11-11-11 Mid Atlantic Real Estate Journal by Mid Atlantic Real Estate Journal

REAL ESTATE JOURNAL Vol. 23, Issue 21

Inside:

November 11- 24, 2011

Sections

the most comprehensive source for commercial real estate news

Central New Jersey Project of the Month

Mid Atlantic .......................................................Section A New Jersey ........................................................ Section B Pennsylvania ................................................... Section C

Spotlights / Features Auctions ........................................................................ 4-5A Financial Featuring Lenders Directory.........7-17A Calendar of Events......................................................19A

Target Building Construction served as General Contractor for The Capital Health MOB & Surgery Center project.......................................................................................................................... 8-9B

Swope Lees facilitates $3m industrial building sale

Business Card Directory .........................................21A Tristate Commercial Alliance ......................22-23A BillBoards ......................................................................24A

Columnist Elliott Gansner ................................................................2A

Next Issue

Jim Lees and Chuck Swope of Swope Lees commercial real estate brokerage ﬁrm arranged the sale................................................................................................................................FC-C

Lender’s Directory

November 25, 2011 • Mid Atlantic • Shopping Centers: NY ICSC Deal Making • COM: Parking Lot Maintenance & Subcontractors • Spotlight: Professional Services 3 sections, 72 pages

Bruce Coin Bruce Coin Consulting, Inc.

Sam Berns NorthMarq

Listing Commercial Lenders throughout the Mid Atlantic Region .............................7-17A

A Inside Cover — October 28 - November 10 , 2011 — Mid

Atlantic Real Estate Journal

MAREjournal.com

Multi-talented lenders... For multi-family financing. The current economy has everyone looking for ways to reduce costs. Refinancing your property can make a big difference. At The Provident Bank we make loan decisions locally. Why wait for someone in another state or time zone to review your application, process it and make their lending decision? Our commercial real estate specialists are right here where you are. We can build customized lending solutions to meet your needs and timeline. Custom solutions, local decision-making, quick turnaround – call us today and experience the Provident difference. For more information contact Patti Patriarca, SVP patricia.patriarca@providentnj.com 732.726.5516

$8,000,000

Multi-Family Complex Whitehall, PA

$11,500,000

Multi-Family Complex Princeton, NJ

$10,000,000

Multi-Family Complex Long Branch, NJ

$22,000,000

Multi-Family Complex Arlington, NJ

$12,000,000

Multi-Family Complex Englishtown, NJ

www.ProvidentNJ.com

Equal Opportunity Lender Equal Housing Lender Member FDIC

MAREjournal.com

Mid Atlantic Real Estate Journal — November 11 - 24, 2011 — A

2A â&#x20AC;&#x201D; November 11 - 24, 2011 â&#x20AC;&#x201D; Mid

Atlantic Real Estate Journal

MAREjournal.com

Mid Atlantic

They wrote the policy.

Mid Atlantic REAL ESTATE JOURNAL

Real Estate Journal

Publisher ............................................................................Linda Christman Co-Publisher .........................................................................Joe Christman

Section Publisher ..............................................................Michael Campisi

We make sure they write the check.

Section Publisher ................................................................ Elaine Fanning Senior Editor/Graphic Artist ................................................ Karen Vachon Production Assistant ........................................................ Rachel Rugman

OfďŹ ce Manager ...................................................................Joanne Gavaza Editorial Consultant ............................................................. Ben Summers Mid Atlantic REAL ESTATE JOURNAL ~ Published Bi-Monthly

By Elliott Gansner

P.O. Box 26 Accord, MA 02018 (Mail)

Solar Power, An Increasingly Smart Investment

M. MILLER & SON Public Adjusters

Since 1960

1211 Liberty Ave., Hillside, NJ 07205 ďż˝ Tel: 908-355-4800 adjuster@mmillerson.com ďż˝ www.mmillerson.com

CUSTOMER SERVICE REP NEEDED

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

s a commercial property owner or developer, the hardest choice to make when it comes to solar is not deciding if installing a solar system is a sound investment. That decision is becoming easier as solar power is an increasingly smart investment. In addition to state and federal incentives that can decrease the payback period to a matter of a few years in many cases, commercial property owners who install solar save thousands of dollars a year on electricity costs and make their properties more attractive to potential tenants and buyers. But just as the decision to install a solar system has grown easier, the decision regarding the type of solar module to install has become more difficult. The rapid proliferation of solar component manufacturers has created an increasingly crowded market in which understanding the differences between different components is ever more time-consuming

USPS #22-358 | Vol. 23 Issue 21 Subscription rates: $99 - one year, $198 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY

MARE Journal will not be responsible for more than one incorrect insertion Toll-Free: (800) 584-1062 | MA: (781) 871-5298 | Fax: (781) 871-5299 www.marejournal.com

The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal

and laborious. One huge segment for solar within real estate is commercial rooftops. In NJ alone, there are more than 350,000,000 square feet of office space and an even greater number of square feet of warehouses and shopping malls, representing a huge market opportunity for solar. As a result of the installation of solar on the rooftops of commercial buildings, New Jersey has the second highest installed capacity of solar in the nation, but the potential has hardly been tapped. As New Jersey property owners continue to go solar in larger numbers, they will need to be able to un-

derstand the complicated solar module market. According to ENF, a market research firm, there are over 1,000 manufacturers of solar modules worldwide offering not only different types of modules, but also different types of technologies ranging from crystalline silicon to thin-film to concentrated photovoltaic (CPV). To further complicate matters, solar project developers have to ensure that the panels they buy fit with racking systems and roof types. For commercial property owners and contractors, the solar module decision can be continued on page 20A

Experience Counts. Count On Us. Kaplin Stewart Attorneys at Law

2EAL ESTATE LAW FROM THE GROUND UP Contact: NEIL A. STEIN (ARVEST $RIVE "LUE "ELL 0! s s www.kaplaw.com Other Offices: s #HERRY (ILL .* s 0HILADELPHIA 0! KS Ad 6x5.5 BW Bulb.indd 1

10/10/11 3:41 PM

MAREjournal.com

Mid Atlantic Real Estate Journal — November 11 - 24, 2011 — A

Mid Atlantic Real Estate Journal By Jeannine Bishop and Brad Molotsky

Green bldg. retrofits: Federal & State incentives

ave you contemplated retrofitting your existing space to create a more energyefficient or LEED-certified work environment? If so, you have likely reviewed the costs associated with Jeannine Bishop sustainability type retrofits, which can be tough to justify or, once justified, just plain tough to fund. There are, however, several federal and state incentives available to offset some of these costs. As you may be aware, U.S. commercial buildings use 72% of the electricity, 55% of the natural gas, and 40% of primary energy consumed in the country (see S. 1000, The Energy Savings and Industrial Competitiveness Act of 2011 (ESIC)). As a result, a variety of federal, state, and local incentives are, and have been, available to encourage commercial property owners to maximize the efficiency of their buildings. Federal Incentives When searching for available federal incentives, look first to Section 179D of the Internal Revenue Code (Code). Section 179D allows for deductions with respect to costs for certain types of energy-efficient equipment and systems placed into commercial buildings before January 1, 2014. It also allows for partial deductions for energy-saving systems that reduce energy consumption by at least 16–2/3%. Energy-efficient equipment and systems include equipment installed as part of the interior lighting systems, HVAC, or the building envelope as part of a plan to reduce energy consumption. In addition to partial allowances for specific, high-efficiency building systems, Section 179D provides for a maximum deduction of $1.80 per square foot if a retrofit is designed to achieve efficiencies by 50% above ASHRAE 90.1 standards as set forth in the Code—a level that rarely has been achieved. There are key proposed changes to Section 179D under discussion in Washington, D.C. For example, there is talk of modifying Section 179D to permit real estate investment trusts (REITs) (which cannot effectively use the deduction

currently permitted under the Code) to more appropriately utilize this Section of the Code. In addition, there are other changes under discussion that would allow owners/tenants to obtain portable, asBrad Molotsky signable deductions for improving substantial space within a building (even if the entire building is not improved). Moreover, while the ASHRAE 90.1 standard is

a worthy energy code standard, permitting a building to qualify for the deduction if it improves its energy efficiency above its current baseline could also give various owners/occupiers incentive to utilize Section 179D to upgrade the efficiency of their space, thereby putting additional workers to work in this arena. As discussed earlier, there is additional federal legislation that addresses energy-efficiency upgrades to existing buildings (i.e., ESIC). This legislation would include a Department of Energy loan continued on page 20A

HERCMAN PROPERTIES Class ‘A’ Buildings with Class ‘B’ Prices • Mercer County, New Jersey • Office / Medical / Retail • Square Feet 1,000 – 45,000 • Competitive Rates • Ample Parking • Plug and Play Space Available

University Office Plaza II

• Close to Major Mercer County … Hospitals • Family Owned and Operated Contact Steven Hercman 609-689-4670 stevenh@hercproperties.com

Van Nest Office Park

Greg Pine, Broker-Salesperson Senior Vice President Gebroe-Hammer Associates

2 West Northfield Road, Livingston, NJ 07039 (973) 994-4500 | Fax: (973) 994-9752 | gpine@gebroehammer.com

6A — November 11 - 24, 2011 — Mid

Atlantic Real Estate Journal

MAREjournal.com

THINKING OF SELLING? CALL US — THEY DID! D L O

SOLD

Whether you’re a buyer or seller We can make your dream come true

GERBER/SOMMA Associates

SPECIALISTS • INVESTMENT REAL ESTATE 210 RIVER STREET • HACKENSACK, NJ 07601 • (201)

www.gerbersomma.com

646-1234

Mid Atlantic Real Estate Journal

Financial Digest Featuring Lender’s Directory

MAREjournal.com

Mid Atlantic Real Estate Journal — November 11 - 24, 2011 — A

DesRochers and Polizzo orchestrates $7.5 million mortgage

Berns of NorthMarq Capital arranges $18.885 million mortgage

over, De — Sam Berns, senior vice president and managing director of NorthMarq Capital’s (NorthMarq) Upstate New York Regional office arranged first mortgage Sam Berns acquisition financing in the amount of $18.885 million for Eagle Meadows, a 294-unit multifamily complex located at 4666 Carolina St. Financing was based on a 10-year term with two years interest only then a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its affiliate AmeriSphere Multifamily Finance, LLC, a Fannie Mae DUS lender. According to Berns, the financing represented the

4666 Carolina Street acquisition of a recently re- York City office arranged first positioned military multi- mortgage financing of $7.5 family housing development. million for The Home Depot, He stated, “AmeriSphere a 130,000 s/f retail property creatively structured around located on West Patrick St. in Frederick, MD. This asseveral title issues.” Deanna Polizzo vice presi- set is well-located in an area dent, and Ernest DesRo- known as the “Golden Mile” chers, senior vice president retail corridor. It’s the region’s and managing director, of largest concentration of retail NorthMarq Capital’s New space along a 3-mile stretch

Hudson Realty Capital funds $8 million note acquisition financing BROOKLYN, NY — Manhattan-based Hudson Realty Capital LLC has funded $8 million in note acquisition financing secured by the debt on four industrial buildings, located in the W i l l i a m s - Spencer Garfield burg section of Brooklyn. The company has been active in providing note acquisition financing nationwide, with an emphasis on the New York-metropolitan region. “Note acquisitions are inherently dynamic and complex transactions. Hudson was able to provide a creative, flexible structure that allows the sponsor to effectuate the business plan,” said Spencer Garfield, managing director. In addition to note acquisition financing, Hudson also is targeting new loan origina-

tions, DPO and DIP financing, good bank/bad bank and general partner recapitalizations as part of its Debt Program. Currently, the company has more than $2.5 billion of assets under management and has closed more than $3.5 million in transactions since the formation of its initial two funds in 2003. Hudson also is active in large loanportfolio acquisitions and asset management activities, the latest of which involved the purchase of a Colorado portfolio of 97 acquisition, development and construction (ADC) loans as part of an FDIC-structured sale. Hudson has funded a $5 million bridge loan for the purchase of 38,805 s/f of retail condominium space in Brooklyn. The borrower’s business plan entails leasing the balance of the available commercial space. “Hudson was able to achieve a strong risk-adjusted return when the borrower came to us

for speed and surety of execution,” said Spencer Garfield, managing director. “Hudson closed in four days to satisfy the borrower’s time-of-essence to close.” The downtown Brooklyn property is comprised of four separate ground-floor retail units that collectively make up two condominium buildings. Of the total 38,805 s/f of retail space, approximately 9,400 s/f is vacant. Hudson has funded a $5.65 million DPO loan for a 14,000 s/f mixed-use loft building in New York City. The sponsor is utilizing the proceeds to refinance and renovate the five-story building located in the heart of the city’s Tribeca neighborhood. “This loan exemplifies a prevailing need for rescue capital among borrowers seeking to purchase their own debt back at a discount,” said Spencer Garfield, Hudson’s managing director who oversees the company’s originations. n

The Home Depot of US 40. further support the property According to Polizzo, The when completed. Financing Home Depot serves as an for this transaction was based anchor to the 602,000 square on a 20-year term and a 20foot Frederick Towne mall year amortization schedule along with Boscov’s Depart- and was arranged for the ment Store and Hoyt Cinema. borrower, Golden Mile Real The Mall is in the final stages Estate LLC, by NorthMarq of planning for redevelopment through its correspondent which should add other big- relationship with ING Investbox retailers to the area and ment Management. n

Cronheim Mortgage arranges $4.865 million financing Manhattan, NY — Dev Morris and Andrew Stewart have arranged a $4.865 million loan secured by a 13 unit property with two storefronts in Manhattan. It is on the south side of 29th St. between Second and Third Avenues. The 10-year loan has a fixed interest rate of 4.50% and amortizes over 30 years. The loan represents 70% of the $6.95 million purchase price The building is a 25 ft wide five story plus basement walk-up apartment building totaling 9,460 s/f. Two of the 13 apartments are rent controlled. The balance of the units are renovated two bedrooms with new hardwood floors, marble tiles in the bathrooms, granite countertops and new appliances including dishwashers in the kitchens and washer/dryers. The two stores are a salon and a dry cleaner who have been in occupancy for many years. Janet Proscia, managing director of David Cronheim Mortgage Corp., is pleased to

announce the completion of two medical office financing transactions. The client was seeking to raise proceeds sufficient to retire existing debt on its 22,000 s/f, East Brunswick, NJ medical arts building, and reduce its level of recourse at the same time. Proscia stated that the $3.7 million, 5-year fixed rate loan was consummated with a regional bank at a very high loan to value ratio with only minimal top level recourse required. “This client was extremely pleased to have satisfied its financing objectives, as was I” Mrs. Proscia said. In another medical office building transaction located in Old Greenwich, CT, the client needed a short term, floating rate loan to maximize flexibility in the event of asset disposition in the next one to two years. Proscia said, “The challenge here was 25% vacancy and lease roll in a couple of years for another 25% of the property.” n

8A â&#x20AC;&#x201D; November 11 - 24, 2011 â&#x20AC;&#x201D; Mid

Atlantic Real Estate Journal

MAREjournal.com

lendeRâ&#x20AC;&#x2122;s diRectoRy By Bruce Coin, Bruce Coin Consulting, Inc.

The Current Commercial Mortgage Market

he commerce Department reported that the nationâ&#x20AC;&#x2122;s output of goods and services grew at an annual rate of 2.5 percent from July to September, almost double the rate of Bruce Coin the previous quarter. The Institute for Supply Management reported that economic activity in the manufacturing sector expanded in September for the 26th consecutive month.

Its ISM Manufacturing Index rose to 51.6 percent in August, an increase of 1 percent. September retail sales increased 1.1 percent. September durable goods orders, excluding aircraft, rose by 2 percent indicating that business capital spending increased significantly. The Census Bureau also reported that construction spending, while down overall for the first eight months, rose in August by about 1.4 percent over the July estimate and by about 0.9 percent above last yearâ&#x20AC;&#x2122;s estimate. This all points to economic

growth that, while not dynamic, is sustained. Accordingly, there will be no double dip recession. Global investors are increasing their acquisitions of high quality commercial real estate. Questions about CMBS ratings and Greeceâ&#x20AC;&#x2122;s economic fortunes reduced their interest in CMBS causing rate spreads to rise and volumes to decline. It appears that this will continue for some time. We now have a new MBS rating agency on the scene, Morningstar and as the European Bankers have reached agreement to

stave off Greeceâ&#x20AC;&#x2122;s economic catastrophe I look for them to start reinvesting in the MBS market. In the interim, for the first time in years, insurance companies and commercial banks are enjoying a real competitive advantage over conduit and investment bank lenders. They are only financing high quality commercial properties as they can offer the lowest long term fixed rates, often in the low 4s for a 10 year balloon term with 25 (preferred) and 30 year amortizations. LTV ratios up to 75 percent are available with 70 percent

Need commercial mortgage help? If you are a lender, attorney, developer or realtor, we can provide it. Education

Webinars, classrooms and eLearning Custom and off-the-shelf programs Topics

Â&#x2021; $QDO\]H 8QGHUZULWH DQG 9DOXH ,QFRPH 3URSHUW\ (apartments, office, retail, industrial flex, other) Â&#x2021; ,QFRPH 3URSHUW\ /HDVH $QDO\VLV Â&#x2021; 'LUHFW &DSLWDOL]DWLRQ DQG <LHOG '&) &DSLWDOL]DWLRQ Â&#x2021; 7\SLFDO 0RUWJDJH &RPPLWPHQW &ODXVHV Â&#x2021; &RQVWUXFWLRQ /HQGLQJ %DVLFV Â&#x2021; 6WUXFWXULQJ -RLQW 9HQWXUHV DQG 3DUWLFLSDWLQJ 0RUWJDJHV Â&#x2021; )LQDQFLQJ 3URSHUWLHV ZLWK 3ULRU *URXQG /HDVHV Â&#x2021; 1HW /HDVHG 6LQJOH 7HQDQW &UHGLW )LQDQFLQJV Â&#x2021; &UHGLW DQG 1RQ &UHGLW 7HQDQW )LQDQFLDO 6WDWHPHQW $QDO\VLV Â&#x2021; &RPPHUFLDO $SSUDLVDO 5HYLHZ

Expert Services

Â&#x2021; ,QYHVWLJDWLYH UHSRUWV Âą DSSUDLVDO UHYLHZV Â&#x2021; &RQVXOWDWLRQ DQG FDVH DQDO\VLV Â&#x2021; 'HSRVLWLRQ DQG FRXUW WHVWLPRQ\

brucecoin.com (856) 906-8240

Bruce Coin is the former co-founder and CEO of Pro-gressive Mortgage Corp. He is an acknowledged commercial mortgage financing and property valuation expert with over 40 years of experience. He has lectured to classes of the University of Pennsylvaniaâ&#x20AC;&#x2122;s Wharton School, and has written for, taught, and addressed many special interest groups including banks, law firms, appraisal organizations, commercial real estate organizations and private real estate companies. He is an IDECC Certified Distance Education Instructor (CEDI) and has written numerous courses about commercial real estate, finance and appraising. Bruce currently holds Certified General Real Estate Appraiser certificates in PA, NJ and CA.

or less preferred depending upon property type. Some loans can obtain sub-4 percent rates. Smaller loans being funded by local banks may still be priced between 5.5 and 6.0 percent. Commercial banks and â&#x20AC;&#x153;the agenciesâ&#x20AC;? can go to 80 percent LTV for apartment loans. With exception a 1.25 times debt service coverage appears to be the minimum â&#x20AC;&#x153;normâ&#x20AC;?. The relatively new â&#x20AC;&#x153;debt yield ratioâ&#x20AC;? factor is now often also being used for underwriting. The debt yield ratio is derived by taking the propertyâ&#x20AC;&#x2122;s N.o.I. and dividing it by the loan amount (times 100) to reflect the overall cash on cash yield a lender would get if they immediately foreclosed. E.g., a property underwritten with a $1,000,000 N.o.I. and new mortgage of $11,500,000 would have a loan yield factor of 8.696 percent. Credit financing rates are also very good noting a recent 16.4 year self-liquidating loan that was closed for an â&#x20AC;&#x153;Aâ&#x20AC;? rated tenant leased building with a fixed rate of 4.16 percent and based on a 1.05 time debt service coverage ratio. The lesser quality and tertiary market properties are currently suffering as a â&#x20AC;&#x153;flight to qualityâ&#x20AC;? still prevails. Ultimately their financing should fall to the CMBS market as their borrowers will be forced to pay the higher rates presently required by CMBS investors. The benefit of CMBS financing is that the total debt can exceed 75 percent LTV by adding the mezzanine piece not permitted by insurance companies and banks. History has shown that a borrower will pay the higher rate if they can obtain the total financing dollars they are seeking. As predicted, the low interest rates are helping to compress cap rates. Many office and industrial buildings now can support cap rates of 7.5 to 8.0%. Lower overall cap rates are being applied to other property types depending up location, occupancy, market conditions, borrower capability and other factors. Similar to the economy sustained improvement in the commercial mortgage market is in evidence. Bruce Coin is director of Bruce Coin Consulting, Inc. n

MAREjournal.com

Mid Atlantic Real Estate Journal — November 11 - 24, 2011 — 9A

10A — November 11 - 24, 2011 — Mid

Atlantic Real Estate Journal

MAREjournal.com

lendeR’s diRectoRy By Sam Berns, NorthMarq

ew York City’s Chelsea Pier 60 was the site of this year’s ICSC and NAIoP sponsored Capital Market Place Conference. The conference was attended by real estate owners, lendSam Berns ers and investors from across the country. The conference focused on the current economy and market outlook for commercial real estate. In addition, the conference concentrated on current

2011 Capital Market Place Conference

views from an executive suite perspective, the changing debt landscape, structured finance and joint ventures, investment funds and current issues in Commercial Mortgage Backed Securities (CMBS) maturing debt and loan sales. Peter Linneman, Ph.D. moderated the executive suite discussion. Dr. Linneman, in addition to being a principal in Linneman Associates, is a professor of Real Estate, Finance and Business Public Policy at the Wharton School of Business at the University of Pennsylvania. Kenneth Bernstein from Acadia Realty Trust

along with Alex Klatskin of Forsgate Industrial Partners, Jeffrey olsen from Equity one and Scott Rechler of RXR Realty discussed deal flow and assessed providers of capital. Some panel members believe that commercial real estate has found a bottom, while others contend the market is bifurcated. NY, Washington DC and Miami on the east coast along with San Francisco and Los Angeles on the west coast portray quite a different picture than the rest of the country. Shawn Rosenthal, principal of The Ackman Ziff Real Estate Group in NYC moderated

the Changing Debt Landscape segment. Jeff Fastoff from Credit Suisse, David Gray of DRA Advisors, LLC, Jeffrey Wiseman of Macquarie Capital along with Timothy McGinnis from New York Life Investment Management discussed parameters for permanent, bridge and construction lending heading into 2012. Fastoff commented that CMBS has had stress in the current market and that pricing is choppy with spreads ranging from 130 basis points over swaps to 300 basis points over. Wiseman reiterated the struggles surrounding risk assessment of exit strategies.

Success is a done deal. $18,855,000 Eagle Meadows

MULTIFAMILY - 294 UNITS FANNIE MAE LOAN DOVER, DE

$6,550,000

Woodbine Warehouse INDUSTRIAL - 200,000 SF PERMANENT LOAN SYRACUSE, NY

$13,300,000

The Crossings Shopping Center - 200,000 SF PERMANENT LOAN ELKVIEW, WV

$7,500,000

Med Center West MEDICAL OFFICE - 85,000 SF PERMANENT LOAN CAMILLUS, NY

Capital Markets DEBT | EQUITY | INVESTMENT SALES

Upstate New York Office 1800 ONE HSBC PLAZA ROCHESTER, NY 14604 585.262.2100

SAM BERNS | MICHAEL JAMES | SCOTT DEVINNEY

northmarq.com

32 offices coast-to-coast

McGinnis remarked that life companies are holding up well and continue to view commercial real estate as an attractive investment. Commercial real estate yield average 100 to 200 basis points higher than corporate bonds. Gray was surprised at the quick resurgence of CMBS in the beginning of 2011. Gray pointed out the relative ease of completing CMBS transactions earlier in the year and the difficulty surrounding CMBS over the last few months. Are we now experiencing CMBS 3.0? Timothy Zietara, Senior VP and portfolio manager for Torchlight Investors (formerly known as ING Clarion Capital), moderated the structured finance discussion at the conference. Zietara also is an adjunct professor at New York University. Zietara was joined by John Garth of Pembrook Capital, Christopher Linkas of Fortress Investment Group, George Perry of Malkin Investments, LLC and Brad Wildauer from AREA Property Partners. The panelist discussed the role opportunity funds, investment funds and mezzanine funds have in the current commercial real estate marketplace. The focus of several panelists centered on deals in the largest MSAs. one panelist stated “I would rather do one deal in NYC than ten deals in Pittsburgh”. other panelists suggested that yields are to be found in other areas such as multi-family properties in Texas. Mezzanine rates are ranging from 12-15% for office properties in strong markets and 9-12% for multi-family. Based on the tone of the panelists, I doubt very much if institutional mezzanine money will find its way into Upstate New York. In the Joint Venture segment, Kenneth Bernstein, CEo of Acadia Realty Trust, moderated the panel. Bernstein, formerly with RD Capital and the Battle Fowler New York law firm, is a graduate of the University of Vermont and Boston University School of Law. Joining Bernstein were Joshua Kagen, managing principal of West Ridge Realty Advisors, Peter Falco, Coo of Rockwood Capital, and Ben Gifford, Real Estate chief investment officer for JP Morgan Investment Management. Each of these institutions are leading players in the joint venture arena. They discussed their appetite continued on page 20A

MAREjournal.com

Mid Atlantic Real Estate Journal — November 11 - 24, 2011 — 11A

Lender’s Directory Regional Capital Group

Case Study: Bridge and mezzanine funding for a portfolio of 10 multifamily properties

egional Capital Group (RCG), is a direct real estate lender, investor, fund manager and advisory company specializing in multifamily transactions. As the multifamily industry continues to improve, RCG is providing funding solutions for multifamily investors. A recent example of a transaction that was closed by RCG is a $17 million dollar bridge and mezzanine portfolio loan on 10 properties spread across the mid-west. The client is the owner and manager of a portfolio of multifamily and

hospitality assets. Their goal was to consolidate the debt on a number of properties, buyout existing partners, purchase notes on new assets, and secure capital to reposition some of the properties. The borrower wanted to secure the highest leverage possible and to utilize existing senior debt to keep the transaction costs at a reasonable number. RCG was able to structure a new capital stack totaling $17 million dollars which included mezzanine and new senior bridge funding in conjunction with some of the existing senior debt on

Jones Lang LaSalle, Meridian arrange $123m in financing

a few of the properties. The existing bank loans prohibited secondary financing so a portion of the funding was structured as mezzanine. Overall the funding amount was greater than the “as is” value, but did not exceed 70% of the projected stabilized value of the portfolio. The new loan provides for releases of individual properties in the event of sale or refinance as those properties reach stabilization. The new structure enabled the borrower to purchase non-performing notes secured by multifamily proper-

ties. After a foreclosure on the existing borrower, a rehab of the properties to Class A standards will be completed. The amount of leverage was critical since the borrower preferred to use as little cash as possible and not rely on his partners in an effort to maximize the return. The next phase of the funding allowed the sponsor to cash out and buyout existing partners, enabling the borrower to become the sole owner of the existing portfolio. Average occupancy was low and a portion of the funding will be utilized to reposition

some of the assets. The major challenges faced were the instability of the portfolio at the time of funding, the closing timeline was tight, and the exit was conceptual. This transaction required a creative solution to a challenging real estate structure. Regional Capital Group (RCG) is a direct real estate lender and investor, fund manager, and advisory firm established over 15 years ago with extensive experience in structured real estate finance. n

www.singerfinancial.com www.singer-properties.com

We Make Hard Money Easy *Loans up to $1M *We are Direct Lender! *Fast Closing in 5 days! *Licensed Mortgage Broker PA FSA *Brokers Protected (3-5 points)! *No License Needed for Commercial Referrals!

PA, NJ & DE

1700 Market St. PHILADELPHIA, PA — Jones Lang LaSalle announced the firm’s Capital Markets experts have closed the sale of 1700 Market St., a class A trophy office building located in Center City for $143.5 million. The property traded on behalf of Pearlmark Real Estate Partners. The firm, in conjunction with Meridian Capital, also arranged a senior mortgage and mezzanine financing of $123 million through UBS for the buyer, a partnership formed by David Werner. Leading the Jones Lang LaSalle team on this transaction was international director Tom Beneville, senior vice president Jerry Kranzel and vice president Mike Carpenter. Senior vice president Dustin Stolly and Meridian Capital’s managing director Ronnie Levine arranged the financing. n

- Apartments - Offices - Gas Stations - Construction

- Store Fronts - Retails - Residential - Storage

- Restaurants - Warehouse - Mixed Use - Raw Land

- Bars - Farms - Industrial

SINGER FINANCIAL CORP. A PRIVATE FINANCIAL INSTITUTION 1708 Locust Street, Philadelphia, PA 19103 Ph: (215) 893-9722 Fax: (215) 893-9725 Email : paul@singerfinancial.com

CALL NOW 877-SINGER-6

12A — November 11 - 24, 2011 — Mid

Atlantic Real Estate Journal

MAREjournal.com

Lender’s Directory Secures $32.25 million first mortgage financing in Pittsburgh’s central business district

HFF arranges $6 million financing for 501 and 601 Penhorn Avenue in Secaucus, New Jersey

ecaucus, NJ — HFF arranged $6 million in financing for 501 and 601 Penhorn Avenue, two industrial buildings totaling 100,000 s/f.

Secaucus. The properties are 100 percent leased to 5,000 s/f tenants that require close proximity to New York City. The HFF team representing Bhasin Properties was led by senior managing director Jon Mikula.

HFF worked on behalf of Bhasin Properties to secure the long-term, fixed-rate loan through Principal Real Estate Investors. 501 and 601 Penhorn Avenue are situated on seven acres close to Interstate 95/The New Jersey Turnpike and the Lincoln Tunnel in

Bhasin Properties specializes in the development and leasing of master-planned, state-of-the-art office and warehouse buildings in the prime Secaucus area. 601 Penhorn Avenue

Grant Building

Count On The Business Bank Of New Jersey

Columbia Offers Expert Business Banking Services ,INES OF #REDIT s 0RIME ,INE OF #REDIT FOR 0ROFESSIONALS s 4ERM ,OANS s 3"! ,OANS s 0ERMANENT -ORTGAGES #ONSTRUCTION &INANCING s "USINESS #HECKING s !TTORNEY %SCROW !CCOUNTS s $IRECT 0AYROLL $EPOSIT .IGHT $EPOSITORIES s 2ETIREMENT 0LANS s "USINESS /NLINE "ANKING s !ND -ORE

To learn more about our many Business Services AND HOW WE CAN HELP YOUR BUSINESS GROW VISIT OUR NEAREST OFlCE OR CALL 1-800-522-4167

The Grant Building is located at 310 Grant Street between Third and Fourth Avenues close to the Parkway (Interstates 279/376) and within walking distance of four Light Rail Transit (LRT) stops. Originally built in 1928, the property features five levels of underground parking for approximately 250 cars plus a new, stateof-the-art fitness center. The property is connected via an underground walkway to the City-County Building, County Office Building and County Courthouse. The Grant Building is 92 percent leased by tenants including Huntington Bank and The Hillman Company. The HFF team representing McKnight Realty Partners was led by executive managing director Gerard Sansosti.

Convenient Offices Throughout New Jersey

-AIN /FlCE 2OUTE s &AIR ,AWN .* s columbiabankonline.com Count on Columbia.

PITTSBURGH, PA — HFF secured a $32.25 million first mortgage financing for The Grant Building, a 37-story, 461,935 s/f office building in Pittsburgh’s central business district. Working on behalf of McKnight Realty Partners, HFF placed the 10-year, 5.25 percent, fixed-rate loan with Nationwide Real Estate Investments. Loan proceeds were used to refinance the acquisition and renovation loan. This is the second financing HFF has secured on behalf of McKnight through Nationwide; earlier in 2011, a $15.5 million financing was arranged for 615 Alpha Drive in Pittsburgh.

Member FDIC

McKnight Realty Partners is a leading real estate investment and development company based in Pittsburgh, Pennsylvania. n

MAREjournal.com

Mid Atlantic Real Estate Journal â&#x20AC;&#x201D; November 11 - 24, 2011 â&#x20AC;&#x201D; 13A

The Leading Real Estate Finance Advisor in the Mid-Atlantic

Hunters Glen 1,124 Units

Hatfield Village 997 Units

Toftrees Apartments 541 Units

$49,000,000

Hudson Square South 150 Units

$41,000,000

$33,000,000

$31,400,000

Delran, NJ

Hatfield, PA

Hoboken, NJ

State College, PA

Bethlehem Portfolio 412 Units

Park at Westminster 270 Units

West Creek Village 306 Units

Liberty Commons 98,400 Sq. Ft.

$27,850,000

$24,000,000

$16,000,000

$15,800,000

Bethlehem, PA

Warrington, PA

Elkton, MD

East Rutherford, NJ

Merrit Station 296 Units

Feasterville Plaza 110,000 Sq. Ft.

Regency Woods Apts. 156 Units

$15,300,000

$15,000,000

Salem Village 334 Units

$14,750,000

Meridien, CT

Feasterville, PA

$14,500,000

Doylestown, PA

Newark, DE

3OHDVH FRQWDFW ,VUDHO 6FKXEHUW DW WR OHDUQ PRUH DERXW 0HULGLDQĂ˘V XQLTXH DSSURDFK DQG WR GLVFXVV \RXU Ă°QDQFLQJ QHHGV 5RXWH 6RXWK %XLOGLQJ ) )LUVW )ORRU ,VHOLQ 1- _ ZZZ PHULGLDQFDSLWDO FRP

14A — November 12 - 25, 2010 — Financial Digest — Mid

Atlantic Real Estate Journal

MAREjournal.com

LENDER’S DIRECTORY CALIFORNIA Marcus & Millichap Capital Corporation 19800 MacArthur Boulevard • Suite 150 Irvine, CA 92612 P: 949-851-3030 F: 949-851-4345 whughes@marcusmillichap.com www.mmcapcorp.com William E. Hughes

DELAWARE

Applied Bank 601 Delaware Ave • Wilmington, DE 19801 P: 302-326-4200 (Ext. 29512) www.appliedbank.com Carl Kruelle, SVP Chief Lending Officer carl_kruelle@appliedbank.com Tim Cole, VP Commercial Real Estate Lending timothy_cole@appliedbank.com Louis Stackeni, Business Development lou_stackeni@appliedbank.com Commercial Capital Ltd. 31362 Edgewood Drive • Lewis, DE 19958 P: 888-929-3247 richard.hartnett@yahoo.com Richard Hartnett

MARYLAND

Beech Street Capital 7600 Wisconsin Avenue • Suite 800 Bethesda, MD 20814 P: 240-507-1901 www.beechstcap.com Grace Huebscher, President & CEO

BlueWater Financial Partners Real Estate Loans and Investments 7501 Wisconsin Ave • Suite 125 W Bethesda • Maryland 20814 Jason Goozh Neil Siman (o) 301.656.6566 | (f ) 240.766.0609 (d) 240.223.4500 www.bwfpartners.com info@bwfpartners.com

Meridian Capital Group, LLC Maryland Office 7600 Wisconsin Avenue • Suite 800 Bethesda, MD 20814 P: 240-507-1919 F: 410-504-5748 jkatz@meridiancapital.com Jacob Katz

NorthMarq Capital, Inc. 33 Offices Nationwide 2330 West Joppa Road • Suite 200 Lutherville, MD 21093 P: 410-296-6565 7700 Wisconsin Avenue • Suite 1150 Bethesda, MD 20814 P: 301-654-2400 www.northmarq.com

NEW JERSEY Berkadia 230 Half Mile Road • 2nd Floor • Red Bank, NJ 07701 P: 732-758-0004 F: 732-741-0033 Bill Kitley • John Matzel • William Collopy • Marc Reed • Robert Lipson

Capital One Bank 710 Route 46 East • Suite 306 Fairfield, NJ 07004 P: 973-439-7600 Douglas Kennedy

Carl Berger Associates 17 Furler Street Totowa, NJ 07512 973-256-5330 973-256-7424 Fax dberger@carlberger.com www.carlberger.com David A. Berger Coastal Commercial Group 1882 Route 1 North • North Brunswick, NJ 08902 P: 732-297-4700 F: 732-297-7999 johnburke@coastalcommercial.com www.sbacoastal.com

Columbia Bank 19-01 Route 208 North Fair Lawn, NJ 07410 P: 201-599-7076 F: 201-599-7063 pheilmann@columbiabankonline.com Paul A. Heilmann, Senior Vice President Commercial Real Estate Lending

Commercial Mortgage Capital 615 West Mount Pleasant Avenue Livingston, NJ 07039 P: 973-716-0006 F: 973-215-2904 mscott@newcommercialmortgage.com Mark M. Scott, Principal Stanley M. Weeks, Senior Vice President Eastern Union Funding 805 Cross Street • Suite 3 • Lakewood, NJ 08701 P: 732-942-5557 ira2@easternuc.com www.easternuc.com Ephraim Barkai • David Retesh • Eliezer Breiner • Yossi Belbman • Barry Lefkowicz • Sean Levitin • David Metzger • Mendy Pollack • Jeff Seidenfield • Aron Stern • Isaac Sternhill • Shaya Ackerman

The Henley Group, Inc. 8A Pleasant Street South Natick, MA 01760 617.512.1135 www.thehenleygroup.com Tammy Goldfisher

Holliday Fenoglio Fowler (HFF) 200 Campus Drive • Suite 205 Florham Park, NJ 07932 P: 973-549-2000 Kennedy Funding Two University Plaza • Suite 402 • Hackensack, NJ 07601 P: 800-342-8500 F: 201-342-8373 www.kennedyfunding.com info@kennedyfunding.com Kennedy Funding is a direct lender which provides mortgages/loans - secured by real estate – for all commercial property types and other fixed assets nationwide. We consider any property type, including raw land. Kennedy Funding specializes in development loans that need to close quickly, loans from $1 million and up.

MAREjournal.com

Mid Atlantic Real Estate Journal — Financial Digest— November 12 - 25, 2010 — 15A

LENDER’S DIRECTORY Lysar Financial Services, Inc. 443 Northfield Avenue • Suite 306 West Orange, NJ 07052 P: 973-325-2500 F: 973-325-7548 spepper@metropolitan-mortgage.com Direct Lenders Meecorp Capital Markets 2115 Linwood Avenue • Suite 301 • Fort Lee, NJ 07024 P: 201-944-9330 F: 201-944-9332 info@meecorp.com www.meecorp.com

Meridian Capital Group, LLC New Jersey Office 485 Route 1 South • Building F • First Floor Iselin, NJ 08830 P: 732-301-3200 F: 732-301-3299 ischubert@meridiancapital.com Israel Schubert, Managing Director Metro Funding Corporation One Kalisa Way • Suite 310 • Paramus, NJ 07652 P: 201-880-7850 F: 201-262-6910 www.metrofundingcorp.com lana@metrofundingcorp.com Direct Hard Money Lenders (Commercial) Metropolitan Mortgage and Realty, Inc. 443 Northfield Avenue • Suite 306 West Orange, NJ 07052 P: 973-325-1800/856-938-7100 F: 973-325-7548 rmeckel@metropolitan-mortgage.com Mortgage and real estate brokers specializing in commercial and investment property

NorthMarq Capital, Inc. 33 Offices Nationwide One Gatehall Drive • Suite 101 Parsippany, NJ 07054 P: 973-538-2330 www.northmarq.com NY Urban 800 Central Boulevard • Suite 800 Carlstadt, NJ 07072 P: 212-527-7130 F: 212-527-7111 clama@nyurban.net www.nyurban.net Chris Lama • John K. Lama • John G. Lama • Frank Harvey • Frank Reilly • Irwin Shapiro Palisades Financial, LLC 2160 North Central Road • Suite 308 Fort Lee, NJ 07024 P: 201-894-5000 F: 201-894-8833 www.palfi.net Ira Bergstein • Mark Zurlini • James Calvano • David McLain Jack Chimento Procida Funding & Advisors 456 Sylvan Avenue Englewood Cliffs, New Jersey 07632 www.procida.com Provident Bank 100 Wood Avenue South • Iselin, NJ 08830 P: 732-726-5558 www.ProvidentNJ.com

NDF Inc. P. O. Box 2285 • Ventnor City, NJ 08406 P: 609-513-0467 F: 609-939-0222 noelflamm@comcast.net www.noelflamm.com Commercial loan services – specializing in multifamily lending, strip centers, and all types of SBA financing. Let our team show you there is a difference in commercial lenders.

New Jersey Business Finance Corp. 2050 Center Avenue • Suite 375 Fort Lee, NJ 07024 P: 201-346-0300 Ira Lutsky, President 201-346-0300 Babette Gallagher, VP 201-421-9034 504info@njbfc.com Web:www.njbfc.com Small Business Administration Certified Development Company- Long term, 90% below market fixed rate financing, for owner-occupied real estate, and/or machinery and equipment. Newcastle Financial Company LLC 1 International Boulevard • Suite 400 Mahwah, NJ 07495 P: 201-378-0118 F: 201-584-9173 victoria@newcastlefn.com www.newcastlefn.com

Rock Financial Consulting 117 Central Avenue Hasbrouck Heights, NJ 07604 P: 201-288-1199 F: 201-288-2578 rjarocki309@yahoo.com Richard L. Jarocki

Spencer Savings Bank 611 River Drive River Drive Center 3 Elmwood Park, NJ 07407 P: 201-703-3807 cwoehrle@spencersavings.com www.spencersavings.com Charles Woehrle, VP/Director Donald Jacquin, VP • Lon King, VP Kenneth Mosher, VP Francis McCauley, VP Susquehanna Bank Two Aquarium Drive • 4th Floor Camden, NJ 08103 P: 856-756-3502 chris.unger@susquehannabank.com Union Center National Bank 2455 Morris Avenue Union, NJ 07083 P: 908-688-9500 F: 908-687-1796 info@uncb.com www.ucnb.com Anthony C. Weagley - President & CEO Ronald Shapiro, Senior Vice President Bill Boylan, Senior Vice President Paul Hodowanec,Vice President

NEW YORK Regal Bank 570 West Mt. Pleasant Avenue Livingston, NJ 07039 P: 973-716-0600 F: 973-994-9361 info@regalbanknj.com www.regalbanknj.com Sean Howland, VP Commercial Lending

Regional Capital Group 701 Route 70 East • Building One Marlton, NJ 08053 P: 856-983-4800 F: 856-983-5001 www.regionalcapital.com

Capital Source 640 5th Avenue • 11th Floor New York, NY 10019 P: 301-841-2700 www.capitalsource.com Middle Market Commercial Lenders • Bridge Loans • Warehouse Lines of Credit Distressed Note Acquisition Finance Centerline Capital Group 625 Madison Avenue New York, NY 10022 P: 212-521-6390 F: 212-421-2538

Cooper Horowitz Inc. 51 East 42nd Street New York, NY 10017 P: 212-986-8400 F: 212-983-0512 www.cooper-horowitz.com Barry Horowitz, President

16A — November 12 - 25, 2010 — Financial Digest — Mid

Atlantic Real Estate Journal

MAREjournal.com

LENDER’S DIRECTORY Fairmont Capital LLC 1333 60th Street • Brooklyn, NY 11219 P: 212-710-4018 F: 212-937-2034 www.fairmontcap.com Barry Katz bkatz@fairmontcap.com Neal Frohlich nfrohlich@fairmontcap.com Grubb & Ellis 1301 Avenue of the Americas, New York, NY10019 P: 212-326-4884 Email: richard.jarocki@grubb-ellis.com www.grubb-ellis.com Richard L. Jarocki, Jr CMB • Steve Robert

Meridian Capital Group, LLC New York Office – Corporate HQ 1 Battery Park Plaza • 26th Floor New York, NY 10004 P: 212-972-3600 F: 212-612-0100 Founded in 1991, Meridian Capital Group, LLC is one of the nation’s largest commercial real estate finance and advisory firms. Meridian has arranged more than $120 billion of commercial real estate debt, including more than 27,500 transactions in 42 states. www.meridiancapital.com sales@meridiancapital.com Jonathan M. Stern NorthEast Community Bank 325 Hamilton Avenue White Plain, NY 10601 P: 914-684-2500 F: 914-684-0444 www.necommunitybank.com Terence McArdle – White Plains, NY Dan Berke – White Plains, NY George Gaudet – Wellesley, MA

NorthMarq Capital, Inc. 33 Offices Nationwide 1800 One HSBC Plaza Rochester, NY 14604-2421 P: 585-262-2100 www.northmarq.com Real Estate Lenders Association, Inc. 380 Lexington Avenue • Suite 1920 New York, NY 10168 P: 212-692-9379 headquarters@rela.org

PENNSYLVANIA

BlueStone Real Estate Capital 1717 Arch Street • Suite 4120 Philadelphia, PA 19103 P: 215-717-2227 F: 215-717-1080 info@bluestonecap.com www.bluestonecap.com Bluestone Real Estate Capital is a Philadelphia-based commercial real estate investment banking and advisory firm that secures innovative debt, mezzanine, equity and sponsor equity financing for the nation’s top-tier investors, operators, owners and developers. visit: www.bluestonecap.com C U Lending Partners, Inc. 1800 JFK Boulevard • Suite 300 Philadelphia, PA 19103 P: 800-308-8696 RT@culendingpartnersinc.com www.culendingpartnersinc.com Richard Thomas • Larry Choy Foxhill Mortgage Company 2814 Leechburg Road Lower Burrell, PA 15068 P: 724-335-7334 F: 724-335-6678 tomt@foxhillmtg.com www.foxhillmtg.com Fulton Bank, N.A. Premier Division 379 North Main Street Doylestown, PA 18901 P: 267-893-6705 F: 215-340-2319 johoke@fultonbank.com www.fultonbank.com Invicta Finance 230 Prospect Avenue Scranton, PA 18505 P: 800-748-2495 F: 570-207-8635 www.invictafinance.com Tony Piestrak • Jack McIntyr • Mike Addessa Dominic Goffredo Lafayette Ambassador Bank 2005 City Line Rd • 2nd Fl Bethlehem, PA 18017 (610) 332-7167 www.lafambank.com

Singer Financial 1708 Locus Street Philadelphia, PA 19103 P: 215-893-9722 paul@singerfinancial.com Paul Singer U.S. Realty Capital, LLC 161 Washington Street • Suite 1525 Conshohocken, PA 19428 P: 215-893-9924 www.usrealtycapital.com Bob Jacoby • Bruce Robertson • Tom Greenwood Rich Colucci • Charley Harmar • Gerry Nanos Wells Fargo 100-120 North 18th Street • Two Logan Square Suite 1910 • Philadelphia, PA 19103 P: 215-640-3927 wellsfargo.com/realestate

RHODE ISLAND Ocean Capital 2 Altieri Way Warwick, RI 02886 P: 877-337-3757 F: 401-732-5342 www.oceancapital.com

WASHINGTON, DC EASTERN UNION COMMERCIAL REAL ESTATE FINANCE 1050 17th ST NW Suite 910 Washington, DC 20036 P: 202-629-9140 F: 202-429-1990

Llenrock Group 1315 Walnut Street • Suite 1517 Philadelphia, PA 19107 P: 267-351-6699 F: 267-351-6699 info@llenrock.com www.llenrock.com Members 1st Federal Credit Union 5000 Louise Drive Mechanicsburg, PA 17055 P: 800-283-2328 Ext. 5168 businesslending@members1st.org www.members1st.org

NorthMarq Capital, Inc. 33 Offices Nationwide 1600 Market Street Suite 1300 Philadelphia, PA 19103 P: 215-496-3000 www.northmarq.com

Apex Mortgage Corp. 1300 Virginia Drive • Suite 400 Fort Washington, PA 19034 P: 800-262-2739 X-223 F: 215-283-8885 jleister@apexmtg.com www.apexmtg.com

PNC REAL ESTATE 1600 Market Street • 30th Floor Philadelphia, PA 19103 P: 215-585-6129 F: 215-585-5806 andrew.coler@pnc.com Andrew D. Coler

Beneficial Bank 530 Walnut Street Philadelphia, PA 19106 P: 215-864-6742 F: 215-864-3548 www.thebeneficial.com James Amon

Royal Bank America 732 Montgomery Avenue Narbeth, PA 19072 P: 610 -668-4700 F: 610-668-3670 info@royalbankamerica.com www.royalbankamerica.com James E. Kirkpatrick

Federal Capital Partners 1000 Potomac St • NW, Suite 120 Washington, DC 20007 P: 202-333-6030 lacy@fcpdc.com www.fcpdc.com Lacy Rice, Managing Partner

Partner Holliday Fenoglio Fowler (HFF) 1627 I Street NW • 12th Floor Washington, DC 20006 P: 202-533-2500 www.hfflp.com Jon Mikula • Thomas Didio Stephen Conley • Susan Carras

MAREjournal.com

Mid Atlantic Real Estate Journal — November 11 - 24, 2011 — 17A

MAREJ MONTHLY SALES AND LEASE REPORT As Reported In The Mid-Atlantic REAL ESTATE JOURNAL ~ OCTOBER 14 - NOVEMBER 10, 2011 PROPERTY PROPERTY NAME NAME LogistiCenter North Broad St Westfield Pines

ADDRESS ADDRESS

SELLER/ SELLER/ OWNER/ OWNER/ LESSOR LESSOR

REP. REP. OF OF SELLER/ SELLER/ LESSOR LESSOR

DP Partners

213 Summit Rd. 275 Rte 4 Regency Club Apts.

Sauk Village, IL Elizabeth, NJ Elizabeth, NJ Elizabeth, NJ Elizabeth, NJ Elizabeth, NJ Edison, NJ Cateret, NJ Newark, NJ Orange, NJ Nutley, NJ Irvington, NJ Linden, NJ Mountainside, NJ Paramus, NJ Jackson, NJ

1601 Schlumberger Dr Bloom Ct PPG Pl 140 S Main St 491 Marylan Ave Northgate SC Clearview SC Lincoln Way East 1249 Toronita St 151 Allendale Rd 920 Linda Ln 251 N Progress Ave 527 Gitts Run Rd 1890 Old Crooked Hill Rd 97 Masonic Dr 1310 Old Crooked Hill Rd 185 2nd St 1011 Mumma Rd 6330 Flank Dr.

Moorsetown, NJ Mount Laurel, NJ Pittsburgh, PA Manchester, PA York Cty, PA York Cty, PA Hanover, PA Guilford Twp, PA N York, PA Hampden Twp, PA Lwr Allen Twp, PA Susquehanna Twp, PA Hanover, PA Harrisburg, PA Elizabethtown, PA Harrisburg, PA Highspire, PA Wormleysburg, PA Harrisburg, PA

First Industrial Trust Bloom Org Market Assocs

172-174 S Pine St

York Cty, PA

ROCK Comm’l

1601 Schlumberger CoreTitle Highwoods Props Gradison Mgmt WBF Grand Spirit Halloween Yoe Parts Lumber Liquidators Window World Broccco Supply Charles Clement Advantage Denture Compass Grp USA Convenient Ventures Toshiba Business Solutions Pagoda Electrical Antonio’s Pizza SHS Grp Commonwealth Business Technology Ping Lin

Shippensburgh Marketplace 100 Railroad Rd

Shippensburgh, PA

ROCK Comm’l

Sam’s Diner

Westminster, MD

Heads or Tails

909 Grantley Rd 11-13 W Philadelphia St The Business Journal Ctr The Business Journal Ctr 2501 Kensington Ave 1845 Stefko Blvd 900 Conroy Pl

York, PA York, PA

ROCK Comm’l Outdoors ROCK Comm’l ROCK Comm’l CAMPBELL

Azteca Mexican Grill N. Palumbo Cordier Auctions

CAMPBELL

Berkshire Sys Grp

Colliers In’l The Frederick Grp Hawley Realty

MBA AutoZone

900 Conroy Pl 628-630 State Rd

Easton, PA Emmaus, PA

Hawley Realty

Shepherd Hill Plaza

Wescosville, PA

187-191 Main St

Emmaus, PA

First Niagra Bank

550 S Henderson Rd 422 Business Center

King of Prussia, PA Oaks, PA

Raymor & Flanigan 422 Business Center

Parcel Port Lehigh Print & Data Mens Cuts MBS Credit & Collections Svcs 187-191 Mainstreet Partnership Lyon Conklin Reber Freil

Cross Valley West 4049 Landisville Rd Ten Penn Ctr 2.0 University Pl 7036 SnowdriftRd 1840 E Race St 941 Marcon Blvd 2005 City Line Rd

Forty Fort, PA Doylestown, PA Philadelphia, PA Philadelphia, PA Allentown, PA Allentown, PA Allentown, PA Allentown, PA

Mericle F. Shuman Ten Penn Ctr Assocs University Place Assocs Denholtz HVAC Dist HAF City Line Plaza

74 W Broad St 95 Highland Ave 3465 Naareth Rd 5050 Tilghman St 4301 N Delaware Ave 1930 S Broad St North Ave. Eagle Meadows 601 N Fairfax St 3200 Green Forest Dr 11510 Georgia Ave. 11510 Georgia Ave. 260 W Sweadsford Rd Cumberland Crossing Cumberland Crossing Elkridge Corners Wood’s Tavern Wood’s Tavern Wood’s Tavern Wood’s Tavern Wood’s Tavern Rego Center Bay Plaza Summerhill Sq Riverplace Meridian Hill

Allentown, PA Allentown, PA Easton, PA Allentown, PA Philadelphia, PA Philadelphia, PA Westfield, NJ Dover, DE Old Twn Alexandria, VA Philadelphia, PA Wheaton, MD Wheaton, MD Devon, PA Millville, NJ Millville, NJ Elkridge, MD Hillsborough, NJ Hillsborough, NJ Hillsborough, NJ Hillsborough, NJ Hillsborough, NJ Queens, NY Bronx, NY E Brunswick, NJ Rahway, NJ Washington DC

502 York St

Scotland Rd 10 Berton Pl 446-448 Nye Ave

Philadelphia, PA Bethlehem, PA Easton, PA

Delaney RE Holdings Mall at IV Grp Props Morgan Mgmt

Simpson Ferry RE Linda Lane Arthur Giannakopoulos 527 Gitts Run Rd Susquehanna-Wagman Robert Kint Natale Realty 1011 Assocs K&T Enterprises

Archdiocese of Phila 900 Conroy Forks Mgmt Corp LIG Business Holdings

Crossroads of Nazareth

Darwin Realty The Kislak Co. The Kislak Co. The Kislak Co. The Kislak Co. Bussle

BUYER/ BUYER/ TENANT/ TENANT/ LESSEE LESSEE

Gebroe-Hammer Gebroe-Hammer Marcus & Millichap NJ NAI Hanson Metro Comm’l HFF Phoenix Realty Harel Ins Binswanger CBB Bloom Org CBRE Springwood Comm’l Springwood Comm’l Springwood Comm’l Springwood Comm’l Springwood Comm’l Bill Gladstone Grp Bill Gladstone Grp NAI CIR Landmark Landmark LMS Landmark Landmark CAMPBELL NAI CIR

JLL 422 Business Center Swope Lees Mericle NAI Mertz Grubb & Ellis Grubb & Ellis NAI Summit NAI Summit NAI Summit NAI Summit

NAI Summit

ARCA Mercy Health Sys

Sidney E Gable Binswanger The Kislak Co. Hunt Cos. IPA/Marcus & Millichap Cassidy Turley BPG Lakewood at Georgia Ave Scheer Ptrs Lakewood at Georgia Ave Scheer Ptrs Fameco Fameco

Regency Ctrs Larken Assoc Larken Assoc Larken Assoc Larken Assoc Larken Assoc

Raider Realty Raider Realty Raider Realty Raider Realty Raider Realty

Ontario Ptrs

Welco Welco Gebroe-Hammer Marcus & Millichap

Winpak

Federal Autocat

REP. REP. OF OF TENANT/ TENANT/ BUYER BUYER Lee & Associates The Kislak Co. The Kislak Co.

Bussle Bussle Bussle Gebroe-Hammer Gebroe-Hammer Gebroe-Hammer Gebroe-Hammer Marcus & Millichap NJ

Drake & Presti Chuck E. Cheese Gaia RE Investments

Hill Corp TF Ptrs PICPA GSA UL Verification Beck Pkging Emstar Spotts, Stevens & McCoy Saucon Mutual Bayada Nurses Health Network Labs Medstar

PRICE PRICE $2.45m $2.955m $2.825m $950k

$6.435m $3.8m $1.275m $115k $4.8m

$44m

Colliers In’l Colliers In’l Springwood Comm’l

Landmark Landmark RSR Realtors Landmark Landmark Landmark

$2m

Manufacture Multifamily Multifamily Multifamily Multifamily Whse

Multifamily Multifamily Multifamily Multifamily Ind Office Retail Multifamily

79,000 SF 3580 SF

Flex Office Ind Ind Retail Retail Retail Whse Whse Office Medical Flex Ind Off/Flex Ind/Flex Retail Office

S/L S/L L S S S S L L L

PG PG

S L L S

3A FC-B FC-B FC-B FC-B FC-B FC-B FC-B 2B 2B 2B 2B 3B 4B 4B 5B

S L S S S L L L L L L L L L L L L L L

5B 5B FC-C 2C 2C 2C 2C 2C 2C 2C 2C 2C 3C 3C 3C 3C 3C 3C 3C

8044 SF Multifamily 5000 SF

Comm’l

Retail

ROCK Comm’l

3024 SF

Retail

ROCK Comm’l ROCK Comm’l CAMPBELL

1992 SF 932 SF 12560 SF combined above

Retail Retail Office

L L L

4C 4C 4C

Office

Academic Retail

S S S

5C 5C 11C

Colliers In’l The Frederick Grp Hawley Realty

$3.5m $1.3m $5.087m

16,100 SF

L L

11C 11C

combined

11C

combined

11C

Swope Lees Swope Lees

Grubb & Ellis Studley

$2.1m $3.7m $26m

NAI Summit NAI Summit NAI Summit NAI Summit

The Kislak Co. Nolletti ,Early & Witten

9000 SF

combined $400k

$6m

UIP

DESC. DESC.

267,000 SF 46 unit 41 unit 40 unit 16 unit 75,000 SF 65,000 SF 20,000 SF 118 unit 74 unit 7 unit 6 unit 36,000 SF 2800 SF 20,000 SF 372 unit

$179.396m $400k 31,180 SF $300k 34,682 SF 8640 SF 7800 SF 4224 SF 4000 SF 20,000 SF 3306 SF 1320 SF 13,800 SF 7200 SF 5204 SF 3750 SF 3302 SF 3185 SF

Howell Acquisition Morgan Eagle Meadows 601 NF Assocs HDT Aguilar Assoc Pray & Adams PC Mealy’s Furniture Hobby Lobby Dollar Tree Green Valley Mkts Pizza Hut Tchorz. Granite & Marble Earth Fruits NE Wealth Planners IT Media Pier 1 Imports

SIZE SIZE

$4.3m 23.18m $21m

Metro Comm’l

Welco Welco Welco $26.25m $4.2m

83,000 SF 41,000 SF

Ind/Whse

L L

11C 11C

80,000 SF 36,000 SF 16,000 SF 53,435 SF 38,510 SF 7000 SF 1200 SF 5147 SF

Off/Ind Ind Office Office Ind Whse Whse Office

L S L L L L L L

12C 12C 12C 12C 12C 12C 12C 12C

3027 SF 2200 SF 1121 SF 2239 SF 80,000 SF 3.47 acres 11,400 s/f 352,202 s/f 129,564 SF 172,759 SF 453 SF 1217 SF 60,000 SF 58,822 SF 12,000 SF 39,000 SF 1525 SF 511 SF 1700 SF 509 SF 408 SF 8500 SF 9599 SF 9000 SF 136 unit 52 unit

Office Office Office Office Ind Medical Mixed-use Multifamily Office Whse Office Office Retail Retail Retail Retail Retail Retail Retail Retail Retail Retail Retail Retail Multifamily Multifamily

L L L L L S S S S L L L L L L L L L L L L L L L S S

12C 12C 12C 12C 12C 17C 6A 11A 11A 11A 13A 13A 3B 4B 4B 4B 16B 16B 16B 16B 16B 16B 16B 16B FC-C 3C

18A — November 11 - 24, 2011 — Mid

Atlantic Real Estate Journal

MAREjournal.com

$185,000,000

TRINITY CENTRE 111 AND 115 BROADWAY NEW YORK, NY Twin 22-story landmark office/retail buildings containing 900,000 square feet The undersigned arranged the above financing.

REAL ESTATE FINANCING

51 East 42nd Street New York, NY 10017 (212) 986-8400 Fax: (212) 983-0512 www.cooper-horowitz.com

MAREjournal.com

Mid Atlantic Real Estate Journal — November 11 - 24, 2011 — 19A

COMMERCIAL REAL ESTATE ORGANIZATIONS’

EVENTS CALENDAR NOVEMBER 10 – CFA PHILADELPHIA Event: CFA Candidate Open House Time: 6:00 PM – 8:00 PM Location: Marriott Courtyard Address/City: 21 N. Juniper St., Philadelphia, PA P: 215-496-3200 Cost: Free – Reservations Required www.cfaphil.org

NOVEMBER 15 – IYP/IREM Event: Networking Event Time: 5:30 PM – 8:30 PM Location: Equus Restaurant Address/City: 1 Mill St., Bernardsville, NJ Cost: $30 Members/Nonmembers P: 856-303-0190 E: irem1@comcast.net www.irem1.org

NOVEMBER 17 – CFA PHILADELPHIA Event: Annual Awards Dinner Time: 5:00 PM – 8:00 PM Location: Loews Hotel Address/City: 1200 Market St., Philadelphia, PA Cost: $50 Members & Guests P: 609-519-0056 E: pconners@cfaphil.org www.cfaphil.org

NOVEMBER 10 – CREW PHILADELPHIA Event: 13th Annual Charitable Holiday Luncheon Time: 11:00 AM – 1:30 PM Location: Hyatt at the Bellevue Address/City: Broad & Walnuts Streets Cost: $125 Members $150 Nonmembers P: 215-243-9074 E: cbryce@raitft.com www.crewphiladelphia.org

NOVEMBER 15 – SMPS PITTSBURGH Event: Luncheon Program – Higher Education Panel Time: 11:30 AM – 1:30 PM Location: The Rivers Club Address/City: One Oxford Center, 101 Grant St., Suite 411, Pittsburgh, PA Cost: $40 Members $65 Nonmembers www.smpspittsburgh.org

NOVEMBER 17 – CIRC/TRISTATE/CCIM/SIOR Event: Annual Joint Dinner Meeting Time: 5:30 PM – 8:30 PM Location: Harry’s Savoy Grill Address/City: 2020 Naamans Rd., Wilmington, DE Cost: $55 Members $65 Nonmembers P: 302-633-1705 E: janet@circdelaware.org www.circdelaware.org

NOVEMBER 10 – CREW PITTSBURGH Event: Wine Tasting Event Time: 6:00 PM – 8:30 PM Location: The Carlton Restaurant Address/City: 500 Grant St., Pittsburgh, PA Cost: $50 Members $65 Nonmembers P: 412-521-3000 E: ahopkins@pennoni.com www.crewpittsburgh.org

NOVEMBER 16 – ABC EPA Event: Merit Construction Awards of Excellence Banquet Time: 5:00 PM Location: Radisson Hotel Valley Forge, Waterford Ballroom Address/City: 1160 First Ave., King of Prussia, PA Cost: $110 per Person P: 610-279-6666 www.abceastpa.org

NOVEMBER 17 – CREW PITTSBURGH Event: Members Only Lunch ‘N Learn Time: 12:00 PM – 1:00 PM Location: Offices of Babst Calland Address/City: Pittsburgh, PA Cost: Free-Reservations Required E: admin@crewpittsburgh.org www.crewpittsburgh.org

NOVEMBER 10 – ULI NJ Event: Annual Real Estate Trends Time: 8:30 AM – 11:00 AM Location: Rutgers University/Bloustein School Address/City: 33 Livingston Ave., New Brunswick, NJ Cost: $50 Members $75 Nonmembers P: 800-321-5011 www.nnj.uli.org NOVEMBER 11 – SMPS CENTRAL PA Event: CPSM Mentoring & More Program-Domain 2: Marketing Plan Time: 11:30 AM – 1:00 PM Location: Gannett Fleming West Building Address/City: Room 260, 209 Senate Ave., Camp Hill, PA Cost: $15 Members P: 717-763-7212 Ext. 2272 E: adetar@gfnet.com www.smpscentralpa.org NOVEMBER 15 – CIANJ Event: Women of Influence in New Jersey Time: 5:30 PM – 7:00 PM Location: Bergen Community College-TEC Building Address/City: 400 Paramus Rd., Paramus, NJ Cost: $15 Members $30 Nonmembers P: 201-368-2100 E: nharencak@cianj.org www.cianj.org NOVEMBER 15 – CORENET Event: Facilitating Wins: State & Regional Incentives Time: 11:30 AM – 1:30 PM Location: Duquesne Club Address/City: 325 Sixth Ave., Pittsburgh, PA www.corenetglobal.org

NOVEMBER 16 – CREW LEHIGH VALLEY Event: 7th Annual “Members Only” Luncheon Meeting Time: 11:30 AM Location: Lehigh Country Club Address/City: 2319 South Cedar Crest Bldg., Allentown, PA Cost: $37 per Member www.crewlehighvalley.org NOVEMBER 16 – DVGBC Event: Membership Celebration Time: 5:30 PM – 8:30 PM Location: Artsquest Center-SteelStacks Campus Address/City: 101 Founders Way, Bethlehem, PA Cost: $35 Members $50 Nonmembers $20 Students P: 215-399-5790 www.dvgbc.org NOVEMBER 16 – NJAA Event: Fair Housing Basics Time: 8:30 AM – 12:00 PM Location: 104 Interchange Plaza, Suite 201 Address/City: Monroe Township, NJ Cost: Members Free/$75 Nonmembers E: casey@njaa.com www.njaa.com NOVEMBER 17 – BOMA PHILADELPHIA Event: Networking & Tour of Bio Wall Time: 5:30 PM – 8:00 PM Location: Drexel University-Papadakis Integrated Science Bldg. Address/City: Corner 33rd & Chestnut Sts., Philadelphia, PA P: 215-567-1775 E: kgahres@bomaphila.com www.bomaphila.com

NOVEMBER 18 – IREM SNJ & DELVAL Event: Women in Leadership Roles Time: 1:00 PM – 4:00 PM Location: Pentecostal Square Address/City: 325 Pusey St., Chester, PA Cost: $25 Members $35 Nonmembers P: 856-829-8939 E: admin@irem101.org www.irem101.org NOVEMBER 18 – USGBC NJ Event: Building Sciences Workshop I: Residential Envelope Time: 8:00 AM – 12:00 PM Location: Bergen County Community College Address/City: 400 Paramus Rd., Paramus, NJ www.usgbcnj.org NOVEMBER 29 – ULI PHILADELPHIA Event: Commercial Real Estate Finance Workshop Time: 4:00 PM - 6:00 PM Location: Ernst & Young Address/City: 2001 Market St., 36th Fl., Philadelphia, PA Cost: Free-Registration Required P: 800-321-5011 www.philadelphia.uli.org NOVEMBER 30 – CORENET NJ Event: Critical Value Add: Corporate Real Estate Merger Time: 8:30 AM – 10:30 AM Location: Park Avenue Club Address/City: 184 Park Ave., Florham Park, NJ P: 973-992-6773 E: execdir@corenetnj.org www.corenetnj.org

20A — November 11 - 24, 2011 — Mid

Atlantic Real Estate Journal

MAREjournal.com

MID ATLANTIC REAL ESTATE JOURNAL By Elliott Gansner, pvXchange North America

Solar power, an increasingly smart investment . . . continued from page 2A burdensome, time-consuming, risky and expensive. Considering that solar installations are not a core part of commercial property owners’ core businesses and that procurement of solar modules is only one part of a long project development cycle, such complicated decisions can be a serious obstacle to the widespread implementation of solar. Thus, while the financial and marketing benefits of solar systems are attractive, the time and financial costs associated with the decision-making process can hinder solar development in the commercial property sector. Commercial property owners and contractors, many of whom are relatively new to the solar space, have recognized a need to outsource procurement of solar components to ensure that they purchase and install the most appropriate equipment for their projects. It is exactly this void that our company, pvXchange, seeks to fill. Through our procurement

service and in conjunction with a contractor partner, we can help mitigate this burden and risk while helping to streamline solar projects. This allows property owners to reap the benefits of solar without having to spend precious company time on the more difficult aspects of these projects. Of the several dozen steps in the solar project development process, we can take care of the most important, difficult and expensive one: choosing the right solar components (panel costs account for between 50 and 60 percent of the total cost of a solar project). Through our global network, which spans three continents and 7,500 clients, we can help navigate the solar panel market. Since 2005, we have traded over 209 different brands of solar modules and ~$1 billion worth of merchandise. Commercial property owners will need help from companies such as pvXchange who can identify the needs for each project and save clients time and money

while procuring the solar panels that best suit their needs. The solar industry is growing rapidly, creating a multitude of new brands and technologies. As the benefits of solar energy go up and costs – particularly upfront costs – go down, there will be more demand from commercial property owners and developers to add value to their properties by adding rooftop solar systems. pvXchange is committed to making the solar component market more transparent, simplifying the solar installation process and saving commercial property owners and contractors time and money. At the end of the day, a business is committed to providing the highest quality service to its customers, and by helping these owners, we are providing them with an opportunity to focus their attention on their own clients and provide them with better quality and service. Elliott Gansner is general manager of pvXchange North America. ■

Green building retrofits: Federal & State incentives . . . continued from page 3A guarantee program and other key incentives for industrial properties. Pennsylvania Incentives If your property is located in Pennsylvania, approximately $67.4 million in energy-efficiency incentives are approved through May 31, 2013 (See Pennsylvania Act 129). These incentives are part of the Smart Start utility programs that provide for utility company rebates if energy-efficiency upgrades are made to certain types of real property. If a property owner installs energy-efficient equipment (e.g., prescriptive measures such as HVAC, lighting, motors, or refrigeration), an incentive may be obtained by achieving predetermined savings and incentive levels. If these specific prescriptive measures are not included in your project, you can also request custom incentives on a case-bycase basis. Such case-by-case determinations are evaluated by analyzing the units of energy intended to be saved by the particular installation. Eligible custom measures include process equipment improvements, new air compressors/controls, refrigeration controls, additional cooling tower capacity, “free cooling,” heat recovery, and cool roofs/shad-

ing. While renewable energy sources, on-site generation, repairs/replacement of unused equipment, design/consulting services, and internal labor are not covered by Pennsylvania incentives, a large part of any of these projects may fit within the prescriptive or custom measures. An additional source of funds is also potentially available for Philadelphia-based projects under the auspices of the Philadelphia Industrial Development Corporation— Greenworks Loan Fund (for Philadelphia projects, see www. phila.gov/green/greenworks for additional resources). New Jersey Incentives New Jersey’s Direct Install Program can provide incentives to industrial and commercial property owners with a peak electricity demand of 200 kilowatts (kW) or less over the preceding 12 months. The program can provide incentives of up to 60% of the cost of energy-efficient retrofits, including the installation of energy-efficient HVAC equipment, lighting, refrigeration equipment, motors, variable frequency drives, and natural gas equipment. In addition, the New Jersey Clean Energy Program (NJCEP) offers a “Pay for Performance” incentive for both new and existing buildings. For

existing buildings, a variety of incentives are available. The program is unique in that it does not match rebate levels to specific types of equipment. Rather, the Pay for Performance Program determines the performance incentive by evaluating projected energy savings. While the cost of “green” building retrofits can often seem like a daunting task from a funding perspective, federal and state incentives can often provide the additional catalyst necessary for property owners to make valuable, meaningful, and environmentally responsible changes to their properties. Thus, when considering a building retrofit, it is incumbent upon the owner and the building’s occupants (who tend to pay for energy) to actively seek out and apply for applicable, available incentives in order to potentially drive down relevant payback periods. Further details and discussion of federal and state incentives can be found at DSIREusa.org. Jeannine Bishop is partner, Real Estate Practice, Morgan Lewis. Brad Molotsky, LEED GA is executive vice president, general counsel and secretary, Brandywine Realty Trust. ■

Regal Bank says a definitive “NO” to raising consumer fees LIVINGSTON, NJ — It’s the talk of the banking industry – dramatic increases on all manner of consumer fees, from checking accounts to debit card and ATM usage. And it seems quite a few financial institutions are getting in on this “action.” But some banks have rejected the model of hiking fees to increase profits – and prominent among these is Livingston-based Regal Bank. “The fee increases we’re seeing from many major banks are certainly one way to address current conditions – but at Regal, we’re taking a different approach,” said David Orbach, chairman of Regal Bank. “Quite simply, we’ll hold the line on fees for our current consumer products. From our perspective, keeping fees low is the

most effective way of retaining existing customers, while also attracting new ones.” Such a strategy, Orbach notes, is also the best way for a community bank like Regal to respond to existing economic pressures. In addition to debit cards, ATM access, and checking accounts, other services becoming more expensive at many institutions include overdraft charges, credit card payment insurance, card activation, coin-counting, and even direct communication with a teller. “These days, almost every consumer is looking for ways to spend less,” adds Orbach. “We’re confident they’ll view a community bank that keeps its fees low as the ideal financial partner. ■

By Sam Berns, NorthMarq . . . continued from page 10A for new deals, the types of deals which interest them and various joint venture structures. Gifford, of JP Morgan, stated that even though they invest in all property types, they remain 60% interested in retail. Falco, of Rockwood Capital, tries to invest in value add opportunities. Rockwood focuses on deals $100 million and up with a 15% Internal Rate of Return (IRR). Kagen specializes in Joint Ventures involving pension funds. He specifically seeks out retail centers and prefers repeat business. Again, the focus will be for major metropolitan areas. Jeff Barclay, managing director at Goldman Sachs, led the Investment Fund segment of the conference. Barclay is an adjunct professor at Columbia Business School and earned both his BS and MBA from Columbia University. David Gilbert of ING Clarion Advisors stated they continue to purchase all property types but seems to find their greatest success with their open end industrial trust fund, as well as with their apartment fund. Brad Hutensky, principal with Hutensky Capital Partners in Hartford, Connecticut, specializes in value add retail opportunities for his investors. Kevin Smith, manager for Prudential Investment Management in Parsippany, NJ, has positioned themselves with over 50% of their assets outside of the US. Bidders are being too aggressive in the US due to the lack of alternative investments. Prudential has been exploring more investment opportunities in South America due to cap rate compression here at

home. Robert Verrone, principal of Iron Hound Management Company in Short Hills, New Jersey was joined by Toby Cobb, Co-Chief executive officer of LNR Property in Miami, Ray Potter, Principal of Hodes Weill & Associates in New York and William David Tobin, principal of Mission Capital Advisors in New York. This panel discussed the current status of CMBS loan servicing, maturing CMBS debt and loan sales. Verrone stated that since the 2nd quarter, he has noticed a significant decrease in the number of new leases seeking special servicer approval. He contemplated that this may foreshadow a downturn in US economic activity. Potter discussed the realities of various interests over the life span of a CMBS loan. Tobin discussed that for the most part, carve-out changes made on CMBS 1.0 loans seem to be working as fewer borrowing entities are seeking protection through bankruptcy. The well attended conference may be summarized by stating that there is strength and plenty of capital available in certain markets. For the most part, these represent the top 67 of the nation’s MSAs. Smaller markets, such as Upstate New York, probably will not benefit from major investments by institutional players. Smaller market will continue to rely on local and regional banks, life insurance companies and the agencies for multi-family product. Sam Berns is managing director, Upstate New York Office of NorthMarq. ■

MAREjournal.com

Mid Atlantic Real Estate Journal — November 11 - 24, 2011 — 21A

MID ATLANTIC APPRAISAL

BUSINESS CARD SERVICE DIRECTORY

COMMERCIAL REAL ESTATE

ELECTRICAL CONTRACTOR Phone: 732.360.9050 Fax: 732.360.0469 www.lunarelectric.com

Art Campbell, President art@acampbell.net Ph: (717) 737-6161 ŏ )D[: (717) 737-9640

ENVIRONMENTAL

ENGINEERING

ELECTRICAL CONTRACTOR, INC.

RON GIAMBRONE ! PO BOX 777 ! OLD BRIDGE, NJ 08857 COMMERCIAL ! RESIDENTIAL ! DATA/COM NJ LIC# 10775 EMAIL: ron@lunarelectric.com INSURED & BONDED

ENVIRONMENTAL ENGINEERING

ENVIRONMENTAL SYSTEMS P.O. Box 1181, Pt. Pleasant, N.J. 732-892-8707 EXPERTS IN ENVIRONMENTAL REMEDIATION Groundwater Investigation & Remediation Environmental Phase I & II Audits Oil Tank Testing/Removal Indoor Air Quality/Mold Testing

NJDEP Permits (Air, Water, Wetlands) Brownfields Development Professional Testimony Statewide Service Geoprobe Services ISRA/ECRA

WWW.DEPENVIROSYSTEMS.COM

INTERIOR PLANTING & DESIGN

LAUNDRY SERVICES

LEASING & MANAGEMENT

Call Fowler today to find out how we can make your laundry room more profitable. 800-334-1824 X127

George D. MacBeth President Northern New Jersey

Commercial Mortgages / Business Loans Construction Loans / Workouts / Consulting

P.O. Box 73 • Haworth, NJ 07641 201.387.7997 • 201.264.3476 • Fax 201.387.7995 gmacbeth@fdsnnj.com X www.foliagedesign.com

451GMacBethBC.indd 1

Fowler www.fowlercompanies.com The Commercial Laundry Specialists

Serving apartment communities since 1952 * Commissions - Sales - Service

8/11/08 12:24:30 PM

Make your business card work as hard as you do PR / M

ETING

ARK

e info

for mor

man t s i r h C da Call Lin /800-584-1062 5298 1 7 8 1 78

If you do not have a business card readily available, our art department will design one for you at no extra charge!

SITE ENGINEERING

Ted C. Williams, P.E. Principal, Business Development LandmarkJCM 100 West Commons Blvd., Suite 301 New Castle, DE 19720 tedw@landmarkjcm.com

Would like to be included on this page call:

Linda Christman lchristman@marejournal.com (800) 584-1062 / (781) 871-5298 Fax (781) 871-5299 or Your Account Executive Mid Atlantic REAL ESTATE JOURNAL

22A — November 11 - 24, 2011 — Mid

Atlantic Real Estate Journal

MAREjournal.com

1100 East Hector Street, Suite 393 Conshohocken, PA 19428

President Douglas Sayer Colliers International

Phone/Fax: 610-238-9950 / 610-238-9959 E-Mail: tristate@tristaterca.com Website: www.tristaterca.com

2011 Officers & Directors President Douglas Sayer Colliers International

President Elect Michael P. McCurdy Jones Lang LaSalle

Vice President (Pennsylvania) Paul G. Garvey Cushman & Wakefield of PA

Vice President (New Jersey) Jonathan Glick Sheldon Gross Realty, Inc.

Secretary VP (Delaware) Gregory Ellis, CCIM Patterson Woods Commercial

Treasurer Ralph A. Magnatta, CPM Brite Realty Services

Immediate Past President James A. Egan Grubb & Ellis Co.

Director Advisory Council J. Robert Clements Grubb & Ellis

Director Advisory Council John Derham Cushman & Wakefield of PA

Director David A. DePetris Legend Properties

Director Jeffrey B. Goldstone Herbert Yentis & Company

JOIN US! Annual TriState - CIRC - CCIM - SIOR Joint Meeting TriState REALTORS® Commercial Alliance Certified Commercial Investment Members (CCIM) Commercial-Industrial Realty Council (CIRC) Society of Industrial and Office REALTORS® (SIOR)

Thursday, November 17, 2011 5:30 pm - 8:30 pm

Director Louis J. Battagliese Jackson Cross Partners, LLC

Director J. Scott Gabrielsen Binswanger

Director Gene McHale Beacon Comm’l. Real Estate

Harry’s Savoy Grill 2020 Naamans Road ~ Wilmington, DE (Directions: Take I-95, exit onto Naamans Road. Harry’s is 2.5 miles west, just before the F&N Shopping Center) AGENDA 5:30 PM: 6:30 PM: 6:45 PM: 7:30 PM:

Registration & Cocktails Program Starts Buffet/Dinner Served Introduction of Speaker

Cost - $55 for TriState Members / $65 for Non- Members SPEAKER

Wayne D’Amico, CCIM, Incoming CCIM President will present:

THE SECRET PASSAGE TO MAKING IT THROUGH CHALLENGING TIMES “Ask Not What Others Can Do For You” - Taking Stock in One’s Self. Wayne D’Amico will share his observations, offering alternatives to looking for silver bullets proving that taking stock in what you’ve already learned and experienced can be the secret passage.

For additional information please call the TriState offices at 610-238-9950 Director Barry P. Mertz NAI Mertz Corp

Director Todd Monahan Jones Lang LaSalle

Director Steven G. Michaelson Tornetta Realty Corp.

Director Tony Nichols, Jr. Liberty Property Trust

Director Rocco Perate square 1 financial

Director Greg Soffian Studley

REGISTER TODAY! DECEMBER PA COURSES! - Monday, December 12, 2011 Legal Updates in Commercial Real Estate - Tuesday, December 13, 2011 Supply and Demand in a Recovering Market Cost: $60 per course (TriState Members) $75 per course (Non-Members) Course Location: Spring Mill Corporate Center, 1100 E. Hector Street, 1st Floor, Conshohocken, PA 19428 For further information on upcoming classes and/or general questions please call 610-238-9070 or email Eilliano@tristaterca.com

*Approved for real estate, legal and appraiser CE credits!* Director JoAnn West Lieberman Earley & Co.

See Page 19A for Events

MAREjournal.com

Mid Atlantic Real Estate Journal — November 11 - 24, 2011 — 23A

24A — November 11 - 24, 2011 — Mid

Atlantic Real Estate Journal

MAREjournal.com

Mid Atlantic REAL ESTATE JOURNAL

BILLBOARD

CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS

CUSTOMER SERVICE REP NEEDED

NORTHEASTERN PENNA. SALE & LEASE OFFERINGS

•

Rep needed to work for our aid. 18yrs and above needed. Must possess good typing skills, speak English Àuently. Will earn $3000 monthly. Email me at (p_smith1163@yahoo.com) if interested contact me

Industrial Land – 10.7 acre site in Valmont Industrial Park for sale. Zoned for manufacturing. Close to I-81 & I-80. Approved for 126,000 SF building. Office – Under construction, 29,000 SF Class A office building adjacent to downtown Scranton, PA. Various suite sizes, lease or ownership opportunity.

•

Retail – Wilkes-Barre. 11.42 acres across from Wyoming Valley Mall at signalized corner.

•

200 Acres with 54,000 manufacturing in multiple warehouse and residential buildings. Marcellus gas rights available.

•

Food warehouse, 28,000 SF, 3.7 acres with freezer and cooler spaces.

Scranton, PA 570-207-4100

SOUTHSIDE BETHLEHEM, PA 1200 s/f — $900/month Including w/s/t

306-308 Broadhead Ave., Rear Complete with two car attached garage with 10’ ceilings. Individual gas furnace for workshop area and lavatory. Includes 1200 s/f upstairs storage area. Off street parking for two cars adjacent to the building.

info@hinerfeldcommercial.com

Coldwell Banker Commercial Bennett Williams 110 N. George Street; 4th floor York, PA 17401

This space is Commercial Leasing/Sales

Property Management Landlord Representation Tenant Representation

www.bennettwilliams.com

717-843-5555

available 800-584-1062

Site Selection

Single Block 2 3/8 x 3 5/8”

Locations Wanted Consistently Ranked #1 Franchise 45+ Year Track Record

We’re looking for sites in PA Flexible Space Requirements End Cap, In-line, Free Standing Non-Traditional Venues - Hospitals/Colleges Universities/B&I/Stadiums/Casinos/Airports Local Contacts: Eastern PA — Philadelphia PA —

610-366-8120 x 24, Cheryl Green green_c@sdepa.com 610-768-8990, Rawley Shelton rawleyshelton@gmail.com

realestate.subway.com www.subway.com

E L B A L I AVA

Call us @ 800-584-1062

Double Block 5 x 3 5/8”

MAREjournal.com

Mid Atlantic Real Estate Journal — November 11 - 24, 2011 — Inside Back Cover A

Whether you're looking for space or have a property to lease or sell, we have the local expertise and global reach you can trust. PHOENIX INDUSTRIAL PARK ONLINE AUCTION Minimum Bid $1,250,000 (No Reserve) 1011 ROUTE 22 WEST PHILLIPSBURG, NJ 08865

November 17th 11:00 To 3:00 PM Est. To Register Visit www.NAIAuction.com/Route22 Starting Bid: $1,250,000 ($16 PSF) • 76,000 Sf On 4.87 Acres

• Zoning: Highway Business • Office, Research, Retail, Manufacturing, Warehousing • Office: 12,000 SF; Retail: 19,000 Sf; Warehouse: 44,500 SF • 200 Parking Spaces • Heavy Power, 2000 Amps, 3-phase • Multiple Loading Docks & Drive-in Doors • 700’ of Highway Frontage • Strategically Located on Route 22; 2 Miles off Route 78 • 2 Miles To The PA Border & 45 Minutes To NYC

Office/Warehouse for Sale 45,000 SF – CAP RATE: 10%

Building for Sale Redevelopment Site

Office/Warehouse for Sale 10,000 SF Building on 1 Acre

10 Abeel Road, Monroe NJ

37 Old Trenton Road, Cranbury, NJ

259 Prospect Plains Road, Cranbury, NJ

Headquarters Building 45,000 SF Building on 2.3 Acres 20,000 SF of Office & 25,000 SF of Whse Zoned Light Impact Industrial 24’ Ceilings in Warehouse, 4 loading docks & 1 drive-in door Parking: 100 Spaces Located 1/4 mile to NJ Turnpike, Exit 8A Call for Price & Income Details

50,000 SF Building on 2.8 Acres Zoning: M-C: Mixed Use Commercial District Great Site for Redevelopment Corner Location at a Lighted Intersection Immediate Access to Route 130, Route 33 & the NJ Turnpike Exit 8A Priced to Sell at $800,000

Mid-Atlantic Corporate Center 5,000 SF of Office & 5,000 SF of Warehouse Renovated in 2009. Beautiful executive offices & conference rooms, updated kitchens & baths Warehouse; 16-18’ ceilings, New A/C & Heating Units, Upgraded 3 phase Electric Minutes to NJ Turnpike Exit 8A & Route 130 Centrally located between NYC & Philadelphia Priced at $1,350,000

Back Cover A — November 11 - 24, 2011 — Mid

Atlantic Real Estate Journal

MAREjournal.com

Commercial Banking Group Commercial Real Estate

CUSTOM BUILT Your banking service should be as tailored as your business needs. Capital One is a top-10 bank with the expertise and depth to structure custom solutions for you. You’ll work with dedicated Commercial Real Estate Relationship Managers and their team of experts to get what you need from streamlined cash flow to project-based financing. When off-the-shelf solutions won’t do, count on custom banking from Capital One. capitalonebank.com/commercial

$188,000,000

$32,000,000

Office Construction Loan Central Business District Washington, DC

Term Facility/New Community College Campus Union Station District

$34,000,000

$65,000,000

Term Facility/Mall Acquisition Georgetown Washington, DC

Multi-Family Construction Loan Towson, MD

$18,000,000

$15,000,000

10-year Term Facility/Retail Acquisition Fairfax, VA

7-year Term Facility/Multitenant Office Building East End

Washington, DC

NEW JERSEY

SMHOPPING C ENTERS A R E J ID

TLANTIC

EAL

STATE OURNAL

Section B of the Mid ATLANTIC Real Estate Journal

Including 11-unit apartment building located in Edgewater

McConnell & McCrann of Marcus & Millichap broker $5.75 million in sales

DGEWATER, NJ — Associate directors Thomas McConnell, CCIM and Kevin McCrann successfully closed four transactions this past month totaling $5.75 million. The Thomas McConnell first transaction, an 11-unit

apartment building located in Edgewater, was originally purchased as a condo conversion. H o w e v e r, as market conditions changed, the owner decided to reposition the asset back to Kevin McCrann rental apartments. The building sold for

NOVEMBER 11 - 24, 2011

HI-LIGHTS Liberty Elevator Corp. wins Statue of Liberty contract Liberty Elevator Corporation have been awarded the full vertical transportation contract for the Statue of Liberty interior life and safety upgrades. See page 2B.

Kislak completes $9.3m sale of 82 units in Passaic County The Kislak Company, Inc. announced the sale of two multifamily properties in Passaic County. The sales include a 68-unit property in Pompton Lakes. See page 3B.

ALSO INSIDE: EUGENE DIAZ, PRISM CAPITAL PARTNERS, LLC ................4B CENTRAL NEW JERSEY SPOTLIGHT ................................ 5-13B CNJ Project Of The Month: Capital Health Regional Medical Center ..............7-9B PEOPLE ON THE MOVE ......................................................14B ASK AN EXPERT DIRECTORY ..............................................15B ICREW NJ ORGANIZATION ..............................................16B Section B, 20 pages

MAREjournal.com

$1.25 million or a 6.25% capitalization rate. McConnell adds: “The building was suffering from vacancy issues related to past management. The buyer recognized their hands-on management style would improve fundamentals of the building, while creating a stronger yield”. McConnell and McCrann also led the successful transaction of a 15,000 s/f mixed-use building located in Passaic. The building consists of 16 residential units with 3 ground floor commercial spaces. The asset sold for $1.38 million, or a 7.5% capitalization rate. McCrann states: “The seller was a second generation owner looking to exit the market. The buyer, a local investor, is committed to completing capital improvements, which will ultimately create a better return.” McConnell and McCrann also orchestrated the

sale of a garden apartment complex in Clifton. The building consists of 14 units and sold for $1.6 million or a 6% capitalization rate. McConnell adds: “This complex was an example of true pride of ownership, which has been in the family’s real estate portfolio for over 40 years. The extremely well-kept garden complex immediately commanded several competitive offers. We ended up selecting a buyer with strongest terms and the ability to close quickly. This transaction will be noted as one of the highest price per unit closings in the history of Clifton”. McConnell and McCrann also executed an out of market 1031 Exchange for a client looking to exit a management intensive asset and defer their capital gains into a triple net lease property. This marks the 20th 1031

Exchange McConnell and McCrann have facilitated for their clients over the past thirty-six months. McConnell and McCrann initiated the exchange by selling a mixed-use property in Nutley. McCrann states: “This is a perfect example of our firm’s platform. We collaborated with Marcus & Millichap offices outside of New Jersey to assure our client’s timeline was met.” McConnell adds: “We have many apartment owners tired of the demands from managing apartment assets and they are inquiring about our successful 1031 Exchange record. Our local expertise in apartment brokerage and our firm’s national platform creates a “win win” for our clients. We have the ability to leverage resources from brokerage to finance anywhere in the United States.” ■

Western Essex County’s building recognized

Accordia Realty Earns a TOBY award from BOMA FAIRFIELD, NJ —Accordia Realty announced that Greenbrook Executive Center, which sets the standard for class A office properties in the Fairfield/Wayne, N.J. area, has earned The Outstanding Building of the Year (TOBY) award from the Building Owners and Managers Association. At BOMA’s 23rd Annual TOBY Awards Dinner on Wednesday, Oct. 26, at Brooklake Country Club in Florham Park, where buildings were given awards in several categories, the 203,000 s/f project had already taken the top spot in the Renovation category and was among the properties recognized. At the end of the night, in a decision previously known only to the judges, Greenbrook was given the “Grand TOBY” as the most outstanding building in Northern NJ. Jason Bogart, Accordia’s other principal, points out that ad-

Greenbrook Executive Center hering to the high standard set at Greenbrook requires a great team. “We thank Erika Marasco, Chris Hayes and rest of the management staff at Grubb & Ellis for doing their part to earn this award.” Accordia Realty acquired Greenbrook Executive Center in 2006. Joseph Romano and Bogart soon launched a host of improvements. The building received an entirely new, high-

efficiency HVAC system in 2008. Subsequent renovations included upgraded common areas, restrooms, hallways and the stunning, three-story atrium lobby. Among the onsite amenities is a full-service, 3,000 s/f cafeteria with seating for 50. Kurt Kulafsky of Aztec Corp. coordinated design work for the renovation. Grubb & Ellis is the property manager. ■

B Inside Cover — November 11 - 24, 2011 — New Jersey — Mid

office

industrial

Atlantic Real Estate Journal

retail

land

MAREjournal.com

property management

investment

Build On The Power Of Our Network.™ NAI Global is one of the world's leading providers of commercial real estate services. We bring together people and resources wherever needed to deliver outstanding results for our clients. Our clients come to us for our deep local knowledge. They build their businesses on the power of our global managed network.

Local Experts.

Global Connections.

350 OFFICES • 55 COUNTRIES • 5,000 PROFESSIONALS.

1315 Stelton Road, Piscataway, NJ 08854 • tel 732 985 3000 fax 732 985 3022 • www.naidileobram.com

MAREjournal.com

Mid Atlantic Real Estate Journal — New Jersey — November 11 - 24, 2011 — 1B

“WE’VE GOT NEW JERSEY COVERED” WAY BELOW MARKET PRICES – For SALE or LEASE

1,920 SF – PISCATAWAY 300 SF Ofc, 20’ Clgs, 1 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

24,000 SF - LINDEN

33,000 SF - PISCATAWAY

2,000 SF Ofc, 15’ Clgs, 3 TB, 2 DI AVAILABLE IMMEDIATELY

18,750 – 23,000 – 41,750 SF NEW BRUNSWICK 1,000 SF Ofc, 4 TB, DI AVAILABLE IMMEDIATELY

55,555 SF – SOUTH PLAINFIELD 6,000 SF Ofc, 20’ Clgs, 6 TB, DI AVAILABLE IMMEDIATELY

3,000 SF Ofc, 20’ Clgs, 4 TB, DI AVAILABLE IMMEDIATELY

51,750 SF BERKELEY HEIGHTS 8,000 SF OFc, 22’ Clgs, 5 TB, DI AVAILABLE IMMEDIATELY

69,000 SF – Raritan Center EDISON 3,500 SF Ofc, 24’ Clgs, 8 TB, DI, Extra Trailer Pkg, Heavy Power

1,500 - 3,000 to 21,000 SF EDISON Up to 14,000 SF Ofc, 18’ Clgs, TB, DI AVAILABLE IMMEDIATELY

35,224 SF – AVENEL Up to 14,000 SF Ofc, 21’ Clgs, 4 TB, DI DIVISIBLE – Near Exit 12 AVAILABLE IMMEDIATELY

53,500 SF - MILLBURN 4,000 SF Ofc, 16’ Clgs, 10 TB AVAILABLE IMMEDIATELY

20,000 - 30,000 - 72,000 SF EAST BRUNSWICK Up to 15,000 SF Ofc, 21’ Clgs, 9 TB, 2 DI, Extra Land, Near Exit 9 NJ Tpke

For Additional Listings or Information Check Us Out On The Web:

www.bussel.com

Bussel Realty Corp. 2 Ethel Road, Suite 202 A, Edison, NJ 08817 (732) 287-3777 / Fax (732) 287-1090 / brcorp@bussel.com / www.bussel.com The 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.

2B â&#x20AC;&#x201D; November 11 - 24, 2011 â&#x20AC;&#x201D; New Jersey â&#x20AC;&#x201D; Mid

Atlantic Real Estate Journal

Fairfield Corporate Park, Fairfield, New Jersey

MAREjournal.com

NEW JERSEY Interior life and safety upgrades

FOR LEASE 32,000 Square Foot Industrial Building * Warehouse/Manufacturing * 6,000 Square Feet Office â&#x20AC;&#x201C; Can be reduced * 20 Ft Ceiling Height / 4 Tailgate Doors / 60+ Car Parking * Attractive rental rates and terms available.

SHELDON GROSS REALTY, INC. REALTORS Ć&#x201D; Corporate Real Estate Services

80 Main Street, West Orange, NJ 07052 Tel.#973-325-6200 - Fax.#973-325-9090 E-mail: sgross@sheldongrossrealty.com

Liberty Elevator Corp. wins Statue of Liberty contract ATERSON, NJ â&#x20AC;&#x201D; Liberty Elevator Corporation have been awarded the full vertical transportation contract for the Statue of Liberty interior life and safety upgrades. The independently-owned family business received the distinct honor for the second time in 25 years. The Statue is to undergo a complete interior upgrade, which commenced on October 29th, the day after Lady Libertyâ&#x20AC;&#x2122;s 125th anniversary. During this time, the interior of the Statue will be closed; however visitors are encouraged and are still permitted to visit the grounds. Brothers Douglas and Darren Muttart, president and vice president of Liberty Elevator Corp., have teamed up with Joseph A. Natoli Construction Corp., of Pine Brook to install 3 new elevators in the Statue. The Muttarts will be demolishing the existing double-decker hydraulic elevator that their

Douglas J. Muttart and Darren G. Muttart will follow in their fatherâ&#x20AC;&#x2122;s footsteps and install three elevators in The Statue of Liberty. late father, Douglas Muttart installed during the 1986 centennial celebration. Douglas and Darren are enthusiastic to continue their fatherâ&#x20AC;&#x2122;s legacy, as the project has duel significance for both Liberty Elevator Corporation and the Muttart family. â&#x20AC;&#x153;Our family and company have been proud to be associated with arguably the worldâ&#x20AC;&#x2122;s most recognized symbol of American freedom,â&#x20AC;? said Douglas. â&#x20AC;&#x153;Liberty Elevator Corporation is now honored to continue this association and to be a part of a project that will make Lady Liberty safer and

Helios Capital Advisors advises on non-performing multifamily loan WOODBRIDGE, NJ â&#x20AC;&#x201D; Helios Capital Advisors, a New Jersey-based real estate advisory firm have acted as an advisor for an undisclosed client in the acquisition of a non-performing multifamily loan on East 14th St. in NYC. â&#x20AC;&#x153;This deal was completed within just five business days,â&#x20AC;? said Josh Malka managing director of Helios Capital Advisors. â&#x20AC;&#x153;The bank presented certain terms that had to be met. Our clientâ&#x20AC;&#x2122;s certainty of execution and timing was critical to making this deal happen.â&#x20AC;?

The seven-story property measures 12,700 s/f, has 25 residential units and one retail unit. The total loan amount was $2.294 million. â&#x20AC;&#x153;While this was a very low-leveraged loan, our client recognized the potential added-value to the deal and capitalized on it quickly,â&#x20AC;? said Steven Schultz, CEO for Helios Capital Advisors. â&#x20AC;&#x153;This is precisely the type of transaction that Helios specializes in because we use our expertise and focus to help identify assets where our clients will realize the best results.â&#x20AC;? â&#x2013;

more accessible to the millions of people who visit the Statue each year.â&#x20AC;? The three elevators include a handicap-accessible elevator, an emergency elevator and an environmentally friendly machine-room-less elevator (MRL) that will rise 280 feet. Liberty hopes to aid in â&#x20AC;&#x153;upliftingâ&#x20AC;? the economy by complying with the Buy American bid provision. All of the equipment that Liberty will install is American-made and non-proprietary. Upgrades to the stairways, bathrooms and electrical and fire suppression systems will also be completed during the period that the interior of the statue will be closed to the public. â&#x2013;

New Jersey Real Estate Journal a section of the

Mid Atlantic Real Estate Journal P.O. Box 26, Accord, MA 02018 781-871-5298 â&#x20AC;˘ 800-584-1062 fax 781-871-5299

MAREjournal.com

Publisher Michael Campisi mcampisi@MAREJournal.com

Section Editor Karen Vachon editor@marejournal.com

Maintenance â&#x20AC;˘ Modernizatio Maintenanc Modernization â&#x20AC;˘ Cab Refu Refurbishmen bishment â&#x20AC;˘ Installatio Installation

Relationship Driven. Execution Focused.

Meridian Capital Group, LLC proudly advised on ďŹ nancing for the following transaction:

Hudson Square South Only Meridian Capital Groupâ&#x20AC;&#x2122;s powerful financing relationships can consistently achieve the unparalleled results our clients require.

150 Unit Multifamily Property Hoboken, NJ

$33,000,000 Permanent Financing This transaction was negotiated by: Israel Schubert, Managing Director

For over 50 years, Liberty Elevator, one of the largest independent elevator companies in the Northeast, has understood the unique, individual needs of our customers. When it comes to customization, consider this. Out of all the major elevator companies in the United States, Liberty Elevator was selected for the historic renovation of the Statue of Liberty. This truly called for the highest level of customization and the personalized approach mandated by it.

Excellence

FROM THE

Ground up

â&#x20AC;&#x153;Fulfilling Lady Liberty's Vertical Transportation Needs - 1986 & 2011â&#x20AC;? 9V\[L :V\[O 0ZLSPU 51 c c ^^^ TLYPKPHUJHWP[HS JVT

To learn what we can do for you, call us at 1-800-522-4551 or visit our website at www.libertyelevato www.libe elevator.com .com

MAREjournal.com

Mid Atlantic Real Estate Journal — New Jersey — November 11 - 24, 2011 — 3B

NEW JERSEY Vice president Robert Squires handles sale

Kislak completes $9.3m sale of 82 units in Passaic County

1-800-SEBCO-88 (1-800-732-2688)

http: www.SEBCOLaundry.com e-mail stevebreitman@sebcolaundry.com

68-unit property in Pompton Lakes

CELEBRATING OUR 105TH YEAR

Investment Real Estate Brokerage.

108 Residential Units Orange, New Jersey Joni Sweetwood ext 273

86 Residential Units Union City, New Jersey Don Baxter ext 265

56 Residential Units Lindenwold, New Jersey Matt Weilheimer ext 253

WINT ERBE RRY PLAC E

SYLVANIA

CUNGIE

ild

ing

Proposed Rabenold Farms Major Subdivision

#10

ild ing #1 2

Bui ldin Bui

g #9

Building #13

ldin g #5

ild

ing

ild

ing #1

1 STORMWATER MANAGEMENT AREA

SIDEWAL K

RB G

RB IN G

ing

LA (T-

857

g #6

NE (T-

ldin

Cen mun ter ity

Bui

Com

g #3

ild

ldin

Bui

ldin

OAKVIEW DRIVE (T-866B)

Bui

)

g #2

Pool

ldin g #14

Bu ildi #7

Bui

ldin

g #17

ing

ldin

Build

Bui

Proposed Hidden Meadows Major Subdivision

Bui

g #15 DU

Bui

ldin

g #16 Bui

THE

R WA

ldin

g #18

LAN

)

SETBAC

544

(T-

/ BUILDIN

EASEME

PPL

FEA

KRO

ROC

STORMWATER MANAGEMENT AREA

BUILDING

SETBACK

LINE

PEN NYC RES S CIRC

TIL

RED

CLO

VER

CIR

CLE

GHM AN STR EET (S.R . 100 2)

The Pompton Lakes property consists of a 68-unit garden apartment complex on over four and a half acres located off of Route 287. All of the units are large one-bedroom apartments with open kitchens, balconies and individual HVAC units. Constructed in the mid-1970s, it had been family owned and managed for over 35 years. The tenants are responsible for heat, hot water and electricity usage. “This property was even more attractive since the tenants are responsible for their utility costs and Pompton Lakes does not have any rent control,” added Squires. The seller was represented by Brian Fahey, Esq. of Bedminster, New Jersey and the purchaser was represented by Andrew Niadeck, Esq. of Nutley, New Jersey. Financing was arranged by Brian Greenfield of M. Tuck Capital Associates. At the time of closing, the property was 100% occupied. “The loan closed in a short 40 days,” added Squires.” “Given some of the challenges with financing today, this was one of the fastest loan closings that I have experienced.” The Clifton property contains 14 one-bedroom apartments and 10 garages with additional parking in a newly paved lot. It is located in a quiet established residential section of Clifton close to the Garden State Parkway and Route 46. ■

The Finest In Metered Laundries

OMPTON LAKES — The Kislak Company, Inc. announced the sale of two multifamily properties in Passaic County. The sales include a 68-unit property in Pompton Lakes for $7.9 million and a 14-unit property in Clifton for $1.4 million. Vice president Robert Squires represented both parties, private investors, in each transaction. “The market for multifamily properties, especially in northern New Jersey, remains very strong,” said Robert Holland, senior vice president and comanaging director. “These are strong properties that rarely trade in very good locations.” “Quality multifamily properties are in such high demand and the supply is limited,” said Squires. “They remain extremely desirable investments. When the owners engaged Kislak they were aware of our long history of success and were confident that we would optimize their properties’ value.”

SEBCO

Laundry Systems“

26 Residential Units Passaic, New Jersey Robert Squires ext 287

19,546± SF New Retail Center Newark, New Jersey Scott Davidovic ext 290

multifamily. The Kislak Company, Inc.

retail.

36 Acres for 288 Approved Residential Units Upper Macungie Twp., PA Robert Holland ext 285

office. www.kislakrealty.com 732 750 3000

4B — November 11 - 24, 2011 — New Jersey — Mid

Atlantic Real Estate Journal

MAREjournal.com

NEW JERSEY By Eugene Diaz, Prism Capital Partners, LLC

Debt-equity imbalance, slow growth challenge investors

he New York tri-state commercial real estate investment market is flush with equity capital moving into the final months of the year, and interest in broad-class acquisitions Eugene Diaz across all sectors has risen dramatically. The primary driver for this demand stems from a desire for alternative, fixed-income yields other than what is available in the bond and government

securities markets. The recent turmoil in sovereign debt markets has further fueled this trend. Yet as money swells on the equity side, it is not being matched by broad-based interest in the debt capital markets. As a result, while equity interest in real estate is growing, the overall conservativism in the lending markets remains, and capital for debt financing remains highly stratified and particular. To the extent that financing is available, almost exclusively for stabilized assets, pricing is very attractive. However, it is not broad based.

It is not available for everyone, and it is not coming from everyone. A bank may like a deal one day and not the next. This imbalance between debt and equity clearly points to continued deleveraging in the real estate markets. Only well-heeled investors with access to cash will successfully pursue opportunities. Those investors are seeking stabilized properties regardless of asset type. On the other end of the spectrum, risk trades remain limited. Turnaround stories by companies involved in opportunistic investments are tepid in conjunction with the generally weak economic rebound. That being said, we continue to see evidence of improving corporate profitability, which is generating additional market recovery in the office and industrial sectors. Those of us who do focus on value-add projects recognize that the right opportunity at the right price can still be found. This time around, knowing it when you see it is far more difficult. For example, last year our firm re-acquired 399 Jefferson Rd., a 180,000 s/f, class A office building in Parsippany, NJ. We initially owned the property in a joint venture from 2003 to 2006, but sold it to a user when the sole tenant chose not to renew. That user never took occupancy. We made the repurchase at a significantly advantageous price, once again drawn by the property’s quality, highly desirable market and excellent accessibility. Within months, we leased 85,000 s/f there, to Pinnacle Foods Group. The firm recently expanded, adding another 11,000 s/f to its commitment, and we are in active negotiations for the balance of the building. The bottom line remains that opportunities always exist. The landscape is continually changing, and those of us who want to be involved may have to sit patiently in traffic, changing lanes waiting for a shift in flow to rapidly move ahead. At the same time, we need to make some adjustments to our new reality. Slow economic growth, lack of broad-based debt capital and competition in the equity space all are combining for moderated returns. As such, we need to get comfortable with a new normal for investment returns. These continued on page 14B

NEW JERSEY SPOTLIGHT SHOPPING C ENTERS CENTRAL NEW JERSEY MAREjournal.com

Mid ATLANTIC REAL Estate Journal — Southern New Jersey — November 11 - 24, 2011 — 5B

Totaling 1,290 units in the first three quarters of 2011

Gambuzza, Federgreen of Marcus & Millichap close $99 million in multifamily sales

LMWOOD PARK, NJ — Nat Gambuzza and Lauren Federgreen of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has ne- Nat Gambuzza gotiated nearly $99 million in multifamily investment sales totaling 1,290 units in the first three quarters of 2011, according to Michael Fasano, vice president and regional manager of the firm’s New Jersey office. In all, Gambuzza, a vice president investments in the New Jersey office, and multifamily investment specialist Federgreen, have closed 22 transactions – including one land loan sale – since January. Some transactions of note include the sale of an 11-build-

ing portfolio totaling 172 units in Rahway, N.J. The properties, which were sold by the original developer, commanded a purchase price of $13.7 million or $79,651 per unit. Another notable transaction includes the sale of Stoneybrook Gardens in Plainfield. The 70-unit garden complex traded for $5 million. “This transaction faced several hurdles due to the fact that most similar properties in the area are and were in some sort of distress,” said Gambuzza. “We had to overcome that by ensuring the quality of the asset, the value-added component and the ease of being able to finance the transaction.” The majority of transactions closed by Gambuzza and Federgreen involved private investors vying for smaller multifamily assets, distressed deals including loan sales and REOs, and large Section 8 housing complexes. “There is pent up demand for apart-

ment buildings of any type in both Northern and Southern New Jersey as interest rates continue to drop,” says Federgreen. “I am sure this will elicit a flurry of transaction activity in the second half of 2011.” “As a result of this low interest-rate environment and continued fear among investors to place their capital in the volatile stock market, we are seeing a lot of new partnerships and groups teaming up to acquire properties,” says Gambuzza. “Specifically, we are seeing a number of syndicators and 1031 exchange investors stepping up their activity levels in the market. Strong multifamily fundamentals haven’t hurt us either. We are seeing vacancy rates dip below 5 percent and rents beginning to grow again.” “Local, out-of-state and even foreign investors are active in the New Jersey apartment market,” Gambuzza continues. “In addition to seeing out-of-

area purchasers acquiring multifamily product, we are seeing a shift within the state: North Jersey buyers are now looking at South Jersey in an effort to purchase at a lower price per unit.” For example, Gambuzza and Federgreen satisfied a 1031 exchange investor’s requirements by trading Riverside Gardens, a 30-unit apartment complex in Rahway, N.J., at a price of $2,550,000 or $85,000 per unit, for the 80-unit Haddon Crossings complex in Haddon Town-

ship, in Southern New Jersey which sold for $4,900,000 or $61,250 per unit. In another transaction, a two-property portfolio located in Haddon Heights and Oaklyn, both Southern New Jersey towns, was sold by an investment group to a North Jersey investor. Gambuzza and Federgreen have also played a role in some larger project-based Section 8 complexes that have traded within the past nine months. ■

Klear of NAI Mertz completes lease transaction of 19,900 s/f SOMERSET COUNTY, NJ — NAI Mertz, Realtor, has announced the signing of a 19,900 s/f industrial lease at 65 Clyde Rd., Suite D, in Somerset, Somerset County. Jonathan Klear, sales associate, represented Bunge Amorphic Solutions, the new

tenant, a national manufacturing pharmaceutical company that does research and development activities associated with the commercialization of a specialty chemical product. The landlord of the 158,700+ s/f building is 65 Clyde Road, Inc. ■

Pennant Capital Mgmt. signs lease at Summit Executive Ctr. SUMMIT, NJ — The ownership of Summit Executive Center, a partnership led by industry veteran Mark Yeager, announced that a New Jersey investment fund has signed a lease to become the second major tenant at the new, state-ofthe-art business center. When completed, Summit Executive Center will feature 65,000 s/f of class A, headquarters-quality office space in Summit’s downtown central business district. Pennant Capital Management, LLC signed a lease for 13,000 s/f and is expected to take occupancy in July, 2012. The investment advisor, which was founded by Alan Fournier in 2001 and currently manages more than $5.3 billion in investor capital, is relocating from Chatham. Earlier this year, a leading global professional services firm signed a long-term deal to be the site’s anchor tenant, which resulted in the building being nearly 50 percent leased before the commencement of construction.

“Pennant’s decision to relocate to Summit Executive Center further validates our vision in transforming this property into one of New Jersey’s premier office environments,” said Yeager. “This lease reflects our belief that companies are increasingly seeking out topquality space in prime locations that offer direct access to public transportation, airports and multiple area conveniences.” Jones Lang LaSalle executive vice president J.C. Giordano represented the tenant, while CB Richard Ellis executive vice president Jeffrey L. Heller, SIOR, represented the landlord in the transaction. “We understand the value of having a prestigious address that will afford our employees numerous benefits that come from being in a new, cuttingedge office and first-rate location,” said Fournier, Founder of Pennant Capital Management, LLC. “We look forward to growing our business at Summit Executive Center and being part of the Summit central business

district.” Yeager and his partners purchased the site of Summit Executive Center, formerly known as the Summit Medical Group Building or One Deforest Avenue, earlier this year. The previous ownership had received final site plan approval in mid-2008, but the site has sat dormant ever since due to the challenging economy. The redevelopment will consist of the renovation and redesign of an existing four-story, 40,000-square-foot office building along with the construction of a 25,000-square-foot addition, transforming the entire development into a LEED-certified, Class A business center. In addition to the building’s first-class, high-end finishes, one of the property’s key amenities will be a two-level, 200-car parking structure. The number of spaces represents 3.5 spaces per 1,000 square feet of office space – an above average ratio of parking spaces per building square footage in downtown locations. Additionally, more than

50 percent of the parking will be covered, and the structure will be directly accessible to the office building via access from both levels of the parking deck. Construction on the project is underway and is expected to be completed by late spring of 2012 in order to accommodate tenant move-ins by the summer of 2012. Summit Executive Center is located in a central downtown location, two blocks from a New Jersey Transit rail link that provides Midtown Direct service, as well as direct lines to Hoboken and Newark. Just 20 miles from Manhattan, Summit is an affluent Union County suburb with access to main routes of transportation including Interstate 78, Route 24, the Garden State Parkway and the New Jersey Turnpike. Newark Liberty Airport and Morristown Corporate Airport are both approximately 15 minutes away. The downtown Summit area, which is within walking distance of the build-

ing, features more than 200 stores and restaurants. Local amenities include the Short Hills Mall, Short Hills Hilton, Grand Summit Hotel, Summit Playhouse, the DeBary Inn and the Visual Arts Center of New Jersey. Mark Yeager is founder and principal of MRY Associates, LLC, a private equity real estate organization seeking value added commercial and multi-family investment and development opportunities in the Northern New Jersey marketplace. With 26 years of experience in commercial real estate, Yeager previously served as president of The Gale Company, where he oversaw the investment of more than $3 billion of institutional funds and the acquisition or development of more than 15 million square feet of commercial space throughout the greater New Jersey marketplace. He also previously served as executive vice president of Mack-Cali following the company’s acquisition of Gale. ■

6B — November 11 - 24, 2011 — New Jersey — Mid

Atlantic Real Estate Journal

MAREjournal.com

CENTRAL NEW JERSEY CB Richard Ellis’ Neuer and Sarno represents owner

Simson of Newmark Knight Frank represents PNC Bank in 131,363 s/f lease extension AST BRUNSWICK, NJ — Newmark Knight Frank represented PNC Bank in a 131,363 s/f lease extension at Tower Center II. The new lease includes the exchange of two floors and remodeling of David Simson the current layout for increased efficiency. David Simson, vice chairman/COO of Newmark Knight Frank’s New Jersey operations,

Tower Center II

represented the tenant in this transaction. “We are delighted with the outcome of these negotiations and discussions on behalf of PNC. It was an opportune time to upgrade the space, allowing PNC to enhance its corporate image for years to come,” noted Simson. PNC is one of the leading financial institutions throughout the country. For more than 150 years, PNC has been committed to providing its clients with service and powerful financial expertise to help them meet their goals. Tower Center is a 25-acre

complex containing two office towers and the luxury 405-room Brunswick Hilton Hotel and Conference Center. Airports in New York, Newark and Philadelphia are within easy reach, and a mass transit center is conveniently available

Cushman & Wakefield brokers deal

Farer Fersko reps KTR Capital Ptrs. in acquisition CARTERET, NJ — Jack Fersko and his team of John Hague, Regina Schneller and Anthony Giountikos at West-

Environmental Brownfields Real Estate Solar and Green Building Redevelopment Condemnation Eminent Domain Land Use & Zoning Litigation

600 South Avenue, Westfield, NJ 07091 tel

908.789.8550

fax

908.789.8660

farerlaw.com

at the site. The ownership, a pension fund with an asset management team advised by Sentinel, was represented by Jeremy Neuer, senior VP, and Joseph Sarno, executive vice president, of CB Richard Ellis. ■

field-based law firm Farer Fersko served as real estate, land use and public finance counsel to private equity firm KTR Capital Partners on its recent acquisition of the iPort 12 International Trade and Logistics Center in Carteret, New Jersey. The firm’s representation addressed a broad range of issues including those related to right of access and title, the transfer of permits, and the transfer of access rights, a process which required extensive negotiations with multiple public and quasi-public entities. Farer Fersko also negotiated and orchestrated the assignment, assumption and amendment of existing public financing through the New Jersey Environmental Infrastructure Trust (EIT) and the NJDEP, which was secured by Payments in Lieu of Taxes pursuant to a financial agreement under New Jersey’s long term tax exemption law. This process required approvals from the Borough of Carteret, the Carteret Redevelopment Agency, the EIT (subject to the Governor’s right of veto), and the Commissioner of the NJDEP. The iPort 12 site is located just off Exit 12 of the NJ Turnpike. Redevelopment of the 70 acre former brownfield site, which was for many years a municipal solid waste landfill, was completed in 2007. KTR’s acquisition of the 1.26 million square foot warehouse space included the negotiation of a short sale with the original developer’s lender and the assumption of public financing originally obtained to fund environmental remediation of the site. Attorney Robert Crespi of law firm Wolff Samson in West Orange served as environmental co-counsel on the deal, which was brokered by Cushman & Wakefield.

7B โ November 11 - 24, 2011 โ New Jersey โ Mid

Atlantic Real Estate Journal

CENTRAL NJ PROJECT OF THE MONTH

%&4*(/ t '"#3*$"5*0/ t */45"--"5*0/

24-Hour Service โ Maintenance Contracts Commercial โ ข Industrial โ ข Institutional โ ข Residential

8 # & $FSUJmFE Free Estimates Perform Hydrant Flow Tests Standpipes Wet & Dry Systems City Certiรฐcation Inspections Extinguishers Hoods

1707 Imperial Way โ ข P.O. Box 39 โ ข Thorofare, NJ โ ข 08086โ ข Fax: 856-845-5194 Main Number: 856-845-4800

1-866-MAJEKNJ

MAREjournal.com

8B — November 11 - 24, 2011— Central New Jersey — Mid 11:00 AM General11/4/11 Contractor

TBC MIDATLANTIC Ad Final

Atlantic Real Estate Journal

MAREjournal.com

Mid Atlantic Real Estate Journal — Central New Jersey — November 11 - 24, 2011 — 9B

MEP Engineer

Page 1

Central New Jersey Project of the Month The Capital Health MOB & Surgery Center - A medical work of art

Healthcare construction: Challenging, exciting and rewarding every day

H Building rewarding relationships through the power of people. Preconstruction Construction Management General Contractors 1124 Chester Pike • Crum Lynne, PA 19022 610.521.3300 • www.targetbuilding.com

Commercial Painting Contractor

opewell, NJ — The Capital Health Medical Office Building and Surgery Center opened on November 6 off Rte. I-95, three miles north of Sesame Place. The 360,000 s/f MOB is part of the Capital Health Regional Medical Center project that is the largest HUD-funded development in New Jersey history. The Capital Health Medical Office Building is comprised of five full floors and includes Oncology treatment facilities, dialysis and infusion areas, pharmacy and laboratory facilities, Infant care area and individual offices for physicians and staff. The design teams, Target Building Construction, Anchor Health Properties and Capital Health have successfully built the 360,000 square foot MOB inside the shell provided by Skanska. For a year and a half, Target Building Construction hosted bi-weekly preconstruction meetings at their headquarters in Crum Lynne, PA. Over the course of these meetings, Anchor Health Properties, Array Healthcare Solutions, AKF Group, and Capital Health had representatives in attendance to plan the schedule and review logistics for the MOB portion of the Hopewell project. “During the preconstruction phase, we were able to establish a budget, interview subcontractors and set our plan in motion to ultimately

   

Capital Health Regional Medical Center determine the success of our project,” advised Rich Goodman, Target Building Construction president. “The monthly meetings we attended at their offices were well organized and informative and were essential to kick-start our project. Our experience working on the Capital Health MOB with Target Building Construction has been successful,” said Bill Cook, AIA of Array Healthcare Facilities Solutions. “Comprehensive preconstruction planning facilitates a smooth and successful project,” reports Pat Pondok, Target Building Construction secretary and treasurer. The Capital Health MOB was extremely challenging from any project management position. The size and complexity of the project required all the experience we jointly possess and put it to the test every day. Daily technical challenges such as

equipment installation preparations were further complicated by equipment parameters and upgrades. Based on the rapid advancements in medical technologies, decisions were made every day on how, when and where to provide the latest technologies in each specialty area at hospital opening and to provide alterative solutions. All of this was built into a medical office building that is one of the most technologically advanced hospitals on the east coast. Anchor Health Properties’ Paula Crowley said, “Over the past five years, Anchor has worked with Target on projects ranging in size from $5k to $30m in value. Target proves time and again that they have the expertise we need for our healthcare development projects from imaging suites to surgery centers.” The vision for the MOB is to create an environment where

Capital Health Linear Accelerator Capital Health CyberKnife separated from the core hospital AKF partner David Moreno, distribution services in an effort PE, adds that “Target Building to accelerate overall construction Construction and AKF have on the site. In addition, fit-out, had a great relationship over MEP and construction services the past ten years working at will be provided as physicians state-of-the-art facilities. In lease space in the building. The every case, Target has been MOB is also integrated with the truly professional, caring and overall energy model and meets responsive to one sentiment the LEED Silver rating require- – ensuring the success of the ments for new construction. project for the Owner.” n

physicians are on the premises and completely accessible to their patients. The first floor serves the Regional Cancer Center with complete diagnostic imaging and radiation therapy, including CyberKnife. The hospital’s executive administrative offices and conference rooms are also located on the first floor. The second floor is designed for ambulatory surgery and infusion, while the remaining floors house perinatal and dialysis services as well as additional patient examination spaces. AKF Group integrated the main central utility plant services to serve the Medical Office Building. A separate mechanical room located atop the MOB houses seven air handling units, pressure reducing stations, exhaust fans and electrical distribution panels. The MOB interior construction and mechanical, electrical and plumbing (MEP) services were

Project Team General Contractor.................Target Building Construction MEP Engineer....................................................AKF Group Mechanical Contractor................. The Barham Group, LLC Electrical Contractor.......Hatzel and Buehler, Incorporated Comm’l. Painting Contractor.... Schnoll Painting Corporation

M. Schnoll & Sons Inc. • 3151 Weikel Street • Philadelphia, PA 19134



Comm’l Flooring Contractor..Facilities Service Group, Inc.

Proud to be part of “The Capital Health Medical Office Building” Project Team

Hatzel & Buehler, Inc. www.hatzelandbuehler.com

J   

Fire Sprinkler Systems........................ Majek Fire Protection

For over four generations, Schnoll Painters have satisfied thousands of customers in all phases of industrial, commercial and institutional painting. Combining old world craftsmanship with the latest technological advances in surface preparation and coating,

Call (215) 634-5000 www.schnollpainting.com





Electrical Contractor



Electric Construction Since 1884

MARKETS

SERVICES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

                                  

10B — November 11 - 24, 2011 — New Jersey — Mid

Atlantic Real Estate Journal

MAREjournal.com

CENTRAL NEW JERSEY The Trenton Times relocates to Riverview Plaza

Pratico Sr. & Jr. of Richardson Comm’l. Realtors complete transactions totalling 85,882 s/f

RENTON, NJ – Richardson Commercial Realtors announced the sale of the property located at 500 Perry St. to New Jersey Precast Corp. The property is 82,196+ s/f and was formerly the Michael Pratico Sr. headquarters of the Trenton Times, a long standing local community newspaper. New Jersey Precast plans to use the building for their business offices and for storage of build-

500 Perry St.

15 West Front St.

MANCO PROPERTY Trenton Warehouse

IBIS PLAZA OFFICE SUITES Hamilton Township OfÀ OfÀce ce Building

A 40,000± square foot warehouse that is available for sale. Ideal for light manufacturer or distributor. Well secured and has 27+ foot ceiling heights.

A 120,000+ SF ofÀce park in two buildings with small spaces starting at 892+ square feet and a total of 42,103+ square feet available for lease. This is a prime location with affordable rents approximately two miles away from Hamilton Train Station.

AAMCO PROPERTY Hightstown Warehouse

STATE GROUP BUILDING Trenton OfÀ OfÀce ce Building

A 13,200± square foot industrial type building, divisible to 4,000± SF available for sale. This is ideal space for warehouse, light manufacturing or automotive use.

A 15,000± SF ofÀce building available for sale or lease. This is a corner location with great exposure and visibility. Onsite parking is available.

ing materials, such as pre cast concrete, which is used in the construction of bridges. This property is a Tr e n t o n landmark location at the interchange with Route 1 and has excellent access to infrastrucMichael Pratico Jr. ture. Michael Pratico Sr., the agent for the property, was excited to find a buyer who can make use of a under utilized property in a great location in Trenton. The Trenton Times has relocated to Riverview Plaza, the new prestigious office building that is located directly adjacent to the Mercer County Waterfront Park. They are happy to find another location in the City of Trenton that works well for their needs and still keeps the paper involved in the local Trenton community. In a separate transaction, Richardson Commercial Realtors announced the lease of 3,686+ s/f of office space on the first floor at 15 West Front St. to Insight Consulting Services (ICS). The new tenant was looking to expand their firm’s space and needed a nicely appointed suite in a location close to the state house. 15 West Front Street was able to meet their needs and allowed them to double the size of their office space because of the excellent rental rates, close location to the statehouse and off street parking. “Insight Consulting Services is a full service government affairs, strategic communications and campaign consultancy firm with decades of experience in the healthcare and non-profit arenas at the local, state and federal levels,” said Peter Lillo, principal of ICS, “the Jasko Building not only has the space we need, but room to grow in the months and years ahead as we expand our efforts.” Michael Pratico Jr., the listing agent for the property, was happy to help a tenant expand to this downtown location. He feels it is “exciting to see the market begin to recognize this building for what it is: An attractive, nicely appointed property a stone’s throw away from the statehouse. ICS will make an excellent addition to the building.” ■

MAREjournal.com

Mid Atlantic Real Estate Journal — New Jersey — November 11 - 24, 2011 — 11B

CENTRAL NEW JERSEY Cullen Associates

The ECH2O: The industry’s most effective, versatile grease removal system Pumps, UL Listed NEMA 4X Control Panel, Pressure Water Level Control, requires no floats, Schedule 80 Face Piping and Fittings, Multiple types of covers, Fully Pre-assembled Lift Station available. (1) Eliminates Pumping Charges, (2) Promotes good housekeeping and management practices, (3) Odorless operation, (4) Patented process that treats restaurant wastewater to exceed EPA, (5) State and local discharge standards, (6) Recovered F.O.G. extracted to container allows for easy

he ECH2O is the industry’s most effective, versatile grease removal system. Grease Removal Systems Inc. has created the leading grease removal brand by specializing in providing high quality grease removal devices and solids interceptors, which cater to the needs of the world’s largest customers. It is a patented system that treats restaurant wastewater to exceed EPA standards. Effluent is reduced to 20-100 parts/million. It’s odorless operation, easy installation, along with the ability to customize this product to fit your specific needs, will leave you with less maintenance, reduced annual cost and most importantly, peace of mind. The ECH2O Grease Removal System will automatically remove oil, grease, fats, and intercept solids before they cause costly damage and surcharges. It is an engineered system as defined by the International Plumbing Code and is the most effective method at obtaining compliance with local, state and government regulations. To clean out clogged sink drains in any commercial property, it cost upwards of $2200 dollars or more, this of course depending on the damage. If the damage is bad enough you’re looking at thousands more, not to mention the fine you will receive from the city for causing such damage. The ECH2O LS Lift Station includes a fiberglass sump with anti-flotation flange, control box with power, pump and level control connects, gasketed and bolted access lid, inlet and vent fittings, overflow baffle, 2” outlet, high temperature submersible sump pump(s) which are controlled by a pressure sensing water level control. The pumps can handle capacities up to 45 gallons per minute and heads up to 22 feet and are low r.p.m. to reduce oil emulsification. If the sump becomes filled with wastewater, the wastewater can flow under an oil dam and through the overflow, trapping the oil and grease in the collection chamber but still allowing effluent to flow into the sewer. Standard Features: Simplex or Duplex Operation, Fiberglass basin with Anti-flotation flange. Direct bury installation, requires no vault, High Temperatures Submersible

“THE PUMP BOYS”

10 Memorial Drive Neptune, NJ 07753 732-988-9600

www.CullenAssociates.com

disposal, (7) Easy Plumbing and Electrical Installation, (8) Strong and corrosion resistant PVC construction, (8) Mazeamax media removes oil droplets as small as 20 micron. Applications for the Solids Interceptors: Compartment Sinks - Pre-rinse Stations – Dishwashers - Mop Sinks - Trunk Drainage Filtration -Multiple Fixtures. Cullen Associates was founded in 1954 by Hugh J. Cullen and developed by his son Richard Cullen. ■

12B — November 11 - 24, 2011 — New Jersey — Mid

Atlantic Real Estate Journal

MAREjournal.com

CENTRAL NEW JERSEY Class A site offers distinctive architectural elements and convenient location

Bergman Real Estate Group awarded 1001 Durham Avenue assignment

OUTH PLAINFIELD, NJ — Bergman Real Estate Group was recently named the leasing and property management agent for 1001 Durham Ave., which is also known as the Tumi Building. Located on a five-acre tract in Middlesex County, the class A, 110,000 s/f building was constructed in 1986 and renovated in 2006. The architecturally distinct building features three stories in a rectangular wing and four stories in a circular wing and has a typical floor size of 36,000 s/f.

Tumi Building

North-East Realty, LLC has retained Bergman for the assignment. “This class A property has all of the earmarks required by today’s tenants, such as quality finishes, ample parking and a convenient location directly off of I-287 at the Durham Avenue exit,” said John Osborne, executive director of leasing and marketing for Bergman. “We look forward to identifying high-caliber companies to add to the tenant roster in the near future.” The site retains high vis-

ibility from I-287 off of Exit 4 and is close to I-78, Rtes. 22, 202/206, the NJ Tpke. and Garden State Pkwy. The site is also conveniently located near many restaurants, hotels and shopping venues and is approximately 45 minutes from New York and 25 minutes from Newark Liberty Airport. Currently, there are two availabilities of 5,770 and 9,357 s/f in the complex. Both units offer the flexibility to divide down to smaller units of 2,000 s/f. To learn more about leasing opportunities at 1001 Durham Avenue or other Bergman Real Estate Group properties, contact John Osborne or Kelly Ziegenfuss. ■

CIS’ Foglio named as finalist in two top awards events

OPENING DOORS | BUILDING COMMUNITIES | CHANGING LIVES

The Clare Estate, Bordentown, NJ

Neighborhood Revitalization Residential Property Acquisition & Preservation Affordable & Special Needs Housing Development

Waters Edge Crescent, Elizabeth, NJ

Public & Private Financing & Subsidy Programs Residential Property Management & Compliance Multifamily Construction, Redevelopment & Rehabilitation

1970 Brunswick Avenue, Suite 100, Lawrenceville, NJ 08648 609.298.2229 www.CISnj.com

L AW R E N C E V I L L E , N J — Christiana Foglio, founder/ owner and chief executive officer of Community Investment Strategies (CIS), Inc. has been honored as a finalist in two top awards Christiana Foglio competitions – NJBIZ Business of the Year and Stevie Awards for Women in Business. Foglio has been named as a finalist in the Executive of the Year category in the 2011 NJBIZ Business of the Year awards program. Winners will be announced at a formal award ceremony to be held on Dec. 5, 2011 at the Palace at Somerset Park in Somerset. Additionally, Foglio has been selected as a finalist in the 8th Annual Stevie Awards for Women in Business, which honors women executives, entrepreneurs, and the companies they run – worldwide. This year’s Stevie Award winners will be announced at an awards gala at the Marriott Marquis Hotel in NYC on Friday, Nov. 11. “I am honored to be a finalist for business excellence amongst such inspiring entrepreneurs represented by this year’s finalists,” said Foglio. “My professional excellence is driven by my desire to revitalize communities, leaving them better than when we found them.” ■

MAREjournal.com

Mid Atlantic Real Estate Journal â&#x20AC;&#x201D; New Jersey â&#x20AC;&#x201D; November 11 - 24, 2011 â&#x20AC;&#x201D; 13B

960 Holmdel Road, Holmdel, NJ 9,485 sq.ft.

555 Route One South, Iselin, NJ SQ FT

1 Kalisa Way, Paramus, NJ 2,852 sq.ft.

SUPERIOR

510 Thornall Street, Edison, NJ SQ FT s SQ FT s SQ FT 8,283 sq.ft.

155 Passaic Avenue, FairďŹ eld, NJ SQ FT s SQ FT SQ FT s SQ FT

100-110 So. Jefferson Road, Whippany, NJ SQ FT s SQ FT s SQ FT SQ FT s SQ FT

25 A & B Vreeland Road, Florham Park, NJ SQ FT s SQ FT s sq.ft. SQ FT s SQ FT s sq.ft. SQ FT s sq.ft.

OFFICE SPACE AVAILABLE S FLEXIBLE & CREATIVE OWNERSHIP

www.bergmanrealty.com

1001 Durham Avenue, South PlainďŹ eld, NJ sq.ft. s sq.ft.

25 East Spring Valley Road, Paramus, NJ SQ FT

299 Market Street, Saddle Brook, NJ SQ FT s SQ FT s SQ FT SQ FT s SQ FT

333 Meadowlands Parkway, Secaucus, NJ SQ FT s SQ FT s SQ FT SQ FT s SQ FT

45 Eisenhower Drive, Paramus, NJ SQ FT s SQ FT s SQ FT SQ FT s sq.ft.

For Leasing Information Please Contact:

John G. Osborne, Executive Director, Leasing, 732-855-8600 x 115 Kelly Ziegenfuss, Assistant Director, Leasing & Marketing, 732-855-8600 x 109

14B — November 11 - 24, 2011 — New Jersey — Mid

Atlantic Real Estate Journal

MAREjournal.com

PEOPLE ON THE MOVE Of assisted living services for Long Branch

Office leasing group headed by Giannone

Care Strategies LLC appoints Barbato vice president

Cushman & Wakefield hires five-person team

ONG BRANCH, NJ — Mary Ann Barbato, B.S.N., L.N.H.A., C.A.L.A., has been named vice president of assisted living for Care Strategies, LLC. She will oversee the administration, staff and Mary Ann Barbato operations of the company’s assistive services offered on-site at affordable and market-rate senior housing communities. Barbato will spearhead the expansion of Care Strategies’ on-site services throughout New Jersey, including Monmouth, Burlington and Union counties. Care Strategies is an affiliate of Community Investment Strategies (CIS), Inc., a fully integrated real estate company specializing in the development, construction and management of multi-fam-

ily housing. CIS’ communities include 55+, senior housing and mixed-use redevelopments as well as market-rate and affordable housing. “The addition of Mary Ann to the CIS family of services will help us expand upon our mission to address the public housing and health issues impacting seniors and adults with flexible, need-based, quality medical and personal assistance services, in collaboration with family members and personal physicians,” said Christiana Foglio, CIS founder and CEO. “I am so pleased to be a part of Care Strategies’ innovative approach to at-home senior care,” said Barbato. “The goal here is so simple, yet so novel – to help people, who do not have the financial means to reside in an assisted living facility, remain in their own apartment homes instead of a long-term skilled nursing care facility.”

An industry veteran with more than 25 years in the senior care and assisted living field, Barbato formerly served as administrator of CareOne at Wall, in Wall Township, and held the positions of director of nursing and regional director of assisted living facilities with the company. She also was a partner and principal consultant with Professional Assisted Living Services LLC; corporate director of quality for Presbyterian Homes of New Jersey Foundation; and administrator/assistant administrator of The Grove Health Care Center. A graduate of Monmouth University with a bachelor’s of science in nursing, Barbato earned her associate’s degree in nursing from Fairleigh Dickinson University. She is a registered nurse, certified assisted living administrator and licensed nursing home administrator. ■

EDISON, NJ — Cushman & Wakefield, Inc. announced that a seasoned, five-person office brokerage team headed by Paul Giannone has joined the company’s Edison office. The new h i r e s , w h o Paul Giannone are transitioning to Cushman & Wakefield from Jones Lang LaSalle, include Giannone, executive vice president, of Ocean Twp.; Paul Hindes, executive director, of Westfield; Kevin Carton, senior director, of Brielle; Todd Elfand,

senior director, of Branchburg; and Charles Cavallo, associate director, of Hamilton. “Cushman & Wakefield has one of the best brands in the country, if not the world,” Giannone said. “This is a great opportunity for us to both take advantage of and contribute to that distinction. And while our team has completed transactions throughout the Mid-Atlantic region, our concentration always has been in Central New Jersey, which makes our joining the Edison operation a natural fit. We look forward to working toward increasing the firm’s regional presence and market coverage.” ■

JDA group supports The American Cancer Society

NAI Hanson adds De Mattheis to oversee property management subsidiary HACKENSACK, NJ — NAI James E. Hanson announced the hiring of industry veteran Steve De Mattheis, CPM to serve as CEO of the company’s property management s u b s i d i a r y, NAI Hanson Management Steve De Mattheis LLC. Under De Mattheis, NAI Hanson Management will offer an enhanced spectrum of property management services for the company’s 3.9 million square feet of assets owned and under management, encompassing

office, industrial/warehouse and retail properties located throughout the Northeastern U.S. De Mattheis’ vast experience overseeing the repositioning of distressed properties establishes NAI Hanson Management’s expertise in helping banks, financial institutions and asset management companies address the needs that are specific to the stabilization of non-performing assets. The company is equipped to handle every aspect of property management, construction management, plant and physical maintenance, tenant leasing and fit out, and legal and environmental consulting.

“We have been involved in property management since our company’s inception, and the addition of Steve to our team adds to a strong foundation that will help us grow this important service area,” NAI Hanson president William C. Hanson, SIOR, said. “Steve is a great fit for this enterprise and brings strong relationships as well as a keen understanding of the property management needs of owners to our organization. Additionally, we believe his experience working with distressed properties and assisting banks with their property management needs will prove to be a valuable asset.” ■

Sullivan joins David Landau & Associates as managing dir. FAIRFIELD, NJ — David Landau & Associates, LLC, a provider of advisory services to private equity, hedge funds, REITs and other public and private real estate and financial services firms, announced that Michael Sullivan has joined the firm as a managing director. Sullivan, 43, who has more than 20 years of experience in the real estate industry, will serve as the main contact for some of the firm’s core clientele, as well as generate new business opportunities,

including growing the firm’s hospitality practice. “Michael Sullivan will serve a crucial role at DLA as our main point of contact for some of our core clientele,” said David Landau, president and CEO of DLA. “We are thrilled to be able to leverage his vast experience in the real estate industry to grow our business. His knowledge of the hospitality sector in particular will serve as a great springboard for DLA as we expand our presence in that arena.” Prior to joining DLA, Sulli-

van served as managing director and head of hospitality for Gemini Real Estate Advisors, a New York based real estate investment firm. He was responsible for the hospitality platform at the firm, which owns and operates a portfolio of hotels in New York and along the East Coast, and provides third-party hotel management services. Gemini Real Estate Advisors has been one of the most active hotel groups in New York. Sullivan was also a member of the firm’s investment committee. ■

JERSEY CITY, NJ — To support and honor those battling breast cancer as well as the millions of breast cancer survivors, JDA Group (JDA) has been thinking pink during National Breast Cancer Awareness Month and joined in the American Cancer Society’s Making Strides Against Breast Cancer Walk on Sun-

day, October 16. JDA staff members and their family members of all ages donned pink ribbon T-shirts as they completed the approximately three-mile walk around Lincoln Park. Each year, the American Cancer Society raises critical funds for breast cancer research through walks such as this. ■

CBRE hires industry veteran Monaghan SADDLE BROOK, NJ — Alec Monaghan has joined CBRE as a first VP based out of the East Brunswick office. Monaghan will leverage his wide-ranging global experience to focus on major business development possibilities in the region and globally. “Alec’s extensive experience covering virtually every aspect of commercial real estate and his proven track record in providing strategic portfolio solutions to multinational corpora-

tions is a huge boon for CBRE,” said Jeff Hipschman, senior managing director, and head of New Jersey operations. “We anticipate his achievements on global accounts and cross-border business developments will play a key role in leading our team in new directions.” Monaghan brings more than 27 years of experience to CBRE, having held senior-level positions at Cushman & Wakefield for 21 years, as well as at Binswanger. ■

By Eugene Diaz, Prism Capital . . . continued from page 4B numbers won’t touch what we were seeing prior to the market crash, but, in relative terms, real estate will continue to be

a pretty good investment. Eugene Diaz is principal partner at Prism Capital Partners in Englewood, NJ. ■

MAREjournal.com

Mid Atlantic Real Estate Journal — New Jersey — November 11 - 24, 2011 — 15B

“ASK AN EXPERT” DIRECTORY INQUIRING MINDS WANT TO KNOW HOW TO FIND OUR Scott C. Butler Neil A. Stein Andrew B. Cohn

Suite 310 LibertyView 457 Haddonfield Road Cherry Hill, NJ 08002 856-675-1550

910 Harvest Drive Blue Bell, PA 19422 610.260.6000 www.kaplaw.com

Lehigh Valley 1031, LLC … a Qualified Intermediary serving the greater Lehigh Valley

Website

LehighValley1031.com

Address

904 Lehigh Street Easton, PA18042

Phone

610-250-9712

Fax

610-559-9604

Hours

Monday–Friday 9:00am–5:00pm EST

info@lehighvalley1031.com

Steven B. Molder President

MANKO | GOLD | KATCHER | FOX LLP AN ENVIRONMENTAL AND ENERGY LAW PRACTICE 401 City Avenue, Suite 500, Bala Cynwyd, PA 19004 TEL: 484-430-5700 535 Route 38, Suite 145A, Cherry Hill, NJ 08002 TEL: 856-317-1299

www.mgkflaw.com

Michael P. Hedden, MAI, CRE, FRICS Managing Director Real Estate Advisory Group American Appraisal 650 College Road East Suite 1500 Princeton, NJ 08540 p: 609.452.2330 x 262 / mobile 609.651.2529 direct 609.514.8262 / f: 609.452.0734 www.american-appraisal.com • • • • • • • •

Accounting & Auditing Tax Planning & Compliance Cost Segregation Studies Property Management Services Section 1031 Like Kind Exchanges Valuations & Appraisals Succession & Estate Planning Business Advising & Consulting

To learn more, call Brian Kloza, Partner-in-Charge, Real Estate Services at 973-994-9400 or visit us online at www.wiss.com.

H2M

www.h2m.com

engineers | architects | scientists | planners 119 Cherry Hill Road, Suite 200 Parsippany, New Jersey 07054 862.207.5900 fax 973.334.0507

575 Broad Hollow Road Melville, New York 11747 631.756.8000 fax 631.694.4122

Is there a missing piece in your proposal? Ask the expert at…

www.kipcon.com / marketing@kipcon.com / (800)828-4118

If you have a specific question that you would like to ask our experts in the fields of Development, Design, Construction, Appraisal, Planning, Finance or Law, you may visit our website at www.marejournal.com. Click Ask An Expert, and submit your question or to view each of our experts' bios, please click on their photos. For more information contact Michael Campisi, Publisher at 1-800-584-1062, x 208

16B — October 14 - 27, 2011 — New Jersey — Mid

Atlantic Real Estate Journal

MAREjournal.com

Industrial Commercial Real Estate Women, Inc. www.icrewnj.org ICREW NJ October Luncheon Meeting President Shelia Spriggs Nall KSS Architects snall@kssarchitects.com President Elect & CREW Network Delegate Cheryl Hardt CB Richard Ellis, Inc. cheryl.hardt@cbre.com Treasurer Sefi Silverstein, CPA Wilkin & Guttenplan ssilverstein@wgcpas.com Recording Secretary Patricia Faulkner NAI Global pfaulkner@naiglobal.com Director of Programming Monica Ceres Giordano Halleran & Ciesla, PA mceres@ghclaw.com Director of Philanthropy Susan C. Karp Farer Fersko, P.A. skarp@farerlaw.com Director of Sponsorship Patricia Riedel CB Richard Ellis, Inc. patricia.riedel@cbre.com Director of Sponsorship Mary Lynn Kearns Dancker, Sellew & Douglas mkearns@dancker.com Director of Special Projects: Golf Robin Grossman Edge Technologies rgros30687@aol.com Director of Special Projects: Website/PR Rebecca Machinga WithumSmith+Brown PC rmachinga@withum.com Advisor & CREW Network Delegate Silvana Finizio Carousel Industries sfinizio@carouselindustries.com Advisor Annette Murray Wilkin & Guttenplan amurray@wgcpas.com Advisor & Bylaws Jennifer Palestri Normandy Real Estate Partners jpalestri@normandyrealty.com

“This is a Very Interesting Time,” NAI Global President/CEO Finn

OODBRIDGE, NJ — “The year 2011 started out reasonably well, but the world began to change as we entered the second half,” NAI Global President/CEO Jeff M. Finn told attendees at the October 20th luncheon meeting of ICREW NJ, the New Jersey Chapter of CREW Network. “This is a very interesting time,” he said, noting Wall Street’s “wild gyrations,” debt problems in Europe, turmoil in Greece, and the like. “There is a great degree of instability in the world.” Commercial real estate, of course, has felt the impact of that instability. “The money is there – it’s just not coming to market,” Finn told attendees at the Woodbridge Hilton, citing concerns of government. He predicted, however, a period of “slow, steady growth—the worst is behind us.” Other trends: “Construction starts are at a 50-year low,” and much of what happens as the months ahead unfold will be tied to the ability of the economy to create new jobs. “We have recovered less than 25% of the jobs lost in the recession,” Finn said, with private sector gains offset by public sector cuts. “Sixty percent of industry sectors are growing, but slowly,” with much of the impetus that exists coming from pharmaceuticals, healthcare, and education. A positive for commercial real estate in New Jersey: “People are starting to make decisions, especially in the industrial sector, driven by the region’s ports,” Finn said. One positive tied to the real estate industry’s ups and downs: “Volatility creates opportunity, and those opportunities are in the secondary markets,” he said. “Well-located, wellleased properties in those markets are providing real opportunities for the private investors in particular. We expect to banks and financial institutions to bring product to market as pricing continues to strengthen “ As for ICREW NJ business, the 2011-2012 slate of officers has been approved in a vote by the membership, announced Sheila Nall, director of Interior

Design at KSS Architects and current president of ICREW NJ. The approved slate: • President: Cheryl Hardt, CBRE • President-elect and CREW Network Delegate: Patricia Riedel, CBRE • Treasurer: Sefi Silverstein, Wilkin & Guttenplan • Recording Secretary: Rachel Brindisi, NAI Global • Director of Membership: Mary Lynn Kearns, Dancker Sellew & Douglas • Director of Programming: Monica Ceres, Giordano Halloran & Ciesla • Director of Philanthropy: Susan Karp, Farer Fersko • Directors of Sponsorship: Pat Faulkner, NAI Global; Diane Menard, Prestige Title • Director of Special Projects - Golf: Robin Grossman, Zycus Inc. • Director of Special Projects PR & Website: Rebecca Machinga, WithumSmith+Brown • Advisor and CREW Network Delegate: Sheila Nall, KSS Architects • Advisor: Silvana Finizio, Carousel Industries • Advisor and By-Laws: Annette Murray, Wilkin & Guttenplan In other business, the Annual Golf Outing, held on May 4, 2011 at Fiddler’s Elbow Country Club, raised $12,000 for Cerebral Palsy of New Jersey, reported Robin Grossman of Edge Technologies, ICREW NJ’s director of special projects - golf. A check was presented to CPNJ at the meeting. And for the October philanthropy, ICREW NJ partnered with Operation Shoebox New Jersey, a volunteer organization that collects food and basic necessity items for U.S. troops overseas.

“We owe ICREW NJ a great debt for the support its members have provided,” said Rod Hirsch, executive director of Operation Shoebox New Jersey, who called for volunteers at the organization’s first annual Christmas packing on December 3 at the Hillsborough Elementary School in Hillsborough, NJ. “One person can make a difference.” Next on the schedule is the November 10th luncheon meeting at the Woodbridge Hilton, followed by the December 15th New Officer Installation Luncheon and Sponsor Expo at Dolce Hotels & Resorts in Basking Ridge, NJ. A highlight of both events will be ICREW NJs 11th Annual Toy Drive. Members are asked to bring new, unwrapped toys to the meetings to be distributed to needy children and their mothers. For more information on the toy drive, contact Karen Rossilli-Kiefer of PAR Flooring, Inc., at 973-292-0089 x12, or karen@parcorporation. com. ICREW NJ is the New Jersey organization for women involved in all aspects of commercial and industrial real estate. Members represent fields as diversified as accountants, architects, appraisers, asset/ property managers, attorneys, consultants, developers, lenders, leasing and sales brokers, mortgage bankers/brokers, marketing specialists, market and investment analysts, corporate real estate representatives and title/escrow officers. For more information on programming, sponsorship or membership, please contact ICREW NJ at (609) 585-6871, via email icrewnj@crewnetwork.org or visit their website at www.icrewnj.org. ■

MAREjournal.com

Mid Atlantic Real Estate Journal — New Jersey — November 11 - 24, 2011 — Inside Back Cover B

PAD SITE AVAILABLE – FORMER KFC Medford Plaza

128 Route 70, Medford, New Jersey FEATURES • Highly visible location • Oﬃce, Retail and Medical use • Established local presence • Established Medical Tenants

BUILDING SIZE +- 52,500 SF AVAILABLE SPACE Oﬃce: +- 3,551 SF

Retail: +- 1,200 - 2,400 SF RENTAL RATE AND TERM • Competitive Market Rates

BYRON REAL ESTATE CO., INC.

For more information please contact:

John B. Krok jkrok@byronre.com 732-780-7780 www.byronre.com Licensed Real Estate Broker

63 WEST MAIN STREET P.O. BOX 5008 FREEHOLD, NJ 07728 PHONE: (732) 780 7780 FAX: (732) 577 0129

B Back Cover — November 11 - 24, 2011— New Jersey — Mid

Atlantic Real Estate Journal

MAREjournal.com

While other banks are pulling back, our customers are pulling ahead. Why?

D iscover open minds as well as open hands. We understand a local businesses’ financial needs. I t calls for support, not reserve. T hat’s why, for all your business deposit and lending needs, R egal B ank offers a wide array of commercial products and services. We’re locally owned and operated, so we better understand the challenges and opportunities your business faces every day.

• C ommercial R eal E state and M ulti-F amily L oans • C ommercial L oans • B usiness L ines of C redit • F R E E B usiness C hecking • R emote D eposit C apture • M erchant Ser vices • F ast A pprovals

F or more infor mation contact Monte or Sean at 973-716-0600

570 W. M t. Pleasant Avenue 504 S. L ivingston Avenue L ivingston, N J 07039 L ivingston, N J 07039 973-577-7160 973-577-7161

180 E agle R ock Avenue R oseland, N J 07068 973-228-3951

www.regalbanknj.com Member FDIC

Equal Housing Lender. Equal Opportunity Lender.

PENNSYLVANIA

SHOPPING C ENTERS R E J EAL

STATE OURNAL

Section C of the Mid Atlantic Real Estate Journal

DNB First provided financing for the sale

Swope Lees Facilitates $3M industrial building sale

EST CHESTER, PA – Jim Lees and Chuck Swope of Swope Lees, a West Chester based commercial real estate brokerage firm, arranged the $3,000,000 sale of 917 Old Fern Hill Road, West Chester. The 40,000 s/f industrial flex building is 75% occupied. The buyer, Fernhill Business Center, LLC is led by Brad Wiggins of Wiggins Shredding. Wiggins

917 Old Fern Hill Road Shredding plans to occupy operations. The seller is Fern the building and expand its Hill Associates, L.P. The 5

NOVEMBER 11 - 24, 2011

HI-LIGHTS Cushman & Wakefield negotiates $900,000 sale A 29,000 s/f heavy industrial building located in Lancaster has traded hands announced Cushman & Wakefield. See page 2C.

Mericle announces 211,000 s/f total lease transactions Mericle Commercial Real Estate Services has recently leased a total of 211,000 s/f in several transactions. See page 4C.

acre property in West Goshen Township was not actively for sale on the market and Swope Lees was able to arrange the transaction. DNB First was the financial lender for the sale of 917 Old Fern Road. Swope Lees Commercial Real Estate, LLC is a commercial real estate brokerage and consulting firm that operates regionally in Southeastern Pennsylvania, with an emphasis in Chester

Willems of NAI Keystone represents landlord

Brasler Props. & Endurance RE establish a 220,000 s/f ind. plant READING, PA — Packaging Corporation of America established a new 220,000 s/f product plant at Brasler Properties’ and Endurance Real Estate Group’s Premium Business Center on Tuckerton Road. “Along with our partners at Endurance, we invested in experienced technical personnel during the economic downturn to provide prospective tenants from the initial tour or RFP, the data they needed to understand our facility capabilities. This commitment has taken pressure off of thebrokers to represent technical details they are not qualified and made PCA comfortable with the building and the capability of the team to deliver early in the process.” stated Chris Brasler, CEO of-

Packaging Corporation of America Brasler Properties. One of PCA’s main considerations in deciding on this location was past positive experiences the Brasler/Endurance team had in the Twp. Pam Shupp and Jon Scott from Berks Economic Partnership assisted to attract PCA. Brasler/Endur-

WHY PAY RENT WHEN YOU CAN OWN???

ALSO INSIDE: WESTERN PA.......................................................................6C PA’S PREMIER AVAILABLE PROPERTIES SPOTLIGHT ...... 7-14C CREW LEHIGH VALLEY ............................................. 18-19C Section C, 24 pages

MAREjournal.com

County. It maintains regional, national, and international relationships through its affiliation with the CCIM Institute, the preeminent platform for commercial real estate networking, education, and technology. The professional services offered by Swope Lees include commercial real estate sales and leasing, market analysis, financial and investment analysis, and project-specific and market consulting. ■

827-835 LINCOLN AVE. WEST CHESTER, PA

ance managed the initial construction, and PCA has chosen the Brasler/Endurance team to deliver Phase 2. Steve Willems, NAI Keystone Comm’l and Ind., represented the landlord and Michael Zerbe & Lee Fein of Colliers represented PCA. ■

LINCOLN INDEPENDENCE PARK

•2,700 to 27,000 sq. ft. available for sale •New ConstructionFlex/Industrial Condominiums •Loading Docks & Drive in loading •Fully Sprinklered •Warehouse Heating & Lighting •Assigned Parking •20' Clear Height •Discounted Closing Cost with Bank of America •90% Financing Available •Keystone Innovation Zone-www.CCKIZ.org

C Inside Cover — November 11 - 24, 2011 — Pennsylvania — Mid

Atlantic Real Estate Journal

MAREjournal.com

Snow & Ice SolutionsSM The Mark Of Excellence In Zero Tolerance Snow And Ice Management™ Commercial • Industrial • Retail • 24/7 Call Center •Liquid Anit-Icing •Risk Management •Certified Snow Professionals •Weather Forecasting/Alerts/Summaries

SEASONAL/ANNUAL CONTRACTS AVAILABLE

Let us reduce your overall liability exposure . . .

Member of

877• DE• ICE• IT

CenovaInc.com

MAREjournal.com

Mid Atlantic Real Estate Journal — Pennsylvania — November 11 - 24, 2011 — 1C

Great Marcellous Shale Opportunity in Northern Pennsylvania

Brushville Road, Susquehanna, Pennsylvania Opportunities for sale: t t t

t t t t t t

Opportunities for lease:

Real estate to include: t Real estate (manufacturing buildings, 200 acres, 200 acres executive houses, cottage, office) 54,000+Sq. Ft. of industrial space divided t Dimensional Blue stone quarries over multiple buildings plus executive houses, t Equipment (if quarries are leased) garages, cottage, and office. Property features: Over 30 Large Overhead Doors, Bridge Cranes, JIB Cranes. Electric is 480V-3Phase. Piped Stations for Air Compressor and Liquid Oxygen/Propane throughout buildings. Torrit Dust Collector, executive houses, cottage, office Mineral appraisal shows reserves of 64,444,444 tons on 100 acres. More reserves and value probable on total 200 acres Dimensional blue stone quarry – approximately 800’ thick Timber Aggregate alone - 500,000 ton already extracted Dimensional blue stone quarry – approximately Special Note: 800’ thick Sellers will consider a lease back period to continuing blue Gas lease for proposed gas head and 3 gas wells stone operation. Buyers would receive rent and mineral royalties. Owners will consider partial owner financing. (to be sold with real estate) Equipment (can be sold with quarry)

Ellen Raineri

eraineri@hinerfeldcommercial.com

Hinerfeld Commercial Real Estate

570-207-4100 www.HinerfeldCommercial.com

C — November 11 - 24, 2011 — Pennsylvania — Mid

Atlantic Real Estate Journal

Preserving the Past. Building for the Future.

MAREjournal.com

Pennsylvania Blinebury & Balerno rep seller

Cushman & Wakefield negotiates $900,000 sale

Celebrating 100 Years of Commitment to EXCELLENCE.

Ξ ĂǀŝĚ ͘ ZŽƐĞ

Ξ ZŽďĞƌƚ WŽůĞƩ

100 YEARS

1911-2011

&ƌŽŵ ƚŽƉ ůĞŌ͗ >ĂŶĐĂƐƚĞƌ dƌĂŝŶ ^ƚĂƟŽŶ ĐŽŶƐƚƌƵĐƟŽŶ ;ϭϵϮϵͿ͕ >ĂŶĐĂƐƚĞƌ ĞŶƚƌĂů DĂƌŬĞƚ ZĞŶŽǀĂƟŽŶƐ ;ϮϬϭϭͿ͕ DĐ'ĞƫŐĂŶ ZĞƐŝĚĞŶĐĞ ;ϮϬϭϬͿ͕ &ƵůƚŽŶ KƉĞƌĂ ,ŽƵƐĞ ZĞƐƚŽƌĂƟŽŶ ;ϭϵϵϱͿ͕ ůŝƉƉĞƌ DĂŐĂǌŝŶĞ ^ƚĂĚŝƵŵ ;ϮϬϬϱͿ͕ :W DĐ ĂƐŬĞǇ ,ŝŐŚ ^ĐŚŽŽů ;ϭϵϯϴͿ͕ >ĂŶĐĂƐƚĞƌ WŽůŝĐĞ ^ƚĂƟŽŶ ;ϮϬϬϯͿ͘

warfelcc.com

New Mission Construction Our We create value as a full-service brokerage High Voltage company for our customers through applied real Renovation estate expertise as a recognized market leader throughout Pennsylvania.

Utility

Our Companies Structured Cabling •Springwood Service Commercial Realty •Springwood Real Estate Services •Springwood Hospitality

Our Honor

Springwood companies is proud to announce its rank of “37” on the fifteenth annual list of the fifty top businesses making significant contributions to the growth, strength and success of the Central PA economy.

Springwood Commercial Realty 146 Pine Grove Circle Suite 100 York, PA 17403 Phone: 717.505.1000 Fax: 717.505.1005 www.springwoodcommercial.com

ANCASTER, PA — A 29,000 s/f heavy industrial building located at 2200 Hathaway Rd. in Lancaster has traded hands, announced commercial real estate services firm Cushman & Wakefield, Inc. B&B Structures, a shed manufacturer located in Bird-in-Hand, Pa., purchased the property for $900,000. Gerry Blinebury and Leah Balerno of Cushman & Wakefield’s Philadelphia industrial brokerage practice orchestrated the transaction on behalf of the seller. Scott Bradbury of U.S. Commercial Realty represented the buyer. Located adjacent to Greenfield Corporate Center and Conestoga Valley High School, 2200 Hathaway Rd. became excess property for the owner last year, when that company consolidated its operations elsewhere in Lancaster County. “This property came onto the market in late 2010, providing an unusual opportunity within the immediate market for a small industrial user to purchase space,” Blinebury said. “The benefits of its location, especially the ability for its occupant to take ad-

2200 Hathaway Rd. vantage of being next door to the region’s premier business campus, drew a relatively short marketing cycle and an attractive price for both parties considering overall economic conditions.” 2200 Hathaway Rd. offers proximity to Route 30 as well as Greenfield Corporate Center’s abundant amenities including hotels, shopping, dining and recreation. n

Pennsylvania Real Estate Journal a section of the

Mid Atlantic Real Estate Journal P.O. Box 26, Accord, MA 02018 781-871-5298 • 800-584-1062 fax 781-871-5299

MAREjournal.com

Binswanger arranges multiple leases CONSHOHOCKEN, PA — On behalf of Buccini Pollin, Binswanger is pleased to announce that approximately 81,000 s/f of space has been leased at River Park II and Quaker Park. River Park II, located at 1200 River RD., is a 71,800 s/f. Class A office building offering one-of-a-kind historical architecture. Binswanger working as exclusive leasing agent, secured the new 15year, 61,496 s/f lease for the Academy in Manayunk. AIM, is a school (grades 1-12) for

children with language based learning disabilities and professional development center for educators and practitioners. Mike Barker and Dan Dagit of CB Richard Ellis represented AIM. In another separate transaction, Binswanger working as exclusive leasing agent for Quaker Park, a 202,046 s/f. Class A office building located at 1001 East Hector St. secured a new 20,161 s/f lease for Monetate.Brad Speigal of Skyline Commercial represented Monetate. n

Section Publisher Elaine Fanning

efanning@MAREJournal.com

Section Editor

Rachel Rugman editor@marejournal.com

WE KNOW NOT ONLY

WHAT IS POSSIBLE NOW BUT ALSO WHAT MIGHT BECOME POSSIBLE IN THE FUTURE

Delivering Results…. ...Now more than Ever

610-779-1400 www.NAIKeystone.com

MAREjournal.com

Mid Atlantic Real Estate Journal — Pennsylvania — November 11 - 24, 2011 — C

Pennsylvania Gladstone leases 201,600 s/f warehouse space

NAI CIR brokers $550,000 office building sale

USQUEHANNA, PA — Keystone Wireless, LLC has purchased the office building at 2574 Interstate Dr. in Susquehanna Township for $550,000 from Exelon Energy. Keystone Wireless plans to renovate the building and utilitize it as their network operations center to serve their wireless network in north eastern and north central Pennsylvania. Daniel J. Alderman and Joseph A. Bedard of NAI CIR brokered the sale. Menlo Logistics, Inc, a global third party logistics and supply chain solutions company, is opening an additional location in 201,600 s/f of warehouse space at 6111 Grayson Rd., Swatara Twp. Bill Gladstone of NAI CIR along with Steve Shields of Transportation Property Co., represented Menlo, in the transaction. Parts Now! LLC will open an additional location in 21,428 s/f of space it has leased at 1451 Stoneridge Dr., Lower Swatara Twp. Ida McMurray of NAI CIR represented the landlord, Barry Pagliaro, in the transaction K & J, LLC is leasing 4,100 s/f of commercial space for a convenience store at 7800 Linglestown Road, West Ha-

Our Core Service Areas: • Site Traffic Development • Traffic Engineering York Town Center

• Transportation Planning

• Highway / Roadway Design • Traffic Signal Design • Parking Studies

• Expert Consultation Shoppes at Tecport

Our Retail / Commercial Sectors : • Retail Centers / Big Box • Commercial Office

Gateway Gettysburg

• Fuel / Convenience • Food / Grocery • Pharmacy

• Restaurants • Banking

2574 Interstate Drive nover Twp. Fahd Malik of the Bill Gladstone Group of NAI CIR represented the landlord, Triple K Fleet Service, in the transaction Mattress Depot has leased 3,200 s/f of space at 470 Eisenhower Dr., Hanover. Nathan Kranz and Nik Sgagias, both of NAI CIR, represented the landlord, Scotto Malvone, LLC, in the transaction. Lori Nornhold has leased 2,100 s/f of retail space at 5939 Linglestown Rd., Lower Paxton Twp for a consignment shop. Fahd Malik of the Bill Gladstone Group of NAI CIR represented the landlords, Dan and Linda Snow, in the transaction. Kings Asset Managers, LLC has leased the entire building

at 205 State St. consisting of 2,433 s/f of office space, Harrisburg. James D. Ross of NAI CIR represented the landlord, M Three Properties, in the transaction. Donald Nelson McClure PC, a CPA firm, will relocate into 462 s/f of space it has leased at 4076 Market St., Hampden Twp. David Rudy of The Gladstone Group of NAI CIR represented the landlord, 4076 Market St., LLC, and Ida McMurray of NAI CIR represented the firm. O-Boys, Inc. will expand the parking for DiSalvo’s Restaurant on land it purchased at 369 Penn St., Williamsport across from the restaurant on Fourth Street. James D. Ross of NAI CIR represented the seller, Comcast of Southeast PA, LLC, in the transaction. n

Buckhorn Plaza

• Hotels

www.consulttrg.com

204 N. George Street, Suite 110 · York, PA 17401-1108 T:(717) 846-4660 · F:(717) 846-4858 Consulting Engineers & Planners

Booth # 929

www.bennettwilliams.com

SERVING CENTRAL PENNSYLVANIA FOR OVER 50 YEARS • Landlord Representation • Tenant Representation

• New Construction Leasing & Development

• Investment Sale & Acquisition

• Property & Portfolio Dispositions

• Site Selection

• Property Management

Roddy Inc sells modern facility for $1.31 Million WARMINSTER, PA – Roddy, Inc, the Bensalem based industrial and commercial real estate brokerage firm representing 2015 Stout Drive, LLC, sold their one story modern facility of 13,816 SF situated on 3.45 acres in Warwick Commons Industrial Park, Warminster Township, Bucks County, PA to Global CF Holdings, LLC for $1,310,000. Robert Olender represented the owner in this transaction. n

Fa i r f ie ld I n n a n d S u i te s Ba l t i mo re , MD

110 N. George Street, 4th floor York, PA 17401

2015 Stout Drive

L i b e r t y P r o p e r t y Tr u s t - H u n t e r s G r e e n Hage rs to w n, MD

ph: 717-843-5555 fax: 717-843-5550

4C â&#x20AC;&#x201D; November 11 - 24, 2011 â&#x20AC;&#x201D; Pennsylvania â&#x20AC;&#x201D; Mid

Atlantic Real Estate Journal

MAREjournal.com

PENNSYLVANIA Susanin of SSH Real Estate reps C3i in 41,000 s/f lease

Mericle announces 211,000 s/f total lease transactions

DPN 'PS 4JUF 4FMFDUJPO JO /PSUIFBTU 1"

ILKES-BARRE, PAâ&#x20AC;&#x201D; Mericle Commercial Real Estate Services has recently leased a total of 211,000 s/f with the following transactions listed. CaremarkPCS, LLC, has extended their lease to 2026 for the 160,000 s/f building it leases from Mericle at One Great Valley Boulevard in Hanover Crossings, Hanover Township. CVS Caremark plans to expand its mail service pharmacy within the building. The facility, which originally opened in October, 2000, was started as a Mericle speculative project, then redesigned and constructed by Mericle to the exact specifications of mail service pharmacy. Real estate brokers Harry Thomes and Joseph Fetterman of Jones Lang LaSalleâ&#x20AC;&#x2122;s Philadelphia office represented CVS Caremark during lease negotiations and coordinated the transaction with Mericle Vice President Jim Hilsher. C3i, a leading provider of technology enablement and Business Process Outsourcing services for the life sciences industry, has leased approximately 41,000 s/f of flex space from Mericle Commercial Real

C3i, 240 Armstrong Road Estate Services at 240 Armstrong Road in CenterPoint Commerce & Trade Park East, Jenkins Township, Luzerne County. The 92,400 s/f facility recently constructed on speculation by Mericle in the Phase I section of CenterPoint. Mericle Vice President Bob Besecker coordinated lease negotiations. C3i was represented by John Susanin of SSH Real Estate, Radnor, Pennsylvania and Alex Jinishian of Colliers International, New York City. Bath Fitter, has relocated its local office, showroom,

and distribution center to a Mericle Commercial Real Estate Services flex building in CenterPoint Commerce & Trade Park, Jenkins Township. The company has leased approximately 10,000 s/f of space from Mericle at 145-173 CenterPoint Boulevard and had previously . Mericle built the multi-tenant building on speculation a few years ago. Mericle Vice President Jim Hilsher coordinated the real estate transaction. Bath Fitter had been located in a smaller Mericle flex space in Hanover Industrial Estates, Hanover Township. â&#x2013;

Michael Baxter & Associates leases 51,660 s/f 8IFO ZPV UIJOL /PSUIFBTU UIJOL 1FOO T /PSUIFBTU JOGP!QFOOTOPSUIFBTU DPN

PEN ARGYL, PA â&#x20AC;&#x201D; Michael Baxter & Associates Commercial Real Estate & Property Management has leased 51,660 s/f of warehouse/distribution space located at 636 Pen Argyl Ave., Pen Argyl, PA. Dan Perich, CCIM and Associate Broker worked with the tenant, Forza Boxing, LLC and the landlord, Scottyâ&#x20AC;&#x2122;s Fashion Cutting, Inc. was represented by Joseph Baxter and Michael C. Baxter. â&#x2013;

636 Pen Argyl Ave

MAREjournal.com

Mid Atlantic Real Estate Journal â&#x20AC;&#x201D; Pennsylvania â&#x20AC;&#x201D; November 11 - 24, 2011 â&#x20AC;&#x201D; 5C

PENNSYLVANIA Trogner of JLL reps 8,000 s/f

Landmark Commâ&#x20AC;&#x2122;l Realty brokers 104,502 s/f facility

ARRISBURG, PA â&#x20AC;&#x201D; Shadow Canyon Family Partners has sold its 104,502 s/f packaging facility located on a 4.4 acre tract at 2715 N. 7th St., Harrisburg, Dauphin County, Pennsylvania to Robin Ellen Realty. James W. Brady, SIOR of Landmark Commercial Realty, Inc. represented the seller and Dick Kleiman of NAI CIR represented the buyer. National Governmental Services has leased an additional 12,000 s/f of office space at 2400 Thea Dr., Harrisburg, Susquehanna Township, Dauphin County, Pennsylvania. Thomas T. Posavec, SIOR of Landmark Commercial Realty, Inc./ONCOR International represented the Landlord, DST Health Solutions LLC, in the lease negotiations. Champion Window Company has recently leased 8,000 s/f of flex space at 7917 Derry St., Harrisburg, Swatara Township, Dauphin County, Pennsylvania. Roy H. Brenner of Landmark Commercial Realty, Inc./ONCOR International negotiated the long term lease on behalf of the tenant and Julie Trogner of Jones Lang LaSalle represented the landlord, DP Partners Derry Street I, LLC. Market Mart Inc. has leased 2,250 s/f. in the Olde Towne Commons at 400 Bridge St., New Cumberland, Cumberland County, Pennsylvania. This convenience store will be located in the Heart of Downtown New Cumberland. Andrew Kohr of Landmark Commercial Realty, Inc./ONCOR International represented the landlord. Utility Solutions of PA has leased 1,711 s/f of office space located at 2300 Vartan Way, Harrisburg, Dauphin County, Pennsylvania. Thomas T. Posavec, SIOR of Landmark Commercial Realty, Inc./ONCOR International represented both the tenant and the landlord, the Vartan Group, in the lease negotiations. Everence Financial Advisors has leased 1,700 s/f of office space at 1 Kacey Court, Mechanicsburg, Upper Allen Township, Cumberland County, Pennsylvania. Roy H. Brenner of Landmark Commercial Realty, Inc./ONCOR International negotiated the lease on behalf of the tenant and the ownership. General Services Administration has leased 1,251 s/f of office space located at 2300 Vartan

Ness Associates

Commercial Real Estate Appraisal & Review Services In todayâ&#x20AC;&#x2122;s uncertain economy, accurate and well supported appraisals are necessary for the protection of your real estate interests. We provide the professional expertise you need to make sound decisions regarding the acquisition, financing, development or sale of real estate. COMMUNICATION...Professional service begins with excellent communication. We keep our clients informed through the entire process. QUALITY...We combine thorough research with in-depth analysis and modern valuation methods, resulting in objective market supported conclusions.

2715 N. 7th Street Way, Harrisburg, Dauphin Group has leased 880 s/f of office County, Pennsylvania. Thomas space at 20 Erford Rd., Lemoyne, T. Posavec, SIOR and Roy H. Cumberland County, PennsylvaBrenner of Landmark Com- nia. Andrew Kohr and Thomas mercial Realty, Inc./ONCOR T. Posavec, SIOR of Landmark International represented both Commercial Realty, Inc./ONthe tenant and the landlord, the COR International negotiated Vartan Group, in the long term the lease terms between the lease negotiations. landlord, Linlo Properties and Element Creative Media the tenant. â&#x2013;

TIMING...Assignments are completed in a timely manner to meet the demands of todayâ&#x20AC;&#x2122;s fast paced real estate environment. INTEGRITY...Uncompromised independence is the hallmark of Ness Associates. Our services are completed in accordance with Uniform Standards of Professional Appraisal Practice and the Code of Ethics of the Appraisal Institute. PAUL S. NESS, MAI PA State Certified General Appraiser GA00047L 27 Years of Appraisal Experience

Lancaster: 717-390-7001 York: 717-764-7001 www.nessassociates.net

Central PAâ&#x20AC;&#x2122;s

Premier Business Address Âł Industrial & Flex Space Available Âł Class-A & Class-B OfďŹ ce Space Available 1K-25K SF Âł 100+ Acres Available for Build-to-Suit Opportunities

Lancaster, Pennsylvania A High Real Estate Group LLC Master-Planned Business Campus Managed By

www.GreenďŹ eldCorporateCenter.com/PropertySearch s E-mail: highrealestate@high.net

6C — November 11 - 24, 2011 — Pennsylvania — Mid

Atlantic Real Estate Journal

MAREjournal.com

WESTERN PA By Louis V. Oliva, Grubb & Ellis Company

“Positive Signs Continue”

he increasing activity over the summer months resulted in positive absorption in the third quarter and brought year to date absorption to 750,000 s/f. Overall industrial va- Louis V. Oliva cancy stands at 9.5% with Class A vacancy at a miniscule 6.3% with only 1,800,000 s/f available; mostly in increments of 50,000 to 120,000 s/f. While the European debt crisis dominated the national economic headlines, on a local level, numerous significant transactions were completed with Pittsburgh based companies. In the Northwest Submarket, UPMC continued its growth with a lease of a free standing 148,000 s/f warehouse in the Thorn Hill Industrial Park. In the Tri County

Commerce Park, Mitsubishi Electric Power Products continued its expansion. As a result, The Buncher Company should start the expansion of its last building in that project in 2012. Buncher also made significant progress at its new Butler County project, Jackson Pointe Commerce Park, with the construction of its first warehouse sized at 69,000 s/f. This building should be available for the first quarter 2012. At the Leetsdale Industrial Park, two smaller transactions have resulted in 100% occupancy within that project’s light industrial/warehouse space inventory. In the West submarket, ModCloth, a fast growing internet based clothing distributor leased 146,000 s/f at 2250 Roswell Drive. The transaction is a consolidation of their office space and expansion of their warehouse operations into one building. This long term lease is one

of the largest transactions of the year. At the Clinton Commerce Center, American Tire Distributors expanded into the remaining vacancy in that building completing the 400,000 s/f project. At the Findlay Industrial Park at Westport, Alro Steel is nearing completion of their 100,000 s/f steel service center and the extension of Solar Drive will begin in November to bring another 225 acres into service in the spring of 2012. At the McClaren Woods Business Park, the Elmhurst Group announced the last building of 130,000 s/f will be completed in 2012. Lastly, the 90,000 s/f speculative warehouse at 4801 Grand Avenue completed its first transaction with SL Distribution and current activity could result in 100% occupancy by year end. In the Northeast submarket, two significant transactions occurred. Dynamics, Inc, a fast growing Pittsburgh based technology company ac-

Carrie S. Holstead RE negotiates multi-million dollar lease PITTSBURG, PA — Carrie S. Holstead, President of Carrie S. Holstead Real Estate Consultants, Inc., has negotiated a multi-million dollar office lease on behalf of The HDH Group. This is the second time The HDH Group has enlisted Holstead to provide tenant representation services. The new lease will move the insurance and risk brokerage company headquarters from U.S. Steel Tower to the recently renovated K&L Gates Center in Pittsburgh’s cultural district. HDH leased approximately 18,300 s/f on the entire 30th floor which features panoramic views of downtown Pittsburgh and the Pirates baseball stadium across the river. They will take occupancy October of 2012. K&L Gates Center is owned by Kojaian Companies and the landlord is represented by Jason Stewart of Grubb & Ellis Company.

The transaction followed the successful negotiation of a favorable termination agreement of HDH’s lease at U.S. Steel Tower, prompted by theupcoming expansion of UPMC in the building. Holstead’s concurrent search for a new office initially included a comprehensive analysis of all leasing options as well as an extensive tour of viable availabilities and detailed financial analysis and comparison of lease proposals. “As a solid foundation for finalizing this transaction in an ever-tightening office market in which multiple companies were looking at this highly desirable floor, a letter of intent was negotiated outlining the business terms to which both parties were committed,” says Holstead. “Everyone worked hard and moved quickly to subsequently negotiate a comprehensive lease agreement.” “Carrie Holstead took total responsibility for the proj-

ect and was verypro-active throughout the entire process,” explains Bryan C. Hondru, Chairman of The HDH Group. “Her keen understanding of the corporate real estate market meant we had great access to the available space around Pittsburgh. We toured nine or ten locations in two days, and Carrie did a great job with the RFP from our top choices.” Adds Hondru: “Then she became even more proactive during negotiations of the lease and its terms. She was very successful and got everything we wanted.” Carries S. Holstead, President of Carrie S. Holstead Real Estate Consultants, Inc., has spent twenty-five years working in corporate real estate. As founder of Carrie S. Holstead Real Estate Consultants, Inc. in 1989, she is a leader in tenant representation and owns the longest established tenant representation firm in Pittsburgh. ■

Colliers International | Pittsburgh orchestrates two leases PITTSBURGH, PA — Colliers International | Pittsburgh is proud to announce the sale of a warehouse/distribution and former bakery facility located at 1700 Island Ave. in the Chateau St./Beaver Ave. corridor of the City of Pittsburgh. The 136,850 s/f multi-story structure, situated on 4.6 acres, was sold by IBC Sales Corporation to LOC 9, LLC of Pittsburgh.

IBC Sales was represented by John Bilyak CCIM, Principal & Director of Industrial Brokerage, Ralph Egerman, Principal, and Raymond Orowetz P.E., Associate of Colliers International | Pittsburgh. The purchaser was unrepresented. Colliers International | Pittsburgh also announces the lease of 220 North High-

land Ave. in East Liberty to the locally owned Union Pig and Chicken restaurant. Gregg Broujos, Managing Director, and Anthony Pantoni, Associate, at Colliers International | Pittsburgh, represented the 2,200 s/f retail space for The Wedgwood Group and assisted Kevin Sousa, owner of Union Pig and Chicken, with securing the space for its business. ■

quired the 115,000 s/f Harmar Manor and the neighboring 540,000 s/f warehouse at 460 Nixon Road completed two transactions including a 70,000 s/f lease to Sampco and a 155,000 s/f lease to the US Postal Service. As we enter into the fourth quarter, two significant national and international questions remain. Will the European Union come up with a definitive recapitalization plan and will the US Congress agree on a definitive plan to reduce the national deficit? The European issue will have a significant impact on global companies, some of which are based in Pittsburgh including PPG, Heinz, Bayer and Allegheny Technologies. Clearly, growth in the Pittsburgh Industrial Market is more closely levered to the latter as the debt reduction plan will have an impact on consumer confidence, business confidence and banking. As most of the industrial occupiers in our

market are local and regional in nature, a positive outcome is essential to continue the low growth recovery. As predicted earlier this year, the dearth of speculative construction in 20102011, coupled with a return to normal historical absorption levels, has led to a sub 10% vacancy market wide and dangerously low mid single digits of Class A product. While our market has not returned to the growth of 2007-2008, it appears we could be on our way to the sustainable levels of 2004-2006. If that is the case, we will need financing for both build to suit and speculative construction in 2012 or face the risk of not accommodating growth of industrial occupiers. Louis V. Oliva, CCIM, SIOR is a Senior Vice President of the Pittsburgh office of Grubb & Ellis Company and leads the Industrial Property Team. ■

Harrocks Joins R.A. Smith National’s Tarentum Office TARENTUM, Pa. — John Harrocks has joined the Tarentum (Pittsburgh) office of R.A. Smith National — civil engineering, surveying, landscape architecture, geographic information systems (GIS) and 3D John Harrocks visualization consultants — as a survey technician. Harrocks has more than

eight years of experience as a survey technician and survey crew chief, completing ALTA/ ACSM Land Title Surveys; boundary surveys; topographic surveys; residential, commercial and federal highway surveys; construction staking; and platting and staking of gas and oil wells. Harrocks has a bachelor’s degree in environmental studies and geography from Edinboro University of Pennsylvania. He lives in Aspinwall, Pennsylvania. ■

SunConnect signs agreement with Macy’s to develop PV system PITTSBURGH, PA — SunConnect, a leading Pittsburghbased developer and technology provider of photovoltaic (PV) arrays, recently signed an agreement with Macy’s to design and install a 1.063megawatt solar power generation system at the retailer’s Raritan, New Jersey distribution center. “Macy’s is a highly experienced buyer of solar power, and immediately saw the obvious value in the SunConnect model and our technologies,” commented Gary Kassem, President of SunConnect. Work on the project commenced at the beginning of September, and the entire system will be operational and online in December of 2011. When complete, the system

will provide 70% of the total power needed to support the facility’s operations. The system is being co-developed with Enfinity Corporation, which is also the PPA provider on the project. The project will incorporate SunConnect’s proprietary, Clearview Racking System, a breakthrough support structure for PV panels that allows quick and easy access to underlying roof surfaces. The only racking system in the industry to be listed by Underwriters Laboratories, Inc. (UL), the Clearview Racking System is constructed of extruded aluminum and stainless steel, is not susceptible to corrosion, and has a projected lifespan of 40 years – a timeframe equal to that of most PV arrays. ■

MAREjournal.com

Mid Atlantic Real Estate Journal — PA Premier Spotlight — November 11 - 24, 2011 — 7C

ENNSYLVANIA SPOTLIGHT

PREMIER AVAILABLE PROPERTIES Berger-Epstein Asso., Inc.: Office, Eastern PA ........................................................ 8B Brasler Properties: Industrial, Eastern PA .............................................................. 9B Classic Properties: Industrial, N. Eastern PA .......................................................... 14B Dietrick Group, LLC: Office, Eastern PA ................................................................. 8B Fox Realty Consultants: Office, Eastern PA ............................................................ 10B Frederick Group: Office & Retail, Eastern PA ......................................................... 14B Griffin Land: Industrial, Eastern PA, Lehigh Valley................................................ 10B Hawley Realty: Commercial Investment, Eastern PA ............................................. 8B Hinerfeld Comm’l Real Estate: Industrial, N. Eastern PA ...................................... 13B Liberty Property Trust: Industrial/Distribution, Eastern PA ................................. 12B Lebanon Valley E.D.C: Industrial/Business Park Acreage, Central PA .................. 14B PennCap Properties: Office, Eastern PA .................................................................. 11B Principal Investment: Office, Eastern PA ................................................................ 10B

8C — November 11 - 24, 2011 — Pennsylvania — Mid

Atlantic Real Estate Journal

MAREjournal.com

PA’S PREMIER AVAILABLE PROPERTIES FOUR COMMERCIAL/INVESTMENT PROPERTIES

EASTERN PA – WAREHOUSE SPACE & LAND

3910 Adler Place, Bethlehem, PA

DIETRICK GROUP, LLC Real Estate Sales, Appraisal & Property Management

WAREHOUSE SPACE

WASHINGTON TWP.

881 Third St. Whitehall, PA

F REEMANSBURG

·Up to 42,108 s/f available ·First & Second floor suites ·Tastefully appointed lobby ·ADA compliant ·On-site parking ·Lease Terms Offered

±12,100-SF multi-level warehouse with office component available for lease. Heated & cooled. Loading/delivery doors & 16’ ceilings. Great proximity to Routes 378, 22, 33 & I-78. This is a sublease through Oct. 2013; longer lease term available if desired.

±24,000-SF industrial/commercial building situated on ±4.25 acres, available for sale or lease in Bangor. 10-15’ ceiling heights, clear span, 12 x 14’ overhead door and on-site parking for 100+ vehicles. Well maintained and updated with modern conveniences.

COMMERCIAL LAND (PAD SITES)

RESIDENTIAL LAND

WASHINGTON TWP.

U PPER S AUCON

·17,820 s/f building ·0.88 acre site ·Concrete block, stucco ·On site parking ·Building is 95% occupied ·Sale Terms Offered

920-32 S. Lumber St. Allentown, PA

·11,390 s/f building ·1,500-5,000 s/f available ·Masonry block steel frame ·Onsite and street parking ·ADA compliant, elevator ·Lease Terms Offered

16th & Allen Streets, Allentown, PA

·1,200 & 1,800 s/f available ·ADA Compliant ·On-site parking ·Gas heat, seperate utility meter ·Within 1/2 mi of Rt. 22 15th St. ·Lease & Sale Terms Offered

±1.07-acre commercial property available for retail pad lease in Bethlehem. Ample frontage on Route 378. Zoned GB2—Limited General Business. Many uses permitted—bring your developers or end users!

±60.5 acres of land for sale in Bangor. Sketch plan for 28 units comprised of town homes and garden apartments. Zoned R 2—Medium Density Residential. Convenient access to Routes 512, 33 and 191.

EASTERN PA-OFFICE

MAREjournal.com

Mid Atlantic Real Estate Journal — Pennsylvania — November 11 - 24, 2011 — 9C

10C â&#x20AC;&#x201D; November 11 - 24, 2011 â&#x20AC;&#x201D; Pennsylvania â&#x20AC;&#x201D; Mid

Atlantic Real Estate Journal

MAREjournal.com

PAâ&#x20AC;&#x2122;S PREMIER AVAILABLE PROPERTIES EASTERN PA-INDUSTRIAL

EASTERN PA-OFFICE

CONSTRUCTION UNDERWAY!

COMMERCIAL â&#x20AC;˘OFFICE â&#x20AC;˘INDUSTRIAL â&#x20AC;˘RETAIL â&#x20AC;˘SALES/LEASING 3500 Winchester Rd. Allentown, PA 8,228 SF OFFICE SPACE

241 Cedar Crest Blvd. Allentown, PA 2,800 SF OFFICE SPACE

51-Acre Industrial Park For Lease or Build-to-Suit

â&#x20AC;&#x153;A Day at the OďŹ&#x192;ceâ&#x20AC;? t 4' %JWJTJCMF t 1SF DBTU $POTUSVDUJPO $MFBS t -PBEJOH %PPST %SJWF *O %PPST

Highlights

t 4' %JWJTJCMF t 1SF DBTU $POTUSVDUJPO $MFBS t -PBEJOH %PPST %SJWF *O %PPST t "CVOEBOU PO TJUF USBJMFS QBSLJOH t 3BJM 4FSWFE

PRIME LOCATION Highlights

â&#x20AC;˘Prestigious high quality building in a park like setting â&#x20AC;˘Class â&#x20AC;&#x153;Aâ&#x20AC;? Office building â&#x20AC;˘On-site Property-Owner Manager â&#x20AC;˘Energy efficient Geo Thermal HVAC â&#x20AC;˘Heat & Humidity Controlled Storage Space â&#x20AC;˘Plenty of on-site parking & optional garage space â&#x20AC;˘Top of the line security system with 12 digital cameras & key fob entry â&#x20AC;˘Walking distance to shops & restaurants â&#x20AC;˘Bus service to all major points of Leigh Valley â&#x20AC;˘Full commission paid to leasing representative

â&#x20AC;˘Across from Trexler Park â&#x20AC;˘Located at a large Residential Neighborhood â&#x20AC;˘High profile corner; Ceder Crest Blvd. & Chew St. â&#x20AC;˘Property-Owner management â&#x20AC;˘Located at traďŹ&#x192;c light â&#x20AC;˘On-site ample parking â&#x20AC;˘Walking distance to shops & restaurants â&#x20AC;˘Bus service to all major points of Leigh Valley â&#x20AC;˘Full commission paid to Leasing Representative

Features

â&#x20AC;˘Private offices/ Conference rooms â&#x20AC;˘Reception area/ Kitchen &breakroom area â&#x20AC;˘Underground spaces available for a fee

â&#x20AC;˘Wheel chair accessible â&#x20AC;˘Already set up for a professional oďŹ&#x192;ce â&#x20AC;˘Ground level floor with street access

Contact: Don Frederick, Associate Broker Phone: 610-841-4235 don@principalinvest.com 3500 Winchester Rd Suite 201 Allentown, PA 18104 www.tfgrealtors.com

EASTERN PA- OFFICE

Please join us for a HOLIDAY OPEN HOUSE and see Philadelphiaâ&#x20AC;&#x2122;s most creative & affordable space for your business - The Callowhill Center. Where: The Callowhill Center 421 N. 7th St., 5th fl. Philadelphia, PA

When: Thursday, Dec. 15th 5:00pm â&#x20AC;&#x201C; 7:30pm

Catering & open bar by JD McGuillicuddyâ&#x20AC;&#x2122;s. z Surprise celebrity guest appearance. z Networking. z Gifts & Prizes for all. z

RSVP: joshuazoppel@yahoo.com

The Callowhill Center has great views. But thatâ&#x20AC;&#x2122;s the least of what we have to offer.

MAREjournal.com

Mid Atlantic Real Estate Journal — Pennsylvania — November 11 - 24, 2011 — 11C

57 S. Commerce Way Bethlehem, PA 18017

83 S. Commerce Way Bethlehem, PA 18017

6,830 SF•3,170 SF

5,425 SF•1,736 SF

FEATURED PROPERTY 1495 Valley Center Parkway Bethlehem, PA 18017 3,569 SF • 10,740 SF 1525 Valley Center Parkway Bethlehem, PA 18017

1605 Valley Center Parkway Bethlehem, PA 18017

2,635 SF•2,806 SF 7,917 SF•7,345 SF

3,760 SF•5,190 SF

2041 Avenue C Bethlehem, PA 18017

7277 William Ave. Allentown, PA 18106

4,800 SF

12,000 SF

Exceptional commercial real estate solutions and services for businesses who demand more for their space. 1660 Valley Center Parkway Bethlehem, PA 18017

2201 Hangar Place Allentown, PA 18109

5,218 SF

754 Roble Road Allentown, PA 18109 4,800 SF•9,600 SF

559 Main Street, Suite 300 Bethlehem, PA 18018

6,410 SF—12,820 SF

3701 Corp. Parkway Center Valley, PA 18035 6,738 SF•4,996 SF

www.penncapproperties.com

964 Marcon Blvd. Allentown, PA 18109 7,800 SF•4,800 SF

Phone: 610•332•1100 Fax: 610•332•1111

12C — November 11 - 24, 2011 — Pennsylvania — Mid

Atlantic Real Estate Journal

MAREjournal.com

ONE OF OUR NEWEST PROJECTS UNDER CONSTRUCTION: LEHIGH VALLEY INDUSTRIAL PARK VII- COMMERCE CENTER BLVD 1.2 MILLION SQUARE FOOT CLASS A DISTRIBUTION FACILITY

Providing Real Estate Solutions in the Lehigh Valley for OVER 30 Years… and committed to serving our Communities for the NEXT 30 Years! CONTACT US FOR MORE INFORMATION: Troy F. Briggs. CCIM, CPM® - Cell: 610.633.7273/tbriggs@libertyproperty.com

74 W. Broad Street, Suite 530, Bethlehem, PA 18018

Green Advantage® Certified Practitioners

Lynn Conti - Cell: 610.883.2233/lconti@libertyproperty.com

Main Office Phone: 610.867.9100

Fax: 610.997.6651

MAREjournal.com

Mid Atlantic Real Estate Journal — Pennsylvania — November 11 - 24, 2011 — 13C

14C — November 11 - 24, 2011 — Pennsylvania — Mid

Atlantic Real Estate Journal

MAREjournal.com

PA’S PREMIER AVAILABLE PROPERTIES NORTH EASTERN PA- INDUSTRIAL/LAND

EASTERN PA- OFFICE & RETAIL

HUGE Price Reduction to $3,900,000! (Originally priced at $6,500,000)

200,000 SF on 32 developable acres Centrally located- access to major highways and rail Davis St, Moosic Located between two major metro regions 5 miles to Wilkes-Barre/Scranton Airport Former Mckinney Manufacturing For more information Contact Steve Farrell at 570.587.7000, ext 1102

CENTRAL PA- INDUSTRIAL/BUSINESS PARK ACREAGE

130 subdividable acres with full utility services, rail access and strategic location.

90 subdividable acres with full utility services, and strategic location.

50 acres remaining in parcels with full utility services in a nearly sold out business park.

Charles Blankenship, President • (717) 274-3180 • www.lvedc.org • Brokers Protected

MAREjournal.com

Mid Atlantic Real Estate Journal — Pennsylvania — November 11 - 24, 2011 — 15C

PENNSYLVANIA Adams of NAI Summit reps 215,323 s/f

NAI Summit leases 104,400 s/f to Coll Materials, LLC

L L E N T O W N , PA — Michael Adams of NAI Summit recently represented the owner of 5001 Crackersport Road in Allentown, PA in leasing 104,400 s/f of warehouse space to Coll Ma- Michael Adams terials, LLC; it is a 7 year lease worth $2.6 million. Coll Materials is a post-industrial and post-consumer plastic recycling company based out of Ohio and serves all of North America. In addition Michael Adams of NAI Summit recently leased over 34,000 square feet of space in two separate transactions. In the first transaction, Adams represented the tenant, Beck Packaging, in negotiating a lease renewal for 28,800 SF of warehouse space at 200 Cascade Drive, Lehigh Valley Industrial Park II in Allentown, PA. Beck plans to use the building for distribution and to house packaging materials.

5001 Crackersport Road In the second transaction, Adams represented the tenant, Orthopaedic Associates of Allentown (OAA), in leasing 5,855 SF of office space at 2901 Emrick Blvd. in Bethlehem, PA. OAA is a medical provider focused exclusively on orthopaedic care. Michael Adams of NAI Summit also recently represented HAF Inc. in leasing 1,923 s/f of office space at 5018 Medical Center Circle, Allentown, PA. The tenant is Dr. Amir

Katz. Adams also represented Dr. Katz in the lease. NAI Summit recently represented both the owner and tenant in a lease for 75,003 square feet at 1139 Lehigh Ave, Allentown, PA. John Crampsie, Principal, represented the owner, Whitehall Riverside LP, in leasing the space at Riverside Business Center. The tenant, Pennsylvania Steel Company, was represented by Michael Adams, Agent/VP at NAI Summit. ■

EARTH ENGINEERING INCORPORATED

Geotechnical Engineers & Geologists Subsurface Investigations Construction Inspection & Testing Retaining Wall Design Environmental Site Assessments and Remediation Clean Fill Testing Carbonate Site Assessments Stormwater Infiltration Testing Laboratory Soils Testing Corporate Headquarters: 610.277.0880 Lehigh Valley: 610.967.4540

Central PA: 717.697.5701 South Jersey: 856.768.1001

www.earthengineering.com

- 345 - 7002 30 MONMOUTH ST. REDBANK, NJ 07701 MAILING ADDRESS P.O. BOX 8357

Hylant Environmental Risk Management ENVIRONMENTAL INSURANCE SERVICES FOR: • Mergers & Acquisition • Contaminated Properties • Environmental Contractors and Consultants • Brownfield Redevelopment • Real Estate Investment Portfolios • Industrial and Manufacturing Facilities • Protection for Third Party Claims and Undiscovered Contamination Bruce W. Kranz | Senior Vice President 6000 Freedom Square Drive Suite 400 | Cleveland, OH 44131 | P: 216-674-2443 | C: 216-906-8898 | bruce.kranz@hylant.com | www.hylantenvironmental.com

16C — November 11 - 24, 2011 — Pennsylvania — Mid

Atlantic Real Estate Journal

MAREjournal.com

PENNSYLVANIA Leases totaling over 130,000 s/f

Stine & Rohrbaugh broker 16,527 s/f

ROCK Commercial leases 70,000 s/f industrial Space

CBC Bennett Williams facilitates 5,750 s/f lease

O R K , PA — R O C K Commercial Real Estate represented the transactions listed below: Members 1st Federal Credit Union bought 2.60 acres of commercial land at 4000 Carlisle Road in Dover, PA. ROCK Commercial Real Estate represented the seller in this transaction. Hobby Lobby Stores, Inc. leased 55,000 square feet of retail space at Gateway Hanover Shopping Center in Hanover, PA. ROCK Commercial Real Estate, LLC represented the landlord in this transaction. Voisard Manufacturing, Inc. leased 70,000 s/f of industrial space at 3635 Mia Brae Drive in York, PA. ROCK Commercial Real Estate, LLC repre-

3635 Mia Brae Drive sented the landlord and the tenant in this transaction. H & M Mobile Home Remodelers leased 6,985 s/f of industrial space at 140 South

Main St. in Manchester, PA. ROCK Commercial Real Estate, LLC represented the Landlord and the Tenant in this transaction. ■

CBRE brokers 10,000 s/f of Flex space WEST CHESTER, PA – Representing the owner, Park Valley Associates, Steve Italiano, senior vice president of industrial and office properties at CBRE, Inc., successfully brokered the sale of a 10,000 s/f light industrial/flex/office space unit at Park Valley Corporate Center in West Chester, PA. Unit 5, 1157 Phoenixville Pike in West Goshen Township, Chester County, is now home to Illuminations Inc., a manufacturer’s representative selling world class industrial commercial lighting products. Illuminations was represented by Frank Englund of First Liberty Partners and is moving to West Chester from its prior headquarters in Edgemont, Delaware County, PA. Illuminations Inc. chose Park Valley to expand its operations because of the corporate center’s high image, park-like setting near major highways. It is also the type

Park Valley Corporate Center of work environment the company wants their employees to experience. This represents the fourth flex condo CBRE has sold in the past year at Park Valley, totaling over 25,000 s.f. There

are still many units, ranging from 2,500 s/f to 20,000 s/f, remaining for sale or lease in the park, which is located just off Route 202, Route 100 and Route 322 near the Brandywine Airport. ■

If “Rocky” came back, he’d live at Siena Place PHILADELPHIA, PA — There are four icons that are indelibly associated with South Philadelphia: The Eagles, The Phillies, “Rocky Balboa” and the newest South Philadelphia premier residential destination, Siena Place. Living in a location that is home to many “champions” in business, sports, restaurants and a variety of organizations, the residents of Siena Place have one thing in common: the best in luxury townhome living, a superb location con-

venient to center city, the Jersey shorepoints, and all major highways. Ideally located with respect to great Philadelphia sports & cultural facilities, restaurants, shopping, places of interest/attractions, museums, history - and more. Siena Place itself is historymaking as an exciting new choice in an established and desirable neighborhood. The community is at the heart of the vibrant Packer Park neighborhood and is a master-planned

community featuring, inviting, three story brick townhomes, with one-or two-car garages. These elegant townhomes are built around or adjacent to preserved open green space. “We are proud that Siena Place in South Philadelphia continues to serve as an example of luxury, suburban-style living, just steps away from a mosaic of the most prominent cultural, dining, retailing, entertainment and sports venues in the entire region,” noted Victoria Teschner, director of marketing for Siena Place. ■

Wesley Drive Plaza Y O R K , PA — C o l d w e l l Liberty Tax leased the space Banker Commercial Bennett for 28 months from Cape Horn Williams has arranged the Square Associates, LP. Chad sale/lease of the following Stine & Brad Rohrbaugh of transactions: Bennett Williams represented 1,100 s/f of retail space at the landlord in the transacJim & Nena’s Plaza at 2755 tion. West Market St. in York. Soho 1,000 s/f of retail space at Computer Services leased the State Street Plaza at 829 space for 1 year from Mary State St. in Lemoyne. Anna Mulay. Chad Stine & Brad Marie Cross leased the space Rohrbaugh of Bennett Wil- for 3 months from State Street liams represented both the Plaza Associates. Chad Stine, landlord and the tenant in the Brad Rohrbaugh and Adam transaction. Hagerman of Bennett Wil500 s/f of retail space at liams represented both the Market Square Shopping Cen- landlord and the tenant in the ter at 589 South Main St. in transaction. Shrewsbury. American Built 5,750 s/f of retail space at Arms Company, LLC leased Wesley Drive Plaza at 1010 the space for 1 year from Wesley Drive in MechanicShrewsbury, LP. Chad Stine sburg. NEDC, LLC leased & Brad Rohrbaugh of Ben- the space for 62 months from nett Williams represented the Diversified-Wesley Drive, landlord in the transaction. LP. Chad Stine and Brad 4,108 s/f of retail space at Rohrbaugh of Bennett WilKingston Square at 2500 liams represented the landlord Eastern Blvd. in York. Premier in the transaction. Rental Purchase leased the 2,719 s/f of retail space at space for 5 years from Kings- South Pointe Centre at 720 ton Fixed Income Fund, LP. Quentin Rd. in Lebanon. BeauChad Stine & Brad Rohrbaugh ty Systems Group, LLC leased of Bennett Williams represent- the space for 5 years from ed both the landlord and the Downtown Lebanon Developtenant in the transaction. ers, LLC. Chad Stine & Brad 1,350 s/f of retail space at Rohrbaugh of Bennett WilCape Horn Square at 693 liams represented the landlord Lombard Rd. in Red Lion. in the transaction. ■

Judd Builder’s Premier Community IVYLAND, PA — Poet’s Walk, Judd Builder’s premier community in the Borough of Ivyland, has dramatically changed the residential landscape of this area. True to its name, Poet’s Walk embodies a distinctive homebuilding style that pays homage to the poetic mastery Dickenson, Wordsworth, Kipling, Browning and Emerson. Each home is uniquely inspiring in its own right. Judd is proud to introduce two new models at Poet’s Walk

this month. The Whitman and The Cambridge, each with exquisite architectural details and superior appointments, are the perfect addition to this stately community. The new floorplans will reflect the same exterior character and signature design of all the models at Poet’s Walk. By adapting the model’s size and attributes to fit today’s lifestyle needs, the perfect balance has been met between luxury and affordability. ■

MAREjournal.com

Mid Atlantic Real Estate Journal — Pennsylvania — November 11 - 24, 2011 — 17C

GARDNER DENVER FACILITY Al. Neyer, Inc. to serve as the design/build contractor

Altoona-Blair County to develop 70,000 s/f facility

LTOONA, PA – The Altoona-Blair County Development Corp. (ABCD Corp.) is excited to welcome Blair County’s newest business partner, Gardner Denver, Inc.’s Engineered Products Group to the heart of the I-99 Innovation Corridor. Gardner Denver will locate into a new 70,000 s/f facility in Antis Township, Blair County, Pennsylvania to respond to its rapid growth in the natural gas industry. The facility will manufacture and remanufacture high pumps and will provide onsite service and parts distribution to its customers in the Marcellus Shale region. The $15 million project will create at least 40 new jobs within three years. ABCD Corp., who through a special purpose entity, Blair County Development Corp. II, will serve as the owner/developer on this project. Through

Gardner Denver, Inc. its partners, a strategic financing package was compiled to serve the best interest of all parties to include; First National Bank, the Pennsylvania Industrial Development Authority and the Commonwealth of Pennsylvania. Through a competitive bidding process ABCD Corp. selected Al. Neyer, Inc. to serve as the design/build contractor on the construction of this project. Local contractors are serving as part of the construction team including Keller Engineers of Holliday-

sburg, PA; Curry Excavating of Duncansville, PA and New Enterprise Stone and Lime of New Enterprise, PA. Jonathan D. Bonime, a vice president with Fischer & Company’s Pittsburgh office, exclusive real estate brokers for Gardner Denver, who directed the site selection process and lease negotiations with ABCD Corp. stated, “This site provides our client with a central location to service the Marcellus Shale while also benefiting from the Keystone Opportunity Zone program.” ■

Project Team Project Developer: Altoona-Blair County Development Corp. Land Developer: Blair County Development Corp. II Design-Build Construction: Al. Neyer, Inc. Civil Engineer: Keller Engineers Site Work: Curry Excavating Paving: New Enterprise Tenant Representative: Fischer & Company

18C — November 11 - 24, 2011 — Pennsylvania — Mid

Atlantic Real Estate Journal

MAREjournal.com

Commercial Real Estate Women Lehigh Valley Chapter www.crewlehighvalley.org

2011 LEHIGH VALLEY BOARD OF DIRECTORS PRESIDENT TRACY YADUSH, RPA NAI SUMMIT PAST PRESIDENT FRANCEE FULLER BARRY ISETT & ASSOCIATES PRESIDENT ELECT TINA KISELA, SCSM,SCMD THE PROMENADE SHOPS, AT SAUCON VALLEY SECRETARY CATHERINE (KATE) DURSO FITZPATRICK LENTZ & BUBBA, P.C. TREASURER CYNTHIA MERRITT BUCKNO LISICKY & ASSOCIATES CORRESPONDING SECRETARY PAM MORRIS LIBERTY PROPERTY TRUST DIRECTORS-AT-LARGE MAUREEN O’MEARA HMK INSURANCE LYNN CONTI LIBERTY PROPERTY TRUST

2011 COMMITTEE CHAIRS SPONSORSHIP COMMITTEE KATE HART KNBT, A DIVISION OF NATIONAL PENN BANK PROGRAMS COMMITTEE JANE SCHIFF THE FREDERICK GROUP MEMBERSHIP COMMITTEE MICHELE GLOWER, PH.D THE ADVISORY GROUP COMMUNITY SERVICE COMMITTEE JODY KING, CCIM NAI SUMMIT PUBLICITY COMMITTEE FRANCEE FULLER BARRY ISETT & ASSOCIATES

CREW LV tours St. Luke’s-Anderson campus month before opening

First “from-the-ground-up” new hospital in PA in 40 years

ETHLEHEM, PA — More than 40 members and guests of CREW LV PA enjoyed a pre-opening tour of St. Luke’s – Anderson Campus in Bethlehem Township, located off the Freemansburg Avenue Exit of Route 33 north of I-78 .Built according to “green design” principals, the hospital is the first “from the ground up” new hospital to be built in Pennsylvania in 40 years. An early program sponsored by CREW LV featured founding-member Deborah Skeans, principal, Sperry Van Ness Imperial Realty, who explored the development potential of the 500 acres now owned by St. Luke’s Hospital & Health Network. The October 4th tour and presentation brought the discussion full circle as attendees toured the new hospital, part of the $200 million dollar first phase of development of the campus which includes a new cancer center and medical office building. The JG Petrucci Company, of Asbury, NJ and Bethlehem, PA is the master developer of the site. Rosalin Petrucci, marketing director of JG Petrucci Company, is also a CREW charter member. Hospital tours were led by Peter Polt, with JG Petrucci and David Green, with Iron Hill Construction. Lunch followed at the Courtyard by

A presentation followed lunch

St. Lukes Hospital, Anderson Campus

Guests return to the Courtyard by Marriott for lunch & the program after the hospial tour. A shuttle provided transportation between the two sites

Carmine Cerminara (left), principal of Cerminara Architects who designed the hospital, answers questions during the tour Marriott, Bethlehem where the program continued with remarks by Darla Frack, vice president of Patient Care Services for St. Luke’s Hospital--Anderson Campus who discussed the mission and

vision of the hospital. Carmine Cerminara, principal of Cerminara Architects, Hillsborough, NJ, gave insights into the collaborative design process and the “greening” of a hospital. ■

Peter Polt, project manager with JG Petrucci, offered wrap up remarks

CREW Lehigh Valley thanks its 2011 corporate sponsors: Annual Partner/Main Sponsor

Contributor

Fitzpatrick Lentz & Bubba

Langan Engineering

Liberty Property Trust

Lafayette Ambassador Bank

Tallman Hudders & Sorrentino

NAI Summit MKSD Architects

Friend Barry Isett & Associates Berks Economic Partnership HMK Insurance KNBT - A Division of National Penn Bank JG Petrucci, Inc. North Star/Polaris The Dietrick Group, LLC

Upcoming Events November 16: Seventh Anniversary Annual Meeting, 11:30am, Lehigh Country Club 2319 S. Cedar Crest Blv.d, Allentown, PA MEMBERS ONLY December 8: Holiday Luncheon, 11:30am, Ben Franklin TechVentures, Lehigh University Mountaintop Campus 116 Research Drive, Bethlehem, PA Full details and reservations at the events page of http://www.crewlehighvalley.org For membership information, please contact Dr. Michele Glower, The Advisory Group, mglower@yahoo.com

MAREjournal.com

Mid Atlantic Real Estate Journal — Pennsylvania — November 11 - 24, 2011 — 19C

where YOUR STYLE comes to life

Corporate, Business & Banking

FITZPATRICK LENTZ & BUBBA, P.C. IS PROUD TO SUPPORT

Real Estate, Land Use & Development

CREW Lehigh Valley

Litigation Estate Planning & Administration of Estates and Trusts Health Care

Located one mile from I-78 on Route 22

Employment Law Bankruptcy Elder Law Family Law

f itzpatrick L entz & B ubba

BEST PLACES to work in

attorneys at law

Pam Richetta, General Manager 908-454-4715

Celebrating more than 20 years as the Valley’s law firm of choice.

Shop PhillipsburgMall.com

4001 Schoolhouse Lane • Stabler Corporate Center • Center Valley, PA

610-797-9000 • info@flblaw • www.FLBLaw.com A Pennsylvania Real Estate Investment Trust® Property

BARRY ISETT & ASSOCIATES, INC.

DesignPoint, Inc.

Consulting Engineers & Surveyors www.barryisett.com

Contract Interior Design & Purchasing Firm Bethlehem, Pennsylvania

Helping Clients Reach Real Estate Development Goals Since 1977 Environmental Assessments • Condition Assessments Surveys • Site Design • Permitting • Traffic Studies Highway Design • Landscape Design • Structural Design Mechanical, Electrical, Plumbing Design

Full - Service Engineers PA • NJ • MD Contact Francee Fuller, Marketing Manager

COMMERCIAL & INDUSTRIAL RE

610-398-0904

ffuller@barryisett.com

Proud to Support CREW Lehigh Valley

Our clients satisfaction is the Key to our success! Interiors That Make a Difference

Specializing in Complex Valuations and Expert Testimony

John R. Ingram II, MAI MRICS, AICP, CTA President & CEO P: 610-798-9877 Email:IngramREG@aol.com F: 610-798-9878

•Corporate •Hospitality • Medical & Eldercare Facilities

Attention CREW Lehigh Valley Members!!!

Michele Glower, Ph.D., Consultant 484-951-4081 dr.glower@gmail.com

COMMERCIAL REAL ESTATE

Award Winning Interior Design & Space Planning for

COMMERCIAL VALUATION

INGRAM REAL ESTATE GROUP

610-398-4000

T: 610.807.9670

www.designpoint-interiors.com

If you would like to advertise in GLOBAL OPERATIONS

COMMERCIAL REAL ESTATE

the Mid Atlantic Real Estate Journal,

Please Contact: Elaine Fanning, Publisher 800-584-1062 x 212 or Real Estate Sales, Appraisal & Property Management

Real Estate Sales, Appraisal & Property Management

email Elaine at efanning@marejournal.com

20C — November 11 - 24, 2011 — Central Pennsylvania — Mid

Atlantic Real Estate Journal

MAREjournal.com

PEOPLE ON THE MOVE Four new staff members to join growing team

Colliers International | Pittsburgh

Hollenbeck, Marconi, Kelly & Baran of KSS Architects

Employees team up to make a difference

RINCETON, NJ —KSS Architects is excited to welcome four new staff members to its growing team in Princeton and Philadelphia. Nicole E. Hollenbeck, LEED AP, an intern architect, brings more than four years of profes- Nicole Hollenbeck Alexis Baran sional experience in architecture. She is working with KSS’ industrial architecture group sylvania. Marconi is working to design Teva Pharmaceuti- with KSS’ higher education cals’ new 1-1.2 million square architecture group to design feet distribution center in a general classroom building Philadelphia. She received a at Virginia Commonwealth Bachelor of Architecture from University. She holds a Master Philadelphia University. of Architecture and Bachelor Christina Marconi returned of Arts in Architecture, Cum to KSS as an intern architect Laude, both from the Univerafter interning with the firm sity of Pennsylvania. last summer. She has interned Michael Kelly joined KSS as in architecture and graphic the firm’s operations manager. design and has helped teach a With three years of experisummer design intensive pro- ence in business operations gram for high school students and financial management, at the University of Penn- he coordinates team staffing,

PITTSBURGH, PA — Colliers International | Pittsburgh will join the fight against breast cancer on Saturday, October 29 by participating in the American Cancer Society’s Making Strides Against Breast Cancer, a 5K non-competitive walk to be held on Pittsburgh’s North Michael Kelly Christina Marconi Shore. 2011 marks the second year that the American Cancer Sodevelops projections, and over- ciety will be hosting the event sees AIA contracts for clients in Pittsburgh. In 1993, the and consultants. Kelly holds first Making Strides Against a Bachelor of Communication Breast Cancer walk was held from Rutgers, The State Uni- in Boston; the organizers creversity of New Jersey. ated the event to raise awareAlexis Baran joined KSS as ness and funds to win the fight the firm’s marketing coordina- against breast cancer. tor. With previous experience The American Cancer Sociin graphic design and advertis- ety is thrilled to finally bring ing, she works on proposal sub- this event to the Greater Pittsmissions, marketing presenta- burgh area. tions and advertisements. She Jessica Jarosz, Associate at holds a Bachelor of Arts in Colliers International | PittsArchitecture from the Univer- burgh, will lead the Colliers sity of Pennsylvania. ■ International | Pittsburgh team in the American Cancer Society Making Strides Against Breast Cancer walk. As team leader, Jessica has most respected referral list of recruited team members to participate or make donations attorneys in practice.” The tradition of excellence at the law firm of Eastburn & Gray, P.C. began over 130 years ago and continues today. With law offices in YORK, PA — First Capital Doylestown, BucksCounty Engineering, Inc. (FCE) will and Blue Bell, Montgomery celebrate its 16th anniversary County, Pennsylvania our this month. Owners Ann Luexperienced attorneys provide ciani, CEO and John Luciani, high quality legal services PE, PLS, President, opened throughout Pennsylvania and the company’s Market Street New Jersey. As a full service office doors in 1995. Since firm, Eastburn & Gray attor- then, FCE has moved to their neys practice in many diverse current office location at 48 S. areas of the law, enabling us Richland Avenue. to effectively meet the needs When FCE first started out, of all clients ■ it was a strictly civil engineer-

VanLuvanee & Jonas of Eastburn & Gray selected for inclusion of Best Lawyers 2012 BUCKS COUNTY, PA –John VanLuvanee, Esquire and Marc D. Jonas, Esquire, land use attorneys in the law firm of Eastburn & G r a y, P. C . were recently selected for inclusion in The Best Lawyers in John VanLuvanee America® 2012. Since its inception in 1983, Best Lawyers has become universally regarded as the definitive guide to legal excellence. Because Best Lawyers

is based on an exhaustive peer-review survey in which more than 41,000 leading attorneys cast almost 3.9 million votes on the legal abilities of other lawyers in their practice areas, Marc D. Jonas and because lawyers are not required or allowed to pay a fee to be listed, inclusion in Best Lawyers is considered a singular honor. Corporate Counsel magazine has called Best Lawyers “the

First Capital celebrates 16th anniversary

ROCK Commercial Awarded Best Places to Work in PA PENNSYLVANIA — ROCK Commercial Real Estate, LLC. has been named one of the Best Places to Work in PA for 2011. The awards program, created in 2000, is one of the first statewide programs of its kind in the country. The program is a public/private partnership between Team Pennsylvania Foundation, the Pennsylvania Department of Community and Economic Development, the Pennsylvania State Council of the Society for Human Resource Management, and the Central Penn Business Journal. This survey and awards program was designed to identify, recognize and honor the best places to be employed in

Pennsylvania, benefiting the state’s economy, its workforce and businesses. Employers are categorized based upon the total number of employees they have in the United States, 25 to 249 employees and 250 or more employees. ROCK Commercial’s four partners feel it is the synergy, energy and concerted effort of the entire ROCK Team that made this achievement possible. “We are so appreciative of all of the ROCK Team Members who are consistently caring, dedicated and engaged in creating a great place to work and who provide exceptional service to our customers and clients,” stated Sandy Rotz, Partner, and Director of Operations.

to help save lives from breast cancer. “Here in the Pittsburgh market, the American Cancer Society, companies such as Colliers International | Pittsburgh, and thousands of cancer survivors and volunteers are thrilled to be holding our very first Making Strides Against Breast Cancer event,” said Jessica. “This will be a start to an annual event for Colliers International | Pittsburgh to raise money for cancer research. It is extremely important that we continue to be involved in our community and support a laudable cause. We are thrilled to take part in the 2nd Annual 5K Walk for American Cancer Society Making Strides Against Breast Cancer and hope to continue to exceed our Team Goal with our fundraising efforts.” This year alone, more than 192,000 women and men will be told, “You have breast cancer,” including 9,500 Pennsylvanians. While these statistics are staggering, the American Cancer Society offers hope. They are comprehensive in their scope of programs and services. ■

Companies from across the state entered the two-part process to determine the 100 Best Places to Work in PA. The first part of this process was evaluating each nominated company’s workplace policies, practices, philosophies, systems and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration and survey process. ■

ing firm. Since then, the firm has grown to provide and specialize in, stormwater and wastewater treatment/design, land surveying services, construction inspection services, land planning, development and design. “We are fortunate to have

such a great team of professionals who work so well together,” said Ann Luciani, “I’ve seen each of them grow professionally and personally, since they started.” First Capital Engineering has developed a rapport with clients, who keep coming back to the firm for their services 16 years later. “Ann and I started First Capital Engineering to not only offer professional services, but to give back to the community as a leader, and ultimately leave a legacy in York County. We are grateful to all of our clients who continue to give us a chance to provide our services to them,” said John Luciani. ■

NAI Summit “Jeans Day for a Cause” ALLENTOWN, PA – NAI Summit employees recently held a “Jeans Day for a Cause” fundraiser in which employees gave money to wear jeans for the day. The money was then donated to the 32° Masonic Learning Center for Children in Allentown, PA. The Learning Centers, lo-

cated in 15 states, provide free tutoring to dyslexic children in kindergarten through high school. Children are eligible regardless of economic status, race, religion, or Masonic affiliation. NAI Summit holds Jeans Day once a month and donates the monies raised to various causes and charities. ■

MAREjournal.com

Mid Atlantic Real Estate Journal — Pennsylvania — November 11 - 24, 2011 — Inside Back Cover C

PENNSYLVANIA EXCAVATION/PAVING

CONSULTING ENGINEER

BreakingNew NewGround Ground Breaking 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

• Project Management • Development Due Diligence & Feasibility Studies • Agency Permitting • Land Development Design

Earn a LEED Innovation Credit by using B.R. Kreider & Son, Inc.

• Construction Phase Services • Graphic Services

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

63 Kreider Lane Manheim, PA 17545 (717) 898-7651

www.brkreider.com

COMMERCIAL REAL ESTATE

PHILADELPHIA METRO OFFICE: 8614 Montgomery Avenue Wyndmoor, PA 19038 215-836-2510

PITTSBURGH OFFICE: 201 Penn Center Boulevard, Suite 400 Pittsburgh, PA 15235 412-253-6569

LANCASTER OFFICE: 1853 William Penn Way, P.O. Box 10368 Lancaster, PA 17605-0368 717-672-0614

NEW JERSEY OFFICE: 100 Overlook Center, Suite 200 Princeton, NJ 08540 609-920-0268

LANDCOREconsulting.com

ARCHITECTURE/ENGINEERING/ENVIRONMENTAL

The James Balliet Commercial Group “The Lehigh Valley’s Premier Full Service Commercial Real Estate Company” x x x x x x x

Shopping Center Sales & Leasing Retail, Office, Medical & Industrial Properties Tenant Representation Business Brokerage Commercial Land Brokerage Multi Unit Apartments Distressed Property & Asset Management

KW Commercial | 40 S. Cedar Crest Blvd.| Allentown, PA 18104

610-435-4711 www.lehighvalleycommercial.com

CREATIVITY ō QUALITY ō EXPERTISE 800.301.3077 www.blcompanies.com Pennsylvania | Maryland | New York | Connecticut

C Back Cover — November 11 - 24, 2011 — Pennsylvania — Mid

Atlantic Real Estate Journal

MAREjournal.com

When getting your product to market every second counts. Unnecessary delays are a sure-ﬁre way to lose customers – and money. Mericle’s CenterPoint Commerce & Trade Park is practically delay proof. The park is less than one mile from I-81 and I-476. Plus, FedEx Ground, UPS and FedEx Express all have major facilities inside or adjacent to CenterPoint. Great space in a great location with great overnight delivery companies. That’s CenterPoint.

For more information on the below properties, call Bob Besecker, Jim Hilsher, Bill Jones, or Dan Walsh.

U N D ER CO N S T R U C T I O N ! 250 Enterprise Way, Pittston Township

400-450 CenterPoint Blvd., Jenkins Twp.

345 Enterprise Way, Pittston Township

Parcel 1, Keystone Avenue., Jenkins Twp.

CenterPoint Commerce & Trade Park West

CenterPoint Commerce & Trade Park East

CenterPoint Commerce & Trade Park West

CenterPoint Commerce & Trade Park East

• 51.15 acre build-to-suit site

• 99,200 SF to 198,400 SF available

• 108,939 SF flex space available

• Graded, flat 7.89 acre site

• Can fit up to 507,600 SF

• 33’ to 36’7” ceilings

• 30’ to 33’ ceilings

• Proposed 58,000 SF office

• Fully graded, NPDES permit

• 26 loading doors, 1 drive-in

• 14 loading doors, 1 drive-in door

• Permitted and approved

• 10-year property tax abatement

• Multi-year property tax abatement

• Close to I-81 and I-476

177-193 Research Drive, Jenkins Twp.

275-287 CenterPoint Blvd., Jenkins Twp.

145-173 CenterPoint Blvd., Jenkins Twp.

201-221 Research Drive, Jenkins Twp.

CenterPoint Commerce & Trade Park East

• Cleared and graded 6.35 acre site

• 37,329 SF available

• 14,112 SF available

• 21,085 SF available

• Suitable for up to 57,600 SF

• 33’4” to 36’8” ceilings

• 30’6” to 33’6” ceilings

• 29’11” to 33’6” ceilings

• Good for industrial, flex or office use

• 6 loading doors

• 5 loading doors

• 3 loading doors

• Close to I-81 and I-476

• Abundant trailer storage

• Energy efficient T-bay lighting

• 3,239 SF office space

Visit our web site to see hundreds of buildings and sites from

1,000 SF to 1,000,000 SF. 240-258 Armstrong Road, Jenkins Twp.

195 Research Drive, Jenkins Twp.

169 CenterPoint Blvd., Jenkins Twp.

CenterPoint Commerce & Trade Park East

• 16,844 SF available

• 6,631 SF to 13,659 SF available

• 8,023 SF available

• 29’10” to 34’2” ceilings

• 29’11” to 33’6” ceilings

• 30’6” to 33’6” ceilings

• 3 loading doors

• 2 loading doors

• 1 loading door

• Energy efficient T-bay lighting

• Large parking areas

• 1,632 SF of office space

Call Today!

USE YOUR SMARTPHONE TO SEARCH OUR DATABASE OF PROPERTIES. • For iPhones, download “QR Reader” App. • For Androids, download the “QR Droid” App.

570.823.1100 Developing Pennsylvania's I-81 Corridor for 25 Years.