SHOPPING CENTERS Mid Atlantic REAL ESTATE JOURNAL Section B of the Mid Atlantic Real Estate Journal
One of the first to revitalize the Route 1 corridor in Howard County, MD
The Dolben Company completes the construction of $53m Smart Growth mixed-use development
J
ESSUP, MD — The principals of The Dolben Company, Inc., announced that construction on Mission Place is complete. Located at the junction of Washington Boulevard and Mission Road in Jessup, Mission Place is a $53 million Smart Growth mixeduse development with 262 apartment units and 23,555 s/f of retail space on a 6.5 acre parcel of land. The mixed use project is one of the first to revitalize the Route 1 corridor in Howard County. Mission
Place’s apartment homes are currently 93% leased. Signed retail tenants include a pharmacy and barber shop, with additional tenants to come in 2012. The unit mix is comprised of 101 one-bedroom/one-bath apartments that average 778 s/f, and 161 two-bedroom/twobathroom apartments that average 1,140 s/f. Unit amenities include full-sized washer/dryers, nine-foot ceilings, six-panel doors, and walk-in closets. Andrew K. Dolben, senior
JANUARY 27 - FEBRUARY 9, 2012
HI-LIGHTS NAI Commercial Partners, Inc. closes $149,000 sale NAI Commercial Partners, Inc. announced the sale of 13,000 s/f of commercial retail space on .54 +/- acres for a price of $149,000. See page 2B.
Azarian Realty Co. exclusive leasing & managing agent John M. Azarian, CSM, announced his company’s appointment as exclusive leasing and managing agent of the Washington Town Center. See page 3B.
Shopping Centers featuring Mid Atlantic ICSC Conference & Deal Making
ALSO INSIDE: ICSC ORGANIZATION PAGE ................................................4B BUSINESS CARD DIRECTORY ..............................................15B RETAIL BROKERAGE DIRECTORY ................................. 16-IBC
vice president, Development, noted, “We are very pleased to have completed construction on Mission Place. The property is leasing up ahead of projections, and we are delighted to be able to offer our residents an array of on-site services. Mission Place was developed by Dolben to meet the growing demand for apartment living in Howard County created in part by the thousands of jobs flowing into nearby Fort Meade under BRAC (Base Realignment and Closure).” ■
Mission Place
Crampsie represented the owner, First Star Bank
NAI Summit closes $6 million sale of 107,770 s/f retail space in PA ALLENTOWN, PA — John Crampsie, principal at NAI Summit, recently represented the owner in the sale of 107,770 s/f of retail space at 501 Cetronia Rd. The selling price was $6,430,000. T h e o w n - John Crampsie er, First Star Bank, is a community bank headquartered in Bethlehem, PA. The buyer, St. Luke’s Hospital and Health Network, is a multihospital system affiliated with over 1,200 doctors in the Lehigh Valley region. ■
501 Cetronia Road
Building relationships one story at a time. NAI Summit Property Management. Here’s Dr. Fogarty’s story: “My Partners kept complaining that they and their patients weren’t comfortable. The building was too cold in the winter and everyone was freezing. In addition to unhappy occupants, our energy costs were significantly increasing. We turned to our building’s property management team at NAI Summit for help. Because of their many years in the business and strong relationships with the area’s top vendors, NAI Summit recommended working with a local HVAC company to perform a total system assessment and energy audit. Results of the audit suggested some system modifications and upgrades with a price tag of $104,000.00 and a projected payback of 3.9 years. After NAI Summit provided us with all the tools to make an educated decision, we agreed to move ahead with the project. In the first year, our utility bills were reduced by $50,591.00; making payback possible in only 2 year’s time, and my partners were satisfied, comfortable and grateful.” – Dr. Kevin Fogarty, Managing Partner, Bethlehem Medical Arts, LP
Section B, 20 pages
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B Inside Cover — January 27 - February 9, 2012 — Shopping Centers — Mid
Atlantic Real Estate Journal
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Mid Atlantic Real Estate Journal — Shopping Centers — January 27 - February 9, 2012 — 1B
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B — January 27 - February 9, 2012 — Shopping Centers — Mid
Atlantic Real Estate Journal
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NAI Commercial Partners, Inc. closes $149,000 sale of retail space
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ANCASTER, PA — NAI Commercial Partners, Inc. of Lancaster announces the sale of 13,000 s/f of commercial retail space on .54 +/- acres located at 10 Eisenhower Boulevard ( p i c t u r e d Steve Clipman right) in Lancaster, for a price of $149,000. Steve Clipman of NAI Commercial Partners Inc and
Blake Gross of LMS Commercial Real Estate represented the seller Bernstein Family Irrevocable Trust and the Buyer PEC Group, LLC. n
Shopping Centers Real Estate Journal a section of the
Mid Atlantic Real Estate Journal
ROCK Commercial leases 5,332 s/f retail Space in York, PA YORK, PA – ROCK Commercial Real Estate ended 2011 with several retail leases, and helped two new retail storefronts open in York City. Beds to Go leased 3,200 s/f of retail space at 375-379 West Market Street in York. The grand opening took place on Friday, January 6th. ROCK Commercial Real Estate, LLC represented the landlord and the tenant in this transaction. Cheryl A. Mansberger, Inc. leased 1,092 s/f of retail storefront space at 48 West
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Philadelphia Street. The Cherie Anne retail store features a wide assortment of loose leaf teas and a tea bar, homespun fashions and custom-made jewelry. ROCK Commercial Real Estate, LLC represented the landlord and the tenant in this transaction. Ingres Morel and Yeraldin Mueses leased 1,040 s/f of retail space at 294 West Market Street in. ROCK Commercial Real Estate, LLC represented the landlord and the tenant in this transaction. n
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Rachel Rugman editor@marejournal.com
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Mid Atlantic Real Estate Journal — Shopping Centers — January 27 - February 9, 2012 — 3B
SHOPPING CENTERS
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For Washington Town Center
Azarian Realty Co. named exclusive leasing & managing agent
W
ASHINGTON, NJ — John M. Azarian, CSM, announced his c o m p a n y ’s appointment as exclusive leasing and managing agent of the Washington John Azarian Town Center, located at 273 Pascack Road, Washington Township, New Jersey 07676. Azarian Realty Co. was hired by the longtime, original owner of the property. The Washington Town Center is approximately 130,000 square feet and has vehicle parking for 500 with 38 tenants including Super A&P, Rite Aid, United States Post Office, Triplex Movie Theater, PNC Bank, and satellite stores such as Subway, Dairy Queen, etc. It was built in the early 1960’s and extensively renovated in 1998. The Washington Town Center is conveniently located in the heart of Bergen County on Pascack Road in close proximity to the Garden State Parkway and Route 17. It is the only shopping center in the area and has, as a customer base, over 90,000 people within two miles earning
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Washington Town Center an average household income of approximately $90,000. Twenty two thousand cars pass the site daily. Azarian Realty Co. is excited about its recent assignment as leasing and management agent of the Washington Town Center. Azarian Realty Co. plans to implement an aggressive leasing program in an effort to lease current vacancies in the shopping center, which range in size from 738 square feet to 6,981 square feet. “We have extensive experience throughout Northern
New Jersey where most of our properties are located. We are confident we will be able to lease the current vacancies at reasonable prices and manage the property efficiently and effectively,” says John M. Azarian, CSM, owner of Azarian Realty Co. Azarian Realty Co. and its parent company, The Azarian Group, L.L.C. currently own, manage and lease 20 income producing properties totaling over 1,000,000 square feet with more than 300 tenants throughout New Jersey and New York. ■
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Free standing 15,000sf retail building on 2.57 acres, up to 100 car parking, with large Two Panel Pylon sign. The building is clear span and column free. Serving: Hazlet, Keyport, Aberdeen and Holmdel. Ideal uses: Home Improvement, Fitness, Appliances, Day Care, Electronics, Party & Rentals, Golf, Liquor Store, Pools & Patio, Marine, Produce Market, Pet Supplies
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4B — January 27 - February 9, 2012 — Shopping Centers — Mid
Michael Kercheval President & CEO ICSC
David Henry ICSC Chairman
Atlantic Real Estate Journal
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Member of International Council of Shopping Centers John-david Franklin Adam Ifshin Director, Eastern Division www.icsc.org PA/DE/S.NJ
VP & Trustee
Larry M. Spott Director, DC/MD/N.VA
Susan Jones Director, S.VA
Northern NJ State Directors PA/DE/S.NJ: State Director John-david W. Franklin Steven Gartner MadisonH.Marquette Metro Commercial Real DC/MD/N.VA: Estate Larry M. Spott, CDP The Rappaport Companies Government Relations Committee Chair S.VA: Michael A. F. Mozzachio Susan Jones GrubbDevelopment & Ellis Chancellor Group Government Relations Committee Chair Alliance Co-Chair PA/DE/S.NJ: Edward A. Shriver, Jr. Ed Kochman Strada Kochman Consulting Services
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Operations Co-Chair DC/MD/N.VA: Lynda E. Benedetto, Thomas C. Barbuti Whiteford, Taylor and SCSM Preston LLPCo. Kravco Simon
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S.VA: Roger Rodriguez RetailR.Co-Chair Timmons Group Roy T. Perez-Daple Lowe’s Companies Alliance Co-Chair PA/DE/S.NJ: Next Generation Chair Russel Jenkins Eric S. PenneyInc. Zamias Services CentroDC/MD/N.VA: Properties Group Patricia Palumbo Klein Enterprises Idea S.VA: Exchange Matthew L. Lafler Program Planning ComCommercial Real mittee Co-Chair Estate Services Timothy Rubin Next Generation Chair PREIT PA/DE/SNJ: Jordan Claffey Idea Exchange Centro Properties Group Program Planning ComSNJ: LindseyCo-Chair C. Floyd mittee Thalhimer Brandon Famous DC/MD/N.VA: Fameco Jarett L. Parker Kimco Corporation
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Mid Atlantic Real Estate Journal — Shopping Centers — January 27 - February 9, 2012 — 5B
Zang, Taylor, Dougherty & Munley rep 1031 buyer
Shover, Gorman & Gorman rep seller
M&M broker the sale of 19,620 s/f retail center for $10.8m
Marcus & Millichap sell M&T Bank for $4.25m
FORESTVILLE, MD — Marcus & Millichap Real Estate Investment Services brokered the sale of a 19,620 s/f two-tenant shopping center fully leased by Walgreens and Sherwin-Williams. The center is located in the Washington, DC suburb of Forestville. The sales price is $10,880,000, which equates to $555 per s/f. Dean Zang and Mark Taylor, senior directors in the firm’s Washington, D.C. and Philadelphia offices, and Derrick Dougherty and Christopher Munley of the Philadelphia office, represented the seller and located the private out-of-market 1031 buyer. David Feldman, regional manager of Marcus & Millichap’s Washington, D.C. office, was the broker of record in the transaction. “This property provides the
Walgreens & Sherwin-Williams Shopping Center new owner with two easily managed, investment-grade credit tenants, both on longterm leases,” adds Taylor. “The financing that was available for this asset supported a low cap rate.” The property is located on 1.8 acres at 7000 and 7008 Marlboro Pike in Forestville. Sherwin-Williams Paints has
occupied the parcel of land since the mid-1980s. The Walgreens site was acquired by the developer from SherwinWilliams Paints and redeveloped into a new structure with Walgreens and Sherwin Williams Paints sharing a common wall. The property traded at approximately 98 percent of the asking price. ■
Dougherty of Metro Commercial leases 25,522 s/f to the Tile Shop KING OF PRUSSIA, PA — The Tile Shop is expanding the Philadelphia region, and Metro Commercial has completed a 25,522s/f lease for the tile and floor covering store in King of Prussia, PA . T h e Joesph Dougherty store will open this summer at 201 Allendale Road adjacent to Costco and will occupy the former Levitz Furniture. Metro Commercial’s Joe Dougherty represented The Tile Shop as the local broker in the high-profile transaction, along with Great Street Realty Partners of Chicago. “While the space has been vacant for some time since Levitz’s bankruptcy, it required a unique retailer to take this prime, well-located space in King of Prussia,” says Dougherty. “With the pending expansion of the mall right across the street, this spot will be at an incredibly prime cross-road of this market.” ■
M&T Bank ODENTON, MD — Marcus of the seller, a developer out of & Millichap Real Estate Invest- the Baltimore region. ment Services, announced the M&T Bank is located at Ansale of M&T Bank, a Single-Ten- napolis Road and Blair Drive ant Net-Leased property located in Odenton, Maryland. “There in Odenton, MD, according to is a strong demand for credit Spencer Yablon, Regional Man- tenants,” Shover said. “We were ager of the firm’s Philadelphia able to generate eight offers from office. The property, subject to across the country and ultimatea long-term ground lease with ly selected an all cash Buyer out M&T, commanded a sales price of Manhattan who offered a 6.61 of $4,025,000. percent capitalization rate. The Michael Shover, Tom Gorman, lack of quality inventory on the and Matthew P. Gorman invest- market coupled with the historic ment specialists in Marcus & low interest rate environment Millichap’s Philadelphia office, are two reasons we are seeing had the exclusive listing to capitalization rates compress,” market the property on behalf adds Shover. ■
Taylor Long Properties announce 10,000 s/f lease
Cosners Corner
The Tile Shop
FREDERICKSBURG, VA — Taylor Long Properties is pleased to announce the signing of a 10-year renewal lease between GLL BVK Properties, L.P., and Five Below, Inc., dba Five Below, for approximately 10,000 s/f of space at Cosners Corner, 9771 Jeff Davis Highway, Fredericksburg, VA. Ellen Long represented the landlord. Taylor Long Properties announced the signing of a 10-year lease between EDCO, LLC and JL Companies, Inc., dba Main Street Cabinets, for approximately 1,454 s/f of space at Hancock Village Shopping Center, Hancock Village Drive, Chesterfield, VA. Brian Bock represented the landlord.
Taylor Long Properties announced the signing of a 4year, 4-month lease between COOKS, LP and Peoples Income Tax, Inc., dba Peoples Income Tax, for approximately 1,000 s/f of space at Huguenot Place, 1520 Huguenot Road, Suite 111, Midlothian, VA. Brian Bock represented the landlord. Taylor Long Properties announced the signing of a 5year, 4-month lease between Towne Center Shoppes, LLC, and ACA Enterprises, LLC, dba Kabab Grille, for approximately 2,702 s/f of space at Towne Center Shoppes, 201 Towne Center West Boulevard, Suites 706 & 707, Henrico, VA. Clint Greene represented the tenant. ■
6B — January 27 - February 9, 2012 — Shopping Centers — Mid
Atlantic Real Estate Journal
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MID ATLANTIC ICSC By: Eli Loebenberg and Moshe Hildeshaim, Madison SPECS
Tax court ruling recommends cost segregation studies done by professionals
J
on Smith owns multiple commercial buildings. All have been either purchased or constructed over the last two years. Jon’s accountants recommend a cost segregation study on these buildEli Loebenberg ings as this will create additional cash flow and reduce his overall tax liability – allowing for what Jon does best – the purchasing of additional properties. Who should prepare these studies for Mr. Smith? Should
he hire a cost segregation expert? Can his accountant segregate the costs for him? Or perhaps Mr. Smith can do it himself. He knows all the costs associated with the buildings. Can he just use the “rule of thumb” approach and segregate the costs himself? My advice to Mr. Smith is to save himself a headache (and possible problems with the Department of Revenue) and hire an expert. He is better served hiring a qualified cost segregation firm to prepare the studies. It appears even the Department of Revenue agrees with this advice. It reached the same conclusion in the case
of Ronald Pearce and Daryl Pearce, Plaintiffs, v. Department of Revenue, State of Oregon, Defendant (Oregon State Tax Reporter). In Pearce vs. the Dept. of Revenue, the Plaintiffs owned properties that qualified for depreciation deductions under Federal and Oregon law. These properties are ordinarily depreciable on the 39-year schedule applicable to buildings. In order to distinguish the buildings from their related “tangible personal property,” such as equipment, furniture, and fixtures, which qualify for depreciation deductions on an accelerated schedule of between five to seven years, the Plain-
tiffs prepared their own costsegregation analysis of their properties. Although Plaintiffs had no special experience in applying the cost-segregation methodology, they believed that their analysis was proper because it followed the “‘rule of thumb’ approach,” which is based upon “a preparer’s ‘experience’ in a particular industry.” Plaintiffs used the results of their cost-segregation analysis including accelerated depreciation deductions, in their 2004 return. On August 4, 2009, and August 6, 2009, Defendant sent Plaintiffs Notices of Tax Deficiency. The tax deficiencies
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arose from Defendant’s denial of Plaintiffs 2004 cost-segregation analysis and Defendant’s consequent disallowance of Plaintiffs’ accelerated depreciation deductions. In a letter dated March 2, 2010 the Defendant upheld its denial of Plaintiffs cost-segregation analysis explaining that the “rule of thumb” approach that Plaintiffs used “should [be] viewed by the Department of Revenue with caution, since it lacks sufficient documentation to support its allocation of costs” and that Plaintiffs failed to substantiate their costs or prepare a timely analysis. Plaintiffs failed to satisfy their burden of proof in regards to accelerated depreciation through cost segregation. The IRS issued an Audit Technique Guide (ATG) to help guide their examiners when they encounter a return that uses cost segregated items for depreciation. The ATG instructs examiners to view the “rule of thumb” approach used by Plaintiffs with caution because the results are “based on a preparer’s ‘experience’ in a particular industry” and “[lack] of sufficient documentation to support its allocation of project costs.” Chapter three of the ATG states in part: “Despite the lack of specific requirements for preparing cost segregation studies, taxpayers still must substantiate their depreciation deductions and classifications of property. Substantiation using actual costs is generally preferable to the use of estimates. However, in situations where estimation is the only option, the methodology and the source of any cost data should be clearly documented. In addition, estimated costs should be reconciled back to actual costs or purchase price.” A “quality” cost segregation study is “both accurate and well documented.” A taxpayer’s estimated assumptions, based on guesses without supporting records, could not form the basis for acknowledgement of a plaintiff ’s claim. In the Pearce case, Plaintiffs used a “written inventory” to allocate values to fixtures and cabinets. Plaintiffs did not substantiate their cost allocation using actual costs. Instead, they merely used their own estimations or assumptions with no supporting records. In doing so, the Ronald and Daryl Pearce failed to clearly document the Continued on page 9B
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Mid Atlantic Real Estate Journal — Shopping Centers — January 27 - February 9, 2012 — 7B
MID ATLANTIC ICSC
8B — January 27 - February 9, 2012 — Shopping Centers — Mid
Atlantic Real Estate Journal
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Mid Atlantic Real Estate Journal — Shopping Centers — January 27 - February 9, 2012 — 9B
MID ATLANTIC ICSC Smith secures five locations for Redner’s Markets
Prime Sites Realty leases 50,000 s/f at the East Pointe Shopping Center
B
E N S A L E M , PA — Carlton Smith of Prime Sites Realty LLC secures 5 locations for Redner’s Markets. Carlton Smith of Prime Sites Realty, LLC, based in Wayne, PA, the exclusive Carlton Smith real estate broker since 1990 for Redner’s Markets, Inc. negotiated the following leases on behalf of Redner’s: BENSALEM, Bucks County, PA: Leased the former 48,000 s/f Pathmark at the Bensalem Square Shopping Center,
Tax Court Ruling. . . Continued from page 6B methodology and the source of any cost data. As such, they did not prove by the preponderance of the evidence that their cost segregation was appropriate. This case showed that while a property owner can prepare his own cost segregation study, he probably shouldn’t since the rules of a cost segregation study are many and cumbersome. While a do-it-yourself approach may work for retiling a bathroom or refinishing cabinets, when it comes to tax benefits, some things are best left to the experts. That’s why even most CPA firms refer their clients to cost segregation specialists. Eli S. Loebenberg, CPA, CEO of Madison SPECS LLC, has over 17 years of broad-based tax experience. Working with firms including Deloitte and Touche, KPMG, and Grant Thornton, Loebenberg is nationally recognized as an expert in cost segregation studies and has handled studies for clients including The New York Times, The Children’s Place, Reuters, BMW and Four Seasons Hotels. In 2006, Loebenberg partnered with Madison Commercial Real Estate Services to form Madison SPECS, LLC, providing expert cost segregation and fixed asset review services. Loebenberg has a Bachelor of Arts degree in Accounting and Business Administration from the University of Maryland, Baltimore County and is a licensed Certified Public Accountant through Maryland’s State Board of Public Accountancy. He is a member of the American Institute of Certified Public Accountants. ■
East Pointe Shopping Center
with the owner CW Bensalem Square LP. LIONVILLE, Chester County, PA: Leased the former 46,000 s.f Super Fresh at the Shops at Lionville Shopping Center, with the owner Lionville Station S.C. Associates. DUNDALK, Baltimore County, MD: Leased 50,000 s/f at the East Pointe Shopping Center with the owner Baltgem Development Corp which is under construction. MILFORD, Kent County, DE: Leased 48,000 s/f for a ground up supermarket at the Cypress Hall shopping center which is under construction with the owner Shawnee Farms, LLC
CAMDEN, Kent County DE: Leased 48,000 s/f for a ground up supermarket at the CR Plaza shopping center which is scheduled to break ground in February 2012 with the owner CR Plaza II, LLC Redner’s Warehouse Markets operates approx. 40 full service grocery stores offering services such as; in-store bakery, full-service deli, fresh produce, meat and seafood departments, along with frozen, dairy, health and beauty aids/non-foods and grocery departments. At full operating conditions, these stores will employ approximately 150 people in both full and parttime positions. ■
10B — January 27 - February 9, 2012 — Shopping Centers — Mid
Atlantic Real Estate Journal
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MID ATLANTIC ICSC +
18 million square feet ARIZONA Mesa Kohl’s McKellips Road & Recker Road 95,279 SF GLA Part of Falcon View Plaza w/ Fry’s Phoenix Freestanding Barnes & Noble 1035 N. Metro Pkwy. West & 28th Dr. Adjacent to Metro Center Mall 19,360 SF on 1.48 Acres Tolleson Freestanding Kmart West McDowell Road & North 86th Drive 86,479 SF GLA FLORIDA Gainsville Mixed Use – Grocery Store & Student Housing NW 13th St & University Avenue 1.74 Acres Over 27,500 SF Ground Floor Retail in Proposed 171,000 SF 6-Story Residential Bldg Fern Park Lowe’s Shopping Center 6735 Hwy. 17-92 & Fernwood Blvd. near Hwy. 436 129,085 SF GLA Proposed Retail Strip: 9,000 SF ILLINOIS Downers Grove Marshall’s at The Grove 75th St. & Lemont Rd. 400,000 SF GLA Anchor Space Available 43,264 SF Niles Golf Glen Mart (Outparcel) Golf Rd. & Dee Rd. Up to 12,000 SF Outlot, B-T-S INDIANA Evansville Evansville Shopping Center Morgan Ave. & Boeke Rd. Rural King, Dollar General 153,000 SF GLA Indianapolis Pendleton Plaza Pendleton Pike & Shadeland Ave. Kmart 134,797 SF GLA South Bend South Bend Shopping Center US Hwy. 20 & US Hwy. 31 112,900 SF GLA Anchor Space Available
RD
Management LLC
MICHIGAN Grand Blanc Vacant Land Holly Rd. & I-75 22 Acres For Sale Muskegon Muskegon Shopping Center Henry St. & Norton Ave. 187,000 SF GLA Anchor Space Available Port Huron Port Huron Shopping Center Howard St. & 24th St. Big Lots, Save-A-Lot, Family Dollar 118,000 SF GLA Anchor Space & Outlot Available Redford Redford Plaza Plymouth Rd. & Inkster Rd. CVS/114,865 SF GLA Anchor Space Available Saginaw Saginaw Square Tittabawasse Rd. & Bay Rd. Target, JoAnn Etc., Staples 94,891 SF GLA Anchor Space Available Sandusky Kmart Shopping Center M-19 & Gates Rd. 176,248 SF GLA Anchor Space Available Southgate Fort St. & Burns Ave. 60,800 SF GLA Freestanding / Redevelopment Opportunity MINNESOTA St. Paul Midway Shopping Center University Ave. & Snelling Ave. Rainbow Foods, Office Max, Walgreens 280,353 SF GLA Anchor Space Available 40,262 SF NEVADA Las Vegas Kmart Plaza E. Sahara Ave. & McLeod Dr. 127,754 SF GLA 10,945 SF Outbldg. Available NEW JERSEY Marlton (Evesham) Tri-Towne Plaza Route 70 & Plymouth Dr. Superfresh/176,519 SF GLA Anchor Space Available/Redevelopment Opportunity
Thomas G. Mirandi 212-265-6600 Ext. 239 Email: tmirandi@rdmanagement.com Fax: 212-459-9133
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Mid Atlantic Real Estate Journal — Shopping Centers — January 27 - February 9, 2012 — 11B
MID ATLANTIC ICSC +
200 retail projects NEW YORK Nanuet Home Depot Plaza Route 59 & Hutton Ave. Home Depot, Staples 250,000 SF GLA/Pad Available
PENNSYLVANIA Allentown Home Depot Plaza Lehigh St. & Route 78 220,000 SF GLA 9.82 Acres Available
Orangetown Orangeburg Commons Route 303 & Palisades Parkway Future Retail Development Anchor Space, In-Line Space & Pads Available Adjacent to Lowe’s
Carlisle Hanover Street (Route 34) & I-81 Home Depot, Chili’s 140,715 SF GLA 10,584 SF Future Expansion/Pad
NEW JERSEY Mt. Olive Pad Sites Available Adjacent to Foreign Trade Zone Across from Wal-Mart, Sam’s, TJ Maxx Old Bridge A & P Shopping Center Route 9 & Ferry Rd. 64,920 SF GLA Up to 4,000 SF Outlot Vineland Vineland Marketplace Delsea Dr. (Route 47) & College Dr. New Development 273,657 ± SF GLA / Outlots Available Williamstown Williamstown Shopping Center Black Horse Pike (Route 42) & Main St. CVS, Fashion Bug, Dollar General 85,000 SF GLA Anchor Space Available NEW YORK Deer Park Kohl’s Plaza Commack Rd. & Grand Blvd. Kohl’s, Super Stop & Shop 182,875 SF GLA Proposed Pad 3,800 SF Glenville/Scotia (Albany) Freestanding Building Saratoga Rd. (Route 50) & Glenridge Rd. 128,485 SF GLA Anchor Space Available Holtsville Island 16 Cinemas Shopping Center Nicholls Rd. & Long Island Expwy. National Amusements Theater, Chili’s 117,342 SF GLA Pad Bldg. Available with Drive-thru
Staten Island Lowe’s West Shore Center Veterans Rd. West (I-440) & Arthur Kill Rd. Pad Building Available 7,000 SF New Retail Bldg. Available 166,600 SF GLA Stony Point Stony Ridge Plaza Route 9W & Park Rd. US Post Office, Curves For Women 21,212 SF GLA Williamsburg (Brooklyn) North Side Piers Retail 20 North 5th St. & Kent Ave. Tower I: 181 Condos, 113 Apts. & 17,167 SF Retail Tower II: 250 Condos & 5,178 SF Specialty Rest. OHIO Ashtabula Home Depot Plaza Route 20 (N. Ridge Rd.) & Orchard Rd. 130,000 SF GLA 18,440 SF Expansion & Pad Findlay Hobby Lobby Plaza Tiffin Ave. & Croy Dr. Hobby Lobby Anchor Space Available
Latham/Colonie (Albany) Kmart Shopping Center Route 7 & Swatling Rd. 118,863 SF GLA Up to 10,000 SF Outlot Available
Oregon (Toledo) Vacant Land – 4.645 Acres Dustin Rd. & Isaac Street Dr. 1 block south of Navarre Ave. (Rte. 2) & Kmart 116,805 SF GLA
Monroe/Woodbury Harriman Commons Routes 17 / 6 & Route 32 Wal-Mart, Home Depot, BJ’s, Target, Home Goods, Best Buy 687,716SF GLA Anchor Space & Outlots Available Future Phase III Office Bldg.
OREGON Salem Kmart Shopping Center Mission Street S. E. 116,866 SF GLA
RD
Management LLC
Trexlertown Trexlertown Marketplace Hamilton Blvd. (Route 222) & Mill Creek Rd. Walgreens, Panera Bread, Verizon 36,068 SF GLA TENNESSEE Hermitage (Nashville) Freestanding Bldg. adjacent to Jackson’s Courtyard Shopping Center 3445 Lebanon Pike 24,040 sf GLA 36,000 sf GLA Possible Redevelopment Texas Ft. Worth Westcliff Shopping Center Albertson’s Market, Dollar General Alton Rd. & Biddison St. 133,332 sf GLA VIRGINIA Richmond Food Lion Plaza Route 1 (Jefferson Davis Hwy.) & Chippenham Pkwy. Outlots Available WEST VIRGINIA St. Albans St. Albans Center Route 60 & MacCorkle Ave. SW Kmart, Super Kroger, Peebles, CVS 230,000 SF GLA PUERTO RICO Arecibo Arecibo Towne Center Routes 2 & 22 Future Development Anchor Position & Outlots Available Ponce Reina del Sur; Outlots at Ponce Towne Center II Rtes. #2 & Baramaya Ave. (Rte. 10) @ PR-52 Wal-Mart SuperCenter, Home Depot New Development & Pads 525,000 ± SF GLA
Thomas G. Mirandi 212-265-6600 Ext. 239 Email: tmirandi@rdmanagement.com Fax: 212-459-9133
12B — January 27 - February 9, 2012 — Shopping Centers — Mid
Atlantic Real Estate Journal
www.MAREjournal.com
PEOPLE ON THE MOVE Specializing in geotechnical engineering & consulting
13-year veteran of the industry
ECS Mid-Atlantic promotes & hires 8 new team members
Orlove joins Rosenthal, vice president of leasing
C
HANTILLY, VA — J. Randy Wirt, P.E., vice president, has joined ECS Mid-Atlantic, LLC (ECS) as the director of Engineering (Geotechnical) for the new ECS Mid-Atlantic Special Projects Group. Originally from Richmond, Virginia, he has both Bachelor of Science and Master of Science degrees in Civil Engineering (emphasis in Geotechnical Engineering) from Virginia Polytechnic Institute and State University in Blacksburg, Virginia. Margaret E. Tomeo, P.E. has been promoted to the position of D.C. / Arlington County Geotechnical Group Manager. Tomeo manages subsurface explorations and construction materials testing projects, including soils, deep and shallow-foundations, support of excavation systems, retaining wall structures, reinforced and post-tensioned concrete, masonry, structural and lightgauge steel and Exterior Insulation Finishing Systems. She also prepares geotechnical engineering reports for singlefamily homes, commercial and industrial buildings, retaining walls, high-rise buildings with multiple below-grade levels, and residential land developments. R. Drew Thomas, CPG, has joined ECS Mid-Atlantic, LLC (ECS) as a Senior Engineering Geologist. With more than 18 years of experience in geotechnical, environmental, engineering geology and groundwater resource investigations, Thomas is a certified Professional Geologist in the Commonwealth of Virginia and holds a Bachelor of Science degree in Geology from Radford University. He was previously a founding principal of a geotechnical consulting firm he led for more than 12 years. Beyond his traditional geotechnical expertise, Thomas has a wealth of experience in the planning and execution of geophysical testing and the interpretation of geophysical data, using geophysical methods to detect subsurface karst features, determine depth to bedrock, and locate water bearing fracture zones. He has worked with clients in the industrial, commercial and transportation sectors, as well as with local municipalities, state and federal government entities and agencies. Jeffrey (Jeff) A. McGregor, P.E., has been promoted to Branch Manager for the Fred-
erick, Maryland office. With more than 11 years of geotechnical engineering and project management experience, he is responsible for managing office operations, marketing, providing support to the soils laboratory and construction materials testing departments, developing field investigation programs, in-situ testing, engineering analysis, and preparing reports to provide geotechnical design information. McGregor is a professional engineer in Maryland and Virginia, and is a member of the American Society of Civil Engineers, the Society of American Military Engineers and the Maryland Society of Professional Engineers. McGregor holds a Bachelor of Science and a Master of Science in Civil Engineering from Virginia Polytechnic Institute and State University (Virginia Tech). Salvatore (Sal) Fiorentino, P.E., continues in his full-time role as the Mid-Atlantic North Regional Manager for ECS MidAtlantic, LLC. He is responsible for operations and client management for all ECS North Region offices, which includes the York, Pennsylvania, Aberdeen, Baltimore, Frederick, Ocean City and Waldorf, Maryland branch office locations. Christopher Kercsmar, P.E., has joined ECS Mid-Atlantic, LLC (ECS) as a Senior Project Manager. A native of Easton, Pennsylvania, Kercsmar has a Bachelor of Science in Civil Engineering from Lehigh University in Bethlehem, Pennsylvania. He holds Professional Engineer (P.E.) licenses in Virginia, Maryland, Washington, D.C., Pennsylvania, Georgia and Texas, and is a LEED® Accredited Professional. Prior to his employment with ECS, Kercsmar owned his own firm, cK Structural, PLC, which provided specialty structural engineering services to the precast /prestressed concrete industry. He has more than 16 years of experience in new project design, investigations, and repair/renovation design. Kerscmar holds memberships in the Precast/Prestressed Concrete Institute, the American Concrete Institute, the International Concrete Repair Institute, WACEL, and the International Facility Management Association. Jerry S. (Steve) Donahue, P.E., has joined the Fredericksburg, Virginia branch office of ECS Mid-Atlantic, LLC as a Project Engineer. He has more
than six years of experience in geotechnical engineering and construction materials testing projects. His responsibilities include working with the construction materials testing team managing materials testing projects and working as a project engineer on geotechnical engineering projects. Donahue holds a Bachelor of Science Degree in Civil Engineering from the University of Delaware. A native of Lewes, Delaware, Donahue previously worked for an engineering consulting firm in that region. He was responsible for engineering design involving residential, commercial and industrial projects throughout the state. Donahue is excited about the opportunities available in Fredericksburg to build on his professional experience, especially as it relates to geotechnical engineering. He holds a Professional Engineer (P.E.) license in the State of Delaware and is in the process of obtaining his P.E. in the Commonwealth of Virginia. Adam M. Meurer, PWS, LEED AP, has been promoted to the position of Environmental Department Manager in the Richmond, Virginia branch office of ECS Mid-Atlantic, LLC. His new duties include project management, technical quality assurance/ quality control, business development and client relations, as well as employee mentoring and training. Meurer’s areas of expertise include petroleum, brownfields and voluntary remediation projects, wetland permitting and mitigation, stream restoration, landfill assessment and corrective actions, fate and transport contaminant modeling, and erosion and sediment control projects in a variety of market sectors. He holds a Bachelor of Science degree in Environmental Science from Allegheny College and a Master of Science degree in Environmental Science from the University of Virginia. He is a certified Professional Wetland Scientist, a Leadership in Energy and Environmental Design LEED® Accredited Professional, and a Certified Arborist. ECS, a consulting firm specializing in geotechnical engineering, environmental consulting, construction materials testing and facilities engineering, is ranked 109th in Engineering News-Record’s 2011 listing of Top 500 Design Firms. ■
VIENNA, VA — One of the DC area’s top, integrated commercial real estate companies recently added a new face to its team of professionals, a move that further enhances the company’s position Billy Orlove in the local retail real estate community. Billy Orlove, a 13-year veteran of the industry, joined Rosenthal Properties during the fourth quarter of 2011 as vice president of leasing. He most recently served in the same capacity at JBG Rosenfeld Retail in Chevy Chase. “We are so pleased to have Billy on our team,” said Rosenthal Properties’ Senior Vice President Maury DeFreitas. “As we continue to develop our retail portfolio and tenant representation practice, we need a seasoned leasing professional like him to be networking with tenants, brokers, and other leasing agents to add value for our holdings. His background, contacts, and years of experience in the Washington retail real estate
community will serve us well for many years to come.” In addition to Rosenthal Properties’ existing properties and clients, Orlove will continue his work with a number of third-party clients including Tishman Speyer, Republic Properties, Principal Global Investors, Woodfield Investments, Piedmont Real Estate, and Brookfield, as well as his tenant representation clients SunTrust Bank, Virginia ABC, Sherwin Williams, Crunch Fitness, and Bang Bang Mongolian Grill, among others. A native of the metro area, Orlove earned his bachelor’s degree from the University of Pennsylvania, his J.D. from the Washington College of Law at American University, and a Masters of Law in Taxation from Georgetown University. Prior to his six-year tenure at JBG Rosenfeld, he was a broker with Baltimore/Washington area-based H&R Retail and, at the start of his career, practiced real estate law in Montgomery County, MD, for three years. Orlove is an active member of the International Council of Shopping Centers (ICSC) and the DC Building Industry Association (DCBIA). n
Jersey Mike’s Subs host a five day fundraiser ALEXANDRIA, VA — Jersey Mike’s Subs officially opened its doors in Alexandria. Jersey Mike’s operator, Pat Foley knows the importance of community relations and celebrated his new ties with the area during the grand opening on January 18, 2012. To commemorate the event, the new restaurant, located at 7732 D Richmond Highway, hosted a 5-day fundraiser from Wed., Jan. 18 through Sun., Jan. 22, with proceeds supporting Wounded Warrior Project. Anyone who had a fundraising coupon received a free regular sub for a minimum $1 contribution. Thousands of coupons were distributed throughout the community. “We owe so much to those who fight to keep our country safe,” said Foley. “Because of our community’s proximity to the Pentagon, Ft. Belvoir and Quantico Marine Base, the sacrifices made by
the men and women of our Armed Forces are especially apparent.” Foley hopes their fundraising efforts will help facilitate the mission of the organization that seeks to honor and empower present day Wounded Warriors. Wounded Warrior Project is aimed to raise awareness and to enlist the public’s aid for the needs of injured service members, to help injured servicemen and women aid and assist each other, and to provide unique, direct programs and services to meet their needs. All franchise owners find ways to support their neighbors and employees are encouraged to volunteer their time and talents as well. “When we give back to the communities we serve, everyone benefits – we congratulate Pat on this new store and his team’s community spirit.” said Peter Cancro, Jersey Mike’s founder and CEO. ■
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Mid Atlantic Real Estate Journal — Shopping Centers — January 27 - February 9, 2012 — 13B
14B — January 27 - February 9, 2012 — Shopping Centers — Mid
Atlantic Real Estate Journal
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PEOPLE ON THE MOVE At Marcus & Milichap RE Investment Services
Retail real estate veteran
Gorman named sales mgr. of the Philadelphia office
Cohen joins Levin Mgmt. as VP of leasing
P
HILADELPHIA, PA — Marcus & Millichap Real Estate Investment Services, the nation’s l a r g e s t real estate i n v e s t ment services firm, has named T h o m a s Thomas Gorman Gorman as sales manager of the Philadelphia office, according to Spencer I. Yablon, vice president and regional manager
of the office. “Thomas has extensive experience in commercial real estate as an investment specialist,” says Yablon. “He will be an asset to our brokerage team and instrumental in expanding our national market-making capabilities to clients throughout the Northeast.” Prior to being asked to join the firm’s management team, Gorman was promoted to associate vice president investments in recognition of his accomplishments as an agent. His previous title was
senior associate. Gorman began his career with Marcus & Millichap in the Philadelphia office in November 2003. As an agent, he specialized in retail and net-leased investments and was an associate director of the firm’s National Retail Group and Net Leased Properties Group. Prior to joining Marcus & Millichap, Gorman worked with Fortune 500 companies at Deloitte Consulting. He graduated from Loyola University Maryland with a degree in philosophy. ■
Spadavecchia joins The Goldstein Group as new director of marketing PARAMUS, NJ — Chuck Lanyard, President of The Goldstein Group, New Jersey’s leading commercial real estate brokerage firm, announced that Nicholas Spadavecchia has joined the Nick Company as Spadavecchia its new Director of Marketing. With over 18 years of marketing experience, Spadavecchia will oversee all marketing, communications and property marketing services on behalf of the firm. “We are pleased to welcome Nick as part of the on-going enhancement of our marketing
efforts. With our continued success on exclusively serving the retail market, we are growing our sales force and elevating our marketing in order to better serve our clients. We have increased our focus in retail leasing and sales to now include sales of multi-tenant retail, residential, office and industrial properties as well as mixed-used, free standing retail properties and development sites,” stated Chuck Lanyard, President. “Nick brings a strong and deep background in branding and property marketing to The Goldstein Group. We are particularly proud of the very talented team of professionals assembled and the unique ‘client focused’ culture of The Goldstein Group and look
forward to the contributions Nick will bring to our clients and our firm.” Nicholas Spadavecchia, Director of Marketing, has over 18 years of marketing and communications experience in the commercial real estate and building products industries. Prior to joining the Company, he served as a senior vice president and director of marketing - New York Tri-State Region for Jones Lang LaSalle. Spadavecchia has significant experience in marketing, communications, property marketing, social media and e-marketing. He will lead the Company’s marketing efforts in growing its base of retail tenant and landlord clients in New Jersey and nationally. ■
Golub & Isabel Attorneys at Law company announcements PARISPANY, NJ — Golub & Isabel Attorneys at Law are pleased to announce that Daniele Cervino has joined the firm as Partner. Cervino joins the firm EWMA and was previously a partner at Cole Schotz. Her practice focuses on Regulatory and Transactional Environmental law. E r i c To m a s z e w s k i , formely an associate with the firm has been promoted to Partner. Tomaszewski will continue to focus his practice on Environmental and Insur-
Daniele Cervino
Eric Tomaszewski
ance Litigation. Kristin Makar has become associated with the firm. Makar graduated cum
Kristin Makar
laude from Seton Hall Law School, where she served as Symposium Editor for the Seton Hall Law Review. ■
NAI SUMMIT donates to Volunteer Center of Hope Chest ALLENTOWN, PA — NAI Summit employees recently held a “Jeans Day for a Cause” fundraiser in which employees gave money to wear jeans for the day. The money was then donated to The Volunteer Center of the Lehigh Valley’s
Holiday Hope Chest Project. Holiday Hope Chests is a national project adopted by the Volunteer Center of the Lehigh Valley and other local businesses to help less fortunate children living in the Lehigh Valley. Collected Chests
(shoe boxes) will be distributed throughout the holiday season in the Lehigh Valley through agencies serving children. NAI Summit holds Jeans Day once a month and donates the monies raised to various causes and charities. ■
Michael Cohen and Matthew K. Harding NORTH PLAINFIELD, NJ — Michael Cohen has joined Levin Management Corporation as vice president of leasing, announced Matthew K. Harding, president and chief operating officer. He will oversee all leasing activities, provide leadership, and interact with all members of the leasing team for the company. A leading retail real estate services firm, Levin offers leasing, management and many other services to clients throughout the northeastern United States. Cohen joins Levin Management from DLC Management Corp., where he was executive vice president and director of leasing. Known as an accomplished deal maker and manager, he directed the leasing efforts for the entire company portfolio. Cohen successfully repositioned numerous company assets during his 17 year tenure with that organization. “Michael’s experience managing a major leasing department, and the many longterm relationships he has with top retailers regionally and nationally, make him a perfect complement to our firm as we continue to grow,” said Harding.
“He will be instrumental in the strategic growth of our organization,” Harding added. “His experience outside of the Northeast and Mid-Atlantic regions will provide Levin with further opportunities to bring new retailers to our market areas.” Levin’s portfolio includes more than 90 diverse retail properties totaling 12.5 million s/f. Properties range from downtown stores to lifestyle centers, and from neighborhood and community centers to power centers in New Jersey, New York, Pennsylvania, Virginia, North Carolina and Florida. “Having toured Levin’s portfolio, I have been deeply impressed by the quality of those assets,” said Cohen. “Also, the company does a great job of maintaining retailer relationships, which is very important, and in keeping with their hands-on management style. “In addition, I have met with members of the executive and leasing teams and have been very impressed by their commitment and longevity with the company, which is an important factor in Levin’s success and continued growth,” Cohen said. ■
Stankiewicz of ROCK earns mgmt. position YORK, PA – ROCK Commercial Real Estate named Eric M. Stankiewicz as Property Management Coo r d i n a t o r. Eric has been active in property management for the Eric Stankiewicz past eleven years, most recently holding
the position of Property Manager for Select Property and Association Management. He has a strong background in commercial and residential properties, home owner associations, and earned a Bachelor of Science degree in Business Administration and Marketing from The Pennsylvania State University. He is a member of the Real Estate Association of York and Adams Counties. ■
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Mid Atlantic Real Estate Journal — Shopping Centers — January 27 - February 9, 2012 — 15B
SHOPPING CENTERS BUSINESS CARD DIRECTORY ENGINEERING CONSULTANT
COMMERCIAL INVESTMENT RE Jules A. Borrus BROKER-PRESIDENT
GENERAL CONTRACTOR
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Ma hew Ru , PE,CDP President
direct/cell: (717) 490-2785 mruƩ@landcoreconsulƟng.com
REAL ESTATE
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P: 212.710.9362
F: 917.591.5497
E: DKATZ@KATZPROPERTIES.COM WWW.KATZPROPERTIES.COM
REALTY
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R E A L E S TA T E S E R V I C E S
President
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16B — January 27 - February 9, 2012 — Shopping Centers — Mid
Atlantic Real Estate Journal
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RETAIL BROKERAGE DIRECTORY Azarian Realty Co. The Azarian Building • 6 Prospect St. Suite 1B • Midland Azarian Realty Co. Park, NJ 07432 P: 201-444-9888 The Azarian Building F: • 6201-444-6655 Prospect St. www.azariangroup.com Suite 1B • Midland Park, NJ 07432 F:info@azariangroup.com 201-444-9888 F: 201-444-6655 John M. Azarian • Donna M. Azarian • Kevin www.azariangroup.com Pelio Nicole Critelli • Matt Scozzari info@azariangroup.com John M. Azarian • Donna M. Azarian • Kevin Pelio Nicole Critelli • Matt Scozzari
Coldwell Banker Commercial Bennett Williams Inc. 110 N. George Street • 4th Floor York, PA 17401 P: 717-843-5555 F: 717-843-5550 info@bennettwilliams.com Robert Behler Jr. • Bobby Traynham Dennis Neiman • Chad Stine Chris Seitz • Bradley Rohrbaugh • David Schad
Barglow Companies 878 Georges Road Monmouth Junction, NJ 08852 www.barglowcompanies.com Azarian Realty Co. P:732-297-8700 The Azarian BuildingF:732-297-8701 • 6 Prospect St. www.barglowcompanies.com Suite 1B • Midland Park, NJ 07432 F:bill@barglowcompanies.com 201-444-9888 F: 201-444-6655 William Barglow • Matthew Behr www.azariangroup.com Timothy Behr • Joanne Berardi info@azariangroup.com Harvey Snyder John M. Levine Azarian• Nicole • Donna M. Azarian • Kevin Pelio Jennifer Yacovelli Nicole Critelli • Matt Scozzari
Coldwell Banker Commercial Pennco Real Estate 1250 North 9th Street • Stroudsburg, PA 18360 P: 570-476-7711 F: 570-476-6130 email: retail@cbcpennco.com www.cbcpennco.com Spiros Bilianis, CCIM • James Fondi Teresa Mickens, CCIM • Susan Mikels Northeast Pennsylvania Experts
Calkain Companies, Inc. 11150 Sunset Hills Rd. • Suite 300 Reston, VA 20190 P: 703-787-.4714 F: 703-787-4783 Jeff Bogart • Gerald E. Burg • Jonathan W. Hipp Andrew M. Fallon • W. Douglas Wright Rick Fernandez
Colliers International – Philadelphia, PA (HQ) 399 Market St. Ste. 350 Philadelphia, PA 19106 P: 215-925-4600 F: 215-925-1040 www.colliers.com/philadelphia Michael Barmash • Despina Belsemes David Dunkelman • Michael Kahan Todd Sussman
4600 West Cypress St. • Suite 110 Tampa, FL 33607 P: 813-282-6000 F: 813.282-6098 David Sobelman • Teal M. Henderson Guenter Manczur, CCIM • Patrick R. Nutt 1521 Concord Pike (US 202) • Suite 301 Wilmington, DE 19803 P: 302-235-3017 F.: 775-667-2874 Bob Browning • Andrew M. Fallon Calkain Asset Management 200 Wheeler Rd. • 2nd Floor • Burlington, MA 01803 P: 781-694-0410 F: 781-694-0415 Richard T. Murphy Calkain Realty Advisors 11150 Sunset Hills Rd. • Suite 300 • Reston, VA 20190 P: 703-787-4714 F: 703-787-4783 Betty Learned Friant • Brian O’Hear
Capital Retail Group 1401 14th St. NW • 3rd Floor • Washington, DC 20005 P: 202-319-2884 www.capitalretailgroup.com Robert E. Tack • Michelle Tack Capital Retail Group is founded on the belief in doing a few things very well. It’s straight forward. We know commercial real estate leasing, sales and property management. We know our business.
Colliers International – Conshohocken, PA 161 Washington St., Ste. 825 Conshohocken, PA 19428 P: 610-684-1850 F: 610-684-1857 Damon DiPlacido Colliers International – Allentown, PA 7535 Windsor Dr., Ste. 208 Allentown, PA 18195 P: 610-770-3600 F: 610-770-3100 Derek Zerfass Colliers International – Harrisburg, PA 300 N. Second St., Ste. 1203 Harrisburg, PA 17101 P: 717-730-3752 F: 717-238-3299 William Aiello • George Lulos Colliers International – Mount Laurel, NJ 1317 Route 73, Ste. 109 Mt. Laurel, NJ 08054 P: 856-234-9300 F: 856-222-1115 David Dunkelman Colliers International – Wilmington, DE 300 Delaware Ave., Ste. 1018 Wilmington, DE 19801 P: 302-425-4000 F: 302-425-4700 Mark Undorf
Dietrick Group, LLC 5100 W. Tilghman St. • Suite 320 • Allentown, PA 18104 P: 610-391-8888 F: 610-391-8830 www.dietrickgroup.com Kelly L. Berfield kberfield@dietrickgroup.com Ryan C. Dietrick rdietrick@dietrickgroup.com Lucy H. Lennon llennon@dietrickgrouip.com Alfred G. Vasta, Jr avasta@dietrickgroup.com Real Estate Sales, Appraisal & Property Management
Equity Retail Brokers 101 West Elm St. • Ste. 370 • Conshohocken, PA 19428 P: 610-645-7700 F: 610-645-5454 info@equityretailbrokers.com Stuart Conston • Lee Cooper • Bart Delfiner Ed Ginn • Kathy Haines • Conrad Heckmann Ken McEvoy • Rob Samtmann • Rose Urban Brian Wherty • Rich Zeller • Gregory Jones Chris Lee • David Goodman
Fameco - Woodbridge, NJ Woodbridge Towers • 555 U. S. Hwy 1 Fameco NJ Iselin, NJ- Woodbridge, 08830 Woodbridge Towers • 555 U. S. Hwy 1 P: 732-526-9000 F: 732-526-9101 Iselin, NJ 08830 www.famecoretail.com P: 732-526-9000 F:Caparruva 732-526-9101 Tyler Bennett • Carlo www.famecoretail.com Mike Horne • Anthony Palmiotto Tyler Bennett • •Carlo Kim Kretowicz ScottCaparruva Jennerich MikeSpector Horne Scott Jennerich • Dan Spector Dan • Steven Winters Steven Winters Fameco - Philadelphia, PA Fameco - Philadelphia, PA200 1425 Walnut Street, Suite 1425 Walnut Street, Suite Philadelphia, PA 19102 200 Philadelphia, PA 19102 P: 215.557.0050 F: 215.557-0053 P: 215.557.0050 F: 215.557-0053 www.famecoretail.com www.famecoretail.com Jackie Balin • Paige Barrow Jackie Barrow MichaelBalin Gray• •Paige Eva Redette Michael Gray • Eva Redette Larry Steinberg Fameco - Plymouth Meeting, PA 633 West Germantown Pike • Suite 200 Plymouth Meeting, PA 19462 P: 610-834-8000 F: 610-834-1793 www.famecoretail.com Cathy Agnew • Brian Bruzek • Jeff Cohen Jim Creed • Scott Dennis • Brandon Famous John Fasciano • Dana Hawkins Jerry Johnson • Jon Kieserman Adam Kohler • John Krause • Jon Kushner Gary Leone • Marc Mandel • Matt Mandel Jay Miller • Steve O’Malley • David Orkin Dale Peterson • Rick Schuch Julie Tanpitukpongse • Dave Vitali Rick Weinberg ••Fred Marissa Visconsi Younkin Fred Younkin Colin Behr • Daniel Sonnentag
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Mid Atlantic Real Estate Journal — Shopping Centers — January 27 - February 9, 2012 — Inside Back Cover B
RETAIL BROKERAGE DIRECTORY Kay Realty Services, LLC 1989 Jumping Brook Rd. Tinton Falls, NJ 07753 P:732-918-1148 F:732-918-1628 www.kayrealtyholdings.com William Klein, Broker • Developer Property Management • Leasing
KW Commercial-The James Balliet Commercial Group 40 S. Cedar Crest Blvd. Allentown, PA 18104 P:610-435-4711 Levin Management F:610-435-2800 www.lehighvalleycommercial.com P. O. Box 326 • Plainfield, NJ 07061 P:James 800-755-7194 F: 908-755-7194 Balliet, Robert Thompson, Melanie Stocker www.levinmgt.com Dr. Rex D’Agostino, Cheyenne Reiman Dale Mulartrick Jake Frantzman • Barry Greenberg Pete•Ambrosino, Heather Lynne Pina Hoel • Stan Bernstein • Dennis Larrison Christopher Milotich
Joe R. Deerin, CSM • Donna Deerin Ward 120 North Pointe Blvd., Suite 301, Lancaster, PA 17601 P: 717-569-9373 T: 800-864-2633 www.LMS-PMA.com Dave Nicholson, Blaze Cambruzzi, Michael Boden, SCSM, Chad Ward, Blake Gross, Joe Spagnola, CCIM Ted Hummel, CCIM, e-pro, Wilay Boensch
Madison Marquette 1717 ArchS.St. • Suite 3930 David Feldman Philadelphia, PA 19103DC Office Regional Manager – Washington Special Assets Services – Regional Director Joseph D. Morris 7200 Wisconsin Ave. • Ste. 1101 • Bethesda, MD 20814 P: 215-399-4186 P: 202-536-3700 F: 202-536-3710 www.marcusmillichap.com John-david W. Franklin SCLS P: 215-399-5606 Danny Brooker, Josh Feldman, Brandon Jenkins, Kirk Knight, Ed Laycox, Nathan Pealer, Rudolph Rueda, Peter Snell
David S. Feldman Regional Manager – Washington DC Office Special Assets Services – Regional Director Michael J. Fasano Wisconsin • Ste. Manager 1101 Vice7200 President and Ave. Regional Bethesda, 20814Park, NJ 07407 611 River Dr. • 4th Floor • MD Elmwood P: 202-536-3700 201-582-1000 F: 202-536-3710 201-582-1010 www.marcusmillichap.com Danny Brooker, Josh Feldman, Brandon Jenkins, Kirk Knight, EdZoltek, Laycox,David Nathan Pealer, Rudolph Urszula E. Thurston, Rueda, Peter Snell David Cafiero Michael Lombardi, Greg Babaian, Michael J. Fasano Vice President and Regional Manager 611 River Dr. • 4th Floor • Elmwood Park, NJ 07407 P: 201-582-1000 F: 201-582-1010 www.marcusmillichap.com Urszula Zoltek, David E. Thurston, Michael Lombardi, Greg Babaian, David Cafiero Spencer Yablon Spencer Yablon Manager Vice President and Regional Vice President and Regional Manager 101 West Elm Street • Suite 600 • Conshohocken, PA 19428 101 West Elm Street • Suite 600 • Conshohocken, PA P: 215-531-7000 19428 F:215-531-7010 P: 215-531-7000 www.marcusmilllichap.com F:215-531-7010 www.marcusmilllichap.com Derrick Dougherty, Matt Gorman, Derrick Jordan Dougherty, Matt Gorman, Andy Kaplin, Muchnick, Chris Munley, Kaplin,Michael JordanShover, Muchnick, Munley, Brad Andy Nathanson, MarkChris Taylor, Dean Zang Brad Nathanson, Michael Shover, Mark Taylor, Dean Zang
Metro Commercial – Mt. Laurel, NJ 303 Fellowship Rd • Suite 202 • Mt. Laurel, NJ 08054 P: 856-866-1900 F: 856-866-1611 Brandon Anapol • Brent Barbehenn • Dan Brickner Rob Cooper • Mark Gerlach • Perry GraBois Tom Londres • Lauren McDermott • Pete Nicholson Kurt Rumley • Paul Rumley • George Wisnoski Metro Commercial - Conshohocken, PA Eight Tower Bridge • 161 Washington St. • Suite 375 Conshohocken, PA 19428 P: 610-825-5222 F: 610-825-5156 Phil Azarik • Joe Dougherty • Donna Drew • Steve Gartner • Brian Goodwin • Randy Hope Glenn Marvin • Mike Murray • Steve Niggeman Roy Perez-Daple • Aaron Repucci Metro Commercial - Center City 123 S. Broad St. • Suite 1835 Philadelphia, PA 19109 Michael Gorman • Steve Gartner
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Company Name: _________________________________________________________________ Address:________________________________________________________________________ Telephone/Fax:__________________________________________________________________ E-Mail: _____________________ ___________________________________________________ Website:________________________________________________________________________ Commercial Brokers: ______________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ ______________________________________________________________________________ Elaine Fanning Mid Atlantic Real Estate Journal | 1-800-584-1062 | fax: 781-871-5299 | e-mail: efanning@marejournal.com
NAI Keystone Commercial & Industrial, LLC Exeter Ridge Corporate Center • 3970 Perkiomen Ave. • Ste. 200• Reading, PA 19606 P: 610-779-1400 F: 610-779-1985 John Buccinno • Bryan Cole • Steve Willems
Remco Realty Group 525 MIlltown Rd. • Ste. 101 • North Brunswick, NJ 08902 P: 732-253-0888 F: 732-253-0887 www.remcorealty.net Peter Gallicchio, Owner/President Nicole Zeller - Christopher Virgo - Brian Heller Joseph Marino – Mark DiGiovanni
R. J. Brunelli & Co. 400 Perrine Rd. • Suite 405 • Old Bridge • NJ 08857 P: 732-721-5800 F: 732-721-9241 www.njretailrealty.com Richard J. Brunelli • William A. Lenaz Carl J. Minue • Martin Yaged • John Lenaz Ron DeLuca • Edward Abaid Danielle Brunelli-Albrecht • Michael Murphy Assunta Spedaliere
Rock Commercial Real Estate LLC 221 W. Philadelphia • St. Suite 19 • York, PA 17401 www.rockrealestate.net Ryan Myers, CCIM, • Larry O’Brien, CCIM Benjamin Chiaro, CCIM • Cami Spiridonoff, CPM David Bode, CCIM, SIOR • Dave Keech, CCIM, SIOR Jason Turnbull, CCIM • Kevin Hodge, CCIM Michael Katz, CCIM • Russ Bardolf, CCIM Ted Turnbull, CCIM
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Elaine Fanning, Publisher Ph: 800-584-1062 x 212 Fax: 781-871-5299 efanning@marejournal.com www.marejournal.com P.O. Box 26 Accord, MA 02018
B Back Cover — January 27 - February 9, 2012 — Shopping Centers — Mid
Atlantic Real Estate Journal
www.MAREjournal.com
Washington Town Center UNDER NEW MANAGEMENT 273 Pascack Road, Washington Township, NJ
• Major Tenants: Super A&P, Rite Aid, Tri-Plex Theaters, Subway, United States Post Office • Located in the heart of Bergen County, New Jersey with convenient access to Route 17 and the Garden State Parkway with a traffic count of nearly 22,000 cars per day. •Only shopping/retail destination in town •Median income $84,000 •Newly Renovated
Aggressive Leasing Program Underway!
Contact us to make a deal!
Scan with your smart phone
Azarian Co. The Azarianroup, G Realty L.L .C. The Azarian Building 6 Prospect Street, Suite 1B, Midland Park, NJ 07432 www.azariangroup.com
Phone: 201-444-7111 | Fax: 201-444-6655 | Email: kpelio@azariangroup.com
Rochelle Park Shopping Center, Rochelle Park, NJ 1,099 s.f. available Mountain Plaza, Rockaway, NJ 1,229-4,500 s.f. available Fieldstone Park Shopping Center, Ringwood, NJ 1,250-10,000 s.f. available Hyde Park Mall, Hyde Park, NY 3,000–33,000 s.f. available Milton Shopping Center, Oak Ridge, NJ 2,500 s.f. available Pine Brook Plaza, Pine Brook, NJ 900 s.f. available Allendale Town Center, Allendale, NJ 1,700–2,008 s.f. available
Raritan Center, Sayreville, NJ 2,500–13,650 s.f. available Montvale Shopping Center, Montvale, NJ Town Plaza II, Orangeburg, NY 900–5,200 s.f. available Plaza K Shopping Center, Woodbridge, NJ 5,560-7,802 s.f. available(will subdivide) Lenox Plaza, Woodland Park, NJ 1,700–4,000 s.f. available The Azarian Building, Midland Park, NJ Fair Lawn Medical/Professional Building, Fair Lawn, NJ 1,200-5,300 s.f. available Neptune Plaza Shopping Center, Neptune, NJ 1,390 s.f. available Washington TownShopping Center, Washington, NJ 617-6,981 s.f. available New: Hamilton Square Center, Waldwick, NJ 2,000–5,040 s.f. available