180171,510 SF — 9,683 SF
Exceptional commercial real estate solutions and services for businesses who demand
more from their space.
B Back Cover — May 11 - 24, 2012 — Pennsylvania — Mid Atlantic Real Estate Journal www.marejournal.com
In a recent national survey, hundreds of corporate executives ranked “highway access” as the factor that most often determines where they locate their business. They no doubt agree with the old saying that the three most important words in real estate are, “Location, Location, Location.”
Mericle agrees too. That’s why we construct all of our buildings in easily accessible locations, just minutes from our local interstates.
If you are looking for industrial, office, or medical space with exceptional highway access in northeastern Pennsylvania, please call us at 570.823.1100. We’ll put you on the road to success in no time.
1104 North Park Drive
400-450 CenterPoint BoulevardCenterPoint EastJenkins Township, PA
• 99,200 SF to 198,400 SF• 33’ to 36’7” ceilings • 26 loading doors• 1 drive-in door• ESFR re protection• T-bay lighting• Near I-81 and I-476• Foreign Trade Zone
1104 North Park DriveHumboldt Industrial ParkHazle Township, PA
• 410,000 SF on 41.03 acres• Expandable to 615,000 SF• Can be subdivided • 31’10” to 36’6” ceilings• 46 loading doors • 1 drive-in door• Rail available• Taxes abated through 2017
1200 E. Lackawanna AvenueMid Valley Industrial ParkOlyphant, PA
• 365,114 SF (expandable) • Can be subdivided• 38.2 acres• 40’2” ceilings • 20 loading doors• ESFR re protection• Ample trailer storage• Near I-81, I-380 and I-84
345 Enterprise Way (Parcel 7A)CenterPoint WestPittston Township, PA
• 6,427 SF to 81,037 SF• 30’ to 33’ ceilings • 12 loading doors• Near Walmart • T-bay lighting• Large parking areas• Wet sprinkler• Near I-81 and I-476
320-330 Stewart Road Hanover Industrial EstatesHanover Township, PA
• 108,000 SF (expandable) • 30’ to 32’11” ceilings • 29 loading doors• 1 drive-in door• Racking, conveyer • ESFR re protection• 5 minutes from I-81• Large parking areas
61 Green Mountain RoadHumboldt Industrial ParkEast Union Township, PA
• 408,200 SF available • Expandable to 648,200 SF • 32 loading doors • 30’9” to 36’6” ceilings • ESFR re protection• 8” concrete apron • Close to I-81 and I-80 • Abundant parking
Development Division:570.823.1100
Bob Besecker Jim HilsherBill Jones Dan Walsh Developing Pennsylvania’s I-81 Corridor for 27 Years.
Click the YouTube logo on Mericle's home page to view videos of some of our available properties.
400-450 CenterPoint Boulevard
320-330 Stewart Road
1200 East Lackawanna Avenue
345 Enterprise Way
61 Green Mountain Road
Scan to view Mericle’s Ready To Go Buildings in great locations!
www.marejournal.com Mid AtlanticReal Estate Journal — NJAA CoNfERENCE & Expo — May 11 - 24, 2012 —Section C
The NJAA Annual Conference & Expo is the ultimate industry showcase for New Jersey’s multifamily housing professionals to connect and learn how to navigate today’s rapidly changing marketplace for success. This year’s show will give you access to:
- More than 1,300 New Jersey apartment industry professionals ready to learn, network, and build partnerships- A packed show floor loaded with the latest products and services - A conference program filled with the latest information on the topics concerning you and your team such as, hoarding, leasing, maintenance for managers, managing your reputation, recycling, sustainability and more!- More networking than ever—from the golf outing to show floor to the After Hours Party
Don’t miss out on your opportunity to stock your business toolkit with the invaluable opportunities the NJAA Conference & Expo offers—visit njaa.com/annual-conference-and-expo-2012 today to view the latest show information and register!
We are pleased to announce our 2012 Keynote Speakers:
Legislative Awards Presentation on Tuesday
Monday, May 218:30am Golf Outing - Ballamor Golf Course11:00am-3:00pm Registration Open11:00am-7:00pm Exhibitor Set-up5:30pm-7:00pm Satellite Registration - Borgata Hotel5:30pm-7:00pm Diamond Reception - Borgata Hotel (by invitation only)7:00pm-9:00pm President’s Reception - Borgata Hotel (ticketed event)Tuesday, May 227:00am-5:00pm Registration Open7:30am-9:00am Networking Breakfast9:15am-10:30am Keynote Address & Legislative Awards How to Win an Unfair Fight10:30am-2:45pm Expo Floor Open12:00pm-1:30pm Networking Lunch (on the Expo floor)2:45pm-3:45pm Educational Sessions Never Say No Comment Online Concerns Time Isn’t On Your Side Hands On Maintenance Tips & Tricks2:45pm-5:00pm Educational Session Hot Topics in Fair Housing 4:00pm-5:00pm Educational Sessions Legislative Update 2012
Tuesday, May 22 Maintenance For Managerscontinued Leasing: The New SHEconomy Being the Best vs. Being Consistently Chosen 9:00pm-1:00am After Hours Party - MIXX at the Borgata (ticketed event)
Wednesday, May 237:30am-1:00pm Registration Open7:30am-8:30am Grab and Go Breakfast8:30am-9:30am Education Sessions Recycling and Sustainability Satisfaction vs. Loyalty Maintaining Your Commercial Boiler The Power of First Impressions JAHMA – REAC Inspection Preparation 9:45am-10:45am Keynote Address The Stetson Experience 10:45am-1:30pm Expo Floor Open12:00pm-1:30pm Networking Lunch (on the Expo floor)1:30pm-2:30pm Educational Sessions How to Fund Retrofits Understanding & Dealing With Hoarding Leasing: Closing is a Process, Not an Event JAHMA Appealing Your REAC Inspection Hands on Appliance Maintenance & Repair
T U E S D AYGarrison WynnHow to Win an Unfair Fight: What The Most Influential People Do Differently9:15am – 10:30am
W E D N E S D AYJon StetsonThe Stetson Experience9:45am – 10:45am
T U E S D AYUpdate from the Department of Community AffairsThe Honorable Richard E. Constable, IIICommissioner
Housing ChampionAsw. L. Grace SpencerChair, Assembly Environment Cmte(D-Essex)
Legislator of the YearSenator Steven V. Oroho(R-Sussex, Warren & Morris)
Join Us for the 23rd Annual NJAA Conference & ExpoMay 21 - 23, 2012 :: Atlantic City Convention Center
CONFERENCE SCHEDULE : : (All events to take place at the AC Convention Center unless otherwise noted)
For more information please visit njaa.com or contact us at 732-992-0600 or [email protected].
Register today! Visit njaa.com or contact us at 732-992-0600 or [email protected] for details.
Inside Cover C—May 11 - 24, 2012 — NJAA CoNfERENCE & Expo — Mid Atlantic Real Estate Journal www.marejournal.com
Making insurance coMpanies
live up to their claiMs.®
M. MILLER & SONOver 50 Years of Committed Service to the Policyholder
LICENSED PUBLIC ADJUSTERS | SINCE 19601211 Liberty Avenue Hillside, NJ 07205 Toll Free: 877MMILLER (877.664.5537)
www.mmillerson.com
PROUD MEMBERS OF
NJAA_B&W_ad_Layout 1 4/30/12 3:54 PM Page 1
www.marejournal.com Mid AtlanticReal Estate Journal — NJAA CoNfERENCE & Expo — May 11 - 24, 2012 —1C
NJAA CoNfereNCe & expo
Residential • Commercial • Industrial
COOPER ROOFING INC.We Service New Jersey, Pennsylvania, Maryland and Delaware
Specializing In Commercial and Industrial Roofi ng
24 Hour ServiceCall 800-945-2833
www.cooperroof ing.com970 River Rd. • Croydon, PA 19021
Low, Low Prices
We Not Only Install New Roofs, We Repair Also!
30 Years of Experience
2C—May 11 - 24, 2012 — NJAA CoNfERENCE & Expo — Mid Atlantic Real Estate Journal www.marejournal.com
NJAA CoNfereNCe & expo
Keynote Address - How to Win an Unfair Fight: What the Most Influential People Do Differently [ALL]Garrison Wynn, Wynn SolutionsThis entertaining (that means funny) research-based keynote reveals how top performers harness the power of their advantages, even when the odds are not in their favor. Business relationship expert and Amazon.com bestselling author Garrison Wynn delivers a high-impact program that answers two monumental questions: How do you get people to do what you want them to do? And how can you get better results from the difficult
people you encounter along the way? With an emphasis on what you can actually walk out of the session with and achieve tomorrow; this program shows you how to weather the perfect storm while still looking really good in a raincoat!
Never Say No Comment: How to Protect Your Reputation and Shine in the Media Spotlight [O, PM, A]Karen Friedman, Karen Friedman EnterprisesImagine a TV camera, microphone or print reporter recording your every word. You blank out, say the wrong thing or maybe you don’t understand what the media really wants. Whether you’re live at five, quoted in a newspaper or appear on You Tube, how your organization manages and delivers media messages often drives public perception. In this eye opening session, international communications coach and best-selling author Karen Friedman will show you how to confidently turn negatives into positives and maximize results during the toughest of times. Learn how to think like a reporter to anticipate questions and help them help you tell your story, condense complicated information into bite-sized nuggets that are easily quoted and understood, the do’s and don’ts of effective interviews to minimize mistakes and maximize results, and how to control information even when you can’t comment.
Online Concerns - Ensuring your website is ADA Compliant [O, PM, A]& Managing Your Online Reputation Paul Jay Cohen & Jenel Marraccini, Cohen & Willwerth and Eric Barbour, G5Websites of private entities that offer public accommodations (which include apartments) are covered by the Americans with Disabilities Act (ADA) and must be fully accessible to individuals with disabilities. This course will examine the
standards and guidelines to help you understand what is required to comply with the ADA laws and make sure your site is compliant. Today, ratings and reviews can be shared and distributed to the masses within seconds. Most properties would see this as a liability, but for those who know how to manage the resident experience it’s an opportunity to grow business in a powerful way. In this session you will learn to manage your online reputation and digital experience in a way that ultimately results in increased occupancy and revenue, while converting prospects into leads and leads into residents.
Time Isn’t On Your Side [PM, L, OS, A]Andrew Botieri, Total Peak Performance Do you know how much time we waste every day? The numbers will amaze you. Putting our lives into perspective, assessing what is and isn’t important is an on-going battle. In this session, learn five “time saving” tips to increase productivity and other proven time management techniques. Through simple goal setting exercises you’ll put a plan of action together to help you prioritize your “out of control” life. It’s all about balance. There is a direct correlation between managing our time and our stress level, learn to identify the causes of stress and reduce that stress at work and at home. If you’re not managing your time, you’re not managing your life!
Hands On Maintenance Tips & Tricks [M]Mark Cukro, Service Team Training This seminar is for all technicians but technicians with experience will benefit the most. We will go over a few tips and tricks that will save time diagnosing components in appliances and a few HVAC tips that are sure to save time in the field. We will also show you a quick way to diagnose a refrigerator that you are sure to appreciate and put to work immediately. (you won’t even have to turn one screw)
23rd ANNUAL NJAA CONFERENCE & EXPO / MAY 21-23 / ATLANTIC CITY EDUCATION
2:45 pm to 3:45 pm
T U E S D AY, M AY 2 2
9:15 am to 10:30 am
SESSION KEY :: Who should attend?O - Owner PM - Property Manager L - Leasing AgentM - Maintenance A - Affordable OS - Office Staff
www.marejournal.com Mid AtlanticReal Estate Journal — NJAA CoNfERENCE & Expo — May 11 - 24, 2012 —�C
NJAA CoNfereNCe & expo
obust demand forapartments alongthe Gold Coast will
ignite de-velopmentinNorthernNewJersey,whilestronge m p l o y -ment gainswill createnew renterhouseholdsinSouthJer-sey.Youngprofessionalswilltarget amenity filled com-munities near the PATH inJerseyCity,whererentsarenearly 30 percent cheaperthan comparable units inManhattan.Families facingdistress or seeking larger,moreaffordablelivingspacewillalsomigrateacrosstheHudson tohigh-end rentalsinWeehawkenandHoboken.Assupplytightens,develop-erswillcapitalizeonaccesstofinancingandusetheUrbanTransit Hub Tax Credit tocover thegapbetweendebtandequityneeds.Cities offthe waterfront in HudsonCounty will receive thou-sands of new apartmentsover the next few years,which could force landlordsto be creative to competefor tenants. In South Jer-sey,operationswillimprovethisyearassolidjobgrowthboosts renter demand. The$2.4billionRevelhotelandcasino,forexample,recentlyopenedinAtlanticCity,andwillhelprevitalizetheareawith5,500newjobs.Asmanyofthesehospitalityworkerstend to lease apartments,vacancyintheregionwillfallto the lowest level in threeyears.Taxincentivesandelevat-ed activity at the Port en-couraged businesses in thetrade, transportation andutilities industry to boostheadcounts.Asaresult,thesector recorded the largestyear-over-year growth inmorethanadecade,gaining7,700 jobs through thefirstquarter.Thestatewideedu-cation and health servicessegment has posted sevenstraightquartersofemploy-ment increases, after com-panies added 8,100 jobs inthefirstquarter.Inthepastyear,thesectorgainedover23,400positions,thelargestincreaseonrecord.Roughly$700millionindevelopments
By Michael J. fasano, Marcus & Millichap Real Estate Investment Services
Strong job growth sparking New Jersey apartment development
R is taking place in Newarkthat will create 2,500 jobs.Bartlett Dairy, for instance,recentlymovedfromQueenstoafacilityintheSouthWardthat added 400 jobs to thearea. In addition, WakefernFoodisbuildingawarehouseanddistributioncenterintheEast Ward of Newark thatwillgenerate120permanentpositionsbyyearend. Job growth, coupled withsoft demand for single-fam-ily homes, helped underpinan 80-basis-point decreasein vacancy in the state to
a four-year low of 3.7 per-cent,includingadecreaseof20 basis points in the firstquarter.Landlordsincreasedasking rents 2.1 percent inthesamespanto$1,322permonth,while effective rentsclimbed2.8percentto$1,267permonth.Thelowinterestrateenvi-ronmentwillfuelinvestmentactivity this year. Ownerswill take advantage of thecapratecompressionandlistClassA/Bcomplexestoavoidapossibleincreaseofinterestratesorcapitalgainstaxesin
2013.Propertiesinprimear-easofNorthernNewJersey,including Bergen, Hudson,PassaicandMorriscounties,will receive multiple offersfromprivateinvestorsseek-ing healthy, long-term cashflow.Afewbuyerswillsecureleveragetoenhancecash-on-cashreturns,whilecapitaliz-ingonthefavorableinterestrate spreads. Opportunisticinvestors looking for lowerpricepointswilltargetolderbuildingsnearmass-transitstationsinEssexandUnioncounties,where themedian
price is roughly 40 percentbelowtheregion’s.Elsewhere,localsyndicateswillpurchasepropertiesinMonmouthandMiddlesex counties, and re-positionthecomplextoboostrentrolls.REITs,meanwhile,will acquire ClassA assetsacrossNewJersey,whichwilltradeatcapratesinthesub-6percentarea.Michael J. fasano is the vice president and re-gional manager of the New Jersey office of Marcus & Millichap Real Estate Investment Services.n
Michael J. Fasano
Offices Nationwide www.MarcusMillichap.com
Expertise Locally, Trusted NationallyMaking a Market from Wall Street to Main Street
MID-ATLANTIC REAL ESTATE JOURNAL 1/2 PAGE MAY 2012 8”w x 8.25”h BW
BELOW IS A SAMPL ING OF OUR RECENT CLOSINGS
Newark, NJ306 Units
North Brunswick, NJ184 Units
Haddon Township, NJ80 Units
North Plainfield, NJ47 Units
Rahway, NJ30 Units
Haddon Heights, NJ22 Units
Newark, NJ18 Units
Teaneck, NJ16 Units
West New York, NJ13 Units
Marlton, NJ296 Units
Atlantic City, NJ158 Units
Plainfield, NJ70 Units
Hackensack, NJ45 Units
Oaklyn, NJ28 Units
Bound Brook, NJ20 Units
Plainfield, NJ18 Units
East Rutherford, NJ15 Units
Midland Park, NJ12 Units
Rahway, NJ194 Units
Newark, NJ115 Units
East Orange, NJ50 Units
Bloomfield, NJ34 Units
New Brunswick, NJ22 Units
Irvington, NJ19 Units
Nutley, NJ16 Units
Clifton, NJ14 Units
Bogota, NJ11 Units
Visit us at Booth 306NJAA Annual Conference & ExpoAtlantic City Convention Center
May 22 – 23, 2012
4C—May 11 - 24, 2012 — NJAA CoNfERENCE & Expo — Mid Atlantic Real Estate Journal www.marejournal.com
NJAA CoNfereNCe & expo
Legislative Update 2012: Latest News & Rumors from Trenton and Washington [O, PM, A]Conor G. Fennessy and Nicholas Kikis, NJAA and Cindy Chetti, National Multi Housing Council (NMHC) (invited)When it comes to multi-family rental housing policy, there is always breaking news from Trenton and Washington that impacts your business. With a Republican
governor and a Democratic legislature, is divided State government working or are we seeing more roadblocks? What about news from Washington? What issues are moving on Capitol Hill? What policy initiatives from the Obama administration will impact multifamily housing? Learn about the hottest policy and political news that might affect you, your residents, your employees, and your bottom line.
Maintenance For Managers: Improve the Service Department and Run It Like a Business [PM, M, A]Mark Cukro, Service Team TrainingThis seminar is recommended for all Service Team members at all experience levels and anyone that want to learn better ways to run a service department. In this session you will learn new ways to improve the overall quality of your service department, how to manage a service team more effectively, and how to deliver better service to your residents. We will give you the tools to build a team that performs at higher standards, discuss how to implement new ideas successfully as well as gain buy in from everyone on the team. You will also learn the most common mistakes Leaders and Service Managers make and how to avoid them. The new techniques you will learn are proven ways to motivate team members and we’ll even discuss how to really get the shops organized and why it is so important to the success of an organization.
Leasing: The New SHEconomy: (Selling to women) [L, PM]Lisa Trosien, The Apartment ExpertIf you ‘THINK PINK’ when marketing to women, you’re way off. You should be thinking ‘GREEN’ as in eco-friendly. Women not only make more decisions, they have more jobs, as 80% of the millions of lost jobs were held by men in male dominated industries. Do you have what it takes to market to the NEW majority? In this session you’ll learn how to: craft advertising campaigns that appeal to women’s values, ‘work’ social media
(where women are the fastest growing group), speak in terms that relate to women, understand how to sell more effectively to women than ever before, create models that ‘speak’ to women, and craft collateral materials that resonate with women prospects
Being the Best vs. Being Consistently Chosen [ALL]Garrison Wynn, Wynn SolutionsSuccess is more than being good at what you do; it’s about being consistently chosen to do it. Garrison Wynn helps people to understand why their products, services or management styles or those of their competitors are selected. People don’t necessarily choose what’s best; they choose what they are most comfortable with, whether it’s the best or not. We’ve all heard the importance of best practices and customer service, but why are some people so good at attracting and retaining customers with minimal effort, while others struggle? This interactive research-based (surveyed hundreds of successful multifamily housing properties across the country) session shows how behavior drives customer perception and simple repeatable service processes create a culture of loyalty.
23rd ANNUAL NJAA CONFERENCE & EXPO / MAY 21-23 / ATLANTIC CITY EDUCATION
4:00 pm to 5:00 pm
Hot Topics in Fair Housing [ALL]Tracey Goldstein, Esq., Feinstein, Raiss, Kelin & Booker, L.L.C.This session will cover everything you wanted to know, but were afraid to ask about Fair Housing. The first half of the session will focus on what is a reasonable accommodation and when it must be granted. Attendees will learn how to distinguish a pet from a service animal, when a parking space must be assigned to a disabled resident and whether an owner must adjust his/her financial criteria when evaluating a disabled or Section 8 applicant. For the second half of the session, attendees will participate in an interactive game show, “Are You a Fair Housing Expert?” Modeled after the television quiz show, Who Wants to be a Millionaire, participants will answer multiple choice questions on hot topics in Fair Housing. Contestants can phone a friend, poll the audience or participate in the 50/50 to choose the correct answer.
2:45 pm to 5:00 pm
www.marejournal.com Mid AtlanticReal Estate Journal — NJAA CoNfERENCE & Expo — May 11 - 24, 2012 —�C
NJAA CoNfereNCe & expo
For over 26 years, we at Aegis Energy Services havehelped hundreds of customers reduce their energycosts by installing our highly efficient Combined Heat & Power systems.
Building owners and operators can take full advantageof this green, energy-saving technology without anycapital cost through our Shared Savings Program.
Free energy analysis - call us today to see how much you can save with Aegis.
55 Jackson St., Holyoke, MA 01040
413-536-1156 • 877-903-5170
www.AegisEnergyServices.com
Tired of being held hostageby your energy costs?
Booth # 535 for the NJ Cooperator
Show
Booth # 102 for the NJ Apartment Association Show
Visit us at:
ood news for build-ings l ike yours .NewJerseyisoffer-
ing signifi-cant grants( $ 1 0 0 , 0 0 0and more)f o r C o m -bined Heatand Power(cogenera-t i on ) sys -tems.AegisEnergy Services has exten-siveexperienceandsuccessin securinggrants forCHPsystemsinfacilitiessuchasyours.CHP (cogeneration) is thesimultaneous production ofboth usable heat and elec-tricity from a single fuelsource, in this case clean,affordablenaturalgas.
AegisEnergyServices,Inc.istheleaderinthisindustrywitha27-yeartrackrecordof installing hundreds ofCHPsystemsthroughouttheNortheast, including NewJersey. Cogeneration is ourcorebusiness.
We offer a free energyanalysis to determine theamount of savings you canexpect with our systems.2-year to 4-year paybackscan be expected with thesegrants.
Ifcapitalconstraintspro-hibit your investing in ourtechnology, thenAegis willmake this investment andsharethebenefitswithyou.
These grant funds arelimitedandweshouldbeginthe grant application nowtosecureyourshareofthisprogram. Contact us todayto initiate the process 877-903-5170.
We will design, install,own, maintain, fuel, andoperateamodularcogenera-tionsystematnocosttoyourfacility.Aegiswillinterfacethe cogeneration systemwithyourelectricalandme-chanicalsystemstoprovidebothmeteredelectricalandthermalenergy(heat).
Thecogeneratedelectricitywillbeprovidedtoyourfacil-ityatadiscount fromyourprevailing utility electricalrateswhileheatisprovidedatstandardcost.
Inaddition toannual en-ergy savings, substantialannual savings ($20,000±)also occur to the Host sitethroughtheamortizationof
•Buyoutforoneyear’spay-mentafterthe15thyear.
Fullsavingsbenefitwouldbe realized for many yearsthereafter with theAegiscomprehensivemaintenanceprogram.
TheobjectiveistogetourCHP/cogeneration systemoperating now and amor-tize a plant over the con-tractperiodusingthesamedollars currently expendedfor monthly electric utilitybills.
Youcanlearnmoreaboutour history and success inreducing energy costs infacilitieslikeyoursfromourwebsiteatwww.aegisenergy-services.com.
Dale Desmarais is a sales manager at AEGIS Energy Services, Inc. n
By Dale Desmarais, AEGIS Energy Services, Inc.
GRANTS of $100k or more now available to fund your energy-saving cogeneration system G
“We will design, install, own, maintain, fuel, and operate a modular
cogeneration system at no cost to your facility. Aegis will interface the
cogeneration system with your electrical and mechanical systems to
provide both metered electrical and thermal energy (heat).” Dale Desmarais
mentatadecreasingcost.
•100%oftheoriginalmarket
valueduringthe1styear.
•30%attheendofthe10thyear
thecapitalcostofthesystem.Throughthehostsite’spur-chaseofelectricity,Aegis is
amortizingthecapitalcostoftheequipment,thereforeatanytimeduringthecontractperiodthehostsitehastheopportunitytobuytheequip-
�C—May 11 - 24, 2012 — NJAA CoNfERENCE & Expo — Mid Atlantic Real Estate Journal www.marejournal.com
NJAA CoNfereNCe & expo
Recycling and Sustainability [O, PM, M, A]Rob Campbell, Waste ManagementThis panel will discuss recycling and sustainability as it pertains to the multi-family housing industry. The panel will discuss how to implement a recycling and sustainability program at your property, some of the challenges properties face and how to overcome them.”
Satisfaction Vs. Loyalty [O, PM, A, OS]Michael Mendillo, Wentworth ManagementThis session will discuss the significant difference between satisfaction and loyalty with both clients and internal associate – and what is required to create loyalty within your client-base and workforce.
Maintaining Your Commercial Boiler Throughout The Year [PM, M]Gary Frank, American Boiler Company, Inc.Proper maintenance of a commercial boiler is a year round process. In this session, you will learn tips to properly maintain your boiler and your entire heating system. There will be an emphasis on identifying warning signs before a serious problem develops that can result in unscheduled system downtime and costly repairs.
What Am I Saying? The Power of First Impressions, Body Language, and Dress For Success [PM, L, M, OS]Andrew Botieri, Total Peak PerformanceTo ensure your success in property management you must go beyond just simple communication. The power of communication lies in not so much what you say verbally but what you say in your non-verbal communication. In this session we’ll explore how to create a powerful first impression with your prospects, residents and your own team. You’ll learn how to interpret your prospects body language during a tour and how to get them back on track and learn how you can use your body language to your advantage during the leasing process. We’ll also share the 5 tips to dressing for success. Whether you’re leasing apartments, leading an onsite team or providing customer service to your residents learn the powerful tools of communication to help achieve your property goals.
JAHMA – REAC Inspection Preparation [A, M]David Buchwalter, NAHP-e, Adv. RAMWhen the Real Estate Assessment Center comes to your door, will you be prepared for their inspection? Join us for a session which will focus on proven strategies for maximizing your REAC inspection scores. This session assumes a basic knowledge of REAC deficiencies, and will concentrate on how best to approach your project and your staff as you prepare for your inspection. Time will be provided for Q&A.
Keynote Address :: The Stetson Experience [ALL]Jon StetsonAmerica’s master mentalist—mind reading has never been this much fun! The Stetson experience is intelligent, interactive and sophisticated fun. Along with hundreds of corporate performances, Jon has performed for three U.S. Presidents, The King of Sweden, The Royal Family of Monaco, and has appeared on countless major television networks. Injecting uproarious comedy into each show, Jon creates a hilarious and unique performance that never fails to blow the audience away. By combining the art of mystery with the science of psychology, the power of intuition, the predictability of human nature and a disarming sense of humor, Jon creates the impression that anything is possible. It’s a show packed with audience participation where thoughts are revealed, minds are read, reality bends and imagination is stretched to the outer limit. He knows what you’re thinking…no, really, he does.
23rd ANNUAL NJAA CONFERENCE & EXPO / MAY 21-23 / ATLANTIC CITY CONFERENCE PROGRAM & EDUCATION
8:30 am to 9:30 am
W E D N E S D AY, M AY 2 3
9:45 am to 10:45 am
www.marejournal.com Mid AtlanticReal Estate Journal — NJAA CoNfERENCE & Expo — May 11 - 24, 2012 —�C
NJAA CoNfereNCe & expo
Tired of Oil? ...Go2GasIt’s easy, fast & you’ll save money every month!
Three Easy Steps: 1. Project Management: American Boiler Company handles all aspects of your project including design, permitting, inspections, and coordinating with your local gas utility.
2. Installation: Factory trained and certified technicians install your new gas burner right — the first time.
3. Enjoy your savings month after month.
24 Hour Emergency ServiceServing NJ & NYC
www.Go2Gas.com
1300 Central AvenueHillside, NJ 07040
(973) 923-1999
BOILERS • BURNERS • WELDING
For more information on oil to gas conversions visit:
he stunning collapseofSRECpricesinNewJersey has revealed
the specula-tivenatureofphotovoltaicsolarsystemsfor commer-cial propertyowners.Lessthan a yearago, SRECs–thetradablecertificatesthatsolaroperatorsareissuedfor generating 1,000 kWh ofelectricity – were selling forover$650each.Atthatlevel,theownerofa50kWsystemcould comfortably recover aninvestment in solar in ap-proximately5years,andenjoya return on investment thatwouldexceedthereturnsavail-ablefrommoretraditionalrealestateinvestments.
Itseemedtoogoodtobetrueand many rushed into themarkettocapturetheirshareof the SREC goldmine. Somany rushed in, in fact, thatthe supply of SRECs surgedand the price has dropped tounder $100 per SREC. A 50kWsystemthatwasonceearn-ing its owner over $30,000 ayear in SREC revenues nowproduceslessthan$5,000.Forthosecountingonthatrevenuestream to service debt, thisis an extremely unfortunatedevelopment that has turnedwhat seemed like a savvyfinancial move into a real fi-nancialburden.Withoutnewlegislation requiring energycompanies to purchase addi-tionalSRECs, theoversupplyof SRECs in the market willcontinue to suppress SRECpricing into the foreseeablefuture.
Commercialpropertyownerslooking for alternative waysto cut energy costs and cre-ateagreenerbuildingshouldexplore Combined Heat andPower (CHP) systems. CHP(also known as cogeneration)offersafarlessspeculativein-vestmentwiththepotentialforimpressivereturns.Unlikeso-lar,CHP’sfinancialbenefitsarenot derived from an artificialmarket ofRECsmanipulatedby state regulators. Rather,the value of the CHP systemcomes from its ability to effi-cientlyproducebothhotwaterand electricity from a singlefuelsource.
Thecostsavingscanbedra-matic. A single 75kW CHPsystem can reduce energy
By Stuart fox, American Boiler Company
With solar in disarray, other options for energy savings emerge in New Jersey
costsfora125unitapartmentbuildingby30%.Thismeansaninvestmentofapproximate-ly $225,000 can save about$50,000 per year in energycosts. This is a return thatrivalssolarduringitsheyday,withoutthespeculativenatureof the SREC market. Plus,reliabilityincreaseswithCHPbecause property owners arelessdependentonthegridforelectricity.SomeCHPmodelscanevenserveasbackupgen-erators.
Property owners with lessthan100apartmentsmayfindthattheydon’thavethedomes-
tichotwaterrequirementstojustifyaCHPsystem.Inthosecases, there are other invest-ments to evaluate that willsubstantially reduce energycosts.Ifyou’rerunningonoil,aburnerconversionfromoiltogas(oroiltodualfuel)shouldabsolutelybeconsidered.Withthedramaticdivergenceinoilandgaspricesoverthepastfewyears,fuelcostscanbeslashed.Surging natural gas suppliesand rising global demand foroil by developing countriesarelikelytosustainthewidepricedifferentialinoilandgasprices.Withapaybackofless
than two years, the financialrisksinvolvedinconvertinganoilburnerareminimal.
Ifyou’realreadyrunningonnaturalgas,andCHPisnotagoodfit,youmaywanttocon-sider improving the efficiencyofyourboiler.Generousincen-tivesinNewJerseyallowprop-ertyownerstoupgradetohighefficiencyboilersandhavetheStatefundupto70%ofthecost.Property owners with boilersunder 500,000 Btuh shouldresearchtheDirectInstallpro-gram,whilelargercommercialpropertyownersshouldtakealookatthePayforPerformance
program.Bothincentivepro-gramsareexplainedatwww.njcleanenergy.com.
Aswemoveintothestartofthewarmweatherseason,nowisagreattimetotakeafreshlook at ways to save moneyon heating and electricity.Withtheprofitabilityofsolarprojects taking a nosedive,propertyownersshouldcomedownfromtheirrooftops,andtakealookaroundtheirboilerroomsforinvestmentstheycantrulybankon.
Stuart fox is the Cfo of American Boiler Company, located in Hillside, NJ. n
T
Stuart Fox
�C—May 11 - 24, 2012 — NJAA CoNfERENCE & Expo — Mid Atlantic Real Estate Journal www.marejournal.com
NJAA CoNfereNCe & expo
How To Fund Retrofits [O, PM]Pat Bunn, MaGrann AssociatesWith many grant programs expiring, multifamily energy efficiency improvement programs will move from grants to program-subsidized financing. Without grants, participants will have to ask, “Is the program worth the investment?” This places added importance on the accuracy of audits’ projected costs and savings. Property owners will have to decide how to address soft costs. Will these costs make loans prohibitively expensive? Will
programs cover or discount these costs, or will soft costs need to be covered by energy savings. Will the list of recommended improvements change dramatically when all soft costs are absorbed into the overall cost-effectiveness calculations? How will replacement of aged equipment be factored in, once property owners are absorbing all costs? Because program participants will need to decide “How good a deal is this?” programs will need to ask “What motivates owners to take this loan?” Will programs buy down the cost of financing? Will they cover the soft costs of the project?
Understanding and Dealing With Hoarding [O, PM, L, M]Deborah M. Gershen Gennello, CPM, The Gershen Group and Bruce E. Gudin, Esq., Ehrlich, Petriello, Gudin & PlazaExplore the problems caused by hoarding for your operations and your residents. Our experts will provide ideas on policies to catch the issue early, as well as discuss the resources available to you and your residents, they will also explore your legal options and obligations. After the presentation there will be an open forum for questions and answers.
Leasing: Closing is a Process, Not An Event [L, PM]Lisa Trosien, The Apartment ExpertOne of the reasons Leasing Professionals fail to close is that they treat ‘the close’ like an event – putting tremendous pressure upon themselves! When Leasing Pros learn to treat the close as an ‘event’, the pressure goes away and the close becomes the obvious outcome to a well-planned leasing presentation. In this session you’ll learn how to: open with the close, set yourself up for success, use psychology and body language to help
you close your prospects, and create memory points in your model/leasing office/tour path to create greater impact in your presentation.
JAHMA – How to Appeal Your REAC Inspection [A, M]David Buchwalter, NAHP-e, Adv. RAMNow that you have had your REAC inspection, this session will provide detailed information on what you can appeal, and how to go about doing so.
23rd ANNUAL NJAA CONFERENCE & EXPO / MAY 21-23 / ATLANTIC CITY CONFERENCE PROGRAM & EDUCATION
1:30 pm to 2:30 pm
Thank You to Our Education Sponsors
www.marejournal.com Mid AtlanticReal Estate Journal — NJAA CoNfERENCE & Expo — May 11 - 24, 2012 —�C
NJAA CoNfereNCe & expo
ruce E. Gudin, is themanaging partner ofthe Landlord-Tenant
Departmentat Ehrlich,P e t r i e l l o ,Gudin&Pla-za,PChead-q u a r t e r e din Newark,NJ. He wasadmitted topractice lawin1989aftergraduatingfromYeshivaUniversity’sBenjaminN.CardozoSchoolofLawandis currently counsel to manyLandlord’saswellastheNewJersey Property OwnersAs-sociation. Gudin attendedundergraduate at FarleighDickinsonUniversityinHack-ensack,NewJerseyandC.W.PostinLongIsland,NYwherehe received his B.S. DegreeMagnaCumLaudeinbusiness.WhileattendingC.W.Posthe
agencies.Our attorneys have lec-
tured to industry groups,providing our expertise indiverseareasoflawtootherattorneys and interestedmembers of our commu-nity.
WeareactivemembersofthestateandlocalBarAsso-ciationsandindustrygroupsthatservetheneedsofourclients.Weareactiveinlocalgovernment,withoneofourattorneys currently sittingon a local zoning board ofadjustment.Weareassist-ing citizen groups and areactiveinlocalgovernmentinNewarkinanefforttomakeNewarkabetterplacetolive
he law firm of Eh-rlich, Petriello, Gu-din&Plazahaspro-
videdquality legalservicestoclientsinNewJerseyandNewYorkformorethanfivedecades. Our law firm pro-videsavarietyofservicesforindividuals and businessesinmanyareasoflaw.
Ehrlich, Petriello, Gudin&Plaza,foundedin1955,isafull-servicelawfirmwithofficesinNewark,NewJer-sey,Morristown,NewJerseyandNewYorkCity.Youcanfeel confident placing yourlegalneedsinthecompetent,capablehandsofourexperi-encedattorneys.
Foundedin1955,thefirmhas grown in diversity ofpracticeareasandaccumu-lated experience to becomeoneofthepremiermid-sizedlawfirmsintheNewJersey-NewYorkmetropolitanarea.Ourclientsincludeindividu-als,smallbusinesses,largecorporations,publiclytradedcompaniesandgovernment
over �0 years of experience
The Law firm of Ehrlich, petriello, Gudin & plaza
T
Bruce Gudin
LAW OFFICESEHRLICH,PETRIELLO,GUDIN & PLAZAA Professional Corporation
LAW OFFICESEHRLICH,PETRIELLO,GUDIN & PLAZAA Professional Corporation
andwork.Forover50years,wehave
successfullyrepresentedourclientsincasesarisingfrombreachofcontracts,businessdisputes,divorceandfamilylaw issues, negligence andpersonalinjuries,collectionsof debts, and other variedandimportantmatter.
Weareoneofthehighestvolume filers of landlord-tenant eviction cases inNewJersey.Partner,BruceE. Gudin is the author ofTheGuidetoLandlordTen-antandRelatedActions intheSuperiorCourtofNewJersey,whichpublicationisconsideredtobetheleadinglandlord-tenantlawtreatiserelieduponbyboth judges
partner profile“For over 50 years, we have successfully represented our clients in cases arising from breach of contracts, business disputes, divorce and family law issues, neg-ligence and personal injuries, collections of debts, and other varied and important matter.” B wasawardedtheWallStreet
JournalAwardforoutstandingacademicperformance.
SincegraduatinglawschoolGudin has been a frequentlecturer on the subjects ofDebtor and Creditor Law,Credit and Collections RiskAnalysis,AdvancedLandlord/Tenant Law, Residential andCommercialEvictionsinNewJersey, Commercial LeasingConsiderations, and on Sec-tion8HousinginNewJersey.He regularly lectures for theNational Business Institute,Lorman Education Services,andto theNewJerseyInsti-tute For Continuing LegalEducation.
Gudin is also an activemember of the New JerseyApartmentAssociationwherehe regularly consults onlegislative issues affectingthe multi-family housingindustry.n
10C—May 11 - 24, 2012 — NJAA CoNfERENCE & Expo — Mid Atlantic Real Estate Journal www.marejournal.com
NJAA CoNfereNCe & expo exhibitor List
428 A & S Boiler519 Aaron & Company517 Acadia328 Accent Group219 Advanced Pavement Technologies102 Aegis Energy Services717 AFR Furniture Rental802 A-L Services635 Aldo Design Group633 All Risk Property Damage Experts537 Alliance Distributors & Services820 AMCO Pest Services711 AmericanArchitecturalWindows&Doors228 American Boiler Company229 American Boiler Company808 American Carpet South510 Apartment Finder529 Apartment Guide311 Apartments.com420 AppFolio516 Appliance Brokers Ltd.310 Archer & Greiner216 Arrow Steel Inc.434 AVCO Supply Inc.206 Axiom Communications832 Bader Company504 Bargold Storage Systems, LLC722 Bath Saver Commercial LLC124 BCS Interactive123 Behr830 Belfor USA545 Berkadia Commercial Mortgage408 BH Security425 Butler Engineering Associates, Inc.534 CALECO521 CallSource706 Capture The Market429 Carfaro Inc.503 CB Richard Ellis637 Central Wholesalers Inc724 CertaPro Painters505 ChampionUtilitySub-MeteringSolutions406 Chute Master Environmental Inc.211 City Fire Equiptment Co.602 CMQ Floor Covering401 Coinmach105 Columbia Bank134 Comcast Cable106 ConService202 Constellation Energy828 CorbettExterminators410 CoreLogic SafeRent701 CORT Furniture Rental625 CPR Services126 Cure Breast Cancer Foundation332 Delaware County Fire Restoration209 Design East411 Direct Supplies Warehouse424 Direct Supplies Warehouse233 Dogwood Building Supply523 Down to Earth Landscaping825 Drexel725 DS Magic Tech LLC223 EAM Associates506 Eastern Contractor Services509 Ehrlich, Petriello, Gudin & Plaza317 Elias B Cohen403 Emlin Group, ltd.520 Energy Squared LLC323 EnTech Digital Controls623 Equipment Marketers
622 Executive Credit Management327 Falcon Engineering326 Falcon Engineering620 Feinstein, Raiss, Kelin & Booker LLC237 Ferguson Enterprises618 For Rent Media Solutions821 Fowler Route Company601 Frankford Umbrellas532 G5524 GardenStateGutterCleaning316 Gebroe Hammer404 General Plumbing Supply707 Genesis Creative Promotions733 Goodman MFG.631 GormanRoofingServices435 GreenTech Engery Services324 GriffinAlexander,PC318 GutterMasterLLC508 Handy Trac Systems201 HD Supply720 Hercules Corporation309 HESS120 High Tech Landscaping409 Indatus417 Insurent303 Integrated Business Solutions435 Investors Bank531 IREM New Jersey325 ista North America718 J. Rapaport Flooring533 JAHMA723 James Hardie Building Products405 JEM Appliance419 Jewel Electric Supply Co.335 JGS Insurance430 Karl’s Appliances721 KennethJaffeAdvertising522 Kipcon, Inc.301 Kislak835 Kohler128 Landscape Maintenance Services, Inc.604 Lawns By Yorkshire526 LeaseTerm Solutions603 Legacy Energy407 LEW Corporation619 Lewis Chester Associates, Inc507 LexisNexis221 Liberty Elevator Corporation626 LIS Custom Designs Inc702 Lundt Combustion Systems117 M. Miller and Son204 Mac- gray422 MaGrann Associates210 ManhattanWeldingCompanyInc.306 Marcus & Millichap818 Martin Greenbaum511 Meridian Capital Group729 Mid Atlantic Real Estate Journal628 Mike’s Flooring Companies611 Mitchell Supreme Fuel Oil100 Mohawk industries402 Move.com305 MSB Resources437 Multi-Housing Depot by ARI708 National Apartment Association207 National Restoration320 National Tenant Network122 New Jersey Builders Association709 NJ Housing & Mortage Finance Agency627 NJ Smart Start Buildings133 NJAA Charitable Fund
232 NorthernWaterproofing&Restoration630 NVE Bank518 NWP Services Corporation719 Oil Tank Services624 Omland Engineering307 Onorati Construction Co. Inc.432 On-Site.com817 P.CooperRoofing227 Pardini R.Construction Corp806 Paul Davis Restoration Services331 Pavlov Media108 PC Richard730 Photo Booth704 Pierce - Eislen308 Pilera Software, LLC203 Pincus Elevator220 Planned Companies333 Professional Carpet Company606 Property Owners Association734 Property Solutions726 PSE&G Cool Customer Program819 RealPage, Inc608 Regal Bank322 Rent.com226 Rentals.com528 RentPayment, Inc.418 RestoreCore304 RifkinRosen829 Roto-Rooter530 RWC Windows, Doors & More416 Sax Macy605 Screening Reports Inc.319 SEBCO Laundry Services337 SecureWatch 24501 SERVPRO of New Jersey101 Sherwin Williams218 Sign-a-Rama of Cherry Hill735 Sordoni Construction Co217 Spin Cycle737 Standard Elevator Corp426 Suburban Morris Water Conditioning621 Supreme Metro Corp502 SureDeposit703 TenantSafe111 The Brickman Group609 The Home Depot222 TransUnion423 UGI Energy Services, Inc.727 Valcout Exterior Building Services302 Valet Waste235 Venturi Technologies617 Verizon Enhanced Communities634 Waldor Schulman208 Waste Management205 Western Pest Services321 WILMAR107 Wilson,Elser,&Moskowitz607 Window City103 Withum Smith & Brown Pc632 WoodruffEnergyUS,LLC527 World Wide Wholesale Floor Covering334 Yardi Systems Inc421 Young Adjustment Company
E X H I B I T O R L I S T as of 4/27/12
www.marejournal.com Mid AtlanticReal Estate Journal — NJAA CoNfERENCE & Expo — May 11 - 24, 2012 —11C
NJAA CoNfereNCe & expo
Markets we serve:
Markets we serve: Commercial Industrial Residential Electrical Contractors State, Municipal & Government Hospital & Institutions Property Management & Hospitality
Products we offer: Wire, Pipe, Fittings & Wiring Devices Switchgear, Panelboards, Motor Controls & Motors Lighting & replacement Lamps LED Retrofits, Fixtures and other Energy Efficient ProductsSub-Metering Equipment Meters, Tools & Ladders Safety Devices & Equipment Fire Alarms, Smoke Detectors & Burglar Alarms Generators
Services we offer: On time Deliveries to meet customer requirements 24/7 Emergency Response Inventory Management Project quotes Lighting & Energy Audits Customer Training
455 Third Street Jersey City, NJ 07302
Ph: 201-653-1613 Fx: 201-653-5470 Bob Kilroy
ow green is greenwhen we are refer-ringtoanindividual
oracompanybecomingenvi-ronmentallyresponsible?
Some might argue to beconsideredatrueprotectorofourplanet,agreencompanyor individual,wemust shoponlyinstoresthatspecializeinorganicandlocallygrownproducts, walk instead ofdrive,collectrainwatertouselater and use only productsmadefromrecycledmaterials.Iontheotherhandbelieveintheoldadage,“everylittlebithelps”and“babystepswillgetusthere”.
Every little bit will makea difference; if you are notpreparedtogobig,startoutsmall “baby steps” after all,everylittlebitgetsusclosertoourgoal.
What is our goal? Reduceour carbon footprint by asmuchaswecanasquicklyaswecan.Weshouldallbework-ingtopreserveourplanetforthefuturegenerations.
Peoplesometimesshyawayfrominstituting,energysav-ing initiatives sometimesbecause of the start-up costinvolved.Sowhynotlooktothestateandfederalgovern-menttosubsidizeyourefforts?Withthefederalgovernmentoffering tax incentives andthestateofferingrebatesonprojects, now is the time totakeaction.
Peopleoftenaskme“wheredoIbegin”,whentheywanttoreducetheirenergyconsump-tion. I answer the questionwithaquestion,“whatisrightforyou?”
There are many way toreduceyourenergyloadandbe environmentally friendly.Start-upcostrangefromfreetosometimesinthemillions.Thekeytoembarkingontheright program for you is towork with a energy expertwhounderstandsyourneeds,identifiesyourgoalsandisca-pableofprovidingasolutiontofitthoseneeds.
Take for an example a re-cent commercial customerwho wanted their businesstobeknownasenvironmen-tallyfriendlybutonlyhadalimitedbudgettoworkwith.We worked together, identi-fiedthattheyhadafiveyearlease on the building andwere provided a new HVACupon moving in. With these
factors in mind we targetedour efforts on decreasingpower consumptionby turn-ing unnecessary items offusing photo controls, timersand power-strips that pow-ered down when not in useadditionallyuse14wattLEDlampstoreplacethecurrent75wattlampstocompletethefirstphase.Afterfactoringre-batesandstateincentiveswedevelopedaplanthatwouldcompletelypayforitselfinen-ergysavedwithina12monthperiod, improve the level of
lightprovidedandallowthecorporate headquarters toboast they are an environ-mentally friendly company.Further that initiative withabetterrecyclingprogram,aenergymanagementsystem,programmable thermostatsandeducatingtheiremploy-ees on inexpensive ways tosave energy at home, thiscompany knocked it out ofthepark!
Where are you in theGREEN spectrum? Wherewould you like to be? What
kindofReturnonInvestment(ROI)wouldyou considerahome-run?
Considerdoingoneof thefollowingorall10:•Insulatecracksandopen-ingsandwindows• Use programmable ther-mostats•Reducewater-heatertem-peratureby5degrees•Replaceandcleanfilters•Turnoff lights,automati-callyormanually•Changetoamoreefficient
typeoflighting.•UseSmartPower-Strips•BuyEnergyStarproducts•VentAtticsallowingairtoflowfreely•Educateothers
CalltheenergyexpertsorjustvisitusinBooth419attheAtlanticCityNJAAshow,wewillshowyouhowtofind$50.00 in savings in yourbathroom.
Bob Kilroy, Jewel Elec-tric Supply Co., Jersey City, NJ. n
By Bob Kilroy, Jewel Electric Supply Co.
The different shadesof Energy Green
H
12C—May 11 - 24, 2012 — NJAA CoNfERENCE & Expo — Mid Atlantic Real Estate Journal www.marejournal.com
NJAA CoNfereNCe & expo
hat’s the biggest initiative your firm is rolling out
for 2012?It’sachal-
lengetoiden-tify a single“ b i g g e s t ”i n i t i a t i v ef o r Apar t -ment Guidein 2012. Wetendto“thinkbig” in general around hereandthereforehavequiteafewexcitinginitiativesunderwayin 2012 that are both inter-nallyandexternally focused.Mobileandsocialcontinueto
behugeareasofemphasis,aswearefocusedonmaintaininganongoingrelationshipwithconsumersthroughourmulti-channel strategy.And whilewe have quadrupled leadquantityoverthelastseveralyears,we’realwayslookingforwaystoenhanceonlinerenterexperience and increase thequalityofleads,whichpushesour teamto innovateand le-veragenewtechnologieseveryday.Inshort,itwouldbefairtosaythatourbiggestinitia-tiveis,quitesimply,constantlythinkingabouthowtodeliverbigger, better results for ourconsumerandourcustomer.
How is your firm lever-aging the move toward smart phone applications to deliver your systems and services? Are your clients embracing mobile apps?
I would say we aren’t justleveraging smart phone ap-plications, we’re leveragingsmartmobile.Ourdatashowsthat,whileappsareanimpor-tant component of reachingtoday’sconsumer,mobilewebsitesareevenmoreimportant.Apartment Guide was first-to-marketwith iPhone, iPad,Android and, most recently,KindleFireapps–andwe’veseen over 1.6 million down-
loadsto-date.Ourentirefam-ilyofsitesarealsooptimizedformobile,makingitveryeasyfor the consumer to searchwiththeirsmartphoneinanenvironmentthatcomparesineaseofexperiencetothetra-ditionalwebsite.Inbothappandmobilesiteenvironments,it’scriticaltotestandupdatecontinuouslytostayontopofconsumer preferences, andwedo.Mobile leadsarenowfaroutpacingprintleads,andmobileaccountsfor20%ofourtotalleadproduction.
What advice would you give owners/operators on how to prioritize their
technology needs in the current environment?
Given the challenging eco-
nomicclient,prioritizingtech-nologyinvestmentsisamust:
1.Lookforwaystousetech-nology to simplify, not com-plicate, your processes. Thisdoesn’thave tomeana largeinvestment - there are manyviable open source technolo-giesandapplicationsthatcanbeleveraged.
2. Concentrate on technol-ogy that helps you retainyour current customers, andthereforeyourcosts.Aretheretechnologiesthatcanhelpyoudothis?
3.Finally,castingawidenetto increase your occupancyisparamount.Areyouwhereyour customers are? Do youhaveadefinedsocialstrategy?What about mobile - are youthere? If not, look to partnerwithsomeonewhoisutilizingtherighttechnologiestohelpyou capture new residentscost-efficiently.
Are there particular ben-
efits to investing in tech-nology that are commonly underestimated?
Theeffectivenessoftechnol-
ogy is often tied to an ROI;factors such as whether theimplementationsavedmoneyor generated more revenue.Whilethesearenodoubtim-portant, one of the greatestbenefitsoftechnologyinrecenttimes is that it helps defineworkaswhatwedo,notwherewedoit.Theadventofmobileapplications and devices al-lows us to accomplish tasksfrom a variety of locations,notjusttheplacewecall‘ouroffice’.Usedcorrectly,thiscanbeatremendoussourceofpro-ductivity for both employeesandcustomers.
As senior vice president,
pRIMEDIA, Arlene May-field plays a key role in the strategic direction of pRIMEDIA and its sub-sidiaries. As president of Apartment Guide and Ne-wHomeGuide.com, she is responsible for oversee-ing all apartment publica-tions, ApartmentGuide.com, homes publications and NewHomeGuide.com.Corporate headquarters is located in Norcross, GA.n
president of Apartment Guide and NewHomeGuide.com
Questions & Answers withpRIMEDIA’s senior Vp, Arlene Mayfield
W
Arlene Mayfield
www.marejournal.com Mid AtlanticReal Estate Journal — NJAA CoNfERENCE & Expo — May 11 - 24, 2012 —1�C
NJAA CoNfereNCe & expo
Apartment Guide is always thinking BIG. We consistently leverage leading-edge
technology to develop new and better ways to drive BIG leads and leases to your
door. Our comprehensive advertising solutions include web, mobile and social
products that reach potential renters wherever they are...on-the-move and on-the-go.
For BIGGER results visit us at www.listonapartmentguide.comApartment Guide is a registered trademark of PRIMEDIA Inc. Other company and product names may be trademarks of their respective owners. © PRIMEDIA Inc. 2012
64929_ThinkBigAg.indd 1 2/24/12 4:11 PM
14C—May 11 - 24, 2012 — NJAA CoNfERENCE & Expo — Mid Atlantic Real Estate Journal www.marejournal.com
134
128
120
122
124
126
101
103 202
105 204
107 206
109 208
111 210
218119
121 220
123 222
125 224
226
228
131 230
133 232
117 216
835
829
827
825
823
821
SeatingArea
FoodArea
FoodArea
SeatingArea
SeatingArea
SeatingArea
ENTRANCE
2012 Conference & ExpoMay 21-23
Atlantic City Convention Center
Exhibit Hall B
10
0 A
ISLE
20
0 A
ISLE
30
0 A
ISLE
40
0 A
ISLE
50
0 A
ISLE
60
0 A
ISLE
70
0 A
ISLE
80
0 A
ISLE
Premium Booth Available
Standard Booth Available
BoothUnavailable
All booths are 10’ x 10’unless otherwise noted
All aisles are 10’ unlessotherwise noted
Floor plan and expo floor hours subject to change
Column/Fire Equipment
Seating/FoodAreas
RESTROOMS
102
104
106
108
201
203 302
205 304
207 306
209 308
211 310
318219
221 320
223 322
225 324
227 326
229 328
231 330
233 332
235 334
237
217 316
301
303 402
305 404
307 406
309 408
311 410
418319
321 420
323 422
325 424
327 426
329 428
331 430
333 432
335 434
337
317 416
401
403 502
405 504
407 506
409 508
411 510
518419
421 520
423 522
425 524
427 526
429 528
530
532
435 534
437
417 516
501
503 602
505 604
507 606
509 608
511
618519
521 620
523 622
525 624
527 626
529 628
531 630
533 632
535 634
537
517
601
603 702
605 704
607 706
609 708
611
718619
621 720
623 722
625 724
627 726
629 728
631 730
633 732
635 734
637
617
701
703 802
705 804
707 806
709 808
711
818719
820
723 822
725 824
727 826
729 828
731 830
733 832
735
717
FoodArea
819
817
100
Entrance to Keynote & Breakfast
HD Supply Kislak Company Coinmach
Archer& Greiner
Elias B. Cohen
P. Cooper Roofing
Acadia Windows & Doors
Marcus &Millichap
Apartments.com
RestoreCore
CoreLogicSafeRent
GebroeHammer
Sax Macy Fromm Insurent
Multi-HousingDepot by ARI
ApartmentFinder
Move.com
Direct Supplies
Warehouse
Emlin Group
AvcoSupply
ApplianceBrokers
JewelElectric Supply
For RentMedia
Solutions
IntegratedBusiness Solutions
RealPage
BHSecurity
GutterMaster, LLC
ArrowSteel, Inc.
Mitchell SupremeFuel Oil
ManhattanWelding
Indatus
Verizon EnhancedCommunities
J. RapaportFlooring
City FireEquipment
CentralWholesalers
YoungAdjustment
NWPServices
SureDeposit
Lawns byYorkshire
Meridian CapitalGroup
SEBCOLaundryServices
CALECO
MohawkIndustries
JEMAppliance
MSBResources
M. Miller& Son
SpinCycle
BrickmanGroup
Chute Master
Environmental
YardiSystems, Inc.
FalconEngineering
Aaron& Co.
HerculesCorp.
PCRichard
WesternPest Services
CB RichardEllis
Mac-Gray
ValetWaste
American Architectural Window & Door
BaderCompany
MartinGreenbaum
AppFolio
GeneralPlumbing
Supply
SherwinWilliams
LEWCorp.
AmericanCarpetSouth
HESS
RotoRooter
CMQ FloorCoverings
NationalTenant
Network
On-Site.com
Rifkin& Rosen
WithumSmith & Brown
ExecutiveCreditMgmt
AdvancedPavement
LewisChesterAssoc.
CarfaroInc.
Wilmar
A & SBoiler
Levy, Ehrlich
& Petriello
AldoDesign
Karl’sAppliances
BargoldStorage
EasternContractor
ServicesLexisNexis
Oil TankServices
Green TechEnergy
MaGrannAssociates
HighTechLandscapes
Sign-A-Rama
ChampionUtility
OnoratiConstruction
DesignEast
EnergySquared
AFRFurniture Rental
RegalBank
721
KennethJaffe
Advertising
DelawareCounty FireRestoration
HandyTrac
Systems
WaldorSchulman
CallSource
EntechDigital
Controls
PileraSoftware
The HomeDepot
ServPro of NJ
WoodruffEnergy US
FowlerRoute Co.
FeinsteinRaiss Kelin& Booker
BelforUSA
10
0 A
ISLE
20
0 A
ISLE
30
0 A
ISLE
40
0 A
ISLE
50
0 A
ISLE
60
0 A
ISLE
70
0 A
ISLE
80
0 A
ISLE
PropertyOwnersAssoc.
FrankfordUmbrellas
PropertySolutions
NationalRestoration
Services
CORTFurniture Rental
NAA
ColumbiaBank
Legacy Energy
LundtCombustion
Systems
RWCWindows,
Doors & More
Investors Bank
SupremeMetroCorp
EquipmentMarketers
CorbettExterminating
Axiom
Kipcon
ScreeningReports
PlannedCompanies
Rentals.com
ConService
LandscapeMaint
Services
TenantSafe
ButlerEngineering
LibertyElevator
G5
AmcoPest
Services
Down toEarth
Landscaping
AegisEnergy
IREM
JAHMA
VenturiTechnologies
WindowCity
UGIEnergy
ProfessionalCarpet Co.
SuburbanMorrisWater
RentPayment
Rent.com
GoodmanMFG
Wilson, Elser &
Moskowitz
JGSInsurance
BerkadiaCommercialMortgage
Mike’sFloor
CoveringsApartment
Guide
FergusonEnterprises
A-LServices
BathFitter
WorldwideWholesale
Flooring
AllianceDistributors
GardenState Gutter
Cleaning
DogwoodBuildingSupply
Capturethe
Market
EAMAssociates
NJHMFA
DirectSupplies
Warehouse
Cure BreastCancer
Foundation
NJ SmartStart
Buildings
NorthernWaterproofing & Restoration
ValcourtBuildingServices
PSE&GCool CustomerProgram
NVEBank
TransUnion
LeaseTermSolutions
PierceEislen
GriffinAlexander
IstaNorth
America
834
737
L.I.S. CustomDesigns
PincusElevator
SecureWatch24
KohlerCompany
NJAA
allRiskPropertyDamage
GormanRoofingServices
BCSInteractive
CPRServices
NJ BuildersAssociation
ConventionRoulette
AmericanBoiler Co.
Inc.
AmericanBoiler Co.
CHP
FalconEngineering
NJAAGiveaway
StandardElevator
Comcast
GenesisCreative
Giveaway,ConventionRoulette, Ask
the Experts, Massage & Recharge Lounge, Photo Booth
Massage &
Recharge Lounge
234
Ask theExperts
FoodArea
135
PavlovMedia
SordoniConstruction
Behr
OmlandEngineering
DS MagicTech
James Hardie Building Products
WasteMgmt
Paul DavisRestorationServices
CertaProPainters
NJAACharitable
Fund
137
ConstellationEnergy
MAREJournal
NJAA Booth
PhotoBooth
Accent Group
Drexel
Pardini R.Construction
Corp.
NJAA CoNfereNCe & expo fLoor pLAN
www.marejournal.com Mid AtlanticReal Estate Journal — NJAA CoNfERENCE & Expo — May 11 - 24, 2012 —1�C
NJAA CoNfereNCe & expo
roviding creative so-lutions for New Jer-sey’spropertyowners
a n d m a n -agers haslong been ahallmark ofEliasB.Co-hen&Asso-ciates. WithW o r k e r s ’Compensa-tion SafetyGroup#204,EBCohenhasonceagaindeliveredthetypeofsolutionthattoday’sprop-erty owners and managersneedtosucceed.
Workers’ Compensationrates have risen 18% overthepasttwoyears(NJcode9015 5.81 to 6.61). Theseincreases are compoundedbecause many owners andmanagers are unable tofind worker compensationcarrierswillingtoofferanycredits and in many cases,thepoliciesintheassignedriskplanarebeingdebited.Intheend,mostownersandmanagers are told that allworkers’compensationpoli-cies are the same becausethe state rate is the samefor each carrier. Ownersand managers are furtherfrustrated by cumbersomeaudits throughout theyearwhichresultsinasignificantamountofwastedtimespenttrying to reconcile payrollsand1099paymentswhichdonotalignwiththecalendaryear.
However, more and moreoften,savvyownersarefind-ingoutthatthismythsimplyisnottrue.These‘bestprac-tices’ownersandmanagersarefindingoutthattheycanbenefitinthefollowingwaysby utilizing Safety Group#204fortheirworkers’com-pensationneeds:
1.Anup-frontdiscountof20% is available for mostNJAAmembers(thisisthemaximum available in NJanddoesnotincludefurthercreditsavailablethroughex-perienceratingfactors)
2.A calendar year policyanniversarydatehelpsexpe-diteauditsinacoupleways;first it allows for multiplepoliciestobeauditedatoncebecause they share a com-mon expiration date, andsecond, it allows for easiercalculation of both payrollfiguresand1099payments.
For further details on how to gain the rewards of participating in the new Professional Real Estate Owners and Managers Association Inc. Safety Group #204, please contact:
Neil Owens, CIC, Esq.Safety Group Administrator
[email protected]: 973-403-9500 800-277-9505Fax: 973-403-7755
20% discount upfront on Workers Comp!
11% dividends two years in a row!*
*Past performance is no guarantee of future results.
Upfront savings of up to 20% off the cost of Workers Comp coverage are now possible for eligible members of the NJAA who join our unique Workers Compensation Safety Group. Participation also offers these advantages:
based on experience of this large group – 11% for 2009 & 2010!*
due to calendar year policy
with the insight of E. B. Cohen experts Insurance Agents Brokers,
Consultants & Risk Managers for the Real Estate Industry
Our members saved over
in the last 4 years on Workers Comp costs.
$700,000
How much did you save?
Jonathan J. Cohen and Neil A. owens
Elias B. Cohen & Associates provides creative solutions for NJ’s property owners & managers
3. Loss control servicesareprovidedtoeachinsuredworksite which results in
both man-datory andadvisoryrec-ommenda-tions. Thiscommitmentt o s a f e t ykeeps youremployeesfromgetting
injured, helps keep experi-ence modifications down,anddrivesupthepotentialfor dividends. This process
istheessenceofthesafetygroup.
4. Claims are monitoredresponsiblytoseewhatcanbe closed.Claims left opencontributetoincreasedexpe-riencemodificationfactors.
5. Dividends, though notguaranteed, are availablebasedontheclaimsexperi-ence of the Safety Group.Forthefirsttwofullauditedyears,theSafetyGrouphaspaid two consecutive divi-dends (in November 2010andNovember2011)of11%
each.6. The savings that the
Safety Group members be-lowastandardworkers’com-pensation policy has beengreaterthan$700,000overa three year period. Thesememberswouldconfidentlysay that not all workers’compensation policies arethesame.
AsSafetyGroupmanager,EliasB.Cohen&Associatesis committed to controllingthecostofriskforitsclientsover the long term. Stabil-
ity combined with creativ-ityleadstosolutionsneverbefore available to NJAApropertyownersandmanag-ers.Itistimetore-evaluateyourworkers’compensationprogram.Itistimetofindasolutioninlieuofthesameold myth about workers’compensation.
Jonathan J. Cohen is president and Neil A. ow-ens is senior vice presi-dent of Elias B. Cohen & Associates in Roseland NJ. n
P
Jonathan J. Cohen Neil A. Owens
1�C—May 11 - 24, 2012 — NJAA CoNfERENCE & Expo — Mid Atlantic Real Estate Journal www.marejournal.com
NJAA CoNfereNCe & expo
Celebrating over20 years of Interior Design and Consulting Excellence
Experience the ultimate in “value driven” interior design excellence from a leader in the apartment industry that maximizes the potential of every community prior to launchingany renovations including: Condo/Apartment Environments,Clubhouses: Interior Design of New & Pre-Existing, Exterior/Interior Signage, Common Areas/Lobbies, and Elevator Updates.
Apartment Interior Design/Renovation Specialist
Medford, NJ • [email protected] • www.designeastinc.com • 609.654.9675
DE_AAGP-Ad w/NJAA logoMay2012:Layout 1 5/3/12 6:35 PM Page 1
By Cathie Daly, Design East Inc.
Design inspired rentalrenovation projects
oday’s rental market,driven by youngerprospects,isaccelerat-
ingthevalueof interiordesign anda r c h i t e c -tural trendsto the fore-front whenresearchinganewapart-ment.
Tomaximizefuturerentalmomentum, it is essentialtoproperlyplanaheadandbudget for future updatesversusonlyperiodicmainte-
T nance.Researchhasproventhatrentalretentioniskey,along with your ability tocaptureawiderrangeofnewprospects.
Consult with an experi-enced designer and suc-cessfully transition yourrenovation.Due to the cur-rent economy, people nowmorethaneverarechoosingapartmentlivingwithallofthebenefitsofamaintenancefreelifestyle.Aninvestmentto renovate dated existingcommunities is the rightdecisionandcostscanbecon-trolled with the right plan-
ningandtherightteam.
Renovate Your Approach:#1 Design Inspired
Everycommunityisdiffer-entandeachoffersavarietyofamenities.Brainstorminganddevelopingnewdesign,marketing strategies, andpossibilities with an expe-rienced design/constructionconsultant, prior to consid-ering any renovation, cangreatlyimpactyourrenova-tionroadmapforsuccess!
#2 Advanced planningRegardless of the level of
yourcommunity,thebenefittopartneringwithadesignconsultant during the pre-liminary discovery processof any renovation is to re-searchthebestapproachtomaximizetheprojectwitha“distinctiveappeal”.
#� Lobby and Common Area Updates
Your ability to thrive inthemidstoftoday’smarketandcompetitioninordertomaintain full rental poten-tial is your key to success.Understandinghowtophaseouttheoldwithamoretime-
lessdesignwillenableyoutomergethenewwiththeold.
#4 Community Center Updates
ResearchtellsusthatGen-eration Y prefers a moreimpressiveclubroomversuspayingforalargerapartmentunit enabling them greatersocializingpotentialandanexceptional cornerstone tothecommunity.
Today’scommunitycentertrends consist of intimateoutdoorspaceswithatrellisand fire pit, bright fitnesscenters with multiple flatscreen televisions and indi-vidual docking stations toallowforindividuallisteningexperience.ConsiderstylishgreatroomswithfunctionalspacessuchasgamingroomswithWi-Fitoholdsmallbusi-nessmeetingsortosocialize,aswellaspermanentsmallerseatingareas,andabistroorcafébar.
#� She-Economyvs. Man Cave
Looktothenewmajorityofbuyersandrenterswhenitcomestodesigning,selling,and marketing. During thepre-renovation stage takeinto consideration that thistargetmarketisgrowinganddetermine how you can bebetterprepared.
Considerthe“she-economy”who are seeking a certainlifestyle environment thatincludes upgrading closetswith shelving systems, updatedkitchenswithstorage,sleekbaths,security,fitnesscenter, and pleasing curbappeal.Researchhastoldusthatalargenumberofmaleprospectsseekhelptoqualifywhatcommunitytoliveinbygettingtheadviceofafemalefriend.
On the other hand, the“ManCave”isaperformancedriven environment for allof his large and numerouselectronictoys.
Advanceyourcommunity’sposition by exploring all oftheoptionsandcostsprovid-ing yourself and your pros-pectsagreaterperspective.
Catherine Daly, presi-dent and founder, along with her experienced and dedicated team of design professionals are known for their integrity and results driven approach to project management and design implementa-tion. n
Cathie Daly
www.marejournal.com Mid AtlanticReal Estate Journal — NJAA CoNfERENCE & Expo — May 11 - 24, 2012 —1�C
NJAA CoNfereNCe & expo
Getting a commercial real estate loanis anything but easy.
Unless your bank is Regal.
www.regalbanknj.comEqual Housing Lender.Equal Opportunity Lender.Member FDIC
570 W. Mt. Pleasant AvenueLivingston, NJ 07039
973-577-7160
504 S. Livingston AvenueLivingston, NJ 07039
973-577-7161
180 Eagle Rock AvenueRoseland, NJ 07068
973-228-3951
30 Columbia TurnpikeFlorham Park, NJ 07932
973-210-4115
Before you can broker the deal, you need a bank who understands the commercial real estate business and canmake the lending process easier. That bank is Regal Bank, and we’re ready to help get the loan you need.
Talk to us. Instead of concentrating on the loan, you can focus on the deal.
IVINGSTON,NJ—Re-gal Bank recently ap-pointedLivingstonresi-
dentE.Chris-tinaSlaterasregional VPo f i t s fourbranch loca-tions. In thisrole,Slaterisresponsibleformanagingthe adminis-tration andefficientoperationofthebank’sfull-service branches, includ-ing operations, product sales,customer service, security,andsafety,inaccordancewithRegal’sobjectives.
Priortoassumingthisrole,Slater–whohasbeenwiththebank since it opened its firstlocationin2007–wasbranchmanager and vice presidentat the bank’s two Livingstonlocations. In addition to itsLivingstonbranches,RegalhasoneofficeeachinRoselandandFlorhamPark.
“BeingapartofRegalBank’srapid growth during the pastfiveyearshasbeenanhonor,”says Slater.“I’m excited andextremelyhumbledtotakeonthesenewresponsibilitiesandIlookforwardtohavingavitalrole in the bank’s continuedsuccess.”
Slater ’s extensive experi-ence and training includescertifications in commercialandconsumerlending,legales-sentialsforlenders,managingproblem loans, and advancedloan documentation. She ac-tivelyparticipatesinthebank’scomprehensive communityinvolvement initiatives andvolunteersattheKiwanisClubofLivingston.
Inothernews,two-timeU.S.Presidential candidate SteveForbes, the current chair andeditor-in-chief of Forbes Me-dia,wastheguestspeakeratarecentRegalBankbreakfastevent. Held in the Westmin-ster Hotel in Livingston, thenetworkingsessiondrewaca-pacitycrowdofmorethan350attendees, all of whom wheretherebyspecialinvitation.
Forbes, who spoke and an-sweredaudiencequestionsfora totalof45minutes, focusedon economic matters, with aparticular emphasis on theneed for thenation’seconomytofurtheraccelerate.Infact,heincorporated a superhighwayanalogyintohisremarks.
“Mr.Forbesisanexceptional
Steve forbes speaks at networking event
Regal Bank appoints Slateras regional vice president
L speaker,andmanyofthoseinattendance commented to mejusthowinterestingandvalu-abletheyfoundhisperspectivetobe,”saidRegalBankChair-man David Orbach. “Overall,thiswasaterrificevent-- it’salways a pleasure to spendtime with our customers andprospective customers. Peoplearealreadylookingforwardtoournextevent.”
The two-hour Regal Bankeventwasspecificallydesignedto provide customers, as wellas business and communityleaders,anopportunitytomeetand establish connections. It
was an opportunity for thebanktothankitslong-standingsupporters.AttendeeswereonhandfromthroughouttheNewYork/NewJerseymetropolitanarea.
“Eventslikethisonecanbeextremelyvaluableintermsofmaking new contacts -- but Ihadnoideathere’dbeaturnoutof this magnitude,” observedAl Fontanella, partner in theTotowa-basedaccountingfirmFontanella&Babitts.“Itwasanexcellentinvestmentofmytime,andI’mlookingforwardto Regal sponsoring similar,follow-upevents.”n
Christina Slater
Shown from left: Dan Tower, Regal Bank executive vice president and CFO; Tom Lupo, Regal Bank president; Steve Forbes; and David Orbach, Regal Bank chairman
1�C—May 11 - 24, 2012 — NJAA CoNfERENCE & Expo — Mid Atlantic Real Estate Journal www.marejournal.com
NJAA CoNfereNCe & expo
In today’s real estate market, you need a CPA Firm that knows your industry inside and out. That’s why
WithumSmith+Brown has become one of the premier names among CPA firms in the industry. For over 35
years, we’ve provided proactive solutions, expert advice and customized service to help real estate businesses
thrive. So, whether you are a real estate developer, property owner/manager or an organization that requires
specialized reporting, large or small, our Real Estate Services Group can help put you in a position of strength.
nvestorsBank,headquar-teredinShortHills,NewJersey, is a full-service
communityb a n k t h a th a s b e e nserving cus-tomers since1926.
With $11.3billion inas-setsandover85 branchesstrong, Investors providescommercialloansofupto$30million. Its expanding com-mercial real estate financing
A full-service community bank
Investors Bank has beenserving customers since 1�2�
includesapartmentbuildings,multi-family residential proj-ects, warehouses, office andindustrial buildings, retailcenters and mixed-use prop-erties.
Investors’ commercial realestate loan offices in ShortHillsandSpringLakeHeights,New Jersey and midtownManhattan provide financingforproperties inNewJersey,Pennsylvania, Connecticut,Delaware,andNewYork, in-cluding NewYork City’s fiveboroughs.
Investors also provides de-
posit and escrow servicesfor real estate managementorganizations, professionalservicesfirms,municipalitiesandsmallandmiddlemarketcompanies.
TheBankoffersavarietyofloanoptionstomeettheneedsof the business community.OurLendingteamsaremadeupofexperiencedprofession-alswhocanmakespeedydeci-sionstomeetyourborrowingneeds.InvestorsBankhasthe15thlargestmultifamilyand46th largest commercial realestate loan portfolios in the
country.If you have any questions
about your commercial lend-ing needs, please call one ofthe three followingInvestorsBankLenders,dependingonyourregion:
Southern New Jersey andPhiladelphia: George Camp-bellattheSpringLakeOfficeinSpringLakeHeights,NJ.
Northern New Jersey andEaster Pennsylvania: BertOwensattheShortHillsOf-ficeinShortHills,NJ.
NewYorkandConnecticut:MarcKatzat the NewYork
CityOfficeinNewYork,NY.Rich Spengler is executive
Vp and chief lending officer of Investors Bank. n
Rich Spengler
I
MONROE,NJ—NewJer-seyApartmentAssociation’s(NJAA) 23rdAnnual Confer-ence and Expo will be heldfromMon.,May21sttoWed.,May23rdattheAtlanticCityConventionCenter.TheCon-ference and Expo will openwithagolfoutingatBallamorGolfClubinEggHarborTown-ship on Monday morning tobenefit the NJAA CharitableFund.ThePresident’sRecep-tion, which will be held at 7p.m.attheNJAAhosthotel,TheBorgata(ticketsrequired)willserveasthekickofftotheconferenceandwillhonornewPresident, Brent Kohere ofHomeProperties.
Thisyear’sconferencefea-tures two keynote speakers,oneoneachdayoftheconfer-ence(Tues.&Wed.):
• Public speaker, advisor,author and entertainer Gar-risonWynnwillpresentTues-day’s keynote. Wynn has abackgroundinmanufacturing,entertainment, telecommuni-cations,andfinancialservices.At age, 27 he became theworld’s youngest departmentheadinaFortune500compa-ny’shistory,andasateenheworked with Magnavox andbaseball legend HankAaronto promote the world’s firstvideogamingsystem.Wynn’sclientsincludeBoysandGirlsClubs ofAmerica, MercedesBenzandLockheedMartin.
• Magician, mentalist andcomedian Jon Stetson willpresentWednesday’skeynote.Stetsoncreatesanentertain-ing and educational act thatwillcertainlykicktheconfer-enceoffontherightnote.Hehas more than 25 years ofpublic speaking experiencewithgroupsoffiveto5,000andhas worked with companiesincludingAmerican Express,Hasbro,Target,SmithBarneyandAppleComputers.
Brent Kohere, president ofNJAA, commented on thisyear’s Conference and Expo,“Formorethantwentyyears,our conference has providedthe multi-family industryopportunities to learn andgrow.n
NJAA to provide laughs and education at May expo
www.marejournal.com Mid AtlanticReal Estate Journal — NJAA CoNfERENCE & Expo — May 11 - 24, 2012 —1�C
NJAA CoNfereNCe & expo
B&H Security, now in its 33rd year of business is a full service security
integration company. We install and service a wide range of CCTV, Access
Control, Burglar and Fire Alarm Systems as well as Gate Arms using the latest and
most innovative technologies.
Our installation and service technicians are available 24 hours a day 7 days a
week to service our clients. Our approach is to position our technicians
strategically throughout New Jersey and the Metro New York area to provide
prompt and effective response to any of your security needs.
800-287-0074www.bhsecurityonline.com
PROVIDING PEACE OF MIND
...through comprehensive security and life safety solutions! 800-287-0074
WWW.SIGNCH.COM
CouldThis Be
YourNext
Tenant?
TenantSafe's SmartSCREEN™ technology is your one source solution for better resident retention, from managing leads to online applications to screening
and management reports. Call us today at 800-498-3200
www.tenantsafe.com
Falcon Energy Consultants, LLC
A Division of The Falcon Group
682 Highway 202/206Bridgewater, NJ 08807Phone: 908-595-0050
Fax: 908-595-0012
www.falconengineering.com [email protected]
Trusted Advisor ServicesIntegrated delivery framework for building operations, energy efficiency (EE), and renewable energy (RE) projects.
Guide Clients through complex, pivotal decisionsEE/RE programs on scheduleWithin budgetVerified savings on target
Master PlanningResearch and DevelopmentPrototyping, Testing and TroubleshootingField Survey HVAC ControlsBenchmarkingEnergy AuditsEnergy ModelingEnergy MeteringRenewable Energy StudiesEnergy RebatesEnergy Financing
Our energy expertise includes mechanical engineering, architecture, design, and construction management. Our experience spans commercial, industrial, government and residential projects. Our experts are innovative, practical and detail-oriented, yet they simplify issues with clear language and reports to clearly present project benefits and decisions.
Enhance Building Performance.Conserve Resources.Protect your Investment.
®
Experience our commitment.
Professional Services Include:Energy Information SystemsEnergy DashboardsMEP Analysis and DesignSolar Energy DesignLife Cycle AssessmentDesign and Construction ServicesOperations and MaintenanceMonitoring and VerificationGreen Buildings Claims AvoidanceTesting, Adjusting and BalancingCommissioningTraining and Documentation
20C—May 11 - 24, 2012 — NJAA CoNfERENCE & Expo — Mid Atlantic Real Estate Journal www.marejournal.com
NJAA CoNfereNCe & expoBy Mark Gentile, NWp Services Corporation
Creating a standard rating system for measuring utility performance within the multifamily industry W hy haven’t we
developed and adopted a rating
system for measuring util-ity performance within the multifamily industry?Afterall, we already evaluate ourcommunities comparing met-rics such as occupancy ratesandrents.ENERGYSTARhasdoneanexcellent jobofcreat-ingratingsystemsforbuildingtypes including the obviouscommercial and data centers,hospitals and supermarkets,aswellasthosenotsoobviousas dormitories and houses ofworship.
Is it the complexity of mul-tifamily product and mar-ket? If rating systems can be created for dorms and hotels, what is the delay?
Recently,theEnvironmentalProtectionAgency (EPA) an-nounced a new program thataffects high rise multifamilypropertiesthatareeithernewor substantially rehabilitated.The designation, however, ap-pears to be tied to buildingstandardsversusactualenergyperformance.Thisapproachisdifferent from the traditional
rating system which is basedon relative efficiency versussimilarproperties.
Does multifamily want a formal rating system? Itdepends on who you ask. InresearchingthistopicIreceivedscoresofconflictingopinions.
Ononeextreme,anancillaryincomemanager fromaREITwas certain that the adoptionofsuchasystemformultifam-ily would be a waste of time,providing “zero value.” Theargumentisthatownersshouldmake“greenchoices” fortheirownbenefit;toloweroperatingexpense and attract green-minded residents ultimatelyincreasingoperatingincome.
ButIalsoheardtheothersideof this argument. Multifamilyowners and operators need aformalratingsystem,butmay-benotforthereasonsyouthink.Overthepastyears,utilitycostand consumption benchmark-inganddisclosurerequirements
havegainedtractioninSeattle,NewYork,andAustin,tonamea few cities. Regulations andmandatesthatusedtoonlyaf-fectcommercialpropertiesarerapidlymovingintomultifam-ily. Many of said regulationssimply require tracking andsubsequentdisclosureofutilityperformancetothegovernmentand public. But what is the benefit of disclosing perfor-mance if your resident, or prospective resident, can’t discern how the property compares to surrounding communities?
The Seattle ordinance (CB116731) calls for a 20 percentreductioninelectricityby2020.But what if the owner or property management team already “squeezed the juice from that fruit” so to speak and the property is already extremely energy efficient?or is 20 percent enough for another property that has done nothing to lower con-sumption?
The intent behind this or-dinance is to be commended;we all benefit from increasedefficiency and conservation,
but requiring a multifamilycommunitytosimplyreduceitsexistingconsumption,withoutaframeofreference,isnottheanswer.Thisarmchairquarter-backisthefirsttoacknowledgethataperfectratingsystemisnoteasytoconstruct—andper-hapsthatiswhatisdrivingthegrid-lock.Thereareanumerousvariablesmakingtheequation
complicated: unit size, heat-ing and cooling systems/fuels,common area square footage,amenities, etc. However, themultifamily industry is full ofbright individuals who haveproventhatwecancollectivelyengage to agree on standardsthat will ultimately benefitus,aswellastheresidentsweserve.n
Aleadingsupplierofmain-tenancerepairproductsserv-ing themultifamilyhousingindustrywithfourlocationsintheMid-AtlanticandNorth-eastRegion.Foundedover30yearsagoontheprinciplesofproviding excellent servicecoupledwithcompetitivepric-ing, experienced sales staff,corporatepartnerprograms,qualityproductsandunpar-alleledservices.Weareafullline stocking distributor ofPlumbing,Electrical,HVAC,Appliances,Lighting,Locks,
Hardware,Janitorial,Tools,Safety products, and more. Our in-house fabricationand value-added servicesinclude custom countertops,vertical & mini blinds, pa-tio door & window screens,andacustomkeying&lockworkdepartment.Westock,measureandinstallkitchencabinets and vanities andprovidecompleterenovationservices.OurRefinishingDi-visionoffersTub&TileGlaz-inginadditiontoCountertopRefinishing.n
Central Wholesalers serving the multifamily housing industry
®
You are probably hearingmoreandmoreaboutback-flowprevention.Apartments,condomini-ums , f oodes tab l i sh -ments andmost otherpublic andcommercialplaces arebeing tar-getedbylocalwaterdepart-ments over the absence ofbackflowpreventiondevicesin their plumbing systems.Thewaterdepartmentusu-ally gives you 90 days tocorrecttheissuebeforetheyshutdownthewaterserviceand force you into compli-ance.
Backflowisessentiallytheaccidental introduction ofcontaminateddrainagewaterintothepotable(fresh)watersupplyduetoacross-connec-tioninthepipes.Waterde-partmentinspectionscontroland prevent cross-connec-tionsbetweenwatersupplypipes and drainage lines,
By Ray patrick, Instructor/Master plumber
Backflow prevention devicesultimately protecting thepublichealth.Thefactthatcross-connectioncontrolandpublichealthareinextricablylinkedisfundamental.
Backflow prevention de-viceshavetobeinstalledbyapersonwho is certified toinstall and test them. Thetwo most common sourcesof backflow are the doublecheck and the RPZ valve.Thedifferencebetweenthemis theRPZneeds tohaveadrainlineinstalledbecauseitdischargeswaterwhenevera fluctuation of pressure isdetected.
There have been severalnotoriously famous situa-tions of cross-connectionsover the years. The bestknownwastheLegionnairescase in Chambersburg, PAwhere contaminated waterfrom a cooling tower cross-connected to the potablewatersystem.Severalpeoplediedinthatcase.Sincethenseveral other serious caseshavebeendocumented.
Ray Patrick
Iftherewaseveramessagetoshareasa20yearnationalenvi-ronmentalsubjectmatterexpertthe messagethismonthisCover YourOwnAssets;CYOA! En-vironmentalregulations,our govern-mentandourlegal systemare metamorphosing and un-fortunately I am not seeing abeautiful butterfly evolvingfromthecocoon.
Newenvironmentalbillsarebeing presented weekly andmanyarepassingintolaw.NJ’smoldbillwaspassedbytheEn-vironmentalSubcommitteeandseems to be moving forward.Philadelphiajustpassedanewlead-based paint rental lawand Washington DC is aboutto begin enforcement of theirnew lead paint law. This MayNJLicensedSiteRemediationProfessional (LSRP) will berequiredtoensurethatcontami-nated sites are remediated inaccordance with the TechnicalRequirementsforSiteRemedia-tion(NJAC7:26E)andrelatedDEPguidance.
Governmentbudgetcutsanddownsizinghascertainlyslowedenforcementeffortsbutjustlast
Cover Your own AssetsBy Lee Wasserman, LEW Corp.
monthmyofficewasauditedbytheEPA(gladtosaywepassed).Whilebeingauditeditwassug-gestedtousthatweshouldex-pecttoseeanuptickinRegion2EPAauditsandenforcement.
Inadditiontonewlaws,ourownlegalsystemprovidesan-otherexampleoftheimportanceofCYOA.LastmonththerewasanunprecedentedrulingintheNYCcourt.ANewYorkappel-late court overturned a lowercourt ruling, allowing a toxicmold lawsuit to go forward.Forthefirsttime,atoxicmoldcasewas ruled in favor of theplaintiff. This court ruling isapotentialmoldgamechangerandcertainlyshouldstimulateconversation if you want toproperlyCYOA.
So the underlying messageof the environmental meta-morphosis that is occurring isprotect what you have by notletting anyone catch you offguard. This includes our gov-ernment,youroccupants,youremployeesetc.
By performing internal au-ditscoupledwithageneralen-vironmental compliance audityoucanquicklyandrelativelyinexpensively CYOA, insteadoflosingthem.
Lee Wasserman is presi-dent & CEo of LEW Corp. in Mountainside, NJ. n
Lee Wasserman
Onetowndownsouthhada situation where severalhundred people were ad-verselyaffectedbycontami-natedwater.Theillnessanddisease in that case couldhave been prevented if abackflow prevention devicehadbeeninplace.
Allpublichealthmeasuresare focused at controllingdiseaseatitssource,andtheuse of backflow-preventiondevices in controlling andprotectingcrossconnectionsisnodifferent.
Ifyouarenotsureifyourpropertiesareequippedwithproper backflow devices,feel free toemailmeandIwillinspectandsurveytheproperty. I am also avail-abletocomeoutandholdabackflow seminar for yourmanagement or mainte-nancestaff.
Ray patrick, instruc-tor and master plumber, Roto-Rooter. n
www.marejournal.com Mid AtlanticReal Estate Journal — NJAA CoNfERENCE & Expo — May 11 - 24, 2012 —21C
NJAA CoNfereNCe & expo
Building great real estatebusiness matters
Multifamily is a local business, unique tolocation, demographic and type. Optimizing profitability takes individual review and custom-ized planning to deliver top performance.
SmartSource is a one-of-a-kind platform, customized to your specific community and built with one objective: deliver profitability.
SmartSource optimizes your multifamily operations within a single platform of products and services to generate NOI. By targeting and reducing the highest expenses on your multifamily property, SmartSource delivers the greatest impact and sustainable fiscal result.
Unlock the full potential of your multifamily portfolio
your bottom line says so
®
Smart Solutions:Lower Operating and Utility Costs
SM
888.695.6389www.nwpsc.com
C
M
Y
CM
MY
CY
CMY
K
NWP MAREJ43012.pdf 1 4/30/12 4:42 PM
Since 1991LEW Corp.
With A Company You Can TRUST...
Environmental Testing, Training & Remediation
Lead-Based Paint • Mold/IAQ • Asbestos Radon • Site Assessments
When you hire LEW Corporation, you’ve gained a partner...a partner you can TRUST!
www.LEWCorp.com800-783-0567
Protect Yourself From Environmental Issues
BOILER SALES, INSTALLATION, AND SERVICE
ASME CODE WELDING
RETUBING AND REFRACTORY
MECHANICAL PIPE FITTING
POWERVAC BOILER CLEANING
A&S Boiler & Burner1239 Broad Street
Newark, New Jersey 07114(973) 824-1000 (973) 242-4988 Fax
(
22C—May 11 - 24, 2012 — NJAA CoNfERENCE & Expo — Mid Atlantic Real Estate Journal www.marejournal.com
NJAA CoNfereNCe & expo
www.marejournal.com Mid AtlanticReal Estate Journal — NJAA CoNfERENCE & Expo — May 11 - 24, 2012 —2�C
NJAA CoNfereNCe & expo
510 E. Barnard Street , Suite 100 West Chester, PA 19382 [email protected]
P I N C U S E L E V A T O R . C O M 6 1 0 . 7 3 8 . 4 3 5 0
24C—May 11 - 24, 2012 — NJAA CoNfERENCE & Expo — Mid Atlantic Real Estate Journal www.marejournal.com
NJAA CoNfereNCe & expo
WWW.CORBETTEXTERMINATING.COM
Servicing:
New Jersey , New York, Connecticut, Pennsylvania,
Delaware, Maryland, Virginia, Washington D.C., Mississippi
800 888-PEST (7378) telephone 800 889-5455 fax
Corbett Exterminating800 888-PEST (7378) telephone800 889-5455 faxwww.corbettexterminating.comServicing the NJ, NY CT, PA, DE, MD, VA, MSThe “Best” Reputation in the Multi-Housing Industry
SERVICES:B.I.T.E. BACK!BED BUG INTENSIVE THERMAL ELIMINATION
• BED BUG ELIMINATION
• C.E.M.I.TCOCKROACH ELIMINATION
MANAGEMENT INSPECTION AND TREATMENT
• RODENT Cleanouts & PROOFING
• WOOD-DESTROYING INSECT
INSPECTIONS & TREATMENT
Experts in the Art of Elimination
• Vertebrate Animal Control
• Bird Control & Exclusion
ATTENTION NJAA CONFERENCE &
EXPO ATTENDEESGain exposure to over 20,000 readers each month in our Owners, Developers
& Managers Section.
For more information Contact Mike Campisi: 800.584.1062 ext. 208
SEE YOUR NAME IN PRINT ALL YEAR
LONG!
www.marejournal.com Mid AtlanticReal Estate Journal — NJAA CoNfERENCE & Expo — May 11 - 24, 2012 —2�C
NJAA CoNfereNCe & expo
CORP
O-W
RIT
MED
IA /
732.
901.
0617
Call today for a free on-site evaluation!
With today’s energy prices, your boiler can’t afford to be without the EnTech VR-500™ during any season.
And with EnTech’s no-risk Energy Savings Guarantee, there’s never been a better time to consider a VR-500 for every property in your portfolio.
Discover why EnTech’s industry-leading technology has been voted #1 by leading property owners,boiler technicians, and major energy suppliers.
732.730.1595 | [email protected] | www.entechdigital.com
VISIT US AT:
Booth #323
NJAA 2012 Conference & Expo
Back Cover C—May 11 - 24, 2012 — NJAA CoNfERENCE & Expo — Mid Atlantic Real Estate Journal www.marejournal.com
Fast Lending Decisions. Made Locally.
Visit myinvestorsbank.com
We offer a variety of loan options to meet the needs of the business community. Investors Bank has the 15th largest multifamily and 46th largest commercial real estate loan portfolios in the country. Our Lending teams are made up of experienced professionals who can make speedy decisions to meet your borrowing needs. Contact us today.
Richard Spengler Executive Vice President and Chief Lending Of� cer973.924.5245