5-25-12

ethesda, Md — the donohoe Companies, Inc. announced the closing

of a $55 million construction loan to build “the Gallery of Bethesda,” a luxury high-rise apartment building located at 4800 auburn ave.

the project is a partnership between the donohoe Compa-nies and MPM Investments. the $55 million in construc-tion financing is funded by aXa equitable. the Gallery of Bethesda will be a 250,000 s/f, 17-story residential tower containing 234 units, a ¼ acre public plaza and 4,600 s/f of retail.

amenities will include a rooftop pool, sundeck and club-room, a resident lounge, fitness room and coffee bar. the Gal-

The Gallery of Bethesda

Financing from AXA Equitable to build Gallery of Bethesda

Donohoe closes on $55 millionin construction financing

Section B

B

51 Haddonfield Road in Cherry Hill, New Jersey

Time Equities in partnership with Bergman RE Group purchases 100,000 s/f office building

Cherry hIll, NJ — time equities, Inc. (teI) in a joint ven-ture w i th B e r g m a n r e a l e s -tate Group r e c e n t l y purchased 51 haddon-field road, a 100,000 s/f

ISSUE HIGHLIGHTS

Volume 24 Issue 10May 25 - June 7, 2012

21A

www.marejournal.com

Directory

Upcoming SpotlightAppraisal Institutes

office building for $3.4 mil-lion.

“through purchase of a non-performing note, we were able to restructure the deal alongside Bergman real estate Group, and enter at a basis that we feel will allow us to aggressively price lease rates. While Cherry hill has suffered from the same mal-aise as the broader economy,

REAL ESTATE JOURNALthe most comprehensive source for commercial real estate news

our long term approach to ownership gave us comfort in investing in a market that others were exiting,” said aaron Medeiros, director of acquisitions at time equi-ties. “We hope to find other opportunities to recapitalize groups who have the ability to restructure their capital stack, but lack the necessary liquidity that is required for

these types of transactions.”51 haddonfield road offers

office space ranging from 1,200 s/f to 22,000 s/f avail-able for immediate lease. Many of the 1,200 s/f to 3,000 s/f spaces are pre-built and move in ready for tenants. the brokerage team of Grubb & ellis senior vice president anne Klein and associate vice president Brian sherlock will oversee leasing for the property.

“We are excited to form this relationship with time equi-ties, which is well regarded in the commercial real estate industry and has a proven track record of creating value for turnaround properties such as 51 haddonfield,” said Michael Bergman, president and CeO for Bergman real estate Group. “Our partner-ship is well capitalized and has the experience needed to successfully reposition the property through enhance-ments and an aggressive leas-ing campaign.” n

Bayshore: The green solution

Industrial RE &Distribution Centers

Auction News/Directory ................ 4-5AShopping Centers .........................7-17AGreen Buildings ..........................19-24AOwners, Developers & Managers ....25-38ACalendar of Events ...............................40AIndustrial Distribution Centers .......Section B

lery of Bethesda is the first of three buildings that donohoe is developing in Bethesda. the three are collectively known as Woodmont Central, and consist of the Gallery of Bethesda; a second residential building to be known as 4850 rugby; and

a six-story office building, cur-rently pre-leasing, called 8280 Wisconsin avenue. at comple-tion, the project will measure 580,000 s/f

demolition has been com-pleted on site, and donohoe Construction Company has

commenced work as general contractor. Miller and long Concrete Construction will be the concrete contractor. Van-tage Management, an affiliate of Mid-City Corporation, will be the management and leasing agent. n

Michael Bergman

51 Haddonfield Road

http://www.marejournal.com

Inside Cover A — May 25 - June 7, 2012 — Mid Atlantic Real Estate Journal www.marejournal.com

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www.marejournal.com Mid AtlanticRealEstateJournal—May25-June7,2012—1A

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2A—May25-June7,2012—Mid AtlanticRealEstateJournal www.marejournal.com

Mid AtlanticReal Estate Journal

hen investment prop-erty is sold, capital gains taxes must

generally be paid on any gain realized. With a §1031 Ex-change, however, investors are allowed by the IRS to postpone paying these taxes. This sub-section of the Tax Code states that “no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business, or for investment.” In addition to maintaining greater net profits for reinvestment, investors can use a §1031 Exchange to shift an investment from one geo-graphic region to another, trade older properties for newer ones to avoid deferred maintenance expenses and diversify a real estate portfolio.

The IRS stipulates a number of requirements for a valid §1031 Exchange. Property own-ers must trade one or more relinquished properties for one or more replacement properties of “like-kind.” The replacement property cannot have been acquired for immediate resale, nor can it be the taxpayer’s per-sonal residence. However, it is the facts and circumstances of each transaction that determine whether a property is held for investment, rather than for personal use. Many have rec-ommended that – to be on the safe side – taxpayers should hold the replacement property for at least two years before converting it to personal use, and should make significant efforts during that time to use it for investment purposes.

In the recent case of Reesink vs. C.I.R., T.C. Memo 2012-118, No. 2475-10 (April 23, 2012), the U.S. Tax Court has taken steps to better distinguish the holding purpose for residential property. In this case, the Court considered whether a single-family house was acquired by the taxpayers as a personal residence or as an investment.

In 2005, Mr. and Mrs. Re-esink sold a 50 percent TIC interest in a San Francisco apartment building for the gross sales price of $700,000. They used the net proceeds a little over one month later to ac-quire a single-family house and a vacant lot in Guerneville, CA. Their mortgage loan application

Mid Atlantic Real estate JouRnalPublisher.............................................................................Linda. ChristmanCo-Publisher..........................................................................Joe. ChristmanSection Publisher...............................................................Michael. CampisiSection Publisher.................................................................Elaine. FanningSenior Editor/Graphic Artist................................................. Karen. VachonProduction Assistant......................................................... Rachel. RugmanOffice Manager....................................................................Joanne. GavazaEditorial Consultant.............................................................. Ben.SummersGuest Columnist.................................................Lee.David.Medinets,.Esq.

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W

Lee David Medinets, Esq.

Residential Propertyand §1031 Exchanges

indicated that the property was purchased as an investment. “For Rent” signs were posted on the property. Flyers were distributed throughout Guern-eville advertising the property for rent. Two prospective ten-ants examined the property to consider leasing it, but each decided that they could not af-ford the asking price of $3,000 per month. The taxpayers never lowered their asking price, and the property was never advertised for rent in any local newspaper. The court did not say if the property was ever listed for rent with a real estate broker, although the taxpayers consulted with one.

After failing to rent the Guerneville property for some time, Mr. Reesink wanted to sell the couple’s home in San Fran-cisco because they could not afford the carrying costs of all the real estate that they owned. Mrs. Reesink resisted this idea because she liked living in San Francisco and because she did not want to take their son out of his current high school. Nev-ertheless, the couple listed their home in San Francisco in April, 2006, about six months after they acquired the Guerneville property. At that time, they con-sidered either moving to Guern-eville or moving in with Mr. Reesink’s sister. Two months later, when their San Francisco home was sold, they elected to move to Guerneville. That was almost eight months after they acquired the Guerneville property. Until they moved in, they had never stayed in the Guerneville property or used it for any personal purpose.

On these facts, the court found that the Reesinks’ prin-cipal intention in acquiring the Guerneville property was for in-vestment, not personal use. The court stated that perhaps the

strongest evidence of the Re-esinks’ investment intent came from Mr. Reesink’s estranged brother, a witness for the IRS, who testified that Mr. Reesink told him on several occasions that they planned to move to the Guerneville property af-ter their son graduated from high school. That would have been significantly more than two years after they acquired the Guerneville property. This testimony gave weight to the position of the taxpayers that they had changed their minds because of financial difficulties when they decided to move to Guerneville in 2006.

In concluding that the tax-payers had satisfied their burden of proving that they purchased the Guerneville property principally for invest-ment, the court distinguished this case from Goolsby v. Com-missioner, T.C. Memo. 2010-64. In Goolsby, the Tax Court found that the taxpayers did not have a bona fide investment intention when they acquired the replacement property. In Reesink, the court pointed out that in Goolsby (a) the taxpay-ers made the purchase of the re-placement property contingent on the sale of their home; (b) they sought advice concerning when they could move into the replacement property; (c) their rental efforts consisted solely of placing one advertisement in a local newspaper; (d) they began refinishing the basement of the replacement property within two weeks of acquiring it; and (e) they moved into the replacement property within two months of acquiring it.

Goolsby and Reesink help to define the burden of proof that taxpayers will be expected to meet if they move into a replacement property before


continuedonpage3A

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IREM ................................37ALandmarkCommercial Realty .............6BLundt Combustion Sys. ...30AM. Miller & Son ..................3AMGKF, LLP ......................10AMarcus & MillichapTaylor Zang .......................10AMax Spann RE Auction ......8BMeridian Capital Group ....3ANAI KeystoneCommercial & Industrial ..16BNAI Summit .....................13BNAIOP ..............................12BNJ SmartStartBuildings ......................IBC-BNJCCT ..............................38ANorthMarq ..........................2APennCap Properties ...........9BPoskanzer SkottArchitects ..........................35ARay Angelini, Inc. .............20ARCX Building Diagnostics ..22ASHAH Electric & Builder 28ASheldon Gross Realty .........3BTarget BuildingConstruction ..................... 11ATHESING .........................34ATransportation Resource Grp. 15ATranzon Auction .................4ATri-County ..................... BC-AVanguard EnergyPartners ............................11BVantage .......................28, 35AWastewater Management .10BWhitesell ...........................26AWhitestone Associates .....15A




Mid AtlAntic ReAl estAte JouRnAl

Hunters Glen1,124 Units

$49,000,000Delran, NJ

Steward’s Crossing241 Units

$27,200,000Princeton, NJ

Woods at Narraticon150 Units

$16,950,000Deptford, NJ

West Creek Village 306 Units

$16,000,000Elkton, MD

Recent Financings Arranged By Meridian Capital Group

They wrote the policy.

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M. MILLER & SONPublic Adjusters

Since 1960

1211 Liberty Ave., Hillside, NJ 07205 � Tel: [email protected] � www.mmillerson.com

IVINGSTON, NJ — As hundreds of New Jersey’s HUD, income- and age-re-

stricted multi-family proper-ties continue to operate in the face o f e s c a l a t i n g non-perform-ing debt and exponentially accumulating interest, penalties and other fees, the brokerage specialists at Gebroe-Hammer Associates are negotiating trades of these over-leveraged properties to the satisfaction of all involved par-ties. From the sellers, buyers and tenants, to the lending in-stitutions and state and federal government agencies, the firm is gaining sales approvals and accolades at the same time.

“There are hundreds of HUD properties in New Jersey. Many cannot or won’t be able to secure refinancing in the wake of grow-ing debt,” said David Jarvis,

OfHUD,income-andage-restrictedproperties

Gebroe-Hammeroffersexpertiseindispositionandacquisition

L

the end of the recommended two-year holding period. The two cases do not yet suggest

a bright line test, but at least they clarify some of the distinc-tions regarding the use of §1031 Exchanges for residential prop-

erties. LeeDavidMedinets,Esq.

isseniorcounselforMadi-son§1031.n

continuedfrompage2AResidentialPropertyand§1031Exchanges...

executive VP, who noted numer-ous properties have expiring rental contracts that are not be-

ing renewed, leaving the government a s w e l l a s the landlords unprepared. “These own-ers are con-t i n u i n g t o operate their

properties, negating their bot-tom line even further, without being foreclosed upon, which would prove highly disruptive to the tenants.”

According to the 18-year multi-family brokerage veteran, it is critical to identify a buyer who sees the long-term perfor-mance potential in HUD prop-erties and is willing to assume the debt. In some cases, Jarvis also has been able to negotiate specific components of the sale, including a transfer-tax waiver. Such was the case in the recent trade of a fully occupied 200+-

unit age-restricted complex in Southern NJ. Jarvis, along with executive VP Joseph Brecher, arranged the transaction on behalf of the seller.

“Privately owned income- and age-restricted multi-family properties are rather ‘hot’ right now since they are characteris-tically well-occupied and well-maintained,” said Brecher, who noted the seller had marketed the property intermittently during the past several years. “Of course, strong relationships and a good reputation among lenders, government agencies and prospective buyers are all critical to facilitating a sale.”

“As the availability of for-sale market-rate apartment build-ings continues to fall short of heightened demand throughout New Jersey, investors of all types – from individuals to insti-tutional entities – are seeking to add income- and age-restricted properties to their portfolios,” said Ken Uranowitz, managing director. n

David Jarvis Joseph Brecher


mailto:[email protected]

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�A—May25-June7,2012—Mid AtlanticRealEstateJournal www.marejournal.com

Mid AtlAntic ReAl estAte JouRnAl Auctions

ALTIMORE, MD — A major waterfront de-velopment opportunity

in Baltimore’s emerging Port Covington neighborhood will become available through an auction scheduled for June.

Max Spann Real Estate & Auction Co. has scheduled the trustee-ordered auction of the approximately 5.21-acre property located at 301 East Cromwell Street for June 14, 2012 at 1 p.m. The auc-tion will be held at Miles & Stockbridge PC, 10 Light St., Baltimore.

“This waterfront property presents a rare opportunity for major development within the Baltimore-Washington metropolitan area,” said Max Spann, president and chief executive officer of the auction house. “The possibilities with this developmental area are endless, there are so many directions that a developer can go in.”

The existing zoning of the property will allow the new

B

5acresoflandwithriparianrights

MaxSpanntoauctionmajorwaterfrontpropertywithredevelopmentopportunitiesinBaltimore

5.21-acre property located at 301 East Cromwell Street

owner to create and develop a combination of retail, office, hotel, commercial, industrial, residential, recreation spaces, with an added possibility for a marina. The property in-cludes about 5 acres of ripar-ian rights.

The zoning calls for a Planned Unit Development (PUD), which allows for a grouping of varied and compat-ible land uses in one contained development. The property is located just off I-95 directly on the Harbor and is minutes from downtown Baltimore, Port Covington Shopping Center, and all of Baltimore’s desired attractions.

Port Covington was once called Fort Covington and was used to defend Baltimore from 1813 to 1869. The port has been in operational use for more than 150 years.

Max Spann has scheduled two property previews from noon to 2 p.m. on Thursday, May 24 and Thursday, May 31. n

Tranzon Alderfer, AY-000115-L Len Walter, Auctioneer, NJ Broker License #9913359 Michael Foster, NY Broker #49F00966562 Broker Participation Offered Sale Subject to Terms & Conditions and Sale Prior to Auction

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AL61312A Portland, PAJune 13, 1:00 pm ETMixed-use Property - Grocery Store, House & 2 Retail/Commercial Rental Units

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Directions: From W-boro square go N on Rt.997. Property on right approx. 1 mile.13+- ACRES of PRIME COMMERCIAL LAND! Outstanding opportunity w/

endless possibilities. Over 750ft of frontage on HIGH TRAFFIC PA Rt.997 and frontage on Stottlemyer Rd. Less than 1 mile from the square of Waynesboro.

REP ONSITE: Fri-June 8: 1-2PM & Auction Day:12-1PMTerms: 10,000-down in cash or certified funds. Balance due in 45 days 5% Buyer’s Premium. Announcements day of sale take precedence over all printed material.

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n e w J e R s e y • P e n n s y lva n i a • D e l awa R e • M a R y l a n D • w a s h i n g t o n D . C . • v i R g i n i a • Auctioneers Directory

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Richard G. Warner, PresidentNJ & PA Licensed Real Estate BrokerWarner Real Estate & Auction Co., Inc.109 East Grant Street, Suite BWoodstown, NJ 08098Ph: (856) 769-4111 ext 710Website: www.WarnerRealtors.com


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�A—May25-June7,2012—Mid AtlanticRealEstateJournal www.marejournal.com

Mid AtlAntic ReAl estAte JouRnAl

ARRISBURG , PA — Dermody Properties, parent company of DP

Partners, announced that Vet-Source has leased 12,000 s/f of space in DP’s LogistiCourt at 7917 Derry St.

The Dermody Properties team worked with VetSource throughout the transaction and included John Atwell, COO and director of develop-ment and, from DP’s East-ern Regional Office, Stephen Bailey, RLA, CCIM, partner; Matthew Marshall, associate partner; and James VMasca-ro, CCIM, LEED-AP, director

Landmark’sGracerepresentslesseeintransaction

Dermody Properties leases12,000s/ftoVetsourceinPA

of development. “We looked at several sites,

and Dermody Properties’ Lo-

gistiCourt at Derry Street best suited our needs,” said Kurt Green, president and CEO of VetSource. “The location al-lows us to quickly reach our East Coast customers, and Dermody Properties has been very accommodating to our needs. This relocation enables us to work with increased efficiency while being cost-ef-fective.”

The representative for VetSource was Jason Grace, CCIM, SIOR, vice president of sales and leasing at Land-mark Commercial Realty’s Harrisburg office. Represent-ing Dermody Properties was Julie Trogner, vice president of industrial services at Jones Lang LaSalle’s Philadelphia office. n

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WASHINGTON, DC — NorthMarq’s New Jersey of-fice recently closed a $4 million loan for the acquisition of a CVS in Washington, DC.

The borrower worked with Greg Nalbandian, managing director of NorthMarq’s NJ office, to finance this loan through a regional bank.

“The borrower, a very expe-rienced national single-tenant investor, took advantage of its longstanding relationship with CVS and extended the lease during due diligence from 7 years to 25 years, with a corporate guarantee on the new lease and also increased CVS’s rent by $90,000. Recog-nizing this significant value creation, the Bank was will-ing to lend aggressive, non-recourse proceeds at 80% of purchase price and 65% loan to value along with a three-year interest-only period and aggressive fixed prepayment structure with the final two years open at par,” said Nal-bandian. n

NorthMarqCapitalarranges$�millionmortgageforCVS


http://www.njpajournal.com/index.htm

UTZTOWN, PA — Marcus & Millichap Real Estate Invest-

ment Servic-es announced the sale of Vil-lage Square, a 39,612 s/f retail strip center located in Kutztown, a c c o r d i n g to Spencer Yablon, regional manager of the fi rm’s Philadelphia offi ce. The asset commanded a sale price of $4,025,000 or 98% of the asking price and was on the market for just 30 days before being sold to a private Pennsylvania limited partnership.

Brad Nathanson, senior di-rector in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller,

SHOPPING CENTERS

REISTERSTOWN, MD, May 9, 2012 – Marcus & Millichap Real Estate Invest-ment Services announced the sale of Sun-Trust Bank ( g r o u n d l e a s e ) , a 28 ,750 s / f net leased property lo-cated in Re-isterstown, accord ing to Spencer Yablon, re-gional man-ager of the fi rm’s Phila-delphia of-f i c e . T h e asset com-m a n d e d a sale price of $2,357,000.

Michael Shover & Matthew Gorman, investment special-ists in Marcus & Millichap’s Philadelphia offi ce, had the exclusive listing to market the property on behalf of the seller, a private investor. “The property generated a lot of interest from the market

Acquisition fi nancing for the buyer arranged by Wood of M&M

Nathanson of Marcus & Millichap reps the seller in $4.025 million sale of Village Square

K

Dougherty, Taylor & Zang secured the buyer

Shover & Gorman of Marcus & Millichap complete $2.357m sale

Village Square

a New Jersey based shopping center operator. The buyer, a local Pennsylvania partnership, was secured and represented as well by Brad Nathanson.

Village Square is located at 45 Constitution Boulevard, in close proximity to the prestigious campus of Kutztown University in Kutztown, Berks County.

Nathanson said, “The prop-erty generated signifi cant buyer interest due primarily to the property’s proximity to the college campus.” He added “There’s a limited supply of retail catering to the students as well as the local residents of Kutztown.”

Acquisition fi nancing for the buyer was arranged by Kris Wood of Marcus & Millichap Capital Corporation, also based in the fi rm’s Philadelphia offi ce. At the time of sale, the property was 88% occupied. ■

Sun Trust Bank

WOODBRIDGE, NJ — Marcus & Millichap Real Estate Investment Services announced the sale of a 54,866 s/f parcel of land l o c a t e d i n Woodbridge, according to Michael J . Fasano, vice pres ident /regional manager of the fi rm’s New Jersey offi ce. The asset commanded a sale price of $912,500.

Greg Babaian, vice presi-dent investments in Marcus & Millichap’s New Jersey of-

www.marejournal.com Mid Atlantic Real Estate Journal — Shopping Centers — May 25 - June 7, 2012 — 7A

Brad Nathanson

with multiple offers above list price,” adds Shover. “The credit of the tenant along with the quality of the real estate is what drove the inter-est,” said Shover. The buyer, a private investor, was secured and represented by Der-rick Dougherty, Dean Zang, and Mark Taylor investment specialists in Marcus & Mil-lichap’s Philadelphia offi ce. “The buyer was in a 1031 Exchange and specifically looking for this type of asset

to acquire,” adds Dougherty. David Feldman, Broker, as-sisted in closing this transac-tion.

SunTrust Bank (ground lease) is located at 11704 Reis-terstown Road. The property had just over ten years re-maining on the lease with an-nual increases. It is a ground lease structure which required zero responsibilities from the landlord. The purchase price of $2,357,000 equates to a 6.15 capitalization rate. ■

Michael Shover

Matthew Gorman

fi ce, had the exclusive listing to market the property on behalf of the seller, a private investor. He also secured and represented the buyer.

This fully approved de-velopment site is located at 414 Rahway Avenue in Woodbridge, New Jersey. The approvals for this project con-sist of 12,528 s/f of retail. The site is delivered with a strong tenant, “The Learning Experi-ence” that will occupy the en-tire fi rst fl oor of the building. This is a rare opportunity to acquire a fully approved development site in a great location that already has a lease on the retail space. ■

Babaian of Marcus & Milichap’sNJ offi ce closes $912,500 sale

Greg Babaian

Development site plans

8A — May 25 - June 7, 2012 — Shopping Centers — Mid Atlantic Real Estate Journal www.marejournal.com

18+ million square feet

Management LLCRD Thomas G. MirandiEmail: [email protected]: 212-459-9133

212-265-6600 Ext. 239

ARIZONAMesaKohl’s

McKellips Road & Recker Road95,279 SF GLA

Part of Falcon View Plaza w/ Fry’s

PhoenixFreestanding Barnes & Noble

1035 N. Metro Pkwy. West & 28th Dr.Adjacent to Metro Center Mall

19,360 SF on 1.48 Acres

TollesonFreestanding Kmart

West McDowell Road & North 86th Drive86,479 SF GLA

FLORIDAGainsville

Mixed Use – Grocery Store & Student HousingNW 13th St & University Avenue

1.74 AcresOver 27,500 SF Ground Floor Retail in

Proposed 171,000 SF 6-Story Residential Bldg

Fern ParkLowe’s Shopping Center

6735 Hwy. 17-92 & Fernwood Blvd. near Hwy. 436129,085 SF GLA

Proposed Retail Strip: 9,000 SF

ILLINOISDowners Grove

Marshall’s at The Grove75th St. & Lemont Rd.

400,000 SF GLAAnchor Space Available 43,264 SF

NilesGolf Glen Mart (Outparcel)

Golf Rd. & Dee Rd.Up to 12,000 SF Outlot, B-T-S

INDIANAEvansville

Evansville Shopping CenterMorgan Ave. & Boeke Rd.Rural King, Dollar General

153,000 SF GLA

IndianapolisPendleton Plaza

Pendleton Pike & Shadeland Ave.Kmart

134,797 SF GLA

South BendSouth Bend Shopping Center

US Hwy. 20 & US Hwy. 31112,900 SF GLA

Anchor Space Available

MICHIGANGrand BlancVacant Land

Holly Rd. & I-7522 Acres For Sale

MuskegonMuskegon Shopping Center

Henry St. & Norton Ave.187,000 SF GLA


Port HuronPort Huron Shopping Center

Howard St. & 24th St.Big Lots, Save-A-Lot, Family Dollar

118,000 SF GLAAnchor Space & Outlot Available

RedfordRedford Plaza

Plymouth Rd. & Inkster Rd.CVS/114,865 SF GLA


SaginawSaginaw Square

Tittabawasse Rd. & Bay Rd.Target, JoAnn Etc., Staples

94,891 SF GLAAnchor Space Available

SanduskyKmart Shopping Center

M-19 & Gates Rd.176,248 SF GLA


SouthgateFort St. & Burns Ave.

60,800 SF GLAFreestanding / Redevelopment Opportunity

MINNESOTASt. Paul

Midway Shopping CenterUniversity Ave. & Snelling Ave.

Rainbow Foods, Office Max, Walgreens280,353 SF GLA

Anchor Space Available 40,262 SF

NEVADALas VegasKmart Plaza

E. Sahara Ave. & McLeod Dr.127,754 SF GLA

10,945 SF Outbldg. Available

NEW JERSEYMarlton (Evesham)

Tri-Towne Plaza Route 70 & Plymouth Dr.

Superfresh/176,519 SF GLAAnchor Space Available/Redevelopment Opportunity

SHOPPING CENTERS




SHOPPING CENTERS

200+ retail projects

Management LLCRD Thomas G. MirandiEmail: [email protected]: 212-459-9133

212-265-6600 Ext. 239

NEW YORKNanuet

Home Depot PlazaRoute 59 & Hutton Ave.Home Depot, Staples

250,000 SF GLA/Pad Available

OrangetownOrangeburg Commons

Route 303 & Palisades ParkwayFuture Retail Development

Anchor Space, In-Line Space & Pads AvailableAdjacent to Lowe’s

Staten IslandLowe’s West Shore Center

Veterans Rd. West (I-440) & Arthur Kill Rd.Pad Building Available

7,000 SF New Retail Bldg. Available166,600 SF GLA

Stony PointStony 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 RetailTower II: 250 Condos & 5,178 SF Specialty Rest.

OHIOAshtabula

Home Depot PlazaRoute 20 (N. Ridge Rd.) & Orchard Rd.

130,000 SF GLA18,440 SF Expansion & Pad

FindlayHobby Lobby Plaza

Tiffin Ave. & Croy Dr.Hobby Lobby


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

OREGONSalem

Kmart Shopping CenterMission Street S. E.

116,866 SF GLA

PENNSYLVANIAAllentown

Home Depot PlazaLehigh St. & Route 78

220,000 SF GLA9.82 Acres Available

CarlisleHanover Street (Route 34) & I-81

Home Depot, Chili’s140,715 SF GLA

10,584 SF Future Expansion/Pad

TrexlertownTrexlertown Marketplace

Hamilton Blvd. (Route 222) & Mill Creek Rd.Walgreens, Panera Bread, Verizon

36,068 SF GLA

TENNESSEEHermitage (Nashville)

Freestanding Bldg. adjacent toJackson’s Courtyard Shopping Center

3445 Lebanon Pike 24,040 sf GLA

36,000 sf GLA Possible Redevelopment

TexasFt. Worth

Westcliff Shopping CenterAlbertson’s Market, Dollar General

Alton Rd. & Biddison St.133,332 sf GLA

VIRGINIARichmond

Food Lion PlazaRoute 1 (Jefferson Davis Hwy.) &

Chippenham Pkwy.Outlots Available

WEST VIRGINIASt. Albans

St. Albans CenterRoute 60 & MacCorkle Ave. SW

Kmart, Super Kroger, Peebles, CVS230,000 SF GLA

PUERTO RICOArecibo

Arecibo Towne CenterRoutes 2 & 22

Future DevelopmentAnchor Position & Outlots Available

PonceReina del Sur; Outlots atPonce Towne Center II

Rtes. #2 & Baramaya Ave. (Rte. 10) @ PR-52Wal-Mart SuperCenter, Home Depot

New Development & Pads525,000 ± SF GLA

NEW JERSEYMt. Olive

Pad Sites AvailableAdjacent to Foreign Trade Zone

Across from Wal-Mart, Sam’s, TJ Maxx

Old BridgeA & P Shopping Center

Route 9 & Ferry Rd.64,920 SF GLA

Up to 4,000 SF Outlot

VinelandVineland Marketplace

Delsea Dr. (Route 47) & College Dr.New Development

273,657 ± SF GLA / Outlots Available

WilliamstownWilliamstown Shopping Center

Black Horse Pike (Route 42) & Main St.CVS, Fashion Bug, Dollar General

85,000 SF GLAAnchor Space Available

NEW YORKDeer Park

Kohl’s PlazaCommack Rd. & Grand Blvd.Kohl’s, Super Stop & Shop

182,875 SF GLAProposed Pad 3,800 SF

Glenville/Scotia (Albany)Freestanding Building

Saratoga Rd. (Route 50) & Glenridge Rd.128,485 SF GLA


HoltsvilleIsland 16 Cinemas Shopping CenterNicholls Rd. & Long Island Expwy.

National Amusements Theater, Chili’s117,342 SF GLA

Pad Bldg. Available with Drive-thru

Latham/Colonie (Albany)Kmart Shopping CenterRoute 7 & Swatling Rd.

118,863 SF GLAUp to 10,000 SF Outlot Available

Monroe/WoodburyHarriman Commons

Routes 17 / 6 & Route 32Wal-Mart, Home Depot, BJ’s,

Target, Home Goods, Best Buy687,716SF GLA

Anchor Space & Outlots AvailableFuture Phase III Office Bldg.




SHOPPING CENTERSSHOPPING CENTERS

URCHASE, NY — Na-tional Realty & Devel-opment Corp. (NRDC),

r e c e n t l y announced the opening o f P a n e r a B r e a d a t Northamp-ton Crossing. P e t S m a r t w i l l a l s o open at the center in late spring. Northampton Cross-ings is located at 3768 Easton Nazareth Parkway at the in-tersection of Routes 248 and 33 in Easton, Pennsylvania.

Panera Bread occupies a 3,860 s/f drive-thru space and PetSmart leased 12,500 s/f. The new additions join anchor tenants Walmart Supercenter, Kohl’s, Sam’s Club and Regal Cinemas. Other recent trans-actions at the center include Staples and Shoe Show lease renewals.

“The leasing of Panera Bread and PetSmart strength-

YoGo Factory new addition to CooperTowne Center

National Realty & Dev. Corp.leases 12,500 s/f to PetSmart P

ens Northampton Crossing’s position as the premier shop-ping destination in the mar-ket”, said Dovid M. Spector, di-rector retail leasing at NRDC. The center is well positioned in a high-traffic area with daily traffi c counts totaling 15,400 vehicles on Route 248 and 24,350 vehicles on Route 33”.

“We are thrilled to open our newest bakery-cafe in such a dynamic community,” said Braden Klinger, Joint Venture Partner, Panera Bread. “We are happy to offer the many business professionals, fami-lies and students in the com-munity fresh and wholesome food choices.

Additionally, we’re excited that this drive-thru loca-tion will provide the con-venient service their busy schedules demand. We look forward to sharing our signa-ture Panera warmth here in Nazareth.”

In other news, National Realty & Development Corp.

(NRDC) announced that YoGo Factory has opened at Cooper-Towne Center in April 2012. The 366,865 s/f CooperTowne Center is situated at the in-tersection of White Horse Pike (Route 30) and Evesham Ave-nue (Route 544) in Somerdale, New Jersey approximately 10-miles southeast of Phila-delphia, PA. The shopping center is anchored by Walmart Supercenter, Cinemark 16-screen theatre, and a 4,000 member LA Fitness.

“YoGo Factory is the area’s largest frozen yogurt cafe and provides a unique experience for all ages”, said Brian Petru-zzi, owner of YoGo Factory. ■

a section of the

Mid Atlantic Real Estate Journal

P.O. Box 26, Accord, MA 02018781-871-5298 • 800-584-1062

fax 781-871-5299www.marejournal.com

Associate PublisherElaine Fanning

[email protected]

Section EditorRachel Rugman

[email protected]

Shopping CentersReal Estate Journal

Dovid M. Spector

HOBOKEN, NJ — Metro Com-mercial Real Estate, Inc., ne-gotiated a 1,350 s/f lease in the heart of Hoboken for Red Mango, one o f the fastest grow-ing retailers of all-natural frozen yogurt and fresh fruit smoothies. This urban storefront, located at 213 Washington Street, is scheduled to open this summer. The lease was negotiated on behalf of Home Made Pizza Co.

by Metro Commercial’s Perry GraBois. This location was previously occupied by a Home Made Pizza Co. store. “This area of Hoboken is expe-riencing tremendous growth,” said GraBois. “We are thrilled to bring a fast-growing retailer of this stature to the neighbor-hood.” Red Mango opened its fi rst U.S. store in July 2007 in Los Ange-les and has since celebrated more than 170 store openings in North America. It was named the number one smoothie chain by Zagat in 2011. ■

Perry GraBois

GraBois of Metro negotiates new lease for Red Mango

215.531.7000202.536.3700

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SHOPPING CENTERS

BRYN MAWR, PA — WP Re-alty is pleased to announce the sale of Shaw’s Plaza located in Plymouth, MA. Shaw’s Plaza is a 178,000 sf shopping center anchored by a 59,766 s/f Shaw’s Supermar-ket located approximately 40 miles south of Boston. WP Realty purchased Shaw’s Plaza in Plymouth as part of an eight property portfolio in May 2011. ■

WP Realty completes the sale of Shaw’sPlaza in Plymouth

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ITTSBURGH, PA — To-tal Hockey, a privately held hockey equipment

retailer, has entered the P i t t sburgh market, sign-ing two long-term leases for retail lo-cations in the C r a n b e r r y and Park-w a y We s t submarkets. Jared Imperatore of Cushman & Wakefi eld- Grant Street Associates, Inc. repre-sents Total Hockey in Western Pennsylvania.

Total Hockey has signed a 10-year lease to open its fi rst store in the Pittsburgh region at Cranberry Square, next to Pier One Imports. The 8,025 s/f site formerly was occupied by Pet Supplies Plus, which moved to the Viola Building. Art DiDonato of Oxford Realty Co. represented the landlord in the transaction.

The company’s second area location will be at the Plaza @ The Pointe in North Fayette, where Total Hockey will occupy the former Shoe Carnival space. Total Hockey executed a 10-year lease for 8,910 s/f after Shoe Carnival relocated to Settler’s Ridge. Sarah Piccione repre-sented the landlord, Costa Land Co. The new store will neighbor Old Navy, Ulta and Bed, Bath & Beyond in the plaza.

Michael Benoit, CEO and President of Total Hockey, Inc., says Pittsburgh was a natural choice for the company’s expan-sion.

“Pittsburgh’s strong ties to professional hockey through the Penguins, its strong de-mographics and secure retail market immediately landed it on our radar for expansion op-portunities,” Benoit said. ■

Piccione reps the landlord, Costa Land Co.

Imperatore of CW-Grant Street reps 8,910 s/f lease

P

Total Hockey

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SHOPPING CENTERS

Coldwell Banker Commercial Bennett Williams110 N. George Street – 4th floor

York, PA 17401717 - 843 - 5555

www.bennettwilliams.com

Silver Spring SquareMechanicsburg, PA 17050

1,600-3,200 SF AVAILABLE FOR LEASE

Newberry PointeNewberrytown, PA 17319

1,500-6,500 SF & PAD SITES AVAILABLE

Wayne PlazaChambersburg, PA 17201

1,600-6,000 SF AVAILABLE FOR LEASE

3513 Gettysburg Rd.Camp Hill, PA 17011

23,875 SF AVAILABLE FOR LEASE

HILADELPHIA, PA — Soloff Realty & De-velopment, Inc. (SRD),

announced a finalized 10-year, 3,506 s/f lease for Vi-sionworks of America, Inc. d/b/a Visionworks at the Citibank Plaza Shopping Center, located at 2118 Cott-man Avenue in Northeast Philadelphia. This will be Visionworks’ second store in Northeast Philadelphia who will be leas-ing a portion of the former Mattress Giant space, and scheduled to open late sum-mer 2012. Richard Soloff of SRD is

Richard Soloff represents the owner

Soloff Realty executes a 3,506 s/f lease for VisionworksP

the exclusive leasing bro-ker representing the owner, Cottman Realty Associates of Westport, CT. Visionworks is exclusively represented by Michael Gorman of Metro Commercial Real Estate. EWING, NJ — Soloff Realty & Development, Inc. has recently fi nalized 2 new leases at the Glendale Village Shopping Center, located at N. Olden Avenue and Park-way Avenue in Ewing, Mercer County. The fi rst lease, New Soul Grill, which is owned and operated by Charles Man-ning, is scheduled to open later this month. The 1,260 s/f restaurant will offer home-style cooking, focusing on Manning’s locally famous fried chicken and seafood. Little Caesars also recently executed a new lease for 1,200 s/f and is scheduled to open Summer 2012. This is the operator’s fi rst Little Caesars location. Owned and managed by WDG, LP, of Trenton, New Jersey, other tenants in the center include Family Dollar, Dunkin’ Donuts, UPS Store and a local dry cleaner. WYNNEWOOD, PA — Soloff Realty & Development, Inc. (SRD), announced the leas-ing of 1415 City Avenue, a free-standing 2,600 s/f build-ing to PhilaRx Pharmacy 5, Inc., a local retail pharmacy owner who operates 4 ad-ditional locations within the City of Philadelphia. It will be PhilaRx Pharmacy’s fi rst suburban location. Richard L. Soloff of SRD was the exclusive leasing broker representing both the owner, City Line Partners of St. Pe-ters, PA and the tenant. PhilaRx Pharmacy is sched-uled to open the new drug-store summer 2012. ■

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URCHASE, NY — Na-tional Realty & Devel-opment Corp. (NRDC)

has been chosen to receive the New Jersey Future 2012 Smart Growth Award for the redevelopment of Cooper-Towne Center in Somerdale, New Jersey. CooperTowne Center is located at 711 Eve-sham Avenue at the intersec-tion of the White Horse Pike and Evesham Avenue. The award is based on recognizing the best devel-opment or redevelopment projects around the state that embrace sustainable growth and environmental preservation. CooperTowne Center was classified as a “greyfields project”, one of the fi rst in the state, by the New Jersey’s Office of Smart Growth. National Realty & Development Corp.

For the redevelopment of CooperTowne Center

NRDC to receive NJ Future 2012 Smart Growth AwardP

transformed the former 52 acre Lions Head Plaza into a 367,000 s/f state-of-the-art traditional northeast down-town shopping destination bringing 650 new jobs to the area. “National Realty & Develop-ment Corp. is extremely hon-ored to receive this award. Through the collaborative ef-forts of NRDC, the Boroughs of Somerdale and Magnolia,

their professionals and the residents of these communi-ties, we were able to deliver CooperTowne Center, a true example of shopping center revitalization” said John Or-rico, president NRDC. The award will be given at the Support the Smart Growth Awards celebration on June 7th, 2012 at the Newark Club in Newark, New Jersey. ■

Davis & Wallace to rejoin

Nave Newell welcomes Haggerty & Prusko

KING OF PRUSSIA, PA — Nave Newell Inc. announced four em-ployees have joined the company over the past few months. J. Mi-chael Davis, RLA, LEED AP, has rejoined Nave Newell as project manager for the Land Planning Department. Davis started his career with Nave Newell in 2004 where he worked as a landscape architect until 2010. Nave Newell also welcomes back Jack Wallace, PE, LEED AP who returns to the company as a project engineer. Wallace previously worked as an

intern and then staff engineer after graduating. Two new ad-ditions to the Civil Engineering Department include Dan Hag-gerty and Matthew Prusko as staff engineer and engineering technician respectively. “As we celebrate our 20th anniversary year and continue to see growth return, we are excited to make these new additions to our team and very happy to have some familiar faces back in the offi ce,” said Greg Newell, president of Nave Newell. ■

Shown from left: Matthew Prusko, Jack Wallace, Dan Haggerty, J. Michael Davis

CooperTowne Center


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ENNETT SQUARE, PA — Defying the trend of contraction in Delaware

Valley architecture and design fi rms, the award-winning fi rm of Bernardon Haber Hollo-way Architects is growing its senior management team by announcing that Paul Andrew Sgroi, AIA, LEED AP, Timothy J. Cassidy, PhD, RLA, AICP and Douglas C. Hertsenberg, AIA have become Principals and Shareholders of the fi rm. This expanded fi rm ownership responds to Bernardon Haber Holloway Architects’ recent business expansion due to the broad array of existing and new

Principals Sgroi, Cassidy & Hertsenberg

Bernardon Haber Holloway Architects’ leadership growth defi es industry trends

K

Senior Management Team

ROCKVILLE, MD —The DC Studio of Perkowitz+Ruth Ar-chitects (P+R) has achieved LEED® Certifi cation for Core & Shell for a base building reno-vation at Montrose Crossing, as recently announced by the Green Building Certification Institute. To achieve the unique re-tail certifi cation, P+R’s team worked closely with owners BVS Montrose, LLC and Fed-eral Realty to reduce the pe-rimeter footprint of the build-ing while keeping as much of the interior of the building as possible. Positioned within the larger Montrose Crossing shop-ping center in Rockville, Md., this former Levitz building was in the path of a road extension planned by the county so in-stead of demolishing the build-ing, the project team went with a more sustainable approach. “We are proud of the work done at Montrose Crossing,” said DC Director and Associate Princi-pal Joseph Serruya. “All parties involved, including the city, our clients and each of the retailers, was committed to ensuring that this project met high standards for sustainability.” P+R’s scope of services in-cluded selectively removing several column bays around the perimeter including the exterior walls, gutting the interior, and modifi cations to include new exterior walls to accommodate two new tenants, Bob’s Discount Furniture and A.C. Moore. P+R also provided the tenant improvement for A.C. Moore which is currently pursuing LEED for Retail, Commercial Interiors Certifi -cation. ■

P + R Architects achieves LEED®Certifi cation

clients that have sought out the fi rm as a dependable source for diverse and creative architec-tural, site, urban, and interior design services. Sgroi, Cassidy and Hertsenberg will provide ownership-level leadership of their respective industry market sectors to enhance the “hands-on” project design and management services which have come to defi ne the fi rm’s 39-year rise to prominence in the Delaware Valley’s architec-ture and design community. “Paul, Tim and Doug are dedicated and talented design-ers and leaders who share our fi rm’s philosophy of providing

exceptional design services to our clients,” says Art Bernar-don, president and founder of the fi rm. “By expanding our sources of visionary leadership, we are poised for the future and ready to sharpen our focus on what is most important to us – our clients.” Sgroi, Cassidy and Hertsen-berg will serve on Bernardon Haber Holloway’s Board of Directors with current Princi-pals and Shareholders Arthur A. Bernardon, AIA, LEED AP, Kerry R. Haber, AIA, LEED AP, William E. Holloway, AIA, LEED AP, and Neil B. Liebman, AIA, LEED AP. ■

SHINE THE SPOTLIGHT ON YOUR COMPANY & ITS EXECUTIVES!

Interested in joining the many retail companies who are already participating?For details on how to submit your company or executive profile

Contact Elaine Fanning to reserve your spaceP: 800.584.1062. x212 E: [email protected]

Shopping Centers Featuring5th Annual Retail Profiles

June 22, 2012Deadline: June 8, 2012




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Azarian Realty Co.The Azarian Building • 6 Prospect St.Suite 1B • Midland Park, NJ 07432 F: 201-444-9888 F: [email protected] M. Azarian • Donna M. Azarian • Kevin Pelio Nicole Critelli • Matt Scozzari

Coldwell Banker CommercialBennett Williams Inc.110 N. George Street • 4th Floor York, PA 17401P: 717-843-5555 F: [email protected] Behler Jr. • Bobby Traynham Dennis Neiman • Chad StineChris Seitz • Bradley Rohrbaugh • David Schad

Colliers International – Philadelphia, PA (HQ)399 Market St. Ste. 350Philadelphia, PA 19106P: 215-925-4600 F: 215-925-1040www.colliers.com/philadelphiaMichael Barmash • Despina BelsemesDavid Dunkelman • Michael KahanTodd Sussman

Colliers International – Allentown, PA7535 Windsor Dr., Ste. 208Allentown, PA 18195P: 610-770-3600 F: 610-770-3100Derek Zerfass • Scott Horner

Colliers International – Harrisburg, PA300 N. Second St., Ste. 1203Harrisburg, PA 17101P: 717-730-3752 F: 717-238-3299William Aiello • George Lulos

Colliers International – Mount Laurel, NJ1317 Route 73, Ste. 109Mt. Laurel, NJ 08054P: 856-234-9300 F: 856-222-1115David Dunkelman

Colliers International – Wilmington, DE300 Delaware Ave., Ste. 1018Wilmington, DE 19801P: 302-425-4000 F: 302-425-4700Mark Undorf

Fameco - Woodbridge, NJWoodbridge Towers • 555 U. S. Hwy 1Iselin, NJ 08830P: 732-526-9000 F: 732-526-9101www.famecoretail.comTyler Bennett • Carlo CaparruvaMike Horne • Scott Jennerich • Dan SpectorSteven Winters • Anthony Palmiotto • Kim Kretowicz

Fameco - Philadelphia, PA 1425 Walnut Street, Suite 200Philadelphia, PA 19102P: 215.557.0050 F: 215.557-0053www.famecoretail.comJackie Balin • Paige BarrowMichael Gray • Eva Redette • Larry Steinberg

Fameco - Plymouth Meeting, PA633 West Germantown Pike • Suite 200Plymouth Meeting, PA 19462P: 610-834-8000 F: 610-834-1793www.famecoretail.comCathy Agnew • Brian Bruzek • Jeff CohenJim Creed • Scott Dennis • Brandon FamousJohn Fasciano • Dana Hawkins Jerry Johnson • Jon KiesermanAdam Kohler • John Krause • Jon KushnerGary Leone • Marc Mandel • Matt MandelJay Miller • Steve O’Malley • David OrkinDale Peterson • Rick SchuchJulie Tanpitukpongse • Dave VitaliRick Weinberg • Fred YounkinColin Behr • Daniel Sonnentag

Kay Realty Services, LLC1989 Jumping Brook Rd.Tinton Falls, NJ 07753P:732-918-1148 F:732-918-1628www.kayrealtyholdings.comWilliam Klein, Broker • DeveloperProperty Management • Leasing

KW Commercial-The James Balliet Commercial Group40 S. Cedar Crest Blvd.Allentown, PA 18104P:610-435-4711F:610-435-2800James Balliet, Robert Thompson, Melanie StockerDr. Rex D’Agostino, Cheyenne ReimanPete Ambrosino, Heather LynneChristopher Milotich

120 North Pointe Blvd., Suite 301, Lancaster, PA 176011200 Greensprings Drive, York, PA 17402P: 717-569-9373 T: 800-864-2633www.LMS-PMA.com

Joe R. Deerin, CSM, Donna Deerin Ward, Dave Nicholson, Blaze Cambruzzi, Michael Boden, SCSM, Chad Ward, Blake Gross, Joe Spagnola, CCIM, Ted Hummel, CCIM, Wilay Boensch,Ryan Myers, CCIM, Jeremiah Hamilton, Travis Riley, Patrick Cullen

David S. FeldmanRegional Manager – Washington DC Offi ce

Special Assets Services – Regional Director7200 Wisconsin Ave. • Ste. 1101 • Bethesda, MD 20814

P: 202-536-3700 F: 202-536-3710www.marcusmillichap.com

Michael J. FasanoVice President and Regional Manager

611 River Dr. • 4th Floor • Elmwood Park, NJ 07407P: 201-582-1000 F: 201-582-1010

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Spencer YablonVice President and Regional Manager

101 West Elm Street • Suite 600 • Conshohocken, PA 19428P: 215-531-7000F:215-531-7010

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Metro Commercial – Mt. Laurel, NJ303 Fellowship Rd • Suite 202 • Mt. Laurel, NJ 08054P: 856-866-1900 F: 856-866-1611Brandon Anapol • Brent Barbehenn • Dan BricknerRob Cooper • Mark Gerlach • Perry GraBoisTom Londres • Lauren McDermott • Pete NicholsonKurt Rumley • Paul Rumley • George Wisnoski Metro Commercial - Conshohocken, PAEight Tower Bridge • 161 Washington St. • Suite 375Conshohocken, PA 19428P: 610-825-5222 F: 610-825-5156Phil Azarik • Joe Dougherty • Donna Drew •Steve Gartner • Brian Goodwin • Randy HopeGlenn Marvin • Mike Murray • Steve NiggemanRoy Perez-Daple • Aaron Repucci Metro Commercial - Center City123 S. Broad St. • Suite 1835Philadelphia, PA 19109Michael Gorman • Steve Gartner • Lars Kerstein

Remco Realty Group1215 Livingston Ave • Suite 2 • North Brunswick, NJ 08902P: 732-253-0888 F: 732-253-0887www.remcorealty.netPeter Gallicchio, Owner/PresidentNicole Zeller - Brian HellerJoseph Marino – Mark DiGiovanni

Rock Commercial Real Estate LLC221 W. Philadelphia • St. Suite 19 • York, PA 17401www.rockrealestate.netRyan Myers, CCIM, • Larry O’Brien, CCIMBenjamin Chiaro, CCIM • Cami Spiridonoff, CPM David Bode, CCIM, SIOR • Dave Keech, CCIM, SIOR Jason Turnbull, CCIM • Kevin Hodge, CCIMMichael Katz, CCIM • Russ Bardolf, CCIMTed Turnbull, CCIM


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18A — May 25 - June 7, 2012 — Mid Atlantic Real Estate Journal www.marejournal.com

PeoPle on the Move

avre de Grace, Md — John B. Gonzalez, P.E., CPSWQ, branch

manager of the Havre de Grace o f f i c e o f Landmark C o n s u l t -ing Engi-neers, Inc., d/b/a Land-markJcM, h a s b e e n elected to a three -year term as a member of the board of directors for the Havre de Grace chamber of commerce, and will also be the secretary to the board’s executive com-mittee.

Bruce J. Tease, president of LandmarkJcM, said “Land-markJcM made a commit-ment to establishing an office in the area and our commit-ment extends to the economic growth and vitality of the city.” He also noted that he is “quite pleased to see that the city has recognized John’s personal commitment to the economic success of the city

of Havre de Grace and proud to see John giving back to the community.”

Gonzalez is also serving his first term on the city’s eco-nomic development advisory Board, chaired by Meghan Simmons, director of the city of Havre de Grace, Office of economic development. He says this involvement has al-lowed him “to be a part of a group of outstanding people with genuine interest in pro-moting economic development in Havre de Grace.”

Gonzalez believes this area of Harford county is primed for economic growth which will have a positive impact on the city. He remarked that “the projects LandmarkJcM works on deal with issues which we, as business leaders in our community, feel will impact that economic growth. These issues need to be handled in a manner which promotes posi-tive economic growth for all business owners.”

Gonzalez, has been a Mary-land professional engineer

for 13 years and has over 24 years of extensive site design and project management ex-perience in Harford, cecil and 10 other Maryland counties, the Towns of elkton, Bel air, Perryville and the city of ab-erdeen. recent successful proj-ects include the cecil college Physical education building expansion, Perryville Library, Shelter development assisted living, and numerous Wawa, exxon Mobil, auto Zone sites, and natural gas pipelines for elkton Gas and eastern Shore Natural Gas.

Gonzalez is responsible for managing the site design, stormwater management facil-ities, road and utilities design and site grading and drainage for commercial, industrial, rec-reational, institutional, resi-dential development and util-ity projects located in Mary-land. He resides in nearby cecil county with his family. He and his wife, Kathleen, are small business owners of the elk Neck veterinary clinic, located in North east. n

To board of directors

Havre de Grace Chamber of Commerce elects GonzalezH

BLue BeLL, Pa — as a progressive law firm, Kaplin Stewart takes pride in of-fering our clients sound legal advice, practical solutions and value for their dollars. We are excited to include another value added service to our repertoire: pennsylva-niaconstructionlawyer.com. This construction law blog is

Pennsylvaniaconstructionlawyers.com

Kaplin Stewart launches construction law blog

PHiLadeLPHia, Pa — Manko, Gold, Katcher & Fox founding partner Joseph M. Manko received the civic Lead-ership award at the Fifth annual cen-tennial cele-bration of the F a i r m o u n t Park conser-vancy at The Horticulture cen-ter in West Fairmount Park. Manko was recognized for his commitment and dedication to preserving and enhancing the Fairmount Park system and open spaces throughout the Philadelphia region.

John Binswanger, board chair and founder of the con-servancy, was thrilled to pres-ent this award to Manko. He said, “Through his service as Fairmount Park commissioner and currently as a member of the board of directors of the Fairmount Park conservancy, Joe’s unwavering commitment to engaging and connecting stakeholders and partners around sustainable develop-ment and the environment has been an invaluable asset to the conservancy and the city itself.”

Throughout his career,

Manko has held many lead-ership positions in the re-gion and commonwealth of Pennsylvania. currently he co-chairs the Mayor’s Sustainabil-ity advisory Board for the city of Philadelphia, and since 2003, he has been the Governor’s designee to chair the board of directors of the Pennsylvania infrastructure investment authority (PeNNveST). He is also serving as an advisory committee member for the Liberty Housing development corp. He serves as a master emeritus of the delaware val-ley environmental inn of court, served two terms as a member of the board of directors of the Pennsylvania Bar institute, and serves as a member of the Pennsylvania environmental Hearing Board rules commit-tee. Manko was appointed by the Montgomery county Board of commissioners to serve on the county’s Task Force on the reduction of Greenhouse Gas emissions. His longest position was to serve as commissioner to Lower Merion Township for 27 years until his retirement in 2006, making him the Twp.’s longest serving elected official. in 2007, he had an appointment by Governor Tom ridge to serve on Pa’s 21st century environ-ment commission. n

MGKF’s Manko receivesCivic Leadership AwardJohn B. Gonzalez

WiLMiNGTON, de — Dave Morrison, of NAI Emory Hill has been des-ignated a cciM (cer-tified com-mercial in-v e s t m e n t Member) by the cciM institute.

a cciM is a recognized

expert in the commercial and investment real estate industry who successfully completes a designation pro-cess that ensures proficiency not only in theory, but also in practice. The elite designation is awarded to those who have successfully completed an in-tense curriculum, a portfolio demonstrating their depth of commercial real estate expe-rience and a comprehensive

CCIM Inst. designates NAI Emory Hill’s Morrison

Dave Morrison

examination.

cciMs are part of a global commercial real estate net-work with members across North america and in more than 30 countries. This pro-fessional network has en-abled cciM members to close thousands of transac-tions annually, representing more than $200 billion in value. n

B a LT i M O r e , M d — Reznick Group announced that more than 150 employ-ees from the Baltimore office volunteered their time during reznick Group’s 6th annual community Outreach day. Held on May 11, 2012, partici-pants were involved in seven different volunteer events around the greater Baltimore area. employees assisted those less fortunate, participated in cleanup activities, and helped care for animals, among other philanthropic activities.

reznick Group employees chose this year’s list of ser-vice activities based on their individual interests and phil-anthropic goals. They joined forces with the following non-profit organizations for the

Reznick Group holds 6th Annual Community Outreach Day

PiNe BrOOK, NJ — GSH Group, Inc. received an award for energy efficiency at New Jersey International Facil-ity Management Associa-tion’s (NJ iFMa) First annual awards Banquet and Network-ing Gala held on Wednesday, May 9, 2012 at the Palace in Somerset. The award is to honor the professional mem-bers of NJ iFMa that displayed improvements in facilities by reducing energy and conserving resources.

GSH received the energy award for their service at Pla-

NJ IFMA presents GSH Group with awardza Nine, which is a 115,000 s/f office building located in Woodbridge. GSH provides its energyplus, energy manage-ment program to the facility. as a result, GSH has lowered Plaza Nine’s energy usage through several activities and investments including regular monitoring and various me-chanical projects. Some of the energy conservation measures included lighting upgrades, in-stallation of sensors and vFds, as well as a daily monitoring and adjustment program to ensure sustainable savings. n

designed to discuss all things construction. We hope you will check it regularly for legal insight, industry observa-tions, and much more. We also encourage you to subscribe to it, share it with your friends and colleagues, and engage in the conversation by post-ing comments to the various posts. n

Joseph M. Manko

office’s annual event: • Back river restoration committee • cylburn arboretum• Maryland SPca• Meals on Wheels of central Maryland • PacT: Helping children With Special Needs • Parks and People Founda-

tions • real Food Farm

“reznick Group has a very impressive group of employees in the Baltimore office who are extremely committed to giving back to the community,” said Bill riley, principal in reznick Group’s Baltimore office. n

Reznick Group employees gather after a day spent volunteering with the Back River Restoration Committee.


www.marejournal.com Mid Atlantic Real Estate Journal — Green Buildings — May 25 - June 7, 2012 — 19A

NJPAGREEN BUILDINGS

UNT VALLEY, MD — Liberty Property Trust has added En-

ergy Star certification at a seventh building in its Mary-land region. The class A offi ce building is located at 6 North Park Drive within the North Park Business Community in Hunt Valley.

“Our Energy Star buildings are offering proven savings di-rectly to our tenants – they can see the impact on their energy bills and it is very meaningful to them,” said Lisa Sullivan, vice president and city man-ager, Liberty Property Trust. “Our efforts are helping to both retain existing tenants and attract new ones because we show a consistent willingness to fi nd creative ways to reduce energy through partnerships with our tenants. This is a program that will only become more valuable in the coming years.”

During the last year, Liberty focused on closely monitoring the Building Wide Area Net-work (BWAN), which provides the company with real time information on the building

H

Region continues its mission to deliver measurable energy savings to tenants

Liberty Property Trust receives Energy Star Certifi cation at 6 North Park Dr. in Hunt Valley

In December of 2011, 9770 Patuxent Woods Drive in Co-lumbia received Energy Star certifi cation. In addition, dur-ing September of 2011, five buildings in the Liberty Mary-land portfolio were re-certi-fi ed Energy Star, including: 4 North Park Drive (North Park Business Community) and 307 International Circle

(Longview Business Center,) both in Hunt Valley, and 6220 and 6230 Old Dobbin Lane (Columbia Crossing) and 9755 Patuxent Woods Drive (Patux-ent Woods Business Center) in Columbia.

Across the nation, Liberty has received Energy Star cer-tifi cation for 91 buildings in 15 regions from Philadelphia to Florida, Illinois to Arizona. Buildings are measured on a points system that consid-ers energy use, location, size, weather patterns and sev-eral operating characteristics. Those that receive a score of 75 points or more (out of 100) are honored with the designation.

Energy Star was introduced in 1992 as a voluntary, mar-ket-based partnership to re-duce air pollution through increased energy efficiency. Today, in partnership with the Department of Energy, the program offers businesses and consumers effi cient solutions to save energy, money and help protect the environment for future generations. More than 17,000 organizations have be-come Energy Star partners. ■

6 North Park Dr.

systems and allows Liberty to run the systems more ef-fi ciently. Light control sensors were added to all stairwells and common areas and light-ing was upgraded to LED on all exterior wall pack fi xtures and bollards.

In March, Liberty was named a 2012 ENERGY STAR Part-ner by the U.S. Environmental

Protection Agency for strategi-cally managing and improving the energy efficiency of its entire office and industrial building portfolio. The Mary-land Region has signifi cantly contributed to the company’s sustainability efforts by cer-tifying or recertifying seven Energy Star buildings in the market during the last year.

EDISON, NJ — Avidan Man-agement announced a large-scale solar power project at 180 Raritan Center Parkway, a 350,000 s/f dry and freezer storage facility.

The fi rm has commenced the installation of a 2.2-megawatt solar electrical system that, over its lifespan, will reduce carbon emissions by 48,573 tons, and will service more 90 percent of the facility’s power needs. The energy savings produced by the system will be equivalent to planting more than 1.9 million trees. Looking at it another way, the solar pro-duction that will be generated by the system will be enough energy to power more than 235 homes.

Expected to be complete by May 31, the installation is part of PSE&G’s Solar Loan

Avidan Management launches 2.2-MW solar power project installation at 180 Raritan Center Parkway in Edison, NJ

180 Raritan Center Parkway

Program, which makes solar energy systems accessible to building and facility owners in PSE&G’s electric service terri-tory. The program is designed to encourage the development and installation of clean, re-newable energy technologies

throughout New Jersey.“This installation is the next

step in our firm’s commit-ment to responsible business practices, namely increasing the energy efficiency of our properties,” said Avi Avidan, managing member of Avidan

Management. “We believe this intensive improvement project will reap tremendous benefi ts for the current and future ten-ant base while also helping to achieve the state’s goal of becoming a leader in the arena of renewable energy.”

In addition to the solar in-stallation, Avidan recently completed a number of other upgrades at 180 Raritan Cen-ter Parkway including rein-sulating refrigeration piping, repainting the building’s ex-terior, replacing dolly pads for the warehouse and retrofi tting the lobby with LED lighting.

Set on 16 acres, the property has up to 28,800 s/f allocated for offi ce space and features reinforced concrete floors, 24-foot to 18-foot clear ceiling heights, 24 exterior doors with dock levelers and ample on-site

parking. Largely used by companies

involved in the storage of dry and frozen foods, the building’s tenant roster includes Cross Docks Solutions, LLC, Broad-range Technologies and Prima Group, Inc.

This project is the second solar installation for which Avidan has partnered with PSE&G. Last year, the compa-ny completed a 4.26-megawatt solar electric system at 145 Talmadge Road, a refrigerated distribution facility in Edison, N.J. Consisting of 17,745 solar panels, the system was the largest rooftop-mounted solar panel installation to have been completed in the entire country at the time. In the fi rst month after installation, the system reduced electrical costs by 70 percent at the building. ■


20A — May 25 - June 7, 2012 — Green Buildings — Mid Atlantic Real Estate Journal www.marejournal.com

GREEN BUILDINGS

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Creating the perfect environment

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ORRISTOWN, NJ — BASF unveiled i t s n e w N o r t h

American headquarters on May 4th at The Green at Florham Park. The 325,000 s/f, state of the art corpo-rate headquarters will house 1,400 employees. BASF en-gaged Gensler to design a progressive and sustainable workplace environment that reflects the BASF vision, brand and culture. Gensler worked collaboratively with developer, The Rockefeller Group and base building ar-chitect, KPF to bring BASF’s sustainable vision to life. With BASF’s dual LEED targets, LEED Platinum for the building design and the interiors the headquarters is expected to be one of the greenest buildings in New Jersey.

Gensler partnered with BASF to design a space that would enrich the employee experience through a highly collaborative and fl exible in-terior workplace design con-cept that “creates chemistry through connections.” Con-nections between employees are enabled through 90% open space neighborhoods, use of glass for a more trans-parent environment, and sweeping, intercommunicat-

325,000 s/f state of the art headquarters in Morristown, NJ

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In order to target LEED Platinum certification, the interiors incorporate energy conserving strategies includ-ing interior lighting designed at less than .7 watts per s/f, daylight harvesting, private offi ces outfi tted with sensors to further eliminate lights activating when unoccupied, and an under fl oor air distri-bution system which provides employee climate control and energy savings. ■



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GREEN BUILDINGS

ayshore Recycling Corp. was developed over the past 20 years by Valerie

and Frank Montecalvo who have successfully been main-taining a profi table operation at a time when the economy faces many challenges. Bay-shore and its affi liated com-panies operate six separate recycling companies within its 52-acre Eco-Complex and Energy Park.

Renewable energy is also at the center of the company’s Business Plan with the 2008 installation of a 679 kilowatt (9,365 panels) rooftop solar energy system that assists in powering operations.

Bayshore also plans to add wind and biomass to energy technology and use the energy produced to complete its cor-porate vision to operate 100 percent green businesses pow-ered by 100 percent renewable energy. The following briefl y summarizes the Bayshore Family of Companies and their capabilities:

• Bayshore Recycling Corp.: Bayshore accepts up to 2,500 tons per day (TPD) of concrete, asphalt, brick or block and glass cullet. The com-pany basically recycles bridges, highways, roads, driveways, parking lots, etc. and manufac-tures specifi c grade aggregate products for new road and other construction projects like the New Jersey Turnpike widening;

• Bayshore Soil Manage-ment, LLC (BSM): BSM can accept up to 3,000 TPD of non-hazardous petroleum contami-nated soils and operates a low temperature thermal desorp-tion unit. This company oper-ates a rotary kiln technology to treat and essentially sterilize petroleum contaminated soils and then reuses this material in Brownfi eld Redevelopment and other benefi cial use proj-ects;

• Montecalvo Material Recovery Facility (MMRF): This state-of-the-art 1,000 TPD facility accepts mixed construc-tion & demolition debris – bulky waste Type 13 and Type 13C. Through a combination of mechanized material recovery, with meticulous up front re-moval before processing of any materials of concern, MMRF, on average, recovers 83 percent of this material for recycling. Paper, mixed plastic corru-gated cardboard, ferrous and

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GREEN BUILDINGS

AMILTON, NJ — So-lis Partners has com-pleted an installation

of a 198-kilowatt rooftop solar photovoltaic (PV) system at Princetel, a fi ber-optic rotary joint manufacturer based in Hamilton.

The system was designed, engineered and constructed by Manasquan based Solis Part-ners and installed on Prince-tel’s 41,500 s/f facility at 2560 East State St., where the com-pany produces fi ber-optic rotary joints and allied products. Fi-ber-optic rotary joints (FORJs) are key coupling devices in

H

Installed on 41,500 in Hamilton, NJ

Solis Partners installs 198-kilowatt rooftop solar PV system on Princetel’s manufacturing facility

expected to produce approxi-mately 223,182 kilowatt-hours of electricity in the fi rst year of operation. This equates to the reduction of more than 339,284 pounds of CO2 emis-sions, which is the equivalent of offsetting the power demand of 19 residential homes or re-moving 30 cars from the road each year.

Princetel purchased the prop-erty in 2010, which the Envi-ronmental Protection Agency (EPA) categorized as a brown-fi eld . The company undertook major site remediation during which soil from the 3.2-acre lot was removed and replaced, including the soil from under-neath the building.

“Implementation of sustain-able practices and products wherever possible is fundamen-tal to the culture at Princetel,” said Barry Zhang, CEO of Princetel. “Our stakeholders recognize our commitment to environmental stewardship and we are excited to highlight this solar project as a natural extension of it. Beyond the en-vironmental benefi ts, we fi rmly believe the sustainable projects that we have undertaken make sound business sense.”

Following the brownfield remediation, Princetel made significant upgrades to the building, for which it is now seeking Leader in Energy and Environmental Design or LEED “Gold” accreditation, a recognition awarded by the U.S. Green Building Council for the design, construction and operation of high performance green buildings.

LEED initiatives included installing new fl oors made with 100 percent recycled material; a 10,000-gallon rainwater har-vesting system that accumu-lates and stores rainwater for uses such as flushing toilets and irrigation; and an energy-effi cient air conditioning sys-tem. Princetel also has plans for a second phase of retrofi ts, which will include the installa-tion of electric vehicle charging stations.

“Running a successful busi-ness doesn’t mean you have to ruin the environment,” said Zhang. “Rather, it has given me a platform to help it. Thinking holistically about our environ-mental impact is woven into the fabric of our company values and has created a culture for our employees. This has re-sulted in a happy, engaged and more productive team.” ■

Solis Partners, based in Manasquan, NJ, recently completed the installation of a 198-kilowatt rooftop solar photovoltaic system on Princetel’s 41,500 s/f fi ber-optic rotary joint manufacturing facility in Ham-ilton, NJ

winches, robotic vehicles, wind turbines, satellite antennas, high-definition broadcasting systems, medical imaging sys-tems and submarines.

“We’re thrilled to announce the completion of Princetel’s rooftop solar PV system,” said Jamie Hahn, co-founder and managing director of Solis Partners. “The system not only

serves a hedge against New Jersey’s increasing electricity costs, providing a competitive edge in an otherwise tough economy; but it’s also an ex-tension of Princetel’s efforts to integrate sustainability into the company’s corporate DNA wherever possible.”

The Princetel system consists of 932 solar panels, which are



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B

non-ferrous metals, aggregate materials and different grades of wood are recovered, recycled or otherwise repurposed. Clean lumber is marketed for land-scape mulch. Painted wood is mixed with the small fraction of paper, corrugated and plastics and blended to manufacture an engineered biofuel which is used at industrial facilities as a fuel source;

• Coastal Metal Recycling Corp: Yet another of the Bay-shore family of companies, Coastal Metals accepts and re-cycles traditional scrap metal, copper, brass, pipe, aluminum, stainless, wire and steel;

• Dredge Material Pro-cessing: Bayshore also oper-ates under NJDEP approvals for dredged material storage and handling on the Raritan River. The company recently submitted a permit application to allow both in-barge and pug mill stabilization of dredge material with marketing of sta-bilized material for benefi cial use projects such as Brownfi eld Redevelopment;

• Consumer Electronics: In February 2011, Bayshore was approved for the accep-tance of consumer electronics equipment for recycling, in-

cluding: computers (desktops and laptops), monitors, scan-ners, modems, printers, cables, keyboards, televisions and telephones.

• Class-A Recycling Fa-cility: In December 2010, Bayshore was approved to add a 1,000 TPD class A recycling facility. The class-A operation will accept all materials placed curbside by homeowners, busi-nesses and institutions: alu-minum cans; glass bottles and jars; steel and tin cans; plastic milk, water, soda and laundry bottles; newspaper; corrugated cardboard; textiles; and mixed paper (magazines, offi ce paper, junk mail). Bayshore hopes to initiate start-up operations of the Class-A facility in 2012.

• Future Projects: Beyond existing or planned operations, the focus is upon innovative technologies which will use feedstock already processed/generated/permitted at Bay-shore. Examples of technolo-gies currently under review include: plastics to energy pyrolysis, food waste fermen-tation, anaerobic digestion of organic materials to produce heat and energy, tires to fuel technology and various forms of biomass to energy/fuel through gasifi cation. ■

continued from page 21A

Bayshore: The green solution to . . .

URLINGTON COUN-TY, NJ — GeoGenix, a residential and com-

mercial solar installations in the mid-Atlantic region, has announced that it has signed 20 new contracts to install roof-top residential solar systems at Four Seasons at Mapleton, an age-restricted single-family development in the Burlington County.

GeoGenix started install-ing residential systems at Four Seasons at Mapleton in 2007. Including the 20 new contracts, GeoGenix has -- or will have -- installed solar systems on 40 of the 428 homes in the community -- or roughly 10 percent. The installations were made possible through “community solar,” a concept that allows residents to band together to purchase solar for their individual homes at a discount.

“We’re thrilled to announce 20 new projects at Four Sea-sons at Mapleton,” said Gaurav Naik, principal of Old Bridge, N.J.-based GeoGenix. “Hom-eowners hear their neighbors talking about the benefi ts of solar and they want to join in. The savings on electricity, coupled with an appealing price made possible through state and federal subsidies and the ‘community solar’ ap-proach, has solar spreading like wildfi re.”

At the state level, the sys-tems generate Solar Renewable Energy Certifi cates (SRECs), a fi nancial incentive represent-ing the environmental benefi ts of solar, each of which is the equivalent of 1,000 kilowatt-hours of electricity. SRECs, which are generated for the fi rst 15 years of a system’s life, are purchased by utilities from solar producers in order to meet a state-mandated requirement for solar electricity.

At the federal level, system owners receive a 30 percent tax credit for the full cost of the system within the fi rst year.

Many of the homeowners funded their systems through the New Jersey utility Pub-lic Service Electric & Gas’ (PSE&G) solar loan program. The loan is being repaid with the SRECs that the system generates.

Taking state and federal subsidies and the upfront

check from the PSE&G loan program into consideration, the average payback for a resi-dential system is dramatically reduced. Since the lifespan is typically 30 years, this means

that homeowners will generate free electricity for another 20 plus years after the system has paid for itself.

On average, the systems at Four Seasons offset 85 percent of the homes’ energy consump-tion. The total wattage of all the systems that will be installed is about 140 kilowatts, bringing the total wattage of systems to 280 kilowatts. This equates to the reduction of about 428,000 pounds of CO2 emissions per year, which is the equivalent of offsetting the power demand of 48 homes for one year, planting 5,030 trees or removing 36 cars from the road annually.

The receptiveness to solar has changed dramatically from 2007, when GeoGenix sought to install the fi rst solar systems at Four Seasons. At that time, GeoGenix joined with hom-eowners interested in installing solar to challenge a decision by the homeowners association to prohibit solar. That challenge resulted in a state law -- be-lieved to be the nation’s fi rst -- that prohibits homeowners associations from outlawing solar. ■

TRENTON, NJ — In support of the Christie Administration’s commitment to a greener and more affordable use, man-agement and development of energy in the state, the New Jersey Economic Development Authority (EDA) and the New Jersey Board of Public Utili-ties (BPU) today launched the Large Scale Combined Heat and Power (CHP)/Fuel Cell Pro-gram. This competitive grant program was created to support CHP and standalone fuel cell projects serving commercial, institutional and industrial customers in New Jersey.

“Promoting and advancing a more sustainable New Jersey is a top priority of the Christie Administration, and this new program will help to increase energy effi ciency for businesses and reduce energy costs for all New Jersey consumers,” said EDA CEO Caren Franzini.

The program is available to support CHP or standalone fuel cell projects with an electric

New program aims to increase energy effi ciency of buildingsgenerating capacity of greater than one megawatt (MW). New Jersey-based government (fed-eral, state or local), commercial, institutional or industrial enti-ties advancing these projects are eligible. Applications for the program must be submitted prior to the closing of the com-petitive solicitation, which runs from April 25, 2012 through June 25, 2012 at 5:00 p.m.

“The 2011 Energy Master Plan supports the expansion of Distributed Generation and Combined Heat and Power resources to commercial and industrial facilities,” said NJ Board of Public Utilities Presi-dent Bob Hanna. “Such expan-sion will further the objectives of the Christie Administration by driving down energy costs, which will make New Jersey businesses more competitive, and by increasing the use of cleaner fuels which will im-prove the environment.”

To be eligible, CHP systems greater than one MW with

waste heat utilization must achieve annual system effi-ciency of at least 65 percent; fuel cell projects greater than one MW without heat recovery must achieve annual system effi ciency of at least 45 percent. CHP and fuel cell system war-ranties must be all-inclusive for at least fi ve years. Additionally, businesses should create or maintain jobs in New Jersey.

Grants under the program will be awarded under a tiered incentive structure based on the system size and amount of electricity that the CHP or fuel cell project generates, with a maximum award of $3 million per project. Total state and/or federal funding cannot exceed 50 percent of the total project cost. Funding can be used for project-specific, fixed asset purchases. New installations are eligible, as are expansions of existing facilities with new equipment. New equipment must be commercially available and permanently installed. ■


www.marejournal.com Mid Atlantic Real Estate Journal — May 25 - June 7, 2012 — 25A

OWNERS, DEVELOPERS & MANAGERS

ITTSBURGH, PA —Carl Walker Construction, Inc. (CWC), specialists

in parking garage con-struction, de-sign and res-toration, has kicked off the 2012 spring construction season with three major garage projects, all due for completion this year.

Now underway is the de-sign/build garage for Marshall University in Huntingdon, W. Va.; the total restoration of a center-city garage in Latrobe, Pa.; and complete preventive restoration and repair of the UPMC Mercy Hospital garage in Pittsburgh.

The Marshall University structure, according to CWC president Len Tsupros, is bud-geted at $6,775,000 and due for completion in August. With a start date of Feb. 1, 2012, he said, the schedule is “one of our more aggressive efforts. So far, we’re focused on keeping everything running smoothly so we can get the campus parking situation up to speed before school is back in session this fall.”

Budgeted at $11,755,515 and due for completion this year

Carl Walker Construction launches threegarage projects in Western PA and West VA

P

Marshall University in Huntingdon, W. VA

and a complete new sign pack-age. According to White, the target date for completion is mid-August 2012.

Meanwhile, in Pittsburgh, an 8-story garage serving UPMC Mercy Hospital is undergoing a top-to-bottom preventive-main-tenance restoration budgeted at $2,782,770. While working on the garage, the goal is to make sure that there is enough parking for visitors. The ongo-ing project leaves about two thirds of the structure’s 600 spaces available for parking on any given day. “We’re re-rout-ing traffi c inside, making sure that hospital visitors always have someplace to park,” said White.

While the 260,000 s/f 1970s-era garage has been well main-tained, White said, “Cleaning and painting the steel and recoating the concrete, before major repairs are necessary, is saving them money in the long run.” CWC’s tasks include repainting all structural steel and some other surfaces, deck-coating and minor concrete and masonry repairs, replacement of roof-deck guard rails, and new railings and paint in the building’s stair towers. The target date for completion is this December 2012. ■

Len Tsupros

CLIFFSIDE PARK, NJ — Gebroe-Hammer Associates has brokered the $1.625 mil-lion sale of a three-story multi-fam-ily property at 344 Gorge Rd. The bro-kerage team, representing the seller, 344 Gorge Road LLC, and procuring the buyer, a long-time client of the fi rm, included executive vice president David Oropeza and sales associates Debbie

Pomerantz and Nicholas Nicolaou.

“This garden-style apart-ment complex benefi ts from an excellent location,” said Oropeza. “It is convenient to schools, shopping and transportation. In addition, the interiors have all been completely renovated, re-sulting in attractive rental units that are competitively priced.”

Amenities include on-site laundry facilities, parking and central air conditioning. The property is comprised of 11 one-bedroom apartments and

two two-bedroom units. Six of the units also have balconies. According to Pomerantz, aver-age rents for the area range from $1,100 for a one-bedroom to $1,250 for a two-bedroom unit.

Located in southeastern Bergen County on the Hudson River, Cliffside Park is conve-niently situated between the George Washington Bridge and the Lincoln Tunnel. The town is favored by New York City commuters who value the immediate availability of mass transit links, including bus, rail and ferry service.

Numerous shops and diverse restaurants add to the appeal of Cliffside Park’s downtown area.

“ T h e r e n t a l m a r k e t throughout Northern New Jersey is extremely strong, due to the rising rents in New York City, where tenants are priced out of that multi-fam-ily market, and a willingness among commuters to pay the asking rents in Bergen, Passaic, Hudson and Essex counties in order to have easy access to Manhattan,” said Nicolaou.

During 1Q’12, Gebroe-

Hammer orchestrated sev-eral transactions in Bergen County. Highlights include the trades of Phelps-Ivy, a three-story, 14-unit complex in Englewood, and the sale of 39 units at 30 Euclid Ave., a four-story Hackensack property, which sold for the per-unit price of $118,000 at a 5.75 percent cap rate.

Legal counsel for the Gorge Road sale was provided by J. Alvaro, Esq., of Alonso & Na-varrette of North Bergen and Mark Sokolich, Esq., in Fort Lee, on behalf of the seller and buyer, respectively. ■

Investment market offers strong occupancies and proximity to NYC

Gebroe-Hammer Associates arranges sale of 13 fullyrenovated multi-family units in Cliffside Park, NJ

At 145,000 s/f, the six-story Marshall structure will fit 415 parking spaces into the footprint of a former 50-space surface lot. The pre-stressed precast concrete garage will include two glass elevator/stair towers, and is designed to ac-commodate future expansion to the north of the site.

In western Pennsylvania,

CWC VP Joseph White is man-aging another design/build project, the rehabilitation of Latrobe’s sole downtown parking garage budgeted at $2,197,745. In February, 2012 CWC subcontractors began demolition of 46,000 s/f about 60 percent of the structure’s 82,000 s/f supported deck. The project engineer is CWC

design-build expert Charles Churches.

After installing new rebar and re-pouring the deck on all four levels, crews will repaint the structural steel, coat all deck surfaces and replace the existing elevator and stair tower. The Latrobe project’s scope also includes replacement of all plumbing and lighting

David Oropeza


26A — May 25 - June 7, 2012 — Owners, Developers & Managers — Mid Atlantic Real Estate Journal www.marejournal.com


hy is project man-agement important and what awesome

power exists with project management i n t o d a y ’ s business en-vironment?

The f i r s t reasons that come to my mind about why project management is important (based upon more than 35 years of personal proj-ect management experience), are tighter budgets, diminish-ing resources, more and more

By J. Glenn Ebersole, Jr., P.E., Hollenbach Const.

The importance & awesome power of project management

time constraints, and competi-tion to improve the ways we do business.

The awesome power of project management makes it possible to focus on priorities, track and measure performance, over-come challenges and problems, become fl exible enough to adapt to change and achieve higher performance and a higher probability of success in each project.

What do we mean by project management? Project man-agement is a discipline and a process. It is a set of tools and techniques that defi ne a project’s goals, plan all work to

reach the goal, lead the project and support teams, monitor progress and optimize the use of resources (time, people, money, etc.) in order to reach and exceed the customer’s ex-pectations from that project.

What is special about project managers? Project manag-ers need to be very skilled in the management of commu-nications, human resources, procurement, quality, time, cost, documentation, systems integration, etc.

Project management is very important in today’s business environment when one con-siders the consequences of the absence of good project management or when project management is poorly applied to projects. Here are some of the consequences that can be expe-rienced with the lack of or poor project management: missed deadlines, cost overruns, poor workmanship, confl icts among team members, redoing work to correct errors, unclear direc-tions for the project, continuous changes in project scope, forgot-ten key tasks, poor morale of team, duplication of effort, etc. Because of these potential con-sequences, project management is critical to a project’s success. Effective project management will help: meet or exceed cus-tomer expectations, maximize the use of your resources (time, people, money, space, etc.), bring the project to a successful conclusion on time and within budget, document what was done for any need of future ref-erence, and build confi dence in your team for future projects.

Glenn Ebersole is director of strategic business devel-opment and a member of the strategic leadership team at Hollenbach Construction, Inc. in Boyertown, PA. ■

W

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MARLTON, NJ — Hill In-ternational has received a contract from the U.S. De-partment of State to provide worldwide cost estimating services.

Hill’s contract will pro-vide the State Department with professional services including cost estimating for facility and infrastructure as-sessments, planning studies, requirement analyses, risk assessments and life-cycle costing. ■

Hill Int’l. provides services to the U.S. Dept. of State


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www.marejournal.com Mid Atlantic Real Estate Journal — Owners, Developers & Managers — May 25 - June 7, 2012 — 27A


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asier to Forecast than the Weather: Today, the “Baby Boomers” are

taking care of their ag-ing parents themselves, or arranging for “in home care” from outside pro-viders.

Many are c a r e f u l l y placing their 85 year old par-ents in assisted living fa-cilities. Our aging population continues to grow and will soon explode with 78.2 mil-lion “Baby Boomers” begin-ning to retire this year. This sharply increased need, that will continue to grow for the next thirty years, will result in an extraordinary challenge to “get it right”, before our so-ciety is inundated with senior citizens, all needing some level of care and assistance.

Pitfalls to be Avoided: When any market experiences a sharply increased need, as the one forecasted for senior care, inexperienced newcom-

By Richard B. St. Maur III, Coordinated Project Solutions

The senior care marketplace is constantly evolving

practices of design, construc-tion, care-giving programs and management, to all of the members of the team re-sponsible for the best possible outcome. These leaders must be aware that the needs and wants of these senior residents will constantly be evolving.

Medicine and technology are constantly improving. Phi-losophies and methods of care continue to develop. These leaders must be proactive in managing and implement-ing these changes, as well as keeping an ear to the ground to follow the next generation of improvements that will begin to sprout.

Better care, provided in im-proved facilities, at lower costs, should be the constant, main goal, relentlessly pursued. It is imperative that one always goes the extra mile to exceed expectations, in order to suc-ceed. Success, in this case, can be defi ned as: the progressive realization of pre-determined, worthwhile goals.

The Rewards: You can-

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ers are attracted by the op-portunity to make money. One of the problems that this scenario creates is this: when the minimum required, is the maximum provided, the result is mediocrity. No one wants to place their loved one in a mediocre facility. Here is an example to illustrate this problem: when hurricane An-drew hit Florida in 1992, there was an instant need for more building contractors than those existing at that time. So, everyone who could swing a hammer, became a “General Contractor” overnight!

The quality of construction was so poor that the State was forced to write a new, much more stringent building code, and institute a three day se-ries of tests in order for anyone to qualify for a Florida state li-cense. Hind sight is 20/20. Let this not happen in the senior care industry.

The Challenges: The ex-perienced professionals in this fi eld of Senior Care, must take leadership roles, now, to improve the systems being used to communicate the best

Richard B.St. Maur III

continued on page 35A

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OWNERS, DEVELOPERS & MANAGERS SPOTLIGHT

CONTRACTORS/SUBCONTRACTORS

ssociated Builders and Contractors (ABC) is a national association

with 74 chapters representing 22,000 merit shop construc-tion and construction-related fi rms with nearly two million employees. ABC’s membership represents all specialties within the U.S. construction industry and is comprised primarily of fi rms that perform work in the industrial and commercial sec-tors of the industry.

ABC is the construction in-dustry’s voice with the legis-lative, executive and judicial branches of the federal govern-ment and with state and local governments, as well as with the news media.

74 chapters representing 22,000 merit shop fi rms

There is no better timeto join an ABC ChapterA

ABC’s mission is the ad-vancement of the merit shop construction philosophy, which encourages open competition and a free-enterprise approach that awards contracts based solely on merit, regardless of labor affi liation.

Through its national offi ce and chapters, ABC’s objective is to provide its members with an organization to deal with issues on an industry-wide basis.

ABC’s activities include gov-ernment representation, legal advocacy, education, workforce development, communications, technology, recognition through national and chapter awards programs, employee benefi ts, information on best practices

and business development through an online contractor search directory.

ABC was founded in 1950 when seven contractors gath-ered in Baltimore, MD to create an association based on the shared belief that construction projects should be awarded on merit to the most qualifi ed and responsible low bidders. Their courage and dedication to the merit shop philosophy spread rapidly, and within time, ABC became the fastest-growing as-sociation in the United States. Today, ABC is recognized as one of the leading organizations representing America’s busi-ness community and the merit shop construction industry.

ASA Vision: The American Subcontractors Association is recognized as the united voice dedicated to i m p r o v i n g the business environment in the con-struction in-dustry.

The American Subcontrac-tors Association amplifi es the

The construction industry environment

ASA: the united voice dedicated to improving

voice of and leads trade contrac-tors to improve the business environment for the construc-tion industry and to serve as a steward for the community.

ASA Values: The ideals and beliefs of ASA are ethical and equitable business practices, quality construction, a safe and healthy work environment, integrity and membership diversity.

Why Join ASA?

There are numerous ben-efi ts to membership in ASA of WPA. We invite you to read

ASA of Western PAwww.asawpa.org

our mission statement and goals, below, which outline the many reasons why member-ship in ASA of WPA is enjoy-able and rewarding.

ASA of Baltimorewww.asa-baltimore.com

American Subcontractors Association (ASA) of Bal-timore, a non-profit trade association, was established June 12, 1967 to address the business problems that affect subcontractors of all trades. We are a chapter of the Ameri-can Subcontractors Associa-tion, which is headquartered in Alexandria, VA

As of June, 2010 the Bal-timore chapter listed 123 companies as members. About 76% of those companies were subcontractors and/or manu-facturer/suppliers of construc-

tion products and equipment. The other 24% of our mem-bers provided professional services to the subcontractor. ASA members are both union and non-union contractors and include all of the special-ties, from excavation through roofi ng. We do not concern our-selves with technical matters or labor relations -- we leave that to the specialty trade groups. Our emphasis is on helping our members run their business more effectively and profi tably.

ABC of New Jerseywww.abcnjc.org

ABC education programs at no cost to your company

You can have your NJ em-ployees trained, at no charge to your company, in computers, mathematics, verbal and writ-ten communications and Eng-lish as a second language.

The NJ ABC is utilizing training resources provided

by the New Jersey Commu-nity College Consortium for Workforce and Economic De-velopment. Community Col-leges across the state have programs available with NO COST TO YOUR COMPANY . In order to participate in these courses, you must be a New Jersey based employer, and only full time NJ employees

can attend the training.

The courses are NO COST TO YOUR COMPANY, how-ever, the employer must pay the employee to attend. The NJ Department of Labor and Workforce Development tracks training using social security numbers – SSN’s must be pro-vided.

ABC of Eastern PAwww.abceastpa.org

The Eastern Pennsylvania Chapter of ABC represents more than 500 members and is one of the leading chapters in the country. Our members are located in Philadelphia, Bucks, Montgomery, Chester, Delaware, Lehigh, Northamp-

ton, Carbon, Monroe, Luzerne, Pike, Wyoming, Lackawanna, Wayne, and Susquehanna Counties. Schuylkill and Berks Counties are shared with the ABC Keystone Chapter. We believe construction contracts should be awarded to the low-est responsible bidder.

We help our members grow by ensuring that merit con-tractors can compete freely and openly in the marketplace. Through our efforts we hope to help our members build better companies and build better lives.

ABC of Central PAwww.abccentralpa.org

The Central Pennsylvania Chapter offers our members many opportunities to promote their services:

Business referral through the Chapter and other members.

The Chapter’s User’s Guide published and distributed on an annual basis.Varied opportunities for net-working at:• Dinner and Committee Meet-

ings • Seminars and Workshops • Various Social Events.• Legislation-Government Re-lations

ABC maintains a visible presence at all levels of govern-ment.

ABC’s National Government Regulations department moni-tors legislation and regulations in Washington, D.C., alerting

ABC members of matters that impact their businesses and the construction industry as a whole. ABC members give testimony and lobby for legisla-tion and regulations that affect the Merit Shop Philosophy. Our National Legislative Confer-ence gathers ABC members from all parts of the country to carry our message to Capitol Hill.

The New Jersey Subcon-tractors Association (NJSA), founded in October 1968, is a non-profi t, membership, trade association representing sub-contractors, specialty trade contractors and suppliers. NJSA is the only New Jersey construction association that concentrates exclusively on the business issues affecting all subcontractors, specialty trade contractors and suppliers. NJSA emphasizes needed reforms on such issues as prompt payment, retainage, surety bonding, lien rights, bidding practices and entitlement to payment.

NJSA concentrates issues affecting all subcontractors, specialty trade

contractors & supplierswww.njsubcontractors.org

NJSA consists of close to 200 individual fi rm members representing a broad cross section of specialty trade sub-contractors throughout New Jersey. NJSA members work in electrical, mechanical, dry-wall, plaster, steel, masonry, painting, concrete, plumbing, roofi ng, excavating and nearly every other specialty trade in the construction industry. Members are also suppliers to the construction industry such as insurance, consulting & ma-terials, - almost every construc-tion industry need is offered through other members.


http://www.asawpa.org

http://www.asa-baltimore.com

http://www.abcnjc.org

http://www.abceastpa.org

http://www.abccentralpa.org

http://www.njsubcontractors.org

30A — May 25 - June 7, 2012 — Owners, Managers & Developers — Mid Atlantic Real Estate Journal www.marejournal.com

CONTRACTORS/SUBCONTRACTORS

Lundt Combustion Systems are Engineers, Designers and Manufacturers of Combustion Equipment and Systems for both

Commercial and Industrial Applications.

SYSTEMSHeating Controls

Combustion SystemsBurner Management

Steam Heat ConsultingEnergy Management Systems

AD 2000™ Temperature Control

Lundt Combustion Systems, Inc. Phone: 973-822-2090

Fax: 973-377-8753www.lundt.com

Working with only the finest products available, we have been serving our clients since 1945

Providing a constant temperature inside your building for all weather conditions.

By monitoring average building temperature and precisely scheduling setpoints, fuel consumption may be reduced by as much as 30%.

RIDGEWATER, NJ — River Drive Con-struction completed a

renovation project for a new Provident branch in Bridge-water.

River Drive, which served as general contractor, com-pleted an interior fi t-out for the 3,070 s/f bank branch at 477 Union Ave. (Route 28). The fit-out included new storefront entrances, acous-tic ceilings, partitions, mill-work, porcelain tile, lighting and carpet flooring. Con-struction began in January 2012.

Included new storefront entrances, acoustic ceilings, partitions and millwork

River Drive Construction completes interior renovation project for Provident Bank

BThe new Provident branch,

which is located near the intersection of Finderne Av-enue and Route 28, opened on April 21. It occupies an end unit of a strip retail center that includes a Su-percuts hairstyling salon and the House of Wong Chinese restaurant, as well Dunkin’ Donuts located at an adja-cent building. Currently, The Provident Bank is located about a mile east on Union Avenue.

“We’re thrilled to announce the completion of the Bridge-water renovation,” said Jo-

seph Langan, president of River Drive. “We congratu-late Provident on their new facility.”

River Drive has a wealth of experience with interior fi t-outs for fi nancial institu-tions, which includes projects for Equity One, Wachovia Bank and Spencer Savings Bank. In addition to gen-eral construction and fi nan-cial center fit-outs, River Drive provides construction and consulting services to developers, management companies, end users and corporations in New Jersey, New York and Pennsylvania in sectors including science and technology, restaurant and hospitality, institutional, healthcare and retail.

The project was part of a re-branding program that in-cluded the renovation of eight branches last year, with eight more expected for 2012. River Drive was recently awarded another Provident fi t-out as part of the bank’s redesign of its branch network. This renovation project will be for the Provident Bank branch located in Kearny.

“As part of a re-branding program we wanted all of our banks to appear the same,” said Frank Parzel, fi rst vice president of The Provident Bank. “River Drive Construc-tion, utilizing its expertise in bank renovations, did a terrifi c job in doing so, all the while keeping on sched-ule and within budget. We are looking forward to River Drive serving as general con-tractor for the renovation at our facility in Kearny.”

DMR Architects served as the architect.

Linwood Engineering As-sociates served as the engi-neering design fi rm. LEA is a consulting engineering fi rm specializing in the design and coordination of heating, venting and air conditioning (HVAC), electrical, plumbing and fi re protection building systems for over 25 years.

The subcontractors on the project were New Jersey Business Suppliers, which provided the physical se-curity products; NorthStar Security, which designed and installed the security system; and Technology Systems, which designed and imple-mented the phone and data technology. ■

Provident Bank interiorphoto credit: DMR Architects.


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www.marejournal.com Mid Atlantic Real Estate Journal — Owners, Managers & Developers — May 25 - June 7, 2012 — 31A

New Jersey Apartment Associationwww.njaa.com

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ABC contractors presented STEP awards for company safetyTwenty-nine ABC Delaware member contractors were presented with 2012 ABC

National Safety Training and Evaluation Process Awards or STEP Awards.“The STEP award program provides an organized approach to analyze and further

develop your company’s safety and loss prevention program and provides a vital, objective method to measure safety program improvements,” said ABC Delaware President Ed Capodanno. “STEP award certifi cates are given for bronze, silver, gold, diamond and platinum for an evaluation process that includes about two dozen safety aspects.”

This year’s winners are:Silver Award Winners: Commonwealth Fire Protection, County Group, Guardian

Construction, Nowland Associates, Quality Heating & A/CGold Award Winners: Bancroft Construction, Custom Iron Shop, Drwall, Inc,

Eastern Industrial Services , Ehret Construction, GGA Construction , J.F. Sobieski Mechanical, Pearce and Moretto, RC Fabricators, Service Unlimited, Spacecon, Tricon Construction Management, Wohlsen Worth & Company,

Platnium Level: DiSabatino Construction, Farrell Roofi ng, George & Lynch, M. Davis & Sons, Nason Construction, Nickle Electrical Company, The Tri-M Group, Wayman Fire Protection

Diamond Level: Color Works Painting, KBR Building Group

Color Works Painting wins ABC National Safety Excellence Award

For the second time in three years, Color Works Painting has won the ABC National Safety Excellence Award.

“This award recognizes companies whose safety performance and programs are judged to be exemplary by the ABC National Environment, Health & Safety (EH&S) Committee,” said ABC Delaware President Ed Capodanno. “Awards are based on data submitted via STEP Platinum applications, company interviews and site visits. Award categories are based on a company’s total work-hours per calendar year. We are pleased to recognize Sean Histed and his company for this award, which was originally announced during the ABC National convention in February.”

ABC honors students & safety winners at May dinner meetingABC Delaware’s annual Student & STEP Award dinner was held May 3 at the Whilte Clay Creek Country Club in Newark and featured honors for the future leaders of the

construction industry, companies who keep safety in the forefront and an economic update on the fi rst state with DEDO Secretary Alan Levin.“This program is about today’s safety efforts and tomorrow’s leaders,” said ABC Delaware President. “Our CEFD Scholarship winner and the six student winners from the vo-

tech schools in New Castle County are our next generation of leaders and we are proud to honor them all.”

Hodgson Vo-Tech’s Emrey wins CEFD scholarshipThe ABC Delaware Trade Show moved to a new location this year and according to many vendors, the move was a great choice.“Thanks to the trade show team of Jeff Torrance, Susie Draper and Paul Brownmiller, for putting together another show,” said ABC

Delaware Chairman John Gooden. “This is always popular event. Thanks to all our vendors and the members who turned out to once again support ABC Delaware.”

“This year’s winner of the CEFD scholarship is Max Emrey,” said ABC Delaware President. “Max is a senior at Hodgson Vo-Tech and will graduate 10th out of 248 graduates with a 3.75 grade point average. He’ll be attending Cecil Community College in the fall and will major in Civil Engineering.

“Max was a member of the ABC Student Chapter for the past 3 years as well as a member of the baseball team at Hodgson and and serves on the school’s Sportsmanship Committee. He has participated in volunteer activities with Easter Seals, the Tug McGraw Foun-dation for Cancer and Big Brothers/Big Sisters. Max is also a member of the National Honor Society and has had perfect attendance at Hodgson. CEFD is honored to present Max with this year’s scholarship.”

Construction Education Foundation of Delaware is a 501 C3 subsidiary of ABC Delaware. The mission of CEFD is to assist the con-struction industry’s educational and training needs by offering scholarships to qualifi ed construction education students.

The scholarship program is for students graduating from high school who are continuing their education at a post secondary institu-tion in a construction related fi eld. The scholarship is available to dependents of employees who work for an ABC Delaware member or graduating vo-tech students who are a member of an ABC Delaware student chapter.

Applications are accepted by CEFD, and interviews with the fi nalists are conducted by a subcommittee of the ABC Careers in Construction committee. The scholarship winner receives $1,000. The winner can apply every year for an additional $1,000 as long as they are still in a construction related major and carry a 2.75 GPA.

Associated Builders and Contractorswww.abc.org

ABC Delaware Chapter

DEDO Secretary Alan Levin (left) &ABC Careers in Construction Co-

Chairman Ken Adams congratulate CEFD Scholarship winner Max Emrey.

Vo-Tech students honored for schoolwork & co-op workThe ABC Delaware Careers in Construction Committee is pleased to announced

the six winners of this year’s student awards from the New Castle County Vo-Tech School District. These awards are given to a student enrolled in the construction trade curriculum that has shown outstanding academic achievement and completed a successful co-op program with an ABC Member. Each individual receives a tool bag and a gift certifi cate for $250 to a local supply house for them to purchase tools that can help them get started in the construction industry.

An award is given to a student at Howard and St. George’s and 2 students at Delcastle and Hodgson.

School Winner ABC MemberHoward Jeremy Dearth, Carpentry SpaceconHodgson Christopher Huhn, Electrical Nickle Electric Brett Harris, Millwright M. Davis & SonsDelcastle Wayne Saunders, Welding RC Fabricators Christian Tabares, Tech Drafting BSA+A St. George’s Chris Dale, Plumbing Merit Mechanical

Spacecon’s Tom Dilley (left) and DEDO Secretary Alan Levin congratulate Jeremy Dearth of Howard.

Steve Dignan of Nickle Electrical Companies (left) and DEDO Secretary Alan Levin congratulate

Christopher Huhn of Hodgson.

Todd Moran of M. Davis (left) and DEDO Secretary Alan Levin congratulate Brett Harris of Hodgson.

Carl Bouldin of RC Fabricators (left) and DEDO Secretary Alan Levin congratulate Wayne Saunders

of Delcastle.

ABC Delaware 2012 Chairman John Gooden (left) and DEDO Secretary Alan Levin congratulate

Christian Tabares of Delcastle.

Merit Mechanical’s Rick Rettig (left) and DEDO Secretary Alan Levin congratulate Chris Dale of St.

George’s.

ABC Delaware Chairman John Gooden (left) with Travis Histed (center) and Sean Histed

of Color Works Painting.


http://www.abc.org


Construction Jobs | Construction Staffi ng

They’re standing on a concept called merit construction. This meansboth merit and union craftspeople work side-by-side.

Contractors are chosen on merit, those who offerthe best skills get the jobs. Being open to newideas like multi-skills work teams, newtechnology and advanced constructiontechniques, merit contractors are able to

construct high-quality buildings that are highly cost-efficient. Meritcontractors bring highly skilled jobs with competitive wages to ourcommunity. Today, 4 out of 5 people in construction are employedby merit contractors. If you are planning a construction project, findout more about merit contractors. We don’t just construct betterbuildings. We build a stronger economy and a better quality of lifefor this community.

7 out of 10constructionprojects arestanding onsomething

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MERIT CONTRACTORS. BUILDING A BETTER LIFE.Ed CapodannoABC Delaware302-328-1111ecapodanno@abcdelaware.comwww.abcdelaware.com

Jeff ZehABC Eastern Pennsylvania [email protected]

Construction Industry Organization

Associated Builders and Contractorswww.abc.org

Zeh retires from ABC Eastern Pennsylvania Chapter

After 13 years as president and CEO of the leading merit shop construction association in the region, Jeff Zeh is retiring from Associated Builders and Contractors Eastern Pennsylvania Chapter (ABC) on July 1.

“Our chapter has been fortunate to have Mr. Zeh at the helm for the last 13 years,” said Mark McMahon, 2012 ABC Eastern Pennsylvania Chapter chairman and Vice President at Delran Builders. “From fi ghting against unfair, discriminatory proj-ect labor agreements and responsible contractor ordinances to establishing daytime apprenticeship training, his leadership has helped us accomplish much for open shop contractors.”

Zeh joined ABC in 1999 as president and chief executive offi cer and directs a staff of nine professionals. Under his guidance, ABC built a state-of-the-art headquarters in East Norriton, and purchased and established a successful craft training center in Kulpsville. Most recently, Zeh lead the con-solidation of the former ABC Eastern Pennsylvania Chapter based in Allentown and the former South-east Pennsylvania Chapter based in East Norriton into the new ABC Eastern Pennsylvania Chapter which represents 17 counties in eastern Pennsyl-vania, from the New York border to the Delaware line. Zeh is the presidents’ liaison to the ABC National Grassroots Committee and is a member of the multi-chapter state peer group.

Mary Tebeau of Blue Bell has been selected as president and CEO effective June 1. Tebeau joins ABC Eastern Pennsylvania Chapter after 11 years as president of the ABC Central Ohio Chapter.

Jeff and Chrys Zeh were joined by more than 100 ABC members and leaders at a retirement party celebrating Jeff’s 13 years of leadership at ABC Eastern PA Chapter.

ABC Eastern Pennsylvania Chapter

PA Carpenter Places at National Craft Championship

With hammer swinging, Gregory Patton of Stowe (shown right) last month competed against carpenters from across the country and earned third place in residential/commercial carpentry in the Associated Builders and Contractors (ABC) Craft Championship.

“I really appreciated the chance to participate in this year’s craft competition and I am very grateful to my employer, Zebby Sulecki, for this opportu-nity,” said Patton. “It was a great experience and I credit the ABC Apprenticeship Trust and my on the job training for developing my skills.”

During the two-day event in San Antonio, competitors fi rst took an intense, two-hour writ-ten exam and then competed in daylong hands-on practical performance tests in their craft. Shane Mills representing Klover Contracting of Quakertown also competed in carpentry and Brian Menszak from Universal Electrical Service, of Souderton, competed in the electrical category.

Patton works full-time as a carpenter at Zebby Sulecki, Inc., a Newtown Square-based company that excels at painting, wallcovering, acoustics and drywall. He attended classes one day per week at ABC Eastern Pennsylvania Chapter’s Apprenticeship Trust Center in Harleysville. The Trust’s curriculum is a combination of classroom instruction and hands-on learning that prepares students to be journey-level craft workers.

Upcoming EventsExit Planning Executive Briefi ng, June 5, East Norriton Offi ceNEC Code Update and Study for Masters License, June 6, Training CenterLeadership Skills for the New Manager, June 7, Klover ContractingFall Protection, June 8, Training CenterGolf Outing, June 11, Philadelphia Cricket Club


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EPTUNE CITY, NJ — Cowleys Termite & Pest Services is

now a certi-fi ed installer of TAP Pest Control Insu-lation.

TAP is a cellulose fi-ber insula-tion that is t reated to produce insulation that is fi re-retardant, environmentally friendly (87% recycled news-print), and that provides an effective pest control barrier. TAP Pest Control insulation is

A cellulose fi ber insulation

Cowleys Termite & PestServices now installs TAP

the fi rst product in the build-ing materials market that augments the proven benefi ts of stabilized cellulose insula-tion with a unique pest control component.

TAP insulation can be used in both new construction and retro-fi t applications. If your existing insulation is not dam-aged, TAP can be installed right on top of your existing fi berglass or cellulose insula-tion giving an added layer of protection as well as to block convection loops associated with fi berglass insulation. “We are so excited about adding this new service to our busi-

ness offerings and to be able to help customers reduce pests in their attic as well as save money on energy bills.” said owner, Bill Cowley.

TAP offers three benefi ts of insulation in one new, safe, and effective product: Thermal Benefi ts (T); Acoustic Benefi ts (A); and Pest Control Benefi ts (P). The fundamental job of any insulating product is to keep the warmth in during winter and the cool in during the summer.

Often, the insulation pays for itself within a year or two from reduced monthly utility costs. ■

Bill Cowley

N

EAST NORRITON, PA — As-sociated Builders and Contrac-tors Eastern Pennsylvania Chapter (ABC) signed a new Partnership Agreement with the Philadelphia, Allentown and Wilkes-Barre Occupational Safety and Health Administra-tion (OSHA) offi ces at its Train-ing Center in Harleysville.

“ABC members are commit-ted to providing a safe work-place for our employees,” said Wayne Elk, ABC safety com-mittee chairman and safety manager at Boro Construc-tion in King of Prussia. “The OSHA Partnership and men-tor events provide valuable education and training to help us reduce or eliminate jobsite accidents.”

This new agreement con-tinues a relationship with the local offi ces of the federal agency that began with the execution of the Chapter ’s fi rst partnership agreement

ABC Eastern PA Chapter and 3 Regional OSHA offi ce sign partnership agreement

in 2001. Since then there has been a measurable reduction in workplace injuries among the participating companies.

In 2006, with 17 member companies participating, ABC reported 118 incidents and a collective 4.7 Days Away, Restricted and Transferred (DART) rate. Today, with 26

companies participating, ABC has reduced incidents to only 58 with a DART rate of 2.3.

“Our partnership with ABC has produced exceptional re-sults,” said Scott Shimandle, compliance assistance offi cer with the Allentown OSHA of-fi ce. “It is rewarding to know that together we are elimi-nating hazards in the work-place.”

The OSHA Partnership is based on ABC’s nationally recognized Safety Training and Evaluation Process (STEP) assessment and award. The OSHA Partnership has also been a source of free safety training for all ABC members through quarterly mentor events. ABC’s next OSHA mentor events will focus on fall protection and are scheduled for June 8 at the ABC Train-ing Center in Harleysville and July 26 at the ServPro offi ce in Allentown. ■

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APITOL HEIGHTS, MD — UIP announces the $3.5 million reno-

vation of 231-unit Hillside Heights Apartments complex in Capitol Heights.

Located on the 5200 block of Marlboro Pike is located min-utes from Joint Base Andrews Naval Air Facility, Suitland Federal Center, and Joint Base Anacostia Bolling.

The year-long renovation pro-vided Hillside Heights apart-ments with new patio and deck railings, patio slider doors, win-dows, fl oors, air conditioning unit pads and enclosures, and laundry equipment in most of the units. Kitchens feature new appliances, fl ooring, and gran-ite countertops. On the proper-ty’s spacious grounds, there are new barbeque stations, light-ing, fencing, and landscaping, as well as improvements to the swimming pool and children’s playground.

“Hillside Heights is a conve-nient, affordable place to live, and we invite people to take a look at our new, furnished mod-els,” said Wout Coster, principal of UIP. “We are proud to sup-port our neighbors serving at Joint Base Andrews Naval Air Facility as well as others in military and public service, and are pleased to offer substantial rental rate discounts to these workers.” ■

231-units in Capitol Heights, MD

UIP completes $3.5m reno. of Hillside Heights Apartments C

not give from an empty cart. Therefore, one must not only continue to improve the value of the services provided, they must also be provided at ever decreasing costs, and at higher margins of profi t, in order to support the ongoing research required to continually pursue improvement in all facets.

For those who can conjure up the vision to succeed in this challenging fi eld, the rewards will be many.

To take on a major role in a fi eld that has an exploding need, and help to create a bet-ter place for our loved ones to live, their families to visit, and their caregivers to work, is a worthy aspiration, indeed!

Richard Benson St. Maur III is managing member of Coordinated Project Solu-tions, LLC. ■

continued from page 28A

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The New JerseyCarpenter Contractor Trust

www.njcct.org.

Communication: The Key to Carpenter & Contractor SuccessFor real-estate developers in New Jersey who need qualifi ed and reliable workers for their projects, there is good news. The carpenters of tomorrow are here today, prepared to help you solve those seemingly endless construction problems. The “typical” union carpenter today brings with him or her a degree of skill, education and outlook that refl ects the growing sophistication of our construction industry. Today’s union carpenter might still complete the renovation of a retail store, or you might fi nd him handling the complexities of building a nuclear power plant or employing green building initiatives and technologies in ever-more tightly constructed, environmentally sound buildings.Supporting the union carpenter is a management team that expects and looks forward to working with developers in a collaborative spirit, on every project.“We understand that developers are under tremendous pressure to meet building and zoning requirements, and they face the added pressure of budget, deadlines and unexpected problems,” says Troy Singleton, President of the New Jersey Carpenter Contractor Trust. “We make it a priority to work in a cooperative spirit with our developers to ensure that we not only understand their concerns but that we deliver what we promise.”A union contractor and his highly trained workforce will provide the skill, experience and dedication to every project, allowing the developer the added comfort of knowing the project will fi nish on time and on budget, Singleton says. He also stresses that in addition to the higher skill level and experience that union carpenters demonstrate; they are also meticulous about following safety procedures that prevent injury on a project, thus protecting workers, property and schedules.

Singleton explains that real estate professionals will fi nd a thriving, cooperative spirit when working with union carpenters and contractors. “We see labor and management as value-added partners,” says Singleton. By embracing this perspective, all parties involved are much closer to a positive and successful conclusion for every project, he says.The key to the successful completion of a project by developers and union contractors rests on a simple but time-proven formula: good communication.It might seem simple, but it is not simplistic. “The very act of initiating and maintaining good communications is the fi rst step of demonstrating honesty and good will, the foundation of every successful enterprise,” says Singleton. By carefully listening to the builder’s needs and working in conjunction with the experienced pool of union carpenters available throughout the state, this team approach is your best guarantee for a successful project from beginning to end.”

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www.marejournal.com Mid Atlantic Real Estate Journal — May 25 - June 7, 2012 — 39A

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MAY 29 – CIANJEvent: Bruce G. Siminoff LegislativeOne-On-One DinnerTime: 5:30 PM – 8:00 PMLocation: Nanina’s In The ParkAddress/City: 540 Mill St., Ste. 105, Belleville, NJCost: $135 Members $195 NonmembersP: 201-368-2100www.cianj.org

MAY 30 – CREW PITTSBURGHEvent: Connect With CrewTime: 5:00 PM – 6:30 PMLocation: ElementsAddress/City: Four Gateway Cntr.,444 Liberty Ave., Pittsburgh, PAP: 412-370-5070www.crewpittsburgh.org

MAY 31 – ULI PHILADELPHIAEvent: Focus on Kensington-SummerTour & Happy HourTime: 4:00 PM – 7:30 PMLocation: Frankford HallAddress/City: 1210 Frankford Ave.,Philadelphia, PACost: $35 Members $50 NonmembersP: 800-321-5011www.philadelphia.uli.org

JUNE 4 – BOMA PHILADELPHIAEvent: Golf OutingTime: 11:00 AMLocation: Philmont Country ClubAddress/City: 301 Tomlinson Rd.,Huntingdon Valley, PAP: 215-567-1775www.bomaphila.com

JUNE 4-7 – CCIMEvent: CI 104: Investment Analysisfor Commercial InvestmentLocation: Brandywine Realty TrustAddress/City: 555 E. Lancaster Ave.,Ste. 100, Radnor, PAP: 610-416-2970 E: [email protected]

JUNE 6 – ABC BALTIMOREEvent: ‘Getting to Know’ ABCTime: 8:30 AM – 10:00 AMLocation: ABC BaltimoreAddress/City: 1220B E. Joppa Rd.,Suite 322, Towson, MDP: 410-821-0351 Ext. 113E: [email protected]

JUNE 6 – CREW LEHIGH VALLEYEvent: The Art of NetworkingTime: 8:30 AM – 10:00 AMLocation: Lehigh University –University Center Faculty RoomCost: Members & Invited Guests Freewww.crewlehighvalley.org

JUNE 6 – ULI BALTIMOREEvent: Communications Committee MeetingTime: 8:30 AMLocation: SPINAddress/City: 3100 Elm Ave., 1st Floor West,Baltimore, MDP: 410-889-4112www.baltimore.uli.org

JUNE 7 – ULI PHILADELPHIAEvent: Global MarketplaceTime: 7:30 AM – 5:00 PMLocation: The Union LeagueAddress/City: 140 S. Broad St., Philadelphia, PAP: 800-321-5011www.philadelphia.uli.org

JUNE 7 – SIOR NJEvent: Golf OutingTime: 11:30 AMLocation: Essex Country ClubAddress/City: 350 Mt. Pleasant Ave.,W. Orange, NJwww.siornj.com

JUNE 8 – SCBPEvent: Sustainability-The New Competitive EdgeTime: 8:00 AM – 12:15 PMLocation: Raritan Valley Community CollegeAddress/City: North Branch, NJCost: $35 Members $50 NonmembersP: 908-218-4300www.scbp.org

JUNE 11 – ABC EPAEvent: Annual Golf OutingTime: 9:00 AMLocation: Philadelphia Cricket Club-Militia Hill CourseAddress: 401 Stenton Ave.,Plymouth Meeting, PAE: [email protected]

JUNE 11 – CIRC DEEvent: Annual Golf OutingTime: 11:00 AMLocation: DuPont Country ClubAddress/City: 1001 Rockland Rd.Wilmington, DEP: 302-633-1705 E: [email protected]

JUNE 11 – IOREBAEvent: 43rd Annual Golf & Tennis OutingTime: 11:00 AMLocation: Essex County Country ClubAddress/City: West Orange, NJE: [email protected]

JUNE 13 – ICREW NJEvent: 30 Years StrongTime: 6:00 PM – 8:00 PMLocation: Liberty HouseAddress/City: 76 Audrey Zapp Dr.,Jersey City, NJCost: $85 Members $110 GuestP: 609-585-6871 E: [email protected]

JUNE 13 – ICSCEvent: NJ Our Town Mayors Program –Downtown RetailAddress/City: Glassboro, NJP: 202-626-1407 E: [email protected]

JUNE 22 – ULI NNJEvent: YLG Executive Breakfast Serieswith Ed RussoTime: 8:30 AM – 10:30 AMLocation: Russo DevelopmentAddress/City: 570 Commerce Blvd.,Carlstadt, NJP: 800-321-5011www.nnj.uli.org

JUNE 27 – CREW LEHIGH VALLEYEvent: Lunch-A-RoundsTime: 11:35 AM – 1:00 PMLocation: The SangriaAddress/City: 840 W. Hamilton St., Allentown, PAP: 484-223-0276E: [email protected]

JUNE 27 – CREW LEHIGH VALLEYEvent: Lunch-A-RoundsTime: 11:35 AM – 1:00 PMLocation: The Apollo GrillAddress/City: 85 W. Broad St., Bethlehem, PAP: 610-868-8507 E: [email protected]

JUNE 27 – CREW LEHIGH VALLEYEvent: Lunch-A-RoundsTime: 11:35 AM – 1:00 PMLocation: The ValencaAddress/City: 64-66 Center Square, Easton, PAP: 610-865-2621E: [email protected]

JULY 12Event: Lakewood Regional Business Expo& Networking EventTime: Noon – 4:30 PMLocation: Lakewood Industrial Park,Lake Terrace HallAddress/City: 1690 Oak St., Lakewood, NJP: 732-364-2500 Ext. 5257E: [email protected]

JULY 16 – NJ CORNET/IRMAEvent: Golf OutingTime: 9:00 AMLocation: Hackensack Country ClubAddress/City: Oradell, NJP: 908-663-2708www.corenetnj.org

JULY 16 – TRISTATE/CCIMEvent: 16th Annual Golf OutingTime: 11:30 AMLocation: Llanerch Country ClubAddress/City: Havertown, PAwww.tristaterca.com

40A — May 25 - June 7, 2012 — Mid Atlantic Real Estate Journal www.marejournal.com

COMMERCIAL REAL ESTATE ORGANIZATIONS’

EVENTS CALENDAR


http://www.cianj.org

http://www.crewpittsburgh.org

http://www.philadelphia.uli.org

http://www.bomaphila.com


http://www.ccim.com


http://www.abcbaltimore.org

http://www.crewlehighvalley.org

http://www.baltimore.uli.org

http://www.philadelphia.uli.org

http://www.siornj.com

http://www.scbp.org




http://www.circdelaware.org


http://www.ioreba.com


http://www.icrewnj.org


http://www.icsc.org

http://www.nnj.uli.org








http://www.corenetnj.org

http://www.tristaterca.com

www.marejournal.com Mid Atlantic Real Estate Journal — May 25 - June 7, 2012 — Inside Back Cover A

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Back Cover A — May 25 - June 7, 2012 — Mid Atlantic Real Estate Journal www.marejournal.com

12

34

5

6

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NY

NJ

PA

DE

MD

S t r e n g t h I n N u m be r sTriple your opportunities in New Jersey’s Tri-County Region

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Mid Atlantic REAL ESTATE JOURNAL

ANNUAL SPOTLIGHT

INDUSTRIAL REAL ESTATE &

DISTRIBUTION CENTERS

www.marejournal.com Mid Atlantic Real Estate Journal — Industrial / Distribution Centers — May 25 - June 7, 2012 — Section B


Inside Cover B — May 25 - June 7, 2012 — Industrial / Distribution Centers — Mid Atlantic Real Estate Journal www.marejournal.com

Dermody Properties’ understanding of our customers’ needs and

commitment to customer service have translated into successful industrial

distribution facilities throughout the country. LogistiCenter at Logan is

a 1,100 acre, Class A, master-planned industrial park in Logan Township,

New Jersey. Upon total build-out, the site will accommodate over 7.4

million square feet of industrial, distribution and light manufacturing

space. LogistiCenter at Logan is strategically designed and located to

optimize the distribution supply chain and maximize speed to market.

For more information call Stephen G. Bailey, Partner,

Eastern Region, at 610.834.3701

LOCATIONSPEED

DISTRIBUTIONREACH

MARKETS

Dermody.com

Dermody.com/Logan


www.dermody.com

www.marejournal.com Mid Atlantic Real Estate Journal — Industrial / Distribution Centers — May 25 - June 7, 2012 — 1B

RRT 61 DISTRIBUTION CENTER

1184 TUCKERTON ROAD, READING, PA

CCONTACT : STEVE WILLEMS

EEXCLUSIVE AGENT

OOffice 610--7779--11400 Direct 610--3370--88506

33000 Amp 3--PPhase 480 V

335,000 lb Dock Levelers

1100 % Sprinkler/ T5 Lighting

RRail Available

33+ Acre Fenced, Lit and

PPaved Truck Lot

SStrategically located: Rte 61 & Rte 222 Interchange

EExcellent Access to I--776, I--1176 & I--778

IIn the Heart of desirable Muhlenberg Twp. Industrial Area

-- BBest Location in Berks County

PPublic Transportation to Site

330 Minutes to Lehigh Valley

Owned and Professionally Managed by:

1115,000 SF -- 332’ Clear Ceiling Height -- 118 Docks

DDistribution or Manufacturing

MMeeting Tenant’s Needs Immediately, Efficiently and Economically

AAlso Available : 36,000 SF -- 111 Docks

221’ Clear Ceiling Height


2B — May 25 - June 7, 2012 — Industrial / Distribution Centers — Mid Atlantic Real Estate Journal www.marejournal.com

INDUSTRIAL REAL ESTATE & DISTRIBUTION CENTERS

riffin Land, the real estate division of Grif-fi n Land & Nurseries,

Inc. is nearing completion of a 228,000 s/f warehouse building at the Lehigh Valley Tradeport, its 51 acre site on Fritch Dr. in Bethlehem, PA. Griffi n Land en-tered the Pennsylvania market in 2010 with the purchase of two properties in the Lehigh Valley; a 120,000 s/f warehouse in Al-lentown and a “shovel-ready” parcel of land for development on Fritch Drive which has be-come the Lehigh Valley Trade-port industrial park (LVTP). Adjacent to the fi rst LVTP build-ing nearing completion, Griffi n

Warehouse nears completion at Lehigh Valley Tradeport

Griffi n Land set to deliver fi rst of twoindustrial buildings in Bethlehem, PA

G

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

BUILDING 1 NEARING COMPLETION

CBRE, Inc. | 1275 Glenlivet Drive, Suite 320 | Allentown, PA 18106 | T.610.398.6900 | F.610.398.7815

www.cbre.com/allentown | Licensed Real Estate Broker

Land has prepared the building pad for an approximate 300,000 s/f building. Development of LVTP is part of Griffi n’s long term strategy to increase its

ownership, development and management of properties in in the Lehigh Valley and other Northeast and Middle Atlantic regions.

Lehigh Valley Tradeport – 4275 Fritch Drive

The Lehigh Valley Tradeport is a rail served industrial park located off Brodhead Rd., just minutes from Rte. 22 and key Lehigh Valley Rd.ways includ-ing I-78, I-476 and Rte. 33. The Brodhead Rd. area is home to over 6 million s/f of indus-trial space and includes tenants such as Kraft Foods, OSRAM Sylvania, Americold, Crayola, Walgreen’s and FedEx.

Michael Gamzon, executive VP and COO for Griffi n said, “We are excited to deliver our fi rst development project in the Lehigh Valley with 4275 Fritch

Drive’s completion at the end of May. We believe this 228,000 s/f warehouse will be one of the fi rst speculative industrial projects in the Lehigh Valley since 2008.”

Tim Lescalleet, senior VP for Griffi n Land and head of its leas-ing activities commented, “We have seen a signifi cant amount of interest in the property since construction commenced and remain very confi dent that 4275 Fritch Drive will be leased in the near future. The building’s specifications meet or exceed today’s market standards with pre-cast construction, 32 foot clear-height, 52 foot by 50 foot column spacing, 2 drive-in doors, capacity for 53 loading doors and excess trailer park-ing.”

According to Sean Bleiler, senior associate for CB Rich-ard Ellis, “The Lehigh Valley market has experienced strong absorption trends over the last eighteen months and availabil-ity of modern warehouse space remains very tight. The Lehigh Valley Tradeport provides the market with much needed new construction, particularly in the eastern end of the Valley”

Griffi n also has completed the pad and infrastructure for the second building within LVTP which will support an approxi-mate 300,000 s/f, rail-served warehouse. Added Gamzon, “we remain optimistic about the growth in demand for industrial and warehouse space in the Lehigh Valley and continue to seek build-to-suit opportuni-ties for this building as well as continually evaluate our plans to go vertical on speculation at this site.”

Growth StrategyIn addition to its present

development activities, Grif-fi n seeks new acquisition and development opportunities in the area. “We view Lehigh Val-ley Tradeport, along with our warehouse on Nestle Way in Allentown, as the fi rst steps in a long term strategy to expand into markets outside of our core holdings in Connecticut. We seek acquisition opportunities of industrial real estate assets in the Northeast and Middle Atlantic States,” said Gamzon. “Griffi n’s objective is to remain a long-term owner, developer and manager in the markets in which it enters, with a focus on acquiring a balance of value added and stabilized, modern industrial properties and land for development.” ■


http://www.cbre.com/allentown



ince the third quar-ter of 2011 Sheldon Gross Realty has been

experienc-ing an ever increasing volume of interest in the proper-ties they are marketing. In the past 3 6 5 d a y s S h e l d o n Gross Realty has Brokered 27 deals totaling 342,056 s/f. Currently we represent

a section of the

MARE Real Estate Journal

P.O. Box 26, Accord, MA 02018

781-871-5298 • 800-584-1062

fax 781-871-5299

www.marejournal.com

Publisher/CEOLinda Christman

[email protected]

PublisherMichael Campisi

[email protected]

PublisherElaine Fanning

[email protected]

Section EditorKaren Vachon

[email protected]

Industrial R.E. & Distribution Ctrs.

By Jonathan Glick, Sheldon Gross Realty, Inc.

In the past 365 days Sheldon Gross Realty has brokered 27 deals totaling 342,056 s/f

S

60 available spaces for lease totaling 991,158 s/f. Most of our properties available for lease have offers and believe that most will be completed this quarter. This holds true for all the sectors we service; retail, offi ce and industrial.

Our listing at 113 route 46 (Willow Square Mall) in Wayne has to be one of our most active retail listings. 8 months ago we had very little interest and now we have leases out on a majority of the spaces with back up

offers in place. In Middlesex County we have 2 50,000 s/f warehouse buildings on the market for more than 2 years each 17 Kimberly Road, East Brunswick and 3 Taylor Road, Edison have have now been leased to long

Jonathan Glick

We Have The Perfect Location For Your Business

FAIRFIELD – FOR LEASE WAREHOUSE – MANUFACTURING – OFFICE EXCELLENT HIGHWAY VISIBILITY29,000+/- square foot free-standing building. Industrial park setting.

Excellent location with immediate access to Route 46 and close to Routes 80 and 280.

WAYNE – RETAIL CENTER FAIRFIELD – FOR LEASE ROUTE 46 FRONTAGE OFFICE SPACE – HIGHWAY VISIBILITY Units available from 1,778 square feet to 20,000 square feet. 8,426 square feet space available on 1st floor / 4,500 Square feet unit available on 2nd floor Ample parking. Excellent location with direct frontage on Route 46 west.. Multi-tenanted 60,000 +/- square foot building. Business park setting with ample parking. Across from Willowbrook Mall. Very attractive rental rate. Will divide and finish to your specifications.

PERTH AMBOY – FOR LEASE FAIRFIELD – FOR LEASE – NEW TO MARKET EXCELLENT LOCATION – GREAT VISIBILITY WAREHOUSE/DISTRIBUTION SPACE 7,500 square feet available. Free standing building. Great location for Medical 93,612+/- square feet with 3,500 square feet of office. or Professional Offices . Convenient access to Garden State Parkway and Route 440 Tailgate loading with 21-24 foot clear ceilings and abundant parking. Ample parking with partially fenced lot. Excellent location.

The information contained herein has been obtained from sources considered reliable, but no guarantee of its accuracy is made by this company. Subject to errors, omissions or withdrawal without prior notice.

Biggerisn’t always better.

You don’t need a large brokerage firm. You need a firm which understands

your business and real estate needs andcan give you personal service and attention.

Experience – Knowledge – Success Since 1962

SHELDON GROSS REALTY, INC.REALTORS Corporate Real Estate Services 80 Main Street, West Orange, NJ 07052 Tel.#973-325-6200 - Fax.#973-325-9090 E-mail: [email protected]

For information on these or other New Jersey properties please contact Sheldon Gross Realty, Inc.

at 973-325-6200 or see our website atwww.sheldongrossrealty.com

term tenants. In addition, we represent 12 properties For Sale totaling 391,658 s/f of RBA valued at $28,124,000. While the activity is not as brisk for purchasing there is defi nite interest by com-panies who forsee owning a facility in the near future. Hopefully, if the positive business trends we are ex-periencing continue this will translate into more sales transactions. Jonathan Glick is ex-ecutive vice president of Sheldon Gross Realty. ■

“While the activity is not as brisk for purchasing there is defi nite interest by

companies who forsee owning a facility in the near future. Hopefully, If the

positive business trends we are experiencing continue this will translate into

more sales transactions.”

POTOMAC, MD — In one of the Washington metro-politan area’s largest indus-trial portfolio acquisitions this year, a partnership led by Willco Companies of Potomac has acquired approximately 285,000 s/f of flex-industrial space at Montgomery County Air-park in Gaithersburg, MD for $30 million. The sell-ers, Zarpas 1 through 5 Limited Partnerships, were represented by the Wash-ington, DC offi ce of Jones Lang LaSalle. BB&T Bank provided fi nancing for the acquisition. ■

Willco aquires 285,000 s/f fl ex/industrial portfolio








http://www.sheldongrossrealty.com



By Steve Bussel, Bussel Realty Corporation

Central New Jerseyindustrial real estate market

The real estate mar-ket is showing an improvement for

the start of 2012. How-ever, not all segments of the real es-tate market are picking up at the same pace. Fortunately the industrial market is accelerating at a much bet-ter pace than the rest of the commercial market, yet corporate offi ce space is still

moving very slow. Unfortu-nately, there is an abundance of vacant and available space in all areas of New Jersey. Some sub-markets are better than others, but overall cor-porations are still not hiring and unemployment is still above 8%. Hence, there is no net absorption of corporate of-fi ce space and rentals are still

depressed and not rising. The retail real estate mar-ket is not much better. The large retail chains are not expanding and the smaller entrepreneurial chains are not starting new businesses. The retailers that are still in business are trying to survive and keep their heads above water. The last thing on their

minds is expansion. At the present time, early 2012, the one shining light is the industrial real estate market. We have seen and experienced a dramatic in-crease in business. We see much more activity in the market, some net absorp-tion of space, and yes, even some increase in rental rates. There is a defi nite increase in sales activity, and as a result, an increase in sales prices as well. For the past three and half years, since late 2008, sales almost came to a halt. The

only sales we had seen were at fi re sale prices. However, since the beginning of 2012 activity has increased, and prices along with it. With credit loosening up and in-terest rates still at historical lows, companies, as well as investors, are entering the market again. In Central New Jersey, in the peak of 2007 and early 2008, well situated buildings with good features, such as high ceil-ings, multiple loading docks and extra land, were selling at $80.00 to $110.00 per s/f. Right after 2008, these build-ings were selling at $45.00 to $65.00 per s/f. In early 2012, these same buildings are now selling at $60.00 to $80.00 per s/f. Encouragement at last! The same story applies to the rental market. Quality buildings in the peak were renting between $5.50 and $6.50 per s/f triple net. At the low point, landlords were afraid of the uncertainty in the market and scared of facing large vacancies. They ended renting space for $3.00 to $4.00 per s/f, just to avoid the vacancies. Today, with more activity in the market and less vacancies, landlords are leasing space at $4.00 to $5.50 per s/f. Again, these examples are in Central New Jersey, for quality properties with desirable features. The political climate in the US and globally is tenuous at best. Therefore, there are still a lot of uncertainties in all segments of the real estate market and most landlords, investors and corporate users are cautious, but optimistic. Steve Bussel, SIOR, pres-ident of Bussel Realty Corporation has been en-gaged in the corporate and commercial real es-tate business since 1973. He started Bussel Realty Corp. in 1984, in Middle-sex County, specializing in industrial real estate. Since then the company has grown from a one man operation, to include over 20 sales professionals, who specialize in all forms of corporate and commer-cial real estate, with an emphasis on industrial real estate in Central and Northern New Jersey. The company also offers con-sulting and management services throughout New Jersey. ■

Steve Bussel

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

The information herein has been obtained from sources deemed to be reliable, but no guarantee of its accuracy is made by the Company. In addition, no representation is made respecting measurements, dimensions, zoning, condition of title or any matters of a legal or environmental nature. Such matters should be referred to legal counsel for determination. Subject to errors, omissions or withdrawal without notice.

For Additional Information or to Set Up an Inspection Contact EXCLUSIVE BROKER

JORDAN METZ, Vice President Cell: (973) 493-0385 Email: [email protected]

For Additional Listings or Information Check Us Out On The Web: www.bussel.com

PROPERTY FEATURES 8,000 SF Freezer 15,000 SF Cooler 8,000 SF Office 34’ Clear Ceilings 55 Car / 15 Trailer Parking Fully Turn-Key Solution

ESFR Sprinklers Fully Racked w/Over 6,500 Pallet

Positions (More can be added) Active Rail Service 1,400 Amps Power AIB Food Building

LOCATION ADVANTAGES Immediate Access to NJ Turnpike, Routes 1

& 9, 287, 440 & Garden State Parkway Close Proximity to Port Elizabeth, Newark

Liberty International Airport & NYC Desirable Raritan Center w/Many On-Site

Amenities

Great Opportunity in Edison, New Jersey80,000 SF AVAILABLE

Class A, Free Standing Warehouse/Distribution Facilitywith Freezer, Cooler, Rail & Many Other Features

“Fortunately the industrial market is accelerating at a much better pace than the rest of the commercial market, yet corporate offi ce space is still moving very slow.”



http://www.bussel.com

http://www.bussel.com



ogistiCenter at Logan, a Class A master-planned industrial park, sits

on 1,100 acres of land in Lo-gan Township, New Jersey. S i n c e D e r -mody Proper-ties, parent company of DP Partners, acquired the i n d u s t r i a l park in 2005, fi ve buildings totaling 1.5 mil-lion s/f have been developed.

Upon total build-out, Lo-gistiCenter at Logan will ac-commodate more than 7.4 million square feet of new manufacturing, distribution, warehouse, industrial, re-search-and-development, offi ce and fl ex space. The industrial park offers ultimate fl exibility, with the ability to provide sites from 4 to 100 acres and build-ings from 10,000 to 1.2 million s/f. LogistiCenter’s location and ability to accommodate operational facilities of nearly any size and type has made it a hub for consumer products, food and pharmaceutical com-panies, including Kimberly Clark, Vistar - a Performance Food Group Company - La-Brea Bakery, Cardinal Health and McKesson. The Dermody buildings are occupied by a diverse group of well-known national companies, includ-ing Freightliner, Sears, UPS, Ta Chan International, and HHGregg.

Commerce Corner - a 259,910 s/f offi ce and distribution facil-ity within the industrial park - offers manufacturing, dis-tribution and warehousing opportunities, making it the perfect compliment to the land sale and build-to-suit capabili-ties in LogistiCenter at Logan. Commerce Corner has an ad-ditional 9.6 acres that would allow the existing facility to expand to 470,000 s/f. Perfor-mance Food Group, Inc., one of the nation’s largest foodservice distributors, currently leases 61 percent of the facility, with the remaining 100,283 s/f of fully conditioned warehouse/distribution space available for immediate occupancy.

Located 12 miles south of Philadelphia, in the center of the Northeast Corridor, Logis-tiCenter at Logan is strategi-cally located to optimize the distribution supply chain and maximize speed-to-market.

By Stephen G. Bailey, RLA, CCIM, Dermody Properties

Dermody Properties’ LogistiCenterat Logan: 5 buildings totaling 1.5 million s/f

LThe location offers direct access to a major highway infrastruc-ture and rail service, making the industrial park an ideal place from which tenants can service both the northern and southern markets - from Wash-ington D.C. to New York.

Located in a business-friendly state, with county and munici-pal governments committed to economic development, Logis-tiCenter at Logan is an ideal location for warehouse, distri-bution and manufacturing cen-ters. The industrial park was designed to satisfy the needs of regional, national and inter-

national corporate distribution operations, manufacturers and third-party logistics fi rms.

Dermody Properties’ joint venture partner in the project is Great Point Investors, LLC, of Boston. The Dermody Prop-erties team currently managing LogistiCenter at Logan includes Stephen G. Bailey, RLA, CCIM, partner; Matthew Marshall, associate partner; and James V. Mascaro, CCIM, LEED-AP, director of development.

Stephen G. Bailey, RLA, CCIM is partner, Der-mody Properties, Eastern Region. ■LogistiCenter Aerial

Stephen G. Bailey

2011 Leasing Totals:

99.8% Occupied3,647,365 SF Leased

Leasing for lessin Central Jersey.

� Huge Foreign Trade Zone

� Energy Efficient Warehouse Lighting

� 60% Lighting Bill Reduction

� 20% Solar Energy Electric Rebates

� Subsidized Daycare

(732) 287-4880 205 Mill Road, Edison NJ 08837 www.hellerpark.com

Heller Industrial Parks


http://www.hellerpark.com



ilver Spring Proper-ties LLC has acquired two buildings totaling

33,000 s/f for $950,000 in Silver Spring Industr ia l Park located at 5 and 7 Long Lane, Mechanics-burg, Silver Spring Town-ship, Cumberland County, Pennsylvania. Jason Grace, CCIM, SIOR and vice presi-dent at Landmark Commercial Realty, Inc. negotiated the transaction between the buyer

Grace of Landmark closes over 140,541 s/f of industrial transactions during April!

Landmark Commercial RE negotiates $950,000 acquisition in Silver Springs Industrial Park

Sand the seller, CDL Property LLC.

Touch of Color Flooring Inc. has recently signed a long term lease for 31,415 s/f of warehouse space located at 6295 Allentown Boulevard, Harrisburg, Lower Paxton Township, Dauphin County, Pennsylvania. Jason Grace, CCIM, SIOR and vice presi-dent at Landmark Commercial Realty, Inc./ONCOR Interna-tional negotiated the transac-tion between the tenant and landlord, Hayden Real Estate Investments.

Schmidt Baking Company Inc. recently acquired a 18,500

s/f, 21 door cross dock terminal facility located in the Turnpike Industrial Park located at 2755 Turnpike Industrial Road, Middletown, Lower Swatara Township, Dauphin County, Pennsylvania. Jason Grace, CCIM, SIOR and vice presi-dent at Landmark Commercial Realty, Inc./ONCOR Interna-tional negotiated the trans-action on behalf of Schmidt Baking Company Inc. and the seller, Heartland Realty LLC.

Five Star International Truck Sales and Leasing has recently acquired a 15,000 s/f sales and service facility located along I-81 at 1515 Commerce Av-enue, Carlisle, South Middle-ton Township, Cumberland County, Pennsylvania. Jason Grace, CCIM, SIOR and vice president at Landmark Com-mercial Realty, Inc./ONCOR International represented the buyer and William Gladstone, CCIM, SIOR of NAI CIR rep-resented the seller, Gerald and Edna Golden.

Big Bob’s Floor Pro Inc. has recently leased 12,626 s/f of dis-tribution space at 6305 Allen-town Boulevard, Harrisburg, Lower Paxton Township, Dau-phin County, Pennsylvania. Jason Grace, CCIM, SIOR and vice president at Landmark Commercial Realty, Inc./ON-COR International negotiated the transaction between the tenant and landlord, Hayden Real Estate Investments.

Essintial Enterprise Solu-tions LLC recently renegoti-ated and extended its lease for 30,000 s/f in Fairview In-dustrial Park @ 629 Lowther Road, Lewisberry PA. Jason Grace, CCIM, SIOR and VP at Landmark Commercial Realty, Inc./ONCOR International negotiated the transactions be-tween the tenant and landlord, REVA Companies LLC.

Evergreen Property Trust, LLC has recently purchased (3) industrial building sites totaling 40 +/- acres within Upper Allen Business Park along Independence Avenue, Mechanicsburg, Upper Al-len Township, Cumberland County, Pennsylvania. Jason Grace, CCIM, SIOR and vice president at Landmark Com-mercial Realty, Inc./ONCOR International negotiated the transaction on behalf of the buyer and Art Campbell, presi-dent of Campbell Commercial Real Estate represented the seller, Frank M. Bingman Trust. ■

2755 Turnpike Industrial Park, Middletown PA

Jason Grace

Jason Grace, CCIM, SIORVice President - Sales & LeasingCorporate Brokerage Services

[email protected]

717–731–1990 • 800–722–1990Member ofInternational Council of Shopping Centers

Individual MembershipSociety of Industrial andOffice REALTORS

®

470 Terminal Rd. Camp Hill, PAExcellent opportunity to lease or purchase a rare stand alone, high end distribution facility. Building is food grade with a certified AIBrating of “Superior”. Building has ample dock loading & provides great clear height for high cube racking capability. Existing office area can be expanded. Perfect for any general commodity,food grade or pharmaceutical requirements.

Flex Whse. Space Available

1981 Fulling Mill Rd. Middletown, PA Unbelieveable opportunity to acquire a 107,372 s/f corporate R & D flex/office/ware-house fulfillment center situated on 12 acres near Harrisburg International Airport (HIA). Property offers flexible layout for multi-tenant scenario as well as potential for abundant trailer parking on site. Priced below replacementcost for immediate sale!!!

Flex Warehouse Available Distribution Facility Available

25 Utley Dr. Suite 300 Camp Hill, PAVery functional second generation flex suites in a business campus setting within The Pennsylvania Business Center. Aggressiverental rates and terms. Flexible floor plans & space configurations make this the premier flex option in Central PA. Well located flex warehouse property with great visibility &access to coveted West Shore Business Center.

Master Planned Business Campus Climate Controlled Warehouse Rail-Served Industrial Building

Exit 24-Interstate 81 Corridor Shippensburg, PAUnited Business Park, owned by CVRDC, is well located between Harrisburg, PA and Hagerstown, MD at a full interchange (Exit #24) of the nationally recognized Interstate 81 transportation corridor with immediate access to a number of major metro consumer markets. This 363 acre master planned business campus will provide ample expansionopportunity for those corporations looking to relocate.

1501 Fulling Mill Rd. Middletown, PAExisting pallet racking can be made available. Building is engineered for second story office expansion. Existing cooler and secure cage areas. DEA & FDA approved facility. Flexible layout. Well situated stand alone distribution facility with immediate access to PA Turnpike (I-76),I-83 and I-81 transportation corridors. Hard to find climate controlled building. For Lease.

2244 Old Gettysburg Rd. Camp Hill, PA Rare hard to find stand-alone rail served industrialwarehouse building available for sale. Well locatedalong Route 581, Capitol Beltway and Route 15 with immediate connection to I-81, I-83 and PA Turnpike. Situated at the nexus of (2) major nationally recognized transportation corridors in Central PA. Excellent user/occupied opportunity.For Sale.



http://www.landmarkcr.com



ILMINGTON, DE — Patterson-Woods Commercial Proper-

ties/CORFAC International, a leading full-service commercial real estate provider serving the Tri-State Area, announced a 17,353 s/f lease completion on behalf of Resource International Inc., DBA Mishimoto Auto Per-formance, at 18 Boulden Circle, New Castle.

Mishimoto signed a long term lease for industrial-offi ce space and will occupy the premises in July of this year. Mishimoto Auto Performance is a leader in after-marketing cooling com-ponents (such as aluminum radiators and temperature gauges) that are manufactured specifically for race cars and motorcycles.

Rich Dudek, a partner with Patterson-Woods/CORFAC In-ternational, represented tenant Mishimoto Auto Performance while Dave Cook of The Flynn Company represented the prop-erty owner, RREEF, in the lease negotiations.

“The tenant is a fast-grow-ing company that designs and manufactures high-end perfor-mance parts for distribution throughout the United States. Mike Sullivan, 28, has been building his company since the age of 19 and estimates that he will increase his staff from its current 26 employees to 55 once they move into the new space,” said Dudek.

Patterson-Woods is Dela-ware’s largest commercial real estate company and is equipped to offer a full scope of operations, including the sale and lease of commercial/industrial, retail and investment property as well as buyer & tenant representa-tion, property management and business brokerage. Decades of real estate experience in the region is supplemented with input from a network of busi-ness and government contacts. This guarantees professional service for all ventures large or small.

CORFAC International (Cor-porate Facility Advisors) is distinguished by the way it manages multi-market com-mercial real estate assignments on behalf of corporate entities and privately owned companies. Founded in 1989, U.S.-based CORFAC is comprised of pri-vately held entrepreneurial fi rms with expertise in offi ce, industrial and retail real estate leasing and investment sales, multifamily property acquisi-

Cook of The Flynn Company reps owner, RREEF

Dudek of Patterson-Woods/CORFAC Int’l. reps Mishimoto Auto Performance in 17,353 s/f lease

tions and dispositions, property management and corporate ser-vices in North America, with coverage in South America pro-vided by Panama-based Latin American Corporate Property Services. A Principal Member of FIABCI – the International Real Estate Federation with global affi liates in Europe and Asia, CORFAC International offers commercial real estate services with market reach in 65 coun-tries worldwide. In recent years, CORFAC fi rms have averaged 10,000 completed transactions annually encompassing nearly 100 million s/f and valued at more than $6 billion. ■

Search more than 300 available properties at:

www.highassociates.com/propertysearchemail: [email protected]

Lancaster, PA600-acre, Master-planned Business Campus

Industrial & Flex Space 5K-55K SF Class-A & Class-B Office Space 1K-25K SF + Acres Available for Built-to-Suit

Harrisburg, PA RegionPA Turnpike I-76/Route 15

Industrial & Flex Space 12K-14K SF Class-A & Class-B Office Space 1K-4,600 SF On-site Hotels & Restaurants

Chester County, PA200-acre, Master-planned Business Campus

Industrial & Flex Space 4K-63K SF Class-A & Class-B Office Space 800-6,500 SF Easy Access/Highway Frontage

SPACE AVAILABLE

W

18 Boulden Circle


http://www.highassociates.com/propertysearch




ndustrial Real Estate as an asset class is in particularly high

d e m a n d because of the positive fundamen-tals driving t h e b u s i -ness in top tier indus-trial mar-kets around the United States.

We are seeing positive net absorption in most all major markets along with modest job growth. There is virtually

I

By Michael Nachamkin, HFF

We are seeing positive net absorption in most all major markets along with modest job growth

Michael Nachamkin

no new construction however there is a pipeline of spec construction in key logistic markets such as Inland Em-pire, Central/Eastern PA and Houston. Several speculative projects are in the works in Central and Northern NJ, a major US Port market.

There is a surplus of capi-tal pursuing industrial prop-erties with 70% of the capital targeting stabilized core product. Since core product is not available, we believe capital will migrate up the risk curve in both core and secondary markets. Why is

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there a lack of core prod-uct available to investors? Institutional owners have signifi cantly increased their allocations for industrial, which is the next favorite behind multifamily. Selling core properties today is a real challenge for institu-tional investors as they have no place to redeploy the capi-tal although those who do decide to sell will outperform expectations!

Sales volume continues to accelerate. In 2005, 2006 and 2007, there was sig-nifi cant investments activity from $22B in 2004 to $45B

in 2006, $50B in 2006 and peaking at $58B in 2007. Since the bottom of the re-cession, we have seen steady and signifi cant increases in volume from $10.8B in 2009 to $27B in 2011 working its way back. There was more than $5.7B of industrial sales in Q12012 according to Real Capital Analytics. With this increase in capital fl ows, comes cap rate compression as investors bid up properties in the key logistic markets. Where is the capital coming from? US Pension Funds, Endowments and Private High Net Worth Clients are all trying to get into this safe and predictable asset class and Foreign Funds are chas-ing industrial as well. Some of the signifi cant buyers to-day are Blackstone, Exeter, and DRA; all taking down some of the largest portfo-lios in the country that have some of their assets in the Northeast. There are few if any bulk industrial portfolios in the NY-Washington area being marketed so many of the trades are still one off.

Cap rate spreads for Class A distribution in core mar-kets average 6-6.5% and 6.75%-7.75% for Class B. With this is mind, the best core assets are being priced sub 6% in the top tier mar-kets. For the leveraged play-ers, debt capital is readily available for the right spon-sor. Leverage of 65-70% is common with spreads rang-ing between 150bp and 250 bp over 10 year treasuries. Debt through conduit pro-grams is available in second-ary markets with spreads of 300-350bp.

The I-95 Corridor, which extends from New York down to Washington, D.C. is an area of focus for most institu-tional and private investors. There was $450-$500MM of industrial transactions pri-marily in Baltimore/Wash-ington, D.C., the Philadel-phia area and Northern New Jersey.

Michael Nachamkin is a managing director at HFF and heads up the in-dustrial investment sales group in the Northeast. He is part of a national in-dustrial team with cover-age in the major markets of Miami, Dallas, Hous-ton, Chicago, Seattle and Los Angeles. ■

“There is a surplus of capital pursuing industrial properties with 70% of the capital targeting stabilized core product. Since core product is not available, we believe capital will migrate up the risk curve in both core and secondary markets. Why is there a lack of core product available to investors?”


www.maxspann.com



FOR SALE OR LEASEIndustrial-Commercial Realty, LLC

Charlene Friedman, CCIM, CPM Friedman Real Estate Group

P O Box 10299,State College, PA 16805 [email protected]

(814) 234-6004 Ext: 206www.friedmanrealestategroup.com

Three story self contained facility with loading dock, 50 space parking on-site. Currently being used as

production facility for specialized medical transducers. New HVAC in 2000. Carpets and flooring new in 2011.

Enhanced lighting and exhaust systems.

1363 South Atherton1363 South Atherton Street, State College, PA 16801

$8,725 /Month

559 Main Street, Suite 300 Bethlehem, PA 18018

Phone: 610•332•1100 Fax: 610•332•1111

www.penncapproperties.com

Exceptional commercial real estate solutions and services for businesses who demand more from their space.

Available

STOKES AVENUE PROPERTY:120,000 +/- SF manufacturing facility

zoned for industrial use adjacent to 1,175 feet of rail service. 40 cranes service the main building consisting of approximately 62,000 +/- SF and three other warehouse/shipping buildings. On site septic with all other major utilities supplied to this 20 +/-level acre with endless possibilities.

SELF STORAGE UNITS:Great Investment: 240 Storage

Unit Facility Portfolio. 2 locations within 10 minutes from each other.

Situated in Mount Pocono and Mountainhome along Route 390

and Route 611. Present occupancy 90 + %. Immaculate condition with

strong rental history.

VACANT LAND IN BLAKESLEE: A Unique opportunity to acquire49 +/- commercial acres with central sewage on Route 115. Just north of I-80 Blakeslee Exit andjust south of Route 940 BlakesleeIntersection. Adjacent to newly acquiredland for open space park. Survey and wetlands delineation are available. 9 EDU's included in sale.

PAVING THE WAY FOR DEVELOPMENT IN NORTHEASTERN, PA



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ERSEY CITY, NJ — I.Con-The Industrial Conference is slated

for June 14-15, 2012, at the Hyatt Regency in Jersey City. Expected to attract industrial real estate profes-sionals from across the coun-try, the event is produced by NAIOP, the commercial real estate development associa-tion, and held in partnership with NAIOP New Jersey and SIOR.

“As global markets con-tinue to recover, how will in-creasing demand for consum-er goods affect the logistics supply chain, the demand

I.con will explore emerging opportunities, trends and technology infl uencing industrial RE

NAIOP produces I.Con- The Industrial Conference in Jersey City

J

What you’ll find at I.con:

• A look at Economic Trends and Implications for Industrial Properties

• An analysis of the intersection of Trade Flow and Real Estate

• Ring-side seats at The Art of the Deal “Shark Tank” – where two

developers pitch their development/acquisition opportunities to the

institutional equity “sharks”

• Plus, an up-close look at the Port of New Jersey and the inner

workings of Digital Realty Trust’s New York high security data center

For updated program information, visit www.naiop.org.

I.con: The Industrial Conference

June 14 – 15, 2012 | Hyatt Regency Jersey City | Jersey City, New Jersey

2012 I.CON PLATINUM SPONSORS

Join NAIOP for the only North Americanconference focusedsolely on the industrial real estate sector _

I.con:The Industrial Conference.

2012 I.CON PARTNERS

for industrial development and trends in current and fu-ture facilities?” said Thomas Bisacquino, president and CEO of the 15,000-member NAIOP. “These are just a few of the topics to be discussed in-depth at the only national conference for industrial real estate.”

“This will be the second time New Jersey has hosted this prestigious event,” said Michael G. McGuinness, CEO of NAIOP New Jer-sey, the leading commercial real estate association in the Garden State and, with more than 600 members,

the third largest chapter of NAIOP Corporate. “I.con will explore emerging opportuni-ties, trends and technology influencing industrial real estate, and will showcase the New Jersey market for a national audience.”

The event, beginning on Thursday, June 14, will in-clude two tours of the New Jersey market, including a bus tour of the Port of New York and New Jersey, which generates $11.6 billion in personal income and $37.1 billion in business income an-nually. The DRT Data Center Tour will provide an inside

look at the tri-state area’s burgeoning high-security data facility market.

New Jersey Governor Chris Christie has been invited to address I.con, to share his views on the importance of real estate to his state and the nation. Also, a number of industry professionals from the metropolitan region will headline the two-day event’s panels and presentations, beginning with welcoming remarks on June 14 by Jan-ice Stanton of Cushman & Wakefi eld’s Capital Markets Group. Bisacquino and cur-rent SIOR president Geoff

Kreusser will also welcome attendees to the event.

Other metropolitan region speakers will include John DiCola of KTR Capital Part-ners, who will moderate an opening day panel addressing the topic “The Intersection of Trade and Real Estate.” A subsequent panel titled “In-dustrial to Data Center—A Hot Trend” will be moder-ated by Jeffrey Hipschman of CBRE and include William Beck of Credit Suisse, Mi-chael Bucheit of FiberMedia Group and Edward Russo of Russo Development.

The June 15 schedule will kick off with a program titled “Understanding and Navi-gating State Incentives.” Among panelists will be Jay Biggins of Princeton, N.J.-based Biggins Lacy Shapiro & Company, a corporate site selection advisory fi rm. Next, Anne Strauss-Wieder of A. Strauss, Inc. will head a panel addressing the ques-tion, “What are the Channel Masters Thinking about the Supply Chain?” Panelists include Michael J. Lands-burg of NFI Real Estate and George Harry of Johnson & Johnson Sales & Logistics Company.

Next on the agenda is the topic, “Investment Strategies: Public vs. Private.” Mark G. Levy of Prologis-East Region will moderate a panel that will include Don Chase of KTR Capital Partners and Michael Hagan of Liberty Property Trust. A lunch pre-sentation titled “Art of the Deal – ‘Shark Tank’,” pitting developer/operators vs. insti-tutional equity “sharks,” will feature Rob Kossar of Jones Lang LaSalle and Alexander Taylor of Matrix Develop-ment Group.

I.con will conclude on June 15 with a Panama Canal Pre-sentation by Bisacquino and past NAIOP chairman Bob Cutlip, who will share their experiences gained from a recent real estate tour of Panama. The Panama Canal expansion resonates in the New Jersey/New York region in the form of the project to raise the Bayonne Bridge to permit passage into the port by the larger vessels enabled by the canal’s expansion. Raising the Bayonne Bridge has been a key advocacy issue for NAIOP New Jersey and its members. ■


http://www.naiop.org



LLENTOWN, PA – Michael Adams of NAI Summit

r e c e n t l y leased over 40,000 s/f in Allentown in three sep-arate trans-actions.

I n t h e fi rst trans-action, Ad-ams represented both the owner and tenant in leasing 7,000 s/f of warehouse space at 1840 E. Race Street. The tenant, Beck Packaging, has been serving the “indus-trial and protective packag-ing and transport security” needs of businesses in the Lehigh Valley since 1970. The building owner, HVAC Distributors, is a full-service wholesale distributor and manufacturer representa-tive of residential and light commercial HVAC equip-ment and accessories.

In the second transac-tion, Adams represented both the owner and tenant in leasing 10,496 s/f of fl ex space at 6620 Grant Way. The tenant, Americure RX, is an institutional pharma-ceutical company, supplying medicine to senior living facilities, assisted living facilities, etc.

In the third transaction, Adams recently represented the tenant in leasing 22,562 s/f of warehouse space at 2655 Moravian Avenue, Al-lentown, PA. The tenant, McCarthy Tire & Automo-tive Centers, was founded in 1926. The company serves the transportation needs of retail, commercial and in-dustrial users with locations in PA, NY, NJ, VA, NC, MD and OH. McCarthy plans to use the building for truck tire repair and service.

Mike Adams is vice president of NAI Sum-mit specializing in indus-trial & offi ce leasing and sales. NAI Summit is the Greater Lehigh Valley’s only full-service commer-cial/industrial real estate firm servicing Eastern Pennsylvania. Founded in 1982, NAI Summit has consistently maintained the highest volume of commercial transactions by utilizing an extensive network of professional affi liations. ■

Adams leases 40,058 s/f in three lease transactions

NAI Summit represents the tenant in 22,562 s/f warehouse lease in Allentown, PA

A

2655 Moravian Avenue

Commercial Real Estate in the Greater Lehigh Valley • Sales/Leasing/Brokerage

• Investment Sales

• Property Management

• Project Management

• Building Services

• Corporate Services

According to Mike Molewski, founder of Molewski Financial Partners, “NAI Summit’s knowledge of the market enabled us and the landlord to reach an agreement based on current of ce market conditions in the Lehigh Valley. NAI Summit’s commercial real estate expertise was essential in our renewal being nalized while we were able to concentrate on our core business.”

NAI Summit is the Greater Lehigh Valley’s premier full-service Commercial Real Estate firm, founded in 1982 and associated with the world’s largest commercial real estate organization.

Commercial Real Estate Services, Worldwide.

Summit3435 Winchester Rd • Suite 300 • Allentown, PA 18104

610 264 0200 • www.naisummit.com

We are driven by a passion to serve our clients with unsurpassed value.

Michael Adams

6620 Grant Way


http://www.naisummit.com



Q 2012 Industrial Market-View New Jersey’s indus-trial real estate market

thrived in 2011, and if the fi rst quarter of 2012 is at all indica-tive of the rest of year to come, the market will continue to see strong activity and positive mo-mentum.

The increased level of activ-ity seen over the past year has continued into the fi rst quarter of 2012. New leasing velocity rose above six million s/f for the third time in the past fi ve quarters. Prior to 1Q 2011, this volume of activity was not seen since 1Q 2007.

Sales activity was also strong, driven by both investor and user demand. While investors remain very active in New Jersey, ac-counting for 17 purchases during 1Q 2012 alone, user purchases were up 66.9% from 1Q 2010 and up 183.1% from 1Q 2011. The New Jersey industrial market is still witnessing an elevated willingness from users to com-mit to new space; however, there are questions surrounding the market’s ability to sustain this heightened level of activity. With availability dropping by only fi ve basis points to 10.4% during 1Q 2012, the industrial real estate market in New Jersey may be facing another hurdle.

Market indicators remain posi-tive, but the story on the street is one of cautious optimism. Much of the recent increased activity has been the result of a fl ight to quality effect brought on by the recession. The central por-tion of New Jersey has become a haven for tenants looking to not only strike aggressive lease

The market will continue to see strong activity and positive momentum

CBRE NJ 1Q2012 Industrial Market View

1 deals but also upgrade their facilities at the same time. As a result, large blocks of quality available space are disappearing at an increasing rate, especially in Central New Jersey. Further measuring this effect, Central New Jersey’s absorption, which amounted to 1.83 million s/f in the fi rst quarter, continues to outperform that of Northern New Jersey, which saw negative absorption of 1.08 million s/f Increased tenant demand in the market has resulted in stabilized asking lease rates. 1Q 2012 was the fi rst quarter since

2Q 2008 where the State’s asking lease rate did not de-cline. While landlords seem overly anxious to set asking rates higher, tenant sentiment is marked by a reluctance to yield to any increases. Renewal activity tapered off in 2011, but higher asking rates set by land-lords have the potential to force tenants back into a stay-in-place position.

New Jersey’s overall industrial real estate market, having now seen six consecutive quarters of positive performance, demon-strates improving fundamentals. After one of the longest economic downturns in history, owners are anxious to increase lease rates; however, the recession appears to have shifted tenant focus from location-centric to cost-conscious. If landlords are too quick to set higher asking rents, tenant demand could be halted or even, in certain submarkets, driven out of the State.

Employment EconomicsThe national jobless rate con-

tinued to trend downward. Now

at 8.2%, national unemployment has improved by 0.3 percent-age point since December 2011. New Jersey unemployment also continued to improve, although at a much slower pace. At 9.0%, the State’s unemployment rate is down only 0.1 percentage point from December and only 0.3 percentage point from this time last year. As the US economy is expected to modestly grow, the jobless rate will follow suit and continue to improve at a steady pace.

*NJ DLWD & US BLS, March 2012Average Asking Lease

RatesAt the end of 1Q 2012, the

average asking lease rate for industrial property in New Jer-sey remained unchanged from that of 4Q 2011. This is the fi rst quarter since 2Q 2008 that the State’s asking lease rate did not drop. Flight to quality is still prevalent in New Jersey’s industrial market. Tenants are entertaining more affordable space options that would have previously been deemed too logis-tically inconvenient to consider. Central New Jersey is certainly reaping the benefi ts of this trend. While landlords are anxious to realize rent growth, tenants are not yet willing to yield to higher rates.

Average Asking Sale RatesNew Jersey’s average asking

sale rate increased for the third consecutive quarter and now stands at $64.29 psf Northern New Jersey’s asking rate is $73.84 psf and Central New Jersey’s rate is $54.76 psf Both investors and occupiers were very active in 1Q 2012; how-

ever investors were once again responsible for the majority of industrial purchases as New Jersey continues to attract newly raised capital.

Net AbsorptionNew Jersey’s industrial mar-

ket netted a positive 757,639 s/f of absorption during 1Q 2012—the sixth consecutive quarter of positive momentum. Central New Jersey’s absorption of 1.83 million s/f carried the State to positive territory. Leasing in the northern portion of the State, al-though healthy, was not enough to offset the space that hit the market, resulting in 1.08 million s/f of negative absorption. Cen-tral New Jersey, with its newer inventory, is proving to be much more resilient post-recession in being able to accommodate large, modern requirements which have considerable impacts on market performance.

Construction CompletedDuring the first quarter, a

150,000 s/f building finished construction for Ritchie & Page Distributing Company in Rob-binsville. Six properties totaling 751,280 s/f still remain under construction with 516,355 s/f be-ing pre-committed. While many developers seem to have taken a hesitant stance with regards to speculative construction over the past several quarters, large user requirements throughout the State are increasingly limited in options, and one can expect to see a pickup in speculative construction activity this year. In fact, speculative construction projects in the pipeline include a 232,000 s/f building in Carteret and a 350,000 s/f building in

Newark, among others.Port of NY and NJ ActivityActivity at the New York and

New Jersey port terminals con-tinues to increase, which typi-cally prompts growth for the sur-rounding New Jersey industrial real estate market. Year-to-date, loaded container traffi c in TEUs is up 5.2% over the same period last year. The Port Authority is continuing to partake in the US port industry’s East Coast “arms race” in order to upgrade port infrastructure in preparation for larger vessels that will begin to pass through the Panama Canal in 2014.

As the largest port on the East Coast and the third largest in the US, the Port of New York and New Jersey is a passageway to one of the most important con-sumer markets in the world.

*PONYNJ Terminal Operator Data

1Q 2012 Hot Topics• New Leasing velocity rose

above six million sq. ft. for the third time in the past fi ve quar-ters

• Central New Jersey contin-ues to be more resilient than Northern during recovery, net-ting 1.83 million sq. ft. of positive absorption compared to Northern New Jersey’s 1.08 million sq. ft. of negative absorption during the fi rst quarter

• Availability dropped only slightly to 10.4% during 1Q 2012

• Tenants continue to be cost-centric when making real estate decisions

• While speculative construc-tion has been minimal, there are several projects in the pipeline. ■

Top Transactions 1Q 2012

Size (Sq. Ft.) Tenant Address City Type

1, 00 etco Animal Supplies, Inc. 2 rospect lains Rd Cranbury New Lease

10, Lollytogs, Ltd. 301-321 Herrod Blvd South Brunswick Renewal

00, Integrated Distribution Services Group 2 Applegate Dr Robbinsville New Lease

00,000 Systemax, Inc. 2 Applegate Dr Robbinsville New Lease

3, 03 Kuehne & Nagel, Inc. 32 Half Acre Rd Cranbury Renewal

Size (Sq. Ft.) Buyer Address City Type

2 , 2 Woodmont roperties 111 Cokesbury Rd Lebanon Sold to Investor

0 acres Goya Foods, Inc. County Rd Jersey City Sold to User

3 3, Blackstone Group, L 100 Middlesex Center Blvd Jamesburg Sold to Investor

32 ,33 Heller Industrial arks, Inc. 1 Heller ark Ln Franklin Township Sold to Investor

300,000 The Haddad Apparel Group, LTD 231 Herrod Blvd South Brunswick Sold to User

Quick Stats

Change from last

Current Yr. Qtr.

Availability 10.4%

Lease Rates $5.15

Net Absorption 0.76 MSF

Sale Prices $64.29

Vacancy 7.1%

ConstructionCompleted

1

Note: The arrows are trend indicators over the speci ed time period and do not represent a positive or negative value. (e.g., absorption could be negative, but still represent a positive trend over a speci ed period.




LEGACYCOMMERCE

CENTER

BUILD-TO-SUIT OPPORTUNITIES AVAILABLE LEGACY COMMERCE CENTER, L INDEN, NJ

Located in metropolitan New York/New Jersey, Duke Realty’s Legacy Commerce Center offers

over 1 million square feet of warehouse and distribution space with unparalleled access to major

transportation routes, as well as to an abundant trained labor force. Both lease and build-to-suit

opportunities are available in this premier, first-generation development.

60-acre, state-of-the-art industrial park

Located 5 miles from the Ports of Newark and Elizabeth, 3 miles from Newark Liberty

International Airport, and minutes from the New Jersey Turnpike/I-95 exit 13

28' and 36' ceiling heights

ESFR sprinkler systems

Power to suit

Concrete paved trailer pads, levelers, seals and bumpers

TPO mechanically fastened roofs

Rail served by Conrail

Adjacent to Legacy Square, a new retail center with 450,000 square feet of prime retail space

Mindy Lissner | 732.509.2831 | [email protected]

William Waxman | 201.712.5810 | [email protected]

Stacey Weinberg | 732.509.2833 | [email protected]






IndustrIal real estate & dIstrIbutIon Centers

he Greater Reading area is trending up for occupancies in both

the Industri-al and Office sectors. This is welcome news for cer-tain.

M e d i c a l buildings are the strength of the Office growth with a limited nega-tive byproduct: the increas-ing vacancy of the small old fashioned Family Physician offices. Several high tech com-panies have expanded with

By Steve Willems, NAI Keystone Commercial & Industrial

Greater Reading Area on the move —>

T

Lebanon 55,632 SF - SALE /LEASE

St Lawrence Borough 44,643 SF - SALE /LEASE

Womelsdorf 120,000 SF - SALE/LEASE

Call 610-779-1400 to arrange a tour

www.NAIKeystone.com Covering Berks & Schuylkill Counties

Muhlenberg 8,700 SF - LEASE

Reading 8,000 SF - LEASE


Blandon 53,172 SF - LEASE

Reading 5,706 SF - SALE /LEASE

Reading 124,796 SF - SALE

Leesport 36,000 SF - SALE/LEASE



Hamburg 85,276 SF - SALE/LEASE

Hamburg 63,025 SF - SALE

Pottsville 12,750SF - SALE/LEASE

Muhlenberg 24,000 to 185,425 SF - LEASE


Robesonia 226,326 SF - SALE/LEASE

Reading 16,067 SF - SALE /LEASE

We Have Industrial Land Too !

rumors of contract awards in the offing which will drive even more vacancies out of the market. Developer Kin-sley Construction has taken notice and has erected two spec buildings -one 34,000 s/f building is fully leased- and is now planning another. Spec construction has not

happened in the last several years. The absorption is wel-come but the rates are still tracking at 2010 levels.

Due in part to several large tenants ( Crossroads Bever-age with 324,500 s/f and East Penn / DEKA with 200,000 s/f), the Industrial vacancy rates have dropped to the

pre-recession levels. The numbers are also aided by two building disappearing from the market; the 750,000 s/f Armorcast Building was razed and Salient Technolo-gies 250,000 s/f plant is gone too. Scrap steel prices in the + $350/ton range have helped turn these two projects from lemons to lemonade.

The Greater Reading Eco-nomic Partnership reports two sites at the Berks Park 78 which are now under letter of intent. The infra-structure is substantially complete to allow for up to 3 million feet of new industrial

product at this 323 acre site. The Economic Partnership is also working closely with the Berks County Commission-ers who are spearheading a new pre-approval process which will be called JEAP (Joint Express Approval Pro-cess). Quicker approvals for complicated deals is welcome in my world! Look for details to be released soon.

While our market rates (sale & lease) lag lower than in many adjacent markets, the quality of our build-ings, workforce and positive business environment make the greater Reading area a market to watch. We invite you to be part of this exciting change.

Steve Willems is princi-pal of NAI Keystone Com-mercial & Industrial. n

Steve Willems

“While our market rates (sale & lease) lag lower than in many adjacent markets, the quality of our buildings, workforce and positive business environment make the greater Reading area a market to watch. We invite you to be part of this exciting change.”

UNION, NJ — NAI James E. Hanson announced that the firm completed a 9,600 s/f industrial lease transaction at 697 Rahway Avenue in Union.

NAI Hanson senior vice presi-dent Thomas W. Ryan and sales associate Russell J. Verducci represented the landlord, Rum-mel Fibre Co., Inc. Weichert Commercial Brokerage vice president David R. Williams represented the tenant, Ca-nary Custom Closets, which is relocating from 1474 Ridgeway Street, also in Union.

The building totals 30,000 s/f and features a 26-foot clear ceiling height with one drive-in, oversized 20-ft. door. The landlord is building out 1,200 s/f of office space for the ten-ant.

“Canary wanted to stay in Union and this property had many of the features they were looking for such as ceil-ing height and heavy power,” Verducci said. “The tenant is currently in two locations and this unit gives him the space to put his operation under one roof.” n

697 Rahway Avenue

NAI Hanson secures 9,600 s/f indus. lease


http://www.NAIKeystone.com



AST RUTHERFORD, NJ – With the excep-tion of offi ce leasing in

Central New Jersey, the Garden State commerc ia l market expe-rienced a slow start to 2012, according to Cushman & Wa k e f i e l d , Inc. The com-mercial real estate services fi rm’s fi rst quarter offi ce and industrial research findings indicate that while tenant and investment activity remains modest, market fundamentals are steady and showing signs of slow improvement, accord-ing to Gualberto “Gil” Medina, New Jersey executive managing director.

INDUSTRIAL RECAPNearly 4.6 million s/f in indus-

trial leasing in Northern and Central New Jersey represent-ed an 18.8 percent year-over-year decrease. Still, a number of notable transactions closed, particularly in the central coun-ties. Among them, pet supply retailer Petco leased 781,300 s/f at 257 Prospect Plains Road in Cranbury. In Robbinsville, com-puter and electronics retailer Systemax committed to 500,102 s/f at 24 Applegate Drive.

Investment activity involv-ing existing industrial product totaled 1.6 million s/f during the fi rst quarter, representing a 44.4 percent drop in year-over-year volume. The largest sale involved Heller Industrial Park’s acquisition of 1 Heller Park Lane (323,985 s/f) in Som-erset for $11.1 million. In Tean-eck, electrical contractor Grant Electric purchased 411 Alfred Avenue (184,000 s/f) for $6.2 million, while in North Bergen skin care manufacturer Der-maRite Industries purchased 7777 West Side Avenue (126,618 s/f) for $7.87 million.

Statewide, the industrial vacancy rate increased by 0.2 percentage points during the first quarter of 2012, for an overall rate of 9.8 percent. “This slight increase was due to sev-eral large blocks of space, which entered the market in Northern New Jersey and negatively impacted absorption,” Medina said. “For context, Central New Jersey, where rates are more competitive because of the added distance to Port and NYC in-roads, experienced a 0.2 percentage point decrease

Merin, Bernhaut, Gabriel & Zimmel rep the seller in $15.85m sale of 75 Commerce Drive

NJ’s strong, steady fundamentals bode well,with increased activity expected

E

75 Commerce Drive

Gualberto Medina

in vacancy.” The direct average asking

rental rate for industrial re-mained steady since end of 2011 at $5.62 per s/f. “Direct asking rental rates this year should hold as vacancy slowly drops,” Medina said. “Looking ahead, Central New Jersey’s vacancy rate is expected to decrease more quickly than in the northern counties. The virtually non-existent supply of ‘big box’ in that market and high demand for the same will shape developer and investor decisions.” In other news, Cushman & Wakefi eld’s Metropolitan Area

Capital Markets Group (CMG) has orchestrated the $15.85 million sale of 75 Commerce Drive, a 114,206 s/f high-tech/flex industrial facility within Allendale Corporate Center. The seller was represented by the CMG team of Andrew Merin, David Bernhaut, Gary Gabriel and Jared Zimmel in East Rutherford, NJ, and Frank Caccavo, Jason Goldman, Marc Petrella and Andrew Siemsen of the fi rm’s Edison, N.J. offi ce. The buyer was a joint venture between Loeb Partners Realty LLC led by Nick Rizzo and Red Pine Capital Partners led by Michael K. Federman. ■

Metropolitan AreaCapital Markets Group

Andrew J. Merin, Vice Chairman 201-460-3358David W. Bernhaut, Vice Chairman 201-460-3356

H. Gary Gabriel, Exec. Vice President 201-460-3352Brian J. Whitmer, Senior Director 201-508-5209

100 SCIPARK BLVD.66,000 SF

SALE OF SINGLE-TENANTOFFICE AND LAB BUILDING

EAST WINDSOR, NJ

75 COMMERCE DRIVE114,000 SF

SALE OF MULTI-TENANTFLEX BUILDINGALLENDALE, NJ

60 INDUSTRIAL PARK DR.719,000 SF

SALE OF SINGLE-TENANTDISTRIBUTION FACILITY

MILTON, PA

65 CLYDE ROAD159,000 SF

SALE OF MULTI-TENANTWAREHOUSE BUILDING

SOMERSET, NJ

111 COKESBURY ROAD729,000 SF

JV ADVISORYINDUSTRIAL BUILDING PURCHASE

CLINTON, NJ

18 HERROD BLVD.305,000 SF

SALE OF SINGLE-TENANTDISTRIBUTION FACILITYSOUTH BRUNSWICK, NJ

Over $290 Million of Investment Sales to Date in 2012



MAREJ INDUSTRIAL TRANSACTION REPORT 2011AS REPORTED IN THE Mid Atlantic REAL ESTATE JOURNAL JANUARY 14 - DECEMBER 23, 2011

Seller/ Rep. of Buyer/ Rep. of Property Owner/ Seller/ Tenant/ Tenant/ Name Address Lessor Lessor Lessee Buyer Price Size Desc. S/L Month

1901 E Linden Ave Linden, NJ Hampshire Cos — Joma Realty Marcus & Millichap — 36,000 SF Ind S Jan

1221 E Elm St York, PA — ROCK HR Pharmaceuticals ROCK — 29,160 SF Ind L Jan

180 Roosevelt Ave York, PA — ROCK Piping & Mechanical Sys ROCK — 10,000 s/f Ind L Jan

36 E Main St New Kingstown, PA Seagis Prop Grp Cushman & Wakefield Fry Communications — — 146,500 s/f Ind L Jan

100 Cascade Dr Allentown, PA — Collers Int’l MIM Hayden Mgmt CBRE 165,000 SF Ind S Jan

1336 Spahn Ave York, PA — ROCK YORK Cab ROCK — 2,278 s/f Ind. L Jan

10 Fairway Ct Northvale, NJ Hampshire Cos NAI Hanson Fillo Foods MRH RE 85,000 SF Ind/Flex L Jan

Logisticenter at Logan Logan, NJ Dermody Properties Dermody Properties — — — 599,500 s/f Ind S Jan

LogistiPort Industrial Park Savannah, GA Dermody Properties Jones Lang LaSalle JLA Home Colliers Int’l & Townsend Comm’l — 689,400 s/f Ind S Jan

83 White Oak Dr. Berlin, CT The Hampshire Cos Cushman & Wakefield Sportika Export — — 53,360 s/f Ind L Jan

— Totowa, NJ — Marcus & Millichap — — $5m 83,319 s/f Ind S Jan

200 Docks Corner Rd. SADDLE BROOK, NJ AMB Properties JLL Vision Automotive CBRE — 58,560 s/f Ind L Jan

26 E. Fleming Pike Camden County, NJ Ojserkis Family Props Roddy Painter’s District Council — $1m 24,000 s/f Ind S Jan

4-24 Sellers St. SADDLE BROOK, NJ Everest Realty CBRE SG Footwear NAI Hanson — 29,000 s/f Ind L Feb

266 Hafer Rd. Lewisburg, Tally Twp., PA Consolidated Electric Landmark Parkes-Miller Properties CBC Penn One — 18,750 s/f Ind S Feb

351 East St. YORK, PA — ROCK M&P Amusement Co ROCK — 8,700 s/f Ind L Feb

6035 Gross Point Road Niles, IL TR 13126, LLC Colliers International DP Partners — — 149,474 s/f Ind S Feb

8451 Willard Dr. Lehigh Valley, PA Liberty Prop Trust — — — — 389,866 s/f Ind L March

705 Boulder Drive Lehigh Valley, PA Liberty Prop Trust — — — — 615,000 s/f Ind L March

1680 Rohrerstown Rd. Lancaster, PA New Prime & Success Leasing HighPointe Commercial DAL Partners NAI Commercial Partners $2.1m 11,500 s/f Ind S March

1505 Ford Rd Bensalem, PA Frantz RE Partnership Roddy Compass Sign Company — — 26450 s/f Ind S March

1299 West Forest Grove Rd. — Vineland, NJ B.D.G.S. Colliers Int’l Tech Tube — 50,000 s/f Ind L March

485 Route 1 South Iselin, NJ KBS Realty Advisors CBRE Progressive Casualty Insurance Colliers Int’l — 22,494 s/f Ind L March

260 Schilling Circle Hunt Valley, MD The Murray Corp Blue & Obrecht Metals & Residues Processing MacKenzie Commercial RE — 40,212 s/f Ind L March

7045 Troy Hill Dr Elkridge, MD — Cushman & Wakefield Meadowgate Technologies Blue & Obrecht — 14,542 s/f Ind L March

Chambersburg, PA Liberty Prop Trust — — — — 475,640 s/f Ind/Whse L March

34 E. Main St. KING OF PRUSSIA, PA — Grubb & Ellis Lexmain Realty Ventures — — 179,200 s/f Ind/Whse S March

1012-1022 Grand St. Hoboken, NJ D. Kwitman & Son De Ruggiero Realtors Stylcrest Fabric — — 17000 s/f Ind. L April

1200 Rte 523 Flemington, NJ Equity Industrial Ptrs Colliers Int’l Flemmington Dept. Store Colliers Int’l — 40,000 s/f Ind. L April

1200 Rte 523 Flemington, NJ Equity Industrial Ptrs Colliers Int’l Customized Dist. Svcs. Colliers Int’l — 35,000 s/f Ind. L April

Reston-Herndon Business Pk Tyson Corner, VA Kenwood Mgmt. Kenwood Mgmt, Grubb & Ellis GSA — GSA — 48,000 s/f Ind. L April

256 Geiger Rd. Philadelphia, PA David Twersky NAI Mertz Bambi Day Care NAI Mertz — 12,000 s/f Ind/Off S April

4 Center Dr. Baltimore, MD Northeast Commerce Cnt. C&W GSA GSA — 76,800 s/f Ind L May

4 Center Dr. Baltimore, MD Northeast Commerce Cnt. C&W Herr’s C&W — 56,600 s/f Ind L May

Monroe & Cranbury NJ Black Rock C&W Morgan Stanley C&W — 16 Bldg. Portfolio Ind S May

49 Distribution Blvd. Edison, NJ Heller Ind. Pks. — Joshen Paper Joshen Paper — Ind L May

180 Greenfield Rd. Lancaster, PA MBJA NAI Comm’l. Ptrs. JR Transportation NAI Comm’l. Ptrs. — 3128 s/f Ind L May

30 Industrial Rd West Donegal, PA 30-32 Industrial Road Assoc. Landmark Comm. Realty Tarantin Tank & Equipment Landmark Comm. Realty — 42,120 s/f Ind L June

3524—Delta—Rd. Airville,—PA ROCK—Commercial— RET’s—Welding—&—Fabrication — — — 5,136—s/f Industrial L Sept

64—Leigh—Dr.— York,—PA ROCK—Commercial— — Pro—Conveyor,—LLC — — 5,000—s/f Industrial L Sept



MAREJ INDUSTRIAL TRANSACTION REPORT 2011AS REPORTED IN THE Mid Atlantic REAL ESTATE JOURNAL JANUARY 14 - DECEMBER 23, 2011

Seller/ Rep. of Buyer/ Rep. of Property Owner/ Seller/ Tenant/ Tenant/ Name Address Lessor Lessor Lessee Buyer Price Size Desc. S/L Month

2115—Alpha—Dr. York,—PA ROCK—Commercial—RE — ROCK—Commercial—RE — — 4,000—s/f Industrial L Sept

670—Belleville—Tpke. Kearny,—NJ Cushman—&—Wakefield — Terreno—Realty—Corporation — $32.6m 211,000—s/f Industrial S Sept

405—E.—Marsh—Ln. Newport,—DE HDC HHA Tile—Market — — 55,960—s/f Industrial L Sept

11 Perina Boulevard Cherry Hill, NJ Macy’s Corporate Services Colliers International Perina Associates LLC Mertz Corp. $3.34m 238,000 s/f Ind. S Oct

20 Kilmer Rd. Edison, NJ One Step Up, Inc. Team Resource, Inc. Hansem America Inc. Colliers International — 145,000 s/f Ind. S Oct

85 Steam Boat Dr. Warminster, PA — NAI Mertz Cheetath Transp. Moving & Storing Maryland Road Associates — 17,500 s/f Ind. L Oct

208 Bucky Dr. Lititz, PA The Schutlz Group, LP US Commercial Realty Richlynd, LP NAI Commercial Partners $1.025m 25,160 s/f Ind. S Oct

103-109 South Manor St. Mountville, PA Cucieger LP NAI Commercial Partners Woratyla LP and McDermott $725,000 37,000 s/f Ind. S Oct

1151 S. Duke St. Lancaster, PA SBO REO LLC NAI Commercial Partners South Duke Holdings NAI Commercial Partners $700,000 17,500 s/f Ind. S Oct

3865 Old Harrisburg Pike Mount Joy, PA Guest, Inc. NAI Commercial Partners CLB Property, Ltd. NAI Commercial Partners $600,000 11,037 s/f Ind. S Oct

491 Maryland Ave. York, PA — ROCK Commerical RE Muscle Cars & More ROCK Commerical RE — 12,416 s/f Ind. L Oct

310 Emig Rd. Emigsville, PA — ROCK Commerical RE Sarva Bioremed, LLC ROCK Commerical RE — 9,000 s/f Ind. L Oct

277 Wilson Court Yoe, PA — ROCK Commerical RE Stanley Hoke — — 4,685 s/f Ind. S Oct

401 East Locus St. Dallastown, PA — ROCK Commerical RE AA Young Machining, LLC ROCK Commerical RE — 2,799 s/f Ind. L Oct

1850 Lemon St. York, PA — ROCK Commerical RE GIO Express Inc. ROCK Commerical RE — 1,500 s/f Ind. L Oct

300 Fayette St. Shippensburg, PA Hoffman Mills, Inc. NAI CIR Randall L. Chamberlin George L. Eberner & Assoc. 8.28 Acres Ind. Land S Oct

— Linden, NJ Marcus & Millichap NJ — Marcus & Millichap NJ — $4.8m 36,000 SF Ind S Nov

140 S Main St Manchester, PA — — Gradison Mgmt Springwood Comm’l $400k 31,180 SF Ind S Nov

491 Marylan Ave York Cty, PA — Springwood Comm’l WBF Grand — $300k 34,682 SF Ind S Nov

1890 Old Crooked Hill Rd Harrisburg, PA — Landmark Convenient Ventures RSR Realtors 7200 SF Ind L Nov

4049 Landisville Rd Doylestown, PA F. Shuman NAI Mertz TF Ptrs — $2.1m 36,000 SF Ind S Nov

7036 SnowdriftRd Allentown, PA Denholtz NAI Summit UL Verification — — 38,510 SF Ind L Nov

4301 N Delaware Ave Philadelphia, PA ARCA Sidney E Gable — — $6m 80,000 SF Ind L Nov

1310 Old Crooked Hill Rd Harrisburg, PA Robert Kint Landmark Pagoda Electrical — — 3750 SF Ind/Flex L Nov

550 S Henderson Rd King of Prussia, PA Raymor & Flanigan JLL Lyon Conklin Swope Lees — 83,000 SF Ind/Whse L Nov

65 Clyde Dr Somerset, NJ 65 Clyde Road Bunge Amophic Solutions NAI Mertz — 19,900 SF Ind L Dec

Tuckerton Rd Reading, PA Brasler, Endurance RE NAI Keystone PCA Colliers — 220,000 SF Ind L Dec

2200 Hathaway Rd Lancaster, PA — Cushman & Wakrfield B&B Structures US Comm’l Realty $900k 29,000 SF Ind S Dec

2715 N. 7th St Harrisburg, PA Shadow Canyon Family Landmark Robin Ellen Realty NAI CIR 104,502 SF Ind S Dec

454 Valley St South Orange, NJ — CBC NRT — Fallivene Agency $500k 11,000 SF Ind S Dec

1996 N Mill Rd Vineland, NJ NBVW Eagle Comm’l RE Chemglass — — 16,000 SF Ind S Dec

917 Old Fern Hill Rd West Chester, PA Fern Hill Assoc Swopes Lee Furnhill Business Ctr — $3m 40,000 SF Ind/Flex S Dec

26 E. Fleming Pike Camden, NJ Ojserkis Family Prop.Roddy — Painter’s District Council 711 Holding — $1m 24,000 s/f Ind S Dec

ProLogis Park Easton, PA ProLogis — Walgreens — — 510,000 s/f Ind L Dec

257 North Duke St York, PA — ROCK Comfort Home — — 3,264 s/f Ind L Dec

950 Square St. Mount Joy, PA The Four Buoys NAI Commercial Ptrs Trinity Alloys. Century 21 — 47,000 s/f Ind L Dec

140 - 150 Jalyn Dr. New Holland, PA Samuel Esh and Sharon Faye Esh U.S. Commercial Realty — NAI Commercial Ptrs — 10,000 s/f Ind L Dec

18201 Portal Way Portland, OR Dermondy Props — BWGS — — 45,000 s/f Ind L Dec

12104 IndianCreek Ct Beltsville, MD Cabot III-MD1Wo1-W03 Transwestern Metropolitan Equip SVN-Skogmo — 15,589 s/f Ind L Dec

9015 Junction Dr Annapolis Junction, MD Junction Props SVN-Skogmo Blue Moon Granite Cassidy Turley — 16,564 s/f Ind L Dec




ndustrial/Distribution R.E. facilities have had limited overall activ-

ity the last three years. This should not be the case in the future. Cor-porations, to remain com-p e t i t i v e , will change their current facilities. Fa-cility factors to consider are ceiling heights, energy costs, (could be decreased by new construction), and location. (a site with better highway access and lower tax base etc.)

Now is the time for com-panies to negotiate their lease extensions as the cur-rent real estate. prices are lower. Owners do not want a vacant facility. Importers have to review establishing facilities on both the east and west coast. Now is the time for companies to have effective operations. That is to say, vacant multi story fa-cilities, with high labor cost. R.E. loans have low interest rates, therefore it may be a wise decision to purchase a property.

Over the last few years

By Sidney Gable, CRE, SIOR, Sidney E. Gable Associates

2012 & 2013 will be very positive for Industrial REI

developers have built fewer spec buildings in our region thereby reducing the inven-tory of available modern industrial bldgs. Vacancy of regional industrial space is about 8 to 8 ¼ % (modern one story facilities). The average asking price is about $4.50, up from $4.00 a square foot for general industrial space. Manufacturing and lab space is approximately $6.00 to $7.00 a s/f.

Many companies are look-ing in the Williamsport area. We assisted an investor to purchase a 25,000 s/f new building to enter into a lease with a tenant ( a service company). Currently the Al-lentown area has increased activity as well as Southern NJ and Delaware.

Local real estate taxes have encouraged a few large distribution and warehouse companies to move to Dela-ware and New Jersey. Lib-erty Property Trust is build-ing a 150,000 s/f spec build-ing in the Allentown area. Teva is building a million s/f facility in Philadelphia. They received tax incentives from the city. (a ten year tax abatement with the city building new access roads to service the facility.)

Some of the sale prices in 2012 reflect the improved prices. ie

A . 2 0 0 We s t S t e w a r t -Huton Drive

-202 Corridor -Buyer- AREA -PropertyPartners -314,52 s/f for $16,200,000

/$51.51 s/fB. -190 Rittenhouse Circle -Lower Bucks County

-Buyer- Action Manufacturing Company, Inc. - 1 1 8 , 2 8 2 f o r

$6,125,000/$51.78 s/fC. -King of Prussia -Oaktree Capital Man-

agement purchased a 50,000 s/f fl ex building for $2.9 mil-lion and a 56,000 s/f ware-house and distribution facil-ity for $2.5 million.

We currently have two warehouse buildings under contract which we hope to settle this month. This is the worst industrial/distribution recession I have witnessed. I really believe it is behind us. Only time will tell. I feel that 2012 and 2013 will be very positive for the Industrial Real.Estate Industry.

Sidney E. Gable is principal of Sidney E. Gable Associates, Inc. located in King of Prussia, PA. ■

Sidney Gable

By Jason M. Crimmins, CCIM, SIOR,

Our continued outlook is still one of growthAs of the fi rst quarter of 2012, there is a noticeable delta be-tween the Northern and Cen-tral industri-al markets of New Jersey. A c c o r d i n g to internal r e s e a r c h and CoStar s t a t i s t i c s , Northern NJ witnessed a negative net absorption and a slight de-crease in asking rental rates, as opposed to the Central NJ market, which has experienced an increase in leasing velocity and a rise in asking rental rates. Vacancy as a whole for the industrial NJ market also increased to ±9.9% and speculative development has been kept to a minimum (River Terminal Development’s (RTD) 189,000 s/f in South Kearny and ProLogis’ 345,000 s/f in Secaucus). The lack of available high cube industrial Class A infra-structure in the Northern NJ market is one of the reasons forcing tenants down the NJ Turnpike to the 7A and 8A corridor, providing a final destination to their ‘Flight to Quality’ path for newer, larger and better quality facilities. The other reason is cost - $7.75 psf NNN compared to $3.75 psf respectfully is an immense motivation. In the fi rst quarter alone, tenants such as Petco inked deals of 781,300 s/f, Systemax 500,102 s/f and IDS USA 500,528 s/f. Despite these larger trans-actions, the market has been playing musical chairs to some degree but deals are still being completed. My team from The Blau & Berg Company, cel-ebrating its 80th anniversary, had a robust 1Q with over 1 million s/f of deals completed and witnessed increased de-mand in land availabilities particularly in our 30-acre site

available for lease (divisible) and 16-acre parcel (for sale with entitlements and existing approvals for 294,000 s/f) both located nearby to the ports of Elizabeth and Newark. This is a positive sign moving forward. In the short run, however, we may be in for a brief slow down caused by the continued concerns and tensions brewing with the Euro, rising unem-ployment in Spain and Greece and Americas decreased gov-ernment stimulus spending, and economic growth (Fitch Ratings and Oxford Econom-ics) causing consumers to have a watchful eye. Our continued outlook is still one of growth but at a modest pace. With the deepening and widening of the Panama Canal, New Jersey’s deep water ports, infrastructure (direct rail ser-vice, bulk cargo handling facili-ties, interim rail terminal, auto preparation centers, etc) and dense population our market should be relatively secure, as long as we remain competitive with other east coast ports such as Charleston and Savannah. Certain state and city incen-tives instituted by Governor Christie, quasi-governmental groups (Brick City Develop-ment Corporation for Newark, NJ) and Ted Zangari of Sills Cummis, have done an excel-lent job attracting the likes of Goya, Peapod, Prudential, Panasonic, Daily News, Camp-bell Soup, Damascus Bakery and Pearson among others. Additional contributors are the developers, such as RTD, The Rockefeller Group and ProLo-gis, Inc., which have been on the frontlines bringing quality facilities to the markets, as well as allowing New Jersey to be in the best position to com-pete for those users destined for the East Coast. Jason M. Crimmins, CCIM, SIOR is the executive vice president of The Blau & Berg Company. ■

Jason M. Crimmins

Matrix announces completion of 150,000 s/f ROBBINSVILLE, NJ —

Matrix Development Group, one of the Northeast’s most active and well-regarded real estate investment and development companies, an-nounced the completion of construction of a new 150,000 s/f build-to-suit distribution building for Ritchie & Page Distributing Company, Inc. The facility was constructed within the Matrix Business Park at Exit 7A off the New Jersey Turnpike in Robbins-

ville, NJ. The state-of-the-art build-

ing features 112,500 s/f of warehouse/distribution cen-ter and a 10,000 s/f draught cooler room, as well as 19,500 s/f of 32-ft. clear drive-through loading space and 18,000 s/f allocated for offi ce space. The building also features 20 loading dock positions, 124 car parking spaces, 82 truck/trailer parking spaces, an en-closed truck service area and an on-site fi lling station. ■

ELMWOOD PARK, NJ — River Drive Construction Co., a leading New Jersey construc-tion company based in Elm-wood Park, NJ, has announced the fi rm recently completed a $1.3 million renovation on a 600,000 s/f distribution center for SYNNEX Corp., a logistics and supply chain management company, in the New Jersey Turnpike Exit 8A area, in South Brunswick, NJ.

“We’re thrilled to announce the completion of the SYNNEX project,” said Joseph Langan, President of River Drive Con-struction. “As a result of our breadth of knowledge in the industrial space and our close relationships with South Bruns-wick municipal officials, we were able to complete this high security, fast-tracked project on time and on budget. The completion of this project is another notch on our belt at Exit 8A.”

River Drive Construction served as the general contractor

for the project, which started in September of 2011 and entailed warehouse restroom renova-tions, new lighting and 8,000 s/f of offi ce and café space. Atlantic Realty of New Jersey, a privately held real estate development company, owns the building. KSS Architects, a full-service architecture, planning, and interior design fi rm with offi ces in Philadelphia and Princeton, N.J., served as the architect of record.

In addition to general con-struction and ground-up proj-ects, River Drive, which was founded in 1989, provides con-struction and consulting servic-es to developers, management companies, end users and corpo-rations in New Jersey, southern New York and Pennsylvania in sectors including interiors, sci-ence and technology, hospitality, institutional, healthcare and retail.

Since 2007, River Drive Con-struction has completed six in-dustrial facility projects within

a 3.5-mile radius of Exit 8A on the New Jersey Turnpike, totaling over 3 million s/f and representing over $14 million in contracts.

These projects include Melissa & Doug, one of the world’s largest toy distributers; Invacare Corp., the world’s leading producer of wheelchairs, bariatric equipment designed for large and obese pa-tients and other homecare prod-ucts; Papa John’s Pizza, one of the world’s largest pizza makers; GTECH Corp., a leading gaming technology and services company; and Market Resource Packaging Corp., one of the nation’s largest contract packaging companies.

“River Drive Construction maintains outstanding relation-ships with local municipalities,” said Langan. “We strictly follow local rules and regulations and by working side-by-side with the local building officials we are able to expedite these projects and complete them on time and on budget, which is a win-win for everyone.” ■

River Drive Construction completes $1.3 million renovation project for SYNNEX Corporation


www.marejournal.com Mid Atlantic RealEstateJournal—Industrial/DistributionCenters—May25-June7,2012—InsideBackCoverB


Back Cover B— May 25 - June 7, 2012 — Industrial / Distribution Centers — Mid Atlantic Real Estate Journal www.marejournal.com

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