REAL ESTATE JOURNAL the most comprehensive source for commercial real estate news
Volume 24 Issue 4 Feb. 24 - March 15, 2012
ISSUE HIGHLIGHTS Guest Columnist Robert Watson, Jr.
2
10-11 Balliet of KW-The James Balliet Commercial Group inks $16.35m sale
15
For office and multifamily properties in NJ and PA
F
Meridian Capital Group, LLC negotiates $28.9 million in financing
ORT WASHINGTON, PA – Meridian Capital Group LLC, negotiated a $7.1 Million mortgage for a medical office building located in Fort Washington, PA. The five-year financing features a favorable rate of 4.75% And was provided by a local savings bank. This transaction was negotiated by Joshua Gorsky, a mortgage finance advisor based in meridian capital’s New Jersey office. The two-story, 33,000 s/f multi-tenant, medical office building is located at 467 Pennsylvania Avenue. The property was recently renovated and has been fully occupied for more than five years by a stable tenant base that is attracted to its location and the recent capital improvements. The tenants in the building include highly specialized practices with fully functional operating rooms and teaching suites used to hold virtual demon-
467 Pennsylvania Ave. strations of state-of-the-art procedures. In other news – Meridian Capital Group, LLC, announced the following transactions: Meridian negotiated a new mortgage in the amount of $6.4m for the Lion’s Gate Apartments, a garden-style multifamily complex located in Philadelphia, PA. The loan
features a rate of 4.20% and a 10-year term. The transaction was negotiated by Israel Schubert. A new mortgage of $7.1m was placed by Meridian on a medical office building on Pennsylvania Avenue in Fort Washington, PA. The property contains eight units totaling 33,000 s/f. The loan features a rate of 4.75% and
a five-year term. The transaction was negotiated by Joshua Gorsky. Meridian negotiated $2.4m in acquisition financing for the purchase of a 39-unit multifamily building on Euclid Avenue in Hackensack, NJ. The loan features a rate of 4.50% and a 10-year term. The transaction was negotiated by Steve Tessler. A new mortgage of $1.5m was placed by Meridian on a five-story, 38-unit multifamily building situated on Lareine Avenue in Bradley Beach, NJ. The loan features a rate of 4.75% and a five-year term. The transaction was negotiated by Steve Tessler. A new mortgage of $7m was placed by Meridian on Cheswick Square Apartments, a 111-unit garden-style, multifamily complex located in Philadelphia, PA. The loan features a rate of 4.20% and a 10-year term. The transaction was negotiated by Israel Schubert. ■
Cronheim Mortgage arranges $25.5m in financing for 485 multifamily units BORDENTOWN, NJ — David Turley and Anna Westhoff of Cronheim Mortgage teamed up to arrange permanent mortgage financing totaling $25,475,000 for nine multifamily properties located in New Jersey and New York City. The 5 and 10-year loans
were placed with three banks and an insurance company. The 5-year rates averaged 3.55% while the 10-year rates were locked as low as 4.1%. All of the loans were non-recourse.
The properties range in size from a 105-unit midrise to a 40-unit garden apartment complex. With the exception of one luxury asset, the properties are located in the
Directory Shopping Centers ........................ 15-30
Owners, Developers & Managers. 7-14 Green Buildings ........................... 31-41
Upcoming Spotlights The Best of 2011 Continuing Education www.marejournal.com
Bordentown, NJ
working class communities of Bordentown, NJ; Ewing, NJ; Irvington, NJ; Bound Brook, NJ and Upper Manhattan. “Investors have recognized that while middle income communities around the country are still struggling to recover from the Great Recession, workforce housing demand in New Jersey and New York City is strong,” said David Turley. “Lenders have noted improving multifamily fundamentals and are increasing allocations for apartment loans. Many will stretch to win a particularly attractive deal.” Anna Westhoff noted that five of the loans were refinances with significant cash out to the borrower. “While many lenders are hesitant to allow borrowers to leverage up their assets with non-recourse capital,” she said, “we have identified several sources that are not sensitive to cash-out transactions.” ■
Inside Cover — February 24 - March 15, 2012— Mid
Atlantic Real Estate Journal
www.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
Mid Atlantic Real Estate Journal — February 24 - March 15, 2012 — 1
www.marejournal.com
Relationship Driven. Execution Focused. Recent New Jersey and Mid-Atlantic Financing Transactions:
Hunters Glen 1,124 Units
Hudson Square South 150 Units
Goshen Terrace Apartments 384 Units
Toftrees Apartments 541 Units
$49,000,000
$33,000,000
$32,000,000
$31,400,000
Delran, NJ
Hoboken, NJ
West Chester, PA
State College, PA
Steward’s Crossing 241 Units
Park at Westminster 270 Units
West Creek Village 306 Units
Woods at Narraticon 150 Units
$27,200,000
$24,000,000
$16,000,000
$16,950,000
Princeton, NJ
Warrington, PA
Elkton, MD
Deptford, NJ
Liberty Commons 98,400 Sq. Ft.
Merritt Station 296 Units
Feasterville Plaza 110,000 Sq. Ft.
Regency Woods Apts. 156 Units
$15,800,000
$15,300,000
$15,000,000
$14,750,000
East Rutherford, NJ
Meriden, CT
Feasterville, PA
Doylestown, PA
5RXWH 6RXWK %XLOGLQJ ) )LUVW )ORRU ,VHOLQ 1- _ ZZZ PHULGLDQFDSLWDO FRP
2 — February 24 - March 15, 2012 — Mid
MAREJ
Atlantic Real Estate Journal
Mid Atlantic ADVERTISERS DIRECTORY
Real Estate Journal
www.marejournal.com
Mid Atlantic REAL ESTATE JOURNAL Publisher ............................................................................Linda Christman Co-Publisher .........................................................................Joe Christman Section Publisher ..............................................................Michael Campisi Section Publisher ................................................................ Elaine Fanning
A Greener NJ.............................................................32
Senior Editor/Graphic Artist ................................................ Karen Vachon
ABC Organization ..................................................... 11
Production Assistant ........................................................ Rachel Rugman
Aldo Design Group ......................................................8
Office Manager ...................................................................Joanne Gavaza
All-Rite Construction ................................................22
Editorial Consultant ............................................................. Ben Summers
Auctioneers Directory .................................................5 Billboard Classifieds.. ...............................................44 Birdsall Services Group ............................................38
By Robert R. Watson, Jr.
Recent PA Decision Tips Scales Further in Favor of Mechanics’ Lien Claimants
Brasler ......................................................................BC Capitol Aerials. ..........................................................32 CBC Bennett Williams.........................................15,20 Cronheim .....................................................................6 Cooper Roofing Inc. .....................................................9 Deerwood RE Capital..................................................6 Delmarpa Janitorial Svcs .........................................14 Delran Builders ......................................................... 11 Earth Engineering.. ..................................................16 Fowler ........................................................................34 Franchise World ........................................................18 Gebroe Hammer Assoc. .......................................... IBC Geyer Auctions ............................................................5 Gilbeaux Associates, P.C. ..........................................32 Haftek CWS...............................................................34 Hutchinson Mechanical Services .............................36 IREM .........................................................................13 J.H. Cohn .....................................................................3 Kay Realty Services ..................................................22 KW Commercial ........................................................22 LANDCORE ..............................................................23 Liberty Property Trust ..............................................41 Marcus & Millichap T/Z ............................................21 Max Spann Real Estate Co .........................................4 Meridian Capital Group, LLC .................................1,3 Metro Commercial.. ..................................................23 Metro Management...................................................16 MONTECALVO .........................................................37 Northmarq ...................................................................3 ONDRA-HUYETT Associates.....................................8 Poskanzer Skott Architects ......................................14 Provident Bank ...................................................... IFC RD Management ..................................................26-27 REMCO Realty ..........................................................25 Retail Brokerage Directory.......................................29 ROCK Commercial.. ..................................................18 Silbert Realty & Management .................................28 Sun Farm Network ...................................................33 Taylor Long Properties .............................................20
Guest Columnist .......................................................Robert R. Watson, Jr. Mid Atlantic REAL ESTATE JOURNAL ~ Published Semi-Monthly P.O. Box 26 Accord, MA 02018 (Mail) 312 Market Street, Rockland, MA 02370 (Overnight) Periodicals postage paid at Rockland, Massachusetts and additional mailing offices Postmaster send address change to:
E
very state affords some level of protection to contractors, subcontractors and suppliers who have provided labor and materials toward the improvement of real estate. Commonly known as construction or mechanics’ liens, in the United States the entitlement to a claim has its roots in the founding of Washington, DC. Thomas Jefferson and James Madison encouraged the Maryland legislature to provide a mechanism by which contractors could feel confident venturing into the swampland to construct the buildings and improvements which now constitute our capital city. While lien claims had their origin in ancient law dating back to Roman times, their modern form is clearly a creature of statute. Each state’s legislative scheme outlines a different set of steps which must be followed in order to perfect a lien claim. The timing of advance notices, pre-lien certifications and actions to enforce lien rights vary wildly from state-to-state, as does the case law interpreting a potential claimant’s entitlement to take advantage of this often pivotal right to demand payment not only from a contractor who is in default, but from the owner of real estate itself even if it has no contract with the party seeking to file a lien claim. Pennsylvania courts have traditionally adhered to a very strict reading of its Lien Law, noting that the remedy is in derogation of common law; and due to the special nature
Mid Atlantic Real Estate Journal, P.O. Box 26, Accord, MA 02018 USPS #22-358 | Vol. 24 Issue 4 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
thereof, when a party’s rights to file a lien are challenged, its entitlement will be closely scrutinized. Often owners or other parties opposing a lien claim will rely on older cases interpreting the statute, which suggest that if the strict terms of the Lien Law are not rigorously adhered to, a claimant’s lien may be subject to prompt dismissal. In PA, owners may no longer rely on this strict scrutiny to tip the scales in their favor, and against a lien claimant’s rights. Last month, in Bricklayers of Western Pennsylvania Combined Funds, Inc. v. Scott’s Development Co., the Pa. Superior Court confirmed for the first time that when defining the class of available lien claimants, the scope of the Lien Law’s protections must receive a broad interpretation, to further the statute’s remedial purpose of protecting pre-payment of labor and materials, and to promote justice. In Bricklayers, the lien claimants were trustees of union employee benefit funds; and the owner asserted that the benefit funds were not entitled
to assert a lien claim for unpaid contributions. In reaching its decision, the Superior Court found that union members’ collective bargaining agreements actually qualified as “subcontracts” under the Lien Law. The Superior Court held the statute must be “liberally construed” to “effectuate the Mechanics’ Lien Law’s remedial purpose of protecting pre-payment of labor and materials.” In language which will reverberate in PA Lien Law cases for the foreseeable future, and brings interpretation of the statute into line with some neighboring states, the PA Superior Court notes, If the Mechanics’ Lien Law is to be construed to advance its remedial purpose, the scope of the statute’s protection should receive a liberal interpretation, especially when it involves defining the class of available lien claimants. If you are considering whether you have a right to file or dispute a mechanics’ lien claim on a given project, it is still essential to bear in mind those legal deadlines for notification to continued on page 3A
Make your business card work as hard as you do PR / MARKETING for more info
Call Linda Christman
800-584-1062 781-871-5298
Mid Atlantic Real Estate Journal
Tranzon Auction ..........................................................5 Warner RE & Auctions................................................5 Wohlsen Construction ............................................... 11 WP Realty ..................................................................17
To advertise, call 1-800-584-1062
If you do not have a business card readily available, our art department will design one for you at no extra charge!
Mid Atlantic Real Estate Journal — February 24 - March 15, 2012 — 3
www.marejournal.com
MID ATLANTIC REAL ESTATE JOURNAL CBRE represents landlord in 45,000 s/f lease
Bergen & McGhee of Colliers Int’l. facilitate $6.125m sale
B
RISTOL, PA — Colliers International’s Industrial Division announced the sale of a manufacturing facility formerly owned by Ferag. The 128,000 s/f property, located at 190 Rittenhouse Circle in the Keystone Industrial Park was sold to Action Manufacturing for $6.125 million. Colliers International’s Larry Bergen and Andy McGhee were the sole brokers in this transaction. In a seperate transaction Colliers announced the lease of 45,000 s/f at the Tri-County Business Campus located at 1000 Armand Hammer Blvd., Pottstown to Service Partners
DEBT | EQUITY INVESTMENT SALES
Innovative solutions and deep expertise for all of your commercial real estate ďŹ nancing needs.
190 Rittenhouse Circle of the Carolinas, a MASCO CO companies include such subsidiary. renowned brands as Kohler, This long term lease will en- Kraftmaid and Behr Paints. able MASCO’s popular insulaLarry Bergen of Colliers tion division, known as East represented MASCO in this Coast Insulation, to better lease transaction. CBRE repserve its customer base along resented the landlord, BCW the Eastern seaboard. MAS- Associates. â–
Recent PA decision tips scales further in favor of mechanics . . . the owner of an intention to file where applicable, and then for filing, serving and prosecuting the lien claim in a timely fashion. Other important timing deadlines in the PA Lien Law still apply, and in this rocky development and construction environment potential claimants do find it is necessary to act on those rights sooner instead of later. The owner in
Capital Markets
that case has filed a petition for allowance of appeal, but it is not clear whether the state Supreme Court will review the decision. For owners, contractors, subcontractors and suppliers in Pennsylvania, the Bricklayers decision, as it currently stands, establishes that when debating whether a party who has otherwise complied with the technical requirements of the Lien
Law is properly entitled to state a claim in the first place, the scales of justice should tip in favor of allowing the aggrieved contractor, subcontractor or supplier’s claim to proceed. Robert R. Watson, Jr. has practiced in the field of construction law since 1999. He is an attorney with Eastburn and Gray, PC in its Blue Bell, PA office. â–
Let’s talk real estate, strategist to strategist.
NEW JERSEY | PHIL ADELPHIA BALTIMORE | UPSTATE NEW YORK
northmarq.com 33 ofďŹ ces coast-to-coast
Recent Financings Arranged By Meridian Capital Group
Hunters Glen 1,124 Units
Steward’s Crossing 241 Units
$49,000,000
$27,200,000
Delran, NJ
Princeton, NJ
West Creek Village 306 Units
Woods at Narraticon 150 Units
$16,000,000
$16,950,000
Elkton, MD
Deptford, NJ
Let’s talk about what J.H. Cohn brings to real estate owners, developers, funds, and investors. A team of audit, tax, and consulting experts dedicated to your industry. Forward-thinking advisors who understand the impact of market conditions and help you plan accordingly. Tax planning specialists to guide strategies for acquiring and divesting assets. Unmatched integrity. Unsurpassed client satisfaction. If that is what you’re looking for in an accounting ďŹ rm, talk to J.H. Cohn. Ronald Kaplan, CPA Real Estate Industry Practice Director, 646-834-4179
Sharon Gordon, CPA Partner, Real Estate Industry Practice, 973-403-7989
)RXQGHG LQ 0HULGLDQ &DSLWDO *URXS //& LV RQH RI WKH QDWLRQâV ODUJHVW FRPPHUFLDO UHDO HVWDWH ðQDQFH DQG DGYLVRU\ ðUPV :RUNLQJ ZLWK D EURDG DUUD\ RI FDSLWDO SURYLGHUV 0HULGLDQ DUUDQJHV ðQDQFLQJ IRU WUDQVDFWLRQV RI DOO VL]HV DQG SURSHUW\ W\SHV LQFOXGLQJ
We t u r n e x p e r t i s e i n t o r e s u l t s.
jhcohn.com NJ . NY .
877. 704.3500 CT . MA . CA
Patrick J. O’Keefe, Director of Economic Research, J.H. Cohn
á 0XOWLIDPLO\ á &R 2S á 2IILFH
Joe Torre
á 5HWDLO á 0L[HG 8VH á ,QGXVWULDO
á +RVSLWDOLW\ á +HDOWKFDUH á 6WXGHQW +RXVLQJ
á 6HQLRU +RXVLQJ á 6HOI 6WRUDJH á &RQVWUXFWLRQ
3OHDVH FRQWDFW ,VUDHO 6FKXEHUW DW WR OHDUQ PRUH DERXW 0HULGLDQâV XQLTXH DSSURDFK DQG WR GLVFXVV \RXU ðQDQFLQJ QHHGV 9V\[L :V\[O )\PSKPUN - -PYZ[ -SVVY 0ZLSPU 51 c ^^^ TLYPKPHUJHWP[HS JVT
4 — February 24 - March 15, 2012 — Mid
Atlantic Real Estate Journal
MID ATLANTIC REAL ESTATE JOURNAL
Wanted AUCTION NEWS
Local Affiliate NAI Emory Hill to Benefit
SEND NEWS RELEASES AND PHOTOS The Mid Atlantic Real Estate Journal welcomes all editorial dealing with commercial/ office properties.
Call 1-800-584-1062 Ask for Linda lchristman@marejournal.com
www.marejournal.com
C-III Capital Ptrs. completes NAI Global acquisition
N
EW CASTLE, DE — NAI Global has an-
nounced that its previously reported acquisition by C-III Capital Partners LLC (C-III) has been c o m p l e t e d , Carmen Facciolo, Jr. which will greatly benefit Delaware affiliate NAI Emory Hill according to President Carmen Facciolo, Jr. “NAI Emory Hill will retain its independent company sta-
tus and will remain a local leader in commercial real estate in Delaware and the tri-state area with its many solid client relationships and property offerings, but can now capitalize further on NAI Global’s expanded services and resources for our clients through the merger with CIII,” Facciolo said. NAI Global will continue to operate as a separate company under its current management. C-III will accelerate NAI Global’s growth by exploring business development opportunities in strategic locations,
AUCTION A Major New Home Offering
Massive Developer Portfolio Auction Over 650+/- Parcels throughout Berks County Minimum Bids of $35,000 & $55,000 Previous Asking from $256,000 & $365,000
Group A...16 Townhomes Sold Individually...Minimum Bids $35,000 Group B...8 Single-Family Homes Sold Individually...Minimum Bids $55,000 Group C...13 Lots Sold Individually...Absolute Group D...13 Developments: 4-36 Buildable Lots...Absolute Group E...6 Land parcels: from 8-88 Acres
MArCh 10th 2012
See our website for Open House Schedule & detailed Property Information Package
www.maxspann.com Max Spann real Estate Co.
888-299-1438
In Cooperation with Prudential Fox & Roach Realtors Auctioneer Robert Dann – PA Lic #AU005609
An independently owned and operated broker member of BRER Affiliates Inc. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation of Prudential.
including New York, London, Singapore and other primary global business centers. It will also invest in the growth of the corporate solutions and capital markets offering, expanding asset/property management, project/facilities management and valuation services worldwide. C-III is a leading commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management. The transaction will help create a leading fully integrated commercial property services company that will operate in markets around the world. C-III is led by CEO Andrew Farkas, who founded and was chairman and CEO of Insignia Financial Group, Inc. Headquartered in Irving, TX, C-II has offices in New York City, Greenville, SC, McLean, VA, Chicago, IL, Dallas, TX and Nashville, TN. ■
Regal Bank participates in fundraiser
Back row,shown from left: Christina Slater, VP, regional manager; Daniel Tower, EVP, CFO; Andria Sztojka, customer service rep; Fernanda Monteiro, head teller; Monte Ehrenkranz, VP, business development LIVINGSTON, NJ — Members of the Livingston community and Regal Bank recently participated in the nationwide fund raising initiative “Cycle for Survival,” led by the Memorial SloanKettering Cancer Center. As part of this indoor, team cycling event that helps fund research, students from four Livingston elementary schools used their ingenuity to raise $4,000, while Livingston-based Regal Bank contributed $1,000 to the cause. ■
Mid Atlantic Real Estate Journal — February 24 - March 15, 2012 — 5
www.marejournal.com
Auctioneers Directory NEW JERSEY
4 Bank Owned Commercial Properties – Prime Retail Sites! OFFERED INDIVIDUALLY AL30712A
Richard G. Warner, President
NJ & PA Licensed Real Estate Broker Warner Real Estate & Auction Co., Inc. 109 East Grant Street, Suite B Woodstown, NJ 08098 Ph ( )
MARYLAND
Montgomeryville, PA
AL30712B
Langhorne, PA
• 753 Bethlehem Pike • 34,920± sf on 3.83± Acres
• 2635 East Lincoln Highway • 25,283± sf on 2.81± Acres
AL30712C
AL30712D
Woodbury, NJ
• 1420 Almonesson Road • 25,320± sf on 2.17± Acres
Wilmington, DE
• 4130 Concord Pike • 33,315± sf on 2.95± Acres
P U B L I C R E A L E S TAT E AU C T I O N
COMMERCIAL
March 7 at 1pm ET 410-426-2622
www.AuctionBroker s.net
Tranzon Alderfer, AY-000115-L Len Walter, Auctioneer, NJ Broker License #9913359 Broker Participation Offered Sale Subject to Terms & Conditions and Sale Prior to Auction
TRANZON.COM
800-577-8845
6 — February 24 - March 15, 2012 — Mid
Atlantic Real Estate Journal
www.marejournal.com
MID ATLANTIC REAL ESTATE JOURNAL “For The Commercial Broker” to Edison, NJ on Feb. 28
The Comm’l. RE School of NJ brings “Cost Segregation”
E $5,850,000
$50,000,000
$19,990,000
$10,000,000
Eastern PA Refinance Multifamily 98 Units
Newark, NJ Centre Market Bldg. Office 380,000 S/F
Charleston, WV Chase Tower Class A Office 280,761 S/F
Ridgefield, NJ Shopping Center Retail 132,400 S/F
180 Sylvan Avenue Englewood Cliffs, NJ 07632 | P 201-947-2300 | F 201-947-2323 | Deerwoodcap.com
DISON, N.J. (Feb. 13, 2012) — TriState REALTORS Commercial Alliance announced that The Commercial Real Estate School of New Jersey will host its first course offering on Tuesday, Feb. 28 at the New Jersey Convention and Exposition Center (NJCEC), located at 97 Sunfield Ave. Cost Segregation For The Commercial Broker will be led by instructor Jerry Kootman, CPA, of Cost Recovery Solutions, LLC, and will provide attendees with a comprehensive tutorial on how to use cost segregation analysis to help
create more value for their client base. Enrollment for the threehour NJ Mandatory Continuing Education (MCE) elective course — a $75 value — is free for TriState members and $25 for all other members of the
Whitesell Construction promotes Ireland to vice president, leasing DELRAN, NJ – Peggy Ireland has been promoted to vice president, leasing at Whitesell Construction Co., Inc., southern New Jersey’s largest privately owned real estate development firm. Ireland, previ-
973.635.6800 info@cronheimmortgage.com
Correspondent and Servicing Agent for Institutional Investors $1.9 Billion servicing portfolio and growing New Jersey's oldest & largest privately owned Real Estate Banker Feel right at home with a banker who services your loan rather than a firm who originates and ships the servicing 1,000 miles away
commercial real estate community. Registration will begin at 8:30 a.m. and will coincide with a breakfast sponsored and hosted by Summit Associates. The course will be held from 9 a.m. to 12 p.m. Space is limited to 70 attendees. ■
WANTED
Commercial Real Estate Loans 10 to 25-year Terms Available
$5M & UP Best Pricing and In-House Servicing available for Long-term, Permanent Loans on Stabilized Properties
Full-Leverage Financing (Down to 1.05x DSCR, or I/O or a 35-Year amortization) for multifamily and other select assets
ously served as the company’s senior leasing manager for ten years and has been active in southern New JerPeggy Ireland sey commercial real estate for seventeen years. ■
NAI Mertz’s Licht & Lashner lease 16,950 s/f MONTGOMERY COUNTY, PA — NAI Mertz announced the lease transaction recently completed by Adam Lashner, vice president, between TRC Electronics Inc. and Nappen & Associates. TRC Electronics will occupy 16,950 s/f of industrial space located at 101-B Domorah Dr., at Montgomeryville Industrial Center. This 33,900 s/f building is a modern, one-story industrial facility that features 3,085 s/f of office space, 20’ clear ceiling height, 4 tailgates and 1 drive-in door. The announcement of the new TRC headquarters comes on the eve of TRC’s 30th Anniversary as a leading provider of power supply solutions. This move provides a progressive workspace that better suits TRC’s demanding facility requirements. It is TRC’s critical mission to be second to none and provide the greatest service and power supply solutions to their business partners. TRC Electronics has supported over 26,000 businesses and carries over 10,000 power solutions from the world’s leading manufacturers of power supply technology. “TRC Electronics is a well established company with a confident outlook. Montgomeryville is an ideal fit, located in the most business-friendly state in the Northeast. The move marks an exciting new era for the company,” said company president, Stephen Lagomarsino. ■
OWNERS, DEVELOPERS & MANAGERS Mid Atlantic Real Estate Journal — February 24 - March 15, 2012— 7
www.marejournal.com
Holland handles sale of four properties with 430 units Offered at four levels of financial investment
Kislak completes $36.7m sale of Bethlehem, PA portfolio
B
ETHLEHEM, PA — The Kislak Company, Inc., the dominant investment real estate sales firm in the tri-state region, announced the $36.7 million sale of a four-property multi- Robert Holland family portfolio with a total of 430 units in Bethlehem, Pennsylvania. The sale included The Meadows at Lehigh with 176 units, The Hills at Lehigh with 156 units, Waters Edge with 80 units, and Riverwalk Townhomes with 18 townhomes. President and co-managing director Robert Holland represented both parties, longtime Kislak clients, in the transaction. “Kislak had previously sold these properties six years ago,” said Holland. “At the time, the properties were in need of a complete turnaround. The seller subsequently completed many improvements including renovating over 70% of the units, and raised the occupancies significantly. The properties are now in excel-
The Hills at Lehigh lent condition with stable tenancies. The sale provided an opportunity for the purchaser to acquire strong properties in an expanding market while increasing its presence in the Lehigh Valley.” The Lehigh Valley is the fastest growing and third most populous region in Pennsylvania, and the Interstate 78 corridor connecting New Jersey and Pennsylvania is benefitting from population growth and several major developments. It is a one-hour drive from New York City. The properties are located in suburban neighborhoods in high-quality school districts, and the submarket has solid
employment. The new Sands Casino and Resort, Lehigh University and many other major employers are nearby. As part of the transaction, the purchaser assumed a $28 million Freddie Mac loan handled by Beech Street Capital. The seller was represented by Alan Hammer, Esq. of Brach Eichler, LLC of Roseland, NJ. The purchaser was represented by Robert Schachter, Esq. of Greenbaum, Rowe, Smith & Davis LLP of Woodbridge, NJ. At the time of closing, the properties were approximately 96% occupied. The purchaser plans to complete renovations to the properties. ■
Yardi signs on as an IREM Industry Partner CHICAGO, IL — The Institute of Real Estate Management (IREM) announced that Yardi Systems has become a 2012 IREM “Industry Partner.” The Industry Partner program helps providers of products and services to the real estate management industry enhance their personal connections to IREM Members on a cost-effective basis. Recognizing that these providers have much useful information to share, it calls for coordinating knowledge exchange through IREM print, electronic and face-to-face communications in ways that benefit both the providers and the IREM membership. Yardi Systems has been committed to the design, development and support of real estate investment management and property management software for nearly 30 years. With its Yardi Multifamily Suite, Yardi Commercial Suite and Yardi Investment Suite, the Yardi Voyager system is the most comprehensive single real estate management platform on the market today. Yardi serves clients around the world from offices in Asia, Australia, Europe and North America. The IREM Industry Partner Program is offered at four levels of financial investment
– chairman, president, director, and executive – and can be tailored to meet the specific needs of each partner. Benefits include sharing of industry information, advertising (print and electronic), sponsorships and exhibiting at national events, use of membership lists, and access to top IREM leaders and colleagues. Industry Partners thus far for 2012 are Yardi Systems (chairman level); Union Bank and AppFolio, Inc. (director level); and Circumspex and RealPage (executive level) The Institute of Real Estate Management (IREM) is an international community of real estate managers across all property types dedicated to ethical business practices and maximizing the value of investment real estate. An affiliate of the National Association of REALTORS, IREM has been a trusted source for knowledge, advocacy and networking for the real estate management community for more than 77 years. IREM is the only professional real estate management association serving both the multifamily and commercial real estate sectors and has 80 U.S. chapters, 14 international chapters, and several other partnerships around the globe. ■
The board of the Lakewood Industrial Commission (LIC) elected its 2012 officers at the annual reorganization meeting of the LIC. Robert Kirschner, owner of Robert Kirschner Real Estate, Lakewood, was elected chairman. Other officers are Shlomo Katz, vice chair; and Justin Flancbaum, secretary. Both Katz and Flancbaum specialize in commercial and residential real estate development. The rest of the 2012 board is made up of Commissioners Gregory Stafford-Smith, owner of AG&G sprinkler system services; Neil Brooks, owner of Neil Brooks Plumbing, Heating and Cooling; and
newly elected commissioners Sam Rabinowitz, real estate developer, and Edwin Schuster, owner of E.J. Schuster’s Office Supplies and Furniture. Members of the Lakewood Industrial Commission are appointed for five-year terms by the Lakewood Township Committee. In other business, Steven Reinman was confirmed as executive director of the LIC and Anita Doyle was confirmed as secretary-designee. Doyle also serves as deputy coordinator of the LDC (Lakewood Development Corporation) and executive assistant of Lakewood Township and the Lakewood Airport. ■
Rizzolo of Marcus & Millichap coordinates sale Officers chosen at Lakewood of 37 unit apartment building totaling $2.725m Industrial commission meeting BLOOMFIELD, NJ — Marcus & Millichap Real Estate Investment Services announced the sale of a 37-unit apartments property, according to Michael Fasano, vice president/regional manager of the firm’s New Jersey office. The asset commanded a sales price of $2.725 million. Christopher Rizzolo, an investment specialist in Marcus
& Millichap’s New Jersey office coordinated the sale between the seller, a local management group, and the purchaser, a 1031 exchange buyer from Los Angeles. The subject property is located at 355 Belleville Ave. It consists of thirty residential apartment units and seven ground floor retail stores. “The completion of this
transaction is yet another sign that quality, stable assets in strong Northern NJ locations command attention from the investor pool” said Rizzolo. The buyer was counseled by local real estate attorney Jonathan Mehl, based in Rutherford. Joshua Lipsey of Marcus & Millichap Capital Corporation arranged the financing on behalf of the purchaser. ■
HFF closes sale of class A Central NJ multi-housing community PLAINSBORO, NJ — HFF closed the sale of Ravens Crest, a 704-unit, class A multi-housing community. HFF marketed the asset on behalf of the seller, Equity Residential. The purchaser is an affiliate of Heitman LLC.
Ravens Crest is located at 3217 Ravenscrest Dr. close to Interstate 95/The NJ Tpke. and Princeton in central NJ, equidistant to Philadelphia and NYC. The property has one- and two-bedroom units and features a swimming pool
and tennis court. Occupancy is more than 95 percent. The HFF investment sales team representing the seller was led by senior managing directors Jose Cruz and Andrew Scandalios, and directors Kevin O’Hearn and Jeffrey Julien. ■
8 — February 24 - March 15, 2012 — Mid
Atlantic Real Estate Journal
www.marejournal.com
OWNERS, DEVELOPERS & MANAGERS Including $5 million in building renovations Eastern PA’s Award Winning Construction Company Construction Specialists: New and Renovations ■ ■ ■ ■ ■
Office Building Flex Buildings Manufacturing & Industrial Medical & Health Care Facilities Resort & Hospitality
Integrity is the Cornerstone of Our Business ■ ■ ■ ■
Honest & Accurate Cost Estimates Construction Quality Collaborative Process Fairness with Owners, Designers and Trade Contractors
Call Bud Hackett at 610 366 1709 x 242 www.ohainc.com
Promote your company, projects and expertise in MAREJ’s annual
Building Exterior/ POA
Spotlight March 30, 2012
Deadline: March 16th Contact Joe Christman 781-871-5298 / 800-584-1062 x 202 jchristman@marejournal.com
Diversified Capital adds new tenant amenities
N
EWARK, NJ — Diversified Capital has added a broad suite of new tenant amenities being implemented at 24 Commerce St., the former Federal Trust Bank building in downtown Newark. These new amenities, along with the $5 million building renovations, are part of the company’s overall investment in the historic office structure, which rises 18 stories and encompasses a total of 180,000 s/f. The landmark building will now provide enhanced conveniences to its roster of professional and corporate tenants. The refurbished Art Deco lobby will be entirely ADAaccessible, with 24/7 access, a manned guest reception and a new, state-of-the-art electronic directory. A shared conference suite will offer two multi-purpose meeting rooms, each accommodating up to 20 people, with video conferencing capabilities and a pantry
As part of the renovations, the refurbished Art Deco lobby (pictured here) will be entirely ADA-accessible, with 24/7 access, a manned guest reception and a new, stateof-the-art electronic directory. equipped to handle catering. A new fitness center will contain a well-designed gym, as well as male and female locker rooms with showers. “As long-term members of the Newark business community, we are investing in 24 Commerce Street in order to make it the city’s premier
professional address,” said Joseph Rosenbaum, president of Diversified Capital. “In this challenging economy, many real estate companies are floundering, but our tenants can be confident in our stability and strength, and our long-term commitment to this world-class building.” The exterior of 24 Commerce Street has undergone major improvements, with extensive re-facing and impressive new signage restoring the building to its earlier grandeur. Located one block from Newark Penn Station and the PATH, 24 Commerce Street is also convenient to NJPAC, the Prudential Center and Gateway Center, as well as to shops, restaurants, hotels and parking facilities. With panoramic views of the Newark skyline, the building is only 20 minutes from New York City and four miles from Newark Liberty International Airport. ■
The National Council for Interior Design Qualifications awards Hunterdon Facility Planners’ Shelly with CID certification RARITAN, NJ — The state of New Jersey in conjunction with The National Council for Interior Design Qualifications (NCIDQ) has awarded their prestigious Certified Interior Designer (CID) certification to Caroline Caroline Shelly Shelly, director of Hunterdon Facility Planners, LLC. This acknowledgement distinguishes Shelly’s highest degree of competence and experience to create interior office and facil-
ity spaces. NCIDQ certification was established to provide protection to the general public by setting standards of competence in the practice of interior design. To gain certification a designer must be knowledgeable and competent in areas such as ethics, building codes, contract documentation, accessibility issues and design development to name a few. Shelly also holds certifications from the US Green Building Council, Leadership in Energy and Environmental Design, WEBENC and currently serves on the board for
the New Jersey MORE Chapter of International Facility Managers Association. “Our CID certification is a formal acknowledgment of Hunterdon Facility Planners’ commitment to design and execute safe, healthy productive work spaces for our clients” said Shelly. Hunterdon Facility Planners has served the northeast region for more than 25 years offering corporate clients a wide range of facility planning disciplines with expertise in managing projects from the technical and design aspects to the licensure and permits. ■
Mid Atlantic Real Estate Journal — February 24 - March 15, 2012 — 9
www.marejournal.com
OWNERS, DEVELOPERS & MANAGERS
Residential • Commercial • Industrial
COOPER ROOFING INC. We Service New Jersey, Pennsylvania, Maryland and Delaware
Specializing In Commercial and Industrial Roofing
Low, Low Prices
30 Years of Experience
We Not Only Install New Roofs, We Repair Also!
www.cooperroofing.com 970 River Rd. • Croydon, PA 19021
24 Hour Service Call 800-945-2833
10 — February 24 - March 15, 2012 — Owners, Developers & Managers — Mid
Atlantic Real Estate Journal
www.marejournal.com
Associated Builders and Contractors www.abc.org ABC Delaware Chapter
ABC Pennsylvania Chapter
The 2012 ABC Delaware Board members were sworn-in during the January dinner meeting at the Christiana Hilton, with John Gooden of M. Davis taking the helm as chairman. During his speech, Gooden outlined his agenda for the year, and encouraged all members to become more involved in their trade organization.
By Mark McMahon, Chairman, ABC Eastern Pennsylvania Chapter Chairman
ABC Eastern Pennsylvania Chapter Turns 50 in ‘12 It’s an understatement to say that a lot has changed in the last 50 years. Since 1962 the following things have become an expected part of our culture: personal computers, GPS, digital music, electronic ignitions, ATMs, fiber optics, PV solar energy and many more acronyms than I can list. The one thing that hasn’t changed in the last 50 years is Associated Builders and Contractors Eastern Pennsylvania Chapter’s (ABC) commitment to protecting contractors’ rights to conduct business without intimidation or retaliation because of labor affiliation. In 1962, a small group of electrical contractors was harassed for trying to bid on public work in the Philadelphia area. Harassment wasn’t acceptable then and it’s not acceptable in 2012. ABC provides contractors the support and resources they need to protect their businesses, their employees and their customers from obstacles such as this.
ABC National Region 5 Vice Chair Pamela Volm (left) presides over the Oath of Office during the Board Induction ceremony January 12. “It has been a tough time to be in construction for a long time. The economy is ugly, capital budgets are shrinking and the regulatory environment is brutal,” said Gooden. “It’s been hard out there for so long that some people have given up. We are not giving up. ABC needs to lead the charge in getting its members back to work. Our members need to be working, growing and building a backlog.” During his speech, Gooden shared how is involvement in ABC came to be and what it means to be an active member of ABC Delaware. ABC Delaware 2012 Chairman John Gooden “For a long time, I was just a body that could go to ABC meetings when needed. My real involvement with ABC started through the vo-tech schools,” said Gooden. “M Davis has been a big supporter of our local vo-techs for many years and I got active in working with some of their programs in the mid 90’s. My involvement in the vo-tech schools led to me joining the Careers in Construction committee at ABC. I’m still active to this day with the schools and it is one of the most rewarding parts of my job. Our workforce is made up of numerous success stories from the vo-tech system.” Gooden’s goals for 2012 include business development by targeting users so ABC members get the first call about upcoming jobs; helping students and their parents realize that work in the construction industry is viable and you can have a construction career; becoming politically active during this extremely important election year; and retaining current members and recruiting new members to keep the organization strong and lively. “Last year, we had the best attended Legislative Reception in our history and we had a record number of legislators at our awards dinner in November,” said Gooden. “We are going to build on this momentum by getting our members to be at their legislator’s events, meetings and active with their campaigns. The people who are running for office need to know who we are and that we are there to support them. Our legislators will know that we are ABC and that they can count on us. Please encourage your friends and employees to get engaged in the political system as well. Time spent supporting our candidates is critical but equally important is coming with a check in hand. We all need to budget now both personally and professionally to be able to write those checks. “I’d like to close with a quote from Albert Einstein,” said Gooden.” ‘…When a group of individuals becomes a ‘we’, a harmonious whole, they have reached as high as humans can reach’. ABC is that we and we can do anything that we put our minds to.”
UPCOMING ABC DELAWARE EVENTS March 1
Networking Night at Cavaliers CC, Newark
March 23
Sporting Clay Shoot, Greenwood
March 29
ABC Trade Show, Clarion Hotel, New Castle
April 25
Legislative Reception, Dover
May 3
Safety & Student Awards Dinner, Newark
It is an honor to lead this chapter of ABC as we celebrate our golden anniversary. We are a strong, active chapter with more than 500 members and offices in East Norriton and Allentown as well as a state-of-the-art training center in Kulpsville. Our members are proud to have constructed churches, hospitals, offices, roadways, entertainment centers, retail outlets, schools and much more which have enhanced the American way of life. This current economy is challenging our nation and more specifically our industry. However ABC members, as has been our standard, remain committed to quality, safety, value and training. If you believe in our mission, I invite you to one of our upcoming networking or educational events to learn more about ABC and its benefits. Please contact Jeff Zeh at 610-279-6666 or visit abceastpa.org for more information.
UPCOMING EVENTS Blueprint Reading 10 WEEK CLASS BEGINNING MARCH 7 430 W. Germantown Pike East Norriton, PA 19403 Women in Construction: Presenting with Pizzazz 8 A.M. MARCH 9 430 W. Germantown Pike East Norriton, PA 19403 Transitioning a Journeyman to a Crew Leader 7 A.M. MARCH 16 1500 Gehman Road Harleysville, PA 19438 Networking Event 5 P.M. MARCH 21 Barnaby’s of America 15 S. High St. West Chester, PA 50th Anniversary Gala 5 P.M., APRIL 18 Radisson Valley Forge 1160 First Avenue King of Prussia , PA 19406
Mid Atlantic Real Estate Journal — Owners, Developers & Managers — February 24 - March 15, 2012 — 11
www.marejournal.com
ASSOCIATED BUILDERS AND CONTRACTORS Construction Industry Organization
7 out of 10 construction projects are standing on something stronger than concrete or steel. They’re standing on a concept called merit construction. This means both merit and union craftspeople work side-by-side. Contractors are chosen on merit, those who offer the best skills get the jobs. Being open to new ideas like multi-skills work teams, new technology and advanced construction techniques, merit contractors are able to construct high-quality buildings that are highly cost-efficient. Merit contractors bring highly skilled jobs with competitive wages to our community. Today, 4 out of 5 people in construction are employed by merit contractors. If you are planning a construction project, find out more about merit contractors. We don’t just construct better buildings. We build a stronger economy and a better quality of life for this community.
Construction Management
Construction Manager and General Contractor
• Commercial • Retail • Educational • Historical Clients Dalton Hall • Bryn Mawr College Bryn Mawr, PA Architect: MGA Partners
7909 Flourtown Avenue Wyndmoor, PA 19038
MERIT CONTRACTORS. BUILDING A BETTER LIFE. Ed Capodanno ABC Delaware 302-328-1111 ecapodanno@abcdelaware.com www.abcdelaware.com
Phone: (215) 836-1213
Jeff Zeh ABC Eastern Pennsylvania Chapter 610-279-6666 gzeh@abceastpa.org www.abceastpa.org
Attention ABC Members!!!
• Institutional
Fax: (215) 233-9457
www.delranbuilders.com
General Contracting
If you would like to submit articles or news to appear in the Mid Atlantic Real Estate Journal, please contact:
Linda Christman, Publisher 800-584-1062 x 203 or email Linda at lchristman@marejournal.com
Bensalem High School Gymnasium Addition, Bensalem, PA
I-95 Welcome Center, Lower Chichester Township, PA
West Reading Elementary School, West Reading, PA
First Place Merit Award of Excellence for Bensalem High School - Gymnasium Addition, Bensalem, PA, I-95 Welcome Center, Lower Chichester Township, PA and West Reading Elementary School, West Reading, PA
548 Steel Way, P.O. Box 7066 Lancaster, PA 17604-7066 (717) 299-2500 www.wohlsen.com
12 — February 24 - March 15, 2012 — Owners, Developers & Managers — Mid
WWW.IREM.ORG
Atlantic Real Estate Journal
www.marejournal.com
Institute of Real Estate Management
2012 OFFICERS NEW JERSEY CHAPTER NO.1 PRESIDENT LAWRENCE N. SAUER, CPM TAYLOR MANAGEMENT CO., AMO VICE PRESIDENT MICHAEL FRIED, CPM BOSTON PROPERTIES TREASURER JONATHAN HOFF, CPM PRISM PROPERTY SERVICES, LLC, AMO SECRETARY MARK PHILLIPS, CPM PHILLIPS ASSET MANAGEMENT CO., INC.
DELAWARE VALLEY CHAPTER NO. 3 PRESIDENT MICHAEL J. CARR, CPM WELLS FARGO WEALTH MANAGEMENT PRESIDENT-ELECT INGO S. KRAUS, CPM CITIZENS BANK VICE PRESIDENT JERRY NEILL, CPM CB RICHARD ELLIS CO., AMO VICE PRESIDENT ANNE-MARIE NIKLAUS, CPM MADISON APARTMENT GROUP VICE PRESIDENT JODY DIMPSEY, CPM JLD MANAGEMENT GROUP VICE PRESIDENT STEPHANIE BURG-BROWN, CPM BSA MANAGEMENT CORP., LLC
CONNECT WITH IREM® The only professional real estate management association serving both the multi-family and commercial real estate sectors. CERTIFIED PROPERTY MANAGER® (CPM®). Individual real estate and asset managers working with large portfolios of all property types – residential, commercial, retail and industrial. ACCREDITED RESIDENTIAL MANAGER® (ARM®). Managers of residential portfolios, including conventional apartments, federally assisted housing, public housing, condominiums, university housing, homeowners’ associations and manufactured home communities. ACCREDITED COMMERCIAL MANAGER (ACoM). Commercial site managers of office building, retail, industrial and other commercial properties with a minimum portfolio requirement of at least 20,000 s/f ACCREDITED MANAGEMENT ORGANIZATION® (AMO®) Excellence among real estate management firms with a CPM member in the executive supervisory position.
For more information on IREM designation and accreditation programs or to join a local chapter contact: IREM New Jersey Chapter No. 1 Serving Central & Northern New Jersey (856) 303-0190 or visit www.irem1.org.
SECRETARY/TREASURER RICHARD SKOCZYLAS, CPM AIMCO
SOUTHERN NEW JERSEY CHAPTER NO. 101 PRESIDENT SANDRA E. CIPOLLONE, CPM INTERSTATE REALTY MANAGEMENT CO., AMO VICE PRESIDENT PATRICIA BALDT, CPM CANDIDATE WESTGATE MANAGEMENT CO., INC. VICE PRESIDENT MARIA AVERY, CPM CANDIDATE MANHATTAN MANAGEMENT CO. SECRETARY/TREASURER DIANE WERSLER, CPM CANDIDATE INTERSTATE REALTY MANAGEMENT CO., AMO
IREM Delaware Valley Chapter No. 3 Serving Pennsylvania & Delaware. (856) 786-9260 or visit www.irem3.org
IREM Southern New Jersey Chapter No. 101 Serving all Southern New Jersey (856) 829-8939 or visit www.irem101.org
Mid Atlantic Real Estate Journal — Owners, Developers & Managers — February 24 - March 15, 2012 — 13
www.marejournal.com
ÊV > i } }ÊiV VÊÌ iÃÊ iÊÌ `>Þ]Ê Ü Õ `ÊÞ ÕÊÌÀÕÃÌÊÞ ÕÀÊÀi> ÊiÃÌ>ÌiÊÊ ÛiÃÌ i ÌÃÊÌ Ê ÕÃÌÊ> Þ i¶ /ÀÕÃÌÊ> Ê>VVÀi` Ìi`Ê > >}i i ÌÊV «> ÞÊÊ Ì Ê >Ý âiÊÌ iÊÀiÌÕÀ Ê ÊÞ ÕÀÊ ÛiÃÌ i Ìð *>ÀÌ iÀÊÜ Ì Ê> Ê
, / Ê
/Ê", < / " ÁÊ "Á®°
Ê "ÁÊ vviÀÃ\ Ê
UÊ1 «>À> i i`ÊiÌ V> ÊÃÌ> `>À`ÃÊ
Ê
UÊ `i«Ì Ê Ü i`}iÊ> `Ê Ã } ÌÊ Ê V> Ê >À iÌÃ
Ê Ê
UÊ6>ÃÌÊ > >}i i ÌÊiÝ«iÀÌ ÃiÊ> `ÊÌ iÊ«À Ûi Ê i>`iÀà «ÊÊ ÊÊ LÞÊ>Ê ,/ Ê*,"* ,/9Ê ,ÁÊ * Á®Ê
Ê Ê
UÊ i` V>Ì ÊÌ ÊÀi>V }ÊÞ ÕÀÊ ÛiÃÌ i ÌÊ} > ÃÊ ÊÊ ÊÊ V > i } }Ê >À iÌÊV ` Ì Ã
/ Êw `Ê> Ê "ÁÊ ÊÞ ÕÀÊ>Ài>]ÊÛ Ã ÌÊÜÜÜ° Ài ° À}É "°ÊÊ "À]ÊV Ì>VÌÊÞ ÕÀÊ V> ÊV >«ÌiÀ\ , Ê iÜÊ iÀÃiÞÊ
>«ÌiÀÊ °£ nxÈ®ÊÎäÎ ä£ ä Ài £JV V>ÃÌ° iÌ ÜÜÜ° Ài £° À}
, Ê i >Ü>ÀiÊ6> iÞ
>«ÌiÀÊ °ÊÎ nxÈ®ÊÇnÈ ÓÈä >` J Ài ΰ À} ÜÜÜ° Ài ΰ À}Ê
, Ê- ÕÌ iÀ Ê iÜÊ iÀÃiÞ
>«ÌiÀÊ °Ê£ä£ nxÈ®ÊnÓ n Î >` J Ài £ä£° À} ÜÜÜ° Ài £ä£° À}
14 — February 24 - March 15, 2012 — Mid
Atlantic Real Estate Journal
Delaware Maryland Pennsylvania
www.marejournal.com
OWNERS, DEVELOPERS & MANAGERS General Contractor/Construction Manager
Delmarpa Janitorial Services, LLC
Delran Builders services the tri-state region
D 10% off the 3rd Month of Janitorial and Floor Maintenance Contracts for a Year or more.
302-943-8529 www.DelmarpaJanitorialServices.com
elran Builders is a General Contractor/Construction Manager located in Wyndmoor, PA who services the tri-state region for all construction needs. Delran offers a full range of services from pre-project planning, deign-build capabilities, value engineering, budget estimating and much more. Delran’s core values include safety, quality, integrity, team work and customer service. We pride ourselves on providing each client with the end product they desire at or below
Arcadia University budget. This business strategy has proven productive as over 75% of our business comes from repeat customers. Once a client uses our services they generally continue to call on us for future work. Our management team takes a very active role in all projects so each customer gets to know who we are, what we stand for and how we can benefit their needs. Delran prides itself on being able to provide any client with the service they need. We have our forty field personnel, comprised of superintendents, carpenters and laborers. This workforce provides us with the flexibility to hang a single door for someone or to build their $20 million dollar addition / new building. Our field personnel are all trained in OSHA safety and first aid. Additionally, our workforce is conditioned to work in occupied spaces. We pride ourselves on being able to complete work in any area with little or no disruption to the daily operations of the facility in which this work is being completed. We pre-plan all scope items to ensure as little disruption as possible, and what disruption can not be avoided is carefully scheduled to accommodate the best time of completion for the owner. ■
Larken Associates acquires apartment portfolio B E T H L E H E M , PA , — Larken Associates purchased four rental properties, totaling 430 apartment units from The Solomon Organization. “The residential market has changed substantially in the last [three] years,” said Larken’s president and COO, David Gardner. ■
SHOPPING CENTERS Mid Atlantic Real Estate Journal — Shopping Centers — February 24 - March 15, 2012 — 15
www.marejournal.com
Pollack & Marzullo of CBRE rep seller in 106,842 s/f grocery anchored center
Balliet of KW-The James Balliet Commercial Group reps buyer in $16,350,000 sale
A
LLENTOWN, PA — James Balliet, president of KW Commercial-The James Balliet Commercial Group, represented the buyer Shree Mata 4365, LLC of Allentown, Pennsylva- James Balliet nia in the transaction and Seth Pollack and Stephen Marzullo of CBRE repre-
sented the seller Dorneyville Shopping Center, LLC of Morristown, New Jersey. The contract sale price was $16,350,000. Dorneyville Shopping Center is a 106,842 s/f. grocery anchored neighStephen Marzullo borhood center located at 3227 Hamilton Boulevard. The property is adjacent to the famous 125
Stine & Rohrbaugh rep buyer, seller
year old Dorney Park and Wildwater Kingdom amusement park in South Whitehall Township. Dorneyville Shopping Center is anchored by Bottom Dollar Food with other notable tenants including: Tappen Japanese Steakhouse, The Chicken Lounge Restaurant, Bounce U, Total Eye Care, Body Elite Fitness, Leading Edge Karate, Subway, Gourmet Buffet and Grill, a newly signed Pizza Hut restaurant and more. ■
Dorneyville Shopping Center
Morris & Stewart arrange ten year non-recourse loan
CBC Bennett Williams Cronheim Mortgage Finances $4.2 m brokers $7.2m sale of SC Macy’s Furniture Gallery in NJ
2504 Eastern Blvd. YORK, PA — COLDWELL BANKER COMMERCIAL BENNETT WILLIAMS— has arranged the following sales and lease transactions: Sales: Kingston Square shopping center (66,200 s/f; 7.24 acres) at 2504 Eastern Blvd. located York. Kingston Square Assoc. LLC purchased the shopping center from Kingston Fixed Income L.P. for $7.2 million. Chad Stine & Brad Rohrbaugh of Bennett Williams Realty, Inc. represented both the buyer and the seller in the transaction. Free-standing Verizon Wireless NNN investment
(.6 acre; 3,200 s/f of retail space) at 5697 Shaffer Rd. located in Debois. Szene Realty LP purchased the property from WSR Holdings. Chad Stine and Brad Rohrbaugh of Bennett Williams represented the seller in the transaction. Leases: 1,600 s/f of retail space at Silver Spring Square at 6416 Carlisle Pike in Mechanicsburg. 2705 Ventures, LLC d/b/a Sweet Frog leased the space for five years from Silver Springs II, LP. Chad Stine and Brad Rohrbaugh of Bennett Williams represented the landlord in the transaction. ■
MAPLE SHADE, NJ — Cronheim Mortgage has arranged 10 year, non-recourse financing for the subject, a 72,625 s/f retail store located at 493 Route 38 West, in Maple Shade. Dev Morris and Andrew Stewart arranged the ten year fixed rate financing which amortizes over a 20 year schedule for the borrower, Heritage I Office Center, LLC . Maple Shade Square is located 3.7 miles east of Cherry Hill Mall and 1.4 miles west of Moorestown Mall. It is six miles east of Philadelphia. The subject is located approximately one-half mile west of the intersection of Route 38 and
Macy’s Furniture Gallery Route 73, a major retail and commercial corridor that runs north/south through southern New Jersey, and links directly
to Interstate 295 and the NJ Turnpike. The property was originally developed as a Hechinger’s hardware store. ■ 110 N. George Street, 4th floor York, PA 17401
ph: 717-843-5555 fax: 717-843-5550 www.bennettwilliams.com • Landlord Representation • Tenant Representation
• Investment Sale & Acquisition • Site Selection • New Construction Leasing & Development • Property & Portfolio Dispositions • Property Management
SERVING CENTRAL PENNSYLVANIA FOR OVER 50 YEARS
16 — February 24 - March 15, 2012 — Shopping Centers — Mid
Metropolitan Management Company, a division of Klein Enterprises, is pleased to be a member of the Dolben Company team, providing retail leasing services for The Village at Odenton Station.
Atlantic Real Estate Journal
www.marejournal.com
SHOPPING CENTERS Gross of LMS Commercial reps seller
NAI Commercial Partners, Inc. closes $349,000 sale of retail space
DELIVERING RETAIL & RESTAURANT SPACES JULY 2012 FROM 900 TO 9,000 SQUARE FEET RESERVE A STOREFRONT TODAY!
L
ANCASTER, PA — NAI Commercial Partners, Inc. of Lancaster announces the sale of 13,000 s/f of commercial retail space on .54 +/- acres located at 10 Eisenhower B o u l e v a r d Steve Clipman (pictured right) in Lancaster, for a price of $349,000. Steve Clipman of NAI Commercial Partners Inc. and Blake
FOR INFORMATION CONTACT:
Patricia Palumbo Director of Leasing & Marketing
(410) 902-0290
EMAIL:ppalumbo@mmc-mail.com Metropolitan Management Company 11299 Owings Mills Boulevard, Suite 200 Owings Mills, Maryland 21117
www.BaltimoreShoppingCenters.com
Gross of LMS Commercial Real Estate represented the seller Bernstein Family Irrevocable Trust and the buyer PEC Group, LLC. ■
Shopping Centers Real Estate Journal a section of the
Mid Atlantic Real Estate Journal
Segall Group leases 3,000 s/f at Queen Anne Belvedere in Baltimore, Maryland
Feature Your Project
BALTIMORE, MD — Segall Group represented Valstone Partners in completing two new retail leases at the Queen Anne Belvedere mixed use development at 1200-1224 North Charles Street. Cricket Wireless, a leading cellular service provider, leased 900 square feet. Cakewalk Gallery leased 2,100 square feet for an art gallery. Both will be great new additions to the project and to the Mount Vernon Neighborhood. An additional 1,350 square foot space remains available for lease. ■
~ Developments ~ ~ Construction ~ ~ Renovations ~ in 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
Section Publisher Elaine Fanning efanning@MAREJournal.com
Section Editor
Queen Anne Belvedere
Rachel Rugman editor@marejournal.com
EARTH ENGINEERING INCORPORATED
Geotechnical Engineers & Geologists 10B —
April
23 - May
PROJECT
13, 2010
AND
— Proj ect of
LEASING
the Mon
MANAGER
th — Mid
Atlantic Real
Estate Jour
Subsurface Investigations
nal
Of
SHOPPIN
G
MARE journal.com
CEN
MARE journal.com
ARC fering enhanced ho TERS PROJECT OF of FraProperties spitality services for THE MONTH the nklin In D Place c. announ visitors of Philadelph in Cen ce ia ter Cit s the plan nin y Phil adelp g hia Mid Atla
DESIGN
ARCHITEC
T
ntic Real
irectly across National from the Cons Center Bell at and the titution Libe Franklinthe base of the rty Brid phia’s Ben Old Cityge in Philadel stands neighbor Project Franklin hood Place. and redeis an adap The tive re-us St. the velopment e of ers Maxformer Pinc 401 Race mixed-us well Buil us Brothding. 150 roome Project This its desig hotel, includes a retail 50,000 and resta operationn, construct 65 resid uran s/f of ion, and A new . 200- spacential hom t space, featuring resid enti Franklin e park ing es and a one-and approximal towe r fully desigPlace has facil ity. will be two-bedroomately 55 ing stru ned with been caresurr ctures side in built on the th homes simultane in mind oundect. ThePhase II of 4 Street whil landmark ously serv ing as e will shar resid enti the Projentr City of al e Philadelyway into a ame the Fran nitie several of thetowe r phia the Proj s with the key men ts klin Plac . e roof top ect including rest of that Philnear by landcom plegard , seve ground mar ens ral for such adelphia pool, greearound an is famo ks pits, runn of Inde as the histo us n roofs in ing/walkin ric sites and a , fire Nationalpend ence roof catering top resta g tracks and the Constitut Mal l, the urant of the neighbor ion Cent the dyna facility over and City. er, steel build hood The look street of Phil mic views will stre mixed-us of Old ing adelphia of the ing Max well e Proj tower side where on the 5 th and City ARC the area ngthen tour . ect Buil has theonce stood. the candy stora additiona formed Properties, hospitalitby offering ism in adjacent land ding and The l stru 25 park Inc. ge entir enha years ctural Hote vertical comprisin the park was e nort of Phil y services nced ago capacity l The Projon the base ing and J. Ambrosi h ing spac will be developm ect will ment level has been and Mar by Robert for spiri hotel adel phia , to visitors St. The high block of 400 g the mate es and ent, further c room ly er level Race approxi- transitio separatedwhich usin t of sustainaembody the. acquisitio responsib Perel and tertainme s, resta inclu ding lin Place offer live/work60,000 s/f s of Fran n level urants, g mod views ble desig by a more thann and deve le for the The inclu space. of office or breathta k. need ed nt venues, ern meth – rang enThe n 200 prop lopment of designed sion of ods for an aggr Place’s park ing. and much erty Bell to ing from the king comp exis ting transitio a carefully buil ding Fran klin City Skyl the Phil Lib- pone rised of seve $2 billioegate value erties with five-st premium locat two adel in exce is men ral design n floor yield n. ■ ar ion and River. Theine to the Dela phia cons nts. The 5 th main comss of Philadel amenities and deve s t optio truct stree Proj travelersphia’s man also serve by a 150 all-s ect is anchware sits adja ed of conc t side is floor’s designs. The tran lopOwner/Dev y busi . eloper: ness on top of the uite Hotel ored ing on thcent to the rete, and column linesn does not sition The Fran .................. require steel struc steel build comp of the General existing built 3-sto 4 Stre klin Plac velo pme .................. Contractor: ture 3-story ry stee et. The exist - of theonent to alignnew vertical .................. well-kno nt cent ers e rede- side. The exist on the 5 th .................. conta l ing with Site exist buil Street ined an & Civil ..ARC hous ding thos wn Pinc ing featu ing .................. on Properties Engineer: us Brot the first e 36,000 s/f building will candy facto additiona once rooft re allows facility. Thise ............... .................. Structural floor. The of retai for addi hers ry befor l 9-story op view Dale Corpo version l on .................. Engineer: floors tional ration include second and the Brothersto the 3-sto e its con- City as well s overlooking .................. .......Bohler Design third a comb as stag the Architect: .................. Maxwell ry Pincus cantileve Engineering The ination .................. ... O’Do alternativred structuragered or of for redevelopmen Building Architect nnell & .................. the Hote . es. l desig of Recor t Naccarato .................. l to be plan calls will house The steel build n d: ......... Project built on .................. .... DAS with park ground ing Manager: Architects floor retai top .................. ing .................. homes Leasing l .. JKR resid on the and .................. Partners, Manager: SITE AND 2 nd and rd ential .................. LLC .................. 3 floors CIVIL E Leasing . FC Devel .................. NGINEER Consu opment ................. ltant..........
PROJE
CT
Journal —
Project
of the
Month — Apri
ARCHITEC
TS OF
Construction Inspection & Testing
l 23 - May
For the past 26 years, JKR Par tne its com rs has mainta mit ine continu ment of buildin d ing rela tionship g quality s design and res through ponsive ser RECORD
Retaining Wall Design
v
1128 WALN UT STREET PHILAD ELPHIA SUITE 215.928 200 PA 19107 .9331 JKRPAR TNERS .COM
Enterta inment Healthc are Hospita lity Mixed Use Residen tial Retail Senior Living
GENERAL
CONTRAC
Environmental Site Assessments and Remediation
TOR
TEAM
FC Devel .................. opment .................. BOHLER ............ Andi Pesac ov ARC PR ENGINEER IN OPER TIES tea G is proud to be a m for FR ANKLIN part of the PL AC Civil Eng E. inee
ring Landsc ape Arc Project hitectu Manage re Environ ment mental Survey Consult ing ing
Estate
Philade Bohl lphia PA erEn ginee I Chalfon Warren ring. ton VA t PA I Cen com I Southbo ter Vall rough ey PA MA I Alba I Warren ny NY NJ I Bow I Ronkon ie MD koma NY I Towson MD I Ste I Ft. Lau derdale rling VA FL I Tam pa FL
Clean Fill Testing
A full-s ervice construct ion mana contractin gement, g and general developm specificall ent/consu y focus lting firm, ed on mixed-us long-term e, multi -family care facilit facilities, ies, hotel education s and hosp al facilit itality ies and throughou corporate t the Midoffices Atlantic region.
housing,
Carbonate Site Assessments
Find out Contact what DALE can Greg Hal lquist do for you. at 215-690 -0171
for more information call Elaine Fanning efanning@marejournal.com
800-584-1062 x 212
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
Mid Atlantic Real Estate Journal — Shopping Centers — February 24 - March 15, 2012 — 17
www.marejournal.com
TURNING VISION INTO VALUE ACQUISITION
RENOVATION
DEVELOPMENT
206,000
CONNECTICUT Meriden Parkade - Meriden
226,000
MAINE Airport Mall - Bangor Capitol Shopping Center - Augusta JFK Plaza - Waterville Shaw's Plaza - North Windham Shaw's Plaza - Waterville Wells Plaza - Wells
232,500 200,000 174,000 124,000 119,000 133,000
MASSACHUSETTS Cushing Plaza - Cohasset Danvers Crossing - Danvers Foxborough Plaza - Foxborough Hannaford Bros. - Waltham Middleborough Crossing Middleborough Shaw's Plaza - Easton Shaw's Plaza - Hanover Shaw's Plaza - Plymouth Springfield Plaza - Springfield
103,000 57,000 178,000 512,000
NEW HAMPSHIRE Hood Commons - Derry Hooksett Village Shops - Hooksett
210,000 257,000
NEW YORK Colonie Plaza - Albany Columbia Plaza - Rensselaer Irondequoit Plaza - Rochester Lake Shore Plaza Lake Ronkonkoma Malone Plaza - Malone Saranac Lake Plaza - Saranac Lake St. Lawrence Plaza - Massena Troy Plaza - Troy Walden Village - Cheektowaga OHIO Boardman Plaza - Youngstown Fairlawn Town Centre - Fairlawn Knox Village Square Mount Vernon PENNSYLVANIA Berkshire Square - Wyomissing Carlisle Crossing - Carlisle, PA Columbia Mall - Bloomsburg Dauphin Plaza - Harrisburg Devon Village - Devon East End Centre - Wilkes-Barre Festival at Exton - Exton Franklin Center - Chambersburg Mayfair Shopping Center Philadelphia Plaza 15 - Lewisburg Shamokin Plaza - Shamokin Valmont Plaza - Hazleton West Side Mall - Edwardsville
Corporate Headquarters 940 Haverford Road Bryn Mawr, PA 19010 610-552-6000 wprealty.com
Acquisitions Joseph R. Staugaard, III, CFA jstaugaard@wprealty.com 610-552-6062
Leasing Charter Realty & Development Corp. 203-227-2922 chartweb.com
SF
ALABAMA Midway Plaza - Opelika
71,000 176,000 121,000 46,000 132,000
168,000 136,000 216,000 95,000 178,000 68,000 166,000 130,000 209,500
625,000 447,000 207,500
323,000 368,000 352,000 216,000 90,000 306,000 152,000 175,000 115,500 117,000 98,500 200,000 423,000
RHODE ISLAND Diamond Hill Plaza - Woonsocket Marketplace Center - Warwick
387,000 194,000
VIRGINIA Chesterfield Marketplace - Richmond
428,500
New Acquisition!
18 — February 24 - March 15, 2012 — Shopping Centers — Mid
RELY ON RETAIL The Power of Team Owner Representation Site Selection Investment Analysis Market Research
Larry O’Brien, CCIM - Ben Chiaro, CCIM John Birkeland - Greg Finkelstein
717.854.5357 www.rockrealestate.net
Atlantic Real Estate Journal
www.marejournal.com
SHOPPING CENTERS ERB represents the landlord, Spring Ridge LP
Rose Urban of Equity Retail Brokers leases 6,800 s/f restaurant YOMISSING, PA — Just leased by Rose Urban of Equity Retail Brokers, Seafood Shanty, LLC leased a 6,800 s/f building on a pad site at Broadcasting Square, located at 2713 North Meridian Boulevard in Wyomissing, Berks County, PA. The site was formerly occupied by Mason’s Restaurant. Equity Retail Brokers represented the landlord, Spring Ridge LP, in this transaction. The restaurant opened on February 7. Originally based in Bucks County, Seafood Shanty had outposts all along the East Coast and was famous for
W
Seafood Shanty logo their New England clam chowder, bouillabaisse, and a
seriously delicious Key Lime pie. ■
Calkain procures buyer for 7-11
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
GAINESVILLE, VA — Calkain Companies, has procured the sale of a two tenant building occupied by 7-11 and a local veterinary practice in Gainesville, VA. Jeff Bogart of Calkain Companies represented the seller in the transaction. “We have seen an increase in buyer interest for investment assets over the past nine months, both from outof-state and in-state investors, because of accessible credit and low inventories,” Bogart stated. “Since January 2010, credit income properties have become increasingly harder to find in the DC-MSA, thus, compressing cap rates as much as 175 basis points over the last two years. This particular asset was a two tenant NN lease building located in the Heritage Hunt Retail development in Gainesville, VA” Bogart added. The buyer was a local investor and the seller was Buchanan Partners. ■
Douglas Dev. leases a 3,600 s/f bistro WASHINGTON, DC — Douglas Development is pleased to welcome Sixth Engine, a firehouse inspired American bistro, as the newest addition to Washington, DC’s Mount Vernon Square neighborhood. The restaurant opened its doors Friday in the Douglas Development-owned historic Engine 6 firehouse at 438 Massachusetts Ave, NW. Sixth Engine leased the 3,600 s/f property from Douglas Development in March 2011. ■
SHOPPING CENTERS SPOTLIGHT
TOP RETAIL DEALS “2011” Mid Atlantic Real Estate Journal — Top Retail Deals 2011 — February 24, 2012 - March 15, 2012 — 19
www.marejournal.com
Featuring: CBC Bennett Williams ......................................................................................................................................................................................20 Katz Properties ..................................................................................................................................................................................................24 Kay Realty ...........................................................................................................................................................................................................22 KW Commercial - The James Balliet Commercial Group ........................................................................................................................ 22,25 Marcus & Millichap - Taylor Zang .................................................................................................................................................................21 Metro Commercial .............................................................................................................................................................................................23 Remco Realty ......................................................................................................................................................................................................25 RD Management ................................................................................................................................................................................................ 26-27 Silbert Realty & Management ........................................................................................................................................................................ 28 Taylor Long Properties ....................................................................................................................................................................................20 Top Retail Deals of “2011” Headlines ............................................................................................................................................................22-23
WP Realty, Inc.
Metro Commercial Real Estate, Inc.
WP REALTY, INC
METRO COMMERCIAL REAL ESTATE, INC.
940 Haverford Road, Bryn Mawr, PA 19010
161 Washington Street, Suite 375, Conshohocken, PA 19428
TOTAL SALES OR ACQUISITIONS: $119.5mm
TOTAL SALES OR ACQUISITIONS: 304
TOTAL SQUARE FOOTAGE LEASED OR SOLD:
TOTAL SQUARE FOOTAGE LEASED OR SOLD:
1,020,173 s/f
4,394,654 s/f
BRIEF OVERVIEW OF 2011: With improved tenant
BRIEF OVERVIEW OF 2011: We saw retailers beginning
fundamentals, and increases in both capital accessibility &
to return to executing their expansion plans, after the previ-
leasing volume, the U.S. Commercial Real Estate market
ous years were mostly spent by them focused on straighten-
saw signs of improvement in 2011, with sales totaling $291B, Bryan Weingarten
a 32% increase from 2010. Many investors finished 2011 seeking quality assets in traditionally strong MSAs. We are
a prime example of this, with our $86.5mm acquisition of the New England
Steve Gartner
ing out internal issues. In our representation of 65+ national and regional retailers, we witnessed a more vibrant expansion,
especially into established, mature trade areas. Through our National Ac-
Shaw’s Supermarket portfolio. This 8 property portfolio offered an enticing
counts division, we also saw other markets begin to thaw. There continued
mix of strong market fundamentals and value-add components.
to be very scarce new-construction projects, as most transactions were
SHORT STATEMENT ON 2012 OUTLOOK: In the Northeast and Mid-Atlantic regions, we anticipate that investors will continue to flock to
completed in existing or heavily re-imagined properties. SHORT STATEMENT ON 2012 OUTLOOK: So far, the year is off
high-quality assets, further fueling cap rate compression for core assets. to a strong start, catapulting off what we began in 2011 and even prior. While values for these core assets may be trending upward, we go into 2012 with a cautious optimism, fully aware that several global economic issues,
More and more vacancies are being absorbed by expanding retailers, and
including the Sovereign debt crisis in Europe and worldwide unemploy-
developers are even beginning to consider new construction again, if market
ment, will continue to affect the speed of recovery in the US. ■
rents can support it. ■
20 — February 24 - March 15, 2012 — Top Retail Deals 2011 —
Mid Atlantic Real Estate Journal
www.marejournal.com
TOP RETAIL DEALS “2011” CBC Bennett Williams Taylor Long Properties CBC BENNETT WILLIAMS REALTY INC. 110 North George St., York PA 17401 TOTAL SALES OR ACQUISITIONS: $137,500,000 TOTAL SQUARE FOOTAGE LEASED OR SOLD: Brad Rohrbaugh
Chad Stine
1,635,536 s/f
TAYLOR LONG PROPERTIES 4701 Cox Road, Suite 108, Glen Allen, VA 23060 TOTAL SALES OR ACQUISITIONS: $32,652,492 — 55 (53 leases & 2 sales) TOTAL SQUARE FOOTAGE LEASED OR SOLD: 264,085 s/f
BRIEF OVERVIEW OF 2011: While 2011 was still a
BRIEF OVERVIEW OF 2011: 2011 was an extremely
slower market than past years, due to the economy, we started
successful year for Taylor Long Properties, with a 40% in-
to see change towards the end of the year that indicates an
crease in leased and sold square footage, which represents
upward turn around in 2012. Phones were ringing and deals
31% more transactions than 2010. Our success, based on
were being signed, a welcomed change from the harsh eco-
Ellen Long
our expertise and professionalism, has allowed us to sign
nomic climate of the past few years. We saw expanded franchise growth
21 new listing agreements since the beginning of 2011, which represents
and an increased interest from investors to invest in new business oppor-
more than 3 million square feet of gross leasable area. Our team is highly
tunities. We also saw a growing interest on the part of shopping center
focused on our clients’ needs and objectives, which explains the confidence
owners to buy and sell properties and to expand their real estate holdings
that Landlords and Tenants place in us Properties.
portfolio. Overall, 2011 showed promising signs for 2012. SHORT STATEMENT ON 2012 OUTLOOK: We think that 2012 will be SHORT STATEMENT ON 2012 OUTLOOK: If the activity at the end
another record-breaking year for Taylor Long Properties. Sales and leasing
of 2011 is any indication, the commercial real estate market will likely
activity continue to grow steadily with both Landlords and Tenants having
rebound and 2012 will see prosperous growth. ■
optimistic attitudes about the retail business. ■
CBC BENNETT WILLIAMS Visit us in v
TAYLOR LONG PROPERTIES egas! t
Silver Spring Square Carlisle Pike & Lambs Gap Road Mechanicsburg, PA 17050
1,600-3,200 SF FOR LEASE
Coldwell Banker Commercial Bennett Williams 110 N. George Street-4th Floor York, PA 17701 717-843-555 www.bennettwilliams.com
Newberry Pointe Old Trail Road Newberrytown, PA 17319
1,500-6,500 SF FOR LEASE
Scan QR Codes With Your Smartphone!
www.marejournal.com
Mid Atlantic Real Estate Journal — Top Retail Deals 2011 — February 24 - March 15, 2012 — 21
TOP RETAIL DEALS “2011” Marcus & Millichap Taylor-Zang-Munley Group of Marcus & Millichap [Mark Taylor, Dean Zang, Christopher Munley, Derrick Dougherty and Peter Snell] 101 E. Elm Street, Suite 600 • Coshohocken, PA 19428 TOTAL SALES: $270,763,613 — 58 Transactions TOTAL SQUARE FOOTAGE LEASED, SOLD OR ACQUIRED: 2,000,000 s/f +/-
Mark Taylor
Dean Zang
Christopher Munley
Derrick Dougherty
Peter Snell
Overview of 2011: 2011 was a year that saw accelerated velocity in both single tenant net lease sales and in shopping center sales. Demand for single tenant properties reached prerecession levels as supply was constrained by a decreasing expansion by many retailers, led by the two top drug store chains, Walgreens and CVS/pharmacy. Demand was not only driven by the 1031 exchange market, but by investors fleeing non-real estate fixed debt instruments like bonds for the higher returns of the real estate world. Cap rates fell over the course of the year by 50-75 basis points due not only to demand, but the plentiful availability of debt at historically low interest rates. In addition, equity that had been on the sidelines during the recession came into the market looking for deals and returns rather continue to sit in accounts earning one to two percent. By the end of the year, cap rates on investment grade drug stores like CVS and Walgreens had dropped to a range of 6.25 to 6.75 percent. Investment grade bank pad properties with rent bumps during the base lease term in some cases were below 6.00 percent, as were corporate fast food properties. Convenience stores, when available, also commanded very good cap rates. 2012 Outlook: This trend has continued into the early stages of 2012 as demand heated up about two weeks into the new year after a brief holiday lull. It is an excellent time for owners of single tenant net lease properties to sell if that is a strategy that is timely for them. Of course, financing, being plentiful and cheap, is an alternative as non-recourse debt is again available for good properties with credit, after being very difficult to obtain over the last three years. Of course, market size and geography are still important to investors. The Northeast Corridor from Washington, D.C. to Boston is again the preferred territory for many investors, especially institutional ones. Cap rates there tend to be in the lower end of the range quoted above. Sunbelt locations favored earlier in the decade no longer command the level of interest they once did. That said, the Raleigh-Durham, Charleston, SC, and South Florida areas are still attractive to many investors. As always, California also commands among the lowest cap rates in the country. With the Federal Reserve keeping rates down and continued low returns in other investment vehicles, the Taylor-Zang-Munley Group at Marcus & Millichap predicts 2012 will be another strong year in the single tenant net lease market. As we are in the market daily, we know where cap rates are on an almost weekly basis. The multi-tenant shopping center market has also seen an increase in velocity, for some of the same reasons as single tenant, but for other factors. Demand has increased. We have worked through the decrease in demand for retail space and the loss of retailers such as Circuit City, Linens N Things, and Borders. Vacancy rates in the Northeast have begun to decrease and rents are stabilizing. Grocery anchored centers are most in demand as institutional investors seek the safety of “necessity retail.” This somewhat herd like mentality is allowing some private high net worth equity groups to find deals that institutions skip over, such as well located non-anchored retail strips, centers in secondary and tertiary markets at higher cap rates, and even power centers that are the trophy asset within a smaller market. In addition to these factors is the fact that more lender owned or controlled products are coming to market as pretend and extend properties are no longer being extended, and some have leased up to a degree since lender takeover of them, making them more viable in the market. In addition, we are seeing more centers come on the market from private owners who are selling with debt in place to assume on properties where 10 year debt was placed from 2003 to 2005, coming due in the next few years. These transactions typically take longer due to the assumption component. With new construction still virtually nonexistent, and demand strong, more deals with a debt in place will come on the market in 2012 and buyers will simply have to deal with the debt if they want to buy. The Taylor-Zang-Munley Group at Marcus & Millichap sees 2012 as a year of increasing velocity in the multi-tenant sector. However, cap rates will be more stable and compress less than in the single tenant market due to debt assumption issues, market size and geography, and the quality of the anchor tenants. Only trophy like grocery anchored centers in major markets will see a decrease in cap rates. ■
MARCUS & MILLICHAP
22 — February 24 - March 15, 2012 — Top Retail Deals 2011 —
Mid Atlantic Real Estate Journal
www.marejournal.com
TOP RETAIL DEALS “2011” Toms River • Whiting
Featured 2011 Top Retail Headlines January 28, 2011
PRIME RETAIL SPACE 600 SF - 6,000 SF AVAILABLE START UP BUSINESS PACKAGES
Marcus & Millichap sells $31.5 million, 445,907 s/f SC. Brad Nathanson of the NR Philadelphia and Kerber of NIOPG in Detroit negotiated the transaction Marcus & Millichap Taylor & Zang arrange three sales totaling $9.4 million, in addition Munley assists in$2.727+M sale of Bank of America brand office to ARC Properties Marcus & Millichap’s Philadelphia office sells two buildings totaling $3 million. Matthew Gorman, Tom Gorman and Michael Shover represented the sellers WP Realty acquires 115,411 s/f Mayfair Shopping Center in Philadelphia
February 25, 2011 Cushman & Wakefield’s Metropolitan Area Capital Markets Group arrange $48M sale The Goldstein Group brokers $2.775M sale of Entenmann’s Facility in Edison, NJ Taylor Long Properties signs 50,029 s/f lease in VA Equity Retail Brokers, Heckmann represents Pathmark/A&P in 32,000 s/f lease
March 25, 2011
TINTON FALLS, NJ
Cronheim Mortgage’s Stewart & Westhoff arrange $9 million acquisition financing Marcus & Millichap Dougherty, Taylor & Zang rep seller in $2.83M SC sale R.J. Brunelli & Company completes 69,400 s/f in series of leases, with the largest of the deals represented by Bill Lenaz for 40,000 s/F Whole Foods Market lease. Danielle Brunelli-Albrecht reps 18,200 s/f and Ron Deluca reps 11,200 s/f
April 22, 2011 Cronheim arranges $18.9M financing for retail center at Mansfield Commons Marcus & Millichap Horvath, Tremblay & Lambardi sell $10.25M Stop & Shop Nathanson of Marcus & Millichap sells 14,485 s/f building totaling $6.835 million. KW Commercial-The James Balliet Comm’l Group brokers $2.36M Shopping Center Welco Realty signs 30,000 s/f retail lease in Paramus, NJ
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
May 27, 2011 Thurston of Marcus & Millichap sells retail building in Paramus, NJ for $7.95 Million Marcus & Millichap’s Nathanson sells $2.44M building WP Realty announces Shaw’s portfolio acquisition totaling 659,143 s/f Equity Retail Brokers 1.5 Acres lease & 24,000 s/f lease
June 24, 2011 Colliers brokers $9 million retail sale. William Aiello & George Lulos reps both parties Marcus & Millichap’s Taylor, Zang & Snell broker $4.6m sale of Ayden Crossing Welco Realty reps Prestige Properties & Dev. in 28,000 s/f store opening in Bay Plaza
KW Commercial | 40 S. Cedar Crest Blvd.| Allentown, PA 18104
610-435-4711 www.lehighvalleycommercial.com Steve Gartner
Mark Taylor
Christopher Munley
Dean Zang
Peter Snell
Conrad Heckmann
William Aiello
George Lulos
James Balliet
Andrew Stewart
Central PA’s Leading Commercial Industrial Real Estate Firm*
Our Agents: Bradley Swidler
David Rudy
Craig Rahn
Jason Sourbeer
Daniel Alderman
Joseph Bedard, SIOR
Erik Gainor
Justin Shoemaker
Fahd Malik
Mark Santanna
Harold Leibenson
M. Richard Kleiman
Ida McMurray, CCIM
Nathan Kranz
Jack Shepley, SIOR
Nik Sgagias
James Ross
Peter Gemora
William Gladstone, CCIM, SIOR
Robin Zellers, SIOR, COO
From the design phase to job close out, All-Rite delivers the highest quality workmanship in professional collaborative environment for a win-win outcome on every project, large or small!
*Based on Central Penn Business Journal Report of Commercial Real Estate Firms 2008-2010
Call today to speak to one of our construction experts about your needs: 1-800-255-7483 www.all-riteconstruction.com
Mid Atlantic Real Estate Journal â&#x20AC;&#x201D; Top Retail Deals 2011 â&#x20AC;&#x201D; February 24 - March 15, 2012 â&#x20AC;&#x201D; 23
www.marejournal.com
TOP RETAIL DEALS â&#x20AC;&#x153;2011â&#x20AC;? Featured 2011 Top Retail Headlines July 29, 2011 Oâ&#x20AC;&#x2122;Neill Properties Group announced that Bass Pro Shops signed 200,000 s/f lease Cronheim Mortgageâ&#x20AC;&#x2122;s Westoff, Morris & Stewart arrange $19.3M financing
August 26, 2011 Molloy & Nathanson of Marcus & Millichap brokers $12.8 sale of Sunset Lake Commons MMCCâ&#x20AC;&#x2122;s Conley, arranges $7 million in refinancing for Philadelphia SC Marcus & Millichap NJ office completes $4.065m in sales of 2 retail centers CBC/Bennett Williams arranges $575,000 in sales Taylor Long Properties handles $305,000 Sale
September 23, 2011 Katz Properties acquires control of Shopping Center in Shillington, PA for $16.15m Grant Street Associatesâ&#x20AC;&#x2122; Geiger and Sell broker $1.225 million sale Metro Commercial inks 98,450 s/f in PA and NJ CBC/Bennett Williams brokers 35,528 s/f of leases in PA
October 22, 2011 High Real Estate Groupâ&#x20AC;&#x2122;s $40-million Mill Creek Square opens in Lancaster PA Metro Commâ&#x20AC;&#x2122;l Hope and Dougherty broker 33,000 s/f Ashley Furniture lease The Hampshire Companies ink 20,000 s/f lease at Church Square SC in MD
November 25, 2011 Phillips Edison-ARC Shopping Center REIT Inc. acquires SC for $16.6M Marcus & Millichap arrange $15.9m sale of BJâ&#x20AC;&#x2122;S Wholesale Club. Gorman, Gorman, Shover, Taylor & Zang orchestrate deal Triangle Equities Dev. Corp recapitalizes $5.5M loan. Goldman negotiates deal Legend Properties Inc. brokers 43,328 s/f deal. Aristone & Campbell rep landlord
â&#x20AC;˘ Project Management â&#x20AC;˘ Development Due Diligence & Feasibility Studies â&#x20AC;˘ Agency Permitting
December 23, 2011
â&#x20AC;˘ Land Development Design
Zerfass of Colliers International secures buyer in $565,000 sale of 9,100 s/f building SVN-Miller Commâ&#x20AC;&#x2122;l RE brokers $280,000 pad site. Gillis & Miller rep both parties Conston of Equity Retail Brokers 333,400 s/f sale of two former dept. store leases Fameco leases 5,005 s/f at The Streets of Chester. Heller of Welco Realty reps Platypus
Jerry Welkis
Robert Geiger
Mike Sell
Joesph Dougherty
Randy Hope
Matt Gorman
Michael Shover
Derek Zerfass
Brad Gillis
Stuart Conston
â&#x20AC;˘ Construction Phase Services â&#x20AC;˘ Graphic Services 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
110 N. George Street, 4th floor York, PA 17401
ph: 717-843-5555 fax: 717-843-5550 www.bennettwilliams.com â&#x20AC;˘ Landlord Representation
SERVING CENTRAL PENNSYLVANIA FOR OVER 50 YEARS
â&#x20AC;˘ Tenant Representation
â&#x20AC;˘ Investment Sale & Acquisition â&#x20AC;˘ Site Selection â&#x20AC;˘ New Construction Leasing & Development â&#x20AC;˘ Property & Portfolio Dispositions â&#x20AC;˘ Property Management
7KH &KU\VOHU %XLOGLQJ /H[LQJWRQ $YHQXH 7RZHU 6XLWH 1HZ <RUN 1< )UDQNLH - &DPSLRQH 3ULQFLSDO ZZZ FUHDWHZRUOGZLGH FRP
24 — February 24 - March 15, 2012 — Top Retail Deals 2011 —
Mid Atlantic Real Estate Journal
TOP RETAIL DEALS “2011”
www.marejournal.com
Mid Atlantic Real Estate Journal — Top Retail Deals 2011 — February 24 - March 15, 2012 — 25
www.marejournal.com
TOP RETAIL DEALS “2011” KW Commercial- The James Balliet Commercial Group KW Commercial- The James Balliet Commercial Group 40 S. Cedar Crest Blvd. Allentown, PA 18104 TOTAL SALES OR ACQUISITIONS: 64 BRIEF OVERVIEW OF 2011: The Lehigh Valley retail/
Remco Realty REMCO REALTY 525 Milltown Road, Suite 101 North Brunswick, New Jersey 08092 BRIEF OVERVIEW OF 2011: 2011 We are pleased to announce that 2011 was a banner year for us. In addition to
office real estate markets held up well versus the national averages. Leasing activity was strong and the sale of propJames Balliet
erty picked up significantly from 2010 totals. Rental rates
Remco obtaining its Pennsylvania Brokers license in 2011, it was a year that provided us with the most listings obtained, the highest volume of completed transactions, along with the Peter Gallicchio highest dollar volume of gross commissions received since our April 2008 inception. A sample of those completed trans-
will increase incrementally while vacancy rates decrease and consumer
actions include the leasing of 3,700 s/f to Enterprise Car Rental in Lodi, the leasing of 4,000 s/f to Sherwin Williams in East Hanover, the leasing
confidence and product demand continues to increase.
of 6,300 s/f to Strauss Auto in Toms River, and the leasing of 6,500 s/f to Napa Auto Parts in Bridgewater. SHORT STATEMENT ON 2012 OUTLOOK: With both consumer and investor confidence on the rise, we enter 2012 on a very positive note. In
SHORT STATEMENT ON 2012 OUTLOOK: New construction and proposed developments will begin to increase in late 2012 into 2013. With that said we also expect current property owners will begin focusing on
mid-December, Remco was awarded the marketing assignment to sell or lease a 7,000 s/f free-standing building in Middlesex, formerly occupied by Block Buster video, and within 30 days, Remco also secured the “all cash” buyer. Although this is an election year, we remain very optimistic regarding the overall economy, and the continued demand for retail real
renovation and improvements of existing shopping centers and spaces to
estate, and as such, we just doubled the size of our offices. Remco is in an expansion mode, and we are actively seeking full time sales associates who
compete against the newer projects. ■
are licensed in New Jersey and Pennsylvania. ■
KW COMMERCIAL
REMCO REALTY
SHINE THE SPOTLIGHT ON YOUR COMPANY
Interested in joining the many Retail Experts who are already participating?
5th Annual Retail Experts March 30, 2012
For Lease: OLD BRIDGE, NJ
Sale / Lease: HAZLET, NJ
Cheesequake Commons is a 35,000sf CVS anchored neighborhood strip center. We currently have 2 vacancies ranging from 1,500 sf to 2,500 sf. Ciro Pizza Café recently leased a 4,755sf end cap, and will open in April 2011. The strip center is located ¼ mile from the Matawan Train Station, exit #120 of the Garden State Pkwy. Seeking Chicken, Burgers, optical, dental, medical, travel, electronics and gift categories.
Free standing 15,000sf retail building on 2.57 acres, up to 100 car parking, with large Two Panel Pylon sign. The building is clear span and column free. Serving: Hazlet, Keyport, Aberdeen and Holmdel. Ideal uses: Home Improvement, Fitness, Appliances, Day Care, Electronics, Party & Rentals, Golf, Liquor Store, Pools & Patio, Marine, Produce Market, Pet Supplies
Contact: Peter Gallicchio • pgallicchio@RemcoRealty.net
For details on how to submit your Expert Bylined Article Contact Elaine Fanning to reserve your space 800.584.1062. x212 or efanning@marejournal.com
REMCO REALTY GROUP, LLC 525 Milltown Road, Suite 101 North Brunswick, NJ 08902 (732) 253-0888 x 11 www.RemcoRealty.net
26 — February 24 - March 15, 2012 — Top Retail Deals 2011 —
Mid Atlantic Real Estate Journal
www.marejournal.com
TOP RETAIL DEALS “2011” +
18 million square feet ARIZONA Mesa Kohl’s McKellips Road & Recker Road 95,279 SF GLA Part of Falcon View Plaza w/ Fry’s Phoenix Freestanding Barnes & Noble 1035 N. Metro Pkwy. West & 28th Dr. Adjacent to Metro Center Mall 19,360 SF on 1.48 Acres Tolleson Freestanding Kmart West McDowell Road & North 86th Drive 86,479 SF GLA FLORIDA Gainsville Mixed Use – Grocery Store & Student Housing NW 13th St & University Avenue 1.74 Acres Over 27,500 SF Ground Floor Retail in Proposed 171,000 SF 6-Story Residential Bldg Fern Park Lowe’s Shopping Center 6735 Hwy. 17-92 & Fernwood Blvd. near Hwy. 436 129,085 SF GLA Proposed Retail Strip: 9,000 SF ILLINOIS Downers Grove Marshall’s at The Grove 75th St. & Lemont Rd. 400,000 SF GLA Anchor Space Available 43,264 SF Niles Golf Glen Mart (Outparcel) Golf Rd. & Dee Rd. Up to 12,000 SF Outlot, B-T-S INDIANA Evansville Evansville Shopping Center Morgan Ave. & Boeke Rd. Rural King, Dollar General 153,000 SF GLA Indianapolis Pendleton Plaza Pendleton Pike & Shadeland Ave. Kmart 134,797 SF GLA South Bend South Bend Shopping Center US Hwy. 20 & US Hwy. 31 112,900 SF GLA Anchor Space Available
RD
Management LLC
MICHIGAN Grand Blanc Vacant Land Holly Rd. & I-75 22 Acres For Sale Muskegon Muskegon Shopping Center Henry St. & Norton Ave. 187,000 SF GLA Anchor Space Available Port Huron Port Huron Shopping Center Howard St. & 24th St. Big Lots, Save-A-Lot, Family Dollar 118,000 SF GLA Anchor Space & Outlot Available Redford Redford Plaza Plymouth Rd. & Inkster Rd. CVS/114,865 SF GLA Anchor Space Available Saginaw Saginaw Square Tittabawasse Rd. & Bay Rd. Target, JoAnn Etc., Staples 94,891 SF GLA Anchor Space Available Sandusky Kmart Shopping Center M-19 & Gates Rd. 176,248 SF GLA Anchor Space Available Southgate Fort St. & Burns Ave. 60,800 SF GLA Freestanding / Redevelopment Opportunity MINNESOTA St. Paul Midway Shopping Center University Ave. & Snelling Ave. Rainbow Foods, Office Max, Walgreens 280,353 SF GLA Anchor Space Available 40,262 SF NEVADA Las Vegas Kmart Plaza E. Sahara Ave. & McLeod Dr. 127,754 SF GLA 10,945 SF Outbldg. Available NEW JERSEY Marlton (Evesham) Tri-Towne Plaza Route 70 & Plymouth Dr. Superfresh/176,519 SF GLA Anchor Space Available/Redevelopment Opportunity
Thomas G. Mirandi 212-265-6600 Ext. 239 Email: tmirandi@rdmanagement.com Fax: 212-459-9133
Mid Atlantic Real Estate Journal — Top Retail Deals 2011 — February 24 - March 15, 2012 — 27
www.marejournal.com
TOP RETAIL DEALS “2011” +
200 retail projects NEW YORK Nanuet Home Depot Plaza Route 59 & Hutton Ave. Home Depot, Staples 250,000 SF GLA/Pad Available
PENNSYLVANIA Allentown Home Depot Plaza Lehigh St. & Route 78 220,000 SF GLA 9.82 Acres Available
Orangetown Orangeburg Commons Route 303 & Palisades Parkway Future Retail Development Anchor Space, In-Line Space & Pads Available Adjacent to Lowe’s
Carlisle Hanover Street (Route 34) & I-81 Home Depot, Chili’s 140,715 SF GLA 10,584 SF Future Expansion/Pad
NEW JERSEY Mt. Olive Pad Sites Available Adjacent to Foreign Trade Zone Across from Wal-Mart, Sam’s, TJ Maxx Old Bridge A & P Shopping Center Route 9 & Ferry Rd. 64,920 SF GLA Up to 4,000 SF Outlot Vineland Vineland Marketplace Delsea Dr. (Route 47) & College Dr. New Development 273,657 ± SF GLA / Outlots Available Williamstown Williamstown Shopping Center Black Horse Pike (Route 42) & Main St. CVS, Fashion Bug, Dollar General 85,000 SF GLA Anchor Space Available NEW YORK Deer Park Kohl’s Plaza Commack Rd. & Grand Blvd. Kohl’s, Super Stop & Shop 182,875 SF GLA Proposed Pad 3,800 SF Glenville/Scotia (Albany) Freestanding Building Saratoga Rd. (Route 50) & Glenridge Rd. 128,485 SF GLA Anchor Space Available Holtsville Island 16 Cinemas Shopping Center Nicholls Rd. & Long Island Expwy. National Amusements Theater, Chili’s 117,342 SF GLA Pad Bldg. Available with Drive-thru
Staten Island Lowe’s West Shore Center Veterans Rd. West (I-440) & Arthur Kill Rd. Pad Building Available 7,000 SF New Retail Bldg. Available 166,600 SF GLA Stony Point Stony Ridge Plaza Route 9W & Park Rd. US Post Office, Curves For Women 21,212 SF GLA Williamsburg (Brooklyn) North Side Piers Retail 20 North 5th St. & Kent Ave. Tower I: 181 Condos, 113 Apts. & 17,167 SF Retail Tower II: 250 Condos & 5,178 SF Specialty Rest. OHIO Ashtabula Home Depot Plaza Route 20 (N. Ridge Rd.) & Orchard Rd. 130,000 SF GLA 18,440 SF Expansion & Pad Findlay Hobby Lobby Plaza Tiffin Ave. & Croy Dr. Hobby Lobby Anchor Space Available
Latham/Colonie (Albany) Kmart Shopping Center Route 7 & Swatling Rd. 118,863 SF GLA Up to 10,000 SF Outlot Available
Oregon (Toledo) Vacant Land – 4.645 Acres Dustin Rd. & Isaac Street Dr. 1 block south of Navarre Ave. (Rte. 2) & Kmart 116,805 SF GLA
Monroe/Woodbury Harriman Commons Routes 17 / 6 & Route 32 Wal-Mart, Home Depot, BJ’s, Target, Home Goods, Best Buy 687,716SF GLA Anchor Space & Outlots Available Future Phase III Office Bldg.
OREGON Salem Kmart Shopping Center Mission Street S. E. 116,866 SF GLA
RD
Management LLC
Trexlertown Trexlertown Marketplace Hamilton Blvd. (Route 222) & Mill Creek Rd. Walgreens, Panera Bread, Verizon 36,068 SF GLA TENNESSEE Hermitage (Nashville) Freestanding Bldg. adjacent to Jackson’s Courtyard Shopping Center 3445 Lebanon Pike 24,040 sf GLA 36,000 sf GLA Possible Redevelopment Texas Ft. Worth Westcliff Shopping Center Albertson’s Market, Dollar General Alton Rd. & Biddison St. 133,332 sf GLA VIRGINIA Richmond Food Lion Plaza Route 1 (Jefferson Davis Hwy.) & Chippenham Pkwy. Outlots Available WEST VIRGINIA St. Albans St. Albans Center Route 60 & MacCorkle Ave. SW Kmart, Super Kroger, Peebles, CVS 230,000 SF GLA PUERTO RICO Arecibo Arecibo Towne Center Routes 2 & 22 Future Development Anchor Position & Outlots Available Ponce Reina del Sur; Outlots at Ponce Towne Center II Rtes. #2 & Baramaya Ave. (Rte. 10) @ PR-52 Wal-Mart SuperCenter, Home Depot New Development & Pads 525,000 ± SF GLA
Thomas G. Mirandi 212-265-6600 Ext. 239 Email: tmirandi@rdmanagement.com Fax: 212-459-9133
28 — February 24 - March 15, 2012 — Top Retail Deals 2011 —
Mid Atlantic Real Estate Journal
www.marejournal.com
TOP RETAIL DEALS “2011”
SILBERT REALTY & MANAGEMENT COMPANY, INC.
“Relationships Built On Results Since 1986” Real Estate Brokerage ∙ Property Management ∙ Asset Repositioning ∙ Retailer Advisory Services The Highlands At Morristown Station
Vail Mansion
Shops On The Green (40 Park & The Metropolitan)
“One Of A Kind Landmark” 15,700 SF Of Extraordinary Commercial Space Town of Morristown, Morris County, NJ
Morristown’s Award Winning Project & Premier Retail Environment Town of Morristown, Morris County, NJ
Mid-Rise Luxury Mixed-Use Apartments Plus Ground Floor Retail/Commercial Town of Morristown, Morris County, NJ
Hillsborough Centre
Eagle Rock Commons
Stop & Shop Anchored Shopping Center Township of Hillsborough, Somerset County, NJ
Premier Community Retail Center Borough of Roseland, Essex County, NJ
Village Shoppes At Hawk Pointe
ShopRite Anchored Shopping Center Washington Township, Warren County, NJ Target Anchored Center
Englewood South Phase II
Riverwalk Village Center
Community Shopping Center Washington Township, Morris County, NJ
21 Acre Mixed-Use Luxury Development City of Englewood, Bergen County, NJ
Mixed-Use Retail/Office Development Bernards Township, Somerset County, NJ
For additional information on any of these great opportunities, or any additional assets for sale or lease, please contact us.
We Are Prepared To Service Your Real Estate Needs In Any Capacity (908) 604-6900 (908) 604-2030 fax
85A Division Avenue ∙ P.O. Box 406 Millington, NJ 07946
www.silbertrealestate.com info@silbertrealestate.com
Mid Atlantic Real Estate Journal — Shopping Centers — February 24 - March 15, 2012 — 29
www.marejournal.com
RETAIL BROKERAGE DIRECTORY Azarian Realty Co. The Azarian Building • 6 Prospect St. Suite 1B • Midland Park, NJ 07432 F: 201-444-9888 F: 201-444-6655 www.azariangroup.com info@azariangroup.com John M. Azarian • Donna M. Azarian • Kevin Pelio Nicole Critelli • Matt Scozzari
Fameco - Woodbridge, NJ Woodbridge Towers • 555 U. S. Hwy 1 Iselin, NJ 08830 P: 732-526-9000 F: 732-526-9101 www.famecoretail.com Tyler Bennett • Carlo Caparruva Mike Horne • Scott Jennerich • Dan Spector Steven Winters • Anthony Palmiotto • Kim Kretowicz Fameco - Philadelphia, PA 1425 Walnut Street, Suite 200 Philadelphia, PA 19102 P: 215.557.0050 F: 215.557-0053 www.famecoretail.com Jackie Balin • Paige Barrow Michael Gray • Eva Redette • Larry Steinberg
Coldwell Banker Commercial Bennett Williams Inc. 110 N. George Street • 4th Floor York, PA 17401 P: 717-843-5555 F: 717-843-5550 info@bennettwilliams.com Robert Behler Jr. • Bobby Traynham Dennis Neiman • Chad Stine Chris Seitz • Bradley Rohrbaugh • David Schad
Colliers International – Philadelphia, PA (HQ) 399 Market St. Ste. 350 Philadelphia, PA 19106 P: 215-925-4600 F: 215-925-1040 www.colliers.com/philadelphia Michael Barmash • Despina Belsemes David Dunkelman • Michael Kahan Todd Sussman Colliers International – Allentown, PA 7535 Windsor Dr., Ste. 208 Allentown, PA 18195 P: 610-770-3600 F: 610-770-3100 Derek Zerfass • Scott Horner Colliers International – Harrisburg, PA 300 N. Second St., Ste. 1203 Harrisburg, PA 17101 P: 717-730-3752 F: 717-238-3299 William Aiello • George Lulos Colliers International – Mount Laurel, NJ 1317 Route 73, Ste. 109 Mt. Laurel, NJ 08054 P: 856-234-9300 F: 856-222-1115 David Dunkelman Colliers International – Wilmington, DE 300 Delaware Ave., Ste. 1018 Wilmington, DE 19801 P: 302-425-4000 F: 302-425-4700 Mark Undorf
Fameco - Plymouth Meeting, PA 633 West Germantown Pike • Suite 200 Plymouth Meeting, PA 19462 P: 610-834-8000 F: 610-834-1793 www.famecoretail.com Cathy Agnew • Brian Bruzek • Jeff Cohen Jim Creed • Scott Dennis • Brandon Famous John Fasciano • Dana Hawkins Jerry Johnson • Jon Kieserman Adam Kohler • John Krause • Jon Kushner Gary Leone • Marc Mandel • Matt Mandel Jay Miller • Steve O’Malley • David Orkin Dale Peterson • Rick Schuch Julie Tanpitukpongse • Dave Vitali Rick Weinberg • Fred Younkin Colin Behr • Daniel Sonnentag
Kay Realty Services, LLC 1989 Jumping Brook Rd. Tinton Falls, NJ 07753 P:732-918-1148 F:732-918-1628 www.kayrealtyholdings.com William Klein, Broker • Developer Property Management • Leasing
KW Commercial-The James Balliet Commercial Group 40 S. Cedar Crest Blvd. Allentown, PA 18104 P:610-435-4711 F:610-435-2800 James Balliet, Robert Thompson, Melanie Stocker Dr. Rex D’Agostino, Cheyenne Reiman Pete Ambrosino, Heather Lynne Christopher Milotich
Joe R. Deerin, CSM • Donna Deerin Ward 120 North Pointe Blvd., Suite 301, Lancaster, PA 17601 P: 717-569-9373 T: 800-864-2633 www.LMS-PMA.com Dave Nicholson, Blaze Cambruzzi, Michael Boden, SCSM, Chad Ward, Blake Gross, Joe Spagnola, CCIM Ted Hummel, CCIM, e-pro, Wilay Boensch
David S. Feldman Regional Manager – Washington DC Office Special Assets Services – Regional Director 7200 Wisconsin Ave. • Ste. 1101 • Bethesda, MD 20814 P: 202-536-3700 F: 202-536-3710 www.marcusmillichap.com Michael J. Fasano Vice President and Regional Manager 611 River Dr. • 4th Floor • Elmwood Park, NJ 07407 P: 201-582-1000 F: 201-582-1010 www.marcusmillichap.com Spencer Yablon Vice President and Regional Manager 101 West Elm Street • Suite 600 • Conshohocken, PA 19428 P: 215-531-7000 F:215-531-7010 www.marcusmilllichap.com
Metro Commercial – Mt. Laurel, NJ 303 Fellowship Rd • Suite 202 • Mt. Laurel, NJ 08054 P: 856-866-1900 F: 856-866-1611 Brandon Anapol • Brent Barbehenn • Dan Brickner Rob Cooper • Mark Gerlach • Perry GraBois Tom Londres • Lauren McDermott • Pete Nicholson Kurt Rumley • Paul Rumley • George Wisnoski Metro Commercial - Conshohocken, PA Eight Tower Bridge • 161 Washington St. • Suite 375 Conshohocken, PA 19428 P: 610-825-5222 F: 610-825-5156 Phil Azarik • Joe Dougherty • Donna Drew • Steve Gartner • Brian Goodwin • Randy Hope Glenn Marvin • Mike Murray • Steve Niggeman Roy Perez-Daple • Aaron Repucci Metro Commercial - Center City 123 S. Broad St. • Suite 1835 Philadelphia, PA 19109 Michael Gorman • Steve Gartner • Lars Kerstein
Remco Realty Group 525 MIlltown Rd. • Ste. 101 • North Brunswick, NJ 08902 P: 732-253-0888 F: 732-253-0887 www.remcorealty.net Peter Gallicchio, Owner/President Nicole Zeller - Christopher Virgo - Brian Heller Joseph Marino – Mark DiGiovanni
Rock Commercial Real Estate LLC 221 W. Philadelphia • St. Suite 19 • York, PA 17401 www.rockrealestate.net Ryan Myers, CCIM, • Larry O’Brien, CCIM Benjamin Chiaro, CCIM • Cami Spiridonoff, CPM David Bode, CCIM, SIOR • Dave Keech, CCIM, SIOR Jason Turnbull, CCIM • Kevin Hodge, CCIM Michael Katz, CCIM • Russ Bardolf, CCIM
30 — February 24 - March 15, 2012 — Shopping Centers — Mid
Atlantic Real Estate Journal
www.marejournal.com
SHOPPING CENTERS BUSINESS CARD DIRECTORY ENGINEERING CONSULTANT
COMMERCIAL INVESTMENT RE Jules A. Borrus BROKER-PRESIDENT
GENERAL CONTRACTOR
(732) 345-7002 FAX 97320 345-7207
·COMMERCIAL ·INDUSTRIAL ·INVESTMENT
Ma hew Ru , PE,CDP President
direct/cell: (717) 490-2785 mruƩ@landcoreconsulƟng.com
REAL ESTATE
Mailing Address: P.O. Box 8357 Red Bank, NJ 07701 Email: borruscommre@aol.com
LANDCOREconsulƟng.com PHILADELPHIA • LANCASTER • PITTSBURGH • PRINCETON
GENERAL CONTRACTOR
GEOTECHNICAL CONSULTANT
METAL BUILDING CONSULTANTS
PROPERTY MANAGEMENT/DEVELOPMENT
REAL ESTATE ACQUISITIONS
REAL ESTATE INVESTMENT SVCS.
Daniel Katz
P: 212.710.9362
F: 917.591.5497
E: DKATZ@KATZPROPERTIES.COM WWW.KATZPROPERTIES.COM
REALTY
REALTY
REALTY The James Balliet Commercial Group James Balliet
R E A L E S TA T E S E R V I C E S
President
WILLIAM F. BARGLOW Tel: 732-297-8700 Fax: 732-297-8701 Cell: 732-208-7135 878 Georges Road - Suite 6, Monmouth Junction, NJ 08852
40 S. Cedar Crest Blvd. Allentown, PA 18104 www.lehighvalleycommercial.com
direct main cell fax
610.435.4712 610.435.4711 610.972.6808 610.435.2800
jballiet@kw.com
WEBSITE: www.barglowcompanies.com • EMAIL: bill@barglowcompanies.com
SITE MANAGERS
SNOW & ICE SERVICES
SNOW SERVICES
(717) 898-7651 www.brkreider.com
Snow & Ice Solutions™ Excavating, Paving & Utility Contractors • Residential • Commercial HIC # PA011033
The Mark of Excellence in Zero Tolerance Snow and Ice Management
• Zero Tolerance • Liquid Anti-Icing • Risk Management – • Certified Weather Reports Reducing Your Liability Exposure
877-DE-ICE-IT
431405_Cenova.indd 1
Serving all of the Northeast and Mid-Atlantic States with
SNOW AND ICE MANAGEMENT
Certified Snow Professionals On Staff
• Certified Snow Experts • Over 30 Years Experience • Weather Forecasts and Alerts
• Risk Management • 24/7 Call Center • Fully Insured • State-of-the-Art Equipment
Toll Free 888-220-2570
7/17/09 11:26:51 AM
GREEN BUILDINGS NJPA Mid Atlantic Real Estate Journal — February 24 - March 15, 2012 — 31
www.marejournal.com
Gerard Hazel of Sustainable Systems LLC provides consulting services on project
Mack-Cali announces Liberty Corner Corporate Center achieves LEED Silver Certification
B
ERNARDS TOWNSHIP, NJ — Mack-Cali Realty Corporation announced that Liberty Corner Corporate Center, 106 Allen Road in Bernards Twp. has been awarded LEED-EB: OM 2009 Silver certification from the U.S. Green Building Council (USGBC). 106 Allen Rd. is the second multi-tenanted building in New Jersey to achieve this prestigious award. The LEED-EB:OM 2009 (“Leadership in Energy & Environmental Design – Existing Buildings: Operation & Maintenance”) certification recognizes maximized operational efficiency with minimized environmental impact. It addresses cleaning and maintenance issues – including chemical use
– recycling programs, exterior maintenance programs, and system upgrades. It is the only LEED rating system under which projects can demonstrate actual energy efficiency and sustainable operations performance metrics. Highlights of the building’s sustainability achievements include: • An ENERGY STAR rating of 95, which places the building in the top 5 percent of similar buildings in terms of energy efficiency • Use of highly efficient plumbing fixtures providing water savings of 23 percent • Improvements to the building’s irrigation system provide a 66 percent reduction in water use for irrigation, as well as the installation of a
106 Allen Road in Bernards Township, NJ dedicated meter to monitor durable goods from entering ongoing performance the waste stream • Recycling efforts resulting • As part of the building’s in a 55 percent diversion rate Sustainable Purchasing Plan, of recyclables from landfill of mercury content of lighting ongoing consumable waste and has been substantially rea 100 percent diversion rate of duced
• A Green Cleaning Program has been implemented as part of a comprehensive building-wide Indoor Air Quality Program Gerard Hazel of Sustainable Systems LLC provided consulting services on the project. Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, “We are very proud to have achieved this important designation at 106 Allen Road, which enhances the institutional quality of this class A building. Today, businesses and government agencies are more environmentally conscious and are looking specifically for office properties that are energy efficient and more sustainable, with a goal of reducing their overall carbon footprint.” ■
Hartz Mountain continues green The ELM Group undergoes objectives by opening solar array management buyout HAMILTON, NJ — Hartz Mountain Industries has begun producing power at its Hartz Solar Hamilton facility, an 8.5 Megawatt (MW) ground-based solar array in Hamilton, NJ. Completed in December of 2011, the first ground based solar array by the developer is comprised of over 30,000 solar modules, making it one of the largest solar power systems delivering power in New Jersey and solidifying Hartz Mountain’s position as a leading solar power producer in the state. “The impetus for Hartz to develop the ground array was the economic and environmental benefits that stem from the investment in solar energy, including jobs, reduced air pollution, and long term energy security ” said Emanuel Stern, president and COO of Hartz Mountain Industries, Inc. “I applaud the Christie Administration and the New Jersey Legislature for continuing to make New Jersey a national leader in solar energy.”
The ground array is located in Hamilton Township near the intersection of the New
The Hartz Solar Hamilton facility comes on line following its standard-setting
“The impetus for Hartz to develop the ground array was the economic and environmental benefits that stem from the investment in solar energy, including jobs, reduced air pollution, and long term energy security ” said Emanuel
PRINCETON, NJ — The ELM Group, Inc. (ELM), has undergone a management buyout of the founding principal and owner, Joseph Fallon. The remaining principals will continue leading the firm, where Mark Fisher and Peter Brussock, Ph.D. have assumed the role of managing partners.
with Brownfields redevelopment, and project management services for complex
This action is the latest step in the long term transition plan the firm has had in place for the past 10 years. Fisher said “It is important for us as a firm to continue to provide growth opportunities for our key people, and this is part of the ongoing process to provide such opportunities”. Dr. Brussock added “and we now look forward to the challenges to continually improve our services for our expanding client base”.
the ongoing process to pro-
environmental issues associated with hazardous substance discharges. The firm also provides land use management and planning, ecological assessments and restoration services, as well as permitting and compliance/monitoring services for ongoing industrial and commercial operations.
ELM is an award winning environmental engineering and consulting firm that specializes in environmental due diligence, site investigations and remediation, along
ELM currently employs a staff of 55 people and is headquartered in Princeton with offices in New York City, Boonton NJ, Holicong PA and Bethlehem, PA. ■
Stern Jersey Turnpike and I-195. The plot of land is sixty-five acres of land previous zoned for residential development, thirty-four of which is used for solar. This ground array, combined with an existing roof-top solar portfolio atop 13 buildings, brings Hartz’s total installed solar generating capacity to 17 MW. Hartz Mountain contracted with Madison, WI based RMT, Inc. to design and construct the array. RMT is a nationally recognized leader in the engineering and construction of renewable energy facilities. The ground array project was financed by TD Bank.
memorandum of understanding (MOU) with Environmental Protection Agency (EPA) to reduce its carbon footprint. The ground solar array should allow Hartz Mountain to nearly double the greenhouse gas emissions savings it has already achieved. According to EPA, in 2011, Hartz reduced greenhouse gases by 12,574 MTCO2e (metric ton carbon dioxide equivalent). In layman’s terms, that’s a reduction equivalent to taking 2,466 vehicles off the road per year or the carbon dioxide reduction equivalent to more than 1.4 million gallons of gas. ■
Fisher said “It is important for us as a firm to continue to provide growth opportunities for our key people, and this is part of vide such opportunities”.
32 — February 24 - March 15, 2012 — Green Buildings — Mid
Atlantic Real Estate Journal
www.marejournal.com
MAREJ GREEN BUILDINGS Customized Energy Reduction Plans • MEP/FP engineering including LEED • Building Commissioning including LEED • Energy engineering / audits / energy modeling • NJ Pay For Performance Partner / Carbon Abatement Program partner • PA Act 129 vendor • Federal Energy Tax Incentive partner • Infrared Testing • ASHRAE High Performance Buildings CertiÄed • Building Information Modeling (BIM) • MBE/SBE certiÄcation Contact: Jeff Gilbeaux P: 856-988-1890 Email: info@gilbeauxassociates.com PO Box 782, Voorhees, NJ 08043
8 Wendover Road, Edison, NJ 08820-3659 Specializes in
EXPERT AERIAL PHOTOGRAPHY OF COMMERCIAL PROPERTIES NATIONWIDE
By Wendy Arienzo, ArrayPower
Making solar more accessible to commercial property owners he commercial and residential building sector consumes 49 percent of all energy produced in the United States, and as a result, many building owners in states like New Jersey and Pennsyl- Wendy Arienzo vania have begun to take advantage of generous federal and state financial incentives to build commercial-scale solar systems to offset some of their electricity costs. These financial incentives, however, are not long-term solutions, and more needs to be done to reduce the non-subsidized cost of solar. Though the price of solar has dropped significantly due to decreases in the prices of PV modules, it is important for the solar industry to continue to invest in balance-of-system improvements that address the upfront and system lifetime costs of solar. Commercial-scale solar is an important driver of growth in the solar market because it reduces operating and management expenses for building owners and tenants. Thus, technologies that make com-
T
mercial-scale solar more affordable are of great benefit to the real estate community. The inverter – the component that converts the DC power produced by the PV module into grid-ready AC power – is a portion of the solar system that can significantly affect system performance and cost. Traditionally, there are three types of inverters: central, string and microinverters. Central and string inverters are most commonly used for commercial-scale solar systems, but they are not reliable or efficient at harvesting the energy from the system. Microinverters are much more efficient at harvesting solar energy, but they are prohibitively expensive for the larger systems that commercial buildings use. ArrayPower has developed an inverter technology that addresses this performancecost nexus, maximizing energy harvest at a price competitive with string inverters. ArrayPower partners with solar module manufacturers to integrate each of ArrayPower’s Sequenced Inverters with the PV module during the manufacturing process in a plug-in format, eliminating dangerous and difficult wiring and improving system installation and maintenance costs and
safety. This technology allows the Sequenced Inverter to provide the only fully integrated system that delivers commercial-grade, three-phase AC power, useable at any commercial or industrial facility. Important to building owners and tenants, the Sequenced Inverter’s high performance and deep level of integration offer significant lifetime system cost savings. Specifically, this technology reduces the cost of commercial solar by 35 cents per watt, or more than 10 percent, by lowering capital costs, simplifying installation and increasing energy harvest. By installing systems that use the Sequenced Inverter technology, building owners will be able to offer tenants a cut-rate electricity bill for less capital cost, and building tenants will be able to reap the benefits of distributed solar more easily. It is important that businesses and building owners move toward greener, more sustainable business practices, and by offering commercial-scale solar at a more affordable price, the Sequenced Inverter will play an important part in helping the commercial real estate sector achieve that goal. Wendy Arienzo is CEO of ArrayPower. ■
Now YOUR Facility Can Enjoy Natural Daylight All Day Long! There’s nothing ‘Greener’ than turning your lights OFF all day -
Capitol’s expert photographers will: 1. Take photos within 48 hours (weather permitting) 2. Provide bright, sharp, prints, within 5 working days or earlier 3. Insure the highest quality available
Please call Mark Seeman at 732-494-6691 Fax 732-494-5037 Quality Photos For Over 25 Years Many References Available www.capitolaerials.com
and Daylighting Improves Learning and Productivity while Reducing Mistakes, Accidents and Worker’s Comp by 500%! SunTracker ACTIVE Skylight 3 Times as much Daylight for 3 Times as long/day with 2~4 Times better Thermal Protection - ZERO Heat Gain, Minimal HVAC Loss, NO UV Damage and NO Glare! YOUR facility can look like this! NO LIGHTS ON! Free evaluation & Quote! 100% FINANCING!
www.agreenernj.com 908-240-7484
Mid Atlantic Real Estate Journal — Green Buildings — February 24 - March 15, 2012 — 33
www.marejournal.com
GREEN BUILDINGS
FULL SERVICE SOLAR
Trust your Solar Project to One of NJ’s Solar Founders, SUN FARM NETWORK, a Full Service Solar Project Developer! For a Free Solar Evaluation and Site Survey Call: 908.782.4172 or Visit www.SunFarmNetwork.com Email: Info@SunFarmNetwork.com
34 — February 24 - March 15, 2012 — Green Buildings — Mid
Atlantic Real Estate Journal
www.marejournal.com
Haftek CWS Safe. Responsible. Enviromentally Friendly. Keep Your Job Sites — And Your Bottom Line — Looking Good
Renewable & Alternative Energy Spotlight March 30, 2012 Deadline: March 20, 2012
Contact: Michael Campisi (800) 584-1062 ext. 208 mcampisi@marejournal.com
www.haftekcws.com Haftek CWS’ primary product is a patented concrete washout system that controls, captures, and contains all concrete washout wastewater and material. The service that Haftek CWS offers are safe, responsible, and environmentally conscious alternatives to the old worksite concrete washouts.We utilize a cost effective and enviromentally friendly alternative to concrete washout sites and are on the leading edge of becoming the industry standard in concrete washout removal and recycling.
Protected by US Patents 7118633, 7121288, 7124767.
179 RYERSON AVENUE PATERSON, N.J. 07502 P: 973.942.3131 | F: 973-956-5086 | E-mail: info@haftekcws.com
“Remember, one call to us means many calls to you.”
Call Fowler today to find out how we can make your laundry room more profitable. 800-334-1824 X127
Fowler
The Commercial Laundry Specialists www.fowlercompanies.com
Serving Apartment Communities since 1952 * Commissions - Sales - Service *
GREEN BUILDINGS SPOTLIGHT
SUSTAINABLE DESIGN & CONSTRUCTION MAREjournal.com
Mid Atlantic Real Estate Journal — February 24 - March 15, 2012 — 35
Bringing buildings into the 21st Century
Thurs., March 29, 2012 in Philadelphia, PA
Skanska USA’s Fraser Kadera on Green Retrofits
MGKF participates in Sustainability Symposium
W
hile people tend to focus on the carbon that cars emit, the truth is that most of the carbon dioxide in our atmosphere comes from buildings – more likely old ones, with little in- Fraser Kadera sulation, outdated mechanical systems and single-glazed windows. The Eastern seaboard is home to the bulk of these old buildings in a climate where buildings must work harder to keep occupants comfortable than in other, more temperate population centers. Baltimore already knows the value of green – the Baltimore City Green Building Standards (BCGS) are an innovative effort to protect and restore Baltimore’s water supply, reduce its urban heat island effect, and encourage alternative transportation. These standards largely apply to newly constructed or extensively modified nonresidential or multi-family residential buildings. But there are many old buildings in Baltimore, and building owners should not forget that even simple system upgrades can make a huge difference for the environment and their bottom lines. Old and inefficient buildings can and should be retrofitted to be more energy efficient – not just for environmental reasons but because it makes sound economic sense. According to the United States Green Building Council (USGBC), buildings that feature high performance systems can reduce water usage by 40 percent and can cut energy use in half. The resulting reductions in water and energy bills go directly to the owner’s bottom line. The USGBC estimates owners who “green” their buildings can anticipate an 8-9 percent decrease in operating costs. Baltimore County also offers a tax credit for buildings that attain LEED certification.
Existing buildings already have a “carbon advantage.” The energy required to manufacture their materials and systems and to construct them has already been spent. Even new buildings designed with sustainability in mind fill landfills with the debris of the old buildings they replace. In addition, new buildings consume energy and produce carbon during the fabrication, shipping and construction process. In the U.S., green retrofits have grown from two percent of the total construction market in 2008 to an estimated 30 percent in 2010. At Skanska, we have realized the benefits of retrofitting first hand. Two years ago, we moved into our flagship office at the Empire State Building in New York City, retrofitting our tenant space to achieve LEED Platinum certification, reducing our electricity costs by 57 percent compared to our former office in a standard urban building. The Empire State Building fit-out is projected to save us roughly half a million dollars in electric costs over the life of its 15-year lease. By changing the cost argument from initial costs to lifecycle value, we were able to do what’s good for the environment and what’s good for our business. For those who are unable to commit to a full retrofit, there are ways to make changes in relatively easy and inexpensive ways. As we all know, water conservation is an issue in Baltimore. Even simple green retrofits and installations can do a lot to save water. Dualflush toilets, low-flow fixtures, and waterless urinals are all relatively easy and inexpensive steps that cut down significantly on water usage. You don’t need a new building to realize the benefits of sustainability. Most major building systems have a useful life of 25 to 35 years. When systems are about to fail, they need to replaced anyway. This is the time to invest a little
more in thoughtful, cost effective retrofits bringing buildings into the 21st Century for a relatively small incremental cost. Thoughtful “green” renovation makes good business sense. Fraser Kadera, MBA, Certified Business Energy Professional, LEED GA, is a regional executive of integrated solutions for Skanska USA in Rockville, MD. In other Skanska news, Russ Alcorn PE, DBIA has been promoted to senior vice president and national director. In his new role, Alcorn will utilize his 34 years of experience in federal construction to assist in the procurement and execution of Skanska’s federal construction projects across the United States. “Over the past year, Russ has proven to be an invaluable asset, successfully identifying best practices and pursuing opportunities for Skanska,” said Bill Brennan, co-chief operating officer and executive sponsor of the Federal Center of Excellence. “Russ understands how to meet the magnitude of needs federal clients bring to the table, and we look forward to his future contributions.” During the past year, Alcorn served as a vice president helping identify federal pursuits, reviewing federal solicitations, and assisting with proposals and presentations to federal agencies in addition to providing operational support to ongoing projects. Prior to this position, Alcorn worked as an operations manager for Hensel Phelps Construction Co. where he oversaw major federal construction projects. Throughout his long and successful construction career, Alcorn has grown his portfolio to include work on military bases, airports, courthouses, correctional facilities, hospitals, resorts and industrial plants. ■
PHILADELPHIA, PA — Brenda Hustis Gotanda, a partner with Manko, Gold, Katcher & Fox, LLP (MGKF), the environmental, energy and land use law firm based in Bala Cynwyd will be a panelist on Thursday, Brenda Hustis Gotanda March 29 as part of the Sustainability Symposium PA/NJ 2012 at the Franklin Institute in Philadelphia. The program brings together industry, university and community leaders to share best practices, ask challenging questions and provide cutting edge information about sustainability in the Delaware Valley. MGKF is also one of the sponsors of the event. There will be 15 panel discussions running from 8 a.m. – 1 p.m. focusing on energy management systems, community engagement, building retrofits,
starting a sustainable business, electric cars, LEED/Energy Star issues and more. Gotanda is co-chair of the MGKF Sustainability practice and is a LEED Accredited Professional (LEED AP). She represents and counsels clients on a broad range of environmental, energy, land use, and health and safety issues in regulatory compliance, transactional, permitting, and enforcement matters. Her practice includes green building, alternative energy and energy efficiency, sustainability programs, due diligence, brownfield redevelopment, water and waste compliance, spill response, and site remediation. Gotanda serves on the BOD of the Delaware Valley Green Building Council (DVGBC) and is Chair of the Radnor Twp. Environmental Advisory Council (EAC). Gotanda is a founder and director emeritus of the Society of Women Environmental Professionals of Greater Philadelphia (SWEP). ■
BBS Architects & Engineers wins three 2011 Sustainability Awards
The three-story, addition to the Southampton Elementary School in Southampton, NY was among three of BBS Architects & Engineers’ projects to receive School Planning & Management magazine’s 2011 Sustainability & Innovation Awards PATCHOGUE, NY — BBS designed the first LEED-certiArchitects & Engineers won fied public school in NY. three out of ten awards in BBS won the Building as a School Planning & Manage- Teaching Tool category award ment magazine’s 2011 Sustain- for the new Life Sciences Buildability & Innovation Awards ing at the Suffolk County Comprogram. The annual com- munity College in Selden, NY petition recognizes the most and two awards in the Site architecturally and technically Selection & Development catadvanced sustainable design egory for the Mullarkey Hall practices in the United States. renovation at the Long Island BBS is a regional and na- University’s CW Post Camtional designer of sustainable pus in Brookville, NY and educational, institutional and the Southampton Elementary commercial facilities. The firm School in Southampton, NY. ■
36 — February 24 - March 15, 2012 — Green Buildings — Mid
Atlantic Real Estate Journal
www.marejournal.com
SUSTAINABLE DESIGN & CONSTRUCTION New Jersey’s Clean Energy Program “Direct Install” Increases Incentive to 70%
Hutchinson Mechanical Svcs. is the contractor for Burlington, Camden, Ocean, Monmouth & Gloucester
C
HERRY HILL, NJ — Direct Install from New Jersey’s Clean Energy Program, which helps businesses and local governments reduce energy costs by upgrading to energy efficient equip- Ed Hutchinson ment, has been increased to 70% of the total project cost. Created specifically for small to medium-sized facilities with a monthly peak demand of
150 kW or less, Direct Install offers a streamlined process that makes it easy and affordable to replace heating cooling & ventilation (HVAC), lighting and other outdated operational equipment with energy-efficient alternatives. The 70% incentive dramatically improves payback on the project. Hutchinson Mechanical Services, a third-generation family business is the participating contractor for Burlington, Camden, Ocean, Monmouth and Gloucester Counties. Hutchinson was selected through a competitive bidding process and specially trained and equipped
to provide turn-key, start-to-finish program services, including helping businesses complete the application/agreement, performing the energy assessment to identify eligible equipment replacements, and replacing the equipment. Hutchinson provides prospective customers with a FREE energy assessment to identify eligible equipment, including lighting upgrades, heating, cooling & ventilation (HVAC), refrigeration, motors, natural gas equipment and variable frequency drives. “For more than 62 years, we’ve been in the business of
Reduce your energy costs with Hutchinson! Direct Install now pays 70% of the cost to replace your outdated lighting and HVAC equipment.
Contact us today to learn how we can help you reduce energy costs and save!
dicoordinator@hutchbiz.com 888-777-4501 George Hutchinson III, LMP. Plumbing License Number 6311.
providing comfort and savings. Direct Install’s turn-key solution makes it easy for businesses and local governments to become more energy efficient, cut expenses and go green,” said Ed Hutchinson, president, Hutchinson Mechanical Services. “The biggest barrier is for customers to actually believe the incentives are real. We’ve helped businesses in various industries as well as local municipalities upgrade to energy efficient equipment at a fraction of the cost.” Hutchinson is a third-generation family business and trades as Hutchinson Plumb-
Energy Management Solutions Web Access Monitoring Heating | Ventilation | Air Conditioning Plumbing Services | Lighting Upgrades Energy Assessments Building Modeling and Benchmarking Solar Technologies
Your Total Energy Experts ®
hutchbiz.com
ing Heating Cooling, Hutchinson Mechanical Services, and Hutchinson Energy Services and has specialized in commercial and residential mechanical and energy services since 1948. Hutchinson’s technicians are factory trained, NATE certified and are on-call 24/7 365 days a year. ■
GSH Group awarded contract to deliver energy management services PINE BROOK, NJ — GSH Group announced that it will be providing its energy management services to Bergman Real Estate Group’s Jefferson Plaza properties located at 100 and 110 South Jefferson Road in Whippany, New Jersey. As part of its energy management services contract, GSH developed a 3D building simulation model and utility analysis to determine the most cost-effective methods for enhancing efficiency at Jefferson Plaza. GSH is undertaking several projects in the facilities including mechanical upgrades and the installation of a Trend building automation system. Additionally, GSH will perform ongoing monitoring and adjustments in the properties to ensure continued efficiency after project installation. All projects are carried out by GSH’s in-house mechanical team and the ongoing service is provided through the GSH energy team. GSH also provides energy management services to Bergman’s Woodbridge Towers at 555 Rte.One South in Iselin. GSH has been delivering its program to Woodbridge Towers since 2008 and has improved energy efficiency by 30% in the 85,000 s/f facility. The building received the EPA’s Energy Star label and was honored at BOMA NJ’s energy awards in 2010. Steven Bergman, VP & COO of Bergman said, “Because of the tremendous success GSH achieved reducing energy consumption in our Woodbridge Towers property, we have decided to roll out their energy program at our Jefferson Plaza office complex. We have confidence in GSH’s energy program and believe they will achieve similar results with these two buildings.” ■
Mid Atlantic Real Estate Journal — Green Buildings — February 24 - March 15, 2012 — 37
www.marejournal.com
SUSTAINABLE DESIGN & CONSTRUCTION Analyzing multiple options in replacing air-cooled chillers
M&E Engineers performs LEED assessments on Munich ReAmerica’s corporate campus
P
RINCETON, NJ — M&E Engineers performed a LEED assessment on Munich ReAmerica’s four building headquarters. M&E Engineers completed a comprehensive study to analyze multiple options in replacing air-cooled chillers with traditional air-cooled, evaporative-cooled or watercooled options. This included the creation of an energy model and cost analysis to analyze payback of each option. Part-load run data was generated by energy modeling software to compare various chillers. M&E Engineers completed construction documents for the replacement of the air-cooled chillers, and incorporated structural support changes, piping modifications and an update of the building control system. We also evaluated bids, provided construction administration, and performed commissioning services. Munich ReAmerica received a first place award from the New Jersey Chapter of the Building Owners & Managers Association (BOMA) in the Energy Reduction Category for New Jersey Office Buildings in 2010 for lowering energy consumption at its four building USA headquarters in Princeton, NJ, by 35 % from the previous year. ■
The Falcon Group adds Brzezowski to energy division The Falcon Group, Engineering, Architecture and Energy Consulting is proud to announce a new addition to our energy division, Edward H. Brzezowski, P.E., LEED AP, as VP of Energy Services. Brzezowski is nationally recognized as an executive level professional mechanical engineer with 35 years experience. He is a recipient of State and National Awards for Engineering Excellence. Brzezowski engineered the first Net Zero Electric Commercial Building in the United States, and is an inventor with current patent pending for building diagnostic and commissioning applications. In addition, Brzezowski is an author to Professional Trade publications and has presented and spoken at numerous conferences and workshops across the region on sustainable, energy efficient and renewable energy technologies.■
Air-Cooled Chiller Before
Air-Cooled Chiller After
38 — February 24 - March 15, 2012 — Green Buildings — Mid
Atlantic Real Estate Journal
www.marejournal.com
SUSTAINABLE DESIGN & CONSTRUCTION The launching site for the NJMC Eco-Tours on the Hackensack River
DMR Architects completes Construction on NJ Meadowlands Commission’s River Barge Park
H
A S B R O U C K HEIGHTS, NJ — DMR Architects, a full-service architectural firm dedicated to progressive, innovative and sustainable, high-quality design, recently completed architectural and construction administration services at New Jersey Meadowlands Commission’s (NJMC) River Barge Park in Carlstadt, New Jersey. River Bark Park is a park and marina located on approximately five acres on the shore of the Hackensack River. DMR Architects completed
Engineering Success BUILDING SYSTEMS ENERGY & SUSTAINABILITY ENVIRONMENTAL GEOTECHNICAL MARINE PUBLIC ENGINEERING REGULATORY COMPLIANCE SITE DEVELOPMENT STRUCTURAL WASTE MANAGEMENT WATER RESOURCES
Bsg B
IRDSALL SERVICES
GROUP
ENGINEERS & CONSULTANTS 2100 Hwy. 35, Sea Girt, NJ 08750 (888) 335.2744 | www.birdsall.com
architectural and construction administration services for the site’s three buildings, the Winter Boat Storage Building, the Canoe Storage Building and the Educational Pavilion. The building designs refer to the early 20th century river barges that had been on the site. The completion of the project at River Barge Park fulfilled a long-term goal of the Meadowlands Commission to preserve open space and provide public access to the Hackensack River for recreational and environmental education purposes. The site contains three buildings which will be utilized for the storage of the NJMC boat fleet, crew shells, canoes and kayaks, a sub-station for the NJ State Marine Police, and an open-air park Educational pavilion structure. The park provides parking for cars and boat trailers, as well as racks for bicyclists, open landscaped areas for outdoor recreation and a shore side promenade for viewing of the river. River Barge Park will also be the launching site for the NJMC Eco-Tours on the Hackensack River. In addition, River Barge Park includes a waterfront promenade, picnic areas, and educational signage about the natural and historic aspects of the park. The park and buildings were designed to LEED (Leadership in Energy Efficiency and Design) guidelines and green features include, salvaging wood from the river barges to construct the Educational Pavilion structure, soil and sediment erosion control, water efficient landscaping and plumbing fixtures, energy efficient HVAC systems and maximization of natural daylight. ■
Mid Atlantic Real Estate Journal — Green Buildings — February 24 - March 15, 2012 — 39
www.marejournal.com
One Bryant Park, New York, NY LEED© Platinum Certified
PA Convention Center Expansion Philadelphia, PA, LEED© Gold Certified
1 World Trade Center, New York, NY Pursuing LEED© Gold
U.S. FDA Building 66, White Oak, MD LEED© Gold Certified
CityCenter, Las Vegas, NV Six LEED© Gold Certifications
Tishman is the Leader in Green Building We are proud to have completed, or are building, more than
50 million square feet of sustainable projects. Tishman Construction, an AECOM Company, is committed to protecting and preserving the natural environment through reducing the impact of our business operations and delivering the best possible solutions to our clients.
www.tishmanconstruction.com
40 — February 24 - March 15, 2012 — Green Buildings — Mid
Atlantic Real Estate Journal
www.marejournal.com
U. S. Green Building Council, NJ Chapter Letter from the Executive Director Dear Friends and Colleagues,
BOARD OF DIRECTORS CHAIR Anastasia Harrison, AIA, LEED AP Gannett Fleming, Inc. VICE CHAIR Wayne D. DeFeo, LEED AP DeFeo Associates TREASURER Ed Seliga Advanced Solar Products, Inc. SECRETARY RJ Donnelly, LEED AP Donnelly Industries, Inc. PAST CHAIR William Amann, P.E., DCEP, LEED AP M & E Engineers, Inc DIRECTORS David Cardella Cardella Waste Services Zach Gallagher, P.E., LEED AP Alliance Environmental, LLC Bill Gates, LEED AP BD&C Hunt Construction Anthony Marano Marano Group, Inc. Brad Miller, P.E., P.P. NJ Meadowlands Comission Joe Porrovecchio, LEED AP, CRM Carbon-Key, LLC
FLORENCE BLOCK
After years of development, a new tool is on the way to help provide clear green building guidance to lawmakers, regulators, green building advocates, and imitators alike; the International Green Construction Code (“IGCC”). Now, a new set of standards intended to facilitate and accelerate the construction of green buildings in the United States has been established with the help of some of our partner groups, the International Code Council (“ICC”), the American Society of Heating, Refrigerating and Air Conditioning Engineers (“ASHRAE”), and the Illuminating Engineering Society of North America (“IES”).
The IGCC is a product of two national movements to create enforceable green building codes in the U.S.: one, by the ICC and ASHRAE, which have been at the forefront of trying to develop an industry standard with green building for decades, and one by the US Green Building Council which has been involved in a similar effort centered around the Leadership in Energy and Environmental Design (“LEED”) rating system. USGBC-NJ Chapter’s advocacy efforts in Trenton were always challenged by a lack of uniformity when it came to defining a green building or a “high performance” building as it is referred to in legislation. Green building policies in New Jersey vary from town to town and from city to city. Even legislation setting green building policy varies from bill to bill. For this reason, the USGBC-NJ’s advocacy committee has been working with the Department of Community Affairs and lawmakers in Trenton to adopt the IGCC in the Garden State. USGBC-NJ’s ultimate goal in advocating New Jersey to adopt the IGCC is that it will provide a uniform set of green building guidelines in a streamlined, systematic manner that also fits the individual needs of a city or municipality. There is no doubt that we definitely need the IGCC in New Jersey to provide an objective voice to defining what is and what isn’t considered a legitimate green building practice. Just like with the LEED rating systems, the IGCC code is meant to bring greater inclusivity and flexibility to green building. Stay tuned for more developments and updates and feel free to reach out to our staff.
Florence Block LEED Green Associate Executive Director U.S. Green Building Council NJ
Paul Qvale, LEED AP Hillmann Group Lisa San Filippo, AIA, LEED AP, BD&C Turner Construction Co. Faith Taylor Wyndham Worldwide Andrew Topinka, CPMR Technical Group Services, Inc Ed Walsh, P.E. The Walsh Company Gregg Woodruff, PP, AICP, LEED AP, BD&C Langan Engineering & Environmental Services, Inc. EXECUTIVE DIRECTOR Florence Block LEED Green Associate
Chapter Events 2/29/12 – Fundamentals of Sustainability andLEED/LEED Green Associate Exam Prep 8am – 5 pm, Piscataway, NJ. 3/20/12 – Meet the Decision Maker Breakfast 8:30 – 10:30 am, Princeton, NJ For details on all USGBC-NJ events, visit www.usgbcNJ.org
Number of New Jersey chapter members:
1058
GENERAL COUNSEL Harry E. McLellan, Esq, LEED Green Associate McLellan & Associates, LLC
Number of USGBC member Companies in NJ:
349
Number of LEED Accredited Professionals in NJ:
3163
CHAPTER COORDINATOR Mary Ellen Garrigus
Number of LEED registered projects in NJ:
411
Number of LEED certified projects in NJ:
154
www.usgbcnj.org
www.marejournal.com
Mid Atlantic Real Estate Journal â&#x20AC;&#x201D; Green Buildings â&#x20AC;&#x201D; February 24 - March 15, 2012 â&#x20AC;&#x201D; 41
Sustainable Design & Construction May we show you something in
green?
An early pioneer of sustainable development, Liberty Property Trust KHOSV EXVLQHVVHV EHQHŰW IURP WKH UHGXFHG RSHUDWLQJ FRVWV DQG LQFUHDVHG SURGXFWLYLW\ WKDW KLJK SHUIRUPDQFH JUHHQ EXLOGLQJV SURYLGH :LWK PRUH WKDQ PLOOLRQ 6) RI /(('® DQG (QHUJ\ 6WDU &HUWLŰHG VSDFH H[LVWLQJ RU XQGHU FRQWUXFWLRQ LQ WKH /HKLJK 9DOOH\ &HQWUDO 3HQQV\OYDQLD PDUNHW /LEHUW\ 3URSHUW\ 7UXVW FDQ PHHW \RXU QHHGV IRU D VXVWDLQDEOH GLVWULEXWLRQ IDFLOLW\ )RU PRUH LQIRUPDWLRQ SOHDVH FDOO , or visit us online at ZZZ OLEHUW\SURSHUW\ FRP
Enhancing Peopleâ&#x20AC;&#x2122;s Lives through extraordinary work environments. 5NITED 3TATES 5NITED +INGDOM s .93% ,29 www.libertyproperty.com
42— February 24 - March 15, 2012 — Mid
Atlantic Real Estate Journal
www.marejournal.com
COMMERCIAL REAL ESTATE ORGANIZATIONS’
EVENTS CALENDAR FEBRUARY 23-24 – IREM Event: Tri-State Conference & Expo Location: Borgata Hotel & Casino Address/City: Atlantic City, NJ www.irem1.org FEBRUARY 28 – CIANJ Event: Financial Decision Makers Roundtable Time: 8:00 AM – 10:00 AM Location: Hilton Hasbrouck Heights Address/City: 650 Terrace Ave., Hasbrouck Heights, NJ P: 201-368-2100 E: nharencak@cianj.org www.cianj.org FEBRUARY 28 – CREW PITTSBURGH Event: CREW Network: Your Business Network Time: 11:30 AM – 1:30 PM Location: The Rivers Club Address/City: 301 Grant St., Pittsburgh, PA Cost: $45 Members, Nonmembers & Guests E: admin@crewpittsburgh.org www.crewpittsburgh.org FEBRUARY 28 – TRISTATE Event: Cost Segregation for the Commercial Broker Time: 8:30 AM Location: New Jersey Convention & Exposition Center Address/City: 97 Sunfield Ave., Edison, NJ Cost: Members Free/$25 Nonmembers P: 610-238-9070 E: eilliano@tristaterca. com www.tristaterca.com FEBRUARY 29 – CORENET Event: Mid-Atlantic Orientation: Getting the Most Out of Your CoreNet Membership Time: 7:30 AM – 9:00 AM Location: The Tower Club Address/City: 8000 Towers Crescent Dr., Vienna, VA 22182 P: 571-209-7803 E: midatlantic@corenetglobal.org www.corenetglobal.org FEBRUARY 29 – CREW LEHIGH VALLEY Event: Member Event: Marc Holliday of SL Green Realty Corp. Time: 3:10 PM Location: Lehigh University’s Goodman Center Lobby P: 610-758-4786 E: sds@lehigh.edu www.crewlehighvalley.org FEBRUARY 29 – SIOR PHILADELPHIA Event: Chapter Meeting Location: Ruth’s Chris Steakhouse Address/City: King of Prussia, PA www.siorphila.com FEBRUARY 29 – USGBC NJ Event: Fundamentals of Sustainability & LEED Green Associate Exam Prep Time: 8:00 AM – 5:00 PM Location: American Standard Brands Training Cntr. Address/City: 1 Centennial Ave., Piscataway, NJ www.usgbcnj.org
MARCH 1 – NAIOP PITTSBURGH Event: Annual Awards Banquet Time: 5:15 PM Location: David Lawrence Convention Center Address/City: 1000 Fort Duquesne Blvd., Pittsburgh, PA Cost: $125 Members $150 Nonmembers P: 412-928-8303 www.naioppittsburgh.com MARCH 1 – ULI PHILADELPHIA Event: Transformative Regional Game Changers-Let’s Dare to Dream (and Evaluate) Time: 8:15 AM – 10:30 AM Location: The Union League Address/City: 140 S. Broad St., Philadelphia, PA Cost: $65 Members $90 Nonmembers P: 800-321-5011 www.philadelphia.uli.org MARCH 6 – AIA PHILADELPHIA Event: “Building Philadelphia: Architecture, History & Politics” 10-Part Lecture Series Time: 6:00 PM Location: Center for Architecture Address/City: 1218 Arch St., Philadelphia, PA Cost: $150 Members $200 General Public www.aiaphiladelphia.org MARCH 7 – NAIOP NJ Event: Public Policy Symposium Time: 7:45 AM – 11:00 AM Location: East Brunswick Hilton Cost: $130 Members $135 Member’s Colleagues www.naiopnj.org MARCH 7 – POA NJ Event: Money Saving Roundtable Discussions Time: 6:30 PM Location: Wilshire Grand Hotel Address/City: 350 Pleasant Valley Way, W. Orange, NJ Cost: Members Free/$35 Nonmembers P: 732-780-1966 E: info@poanj.org www.poanj.org MARCH 8 – ABC EPA Event: Intro to ABC Time: 8:30 AM Location: East Norriton Office Address/City: 430 W. Germantown Pike, East Norriton, PA P: 610-279-6666 www.abceastpa.org MARCH 8 – IREM 101 & IREM 3 Event: Create Your Brand of Personalized Service Time: 1:00 PM – 3:30 PM Location: Stonegate @ St. Stephen Address/City: 5101 Stonegate Dr, Pennsauken, NJ Cost: $25 Members $35 Nonmembers P: 856-829-8939 www.irem101.org/www.irem3.org MARCH 8 – NJAA Event: Socializing Your Community – Social Media Time: 9:00 AM – 12:00 PM Location: NJAA Headquarters
Address/City: 104 Interchange Plaza, Suite 201, Monroe Township, NJ Cost: Members Free/$75 Nonmembers E: casey@njaa.com www.njaa.com MARCH 11-15 – MBA NJ Event: 29th Annual Regional MBA Conference Time: 9:00 AM – 1:00 PM Location: Trump Taj Mahl Address/City: Atlantic City, NJ P: 732-596-1619 E: info@mbanj.co9m www.mbanj.com MARCH 13 – ABC NJ Event: Labor & Employment Seminar Time: 8:00 AM Location: Four Seasons Hotel Address/City: Philadelphia, PA E: lslomka@njpsi.com www.abcnjc.org MARCH 13 – CREW PHILADELPHIA Event: Managing for Success in the Multigenerational Workplace Time: 9:00 AM – 12:30 PM Location: St. Joe’s University Address/City: 5600 City Ave., Philadelphia, PA www.crewphiladelphia.org MARCH 14 – CIRC DE Event: Membership Meeting Time: 11:30 AM – 1:30 PM Location: Clarion Hotel – The Belle Address/City: 1620 N. DuPont Hwy. Cost: $30 Members $40 Nonmembers & Guests P: 302-633-1705 E: janet@circdelaware.org www.circdelaware.org MARCH 14 – SMPS PITTSBURGH Event: Luncheon Program/Marcellus Time: 11:30 AM – 1:30 PM Location: The Rivers Club Address/City: 301 Grant St., Pittsburgh, PA Cost: $40 Members $65 Nonmembers www.smpspittsburgh.org MARCH 21 – ABC EPA Event: Find Networking Gold with ABC Time: 5:00 PM Location: Barnaby’s of America Address/City: 15 S. High St., West Chester, PA Cost: $50 per Person P: 610-279-6666 www.abceastpa.org MARCH 22 – NAIOP PITTSBURGH Event: Chapter Meeting Time: 7:30 AM Location: Omni William Penn Hotel Cost: Members Free/$40 Nonmembers P: 412-928-8363 www.naioppittsburgh.com MARCH 22 – NAWBO DE Event: Power of Partnership Networking Time: 5:30 PM – 7:30 PM Location: Legislative Hall Address/City: Dover, DE E: info@nawbodelaware.org www.nawbodelaware.org
Mid Atlantic Real Estate Journal — February 24 - March 15, 2012 — 43
www.marejournal.com
MID ATLANTIC
BUSINESS CARD SERVICE DIRECTORY CONSULTING
COMMERCIAL BANK
JANITORIAL SERVICES Jamar Henry Owner 2207 Concord Pike #274 Wilmington, DE 19803
Bruce Coin brucecoin.com
302-943-8529 bruce@brucecoin.com•(856) 906-8210
ELECTRICAL CONTRACTOR
JamarH@delmarpajanitorialservices.com www.delmarpajanitorialservices.com
ENVIRONMENTAL
SNOW & ICE SERVICES
ENVIRONMENTAL SYSTEMS
Phone: 732.360.9050 Fax: 732.360.0469 www.lunarelectric.com Snow & Ice Solutions
P.O. Box 1181, Pt. Pleasant, N.J. 732-892-8707
™
EXPERTS IN ENVIRONMENTAL REMEDIATION
The Mark of Excellence in Zero Tolerance Snow and Ice Management
Groundwater Investigation & Remediation Environmental Phase I & II Audits Oil Tank Testing/Removal Indoor Air Quality/Mold Testing
Certified Snow Professionals On Staff
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
• Zero Tolerance • Liquid Anti-Icing • Risk Management – • Certified Weather Reports Reducing Your Liability Exposure
877-DE-ICE-IT
NJDEP Permits (Air, Water, Wetlands) Brownfields Development Professional Testimony Statewide Service Geoprobe Services ISRA/ECRA
WWW.DEPENVIROSYSTEMS.COM
LAUNDRY SERVICES
INTERIOR PLANTING & DESIGN
431405_Cenova.indd 1
7/17/09 11:26:51 AM
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
P.O. Box 73 • Haworth, NJ 07641 201.387.7997 • 201.264.3476 • Fax 201.387.7995 gmacbeth@fdsnnj.com X www.foliagedesign.com
Fowler www.fowlercompanies.com The Commercial Laundry Specialists
Serving apartment communities since 1952 * Commissions - Sales - Service
COMMERCIAL REAL ESTATE
281451GMacBethBC.indd 1
SNOW SERVICES
8/11/08 12:24:30 PM
RETAIL
Serving all of the Northeast and Mid-Atlantic States with
SNOW AND ICE MANAGEMENT
Art Campbell, President art@acampbell.net Serving the Greater Harrisburg Area
Ph: (717) 737-6161
■
• Certified Snow Experts • Over 30 Years Experience • Weather Forecasts and Alerts
F ax: (7 17 ) 7 37 -9640
Make your business card work as hard as you do
• Risk Management • 24/7 Call Center • Fully Insured • State-of-the-Art Equipment
Toll Free 888-220-2570
SITE ENGINEERING e info for mor ristman da Ch Call Lin /800-584-1062 298 1-871-5
78
If you do not have a business card readily available, our art department will design one for you at no extra charge!
www.landmarkjcm.com 302.323.9377 Ted C. Williams, P.E. New Castle, DE Headquarters|302.323.9377 Dover, DE|302.734.9597 Georgetown, DE|302.854.9138 Wayne, PA|610.687.1976 Havre de Grace, MD|410.939.2144
Principal, Business Development LandmarkJCM 100 West Commons Blvd., Suite 301 New Castle, DE 19720 tedw@landmarkjcm.com
44A — February 24 - March 15, 2012 — Owners, Developers & Managers — Mid
Atlantic Real Estate Journal
www.marejournal.com
Mid Atlantic REAL ESTATE JOURNAL
BILLBOARD
CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS
NORTHEASTERN PENNA. SALE & LEASE OFFERINGS
•
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.
This space is
•
available
•
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.
800-584-1062
ROOFING BUSINESS OPPORTUNITY
State of the Art Architectural Coatings needs Dealers/Installers/Sales/Representatives Roofing/Painting/Construction Sales Expierence Will Help in the NorthEast States. Military Welcome.
Send resume to Louis at: Louis meyer@hvcoatings.com
Scranton, PA
Contact: 845.398.1778
570-207-4100
or visit www.hvcoatings.com for more info
info@hinerfeldcommercial.com
HIGH VISIBILITY
Direct Mailing to over 25,000 Readers Billboard Advertising Pays Off!! Name ____________________________________________________________________ Company _________________________________________________________________ Address __________________________________________________________________ City ________________________________State _______________Zip_______________ Phone ______________________________Fax __________________________________ Single Block (2 3/8 x 3 5/8”) - Once $95 - Twice $160 5 issues - $300 Prepay - $250
WANTED REAL ESTATE AGENTS REAL ESTATE SALES
COMMERCIAL REAL ESTATE PA, NJ, DE Investment & Industrial Sales Exclusive Territories: PA, NJ, DEL Real Estate License Required Send Resume to: RNatow@PrestigeGroup.com
Double Block (5 x 3 5/8”) - Once $160 - Twice $280 5 issues - $575 Prepay - $475
Richard Natow, President 610-902-3900 x 111 Commercial Real Estate
Other Rates Available Please call Linda Christman for more info at 1-800-584-1062
Single Block 2 3/8 x 3 5/8”
E L B A L I AVA
Call us @ 800-584-1062
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 —
Double Block 5 x 3 5/8”
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
www.marejournal.com
Mid Atlantic Real Estate Journal — February 24 - March 15, 2012 — Inside Back Cover
DOMINANCE. “...most influential, having a commanding position.” (Webster’s)
New Jersey’s dominant brokerage firm specializing in the sale of multi-family, retail, and commercial investment properties for private investors, REITS, and other institutional clients.
INVESTMENT REAL ESTATE 2 West Northfield Road, Livingston, NJ 07039 Tel. (973) 994-4500 Fax (973) 994-9752 Visit us on the web at: www.gebroehammer.com
Email: info@gebroehammer.com
Back Cover — February 24 - March 15, 2012 — Mid
Atlantic Real Estate Journal
www.marejournal.com
RT 61 DISTRIBUTION CENTER 184 TUCKERTON ROAD, READING, PA
115,000 SF - 32’ Clear Ceiling Height - 18 Docks Distribution or Manufacturing
Meeting Tenant’s Needs Immediately, Efficiently and Economically
Strategically located: Rte 61 & Rte 222 Interchange
Excellent Access to I-76, I-176 & I-78
In the Heart of desirable Muhlenberg Twp. Industrial Area - Best Location in Berks County
Public Transportation to Site
30 Minutes to Lehigh Valley
3000 Amp 3-Phase 480 V
35,000 lb Dock Levelers
100 % Sprinkler/ T5 Lighting
Rail Available
3+ Acre Fenced, Lit and Paved Truck Lot
Also Available : 36,000 SF - 11 Docks 21’ Clear Ceiling Height
CONTACT : STEVE WILLEMS EXCLUSIVE AGENT Office 610-779-1400 Direct 610-370-8506
Owned and Professionally Managed by: