11-11-11 Mid Atlantic Real Estate Journal

the most comprehensive source for commercial real estate news

REAL ESTATE JOURNAL

Inside:SectionsMid Atlantic .......................................................Section A

New Jersey ........................................................ Section B

Pennsylvania ................................................... Section C

Spotlights / FeaturesAuctions ........................................................................ 4-5A

Financial Featuring Lenders Directory .........7-17A

Calendar of Events ......................................................19A

Business Card Directory .........................................21A

Tristate Commercial Alliance ......................22-23A

BillBoards ...................................................................... 24A

ColumnistElliott Gansner ................................................................2A

Next IssueNovember 25, 2011

• Mid Atlantic

• Shopping Centers: NY ICSC Deal Making

• COM: Parking Lot Maintenance & Subcontractors

• Spotlight: Professional Services

3 sections, 72 pages

Vol. 23, Issue 21 November 11- 24, 2011

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

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

Lender’s Directory

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

Central New Jersey Project of the Month

Swope Lees facilitates $3m industrial building sale

Bruce CoinBruce Coin

Consulting, Inc.

Sam BernsNorthMarq

A Inside Cover — October 28 - November 10 , 2011 — Mid Atlantic Real Estate Journal MAREjournal.com

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MAREjournal.com Mid AtlanticRealEstateJournal—November11-24,2011—1A

2A — November 11 - 24, 2011 — Mid Atlantic Real Estate Journal MAREjournal.com

Mid AtlanticReal Estate Journal

s a commercial proper-ty owner or developer, the hardest choice to

make when it comes to solar is not deciding if installing a solar system is a sound investment. That decision is becoming eas-ier as solar power is an increas-ingly smart investment.

In addition to state and fed-eral incentives that can de-crease the payback period to a matter of a few years in many cases, commercial property owners who install solar save thousands of dollars a year on electricity costs and make their properties more attractive to potential tenants and buyers.

But just as the decision to in-stall a solar system has grown easier, the decision regarding the type of solar module to install has become more dif-fi cult. The rapid proliferation of solar component manufac-turers has created an increas-ingly crowded market in which understanding the differences between different components is ever more time-consuming

A

Mid Atlantic REAL ESTATE JOURNALPublisher ............................................................................Linda ChristmanCo-Publisher .........................................................................Joe ChristmanSection Publisher ..............................................................Michael CampisiSection Publisher ................................................................Elaine FanningSenior Editor/Graphic Artist ................................................ Karen VachonProduction Assistant ........................................................ Rachel RugmanOffi ce Manager ...................................................................Joanne GavazaEditorial Consultant ............................................................. Ben Summers

Mid Atlantic REAL ESTATE JOURNAL ~ Published Bi-Monthly

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Periodicals postage paid at Rockland, Massachusetts and additional mailing offi ces

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

By Elliott GansnerSolar Power, An

Increasingly Smart Investment

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We make sure they write the check.

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and laborious.One huge segment for solar

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

derstand the complicated solar module market.

According to ENF, a market research fi rm, there are over 1,000 manufacturers of solar modules worldwide offering not only different types of mod-ules, but also different types of technologies ranging from crystalline silicon to thin-fi lm to concentrated photovoltaic (CPV). To further complicate matters, solar project develop-ers have to ensure that the panels they buy fi t with racking systems and roof types.

For commercial property owners and contractors, the solar module decision can be

continued on page 20A

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MAREjournal.com Mid AtlanticRealEstateJournal—November11-24,2011—�A

Mid AtlAntic ReAl estAte JouRnAl

ave you contemplated retrofitting your exist-ing space to create a

more energy-efficient or LEED-certi-fied work en-vironment? I f s o , y o u have likely reviewed the costs asso-ciated with sustainability type retrofits, which can be tough to justify or, once justified, just plain tough to fund. There are, however, several federal and state incen-tives available to offset some of these costs.

As you may be aware, U.S. commercial buildings use 72% of the electricity, 55% of the natural gas, and 40% of pri-mary energy consumed in the country (see S. 1000, The En-ergy Savings and Industrial Competitiveness Act of 2011 (ESIC)). As a result, a variety of federal, state, and local in-centives are, and have been, available to encourage com-mercial property owners to maximize the efficiency of their buildings.

FederalIncentivesWhen searching for available

federal incentives, look first to Section 179D of the Internal Revenue Code (Code). Section 179D allows for deductions with respect to costs for certain types of energy-efficient equip-ment and systems placed into commercial buildings before January 1, 2014. It also al-lows for partial deductions for energy-saving systems that re-duce energy consumption by at least 16–2/3%. Energy-efficient equipment and systems include equipment installed as part of the interior lighting systems, HVAC, or the building envelope as part of a plan to reduce ener-gy consumption. In addition to partial allowances for specific, high-efficiency building sys-tems, Section 179D provides for a maximum deduction of $1.80 per square foot if a retrofit is designed to achieve efficiencies by 50% above ASHRAE 90.1 standards as set forth in the Code—a level that rarely has been achieved.

There are key proposed changes to Section 179D un-der discussion in Washington, D.C. For example, there is talk of modifying Section 179D to permit real estate investment trusts (REITs) (which cannot effectively use the deduction

ByJeannineBishopandBradMolotsky

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currently permitted under the Code) to more appropriately utilize this Section of the Code.

In addition, t h e r e a r e other chang-es under dis-cussion that would allow owners/ten-ants to obtain portable, as-signable de-

ductions for improving sub-stantial space within a building (even if the entire building is not improved). Moreover, while the ASHRAE 90.1 standard is

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

continuedonpage20A

Jeannine Bishop Brad Molotsky

Greg Pine, Broker-SalespersonSenior Vice President

Gebroe-Hammer Associates2 West Northfield Road, Livingston, NJ 07039

(973) 994-4500 | Fax: (973) 994-9752 | [email protected]

6A—November11-24,2011—Mid AtlanticRealEstateJournal MAREjournal.com

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MAREjournal.com Mid AtlanticRealEstateJournal—November11-24,2011—�A

oVER, DE — Sam Berns, senior vice president and manag-

ing director of NorthMarq C a p i t a l ’ s (NorthMarq) Upstate New York Region-al office ar-ranged first m o r t g a g e acquisition financing in the amount of $18.885 million for Eagle Meadows, a 294-unit mul-tifamily complex located at 4666 Carolina St.

Financing was based on a 10-year term with two years interest only then a 30-year amortization schedule and was arranged for the bor-rower by NorthMarq through its affiliate AmeriSphere Multifamily Finance, LLC, a Fannie Mae DUS lender.

According to Berns, the financing represented the

DesRochersandPolizzoorchestrates$�.�millionmortgage

BernsofNorthMarqCapitalarranges$18.88�millionmortgage

of US 40. According to Polizzo, The

Home Depot serves as an anchor to the 602,000 square foot Frederick Towne mall along with Boscov’s Depart-ment Store and Hoyt Cinema. The Mall is in the final stages of planning for redevelopment which should add other big-box retailers to the area and

further support the property when completed. Financing for this transaction was based on a 20-year term and a 20-year amortization schedule and was arranged for the borrower, Golden Mile Real Estate LLC, by NorthMarq through its correspondent relationship with ING Invest-ment Management. n

D

Sam Berns

acquisition of a recently re-positioned military multi-family housing development. He stated, “AmeriSphere creatively structured around several title issues.”

Deanna Polizzo vice presi-dent, and Ernest DesRo-chers, senior vice president and managing director, of NorthMarq Capital’s New

York City office arranged first mortgage financing of $7.5 million for The Home Depot, a 130,000 s/f retail property located on West Patrick St. in Frederick, MD. This as-set is well-located in an area known as the “Golden Mile” retail corridor. It’s the region’s largest concentration of retail space along a 3-mile stretch

4666 Carolina Street The Home Depot

BRooKLYN, NY — Man-hattan-based Hudson Re-alty Capital LLC has funded $8 mill ion in note ac-quisition fi-nancing se-cured by the debt on four industr ia l buildings, lo-cated in the Wi l l i a m s -burg section of Brooklyn. The company has been active in providing note acquisition financing nationwide, with an emphasis on the New York-metropolitan region.

“Note acquisitions are in-herently dynamic and com-plex transactions. Hudson was able to provide a cre-ative, flexible structure that allows the sponsor to effectu-ate the business plan,” said Spencer Garfield, managing director.

In addition to note acquisi-tion financing, Hudson also is targeting new loan origina-

HudsonRealtyCapitalfunds$8millionnoteacquisitionfinancing

tions, DPo and DIP financ-ing, good bank/bad bank and general partner recapitaliza-tions as part of its Debt Pro-gram. Currently, the company has more than $2.5 billion of assets under management and has closed more than $3.5 million in transactions since the formation of its initial two funds in 2003. Hudson also is active in large loan-portfolio acquisitions and asset management activities, the latest of which involved the purchase of a Colorado portfolio of 97 acquisition, development and construc-tion (ADC) loans as part of an FDIC-structured sale.

Hudson has funded a $5 million bridge loan for the pur-chase of 38,805 s/f of retail con-dominium space in Brooklyn. The borrower’s business plan entails leasing the balance of the available commercial space.

“Hudson was able to achieve a strong risk-adjusted return when the borrower came to us

for speed and surety of execu-tion,” said Spencer Garfield, managing director. “Hudson closed in four days to satisfy the borrower’s time-of-essence to close.”

The downtown Brooklyn property is comprised of four separate ground-floor retail units that collectively make up two condominium buildings. of the total 38,805 s/f of retail space, approximately 9,400 s/f is vacant.

Hudson has funded a $5.65 million DPo loan for a 14,000 s/f mixed-use loft building in New York City. The sponsor is utilizing the proceeds to refinance and renovate the five-story building located in the heart of the city’s Tribeca neighborhood.

“This loan exemplifies a pre-vailing need for rescue capital among borrowers seeking to purchase their own debt back at a discount,” said Spencer Garfield, Hudson’s manag-ing director who oversees the company’s originations. n

Spencer Garfield

CronheimMortgagearranges$4.86�millionfinancing

MANHATTAN, NY — Dev Morris and Andrew Stewart have arranged a $4.865 mil-lion loan secured by a 13 unit property with two storefronts in Manhattan. It is on the south side of 29th St. between Second and Third Avenues. The 10-year loan has a fixed interest rate of 4.50% and am-ortizes over 30 years. The loan represents 70% of the $6.95 million purchase price

The building is a 25 ft wide five story plus basement walk-up apartment build-ing totaling 9,460 s/f. Two of the 13 apartments are rent controlled. The balance of the units are renovated two bedrooms with new hard-wood floors, marble tiles in the bathrooms, granite coun-tertops and new appliances including dishwashers in the kitchens and washer/dryers. The two stores are a salon and a dry cleaner who have been in occupancy for many years. Janet Proscia, managing di-rector of David Cronheim Mortgage Corp., is pleased to

announce the completion of two medical office financing transactions.

The client was seeking to raise proceeds sufficient to retire existing debt on its 22,000 s/f, East Brunswick, NJ medical arts building, and reduce its level of recourse at the same time. Proscia stated that the $3.7 million, 5-year fixed rate loan was consum-mated with a regional bank at a very high loan to value ratio with only minimal top level recourse required. “This client was extremely pleased to have satisfied its financ-ing objectives, as was I” Mrs. Proscia said.

In another medical office building transaction located in old Greenwich, CT, the client needed a short term, floating rate loan to maximize flexibility in the event of asset disposition in the next one to two years. Proscia said, “The challenge here was 25% vacancy and lease roll in a couple of years for another 25% of the property.” n


lendeR’s diRectoRyByBruceCoin,BruceCoinConsulting,Inc.

TheCurrentCommercialMortgageMarket

T he commerce Depart-ment reported that the nation’s output

of goods and services grew at an annual rate of 2.5 percent from July to Sep-tember, al-most double the rate of the previous quarter. The Institute for Supply Management reported that economic activity in the manufacturing sector expanded in September for the 26th consecutive month.

Its ISM Manufacturing In-dex rose to 51.6 percent in August, an increase of 1 per-cent. September retail sales increased 1.1 percent. Sep-tember durable goods orders, excluding aircraft, rose by 2 percent indicating that business capital spending increased signifi cantly. The Census Bureau also reported that construction spending, while down overall for the first eight months, rose in August by about 1.4 percent over the July estimate and by about 0.9 percent above last year’s estimate.

This all points to economic

growth that, while not dy-namic, is sustained. Accord-ingly, there will be no double dip recession.

Global investors are in-creasing their acquisitions of high quality commercial real estate. Questions about CMBS ratings and Greece’s economic fortunes reduced their interest in CMBS caus-ing rate spreads to rise and volumes to decline. It ap-pears that this will continue for some time. We now have a new MBS rating agency on the scene, Morningstar and as the European Bankers have reached agreement to

stave off Greece’s economic catastrophe I look for them to start reinvesting in the MBS market.

In the interim, for the fi rst time in years, insurance com-panies and commercial banks are enjoying a real competi-tive advantage over conduit and investment bank lenders. They are only fi nancing high quality commercial properties as they can offer the lowest long term fi xed rates, often in the low 4s for a 10 year bal-loon term with 25 (preferred) and 30 year amortizations. LTV ratios up to 75 percent are available with 70 percent

or less preferred depending upon property type. Some loans can obtain sub-4 percent rates. Smaller loans being funded by local banks may still be priced between 5.5 and 6.0 percent. Commer-cial banks and “the agencies” can go to 80 percent LTV for apartment loans. With excep-tion a 1.25 times debt service coverage appears to be the minimum “norm”. The rela-tively new “debt yield ratio” factor is now often also being used for underwriting.

The debt yield ratio is de-rived by taking the property’s N.o.I. and dividing it by the loan amount (times 100) to re-fl ect the overall cash on cash yield a lender would get if they immediately foreclosed. E.g., a property underwritten with a $1,000,000 N.o.I. and new mortgage of $11,500,000 would have a loan yield factor of 8.696 percent.

Credit fi nancing rates are also very good noting a recent 16.4 year self-liquidating loan that was closed for an “A” rated tenant leased building with a fi xed rate of 4.16 per-cent and based on a 1.05 time debt service coverage ratio.

The lesser quality and ter-tiary market properties are currently suffering as a “fl ight to quality” still prevails. Ulti-mately their fi nancing should fall to the CMBS market as their borrowers will be forced to pay the higher rates pres-ently required by CMBS in-vestors. The benefi t of CMBS fi nancing is that the total debt can exceed 75 percent LTV by adding the mezzanine piece not permitted by insurance companies and banks. Histo-ry has shown that a borrower will pay the higher rate if they can obtain the total fi nancing dollars they are seeking.

As predicted, the low inter-est rates are helping to com-press cap rates. Many offi ce and industrial buildings now can support cap rates of 7.5 to 8.0%. Lower overall cap rates are being applied to other property types depending up location, occupancy, market conditions, borrower capabil-ity and other factors.

Similar to the economy sustained improvement in the commercial mortgage market is in evidence.

Bruce Coin is directorofBruceCoinConsulting,Inc.n

Bruce Coin

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

brucecoin.com(856) 906-8240

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lendeR’s diRectoRy

ew York City’s Chelsea Pier 60 was the site of this year’s ICSC and

NAIoP spon-sored Capital Market Place Conference. The confer-ence was at-t e n d e d b y real estate owners, lend-ers and inves-tors from across the country. The conference focused on the current economy and market outlook for commercial real estate. In addition, the confer-ence concentrated on current

views from an executive suite perspective, the changing debt landscape, structured fi nance and joint ventures, investment funds and current issues in Commercial Mortgage Backed Securities (CMBS) maturing debt and loan sales.

Peter Linneman, Ph.D. moderated the executive suite discussion. Dr. Linneman, in addition to being a principal in Linneman Associates, is a professor of Real Estate, Finance and Business Public Policy at the Wharton School of Business at the University of Pennsylvania. Kenneth Bern-stein from Acadia Realty Trust

along with Alex Klatskin of Forsgate Industrial Partners, Jeffrey olsen from Equity one and Scott Rechler of RXR Realty discussed deal fl ow and assessed providers of capital. Some panel members believe that commercial real estate has found a bottom, while others contend the market is bifur-cated. NY, Washington DC and Miami on the east coast along with San Francisco and Los An-geles on the west coast portray quite a different picture than the rest of the country.

Shawn Rosenthal, principal of The Ackman Ziff Real Es-tate Group in NYC moderated

BySamBerns,NorthMarq

2011CapitalMarketPlaceConference

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

McGinnis remarked that life companies are holding up well and continue to view commer-cial real estate as an attractive investment. Commercial real estate yield average 100 to 200 basis points higher than corporate bonds. Gray was surprised at the quick resur-gence of CMBS in the begin-ning of 2011. Gray pointed out the relative ease of completing CMBS transactions earlier in the year and the diffi culty surrounding CMBS over the last few months. Are we now experiencing CMBS 3.0?

Timothy Zietara, Senior VP and portfolio manager for Torchlight Investors (formerly known as ING Clarion Capi-tal), moderated the structured fi nance discussion at the confer-ence. Zietara also is an adjunct professor at New York Univer-sity. Zietara was joined by John Garth of Pembrook Capital, Christopher Linkas of Fortress Investment Group, George Per-ry of Malkin Investments, LLC and Brad Wildauer from AREA Property Partners. The panelist discussed the role opportunity funds, investment funds and mezzanine funds have in the current commercial real es-tate marketplace. The focus of several panelists centered on deals in the largest MSAs. one panelist stated “I would rather do one deal in NYC than ten deals in Pittsburgh”. other panelists suggested that yields are to be found in other areas such as multi-family properties in Texas. Mezzanine rates are ranging from 12-15% for offi ce properties in strong markets and 9-12% for multi-family. Based on the tone of the pan-elists, I doubt very much if institutional mezzanine money will fi nd its way into Upstate New York.

In the Joint Venture segment, Kenneth Bernstein, CEo of Acadia Realty Trust, moder-ated the panel. Bernstein, formerly with RD Capital and the Battle Fowler New York law fi rm, is a graduate of the University of Vermont and Bos-ton University School of Law. Joining Bernstein were Joshua Kagen, managing principal of West Ridge Realty Advisors, Peter Falco, Coo of Rockwood Capital, and Ben Gifford, Real Estate chief investment offi cer for JP Morgan Investment Management. Each of these institutions are leading play-ers in the joint venture arena. They discussed their appetite

N

Sam Berns

continuedonpage20A

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e g i o n a l C a p i t a l Group (RCG), is a direct real estate

lender, investor, fund man-ager and advisory company specializing in multifamily transactions. As the multi-family industry continues to improve, RCG is providing funding solutions for mul-tifamily investors. A recent example of a transaction that was closed by RCG is a $17 million dollar bridge and mezzanine portfolio loan on 10 properties spread across the mid-west. The client is the owner and manager of a portfolio of multifamily and

RegionalCapitalGroup

CaseStudy:Bridgeandmezzaninefundingforaportfolioof10multifamilyproperties

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

a few of the properties.The existing bank loans

prohibited secondary financ-ing so a portion of the funding was structured as mezzanine. overall the funding amount was greater than the “as is” value, but did not exceed 70% of the projected stabi-lized value of the portfolio. The new loan provides for releases of individual prop-erties in the event of sale or refinance as those properties reach stabilization.

The new structure enabled the borrower to purchase non-performing notes se-cured by multifamily proper-

ties. After a foreclosure on the existing borrower, a rehab of the properties to Class A standards will be completed. The amount of leverage was critical since the borrower preferred to use as little cash as possible and not rely on his partners in an effort to maximize the return.

The next phase of the fund-ing allowed the sponsor to cash out and buyout existing partners, enabling the bor-rower to become the sole own-er of the existing portfolio. Average occupancy was low and a portion of the funding will be utilized to reposition

some of the assets.The major challenges faced

were the instability of the portfolio at the time of fund-ing, the closing timeline was tight, and the exit was con-ceptual. This transaction required a creative solution to a challenging real estate structure.

Regional Capital Group (RCG) is a direct real estate lender and investor, fund manager, and advisory firm established over 15 years ago with extensive experi-ence in structured real estate finance. n

PHILADELPHIA, PA — Jones Lang LaSalle announced the firm’s Capital Markets experts have closed the sale of 1700 Market St., a class A trophy office building located in Center City for $143.5 million. The property traded on behalf of Pearlmark Real Estate Part-ners. The firm, in conjunction with Meridian Capital, also arranged a senior mortgage and mezzanine financing of $123 million through UBS for the buyer, a partnership formed by David Werner.

Leading the Jones Lang La-Salle team on this transaction was international director Tom Beneville, senior vice president Jerry Kranzel and vice presi-dent Mike Carpenter. Senior vice president Dustin Stolly and Meridian Capital’s man-aging director Ronnie Levine arranged the financing. n

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ECAUCUS, NJ — HFF arranged $6 million in financing for 501 and

601 Penhorn Avenue, two industrial buildings totaling 100,000 s/f.

HFF worked on behalf of Bhasin Properties to secure the long-term, fixed-rate loan through Principal Real Estate Investors.

501 and 601 Penhorn Av-enue are situated on seven acres close to Interstate 95/The New Jersey Turnpike and the Lincoln Tunnel in

Secures$�2.2�millionfirstmortgagefinancinginPittsburgh’scentralbusinessdistrict

HFFarranges$6millionfinancingfor�01and601PenhornAvenueinSecaucus,NewJersey

601 Penhorn Avenue

Secaucus.The properties are 100

percent leased to 5,000 s/f tenants that require close proximity to New York City.

The HFF team represent-ing Bhasin Properties was led by senior managing direc-tor Jon Mikula.

Bhasin Properties special-izes in the development and leasing of master-planned, state-of-the-art office and warehouse buildings in the prime Secaucus area.

PITTSBURGH, PA — HFF secured a $32.25 million first mortgage financing for The Grant Building, a 37-story, 461,935 s/f office building in Pittsburgh’s central business district.

Working on behalf of McK-night Realty Partners, HFF placed the 10-year, 5.25 per-cent, fixed-rate loan with Nationwide Real Estate In-vestments. Loan proceeds were used to refinance the acquisition and renovation loan. This is the second fi-nancing HFF has secured on behalf of McKnight through Nationwide; earlier in 2011, a $15.5 million financing was arranged for 615 Alpha Drive in Pittsburgh.

The Grant Building is lo-cated at 310 Grant Street between Third and Fourth Avenues close to the Park-way (Interstates 279/376) and within walking distance of four Light Rail Transit (LRT) stops. originally built in 1928, the property features five levels of underground parking for approximately 250 cars plus a new, state-of-the-art fitness center. The property is connected via an underground walkway to the City-County Building, County office Building and County Courthouse. The Grant Building is 92 percent leased by tenants including Huntington Bank and The Hillman Company.

The HFF team represent-ing McKnight Realty Part-ners was led by executive managing director Gerard Sansosti.

McKnight Realty Partners is a leading real estate in-vestment and development company based in Pitts-burgh, Pennsylvania. n

S

Grant Building

MAREjournal.com Mid Atlantic Real Estate Journal — November 11 - 24, 2011 — 13A

Park at Westminster 270 Units

$24,000,000Warrington, PA

Hatfield Village 997 Units

$41,000,000Hatfield, PA

Salem Village 334 Units

$14,500,000Newark, DE

The Leading Real Estate Finance Advisor in the Mid-Atlantic

Hudson Square South150 Units

$33,000,000Hoboken, NJ

Hunters Glen1,124 Units

$49,000,000Delran, NJ

Toftrees Apartments 541 Units

$31,400,000State College, PA

Bethlehem Portfolio412 Units

$27,850,000Bethlehem, PA

Feasterville Plaza 110,000 Sq. Ft.

$15,000,000Feasterville, PA

Regency Woods Apts. 156 Units

$14,750,000Doylestown, PA

Liberty Commons98,400 Sq. Ft.

$15,800,000East Rutherford, NJ

West Creek Village 306 Units

$16,000,000Elkton, MD

Merrit Station 296 Units

$15,300,000Meridien, CT

14A — November 12 - 25, 2010 — Financial Digest — Mid Atlantic Real Estate Journal MAREjournal.com

LENDER’S DIRECTORYCALIFORNIAMarcus & Millichap Capital Corporation19800 MacArthur Boulevard • Suite 150Irvine, CA 92612P: 949-851-3030 F: [email protected] E. Hughes

DELAWARE

Applied Bank601 Delaware Ave • Wilmington, DE 19801P: 302-326-4200 (Ext. 29512)www.appliedbank.comCarl Kruelle, SVP Chief Lending Offi [email protected] Cole,VP Commercial Real Estate [email protected] Stackeni, Business [email protected]

Commercial Capital Ltd.31362 Edgewood Drive • Lewis, DE 19958P: 888-929-3247 [email protected] Hartnett

MARYLAND

Beech Street Capital7600 Wisconsin Avenue • Suite 800Bethesda, MD 20814P: 240-507-1901 www.beechstcap.comGrace Huebscher, President & CEO

BlueWater Financial PartnersReal Estate Loans and Investments7501 Wisconsin Ave • Suite 125 WBethesda • Maryland 20814Jason Goozh Neil Siman(o) 301.656.6566 | (f) 240.766.0609(d) [email protected]

Meridian Capital Group, LLCMaryland Offi ce7600 Wisconsin Avenue • Suite 800 Bethesda, MD 20814P: 240-507-1919 F: [email protected] Katz

NorthMarq Capital, Inc.33 Offi ces Nationwide2330 West Joppa Road • Suite 200Lutherville, MD 21093P: 410-296-6565

7700 Wisconsin Avenue • Suite 1150 Bethesda, MD 20814P: 301-654-2400www.northmarq.com

NEW JERSEY

Berkadia230 Half Mile Road • 2nd Floor • Red Bank, NJ 07701P: 732-758-0004 F: 732-741-0033Bill Kitley • John Matzel • William Collopy • Marc Reed • Robert Lipson

Capital One Bank710 Route 46 East • Suite 306Fairfi eld, NJ 07004P: 973-439-7600Douglas Kennedy

Carl Berger Associates17 Furler StreetTotowa, NJ 07512973-256-5330973-256-7424 [email protected] A. Berger

Coastal Commercial Group1882 Route 1 North • North Brunswick, NJ 08902P: 732-297-4700 F: [email protected]

Columbia Bank19-01 Route 208 NorthFair Lawn, NJ 07410P: 201-599-7076 F: [email protected] A. Heilmann, Senior Vice PresidentCommercial Real Estate Lending

Commercial Mortgage Capital615 West Mount Pleasant AvenueLivingston, NJ 07039P: 973-716-0006 F: [email protected] M. Scott, PrincipalStanley M. Weeks, Senior Vice President

Eastern Union Funding805 Cross Street • Suite 3 • Lakewood, NJ 08701P: [email protected] Barkai • David Retesh • Eliezer Breiner • Yossi Belbman • Barry Lefkowicz • Sean Levitin • David Metzger • Mendy Pollack • Jeff Seidenfi eld • Aron Stern • Isaac Sternhill • Shaya Ackerman

The Henley Group, Inc.8A Pleasant Street SouthNatick, MA 01760617.512.1135www.thehenleygroup.comTammy Goldfi sher

Holliday Fenoglio Fowler (HFF)200 Campus Drive • Suite 205Florham Park, NJ 07932P: 973-549-2000

Kennedy FundingTwo University Plaza • Suite 402 • Hackensack, NJ 07601P: 800-342-8500 F: [email protected] Funding is a direct lender which provides mort-gages/loans - secured by real estate – for all commercial property types and other fi xed assets nationwide. We consider any property type, including raw land.Kennedy Funding specializes in development loans that need to close quickly, loans from $1 million and up.

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

LENDER’S DIRECTORY

NorthMarq Capital, Inc.33 Offi ces NationwideOne Gatehall Drive • Suite 101Parsippany, NJ 07054P: 973-538-2330www.northmarq.com

NY Urban800 Central Boulevard • Suite 800Carlstadt, NJ 07072P: 212-527-7130 F: [email protected] Lama • John K. Lama • John G. Lama • Frank Harvey • Frank Reilly • Irwin Shapiro

Palisades Financial, LLC2160 North Central Road • Suite 308Fort Lee, NJ 07024P: 201-894-5000 F: 201-894-8833www.palfi .netIra Bergstein • Mark Zurlini • James Calvano • David McLain Jack Chimento

Procida Funding & Advisors456 Sylvan AvenueEnglewood Cliffs, New Jersey 07632www.procida.com

Provident Bank100 Wood Avenue South • Iselin, NJ 08830P: 732-726-5558www.ProvidentNJ.com

Regal Bank570 West Mt. Pleasant Avenue Livingston, NJ 07039P: 973-716-0600F: [email protected] Howland,VP Commercial Lending

Regional Capital Group701 Route 70 East • Building OneMarlton, NJ 08053P: 856-983-4800 F: 856-983-5001www.regionalcapital.com

Lysar Financial Services, Inc.443 Northfi eld Avenue • Suite 306West Orange, NJ 07052P: 973-325-2500 F: [email protected] Lenders

Meecorp Capital Markets2115 Linwood Avenue • Suite 301 • Fort Lee, NJ 07024P: 201-944-9330 F: [email protected]

Meridian Capital Group, LLCNew Jersey Offi ce485 Route 1 South • Building F • First Floor Iselin, NJ 08830P: 732-301-3200 F: [email protected] Schubert, Managing Director

Metro Funding CorporationOne Kalisa Way • Suite 310 • Paramus, NJ 07652P: 201-880-7850 F: 201-262-6910www.metrofundingcorp.comlana@metrofundingcorp.comDirect Hard Money Lenders (Commercial)

Metropolitan Mortgage and Realty, Inc.443 Northfi eld Avenue • Suite 306West Orange, NJ 07052P: 973-325-1800/856-938-7100 F: [email protected] and real estate brokers specializing in commercial and investment property

NDF Inc.P. O. Box 2285 • Ventnor City, NJ 08406P: 609-513-0467 F: 609-939-0222noelfl [email protected] amm.comCommercial loan services – specializing in multifamily lending, strip centers, and all types of SBA fi nancing. Let our team show you there is a difference in commercial lenders.

New Jersey Business Finance Corp.2050 Center Avenue • Suite 375 Fort Lee, NJ 07024P: 201-346-0300Ira Lutsky, President 201-346-0300Babette Gallagher, VP [email protected] Web:www.njbfc.comSmall Business Administration Certifi ed Development Company- Long term, 90% below market fi xed rate fi nancing, for own-er-occupied real estate, and/or machinery and equipment.

Newcastle Financial Company LLC1 International Boulevard • Suite 400Mahwah, NJ 07495P: 201-378-0118 F: [email protected]

Rock Financial Consulting117 Central AvenueHasbrouck Heights, NJ 07604P: 201-288-1199 F: [email protected] L. Jarocki

Spencer Savings Bank611 River Drive River Drive Center 3Elmwood Park, NJ 07407P: 201-703-3807cwoehrle@spencersavings.comwww.spencersavings.comCharles Woehrle, VP/DirectorDonald Jacquin, VP • Lon King, VPKenneth Mosher, VPFrancis McCauley, VP

Susquehanna BankTwo Aquarium Drive • 4th FloorCamden, NJ 08103P: [email protected]

Union Center National Bank2455 Morris AvenueUnion, NJ 07083P: 908-688-9500 F: [email protected] C. Weagley - President & CEO Ronald Shapiro, Senior Vice PresidentBill Boylan, Senior Vice PresidentPaul Hodowanec, Vice President

NEW YORKCapital Source640 5th Avenue • 11th FloorNew York, NY 10019P: 301-841-2700www.capitalsource.comMiddle Market Commercial Lenders • Bridge Loans • Warehouse Lines of CreditDistressed Note Acquisition Finance

Centerline Capital Group625 Madison Avenue New York, NY 10022P: 212-521-6390 F: 212-421-2538

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

16A — November 12 - 25, 2010 — Financial Digest — Mid Atlantic Real Estate Journal MAREjournal.com

LENDER’S DIRECTORY

Singer Financial1708 Locus Street Philadelphia, PA 19103P: 215-893-9722paul@singerfi nancial.comPaul Singer

U.S. Realty Capital, LLC161 Washington Street • Suite 1525Conshohocken, PA 19428P: 215-893-9924www.usrealtycapital.comBob Jacoby • Bruce Robertson • Tom Greenwood Rich Colucci • Charley Harmar • Gerry Nanos

Wells Fargo100-120 North 18th Street • Two Logan SquareSuite 1910 • Philadelphia, PA 19103P: 215-640-3927wellsfargo.com/realestate

RHODE ISLANDOcean Capital2 Altieri WayWarwick, RI 02886P: 877-337-3757 F: 401-732-5342www.oceancapital.com

WASHINGTON, DC

EASTERN UNION COMMERCIALREAL ESTATE FINANCE1050 17th ST NW Suite 910 Washington, DC 20036P: 202-629-9140 F: 202-429-1990

Federal Capital Partners1000 Potomac St • NW, Suite 120Washington, DC 20007P: [email protected] Rice, Managing Partner

Partner

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

BlueStone Real Estate Capital1717 Arch Street • Suite 4120Philadelphia, PA 19103P: 215-717-2227 F: [email protected] Real Estate Capital is a Philadelphia-based commercial real estate investment banking and advisory fi rm that secures innovative debt, mezzanine, equity and sponsor equity fi nancing for the nation’s top-tier investors, operators, owners and developers. visit: www.bluestonecap.com

C U Lending Partners, Inc.1800 JFK Boulevard • Suite 300Philadelphia, PA 19103 P: 800-308-8696RT@culendingpartnersinc.comwww.culendingpartnersinc.comRichard Thomas • Larry Choy

Foxhill Mortgage Company2814 Leechburg RoadLower Burrell, PA 15068P: 724-335-7334 F: [email protected]

Fulton Bank, N.A.Premier Division379 North Main StreetDoylestown, PA 18901P: 267-893-6705 F: [email protected]

Invicta Finance230 Prospect AvenueScranton, PA 18505P: 800-748-2495 F: 570-207-8635www.invictafi nance.comTony Piestrak • Jack McIntyr • Mike AddessaDominic Goffredo

Lafayette Ambassador Bank2005 City Line Rd • 2nd FlBethlehem, PA 18017(610) 332-7167www.lafambank.com

Llenrock Group1315 Walnut Street • Suite 1517Philadelphia, PA 19107P: 267-351-6699 F: [email protected]

Members 1st Federal Credit Union5000 Louise DriveMechanicsburg, PA 17055P: 800-283-2328 Ext. [email protected]

NorthMarq Capital, Inc.33 Offi ces Nationwide1600 Market Street Suite 1300Philadelphia, PA 19103P: 215-496-3000www.northmarq.com

PNC REAL ESTATE1600 Market Street • 30th FloorPhiladelphia, PA 19103P: 215-585-6129 F: [email protected] D. Coler

Royal Bank America732 Montgomery AvenueNarbeth, PA 19072P: 610 -668-4700 F: 610-668-3670info@royalbankamerica.comwww.royalbankamerica.comJames E. Kirkpatrick

Fairmont Capital LLC1333 60th Street • Brooklyn, NY 11219P: 212-710-4018 F: 212-937-2034www.fairmontcap.comBarry [email protected] [email protected]

Grubb & Ellis1301 Avenue of the Americas,New York, NY10019P: 212-326-4884Email: [email protected] L. Jarocki, Jr CMB • Steve Robert

Meridian Capital Group, LLCNew York Offi ce – Corporate HQ1 Battery Park Plaza • 26th FloorNew York, NY 10004P: 212-972-3600 F: 212-612-0100Founded in 1991, Meridian Capital Group, LLC is one of the nation’s largest commercial real estate fi nance and advisory fi rms. Meridian has arranged more than $120 billion of commercial real estate debt, including more than 27,500 transactions in 42 [email protected] M. Stern

NorthEast Community Bank325 Hamilton Avenue White Plain, NY 10601P: 914-684-2500 F: 914-684-0444www.necommunitybank.comTerence McArdle – White Plains, NYDan Berke – White Plains, NYGeorge Gaudet – Wellesley, MA

NorthMarq Capital, Inc.33 Offi ces Nationwide1800 One HSBC PlazaRochester, NY 14604-2421P: 585-262-2100www.northmarq.com

Real Estate Lenders Association, Inc.380 Lexington Avenue • Suite 1920New York, NY 10168P: [email protected]

PENNSYLVANIA

Apex Mortgage Corp.1300 Virginia Drive • Suite 400Fort Washington, PA 19034P: 800-262-2739 X-223 F: [email protected]

Benefi cial Bank530 Walnut StreetPhiladelphia, PA 19106P: 215-864-6742 F: 215-864-3548www.thebenefi cial.comJames Amon


LogistiCenter Sauk Village, IL DP Partners Darwin Realty Winpak Lee & Associates 267,000 SF Manufacture L 3ANorth Broad St Elizabeth, NJ The Kislak Co. The Kislak Co. $2.45m 46 unit Multifamily S FC-BWestfi eld Pines Elizabeth, NJ The Kislak Co. The Kislak Co. $2.955m 41 unit Multifamily S FC-B Elizabeth, NJ The Kislak Co. $2.825m 40 unit Multifamily S FC-B Elizabeth, NJ The Kislak Co. $950k 16 unit Multifamily S FC-B502 York St Elizabeth, NJ Bussle Federal Autocat Bussle 75,000 SF Whse L FC-B Edison, NJ Bussle 65,000 SF L FC-B Cateret, NJ Bussle 20,000 SF L FC-B Newark, NJ Gebroe-Hammer $6.435m 118 unit Multifamily 2BScotland Rd Orange, NJ Gebroe-Hammer $3.8m 74 unit Multifamily 2B10 Berton Pl Nutley, NJ Gebroe-Hammer Gebroe-Hammer $1.275m 7 unit Multifamily 2B446-448 Nye Ave Irvington, NJ Gebroe-Hammer Gebroe-Hammer $115k 6 unit Multifamily 2B Linden, NJ Marcus & Millichap NJ Marcus & Millichap NJ $4.8m 36,000 SF Ind S 3B213 Summit Rd. Mountainside, NJ Delaney RE Holdings NAI Hanson Drake & Presti 2800 SF Offi ce L 4B275 Rte 4 Paramus, NJ Mall at IV Grp Props Metro Comm’l Chuck E. Cheese 20,000 SF Retail L 4BRegency Club Apts. Jackson, NJ Morgan Mgmt HFF Gaia RE Investments $44m 372 unit Multifamily S 5B Phoenix Realty Harel Ins 1601 Schlumberger Dr Moorsetown, NJ First Industrial Trust Binswanger CBB 1601 Schlumberger Colliers In’l $2m 79,000 SF Flex S 5BBloom Ct Mount Laurel, NJ Bloom Org Bloom Org CoreTitle Colliers In’l 3580 SF Offi ce L 5BPPG Pl Pittsburgh, PA Market Assocs CBRE Highwoods Props $179.396m S FC-C140 S Main St Manchester, PA Gradison Mgmt Springwood Comm’l $400k 31,180 SF Ind S 2C491 Marylan Ave York Cty, PA Springwood Comm’l WBF Grand $300k 34,682 SF Ind S 2CNorthgate SC York Cty, PA Springwood Comm’l Spirit Halloween 8640 SF Retail L 2CClearview SC Hanover, PA Springwood Comm’l Yoe Parts 7800 SF Retail L 2CLincoln Way East Guilford Twp, PA Springwood Comm’l Lumber Liquidators 4224 SF Retail L 2C1249 Toronita St N York, PA Springwood Comm’l Window World 4000 SF Whse L 2C151 Allendale Rd Hampden Twp, PA Simpson Ferry RE Bill Gladstone Grp Broccco Supply 20,000 SF Whse L 2C920 Linda Ln Lwr Allen Twp, PA Linda Lane Bill Gladstone Grp Charles Clement Landmark 3306 SF Offi ce L 2C251 N Progress Ave Susquehanna Twp, PA Arthur Giannakopoulos NAI CIR Advantage Denture 1320 SF Medical L 2C527 Gitts Run Rd Hanover, PA 527 Gitts Run Rd Landmark Compass Grp USA Landmark 13,800 SF Flex L 3C1890 Old Crooked Hill Rd Harrisburg, PA Landmark Convenient Ventures RSR Realtors 7200 SF Ind L 3C97 Masonic Dr Elizabethtown, PA Susquehanna-Wagman LMS Toshiba Business Solutions Landmark 5204 SF Off/Flex L 3C1310 Old Crooked Hill Rd Harrisburg, PA Robert Kint Landmark Pagoda Electrical 3750 SF Ind/Flex L 3C185 2nd St Highspire, PA Natale Realty Landmark Antonio’s Pizza Landmark 3302 SF Retail L 3C1011 Mumma Rd Wormleysburg, PA 1011 Assocs CAMPBELL SHS Grp Landmark 3185 SF Offi ce L 3C6330 Flank Dr. Harrisburg, PA K&T Enterprises NAI CIR Commonwealth L 3C Business Technology 172-174 S Pine St York Cty, PA ROCK Comm’l Ping Lin 8044 SF Comm’l S 4C Multifamily Shippensburgh Shippensburgh, PA ROCK Comm’l Sam’s Diner 5000 SF Retail L 4CMarketplace 100 Railroad Rd Westminster, MD ROCK Comm’l Heads or Tails ROCK Comm’l 3024 SF Retail L 4C Outdoors 909 Grantley Rd York, PA ROCK Comm’l Azteca Mexican Grill ROCK Comm’l 1992 SF Retail L 4C11-13 W Philadelphia St York, PA ROCK Comm’l N. Palumbo ROCK Comm’l 932 SF Retail L 4CThe Business CAMPBELL Cordier Auctions CAMPBELL 12560 SF Offi ce L 4CJournal Ctr combined The Business CAMPBELL Berkshire Sys Grp above Offi ce L 4CJournal Ctr 2501 Kensington Ave Philadelphia, PA Archdiocese of Phila Colliers In’l MBA Colliers In’l $3.5m Academic S 5C1845 Stefko Blvd Bethlehem, PA The Frederick Grp AutoZone The Frederick Grp $1.3m 9000 SF Retail S 5C900 Conroy Pl Easton, PA 900 Conroy Hawley Realty Hawley Realty $5.087m S 11C Forks Mgmt Corp 900 Conroy Pl Easton, PA LIG Business Holdings Hawley Realty Parcel Port combined L 11C628-630 State Rd Emmaus, PA Lehigh Print & Data $400k 16,100 SF L 11C Mens Cuts Shepherd Hill Plaza Wescosville, PA MBS Credit combined combined L 11C & Collections Svcs 187-191 Main St Emmaus, PA First Niagra Bank 187-191 Mainstreet combined combined S 11C Partnership 550 S Henderson Rd King of Prussia, PA Raymor & Flanigan JLL Lyon Conklin Swope Lees 83,000 SF Ind/Whse L 11C422 Business Center Oaks, PA 422 Business Center 422 Business Center Reber Freil Swope Lees 41,000 SF L 11C Swope Lees Cross Valley West Forty Fort, PA Mericle Mericle Hill Corp 80,000 SF Off/Ind L 12C4049 Landisville Rd Doylestown, PA F. Shuman NAI Mertz TF Ptrs $2.1m 36,000 SF Ind S 12CTen Penn Ctr Philadelphia, PA Ten Penn Ctr Assocs Grubb & Ellis PICPA Grubb & Ellis $3.7m 16,000 SF Offi ce L 12C2.0 University Pl Philadelphia, PA University Place Assocs Grubb & Ellis GSA Studley $26m 53,435 SF Offi ce L 12C7036 SnowdriftRd Allentown, PA Denholtz NAI Summit UL Verifi cation 38,510 SF Ind L 12C1840 E Race St Allentown, PA HVAC Dist NAI Summit Beck Pkging 7000 SF Whse L 12C941 Marcon Blvd Allentown, PA HAF NAI Summit Emstar 1200 SF Whse L 12C2005 City Line Rd Allentown, PA City Line Plaza NAI Summit Spotts, Stevens NAI Summit 5147 SF Offi ce L 12C & McCoy 74 W Broad St Allentown, PA Saucon Mutual NAI Summit 3027 SF Offi ce L 12C95 Highland Ave Allentown, PA Bayada Nurses NAI Summit 2200 SF Offi ce L 12C3465 Naareth Rd Easton, PA Crossroads of Nazareth NAI Summit Health Network Labs 1121 SF Offi ce L 12C5050 Tilghman St Allentown, PA Medstar NAI Summit 2239 SF Offi ce L 12C4301 N Delaware Ave Philadelphia, PA ARCA Sidney E Gable $6m 80,000 SF Ind L 12C1930 S Broad St Philadelphia, PA Mercy Health Sys Binswanger Howell Acquisition 3.47 acres Medical S 17CNorth Ave. Westfi eld, NJ The Kislak Co. The Kislak Co. $4.3m 11,400 s/f Mixed-use S 6AEagle Meadows Dover, DE Hunt Cos. IPA/Marcus & Millichap Morgan Eagle Meadows Nolletti ,Early & Witten 23.18m 352,202 s/f Multifamily S 11A601 N Fairfax St Old Twn Alexandria, VA Cassidy Turley 601 NF Assocs $21m 129,564 SF Offi ce S 11A3200 Green Forest Dr Philadelphia, PA BPG HDT 172,759 SF Whse L 11A11510 Georgia Ave. Wheaton, MD Lakewood at Georgia Ave Scheer Ptrs Aguilar Assoc 453 SF Offi ce L 13A11510 Georgia Ave. Wheaton, MD Lakewood at Georgia Ave Scheer Ptrs Pray & Adams PC 1217 SF Offi ce L 13A260 W Sweadsford Rd Devon, PA Mealy’s Furniture Metro Comm’l 60,000 SF Retail L 3BCumberland Crossing Millville, NJ Fameco Hobby Lobby 58,822 SF Retail L 4BCumberland Crossing Millville, NJ Fameco Dollar Tree 12,000 SF Retail L 4BElkridge Corners Elkridge, MD Regency Ctrs Green Valley Mkts 39,000 SF Retail L 4BWood’s Tavern Hillsborough, NJ Larken Assoc Raider Realty Pizza Hut 1525 SF Retail L 16BWood’s Tavern Hillsborough, NJ Larken Assoc Raider Realty Tchorz. Granite & Marble 511 SF Retail L 16BWood’s Tavern Hillsborough, NJ Larken Assoc Raider Realty Earth Fruits 1700 SF Retail L 16BWood’s Tavern Hillsborough, NJ Larken Assoc Raider Realty NE Wealth Planners 509 SF Retail L 16BWood’s Tavern Hillsborough, NJ Larken Assoc Raider Realty IT Media 408 SF Retail L 16BRego Center Queens, NY Pier 1 Imports Welco 8500 SF Retail L 16BBay Plaza Bronx, NY Welco Welco 9599 SF Retail L 16BSummerhill Sq E Brunswick, NJ Welco Welco 9000 SF Retail L 16BRiverplace Rahway, NJ Gebroe-Hammer $26.25m 136 unit Multifamily S FC-CMeridian Hill Washington DC Ontario Ptrs Marcus & Millichap UIP $4.2m 52 unit Multifamily S 3C

SELLER/ REP. OF BUYER/ REP. OF PROPERTY OWNER/ SELLER/ TENANT/ TENANT/ NAME ADDRESS LESSOR LESSOR LESSEE BUYER PRICE SIZE DESC. S/L PG

MAREJ MONTHLY SALES AND LEASE REPORTAs Reported In The Mid-Atlantic REAL ESTATE JOURNAL ~ OCTOBER 14 - NOVEMBER 10, 2011

SELLER/ REP. OF BUYER/ REP. OF PROPERTY OWNER/ SELLER/ TENANT/ TENANT/ NAME ADDRESS LESSOR LESSOR LESSEE BUYER PRICE SIZE DESC. S/L PG


REAL ESTATE FINANCING

$185,000,000

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

TRINITY CENTRE111 AND 115 BROADWAY

NEW YORK, NYTwin 22-story landmark office/retail buildings

containing 900,000 square feetThe undersigned arranged the above financing.


NOVEMBER 10 – CFA PHILADELPHIAEvent: CFA Candidate Open HouseTime: 6:00 PM – 8:00 PMLocation: Marriott CourtyardAddress/City: 21 N. Juniper St., Philadelphia, PAP: 215-496-3200Cost: Free – Reservations Requiredwww.cfaphil.org

NOVEMBER 10 – CREW PHILADELPHIAEvent: 13th Annual CharitableHoliday LuncheonTime: 11:00 AM – 1:30 PMLocation: Hyatt at the BellevueAddress/City: Broad & Walnuts StreetsCost: $125 Members $150 NonmembersP: 215-243-9074 E: [email protected]

NOVEMBER 10 – CREW PITTSBURGHEvent: Wine Tasting EventTime: 6:00 PM – 8:30 PMLocation: The Carlton RestaurantAddress/City: 500 Grant St., Pittsburgh, PACost: $50 Members $65 NonmembersP: 412-521-3000 E: [email protected]

NOVEMBER 10 – ULI NJEvent: Annual Real Estate TrendsTime: 8:30 AM – 11:00 AMLocation: Rutgers University/Bloustein SchoolAddress/City: 33 Livingston Ave.,New Brunswick, NJCost: $50 Members $75 NonmembersP: 800-321-5011www.nnj.uli.org

NOVEMBER 11 – SMPS CENTRAL PAEvent: CPSM Mentoring &More Program-Domain 2: Marketing PlanTime: 11:30 AM – 1:00 PMLocation: Gannett Fleming West BuildingAddress/City: Room 260, 209 Senate Ave.,Camp Hill, PACost: $15 MembersP: 717-763-7212 Ext. 2272 E: [email protected]

NOVEMBER 15 – CIANJEvent: Women of Infl uence in New JerseyTime: 5:30 PM – 7:00 PMLocation: Bergen Community College-TEC BuildingAddress/City: 400 Paramus Rd., Paramus, NJCost: $15 Members $30 NonmembersP: 201-368-2100 E: [email protected]

NOVEMBER 15 – CORENETEvent: Facilitating Wins: State &Regional IncentivesTime: 11:30 AM – 1:30 PMLocation: Duquesne ClubAddress/City: 325 Sixth Ave., Pittsburgh, PAwww.corenetglobal.org

NOVEMBER 15 – IYP/IREMEvent: Networking EventTime: 5:30 PM – 8:30 PMLocation: Equus RestaurantAddress/City: 1 Mill St., Bernardsville, NJCost: $30 Members/NonmembersP: 856-303-0190 E: [email protected]

NOVEMBER 15 – SMPS PITTSBURGHEvent: Luncheon Program – Higher Education PanelTime: 11:30 AM – 1:30 PMLocation: The Rivers ClubAddress/City: One Oxford Center, 101 Grant St., Suite 411, Pittsburgh, PACost: $40 Members $65 Nonmemberswww.smpspittsburgh.org

NOVEMBER 16 – ABC EPAEvent: Merit Construction Awardsof Excellence BanquetTime: 5:00 PMLocation: Radisson Hotel Valley Forge,Waterford BallroomAddress/City: 1160 First Ave., King of Prussia, PACost: $110 per PersonP: 610-279-6666www.abceastpa.org

NOVEMBER 16 – CREW LEHIGH VALLEYEvent: 7th Annual “Members Only”Luncheon MeetingTime: 11:30 AMLocation: Lehigh Country ClubAddress/City: 2319 South Cedar Crest Bldg., Allentown, PACost: $37 per Memberwww.crewlehighvalley.org

NOVEMBER 16 – DVGBCEvent: Membership CelebrationTime: 5:30 PM – 8:30 PMLocation: Artsquest Center-SteelStacks CampusAddress/City: 101 Founders Way, Bethlehem, PACost: $35 Members $50 Nonmembers $20 StudentsP: 215-399-5790www.dvgbc.org

NOVEMBER 16 – NJAAEvent: Fair Housing BasicsTime: 8:30 AM – 12:00 PMLocation: 104 Interchange Plaza, Suite 201Address/City: Monroe Township, NJCost: Members Free/$75 NonmembersE: [email protected]

NOVEMBER 17 – BOMA PHILADELPHIAEvent: Networking & Tour of Bio WallTime: 5:30 PM – 8:00 PMLocation: Drexel University-Papadakis Integrated Science Bldg.Address/City: Corner 33rd & Chestnut Sts., Phila-delphia, PAP: 215-567-1775 E: [email protected]

COMMERCIAL REAL ESTATE ORGANIZATIONS’

EVENTS CALENDARNOVEMBER 17 – CFA PHILADELPHIAEvent: Annual Awards DinnerTime: 5:00 PM – 8:00 PMLocation: Loews HotelAddress/City: 1200 Market St., Philadelphia, PACost: $50 Members & GuestsP: 609-519-0056 E: [email protected]

NOVEMBER 17 – CIRC/TRISTATE/CCIM/SIOREvent: Annual Joint Dinner MeetingTime: 5:30 PM – 8:30 PMLocation: Harry’s Savoy GrillAddress/City: 2020 Naamans Rd., Wilmington, DECost: $55 Members $65 NonmembersP: 302-633-1705 E: [email protected]

NOVEMBER 17 – CREW PITTSBURGHEvent: Members Only Lunch ‘N LearnTime: 12:00 PM – 1:00 PMLocation: Offi ces of Babst CallandAddress/City: Pittsburgh, PACost: Free-Reservations RequiredE: [email protected]

NOVEMBER 18 – IREM SNJ & DELVALEvent: Women in Leadership RolesTime: 1:00 PM – 4:00 PMLocation: Pentecostal SquareAddress/City: 325 Pusey St., Chester, PACost: $25 Members $35 NonmembersP: 856-829-8939 E: [email protected]

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MID ATLANTIC REAL ESTATE JOURNAL

burdensome, time-consuming, risky and expensive. Consider-ing that solar installations are not a core part of commercial property owners’ core busi-nesses and that procurement of solar modules is only one part of a long project development cycle, such complicated deci-sions can be a serious obstacle to the widespread implementa-tion of solar. Thus, while the fi -nancial and marketing benefi ts of solar systems are attractive, the time and fi nancial costs as-sociated with the decision-mak-ing process can hinder solar development in the commercial property sector.

Commercial property owners and contractors, many of whom are relatively new to the solar space, have recognized a need to outsource procurement of so-lar components to ensure that they purchase and install the most appropriate equipment for their projects. It is exactly this void that our company, pvXchange, seeks to fi ll.

Through our procurement

service and in conjunction with a contractor partner, we can help mitigate this burden and risk while helping to stream-line solar projects. This allows property owners to reap the benefi ts of solar without having to spend precious company time on the more diffi cult aspects of these projects. Of the several dozen steps in the solar project development process, we can take care of the most impor-tant, difficult and expensive one: choosing the right solar components (panel costs ac-count for between 50 and 60 percent of the total cost of a solar project).

Through our global network, which spans three continents and 7,500 clients, we can help navigate the solar panel mar-ket. Since 2005, we have traded over 209 different brands of solar modules and ~$1 billion worth of merchandise. Com-mercial property owners will need help from companies such as pvXchange who can identify the needs for each project and save clients time and money

continued from page 2A

guarantee program and other key incentives for industrial properties.

Pennsylvania IncentivesIf your property is located in

Pennsylvania, approximately $67.4 million in energy-effi-ciency incentives are approved through May 31, 2013 (See Pennsylvania Act 129). These incentives are part of the Smart Start utility programs that pro-vide for utility company rebates if energy-efficiency upgrades are made to certain types of real property. If a property owner installs energy-effi cient equipment (e.g., prescriptive measures such as HVAC, light-ing, motors, or refrigeration), an incentive may be obtained by achieving predetermined savings and incentive levels. If these specifi c prescriptive mea-sures are not included in your project, you can also request custom incentives on a case-by-case basis. Such case-by-case determinations are evaluated by analyzing the units of energy intended to be saved by the particular installation.

Eligible custom measures include process equipment im-provements, new air compres-sors/controls, refrigeration con-trols, additional cooling tower capacity, “free cooling,” heat recovery, and cool roofs/shad-

ing. While renewable energy sources, on-site generation, repairs/replacement of unused equipment, design/consulting services, and internal labor are not covered by Pennsylvania incentives, a large part of any of these projects may fi t within the prescriptive or custom mea-sures. An additional source of funds is also potentially avail-able for Philadelphia-based projects under the auspices of the Philadelphia Industrial Development Corporation—Greenworks Loan Fund (for Philadelphia projects, see www.phila.gov/green/greenworks for additional resources).

New Jersey IncentivesNew Jersey’s Direct Install

Program can provide incentives to industrial and commercial property owners with a peak electricity demand of 200 kilo-watts (kW) or less over the pre-ceding 12 months. The program can provide incentives of up to 60% of the cost of energy-ef-fi cient retrofi ts, including the installation of energy-effi cient HVAC equipment, lighting, re-frigeration equipment, motors, variable frequency drives, and natural gas equipment.

In addition, the New Jersey Clean Energy Program (NJ-CEP) offers a “Pay for Perfor-mance” incentive for both new and existing buildings. For

existing buildings, a variety of incentives are available. The program is unique in that it does not match rebate levels to specifi c types of equipment. Rather, the Pay for Perfor-mance Program determines the performance incentive by evaluating projected energy savings.

While the cost of “green” building retrofits can often seem like a daunting task from a funding perspective, federal and state incentives can often provide the additional catalyst necessary for property owners to make valuable, meaningful, and environmentally respon-sible changes to their proper-ties. Thus, when considering a building retrofi t, it is incum-bent upon the owner and the building’s occupants (who tend to pay for energy) to actively seek out and apply for appli-cable, available incentives in order to potentially drive down relevant payback periods. Fur-ther details and discussion of federal and state incentives can be found at DSIREusa.org.

Jeannine Bishop is part-ner, Real Estate Practice, Morgan Lewis.

Brad Molotsky, LEED GA is executive vice president, general counsel and secre-tary, Brandywine Realty Trust. ■

continued from page 3AGreen building retrofi ts: Federal & State incentives . . .

for new deals, the types of deals which interest them and vari-ous joint venture structures. Gifford, of JP Morgan, stated that even though they invest in all property types, they remain 60% interested in retail. Falco, of Rockwood Capital, tries to invest in value add opportuni-ties. Rockwood focuses on deals $100 million and up with a 15% Internal Rate of Return (IRR). Kagen specializes in Joint Ven-tures involving pension funds. He specifi cally seeks out retail centers and prefers repeat busi-ness. Again, the focus will be for major metropolitan areas.

Jeff Barclay, managing direc-tor at Goldman Sachs, led the Investment Fund segment of the conference. Barclay is an adjunct professor at Columbia Business School and earned both his BS and MBA from Columbia University. David Gilbert of ING Clarion Advi-sors stated they continue to purchase all property types but seems to fi nd their great-est success with their open end industrial trust fund, as well as with their apartment fund. Brad Hutensky, principal with Hutensky Capital Partners in Hartford, Connecticut, special-izes in value add retail oppor-tunities for his investors. Kevin Smith, manager for Prudential Investment Management in Parsippany, NJ, has positioned themselves with over 50% of their assets outside of the US. Bidders are being too aggres-sive in the US due to the lack of alternative investments. Prudential has been exploring more investment opportuni-ties in South America due to cap rate compression here at

home.Robert Verrone, principal

of Iron Hound Management Company in Short Hills, New Jersey was joined by Toby Cobb, Co-Chief executive officer of LNR Property in Miami, Ray Potter, Principal of Hodes Weill & Associates in New York and William David Tobin, principal of Mission Capital Advisors in New York. This panel discussed the current status of CMBS loan servicing, maturing CMBS debt and loan sales. Verrone stated that since the 2nd quar-ter, he has noticed a signifi cant decrease in the number of new leases seeking special servicer approval. He contemplated that this may foreshadow a down-turn in US economic activity. Potter discussed the realities of various interests over the life span of a CMBS loan. To-bin discussed that for the most part, carve-out changes made on CMBS 1.0 loans seem to be working as fewer borrowing entities are seeking protection through bankruptcy.

The well attended conference may be summarized by stat-ing that there is strength and plenty of capital available in certain markets. For the most part, these represent the top 6-7 of the nation’s MSAs. Smaller markets, such as Upstate New York, probably will not benefi t from major investments by in-stitutional players. Smaller market will continue to rely on local and regional banks, life insurance companies and the agencies for multi-family product.

Sam Berns is managing director, Upstate New York Offi ce of NorthMarq. ■

By Elliott Gansner, pvXchange North America

Solar power, an increasingly smart investment . . .

while procuring the solar pan-els that best suit their needs.

The solar industry is growing rapidly, creating a multitude of new brands and technologies. As the benefi ts of solar energy go up and costs – particularly upfront costs – go down, there will be more demand from com-mercial property owners and developers to add value to their properties by adding rooftop solar systems.

pvXchange is committed to making the solar component market more transparent, sim-plifying the solar installation process and saving commercial property owners and contrac-tors time and money. At the end of the day, a business is com-mitted to providing the highest quality service to its customers, and by helping these owners, we are providing them with an opportunity to focus their attention on their own clients and provide them with better quality and service.

Elliott Gansner is gen-eral manager of pvXchange North America. ■

By Sam Berns, NorthMarq . . .continued from page 10A

LIVINGSTON, NJ — It’s the talk of the banking industry – dramatic increases on all manner of consumer fees, from checking accounts to debit card and ATM usage. And it seems quite a few fi nancial institutions are getting in on this “action.”

But some banks have rejected the model of hiking fees to in-crease profi ts – and prominent among these is Livingston-based Regal Bank.

“The fee increases we’re see-ing from many major banks are certainly one way to address current conditions – but at Regal, we’re taking a different approach,” said David Orbach, chairman of Regal Bank. “Quite simply, we’ll hold the line on fees for our current consumer products. From our perspec-tive, keeping fees low is the

Regal Bank says a defi nitive “NO” to raising consumer fees

most effective way of retaining existing customers, while also attracting new ones.”

Such a strategy, Orbach notes, is also the best way for a community bank like Regal to respond to existing economic pressures.

In addition to debit cards, ATM access, and checking ac-counts, other services becoming more expensive at many institu-tions include overdraft charges, credit card payment insurance, card activation, coin-counting, and even direct communication with a teller.

“These days, almost every consumer is looking for ways to spend less,” adds Orbach. “We’re confi dent they’ll view a community bank that keeps its fees low as the ideal fi nancial partner. ■


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Back Cover A — November 11 - 24, 2011 — Mid Atlantic Real Estate Journal MAREjournal.com

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Section B of the Mid ATLANTIC Real Estate Journal

SHOPPING CENTERSNEW JERSEY

MID ATLANTIC REAL ESTATE JOURNAL

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

ALSO INSIDE:

HI-LIGHTS

MAREjournal.com

Section B, 20 pages

NOVEMBER 11 - 24, 2011

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

EUGENE DIAZ, PRISM CAPITAL PARTNERS, LLC ................4B

CENTRAL NEW JERSEY SPOTLIGHT ................................ 5-13B

CNJ Project Of The Month:Capital Health Regional Medical Center ..............7-9B

PEOPLE ON THE MOVE ......................................................14B

ASK AN EXPERT DIRECTORY ..............................................15B

ICREW NJ ORGANIZATION ..............................................16B

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

DGEWATER, NJ — Associate directors Thomas McConnell,

CCIM and Kevin Mc-Crann suc-c e s s f u l l y closed four transactions t h i s p a s t month to-taling $5.75 million. The fi rst transaction, an 11-unit

Including 11-unit apartment building located in Edgewater

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

E apartment building located in Edgewater, was origi-nally purchased as a condo

conversion. H o w e v e r , as market condit ions changed, the owner decid-ed to reposi-tion the as-set back to rental apart-

ments. The building sold for

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

sale of a garden apartment complex in Clifton. The build-ing consists of 14 units and sold for $1.6 million or a 6% capitalization rate. McCon-nell adds: “This complex was an example of true pride of ownership, which has been in the family’s real estate port-folio for over 40 years. The extremely well-kept garden complex immediately com-manded several competitive offers. We ended up select-ing a buyer with strongest terms and the ability to close quickly. This transaction will be noted as one of the highest price per unit closings in the history of Clifton”.

McConnell and McCrann also executed an out of mar-ket 1031 Exchange for a client looking to exit a man-agement intensive asset and defer their capital gains into a triple net lease property. This marks the 20th 1031

efficiency HVAC system in 2008. Subsequent renovations included upgraded common areas, restrooms, hallways and the stunning, three-story atrium lobby. Among the onsite amenities is a full-service, 3,000 s/f cafeteria with seat-ing for 50.

Kurt Kulafsky of Aztec Corp. coordinated design work for the renovation. Grubb & Ellis is the property manager. ■

hering to the high standard set at Greenbrook requires a great team. “We thank Erika Mar-asco, Chris Hayes and rest of the management staff at Grubb & Ellis for doing their part to earn this award.”

Accordia Realty acquired Greenbrook Executive Center in 2006. Joseph Romano and Bogart soon launched a host of improvements. The building received an entirely new, high-

Western Essex County’s building recognized

Accordia Realty Earns a TOBY award from BOMA

Thomas McConnell Kevin McCrann

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

Greenbrook Executive Center

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

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(732) 287-3777 / Fax (732) 287-1090 / [email protected] / www.bussel.comThe information herein has been obtained from sources deemed to be reliable, but no guarantee of its accuracy is made by the Company. In addition, no representation is made respecting measurements,

dimensions, zoning, condition of title or any matters of a legal or environmental nature. Such matters should be referred to legal counsel for determination. Subject to errors, omissions or withdrawal without notice.

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2B — November 11 - 24, 2011 — New Jersey — Mid Atlantic Real Estate Journal MAREjournal.com

NEW JERSEY

ATERSON, NJ — Lib-erty Elevator Corpora-tion have been awarded

the full vertical transporta-tion contract for the Statue of Liberty interior life and safety upgrades. The indepen-dently-owned family business received the distinct honor for the second time in 25 years. The Statue is to undergo a com-plete interior upgrade, which commenced on October 29th, the day after Lady Liberty’s 125th anniversary. During this time, the interior of the Statue will be closed; however visitors are encouraged and are still permitted to visit the grounds.

Brothers Douglas and Dar-ren Muttart, president and vice president of Liberty Eleva-tor Corp., have teamed up with Joseph A. Natoli Construction Corp., of Pine Brook to install 3 new elevators in the Statue. The Muttarts will be demolish-ing the existing double-decker hydraulic elevator that their

a section of the

Mid Atlantic Real Estate Journal

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

fax 781-871-5299MAREjournal.com

PublisherMichael Campisi

[email protected]

Section EditorKaren Vachon

[email protected]

New JerseyReal Estate Journal

P

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late father, Douglas Muttart installed during the 1986 cen-tennial celebration.

Douglas and Darren are enthusiastic to continue their father’s legacy, as the project has duel signifi cance for both Liberty Elevator Corporation and the Muttart family.

“Our family and company have been proud to be as-sociated with arguably the world’s most recognized symbol of American freedom,” said Douglas. “Liberty Elevator Corporation is now honored to continue this association and to be a part of a project that will make Lady Liberty safer and

Interior life and safety upgrades

Liberty Elevator Corp. wins Statue of Liberty contract

more accessible to the millions of people who visit the Statue each year.”

The three elevators include a handicap-accessible elevator, an emergency elevator and an environmentally friendly ma-chine-room-less elevator (MRL) that will rise 280 feet. Liberty hopes to aid in “uplifting” the economy by complying with the Buy American bid provision. All of the equipment that Liberty will install is American-made and non-proprietary.

Upgrades to the stairways, bathrooms and electrical and fi re suppression systems will also be completed during the period that the interior of the statue will be closed to the public. ■

Relationship Driven.Execution Focused.Only Meridian Capital Group’s powerful financing relationships can consistently achieve the unparalleled results our clients require.

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

Hudson Square South150 Unit Multifamily Property Hoboken, NJ

$33,000,000Permanent Financing

This transaction was negotiated by:Israel Schubert, Managing Director

WOODBRIDGE, NJ — He-lios Capital Advisors, a New Jersey-based real estate ad-visory fi rm have acted as an advisor for an undisclosed client in the acquisition of a non-performing multifam-ily loan on East 14th St. in NYC.

“This deal was completed within just five business days,” said Josh Malka managing director of Helios Capital Advisors. “The bank presented certain terms that had to be met. Our client’s certainty of execution and timing was critical to making this deal happen.”

Helios Capital Advisors advises on non-performing multifamily loan

The seven-story property measures 12,700 s/f, has 25 residential units and one retail unit. The total loan amount was $2.294 million.

“While this was a very low-leveraged loan, our cli-ent recognized the potential added-value to the deal and capitalized on it quickly,” said Steven Schultz, CEO for Helios Capital Advisors. “This is precisely the type of transaction that Helios spe-cializes in because we use our expertise and focus to help identify assets where our clients will realize the best results.” ■

Douglas J. Muttart and Darren G. Muttart will follow in their father’s footsteps and install three eleva-tors in The Statue of Liberty.

ToTo learnlearn whatwhat we cancan do forfor you,you, callcall usus at 1-800-522-4551 orat 1-800-522-4551 or visitvisit ourour websitewebsite at www.libeat www.libertyelevatoelevator.com.com

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NEW JERSEYVice president Robert Squires handles sale

Kislak completes $9.3m sale of 82 units in Passaic CountyP OMPTON LAKES —

The Kislak Company, Inc. announced the sale

of two multifamily properties in Passaic County. The sales include a 68-unit property in Pompton Lakes for $7.9 mil-lion and a 14-unit property in Clifton for $1.4 million. Vice president Robert Squires rep-resented both parties, private investors, in each transaction.

“The market for multifamily properties, especially in north-ern New Jersey, remains very strong,” said Robert Holland, senior vice president and co-managing director. “These are strong properties that rarely trade in very good locations.”

“Quality multifamily proper-ties are in such high demand and the supply is limited,” said Squires. “They remain ex-tremely desirable investments. When the owners engaged Kis-lak they were aware of our long history of success and were con-fi dent that we would optimize their properties’ value.”

The Pompton Lakes property consists of a 68-unit garden apartment complex on over four and a half acres located off of Route 287. All of the units are large one-bedroom apartments with open kitchens, balconies and individual HVAC units. Constructed in the mid-1970s, it had been family owned and managed for over 35 years. The tenants are responsible for heat, hot water and elec-tricity usage. “This property was even more attractive since the tenants are responsible for their utility costs and Pompton Lakes does not have any rent control,” added Squires.

The seller was represented by Brian Fahey, Esq. of Bed-minster, New Jersey and the purchaser was represented by Andrew Niadeck, Esq. of Nut-ley, New Jersey. Financing was arranged by Brian Greenfi eld of M. Tuck Capital Associates. At the time of closing, the prop-erty was 100% occupied.

“The loan closed in a short 40 days,” added Squires.” “Given some of the challenges with fi nancing today, this was one of the fastest loan closings that I have experienced.”

The Clifton property contains 14 one-bedroom apartments and 10 garages with additional parking in a newly paved lot. It is located in a quiet estab-lished residential section of Clifton close to the Garden State Parkway and Route 46. ■

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NEW JERSEY

he New York tri-state commercial real es-tate investment mar-

ket is flush with equity capital mov-ing into the final months of the year, and interest in broad-class acquisitions across all sec-tors has risen dramatically. The primary driver for this demand stems from a desire for alternative, fi xed-income yields other than what is available in the bond and government

By Eugene Diaz, Prism Capital Partners, LLC

Debt-equity imbalance, slow growth challenge investorsT It is not available for everyone,

and it is not coming from every-one. A bank may like a deal one day and not the next.

This imbalance between debt and equity clearly points to continued deleveraging in the real estate markets. Only well-heeled investors with ac-cess to cash will successfully pursue opportunities. Those investors are seeking stabilized properties regardless of asset type. On the other end of the spectrum, risk trades remain limited. Turnaround stories by companies involved in opportu-nistic investments are tepid in conjunction with the generally weak economic rebound.

That being said, we continue to see evidence of improving corporate profi tability, which is generating additional mar-ket recovery in the offi ce and industrial sectors. Those of us who do focus on value-add proj-ects recognize that the right opportunity at the right price can still be found. This time around, knowing it when you see it is far more diffi cult.

For example, last year our fi rm re-acquired 399 Jefferson Rd., a 180,000 s/f, class A offi ce building in Parsippany, NJ. We initially owned the property in a joint venture from 2003 to 2006, but sold it to a user when the sole tenant chose not to renew. That user never took occupancy. We made the repurchase at a signifi cantly advantageous price, once again drawn by the property’s qual-ity, highly desirable market and excellent accessibility.

Within months, we leased 85,000 s/f there, to Pinnacle Foods Group. The fi rm recently expanded, adding another 11,000 s/f to its commitment, and we are in active nego-tiations for the balance of the building.

The bottom line remains that opportunities always exist. The landscape is continually chang-ing, and those of us who want to be involved may have to sit patiently in traffi c, changing lanes waiting for a shift in fl ow to rapidly move ahead.

At the same time, we need to make some adjustments to our new reality. Slow economic growth, lack of broad-based debt capital and competition in the equity space all are combining for moderated re-turns. As such, we need to get comfortable with a new normal for investment returns. These

securities markets. The recent turmoil in sovereign debt mar-kets has further fueled this trend.

Yet as money swells on the equity side, it is not being matched by broad-based inter-est in the debt capital markets. As a result, while equity inter-est in real estate is growing, the overall conservativism in the lending markets remains, and capital for debt fi nancing remains highly stratifi ed and particular. To the extent that fi nancing is available, almost exclusively for stabilized as-sets, pricing is very attractive. However, it is not broad based.

Eugene Diaz

continued on page 14B

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

SHOPPING CENTERSNEW JERSEY SPOTLIGHT

CENTRAL NEW JERSEY

LMWOOD PARK, NJ — Nat Gambuzza and Lauren Federgreen of

M a r c u s & M i l l i c h a p Real Estate Investment S e r v i c e s , the nation’s largest real estate invest-ment services fi rm, has ne-gotiated nearly $99 million in multifamily investment sales totaling 1,290 units in the fi rst three quarters of 2011, accord-ing to Michael Fasano, vice president and regional man-ager of the fi rm’s New Jersey offi ce. In all, Gambuzza, a vice president investments in the New Jersey offi ce, and multi-family investment specialist Federgreen, have closed 22 transactions – including one land loan sale – since Janu-ary.

Some transactions of note include the sale of an 11-build-

Totaling 1,290 units in the fi rst three quarters of 2011

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

area purchasers acquiring multifamily product, we are seeing a shift within the state: North Jersey buyers are now looking at South Jersey in an effort to purchase at a lower price per unit.”

For example, Gambuzza and Federgreen satisfi ed a 1031 ex-change investor’s requirements by trading Riverside Gardens, a 30-unit apartment complex in Rahway, N.J., at a price of $2,550,000 or $85,000 per unit, for the 80-unit Haddon Cross-ings complex in Haddon Town-

ship, in Southern New Jersey which sold for $4,900,000 or $61,250 per unit.

In another transaction, a two-property portfolio located in Haddon Heights and Oak-lyn, both Southern New Jersey towns, was sold by an invest-ment group to a North Jersey investor.

Gambuzza and Federgreen have also played a role in some larger project-based Section 8 complexes that have traded within the past nine months. ■

E ing portfolio totaling 172 units in Rahway, N.J. The properties, which were sold by the original developer, commanded a pur-chase price of $13.7 million or $79,651 per unit.

Another notable transaction includes the sale of Stoney-brook Gardens in Plainfi eld. The 70-unit garden complex traded for $5 million. “This transaction faced several hur-dles due to the fact that most similar properties in the area are and were in some sort of distress,” said Gambuzza. “We had to overcome that by ensur-ing the quality of the asset, the value-added component and the ease of being able to fi nance the transaction.”

The majority of transac-tions closed by Gambuzza and Federgreen involved private investors vying for smaller multifamily assets, distressed deals including loan sales and REOs, and large Section 8 housing complexes. “There is pent up demand for apart-

ment buildings of any type in both Northern and Southern New Jersey as interest rates continue to drop,” says Feder-green. “I am sure this will elicit a fl urry of transaction activity in the second half of 2011.”

“As a result of this low in-terest-rate environment and continued fear among inves-tors to place their capital in the volatile stock market, we are seeing a lot of new part-nerships and groups teaming up to acquire properties,” says Gambuzza. “Specifi cally, we are seeing a number of syndica-tors and 1031 exchange inves-tors stepping up their activity levels in the market. Strong multifamily fundamentals haven’t hurt us either. We are seeing vacancy rates dip below 5 percent and rents beginning to grow again.”

“Local, out-of-state and even foreign investors are active in the New Jersey apartment market,” Gambuzza continues. “In addition to seeing out-of-

SUMMIT, NJ — The own-ership of Summit Executive Center, a partnership led by industry veteran Mark Yeager, announced that a New Jersey investment fund has signed a lease to become the second ma-jor tenant at the new, state-of-the-art business center. When completed, Summit Executive Center will feature 65,000 s/f of class A, headquarters-quality offi ce space in Summit’s down-town central business district.

Pennant Capital Manage-ment, LLC signed a lease for 13,000 s/f and is expected to take occupancy in July, 2012. The investment advisor, which was founded by Alan Fournier in 2001 and currently manages more than $5.3 billion in inves-tor capital, is relocating from Chatham.

Earlier this year, a leading global professional services fi rm signed a long-term deal to be the site’s anchor tenant, which resulted in the building being nearly 50 percent leased before the commencement of construction.

Pennant Capital Mgmt. signs lease at Summit Executive Ctr.50 percent of the parking will be covered, and the structure will be directly accessible to the offi ce building via access from both levels of the park-ing deck.

Construction on the project is underway and is expected to be completed by late spring of 2012 in order to accommodate tenant move-ins by the sum-mer of 2012.

Summit Executive Center is located in a central downtown location, two blocks from a New Jersey Transit rail link that provides Midtown Direct service, as well as direct lines to Hoboken and Newark. Just 20 miles from Manhattan, Summit is an affl uent Union County suburb with access to main routes of transportation including Interstate 78, Route 24, the Garden State Parkway and the New Jersey Turnpike. Newark Liberty Airport and Morristown Corporate Airport are both approximately 15 minutes away. The downtown Summit area, which is within walking distance of the build-

ing, features more than 200 stores and restaurants. Local amenities include the Short Hills Mall, Short Hills Hilton, Grand Summit Hotel, Summit Playhouse, the DeBary Inn and the Visual Arts Center of New Jersey.

Mark Yeager is founder and principal of MRY Associates, LLC, a private equity real estate organization seeking value added commercial and multi-family investment and development opportunities in the Northern New Jersey marketplace. With 26 years of experience in commercial real estate, Yeager previously served as president of The Gale Company, where he oversaw the investment of more than $3 billion of institutional funds and the acquisition or develop-ment of more than 15 million square feet of commercial space throughout the greater New Jersey marketplace. He also previously served as executive vice president of Mack-Cali fol-lowing the company’s acquisi-tion of Gale. ■

Nat Gambuzza

“Pennant’s decision to re-locate to Summit Executive Center further validates our vi-sion in transforming this prop-erty into one of New Jersey’s premier offi ce environments,” said Yeager. “This lease refl ects our belief that companies are increasingly seeking out top-quality space in prime locations that offer direct access to public transportation, airports and multiple area conveniences.”

Jones Lang LaSalle executive vice president J.C. Giordano represented the tenant, while CB Richard Ellis executive vice president Jeffrey L. Heller, SIOR, represented the landlord in the transaction.

“We understand the value of having a prestigious address that will afford our employees numerous benefi ts that come from being in a new, cutting-edge offi ce and fi rst-rate loca-tion,” said Fournier, Founder of Pennant Capital Management, LLC. “We look forward to grow-ing our business at Summit Ex-ecutive Center and being part of the Summit central business

district.” Yeager and his partners pur-

chased the site of Summit Executive Center, formerly known as the Summit Medical Group Building or One Defor-est Avenue, earlier this year. The previous ownership had received fi nal site plan approval in mid-2008, but the site has sat dormant ever since due to the challenging economy.

The redevelopment will con-sist of the renovation and rede-sign of an existing four-story, 40,000-square-foot offi ce build-ing along with the construction of a 25,000-square-foot addi-tion, transforming the entire development into a LEED-certi-fi ed, Class A business center.

In addition to the building’s fi rst-class, high-end fi nishes, one of the property’s key ameni-ties will be a two-level, 200-car parking structure. The number of spaces represents 3.5 spaces per 1,000 square feet of offi ce space – an above average ratio of parking spaces per building square footage in downtown lo-cations. Additionally, more than

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

Klear of NAI Mertz completes lease transaction of 19,900 s/f

tenant, a national manufac-turing pharmaceutical com-pany that does research and development activities asso-ciated with the commercial-ization of a specialty chemi-cal product. The landlord of the 158,700+ s/f building is 65 Clyde Road, Inc. ■


CENTRAL NEW JERSEY

AST BRUNSWICK, NJ — Newmark Knight Frank represented

PNC Bank in a 131,363 s/f lease exten-sion at Tower Center II. The new lease in-c l u d e s t h e exchange of two fl oors and remodeling of the current layout for increased effi ciency.

David Simson, vice chair-man/COO of Newmark Knight Frank’s New Jersey operations,

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

CB Richard Ellis’ Neuer and Sarno represents owner

Simson of Newmark Knight Frank represents PNC Bank in 131,363 s/f lease extension

E represented the tenant in this transaction. “We are delighted with the outcome of these negotiations and discussions on behalf of PNC. It was an opportune time to upgrade the space, allowing PNC to enhance its corporate image for years to come,” noted Simson.

PNC is one of the leading fi -nancial institutions throughout the country. For more than 150 years, PNC has been committed to providing its clients with service and powerful fi nancial expertise to help them meet their goals.

Tower Center is a 25-acre Tower Center II

David Simson

at the site.The ownership, a pension

fund with an asset manage-ment team advised by Sentinel, was represented by Jeremy Neuer, senior VP, and Joseph Sarno, executive vice president, of CB Richard Ellis. ■

CARTERET, NJ — Jack Fersko and his team of John Hague, Regina Schneller and Anthony Giountikos at West-

Cushman & Wakefi eld brokers dealFarer Fersko reps KTR Capital Ptrs. in acquisition

field-based law firm Farer Fersko served as real estate, land use and public fi nance counsel to private equity fi rm KTR Capital Partners on its recent acquisition of the iPort 12 International Trade and Logistics Center in Carteret, New Jersey.

The firm’s representation addressed a broad range of issues including those related to right of access and title, the transfer of permits, and the transfer of access rights, a pro-cess which required extensive negotiations with multiple public and quasi-public enti-ties. Farer Fersko also nego-tiated and orchestrated the assignment, assumption and amendment of existing public financing through the New Jersey Environmental Infra-structure Trust (EIT) and the NJDEP, which was secured by Payments in Lieu of Taxes pursuant to a fi nancial agree-ment under New Jersey’s long term tax exemption law. This process required approvals from the Borough of Carteret, the Carteret Redevelopment Agency, the EIT (subject to the Governor’s right of veto), and the Commissioner of the NJDEP.

The iPort 12 site is located just off Exit 12 of the NJ Turn-pike. Redevelopment of the 70 acre former brownfi eld site, which was for many years a municipal solid waste landfi ll, was completed in 2007. KTR’s acquisition of the 1.26 million square foot warehouse space included the negotiation of a short sale with the original developer’s lender and the as-sumption of public fi nancing originally obtained to fund environmental remediation of the site.

Attorney Robert Crespi of law firm Wolff Samson in West Orange served as envi-ronmental co-counsel on the deal, which was brokered by Cushman & Wakefi eld.

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8B — November 11 - 24, 2011— Central New Jersey — Mid Atlantic Real Estate Journal MAREjournal.com MAREjournal.com Mid Atlantic Real Estate Journal — Central New Jersey — November 11 - 24, 2011 — 9B

The Capital Health MOB & Surgery Center - A medical work of art

Healthcare construction:Challenging, exciting and rewarding every day

H opewell, NJ — The Capital Health Medi-cal office Building and

Surgery Center opened on November 6 off Rte. I-95, three miles north of Sesame place. The 360,000 s/f MoB is part of the Capital Health Regional Medical Center project that is the largest HUD-funded development in New Jersey history.

The Capital Health Medical office Building is comprised of five full floors and includes oncology treatment facilities, dialysis and infusion areas, pharmacy and laboratory facili-ties, Infant care area and indi-vidual offices for physicians and staff. The design teams, Target Building Construction, Anchor Health properties and Capital Health have successfully built the 360,000 square foot MoB inside the shell provided by Skanska.

For a year and a half, Target Building Construction hosted bi-weekly preconstruction meet-ings at their headquarters in Crum lynne, pA. over the course of these meetings, An-chor Health properties, Array Healthcare Solutions, AKF Group, and Capital Health had representatives in attendance to plan the schedule and review logistics for the MoB portion of the Hopewell project. “During the preconstruction phase, we were able to establish a budget, interview subcontractors and set our plan in motion to ultimately

Central new Jersey ProJeCt of the Month

determine the success of our project,” advised Rich Goodman, Target Building Construction president.

“The monthly meetings we at-tended at their offices were well organized and informative and were essential to kick-start our project. our experience working on the Capital Health MoB with Target Building Construction has been successful,” said Bill Cook, AIA of Array Healthcare Facilities Solutions.

“Comprehensive preconstruc-tion planning facilitates a smooth and successful project,” reports pat pondok, Target Building Construction secretary and treasurer.

The Capital Health MoB was extremely challenging from any project management position. The size and complexity of the project required all the experi-ence we jointly possess and put it to the test every day. Daily technical challenges such as

equipment installation prepara-tions were further complicated by equipment parameters and upgrades. Based on the rapid advancements in medical tech-nologies, decisions were made every day on how, when and where to provide the latest technologies in each specialty area at hospital opening and to provide alterative solutions. All of this was built into a medical office building that is one of the most technologically advanced hospitals on the east coast.

Anchor Health properties’ paula Crowley said, “over the past five years, Anchor has worked with Target on projects ranging in size from $5k to $30m in value. Target proves time and again that they have the expertise we need for our healthcare development projects from imaging suites to surgery centers.”

The vision for the MoB is to create an environment where

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physicians are on the premises and completely accessible to their patients. The first floor serves the Regional Cancer Center with complete diagnostic imaging and radiation therapy, including CyberKnife. The hos-pital’s executive administrative offices and conference rooms are also located on the first floor. The second floor is designed for ambulatory surgery and infu-sion, while the remaining floors house perinatal and dialysis services as well as additional patient examination spaces.

AKF Group integrated the main central utility plant services to serve the Medical office Building. A separate mechanical room located atop the MoB houses seven air handling units, pressure reduc-ing stations, exhaust fans and electrical distribution panels. The MoB interior construction and mechanical, electrical and plumbing (Mep) services were

AKF partner David Moreno, pe, adds that “Target Building Construction and AKF have had a great relationship over the past ten years working at state-of-the-art facilities. In every case, Target has been truly professional, caring and responsive to one sentiment – ensuring the success of the project for the owner.” n

Project teamGeneral Contractor ................Target Building Construction

MEP Engineer ...................................................AKF Group

Mechanical Contractor ................ The Barham Group, LLC

Electrical Contractor ......Hatzel and Buehler, Incorporated

Comm’l. Painting Contractor ... Schnoll Painting Corporation

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

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

separated from the core hospital distribution services in an effort to accelerate overall construction on the site. In addition, fit-out, Mep and construction services will be provided as physicians lease space in the building. The MoB is also integrated with the overall energy model and meets the leeD Silver rating require-ments for new construction.

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CENTRAL NEW JERSEY

RENTON, NJ – Rich-ardson Commercial Realtors announced

the sale of the property located at 500 Perry St. to New Jersey Precast Corp. The property is 82,196+ s/f and was formerly the headquarters of the Trenton Times, a long standing local community newspaper. New Jersey Precast plans to use the building for their business offi ces and for storage of build-

The Trenton Times relocates to Riverview Plaza

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

T ing materials, such as pre cast concrete, which is used in the construction of bridges. This

property is a Tr e n t o n landmark lo-cation at the interchange with Route 1 and has ex-cellent access to infrastruc-ture. Michael

Pratico Sr., the agent for the property, was excited to fi nd a buyer who can make use of a under utilized property in a great location in Trenton.

The Trenton Times has relo-cated to Riverview Plaza, the new prestigious offi ce build-ing that is located directly adjacent to the Mercer County Waterfront Park. They are happy to fi nd another location in the City of Trenton that works well for their needs and still keeps the paper involved in the local Trenton community.

In a separate transaction, Richardson Commercial Re-altors announced the lease of 3,686+ s/f of offi ce space on the fi rst fl oor at 15 West Front St. to Insight Consulting Services (ICS). The new tenant was looking to expand their fi rm’s space and needed a nicely appointed suite in a location close to the state house. 15 West Front Street was able to meet their needs and allowed them to double the size of their office space because of the excellent rental rates, close location to the statehouse and off street parking.

“Insight Consulting Services is a full service government affairs, strategic communica-tions and campaign consul-tancy firm with decades of experience in the healthcare and non-profi t arenas at the local, state and federal levels,” said Peter Lillo, principal of ICS, “the Jasko Building not only has the space we need, but room to grow in the months and years ahead as we expand our efforts.” Michael Pratico Jr., the listing agent for the property, was happy to help a tenant expand to this downtown location. He feels it is “exciting to see the market begin to recognize this building for what it is: An attractive, nicely appointed property a stone’s throw away from the statehouse. ICS will make an excellent addition to the building.” ■

500 Perry St. 15 West Front St.

Michael Pratico Sr. Michael Pratico Jr.

A 40,000± square foot warehouse that is available for sale. Ideal for light manufacturer or distributor.

Well secured and has 27+ foot ceiling heights.

A 120,000+ SF of ce park in two buildings with small spaces starting at 892+ square feet and a total of 42,103+ square feet available for lease. This is a

prime location with affordable rents approximately two miles away from Hamilton Train Station.

A 13,200± square foot industrial type building, divisible to 4,000± SF available for sale.

This is ideal space for warehouse,light manufacturing or automotive use.

A 15,000± SF of ce building available for sale or lease. This is a corner location with great exposure

and visibility. Onsite parking is available.

MANCO PROPERTYMANCO PROPERTYTrenton WarehouseTrenton Warehouse

IBIS PLAZA OFFICE SUITESIBIS PLAZA OFFICE SUITES Hamilton Township Of ce BuildingHamilton Township Of ce Building

AAMCO PROPERTYAAMCO PROPERTYHightstown WarehouseHightstown Warehouse

STATE GROUP BUILDINGSTATE GROUP BUILDINGTrenton Of ce BuildingTrenton Of ce Building


CENTRAL NEW JERSEY

“THE PUMP BOYS”10 Memorial Drive

Neptune, NJ 07753732-988-9600

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Pumps, UL Listed NEMA 4X Control Panel, Pressure Water Level Control, requires no floats, Schedule 80 Face Piping and Fittings, Multiple types of covers, Fully Pre-as-sembled Lift Station avail-able. (1) Eliminates Pumping Charges, (2) Promotes good housekeeping and manage-ment practices, (3) Odorless operation, (4) Patented process that treats restaurant waste-water to exceed EPA, (5) State and local discharge standards, (6) Recovered F.O.G. extracted to container allows for easy

disposal, (7) Easy Plumbing and Electrical Installation, (8) Strong and corrosion re-sistant PVC construction, (8) Mazeamax media removes oil droplets as small as 20 micron.

Applications for the Solids Interceptors: Compartment Sinks - Pre-rinse Stations – Dishwashers - Mop Sinks - Trunk Drainage Filtration -Multiple Fixtures.

Cullen Associates was founded in 1954 by Hugh J. Cullen and developed by his son Richard Cullen. ■

Cullen Associates

The ECH2O: The industry’s mosteffective, versatile grease removal system

he ECH2O is the in-dustry’s most effective, versatile grease re-

moval system. Grease Removal Systems Inc. has created the leading grease removal brand by specializing in providing high quality grease removal devices and solids interceptors, which cater to the needs of the world’s largest customers.

It is a patented system that treats restaurant wastewater to exceed EPA standards. Ef-fluent is reduced to 20-100 parts/million. It’s odorless operation, easy installation, along with the ability to cus-tomize this product to fi t your specifi c needs, will leave you with less maintenance, re-duced annual cost and most importantly, peace of mind.

The ECH2O Grease Removal System will automatically remove oil, grease, fats, and in-tercept solids before they cause costly damage and surcharges. It is an engineered system as defi ned by the International Plumbing Code and is the most effective method at obtaining compliance with local, state and government regulations.

To clean out clogged sink drains in any commercial prop-erty, it cost upwards of $2200 dollars or more, this of course depending on the damage. If the damage is bad enough you’re looking at thousands more, not to mention the fi ne you will receive from the city for causing such damage.

The ECH2O LS Lift Station includes a fiberglass sump with anti-flotation flange, control box with power, pump and level control connects, gasketed and bolted access lid, inlet and vent fi ttings, overfl ow baffle, 2” outlet, high tem-perature submersible sump pump(s) which are controlled by a pressure sensing water level control. The pumps can handle capacities up to 45 gal-lons per minute and heads up to 22 feet and are low r.p.m. to reduce oil emulsifi cation. If the sump becomes fi lled with wastewater, the wastewater can fl ow under an oil dam and through the overflow, trap-ping the oil and grease in the collection chamber but still allowing effl uent to fl ow into the sewer.

Standard Features: Simplex or Duplex Operation, Fiber-glass basin with Anti-fl otation fl ange. Direct bury installa-tion, requires no vault, High Temperatures Submersible

T


CENTRAL NEW JERSEY

OUTH PLAINFIELD, NJ — Bergman Real Estate Group was re-

cently named the leasing and property management agent for 1001 Durham Ave., which is also known as the Tumi Building.

Located on a fi ve-acre tract in Middlesex County, the class A, 110,000 s/f building was constructed in 1986 and renovated in 2006. The archi-tecturally distinct building features three stories in a rect-angular wing and four stories in a circular wing and has a typical fl oor size of 36,000 s/f.

Class A site offers distinctive architectural elements and convenient location

Bergman Real Estate Group awarded1001 Durham Avenue assignment

S North-East Realty, LLC has retained Bergman for the as-signment.

“This class A property has all of the earmarks required by to-day’s tenants, such as quality fi nishes, ample parking and a convenient location directly off of I-287 at the Durham Av-enue exit,” said John Osborne, executive director of leasing and marketing for Bergman. “We look forward to identify-ing high-caliber companies to add to the tenant roster in the near future.”

The site retains high vis-

ibility from I-287 off of Exit 4 and is close to I-78, Rtes. 22, 202/206, the NJ Tpke. and Garden State Pkwy. The site is also conveniently located near many restaurants, hotels and shopping venues and is ap-proximately 45 minutes from New York and 25 minutes from Newark Liberty Airport.

Currently, there are two availabilities of 5,770 and 9,357 s/f in the complex. Both units offer the flexibility to divide down to smaller units of 2,000 s/f. To learn more about leasing opportunities at 1001 Durham Avenue or other Berg-man Real Estate Group prop-erties, contact John Osborne or Kelly Ziegenfuss. ■

Tumi Building

LAWRENCEVILLE, NJ — Christiana Foglio, founder/owner and chief executive

o f f i c e r o f Community Investment S t r a t e g i e s (CIS) , Inc . h a s b e e n honored as a fi nalist in two top awards competitions

– NJBIZ Business of the Year and Stevie Awards for Women in Business.

Foglio has been named as a fi nalist in the Executive of the Year category in the 2011 NJBIZ Business of the Year awards program. Winners will be announced at a formal award ceremony to be held on Dec. 5, 2011 at the Palace at Somerset Park in Somerset. Additionally, Foglio has been selected as a finalist in the 8th Annual Stevie Awards for Women in Business, which honors women executives, entrepreneurs, and the com-panies they run – worldwide. This year’s Stevie Award win-ners will be announced at an awards gala at the Marriott Marquis Hotel in NYC on Fri-day, Nov. 11.

“I am honored to be a fi nal-ist for business excellence amongst such inspiring entre-preneurs represented by this year’s fi nalists,” said Foglio. “My professional excellence is driven by my desire to revital-ize communities, leaving them better than when we found them.” ■

CIS’ Foglio named as fi nalist in two top awards events

Christiana Foglio

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

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PEOPLE ON THE MOVE

ONG BRANCH, NJ — Mary Ann Barba-to, B.S.N., L.N.H.A.,

C.A.L.A., has been named vice president of assisted liv-ing for Care Strategies, LLC. She will oversee the administra-tion, staff and operations of the company’s as-sistive services offered on-site at affordable and market-rate senior housing communities.

Barbato will spearhead the expansion of Care Strategies’ on-site services throughout New Jersey, including Mon-mouth, Burlington and Union counties. Care Strategies is an affiliate of Community Investment Strategies (CIS), Inc., a fully integrated real estate company specializing in the development, construction and management of multi-fam-

L

Of assisted living services for Long Branch

Care Strategies LLC appoints Barbato vice president

ily housing. CIS’ communities include 55+, senior housing and mixed-use redevelopments as well as market-rate and afford-able housing.

“The addition of Mary Ann to the CIS family of services will help us expand upon our mis-sion to address the public hous-ing and health issues impacting seniors and adults with fl exible, need-based, quality medical and personal assistance ser-vices, in collaboration with family members and personal physicians,” said Christiana Foglio, CIS founder and CEO.

“I am so pleased to be a part of Care Strategies’ innovative approach to at-home senior care,” said Barbato. “The goal here is so simple, yet so novel – to help people, who do not have the financial means to reside in an assisted living facility, remain in their own apartment homes instead of a long-term skilled nursing care facility.”

An industry veteran with more than 25 years in the senior care and assisted living fi eld, Barbato formerly served as administrator of CareOne at Wall, in Wall Township, and held the positions of director of nursing and regional direc-tor of assisted living facilities with the company. She also was a partner and principal consultant with Professional Assisted Living Services LLC; corporate director of quality for Presbyterian Homes of New Jersey Foundation; and admin-istrator/assistant administra-tor of The Grove Health Care Center.

A graduate of Monmouth University with a bachelor’s of science in nursing, Bar-bato earned her associate’s de-gree in nursing from Fairleigh Dickinson University. She is a registered nurse, certified assisted living administrator and licensed nursing home administrator. ■

Mary Ann Barbato

EDISON, NJ — Cushman & Wakefi eld, Inc. announced that a seasoned, fi ve-person o f f i ce bro -kerage team headed by Paul Gian-n o n e h a s j o ined the c o m p a n y ’s Edison o f -fi ce. The new hires, who are transitioning to Cushman & Wakefi eld from Jones Lang LaSalle, include Giannone, executive vice president, of Ocean Twp.; Paul Hindes, ex-ecutive director, of Westfi eld; Kevin Carton, senior direc-tor, of Brielle; Todd Elfand,

Offi ce leasing group headed by Giannone

Cushman & Wakefi eld hires fi ve-person team

Paul Giannone

senior director, of Branchburg; and Charles Cavallo, associ-ate director, of Hamilton.

“Cushman & Wakefi eld has one of the best brands in the country, if not the world,” Giannone said. “This is a great opportunity for us to both take advantage of and contribute to that distinction. And while our team has com-pleted transactions through-out the Mid-Atlantic region, our concentration always has been in Central New Jersey, which makes our joining the Edison operation a natural fi t. We look forward to working toward increasing the fi rm’s regional presence and market coverage.” ■

HACKENSACK, NJ — NAI James E. Hanson announced the hiring of industry veteran S t e v e D e M a t t h e i s , CPM to serve as CEO of the c o m p a n y ’ s p r o p e r t y management subs id iary, NAI Hanson Management LLC.

Under De Mattheis, NAI Han-son Management will offer an enhanced spectrum of property management services for the company’s 3.9 million square feet of assets owned and under management, encompassing

NAI Hanson adds De Mattheis tooversee property management subsidiary

office, industrial/warehouse and retail properties located throughout the Northeastern U.S.

De Mattheis’ vast experience overseeing the repositioning of distressed properties establish-es NAI Hanson Management’s expertise in helping banks, fi nancial institutions and asset management companies ad-dress the needs that are specifi c to the stabilization of non-per-forming assets. The company is equipped to handle every aspect of property management, con-struction management, plant and physical maintenance, tenant leasing and fi t out, and legal and environmental con-sulting.

“We have been involved in property management since our company’s inception, and the addition of Steve to our team adds to a strong founda-tion that will help us grow this important service area,” NAI Hanson president William C. Hanson, SIOR, said. “Steve is a great fi t for this enterprise and brings strong relationships as well as a keen understand-ing of the property manage-ment needs of owners to our organization. Additionally, we believe his experience work-ing with distressed properties and assisting banks with their property management needs will prove to be a valuable as-set.” ■

Steve De Mattheis

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

JDA group supports The American Cancer Society

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

SADDLE BROOK, NJ — Alec Monaghan has joined CBRE as a fi rst VP based out of the East Brunswick offi ce. Monaghan will leverage his wide-ranging global experience to focus on major business de-velopment possibilities in the region and globally.

“Alec’s extensive experience covering virtually every aspect of commercial real estate and his proven track record in pro-viding strategic portfolio solu-tions to multinational corpora-

CBRE hires industry veteran Monaghantions is a huge boon for CBRE,” said Jeff Hipschman, senior managing director, and head of New Jersey operations. “We anticipate his achievements on global accounts and cross-bor-der business developments will play a key role in leading our team in new directions.”

Monaghan brings more than 27 years of experience to CBRE, having held senior-level posi-tions at Cushman & Wake-fi eld for 21 years, as well as at Binswanger. ■

FAIRFIELD, NJ — David Landau & Associates, LLC, a provider of advisory services to private equity, hedge funds, REITs and other public and private real estate and fi nan-cial services fi rms, announced that Michael Sullivan has joined the fi rm as a managing director.

Sullivan, 43, who has more than 20 years of experience in the real estate industry, will serve as the main contact for some of the firm’s core clientele, as well as generate new business opportunities,

Sullivan joins David Landau & Associates as managing dir.including growing the fi rm’s hospitality practice.

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

Prior to joining DLA, Sulli-

van served as managing direc-tor and head of hospitality for Gemini Real Estate Advisors, a New York based real estate investment fi rm. He was re-sponsible for the hospitality platform at the firm, which owns and operates a portfolio of hotels in New York and along the East Coast, and pro-vides third-party hotel man-agement services. Gemini Real Estate Advisors has been one of the most active hotel groups in New York. Sullivan was also a member of the fi rm’s invest-ment committee. ■

numbers won’t touch what we were seeing prior to the market crash, but, in relative terms, real estate will continue to be

a pretty good investment. Eugene Diaz is principal

partner at Prism Capital Partners in Englewood, NJ. ■

continued from page 4BBy Eugene Diaz, Prism Capital . . .


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If you have a specifi c question that you would like to ask our experts in the fi elds of Development, Design, Construction,Appraisal, Planning, Finance or Law, you may visit our website at www.marejournal.com. Click Ask An Expert,

and submit your question or to view each of our experts' bios, please click on their photos.For more information contact Michael Campisi, Publisher at 1-800-584-1062, x 208

Michael P. Hedden, MAI, CRE, FRICSManaging Director

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16B — October 14 - 27, 2011 — New Jersey — Mid Atlantic Real Estate Journal MAREjournal.com

ICREW NJ October Luncheon Meeting

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

W OODBRIDGE, NJ — “The year 2011 started out reason-

ably well, but the world be-gan to change as we entered the second half,” NAI Global President/CEO Jeff M. Finn told attendees at the October 20th luncheon meeting of ICREW NJ, the New Jersey Chapter of CREW Network. “This is a very interesting time,” he said, noting Wall Street’s “wild gyrations,” debt problems in Europe, turmoil in Greece, and the like. “There is a great degree of instability in the world.”

Commercial real estate, of course, has felt the impact of that instability. “The money is there – it’s just not coming to market,” Finn told attendees at the Woodbridge Hilton, citing concerns of government. He predicted, however, a period of “slow, steady growth—the worst is behind us.” Other trends: “Construction starts are at a 50-year low,” and much of what happens as the months ahead unfold will be tied to the ability of the economy to create new jobs.

“We have recovered less than 25% of the jobs lost in the recession,” Finn said, with pri-vate sector gains offset by pub-lic sector cuts. “Sixty percent of industry sectors are growing, but slowly,” with much of the impetus that exists coming from pharmaceuticals, health-care, and education.

A positive for commercial real estate in New Jersey: “People are starting to make decisions, especially in the industrial sector, driven by the region’s ports,” Finn said. One positive tied to the real estate industry’s ups and downs: “Volatility creates opportunity, and those opportunities are in the secondary markets,” he said. “Well-located, well-leased properties in those markets are providing real opportunities for the private investors in particular. We expect to banks and fi nancial institutions to bring product to market as pricing continues to strengthen “

As for ICREW NJ business, the 2011-2012 slate of offi cers has been approved in a vote by the membership, announced Sheila Nall, director of Interior

Design at KSS Architects and current president of ICREW NJ. The approved slate:• President: Cheryl Hardt, CBRE• President-elect and CREW Network Delegate: Patricia Riedel, CBRE• Treasurer: Sefi Silverstein, Wilkin & Guttenplan• Recording Secretary: Rachel Brindisi, NAI Global• Director of Membership: Mary Lynn Kearns, Dancker Sellew & Douglas• Director of Programming: Monica Ceres, Giordano Hal-loran & Ciesla• Director of Philanthropy: Susan Karp, Farer Fersko• Directors of Sponsorship: Pat Faulkner, NAI Global; Di-ane Menard, Prestige Title• Director of Special Projects - Golf: Robin Grossman, Zycus Inc.• Director of Special Projects - PR & Website: Rebecca Mach-inga, WithumSmith+Brown• Advisor and CREW Network Delegate: Sheila Nall, KSS Architects• Advisor: Silvana Finizio, Carousel Industries• Advisor and By-Laws: An-nette Murray, Wilkin & Gut-tenplan

In other business, the An-nual Golf Outing, held on May 4, 2011 at Fiddler ’s Elbow Country Club, raised $12,000 for Cerebral Palsy of New Jer-sey, reported Robin Grossman of Edge Technologies, ICREW NJ’s director of special projects - golf. A check was presented to CPNJ at the meeting. And for the October philanthropy, ICREW NJ partnered with Operation Shoebox New Jer-sey, a volunteer organization that collects food and basic necessity items for U.S. troops overseas.

“We owe ICREW NJ a great debt for the support its mem-bers have provided,” said Rod Hirsch, executive director of Operation Shoebox New Jer-sey, who called for volunteers at the organization’s fi rst an-nual Christmas packing on December 3 at the Hillsbor-ough Elementary School in Hillsborough, NJ. “One person can make a difference.”

Next on the schedule is the November 10th luncheon meeting at the Woodbridge Hilton, followed by the Decem-ber 15th New Offi cer Instal-lation Luncheon and Sponsor Expo at Dolce Hotels & Re-sorts in Basking Ridge, NJ. A highlight of both events will be ICREW NJs 11th Annual Toy Drive. Members are asked to bring new, unwrapped toys to the meetings to be distributed to needy children and their mothers. For more informa-tion on the toy drive, contact Karen Rossilli-Kiefer of PAR Flooring, Inc., at 973-292-0089 x12, or [email protected].

ICREW NJ is the New Jer-sey organization for women involved in all aspects of com-mercial and industrial real es-tate. Members represent fi elds as diversifi ed as accountants, architects, appraisers, asset/property managers, attorneys, consultants, developers, lend-ers, leasing and sales brokers, mortgage bankers/brokers, marketing specialists, mar-ket and investment analysts, corporate real estate repre-sentatives and title/escrow offi cers. For more information on programming, sponsorship or membership, please contact ICREW NJ at (609) 585-6871, via email [email protected] or visit their website at www.icrewnj.org. ■

President Shelia Spriggs Nall

KSS [email protected]

President Elect & CREW Network DelegateCheryl Hardt

CB Richard Ellis, [email protected]

Treasurer Sefi Silverstein, CPA Wilkin & Guttenplan

[email protected] Secretary

Patricia FaulknerNAI Global

[email protected] of Programming

Monica Ceres Giordano Halleran & Ciesla, PA

[email protected] of Philanthropy

Susan C. KarpFarer Fersko, P.A.

[email protected] of Sponsorship

Patricia RiedelCB Richard Ellis, Inc.

[email protected] of Sponsorship

Mary Lynn KearnsDancker, Sellew & Douglas

[email protected] of Special Projects: Golf

Robin GrossmanEdge Technologies

[email protected] of Special Projects: Website/PR

Rebecca Machinga WithumSmith+Brown PC [email protected]

Advisor & CREW Network DelegateSilvana Finizio

Carousel Industriessfi [email protected]

Advisor Annette Murray

Wilkin & Guttenplan [email protected]

Advisor & BylawsJennifer Palestri

Normandy Real Estate [email protected]

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

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

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Section C of the Mid Atlantic Real Estate Journal

SHOPPING CENTERSPENNSYLVANIA

REAL ESTATE JOURNAL

DNB First provided fi nancing for the sale

Swope Lees Facilitates $3M industrial building sale

EST CHESTER, PA – Jim Lees and Chuck Swope of

Swope Lees, a West Chester based commercial real estate brokerage firm, arranged the $3,000,000 sale of 917 Old Fern Hill Road, West Chester.

The 40,000 s/f industrial flex building is 75% occu-pied. The buyer, Fernhill Business Center, LLC is led by Brad Wiggins of Wig-gins Shredding. Wiggins

ALSO INSIDE:

HI-LIGHTS

MAREjournal.com

Section C, 24 pages

NOVEMBER 11 - 24, 2011

Cushman & Wakefi eld negotiates $900,000 sale

Mericle announces 211,000 s/f total lease transactions

A 29,000 s/f heavy industrial building located in Lancaster has traded hands announced Cushman & Wakefi eld.See page 2C.

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

WESTERN PA.......................................................................6C

PA’S PREMIER AVAILABLE PROPERTIES SPOTLIGHT ...... 7-14C

CREW LEHIGH VALLEY ............................................. 18-19C

READING, PA — Packaging Corporation of America estab-lished a new 220,000 s/f product plant at Brasler Properties’ and Endurance Real Estate Group’s Premium Business Center on Tuckerton Road.

“Along with our partners at Endurance, we invested in ex-perienced technical personnel during the economic downturn to provide prospective tenants from the initial tour or RFP, the data they needed to under-stand our facility capabilities. This commitment has taken pressure off of thebrokers to represent technical details they are not qualifi ed and made PCA comfortable with the building and the capability of the team to deliver early in the process.” stated Chris Brasler, CEO of-

Willems of NAI Keystone represents landlord

Brasler Props. & Endurance REestablish a 220,000 s/f ind. plant

Shredding plans to occupy the building and expand its

operations. The seller is Fern Hill Associates, L.P. The 5

Brasler Properties.One of PCA’s main consid-

erations in deciding on this location was past positive expe-riences the Brasler/Endurance team had in the Twp. Pam Shupp and Jon Scott from Berks Economic Partnership assisted to attract PCA. Brasler/Endur-

Packaging Corporation of America

ance managed the initial con-struction, and PCA has chosen the Brasler/Endurance team to deliver Phase 2.

Steve Willems, NAI Keystone Comm’l and Ind., represented the landlord and Michael Zerbe & Lee Fein of Colliers repre-sented PCA. ■

acre property in West Goshen Township was not actively for sale on the market and Swope Lees was able to ar-range the transaction. DNB First was the fi nancial lender for the sale of 917 Old Fern Road.

Swope Lees Commercial Real Estate, LLC is a com-mercial real estate broker-age and consulting firm that operates regionally in Southeastern Pennsylvania, with an emphasis in Chester

County. It maintains re-gional, national, and interna-tional relationships through its affi liation with the CCIM Institute, the preeminent platform for commercial real estate networking, educa-tion, and technology. The professional services offered by Swope Lees include com-mercial real estate sales and leasing, market analysis, financial and investment analysis, and project-specifi c and market consulting. ■

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Great Marcellous Shale Opportunityin Northern Pennsylvania

570-207-4100Ellen Raineriwww.HinerfeldCommercial.com

[email protected] Commercial Real Estate

Opportunities for sale: Real estate to include: 200 acres54,000+Sq. Ft. of industrial space divided over multiple buildings plus executive houses, garages, cottage, and office. Property features: Over 30 Large Overhead Doors, Bridge Cranes, JIB Cranes. Electric is 480V-3Phase. Piped Stations for Air Compressor and Liquid Oxygen/Propane throughout buildings. Torrit Dust Collector, executive houses, cottage, officeMineral appraisal shows reserves of 64,444,444 tons on 100 acres. More reserves and value probable on total 200 acresDimensional blue stone quarry – approximately 800’ thickTimberAggregate alone - 500,000 ton already extractedDimensional blue stone quarry – approximately 800’ thickGas lease for proposed gas head and 3 gas wells (to be sold with real estate) Equipment (can be sold with quarry)

Opportunities for lease:Real estate (manufacturing buildings, 200 acres, executive houses, cottage, office)Dimensional Blue stone quarries Equipment (if quarries are leased)

Brushville Road, Susquehanna, Pennsylvania

Special Note:Sellers will consider a lease back period to continuing blue stone operation. Buyers would receive rent and mineral roy-alties. Owners will consider partial owner financing.

�C — November 11 - �4, �011 — Pennsylvania — Mid Atlantic Real Estate Journal MAREjournal.com

Pennsylvania

ANCASTER, PA — A 29,000 s/f heavy indus-trial building located

at 2200 Hathaway Rd. in Lancaster has traded hands, announced commercial real estate services firm Cushman & Wakefield, Inc. B&B Struc-tures, a shed manufacturer located in Bird-in-Hand, Pa., purchased the property for $900,000.

Gerry Blinebury and Leah Balerno of Cushman & Wake-field’s Philadelphia industrial brokerage practice orchestrat-ed the transaction on behalf of the seller. Scott Bradbury of U.S. Commercial Realty rep-resented the buyer.

Located adjacent to Green-field Corporate Center and Conestoga Valley High School, 2200 Hathaway Rd. became ex-cess property for the owner last year, when that company con-solidated its operations else-where in Lancaster County.

“This property came onto the market in late 2010, provid-ing an unusual opportunity within the immediate market for a small industrial user to purchase space,” Blinebury said. “The benefits of its lo-cation, especially the ability for its occupant to take ad-

Blinebury & Balerno rep seller

Cushman & Wakefield negotiates $900,000 sale L

vantage of being next door to the region’s premier business campus, drew a relatively short marketing cycle and an attractive price for both parties considering overall economic conditions.”

2200 Hathaway Rd. of-fers proximity to Route 30 as well as Greenfield Corporate Center’s abundant amenities including hotels, shopping, dining and recreation. n

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Mid Atlantic Real Estate Journal

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

fax 781-871-5299MAREjournal.com

Section PublisherElaine Fanning

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PennsylvaniaReal Estate Journal

CONSHOHOCKEN, PA — On behalf of Buccini Pol-lin, Binswanger is pleased to announce that approximately 81,000 s/f of space has been leased at River Park II and Quaker Park.

River Park II, located at 1200 River RD., is a 71,800 s/f. Class A office building offering one-of-a-kind histori-cal architecture. Binswanger working as exclusive leasing agent, secured the new 15-year, 61,496 s/f lease for the Academy in Manayunk. AIM, is a school (grades 1-12) for

children with language based learning disabilities and pro-fessional development center for educators and practitio-ners. Mike Barker and Dan Dagit of CB Richard Ellis represented AIM.

In another separate trans-action, Binswanger working as exclusive leasing agent for Quaker Park, a 202,046 s/f. Class A office building lo-cated at 1001 East Hector St. secured a new 20,161 s/f lease for Monetate.Brad Speigal of Skyline Commercial repre-sented Monetate. n

Binswanger arranges multiple leases

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MAREjournal.com Mid Atlantic Real Estate Journal — Pennsylvania — November 11 - �4, �011 — �C

Pennsylvania

Fa i r f i e l d I n n a n d S u i t e sBa l t i mo re , MD

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USQUEHANNA, PA — Keystone Wireless, LLC has purchased the office

building at 2574 Interstate Dr. in Susquehanna Township for $550,000 from Exelon Energy. Keystone Wireless plans to ren-ovate the building and utilitize it as their network operations center to serve their wireless network in north eastern and north central Pennsylvania. Daniel J. Alderman and Joseph A. Bedard of NAI CIR brokered the sale.

Menlo Logistics, Inc, a global third party logistics and supply chain solutions company, is opening an additional location in 201,600 s/f of warehouse space at 6111 Grayson Rd., Swatara Twp. Bill Gladstone of NAI CIR along with Steve Shields of Transportation Prop-erty Co., represented Menlo, in the transaction.

Parts Now! LLC will open an additional location in 21,428 s/f of space it has leased at 1451 Stoneridge Dr., Lower Swatara Twp. Ida McMurray of NAI CIR represented the landlord, Barry Pagliaro, in the transaction

K & J, LLC is leasing 4,100 s/f of commercial space for a convenience store at 7800 Linglestown Road, West Ha-

Gladstone leases �01,600 s/f warehouse space

NAI CIR brokers $550,000 office building saleS

nover Twp. Fahd Malik of the Bill Gladstone Group of NAI CIR represented the landlord, Triple K Fleet Service, in the transaction

Mattress Depot has leased 3,200 s/f of space at 470 Eisen-hower Dr., Hanover. Nathan Kranz and Nik Sgagias, both of NAI CIR, represented the landlord, Scotto Malvone, LLC, in the transaction.

Lori Nornhold has leased 2,100 s/f of retail space at 5939 Linglestown Rd., Lower Paxton Twp for a consignment shop. Fahd Malik of the Bill Gladstone Group of NAI CIR represented the landlords, Dan and Linda Snow, in the transaction.

Kings Asset Managers, LLC has leased the entire building

at 205 State St. consisting of 2,433 s/f of office space, Har-risburg. James D. Ross of NAI CIR represented the landlord, M Three Properties, in the transaction.

Donald Nelson McClure PC, a CPA firm, will relocate into 462 s/f of space it has leased at 4076 Market St., Hampden Twp. David Rudy of The Gladstone Group of NAI CIR represented the landlord, 4076 Market St., LLC, and Ida McMurray of NAI CIR represented the firm.

O-Boys, Inc. will expand the parking for DiSalvo’s Restau-rant on land it purchased at 369 Penn St., Williamsport across from the restaurant on Fourth Street. James D. Ross of NAI CIR represented the seller, Comcast of Southeast PA, LLC, in the transaction. n

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

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ILKES-BARRE, PA—Mericle Commercial Real Estate Services

has recently leased a total of 211,000 s/f with the following transactions listed.

CaremarkPCS, LLC, has ex-tended their lease to 2026 for the 160,000 s/f building it leas-es from Mericle at One Great Valley Boulevard in Hanover Crossings, Hanover Town-ship. CVS Caremark plans to expand its mail service pharmacy within the building. The facility, which originally opened in October, 2000, was started as a Mericle specula-tive project, then redesigned and constructed by Mericle to the exact specifi cations of mail service pharmacy. Real estate brokers Harry Thomes and Jo-seph Fetterman of Jones Lang LaSalle’s Philadelphia offi ce represented CVS Caremark during lease negotiations and coordinated the transaction with Mericle Vice President Jim Hilsher.

C3i, a leading provider of technology enablement and Business Process Outsourcing services for the life sciences industry, has leased approxi-mately 41,000 s/f of fl ex space from Mericle Commercial Real

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

Mericle announces 211,000 s/f total lease transactions

C3i, 240 Armstrong Road

Estate Services at 240 Arm-strong Road in CenterPoint Commerce & Trade Park East, Jenkins Township, Luzerne County.

The 92,400 s/f facility re-cently constructed on specula-tion by Mericle in the Phase I section of CenterPoint. Mericle Vice President Bob Besecker coordinated lease negotia-tions. C3i was represented by John Susanin of SSH Real Estate, Radnor, Pennsylvania and Alex Jinishian of Col-liers International, New York City.

Bath Fitter, has relocated its local office, showroom,

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

W

PEN ARGYL, PA — Michael Baxter & Associates Commer-cial Real Estate & Property Management has leased 51,660 s/f of warehouse/distribution space located at 636 Pen Argyl Ave., Pen Argyl, PA.

Dan Perich, CCIM and As-sociate Broker worked with the tenant, Forza Boxing, LLC and the landlord, Scotty’s Fashion Cutting, Inc. was represented by Joseph Baxter and Michael C. Baxter. ■

Michael Baxter & Associates leases 51,660 s/f

636 Pen Argyl Ave

4C — November 11 - 24, 2011 — Pennsylvania — Mid Atlantic Real Estate Journal MAREjournal.com

PENNSYLVANIA


PENNSYLVANIA

ARRISBURG, PA —Shadow Canyon Family Partners has sold its

104,502 s/f packaging facility lo-cated on a 4.4 acre tract at 2715 N. 7th St., Harrisburg, Dauphin County, Pennsylvania to Robin Ellen Realty. James W. Brady, SIOR of Landmark Commercial Realty, Inc. represented the seller and Dick Kleiman of NAI CIR represented the buyer.

National Governmental Ser-vices has leased an additional 12,000 s/f of office space at 2400 Thea Dr., Harrisburg, Susquehanna Township, Dau-phin County, Pennsylvania. Thomas T. Posavec, SIOR of Landmark Commercial Realty, Inc./ONCOR International rep-resented the Landlord, DST Health Solutions LLC, in the lease negotiations.

Champion Window Company has recently leased 8,000 s/f of flex space at 7917 Derry St., Harrisburg, Swatara Township, Dauphin County, Pennsylvania. Roy H. Brenner of Landmark Commercial Realty, Inc./ON-COR International negotiated the long term lease on behalf of the tenant and Julie Trogner of Jones Lang LaSalle represented the landlord, DP Partners Derry Street I, LLC.

Market Mart Inc. has leased 2,250 s/f. in the Olde Towne Commons at 400 Bridge St., New Cumberland, Cumberland County, Pennsylvania.

This convenience store will be located in the Heart of Down-town New Cumberland. An-drew Kohr of Landmark Com-mercial Realty, Inc./ONCOR International represented the landlord.

Utility Solutions of PA has leased 1,711 s/f of offi ce space located at 2300 Vartan Way, Harrisburg, Dauphin Coun-ty, Pennsylvania. Thomas T. Posavec, SIOR of Landmark Commercial Realty, Inc./ON-COR International represented both the tenant and the land-lord, the Vartan Group, in the lease negotiations.

Everence Financial Advi-sors has leased 1,700 s/f of offi ce space at 1 Kacey Court, Mechanicsburg, Upper Allen Township, Cumberland County, Pennsylvania. Roy H. Brenner of Landmark Commercial Re-alty, Inc./ONCOR International negotiated the lease on behalf of the tenant and the ownership.

General Services Administra-tion has leased 1,251 s/f of offi ce space located at 2300 Vartan

Trogner of JLL reps 8,000 s/f

Landmark Comm’l Realty brokers 104,502 s/f facilityH

2715 N. 7th Street

Way, Harrisburg, Dauphin County, Pennsylvania. Thomas T. Posavec, SIOR and Roy H. Brenner of Landmark Com-mercial Realty, Inc./ONCOR International represented both the tenant and the landlord, the Vartan Group, in the long term lease negotiations.

Element Creative Media

Group has leased 880 s/f of offi ce space at 20 Erford Rd., Lemoyne, Cumberland County, Pennsylva-nia. Andrew Kohr and Thomas T. Posavec, SIOR of Landmark Commercial Realty, Inc./ON-COR International negotiated the lease terms between the landlord, Linlo Properties and the tenant. ■

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he increasing activ-ity over the summer months resulted in

positive ab-sorption in t h e t h i r d quarter and brought year to date ab-sorption to 750,000 s/f. Overall in-dustrial va-cancy stands at 9.5% with Class A vacancy at a miniscule 6.3% with only 1,800,000 s/f available; mostly in incre-ments of 50,000 to 120,000 s/f. While the European debt crisis dominated the national economic headlines, on a local level, numerous significant transactions were completed with Pittsburgh based com-panies.

In the Northwest Sub-market, UPMC continued its growth with a lease of a free standing 148,000 s/f ware-house in the Thorn Hill Indus-trial Park. In the Tri County

By Louis V. Oliva, Grubb & Ellis Company

“Positive Signs Continue” T Commerce Park, Mitsubishi

Electric Power Products con-tinued its expansion. As a result, The Buncher Company should start the expansion of its last building in that project in 2012. Buncher also made significant progress at its new Butler County project, Jackson Pointe Commerce Park, with the construction of its first warehouse sized at 69,000 s/f. This building should be available for the first quarter 2012. At the Leetsdale Industrial Park, two smaller transactions have resulted in 100% occupancy within that project’s light industrial/warehouse space inventory.

In the West submarket, ModCloth, a fast growing internet based clothing dis-tributor leased 146,000 s/f at 2250 Roswell Drive. The transaction is a consolida-tion of their offi ce space and expansion of their warehouse operations into one building. This long term lease is one

of the largest transactions of the year. At the Clinton Commerce Center, American Tire Distributors expanded into the remaining vacancy in that building completing the 400,000 s/f project. At the Findlay Industrial Park at Westport, Alro Steel is nearing completion of their 100,000 s/f steel service center and the extension of Solar Drive will begin in November to bring another 225 acres into service in the spring of 2012. At the McClaren Woods Business Park, the Elmhurst Group announced the last building of 130,000 s/f will be completed in 2012. Lastly, the 90,000 s/f speculative warehouse at 4801 Grand Avenue completed its fi rst transaction with S-L Distribution and current activity could result in 100% occupancy by year end.

In the Northeast submar-ket, two signifi cant transac-tions occurred. Dynamics, Inc, a fast growing Pittsburgh based technology company ac-

WESTERN PA6C — November 11 - 24, 2011 — Pennsylvania — Mid Atlantic Real Estate Journal MAREjournal.com

quired the 115,000 s/f Harmar Manor and the neighboring 540,000 s/f warehouse at 460 Nixon Road completed two transactions including a 70,000 s/f lease to Sampco and a 155,000 s/f lease to the US Postal Service.

As we enter into the fourth quarter, two signifi cant na-tional and international ques-tions remain. Will the Eu-ropean Union come up with a defi nitive recapitalization plan and will the US Congress agree on a defi nitive plan to reduce the national defi cit? The European issue will have a signifi cant impact on global companies, some of which are based in Pittsburgh including PPG, Heinz, Bayer and Al-legheny Technologies. Clearly, growth in the Pittsburgh Industrial Market is more closely levered to the latter as the debt reduction plan will have an impact on consumer confidence, business confi-dence and banking. As most of the industrial occupiers in our

market are local and regional in nature, a positive outcome is essential to continue the low growth recovery.

As predicted earlier this year, the dearth of specula-tive construction in 2010-2011, coupled with a return to normal historical absorption levels, has led to a sub 10% vacancy market wide and dan-gerously low mid single digits of Class A product. While our market has not returned to the growth of 2007-2008, it ap-pears we could be on our way to the sustainable levels of 2004-2006. If that is the case, we will need fi nancing for both build to suit and speculative construction in 2012 or face the risk of not accommodat-ing growth of industrial oc-cupiers.

Louis V. Oliva, CCIM, SIOR is a Senior Vice Presi-dent of the Pittsburgh offi ce of Grubb & Ellis Company and leads the Industrial Property Team. ■

Louis V. Oliva

PITTSBURG, PA — Car-rie S. Holstead, President of Carrie S. Holstead Real Estate Consultants, Inc., has negotiated a multi-million dollar offi ce lease on behalf of The HDH Group. This is the second time The HDH Group has enlisted Holstead to pro-vide tenant representation services. The new lease will move the insurance and risk brokerage company headquar-ters from U.S. Steel Tower to the recently renovated K&L Gates Center in Pittsburgh’s cultural district.

HDH leased approximately 18,300 s/f on the entire 30th fl oor which features panoramic views of downtown Pittsburgh and the Pirates baseball sta-dium across the river. They will take occupancy October of 2012. K&L

Gates Center is owned by Kojaian Companies and the landlord is represented by Ja-son Stewart of Grubb & Ellis Company.

The transaction followed the successful negotiation of a favorable termination agreement of HDH’s lease at U.S. Steel Tower, prompted by theupcoming expansion of UPMC in the building. Hol-stead’s concurrent search for a new offi ce initially included a comprehensive analysis of all leasing options as well as an extensive tour of viable avail-abilities and detailed fi nancial analysis and comparison of lease proposals.

“As a solid foundation for fi -nalizing this transaction in an ever-tightening offi ce market in which multiple companies were looking at this highly de-sirable fl oor, a letter of intent was negotiated outlining the business terms to which both parties were committed,” says Holstead. “Everyone worked hard and moved quickly to subsequently negotiate a com-prehensive lease agreement.”

“Carrie Holstead took total responsibility for the proj-

ect and was verypro-active throughout the entire pro-cess,” explains Bryan C. Hon-dru, Chairman of The HDH Group. “Her keen understand-ing of the corporate real estate market meant we had great access to the available space around Pittsburgh. We toured nine or ten locations in two days, and Carrie did a great job with the RFP from our top choices.” Adds Hondru: “Then she became even more pro-active during negotiations of the lease and its terms. She was very successful and got everything we wanted.”

Carries S. Holstead, Presi-dent of Carrie S. Holstead Real Estate Consultants, Inc., has spent twenty-fi ve years work-ing in corporate real estate. As founder of Carrie S. Holstead Real Estate Consultants, Inc. in 1989, she is a leader in tenant representation and owns the longest established tenant representation fi rm in Pittsburgh. ■

Carrie S. Holstead RE negotiates multi-million dollar lease

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

TARENTUM, Pa. — John Harrocks has joined the Taren-tum (Pittsburgh) offi ce of R.A. Smith Na-tional — civil engineering, survey ing , l a n d s c a p e architecture, geographic i n f o r m a -tion systems (GIS) and 3D visualization consultants — as a survey technician.

Harrocks has more than

Harrocks Joins R.A. Smith National’s Tarentum Offi ce

eight years of experience as a survey technician and survey crew chief, completing ALTA/ACSM Land Title Surveys; boundary surveys; topographic surveys; residential, com-mercial and federal highway surveys; construction staking; and platting and staking of gas and oil wells.

Harrocks has a bachelor’s degree in environmental stud-ies and geography from Edin-boro University of Pennsyl-vania. He lives in Aspinwall, Pennsylvania. ■

John Harrocks

IBC Sales was represented by John Bilyak CCIM, Prin-cipal & Director of Indus-trial Brokerage, Ralph Eger-man, Principal, and Raymond Orowetz P.E., Associate of Colliers International | Pitts-burgh. The purchaser was unrepresented.

Colliers International | Pittsburgh also announces the lease of 220 North High-

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

Colliers International | Pittsburgh orchestrates two leases

PITTSBURGH, PA — Sun-Connect, a leading Pittsburgh-based developer and technol-ogy provider of photovoltaic (PV) arrays, recently signed an agreement with Macy’s to design and install a 1.063-megawatt solar power gen-eration system at the retailer’s Raritan, New Jersey distribu-tion center.

“Macy’s is a highly experi-enced buyer of solar power, and immediately saw the obvi-ous value in the SunConnect model and our technologies,” commented Gary Kassem, President of SunConnect.

Work on the project com-menced at the beginning of September, and the entire system will be operational and online in December of 2011. When complete, the system

will provide 70% of the total power needed to support the facility’s operations. The sys-tem is being co-developed with Enfi nity Corporation, which is also the PPA provider on the project.

The project will incorporate SunConnect’s proprietary, Clearview Racking System, a breakthrough support struc-ture for PV panels that allows quick and easy access to under-lying roof surfaces. The only racking system in the industry to be listed by Underwriters Laboratories, Inc. (UL), the Clearview Racking System is constructed of extruded alumi-num and stainless steel, is not susceptible to corrosion, and has a projected lifespan of 40 years – a timeframe equal to that of most PV arrays. ■

SunConnect signs agreement with Macy’s to develop PV system

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

Berger-Epstein Asso., Inc.: Offi ce, Eastern PA ........................................................8B

Brasler Properties: Industrial, Eastern PA ..............................................................9B

Classic Properties: Industrial, N. Eastern PA ..........................................................14B

Dietrick Group, LLC: Offi ce, Eastern PA .................................................................8B

Fox Realty Consultants: Offi ce, Eastern PA ............................................................10B

Frederick Group: Offi ce & Retail, Eastern PA .........................................................14B

Griffi n Land: Industrial, Eastern PA, Lehigh Valley ................................................10B

Hawley Realty: Commercial Investment, Eastern PA .............................................8B

Hinerfeld Comm’l Real Estate: Industrial, N. Eastern PA ......................................13B

Liberty Property Trust: Industrial/Distribution, Eastern PA .................................12B

Lebanon Valley E.D.C: Industrial/Business Park Acreage, Central PA ..................14B

PennCap Properties: Offi ce, Eastern PA ..................................................................11B

Principal Investment: Offi ce, Eastern PA ................................................................10B

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

DIETRICK GROUP, LLC

RESIDENTIAL LAND

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

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WAREHOUSE SPACE


PA’S PREMIER AVAILABLE PROPERTIES

FOUR COMMERCIAL/INVESTMENT PROPERTIES3910 Adler Place, Bethlehem, PA

·Up to 42,108 s/f available ·First & Second floor suites ·Tastefully appointed lobby ·ADA compliant

·On-site parking ·Lease Terms Offered

881 Third St. Whitehall, PA

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

·Sale Terms Offered

920-32 S. Lumber St. Allentown, PA

·11,390 s/f building ·1,500-5,000 s/f available ·Masonry block steel frame ·Onsite and street parking

·ADA compliant, elevator ·Lease Terms Offered

16th & Allen Streets, Allentown, PA

·1,200 & 1,800 s/f available ·ADA Compliant ·On-site parking ·Gas heat, seperate utility meter ·Within 1/2

mi of Rt. 22 15th St. ·Lease & Sale Terms Offered



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

CONSTRUCTION UNDERWAY!

CBRE Inc. | 1275 Glenlivet Drive, Suite 120 | Allentown, PA 18106 | T.610.398.6900 | F.610.398.7815

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

EASTERN PA-INDUSTRIAL EASTERN PA-OFFICE

EASTERN PA- OFFICE

Contact: Don Frederick, Associate Broker Phone: 610-841-4235

[email protected] Winchester Rd Suite 201 Allentown, PA 18104

www.tfgrealtors.com

2,800 SF OFFICE SPACE

COMMERCIAL •OFFICE •INDUSTRIAL •RETAIL •SALES/LEASING

241 Cedar Crest Blvd. Allentown, PA3500 Winchester Rd. Allentown, PA

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

8,228 SF OFFICE SPACE

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

Features•Private offices/ Conference rooms•Reception area/ Kitchen &breakroom area•Underground spaces available for a fee

Features•Wheel chair accessible•Already set up for a professional office•Ground level floor with street access

PRIME LOCATION“A Day at the Office”


Please join us for aHOLIDAY OPEN HOUSEand see Philadelphia’s most creative & affordablespace for your business - The Callowhill Center.

Catering & open bar by JD McGuillicuddy’s.Surprise celebrity guest appearance. Networking. Gifts & Prizes for all.

Where:The Callowhill Center421 N. 7th St., 5th fl.Philadelphia, PA

When:Thursday, Dec. 15th5:00pm – 7:30pm

RSVP:[email protected]

The Callowhill Center has great views.But that’s the least of what we have to offer.


559 Main Street, Suite 300 Bethlehem, PA 18018

Phone: 610•332•1100 Fax: 610•332•1111 www.penncapproperties.com

57 S. Commerce WayBethlehem, PA 18017

6,830 SF•3,170 SF

1525 Valley Center ParkwayBethlehem, PA 18017

2,635 SF•2,806 SF7,917 SF•7,345 SF

2041 Avenue CBethlehem, PA 18017

4,800 SF


5,218 SF

3701 Corp. ParkwayCenter Valley, PA 18035

6,738 SF•4,996 SF

964 Marcon Blvd.Allentown, PA 18109

7,800 SF•4,800 SF

2201 Hangar PlaceAllentown, PA 181096,410 SF—12,820 SF

7277 William Ave.Allentown, PA 18106

12,000 SF


3,760 SF•5,190 SF

83 S. Commerce WayBethlehem, PA 18017

5,425 SF•1,736 SF

754 Roble RoadAllentown, PA 18109

4,800 SF•9,600 SF

FEATURED PROPERTY1495 Valley Center Parkway

Bethlehem, PA 180173,569 SF • 10,740 SF

Exceptional commercial real estate solutions and services for businesses

who demand more for their space.


Troy F. Briggs. CCIM, CPM® - Cell: 610.633.7273/[email protected] Lynn Conti - Cell: 610.883.2233/[email protected]

74 W. Broad Street, Suite 530, Bethlehem, PA 18018 Main Office Phone: 610.867.9100 Fax: 610.997.6651

Green Advantage® Certified Practitioners

LEHIGH VALLEY INDUSTRIAL PARK VII- COMMERCE CENTER BLVD1.2 MILLION SQUARE FOOT CLASS A DISTRIBUTION FACILITY

Providing Real Estate Solutions in the Lehigh Valley for OVER 30 Years…and committed to serving our

Communities for the NEXT 30 Years!

ONE OF OUR NEWEST PROJECTS UNDER CONSTRUCTION:

CONTACT US FOR MORE INFORMATION:


130 subdividable acres with full utility services, rail access

and strategic location.

90 subdividable acres with full utility services,

and strategic location.

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

50 acres remaining in parcels with full utility services in a nearly

sold out business park.

CENTRAL PA- INDUSTRIAL/BUSINESS PARK ACREAGE

EASTERN PA- OFFICE & RETAILNORTH EASTERN PA- INDUSTRIAL/LAND



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

200,000 SF on 32 developable acresCentrally located- access to major highways and rail

Davis St, Moosic

Located between two major metro regions

5 miles to Wilkes-Barre/Scranton Airport

Former Mckinney Manufacturing

For more information Contact Steve Farrell at 570.587.7000, ext 1102


PENNSYLVANIA

L L E N T O W N , PA — Michael Adams of NAI Summit recently

represented the owner of 5001 Crack-ersport Road in Allentown, PA in leas-ing 104,400 s/f of ware-house space to Coll Ma-terials, LLC; it is a 7 year lease worth $2.6 million. Coll Materials is a post-industrial and post-consumer plastic re-cycling company based out of Ohio and serves all of North America.

In addition Michael Ad-ams of NAI Summit recently leased over 34,000 square feet of space in two separate trans-actions. In the fi rst transac-tion, Adams represented the tenant, Beck Packaging, in negotiating a lease renewal for 28,800 SF of warehouse space at 200 Cascade Drive, Lehigh Valley Industrial Park II in Allentown, PA. Beck plans to use the build-ing for distribution and to house packaging materials.

In the second transaction, Adams represented the ten-ant, Orthopaedic Associates of Allentown (OAA), in leas-ing 5,855 SF of offi ce space at 2901 Emrick Blvd. in Beth-lehem, PA. OAA is a medical provider focused exclusively on orthopaedic care.

Michael Adams of NAI Summit also recently repre-sented HAF Inc. in leasing 1,923 s/f of office space at 5018 Medical Center Circle, Allentown, PA.

The tenant is Dr. Amir

A

Adams of NAI Summit reps 215,323 s/f

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

Katz. Adams also represented Dr. Katz in the lease.

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

Michael Adams

5001 Crackersport Road

Geotechnical Engineers & Geologists

EARTH

Corporate Headquarters: 610.277.0880

www.earthengineering.com

Environmental Site Assessments and Remediation

Construction Inspection & Testing

Subsurface Investigations

Stormwater Infiltration Testing

Retaining Wall Design

Laboratory Soils Testing

Clean Fill Testing

South Jersey: 856.768.1001 Central PA: 717.697.5701

Lehigh Valley: 610.967.4540

ENGINEERINGINCORPORATED

Carbonate Site Assessments

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

- 345 - 7002

Bruce W. Kranz | Senior Vice President6000 Freedom Square Drive Suite 400 | Cleveland, OH 44131

| P: 216-674-2443 | C: 216-906-8898

| [email protected] | www.hylantenvironmental.com

ENVIRONMENTAL INSURANCE SERVICES FOR:

• Mergers & Acquisition • Contaminated Properties

• Environmental Contractors and Consultants• Brownfield Redevelopment

• Real Estate Investment Portfolios• Industrial and Manufacturing Facilities

• Protection for Third Party Claims and Undiscovered Contamination

Hylant EnvironmentalRisk Management

PENNSYLVANIA


ORK, PA —ROCK Commercial Real Es-tate represented the

transactions listed below: Members 1st Federal Credit

Union bought 2.60 acres of commercial land at 4000 Car-lisle Road in Dover, PA. ROCK Commercial Real Estate rep-resented the seller in this transaction.

Hobby Lobby Stores, Inc. leased 55,000 square feet of re-tail space at Gateway Hanover Shopping Center in Hanover, PA. ROCK Commercial Real Estate, LLC represented the landlord in this transaction.

Voisard Manufacturing, Inc. leased 70,000 s/f of industrial space at 3635 Mia Brae Drive in York, PA. ROCK Commer-cial Real Estate, LLC repre-

sented the landlord and the tenant in this transaction.

H & M Mobile Home Re-modelers leased 6,985 s/f of industrial space at 140 South

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

Leases totaling over 130,000 s/f

ROCK Commercial leases 70,000 s/f industrial Space

WEST CHESTER, PA – Rep-resenting the owner, Park Val-ley Associates, Steve Italiano, senior vice president of in-dustrial and offi ce properties at CBRE, Inc., successfully brokered the sale of a 10,000 s/f light industrial/fl ex/offi ce space unit at Park Valley Cor-porate Center in West Chester, PA. Unit 5, 1157 Phoenixville Pike in West Goshen Town-ship, Chester County, is now home to Illuminations Inc., a manufacturer’s representative selling world class industrial commercial lighting products. Illuminations was represented by Frank Englund of First Lib-erty Partners and is moving to West Chester from its prior headquarters in Edgemont, Delaware County, PA.

Illuminations Inc. chose Park Valley to expand its operations because of the cor-porate center’s high image, park-like setting near major highways. It is also the type

of work environment the com-pany wants their employees to experience.

This represents the fourth fl ex condo CBRE has sold in the past year at Park Valley, totaling over 25,000 s.f. There

CBRE brokers 10,000 s/f of Flex space

YORK, PA —Coldwel l Banker Commercial Bennett Williams has arranged the sale/lease of the following transactions:

1,100 s/f of retail space at Jim & Nena’s Plaza at 2755 West Market St. in York. Soho Computer Services leased the space for 1 year from Mary Mulay. Chad Stine & Brad Rohrbaugh of Bennett Wil-liams represented both the landlord and the tenant in the transaction.

500 s/f of retail space at Market Square Shopping Cen-ter at 589 South Main St. in Shrewsbury. American Built Arms Company, LLC leased the space for 1 year from Shrewsbury, LP. Chad Stine & Brad Rohrbaugh of Ben-nett Williams represented the landlord in the transaction.

4,108 s/f of retail space at Kingston Square at 2500 Eastern Blvd. in York. Premier Rental Purchase leased the space for 5 years from Kings-ton Fixed Income Fund, LP. Chad Stine & Brad Rohrbaugh of Bennett Williams represent-ed both the landlord and the tenant in the transaction.

1,350 s/f of retail space at Cape Horn Square at 693 Lombard Rd. in Red Lion.

Liberty Tax leased the space for 28 months from Cape Horn Square Associates, LP. Chad Stine & Brad Rohrbaugh of Bennett Williams represented the landlord in the transac-tion.

1,000 s/f of retail space at State Street Plaza at 829 State St. in Lemoyne. Anna Marie Cross leased the space for 3 months from State Street Plaza Associates. Chad Stine, Brad Rohrbaugh and Adam Hagerman of Bennett Wil-liams represented both the landlord and the tenant in the transaction.

5,750 s/f of retail space at Wesley Drive Plaza at 1010 Wesley Drive in Mechanic-sburg. NEDC, LLC leased the space for 62 months from Diversified-Wesley Drive, LP. Chad Stine and Brad Rohrbaugh of Bennett Wil-liams represented the landlord in the transaction.

2,719 s/f of retail space at South Pointe Centre at 720 Quentin Rd. in Lebanon. Beau-ty Systems Group, LLC leased the space for 5 years from Downtown Lebanon Develop-ers, LLC. Chad Stine & Brad Rohrbaugh of Bennett Wil-liams represented the landlord in the transaction. ■

Y

Stine & Rohrbaugh broker 16,527 s/f

CBC Bennett Williams facilitates 5,750 s/f lease

3635 Mia Brae Drive

Wesley Drive Plaza

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

Park Valley Corporate Center

PHILADELPHIA, PA — There are four icons that are indelibly associated with South Philadelphia: The Eagles, The Phillies, “Rocky Balboa” and the newest South Philadelphia premier residential destination, Siena Place.

Living in a location that is home to many “champions” in business, sports, restaurants and a variety of organizations, the residents of Siena Place have one thing in common: the best in luxury townhome living, a superb location con-

venient to center city, the Jer-sey shorepoints, and all major highways.

Ideally located with respect to great Philadelphia sports & cultural facilities, restaurants, shopping, places of interest/at-tractions, museums, history - and more.

Siena Place itself is history-making as an exciting new choice in an established and desirable neighborhood. The community is at the heart of the vibrant Packer Park neighbor-hood and is a master-planned

community featuring, inviting, three story brick townhomes, with one-or two-car garages. These elegant townhomes are built around or adjacent to pre-served open green space.

“We are proud that Siena Place in South Philadelphia con-tinues to serve as an example of luxury, suburban-style living, just steps away from a mosaic of the most prominent cultural, dining, retailing, entertainment and sports venues in the entire region,” noted Victoria Teschner, director of marketing for Siena Place. ■

If “Rocky” came back, he’d live at Siena Place

IVYLAND, PA — Poet’s Walk, Judd Builder’s premier commu-nity in the Borough of Ivyland, has dramatically changed the residential landscape of this area. True to its name, Poet’s Walk embodies a distinctive homebuilding style that pays homage to the poetic mas-tery Dickenson, Wordsworth, Kipling, Browning and Em-erson. Each home is uniquely inspiring in its own right.

Judd is proud to introduce two new models at Poet’s Walk

this month. The Whitman and The Cambridge, each with exquisite architectural details and superior appointments, are the perfect addition to this stately community. The new fl oorplans will refl ect the same exterior character and signa-ture design of all the models at Poet’s Walk. By adapting the model’s size and attributes to fi t today’s lifestyle needs, the perfect balance has been met between luxury and afford-ability. ■

Judd Builder’s Premier Community


GARDNER DENVER FACILITY

LTOONA, PA – The Altoona-Blair County Development Corp.

(ABCD Corp.) is excited to welcome Blair County’s new-est business partner, Gardner Denver, Inc.’s Engineered Products Group to the heart of the I-99 Innovation Cor-ridor. Gardner Denver will locate into a new 70,000 s/f facility in Antis Township, Blair County, Pennsylvania to respond to its rapid growth in the natural gas industry. The facility will manufacture and remanufacture high pumps and will provide onsite service and parts distribution to its customers in the Marcellus Shale region. The $15 million project will create at least 40 new jobs within three years.

ABCD Corp., who through a special purpose entity, Blair County Development Corp. II, will serve as the owner/devel-oper on this project. Through

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

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

its partners, a strategic fi nanc-ing package was compiled to serve the best interest of all parties to include; First National Bank, the Pennsyl-vania Industrial Development Authority and the Common-wealth of Pennsylvania.

Through a competitive bid-ding process ABCD Corp. selected Al. Neyer, Inc. to serve as the design/build con-tractor on the construction of this project. Local contractors are serving as part of the construction team including Keller Engineers of Holliday-

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

Gardner Denver, Inc.

Project Developer: Altoona-Blair County Development Corp.Land Developer: Blair County Development Corp. IIDesign-Build Construction: Al. Neyer, Inc.Civil Engineer: Keller EngineersSite Work: Curry ExcavatingPaving: New EnterpriseTenant Representative: Fischer & Company

Project Team

CREW Lehigh Valley thanks its 2011 corporate sponsors:

Annual Partner/Main Sponsor

Fitzpatrick Lentz & Bubba

Liberty Property Trust

Tallman Hudders & Sorrentino

Contributor

Langan Engineering

Lafayette Ambassador Bank

NAI Summit

MKSD Architects

FriendBarry Isett & Associates

Berks Economic PartnershipHMK Insurance

KNBT - A Division of National Penn BankJG Petrucci, Inc.

North Star/PolarisThe Dietrick Group, LLC

ETHLEHEM, PA —More than 40 members and guests of CREW

LV PA enjoyed a pre-opening tour of St. Luke’s – Anderson Campus in Bethlehem Town-ship, located off the Freeman-sburg Avenue Exit of Route 33 north of I-78 .Built according to “green design” principals, the hospital is the fi rst “from the ground up” new hospital to be built in Pennsylvania in 40 years.

An early program sponsored by CREW LV featured found-ing-member Deborah Skeans, principal, Sperry Van Ness Imperial Realty, who explored the development potential of the 500 acres now owned by St. Luke’s Hospital & Health Network. The October 4th tour and presentation brought the discussion full circle as attend-ees toured the new hospital, part of the $200 million dollar fi rst phase of development of the campus which includes a new cancer center and medical offi ce building.

The JG Petrucci Company, of Asbury, NJ and Bethlehem, PA is the master developer of the site. Rosalin Petrucci, mar-keting director of JG Petrucci Company, is also a CREW charter member.

Hospital tours were led by Peter Polt, with JG Petrucci and David Green, with Iron Hill Construction. Lunch followed at the Courtyard by

Marriott, Bethlehem where the program continued with remarks by Darla Frack, vice president of Patient Care Services for St. Luke’s Hos-pital--Anderson Campus who discussed the mission and

vision of the hospital. Car-mine Cerminara, principal of Cerminara Architects, Hill-sborough, NJ, gave insights into the collaborative design process and the “greening” of a hospital. ■

Lehigh Valley Chapterwww.crewlehighvalley.org

Commercial Real Estate Women


2011 LEHIGH VALLEY BOARD OF DIRECTORS

PRESIDENT

TRACY YADUSH, RPANAI SUMMIT

PAST PRESIDENT

FRANCEE FULLER

BARRY ISETT & ASSOCIATES

PRESIDENT ELECT

TINA KISELA, SCSM,SCMD

THE PROMENADE SHOPS, AT SAUCON VALLEY

SECRETARY

CATHERINE (KATE) DURSO

FITZPATRICK LENTZ & BUBBA, P.C.

TREASURER

CYNTHIA MERRITT

BUCKNO LISICKY

& ASSOCIATES

CORRESPONDING SECRETARY

PAM MORRIS

LIBERTY PROPERTY TRUST

DIRECTORS-AT-LARGE

MAUREEN O’MEARA HMK INSURANCE

LYNN CONTI

LIBERTY PROPERTY TRUST

2011 COMMITTEE CHAIRS

SPONSORSHIP COMMITTEE

KATE HART

KNBT, A DIVISION OF NATIONAL PENN BANK

PROGRAMS COMMITTEE

JANE SCHIFF

THE FREDERICK GROUP

MEMBERSHIP COMMITTEE

MICHELE GLOWER, PH.D THE ADVISORY GROUP

COMMUNITY SERVICE COMMITTEE

JODY KING, CCIMNAI SUMMIT

PUBLICITY COMMITTEE

FRANCEE FULLER

BARRY ISETT & ASSOCIATES

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

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

Upcoming EventsNovember 16: Seventh Anniversary Annual Meeting, 11:30am, Lehigh Country Club

2319 S. Cedar Crest Blv.d, Allentown, PA MEMBERS ONLYDecember 8: Holiday Luncheon, 11:30am, Ben Franklin TechVentures, Lehigh University Mountaintop Campus

116 Research Drive, Bethlehem, PAFull details and reservations at the events page of http://www.crewlehighvalley.org

For membership information, please contact Dr. Michele Glower, The Advisory Group, [email protected]

B

St. Lukes Hospital, Anderson Campus

Carmine Cerminara (left), principal of Cerminara Architects who designed the hospital, answers questions during the tour

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

remarks

A presentation followed lunch

Guests return to the Courtyard by Marriott for lunch & the

program after the hospial tour. A shuttle provided transportation

between the two sites

610-398-4000

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

fitzpatrick Lentz & Bubbaattorneys at law

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

CREWLehigh Valley

4001 Schoolhouse Lane • Stabler Corporate Center • Center Valley, PA610-797-9000 • info@flblaw • www.FLBLaw.com

BEST PLACESPAto work in

Corporate, Business& Banking

Real Estate, Land Use& Development

Litigation

Estate Planning& Administrationof Estates and Trusts

Health Care

Employment Law

Bankruptcy

Elder Law

Family Law

BARRY ISETT & ASSOCIATES, INC.

Consulting Engineers & Surveyorswww.barryisett.com

Helping Clients Reach Real EstateDevelopment Goals Since 1977

Environmental Assessments • Condition Assessments

Surveys • Site Design • Permitting • Traffic StudiesHighway Design • Landscape Design • Structural Design

Mechanical, Electrical, Plumbing Design

Full - Service EngineersPA • NJ • MD

Contact Francee Fuller, Marketing Manager [email protected] 610-398-0904

COMMERCIAL & INDUSTRIAL RE

where YOUR STYLEcomes to life

Located one mile from I-78 on Route 22

Pam Richetta, General Manager

908-454-4715Shop PhillipsburgMall.com

A Pennsylvania Real Estate Investment Trust Property®

DesignPoint, Inc.Contract Interior Design & Purchasing FirmBethlehem, Pennsylvania T: 610.807.9670www.designpoint-interiors.com

AwardWinningInteriorDesign& SpacePlanning for•Corporate•Hospitality• Medical & Eldercare Facilities

Proud to SupportCREW Lehigh Valley

Interiors That Make a Difference

~Our clients satisfactionis the

Key to our success!

COMMERCIAL VALUATION

INGRAM REAL ESTATE GROUPSpecializing in Complex Valuations and Expert Testimony

John R. Ingram II, MAI MRICS, AICP, CTAPresident & CEO P: 610-798-9877 Email:[email protected] F: 610-798-9878

Michele Glower, Ph.D., [email protected]

GLOBAL OPERATIONS

Real Estate Sales, Appraisal & Property Management Real Estate Sales, Appraisal & Property Management

COMMERCIAL REAL ESTATE COMMERCIAL REAL ESTATE

If you would like to advertise in

the Mid Atlantic Real Estate Journal,

Please Contact:

Elaine Fanning, Publisher

800-584-1062 x 212 or

email Elaine at [email protected]

A t t e n t i o n C R E WLehigh Valley Members!!!


PEOPLE ON THE MOVE

20C — November 11 - 24, 2011 — Central Pennsylvania — Mid Atlantic Real Estate Journal MAREjournal.com

RINCETON, NJ —KSS Architects is excited to welcome four new staff

members to its growing team in Princeton and Philadel-phia.

Nicole E. Hollenbeck, LEED AP, an intern architect, brings more than four years of profes-sional experience in architec-ture. She is working with KSS’ industrial architecture group to design Teva Pharmaceuti-cals’ new 1-1.2 million square feet distribution center in Philadelphia. She received a Bachelor of Architecture from Philadelphia University.

Christina Marconi returned to KSS as an intern architect after interning with the fi rm last summer. She has interned in architecture and graphic design and has helped teach a summer design intensive pro-gram for high school students at the University of Penn-

sylvania. Marconi is working with KSS’ higher education architecture group to design a general classroom building at Virginia Commonwealth University. She holds a Master of Architecture and Bachelor of Arts in Architecture, Cum Laude, both from the Univer-sity of Pennsylvania.

Michael Kelly joined KSS as the fi rm’s operations manager. With three years of experi-ence in business operations and financial management, he coordinates team staffi ng,

develops projections, and over-sees AIA contracts for clients and consultants. Kelly holds a Bachelor of Communication from Rutgers, The State Uni-versity of New Jersey.

Alexis Baran joined KSS as the fi rm’s marketing coordina-tor. With previous experience in graphic design and advertis-ing, she works on proposal sub-missions, marketing presenta-tions and advertisements. She holds a Bachelor of Arts in Architecture from the Univer-sity of Pennsylvania. ■

Four new staff members to join growing team

Hollenbeck, Marconi, Kelly & Baran of KSS Architects

BUCKS COUNTY, PA –John VanLuvanee, Esquire and Marc D. Jonas, Esquire, land use at tor-neys in the law firm of Eastburn & Gray, P.C. were recent-ly selected for inclusion in The Best Lawyers in America® 2012.

Since its inception in 1983, Best Lawyers has become universally regarded as the defi nitive guide to legal excel-lence. Because Best Lawyers

is based on an exhaustive peer-review survey in which more than 41,000 leading

a t t o r n e y s cast almost 3.9 million votes on the legal abili-ties of other lawyers in their prac-tice areas,

and because lawyers are not required or al-lowed to pay a fee to be listed, inclusion in Best Lawyers is considered a singular honor. Corporate Counsel magazine has called Best Lawyers “the

most respected referral list of attorneys in practice.”

The tradition of excellence at the law fi rm of Eastburn & Gray, P.C. began over 130 years ago and continues today. With law offices in Doylestown, BucksCounty and Blue Bell, Montgomery County, Pennsylvania our experienced attorneys provide high quality legal services throughout Pennsylvania and New Jersey. As a full service fi rm, Eastburn & Gray attor-neys practice in many diverse areas of the law, enabling us to effectively meet the needs of all clients ■

VanLuvanee & Jonas of Eastburn & Gray selected for inclusion of Best Lawyers 2012

John VanLuvanee Marc D. Jonas

YORK, PA — First Capital Engineering, Inc. (FCE) will celebrate its 16th anniversary this month. Owners Ann Lu-ciani, CEO and John Luciani, PE, PLS, President, opened the company’s Market Street office doors in 1995. Since then, FCE has moved to their current offi ce location at 48 S. Richland Avenue.

When FCE fi rst started out, it was a strictly civil engineer-ing fi rm. Since then, the fi rm has grown to provide and specialize in, stormwater and wastewater treatment/design, land surveying services, con-struction inspection services, land planning, development and design.

“We are fortunate to have

such a great team of pro-fessionals who work so well together,” said Ann Luciani, “I’ve seen each of them grow professionally and personally, since they started.”

First Capital Engineering has developed a rapport with clients, who keep coming back to the fi rm for their services 16 years later.

“Ann and I started First Capital Engineering to not only offer professional ser-vices, but to give back to the community as a leader, and ul-timately leave a legacy in York County. We are grateful to all of our clients who continue to give us a chance to provide our services to them,” said John Luciani. ■

First Capital celebrates 16th anniversary

PITTSBURGH, PA — Col-liers International | Pitts-burgh will join the fight against breast cancer on Sat-urday, October 29 by partici-pating in the American Can-cer Society’s Making Strides Against Breast Cancer, a 5K non-competitive walk to be held on Pittsburgh’s North Shore.

2011 marks the second year that the American Cancer So-ciety will be hosting the event in Pittsburgh. In 1993, the fi rst Making Strides Against Breast Cancer walk was held in Boston; the organizers cre-ated the event to raise aware-ness and funds to win the fi ght against breast cancer.

The American Cancer Soci-ety is thrilled to fi nally bring this event to the Greater Pitts-burgh area.

Jessica Jarosz, Associate at Colliers International | Pitts-burgh, will lead the Colliers International | Pittsburgh team in the American Can-cer Society Making Strides Against Breast Cancer walk. As team leader, Jessica has recruited team members to participate or make donations

to help save lives from breast cancer. “Here in the Pittsburgh market, the American Can-cer Society, companies such as Colliers International | Pittsburgh, and thousands of cancer survivors and volun-teers are thrilled to be holding our very fi rst Making Strides Against Breast Cancer event,” said Jessica. “This will be a start to an annual event for Colliers International | Pitts-burgh to raise money for can-cer research. It is extremely important that we continue to be involved in our community and support a laudable cause. We are thrilled to take part in the 2nd Annual 5K Walk for American Cancer Society Making Strides Against Breast Cancer and hope to continue to exceed our Team Goal with our fundraising efforts.”

This year alone, more than 192,000 women and men will be told, “You have breast can-cer,” including 9,500 Pennsyl-vanians. While these statistics are staggering, the American Cancer Society offers hope. They are comprehensive in their scope of programs and services. ■

PENNSYLVANIA — ROCK Commercial Real Estate, LLC. has been named one of the Best Places to Work in PA for 2011. The awards program, cre-ated in 2000, is one of the fi rst statewide programs of its kind in the country. The program is a public/private partnership between Team Pennsylvania Foundation, the Pennsylvania Department of Community and Economic Development, the Pennsylvania State Coun-cil of the Society for Human Resource Management, and the Central Penn Business Journal.

This survey and awards program was designed to iden-tify, recognize and honor the best places to be employed in

Pennsylvania, benefiting the state’s economy, its workforce and businesses. Employers are categorized based upon the to-tal number of employees they have in the United States, 25 to 249 employees and 250 or more employees.

ROCK Commercial’s four partners feel it is the synergy, energy and concerted effort of the entire ROCK Team that made this achievement pos-sible. “We are so appreciative of all of the ROCK Team Members who are consistently caring, dedicated and engaged in cre-ating a great place to work and who provide exceptional service to our customers and clients,” stated Sandy Rotz, Partner, and Director of Operations.

Companies from across the state entered the two-part process to determine the 100 Best Places to Work in PA. The fi rst part of this process was evaluating each nominated company’s workplace policies, practices, philosophies, systems and demographics. This part of the process was worth approxi-mately 25% of the total evalua-tion. The second part consisted of an employee survey to mea-sure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top com-panies and the fi nal ranking. Best Companies Group man-aged the overall registration and survey process. ■

ROCK Commercial Awarded Best Places to Work in PA

P

Nicole Hollenbeck Christina MarconiMichael KellyAlexis Baran

Colliers International | Pittsburgh

Employees team up to make a difference

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

The Learning Centers, lo-

cated in 15 states, provide free tutoring to dyslexic chil-dren in kindergarten through high school. Children are eligible regardless of eco-nomic status, race, religion, or Masonic affi liation.

NAI Summit holds Jeans Day once a month and donates the monies raised to various causes and charities. ■

NAI Summit “Jeans Day for a Cause”

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

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

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

Call Today! 570.823.1100

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

250 Enterprise Way, Pittston TownshipCenterPoint Commerce & Trade Park West• 51.15 acre build-to-suit site• Can fit up to 507,600 SF • Fully graded, NPDES permit • 10-year property tax abatement

400-450 CenterPoint Blvd., Jenkins Twp.CenterPoint Commerce & Trade Park East• 99,200 SF to 198,400 SF available• 33’ to 36’7” ceilings • 26 loading doors, 1 drive-in• Multi-year property tax abatement

345 Enterprise Way, Pittston TownshipCenterPoint Commerce & Trade Park West• 108,939 SF flex space available• 30’ to 33’ ceilings• 14 loading doors, 1 drive-in door• Close to I-81 and I-476

Parcel 1, Keystone Avenue., Jenkins Twp.CenterPoint Commerce & Trade Park East• Graded, flat 7.89 acre site• Proposed 58,000 SF office• Permitted and approved • Close to I-81 and I-476

177-193 Research Drive, Jenkins Twp.CenterPoint Commerce & Trade Park East• Cleared and graded 6.35 acre site• Suitable for up to 57,600 SF • Good for industrial, flex or office use• Close to I-81 and I-476

275-287 CenterPoint Blvd., Jenkins Twp.CenterPoint Commerce & Trade Park East• 37,329 SF available• 33’4” to 36’8” ceilings • 6 loading doors• Abundant trailer storage

145-173 CenterPoint Blvd., Jenkins Twp.CenterPoint Commerce & Trade Park East• 14,112 SF available• 30’6” to 33’6” ceilings • 5 loading doors• Energy efficient T-bay lighting

201-221 Research Drive, Jenkins Twp.CenterPoint Commerce & Trade Park East• 21,085 SF available• 29’11” to 33’6” ceilings • 3 loading doors• 3,239 SF office space

240-258 Armstrong Road, Jenkins Twp.CenterPoint Commerce & Trade Park East• 16,844 SF available• 29’10” to 34’2” ceilings • 3 loading doors• Energy efficient T-bay lighting

169 CenterPoint Blvd., Jenkins Twp.CenterPoint Commerce & Trade Park East• 8,023 SF available• 30’6” to 33’6” ceilings • 1 loading door• 1,632 SF of office space

When getting your product to market every second counts. Unnecessary delays are a sure-fire way to lose customers– and money.

Mericle’s CenterPoint Commerce & Trade Park is practically delay proof. The park is less than one mile from I-81 and I-476.Plus, FedEx Ground, UPS and FedEx Express all have major facilities inside or adjacent to CenterPoint.

Great space in a great location with great overnight delivery companies. That’s CenterPoint.

195 Research Drive, Jenkins Twp.CenterPoint Commerce & Trade Park East• 6,631 SF to 13,659 SF available• 29’11” to 33’6” ceilings • 2 loading doors• Large parking areas

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11-11-11 Mid Atlantic Real Estate Journal