8-31-12 by Mid Atlantic Real Estate Journal

REAL ESTATE JOURNAL the most comprehensive source for commercial real estate news

Volume 24 Issue 16 Aug. 31 - Sept. 13, 2012

ISSUE HIGHLIGHTS Cushman & Wakefield arranges $71 million sale

Keystone Chapter of ABC honors High Construction

10A Shopping Centers featuring PA/NJ/DE ICSC Show

Section B CREATE celebrates 15 Year anniversary

16-17B

330,589 s/f trophy office tower developed by The Evans Company

Clarion Partners’ Metro Park VI achieves LEED Platinum Certification

lexandria, VA — Clarion Partners’ Metro Park VI, a newly delivered 330,589 s/f trophy office tower has been awarded LEED Platinum certification by the US Green Building Council. The LEED (Leadership in Energy and Environmental Design) Core and Shell 2.0 Platinum level recognizes the building’s substantial reductions in building energy and water use, along with its exemplary level of indoor air quality. Developed by The Evans Company for New York-based Clarion Partners and designed by KlingStubbins, Metro Park VI is 60% pre-leased; Booz Allen & Hamilton has signed a ten-year, $40 million lease for 88,000 s/f. It is the final building within the 1.2 million s/f Metro Park office park, favored by Federal government contractors due to its proximity to Metrorail, the VRE commuter train, Fort Belvoir, and the newly relocated National Geospatial-Intelligence Agency.

Metro Park VI in Alexandria, VA Metro Park campus offers ten- future tenants, the design optiants an award-winning LEED mizes conventional ingredients Platinum conference center and into a result that exceeds confull-service fitness center, along ventional expectations.” Central to the building’s perwith the NAIOP award-winning Walker’s Grille, featuring fresh, formance is its form and masslocally sourced menu items in a ing. After testing various modcongenial environment. els, the design team selected “Metro Park VI represents a lozenge-shaped tower with an intelligent evolution of the “pinched” east and west ends to suburban office building type,” reduce heat gain at those exposaid architect Glenn Crawford sures. Glass curtain wall, which of KlingStubbins. “Rather than covers most of the building’s relying on a single, dramatic sus- exterior, consists of double-pane tainable feature, or on elements Low-E glazing filled with Argon. that would prove challenging to Portions of the glazing are silk

screened to help reduce solar radiation transmitted into the space. The building’s orientation, shape, and performance characteristics combine to reduce the building’s energy consumption by more than 35 percent compared with that of a similar, conventional building. The building also reduces water use dramatically – 50% in outdoor landscaping using and 30% indoors. “We are proud to receive USGBC’s highest level of recognition for our commitment to sustainability and high-performance design and construction,” said Marc DeLuca, managing director, Clarion Partners. “Metro Park VI demonstrates that developers do not have to make radical changes to conventional modern office building design, nor do they have to spend lavishly, in order to achieve substantial reductions in building energy and water use, along with greatly improved indoor air quality that can optimize tenants’ productivity and health.” n

SSH Real Estate arranges partnership transfer on two properties for $46 million Philadelphia, PA — SSH Real Estate has represented 1201 Chestnut Street Partners LP in the transfer of certain partnership interests in The Commonwealth Apartment Building, a 98-unit, redevel-

Directory

Auction News/Directory................ 6-7A Owners, Developers & Managers 9-29A Green Buildings......................... 16-24A People on the Move....................... 30A Calendar of Events.......................... 32A Shopping Centers................... Section B

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1201 Chestnut Street in Philadelphia opment of an historic office tower at 1201 Chestnut St. in Philadelphia. INVESCO Real Estate of Dallas, Texas made the investment on behalf of an unnamed client. “The Commonwealth represents a fantastic value-add story for both SSH and for Philadelphia,” said Daniel Mayock, director of Investment Services for SSH. “The

100 Concord in Chester Township ownership group was com- ter Creek Business Center is prised of three different oper- comprised of three existing ating partners, 806 Capital, office/flex/warehouse buildings Silverang Hallowell, and SSH totaling 178,960 s/f and a pad Real Estate. Together they site supporting a fourth buildtransformed an obsolete, class ing of 72,000 s/f. C office building into a new Mayock and Adam Gillespie apartment project. of SSH Real Estate were the In an unrelated transaction, agents on both transactions. SSH facilitated a joint venture The collective debt and eqpartnership capitalization of uity capitalization of both the Chester Creek Business- transactions totals over $46 Center in Chester Twp. Ches- million. n

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Mid Atlantic Real Estate Journal Publisher.............................................................................Linda Christman Co-Publisher..........................................................................Joe Christman

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

Section Publisher................................................................. Elaine Fanning Senior Editor/Graphic Artist................................................. Karen Vachon

Production Assistant......................................................... Rachel Rugman

Office Manager....................................................................Joanne Gavaza Editorial Consultant.............................................................. Ben Summers Contributing Columnist.......................................................... Eugene Diaz

By Eugene Diaz

Investment Sales: Recession’s After-effects Are Still In Play

ncertain capital flow for “in-between” deals, increased foreign investment money for big city properties, an increase in construction money, and signs of hope from the economy – those are some of the current trends in an investment sales market still impacted by the after-effects of an economic recession that “officially” ended nearly four years ago. Those after-effects are playing out in an investment sales market that has not completely stabilized. After a surge in sales in 2011, for example, the market slowed a bit in the first quarter of 2012, and not necessarily because there is not a sufficient supply of capital. Rather, there has been a lack of quality supply to fuel transactions. The analogy is that current supply is “two ends of the barbell,” with nothing in the middle. There is either a strong desire for high-quality core, long-term stabilized assets on one end of the barbell, or absolute rock bottom pricing providing the basis for opportunistic, value-add transactions on the other. For now, there is very little capital in the market to appropriately price deals in the middle of the barbell – deals that may be value-add in nature, but involve an investor or operator who has to do something with the asset to generate a significant yield. Put another way, those “in between” transactions currently providing little investment impetus are those that cannot guarantee long-term cash flow, or do not guarantee or have a significant opportunistic upside – mid and upper 20 percent returns or higher. For those transactions, investors have not put the risk on trade in terms of having confidence in the economy to carry those investments with any sort of underwrite-able certainty. That said, and despite the ebbs and flows of the marketplace, the recent performance of the economy has indeed provided some hope and a sense of positive expectation. There has been moderate job hiring and employment gains,

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although that has not necessarily shown up in all of the statistics just yet. But we are seeing a clear increase in activity, particularly among the small to mid-sized companies. One indication comes from the Bankers Association, which reports that those small to mid-sized companies are now beginning to access capital and that lenders are beginning to let capital flow to those non publicly traded enterprises. That is indeed a change, because while many of those companies have continued to have very good balance sheets, it has been the large, multinational public companies that for the past years have had sole, exclusive access to the capital markets. One example of the increase in activity among banks that lend to those kind of groups is Sun Bank, based in Vineland, N.J. Sun, which has its Northern New Jersey business office in our company’s office park, has been there for just three years and already has doubled their occupancy on the expectation that their middle market lending business is increasing dramatically. In terms of other current investment market trends, foreign investor money has been extremely active – but only in the gateway cities. As far as the region’s suburban markets, there is some interest in creditbased, long-term leasebacks – they’ll play in that arena. But in general, the suburban markets are not attracting foreign capital. Over and above the foreign money, the majority of capital currently in the market appears to be the commingled funds and institutional pension fund advisors. They are

generally, of course, the same buyers that have always been here and after experiencing a long hiatus are coming back to market. More funds have been raised, they’ve been sitting on cash, the mandates are starting to come in, and they are becoming more active. We are, in fact, receiving calls from them and seeing more interest and competition when a quality transaction becomes available. We are also seeing some construction money returning to the market, especially for multi-family product. As has been reported, there has been a significant increase in multifamily construction projects, driven in part by the REITs, as well as by private institutional capital. The industry just can’t seem to build enough apartments to meet the current demand in a housing market that has seen a surging in rentals at the expense of home buying. But overall, returning to the earlier analogy, there is still too little available product for investment money to be chasing at the ends of the “barbell.” That overall trend, by the way, is impacting pricing positively. When a very attractive, highquality, stabilized transaction does become available in this market, it will indeed be sold at aggressive pricing. For the rest of the year and into 2013, the investment sales market forecast remains mixed. Trends in the overall economy will set the tone, and if pricing does remain aggressive, more opportunities will arise for the flow of money that has been sitting on the sidelines post-recession. Eugene Diaz is principal partner of Prism Capital Partners, LLC in Bloomfield, NJ. n

Mid Atlantic Real Estate Journal — August 31 - September 13, 2012 — 3A

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Mid AtlAntic ReAl estAte JouRnAl Of Philadelphia-area Apartments

Cushman & Wakefi eld arranges $ 1 million sale

ENSALEM, PA — Cushman & Wakefield has orchestrated the $71 million sale of Village Square Apartments, a 694-unit complex in Bensalem. Karen Iman, Brian Whitmer, Andrew Merin, Marybeth Farris and Nick Karali of the firm’s Capital Markets Group (CMG) represented the agent for the seller, Korman Residential, and procured the buyer, Paradise Property, LLC. Village Square Apartments consists of 436 one-bedroom and 258 two-bedroom units in 56 two-story, brick-clad buildings. “The market for well-located, high-quality multi-family assets in metro Philadelphia has been robust with activity, and we have seen growing demand

only in metro Philadelphia, but also the larger Washington, D.C. to New York corridor,” Merin said. “But metro Philadelphia in particular has emerged as a market for multi-family investors. In the early 2000’s, only a handful of communities were being sold in this market per year. Since 2010, with an influx of new buyers and capital targeting Philadelphia assets, we’re seeing a more heated and liquid investment sales market with a dozen or more communities being sold per year.” “With that influx, pricing has become increasingly aggressive, and class B communities with a vintage similar to Village Square have been trading near a six percent yield,” he said. n

Village Square Apartments both from local owners and developers, as well as investors from outside of the region”, said Iman. “The fact that this offering attracted more than 120 expressions of interest is a clear sign of the demand that’s out there for apartment assets, not

Studley’s Marx, Messina & Koeck broker 1 ,931 s/f lease ROSELAND, NJ — Studley represented McManimon, Scotland & Baumann, LLC in a long-term, 17,931 s/f lease at 75 Livingston Ave. McManimon, Scotland & Baumann took part of the second floor in the class A office building. Improved workplace strategies and efficiencies

reduced the firm’s office footprint by almost 25% from its previous location. “Favorable market conditions, along with a ‘right sizing’ of office space, allowed the firm to achieve substantial savings in overall occupancy costs,” said Studley senior managing director Christopher Marx.

Marx along with senior managing director Joe Messina and assistant director Chris Koeck, represented McManimon, Scotland & Baumann in the transaction. The landlord, Mack-Cali, was represented in-house by Rich Travaglini and Diane Chayes. n

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COMING SOON FALL PREVIEW We are inviting a select group of top executives to write an expert article about the current state of their respective marketplace and where they see it progressing in 2012. These experts will enlighten our readers on their industry and give a general overview of the marketplace in the field they represent

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4A — August 31 - September 13, 2012 — Mid

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Mid AtlAntic ReAl estAte JouRnAl

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IVINGSTON, NJ — Mark Scott’s Commercial Mortgage Capital (CMC) has closed $88.9 million worth of loans during the first six months of 2012. “ We a r e pleased to Mark Scott announce our latest Mark Scott’s Commercial Mortgage Capital transactions, which support our strategy of arranging financing for multifamily real estate projects in the Tri-State region,” said

Data Center Build-To-Suit East Stroudsburg, Monroe County, PA

Scott, founder and principal of CMC. “These loans speak to our ability to facilitate the proper financing structure for a range of borrowers in an expedited manner. We understand the competitive marketplace and offer quick turnaround as well as responsive and professional guidance throughout the entire loan process.” The six most recent transactions that closed were: • Edgewater Harbor – Building F – Multi-family, Retail – Edgewater, NJ Mark Scott’s Commercial Mortgage Capital arranged a $14 million construction

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loan. The loan will finance the construction of Building F at Edgewater Harbor, a 24-acre, luxury mixed-use project on New Jersey’s Gold Coast. • Andrew’s Corner – Multifamily – Lakewood, NJ Mark Scott’s Commercial Mortgage Capital arranged a $14.2 million permanent loan for a partnership consisting of New Jersey developers who own thousands of multi-family units across the state as well as several million square feet of industrial and office space in New Jersey and Pennsylvania. The loan is for Andrew’s Corner, a 148-unit apartment community located at 1 Lisa Robyn Circle in Lakewood, NJ. • Dartmouth Village Apartments – Multi-family – Parsippany, NJ Mark Scott’s Commercial Mortgage Capital arranged a $9.5 million self-liquidating first mortgage loan for Dartmouth Village, LLC’s Dartmouth Village Apartments in Parsippany, NJ. The Dartmouth Village garden apartment complex consists of 222 units housed in eight buildings. • River Bend at Wappingers Falls (Phase 2) – Multi-family – Wappingers, NY Mark Scott’s Commercial Mortgage Capital arranged an $8 million LIBOR-based construction loan for Riverbend at Wappingers, LLC, which was formed specifically to build, own and manage the luxury apartment complex, River Bend Wappingers Falls. The fullyleased property consists of 10 apartment buildings containing 124. • Columbia Court – Multifamily – Springfield, NJ Mark Scott’s Commercial Mortgage Capital arranged a $7.8 million permanent first mortgage loan for Columbia Court. The financing is for luxury apartment complex Columbia Court, which is located on 50 Maple Ave. in the suburban community of Springfield, NJ, part of Union County. The property consists of two adjoining three-story buildings containing 74 units – three studios and three-bedroom apartments, 17 one-bedroom units and 55 twobedroom spaces. • Multi-family Property – Camden County, NJ Mark Scott’s Commercial Mortgage Capital arranged a $5.5 million permanent first mortgage loan for a 148-unit apartment, n

Mid Atlantic Real Estate Journal — August 31 - September 13, 2012 — A

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Mid Atlantic Real Estate Journal Gillis & Gilkerson represent buyer of former Feldman’s

Sperry Van Ness - Miller’s Cox secures 10,000 s/f lease

ALISBURY, MD — Wesley Cox, CCIM, a senior advisor with The Hanna Team at Sperry Van Ness - Miller Commercial Real Estate announced that after being vacant for 3 years, a new tenant will soon occupy the former Boater’s World location consisting of 10,000 s/f. After months of negotiations Cox secured a lease with Trade It! As part of the deal the center will also receive a facelift with a brand new facade. This new lease along with the sale of the land across the street from this center for a new AT&T Wireless store marks two recent transactions Cox completed to help bring a rejuvenated look to this section of Rte. 13 North.

Former Feldman’s Building In a separate transaction Bradley Gillis, CCIM and Joey Gilkerson from Sperry Van Ness - Miller represented the buyer of the former Feldman’s Building, and Blair Rinnier, CCIM of Rinnier Development represented the seller. The buyer will create a high quality mixed use project with open sight lines to the riverfront, on-site parking and will focus on the historically significant 3-story building. The current building consists of four different structures totaling over 40,000 s/f on 20,000 s/f of land; the most important of which is the main 3-story building which dates back to the late 1800’s, first used by B.L. Gillis & Sons, wholesale grocers. Demolition will begin in the fall of 2012 with renovations to begin shortly after. The buyer hopes to work with the city to construct a riverwalk along the Wicomico River and Mill Street. “The newly named River View Commons (former Feldman’s Building) is a cornerstone project for Salisbury’s downtown. The project has wonderful views upriver and is within walking distance to restaurants, parking, offices and healthcare. The buyers’ are excited about the positive effect this project will have on downtown and

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Publication date: September 14 | Deadline: September 5, 2012 Special advertising rates to all participating firms. Trade It! rendering our community” said Bradley Gillis. “We will be marketing office and retail spaces for lease and even see a potential

opportunity for a restaurant. With onsite parking and river views the location is ideal” said Gillis. n

Michael Campisi mcampisi@marejournal.com Tel: 1-800-584-1062 x 208 Mid Atlantic Real Estate Journal www.marejournal.com

Metropolitan Area Capital Markets Group

the landings at Pine lake 520 units sale of garden style aPartment community lindenwold, nj

400 + 625 Pierce street 278,000 sf sale of two industrial buildings franklin townshiP, nj

100 sciPark blvd 66,000 sf sale of single-tenant office and lab building east windsor, nj

65 clyde road 159,000 sf sale of multi-tenant warehouse building somerset, nj

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Andrew J. Merin, Vice Chairman 201-460-3358 David W. Bernhaut, Vice Chairman 201-460-3356 H. Gary Gabriel, Exec. Vice President 201-460-3352 Brian J. Whitmer, Senior Director 201-508-5209

A â&#x20AC;&#x201D; August 31 - September 13, 2012 â&#x20AC;&#x201D; Mid

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Mid Atlantic Real Estate Journal Auctions 19 rooms on half-acre property to be sold by Max Spann

Archdiocese of Philadelphia to auction beachfront mansion

ENTNOR, NJ â&#x20AC;&#x201D; Villa St. Joseph by the Sea, a 19-room beachfront mansion owned by the Archdiocese of Philadelphia, will be sold via auction in September. Max Spann Real Estate & Auction Co. has scheduled the auction for Saturday, Sept. 15 at 1 p.m. on the property, located at 114 S. Princeton Avenue. Open houses have been scheduled from noon to 2 p.m. on Saturday, Sept. 1 and Sunday, Sept. 9.

Located within minutes of Atlantic City, the 9,800 s/f mansion was ceded for $1,000 to the Archdiocese in 1963 by Hannah Hogan in memory of her brother, the Rev. Edward Hogan, and has been used as a vacation retreat for elderly priests. Because of the distinctive uniqueness of the beachfront estate, the Archdiocese chose to let the market determine the value through an auction with Max Spann. 114 S. Princeton Avenue

â&#x20AC;&#x153;LIVEâ&#x20AC;? REAL ESTATE AUCTION / SEPT 26 $FUHV Â&#x2021; %RUGHULQJ , Â&#x2021; ([LW 7RPV %URRN 9$ Over 4500' Interstate Frontage Immediate Interchange Access

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Cashierâ&#x20AC;&#x2122;s Check Required to Bid / Title Insurance Issued / Closing in 35 to 45 Days For Brochure & Terms of Sale call 877-430-9558 Chartwell Group, LLC Âˇ Gordon Greene VAAL #3716 Jason Dolph,VA Broker #0225192495 â&#x20AC;˘ www.chartwellauctions.com

â&#x20AC;&#x153;Vacation homes in shore communities are taking two years to sell in some cases and the Archdiocese wants to sell this property now as opposed to potentially waiting,â&#x20AC;? said Max Spann, the president and CEO of the firm. â&#x20AC;&#x153;With unique properties like this, it is often difficult to determine a market value. Our auction will bring together motivated potential buyers who will have an opportunity to bid against each other in the open to determine a fair market price.â&#x20AC;? The property could possibly be re-zoned up to six lots and be re-developed by an investor. The half-acre Villa St. Joseph property spans a full beach block with 175 feet of beach frontage. The property features private gardens with a fountain surrounded by brick walls and iron gates. Built in 1905, the mansion has 11 bedrooms, each with their own private bathroom, and numerous covered porches and decks with panoramic views of the ocean, beach and boardwalk. The home also features expansive formal and casual dining rooms with service stations, a commercial kitchen, a grand foyer with parlor, sitting areas, custom millwork, an elevator, and a stunning staircase. A full basement features service and laundry areas, storage, a full bath and an office. The home also has a two-car detached garage and off-street parking. â&#x20AC;&#x153;The estate is stunning,â&#x20AC;? Spann said. â&#x20AC;&#x153;We are confident we can find a new owner that will appreciate it.â&#x20AC;? n

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Company News To accommodate additional employees

Summit Consulting moves to a larger office in D.C.

ashington, DC — Summit Consulting, a leading provider of sophisticated data analysis to federal government agencies as well as private-sector clients, announces to- Anthony Curcio day that it has opened a 4,160-square-foot office at 718 7th St. NW. In the midst of a significant staff expansion, Summit Consulting relocated to a bigger home in Washington, D.C., to provide it with ample room to continue hiring new professionals. The firm also has the option to occupy an additional 1,600 square feet at 718 7th St. NW.

The new space represents a square-footage increase of approximately 43 percent from the company’s previous office at 626 E St. NW. Anthony Curcio, the chief operating officer at Summit Consulting and leader of its Modeling and Forecasting Practice, says that the firm looked at alternatives throughout Washington but wanted to remain in the city. The larger space – which features a highly collaborative, open architecture environment – may accommodate up to 50 professionals, and even more than that if the firm exercises its option to further expand, Curcio said. Ultimately, company executives decided on 718 7th St. NW because of the building’s easy access to Metro for the firm’s work force, its historic quality,

and its proximity to clients. Currently, Summit Consulting has 44 employees. It hired 14 people last year and eight so far this year, and the firm plans to bring on board another five to seven workers by the end of 2012, Curcio says, noting that the company’s new staff members have both graduate and undergraduate degrees in various quantitative fields. “Our clients are demanding more of what we are already providing them, and, as they learn of other targeted capabilities that we have, they expand their scope of work into these additional areas,” he says. “We are focused on providing the best in client service and hiring the best people to deliver it. If we do that, responsible growth will take care of itself.” n

Reznick Group Charity Golf Tournament raises $14,000 Baltimore, MD — The Baltimore office of the Reznick Group raised $14,000 during its 11th Annual Charity Golf Tournament at Rocky Point Golf Course in Towson. More than 120 friends and employees participated in the event which raised money for The Anderson Children Education Fund - a private educational fund established on behalf of former Reznick Group employee Gary Anderson’s children. Anderson’s son David is pursuing an accounting career at Towson University and his daughter Lauren is in the process of looking at colleges in anticipation of pursuing a

career in medicine. Anderson, who was employed in Reznick Group’s Baltimore office, passed away in July 2011 after a courageous battle with esophageal cancer. He was a beloved former employee and also an avid golf player. Anderson spent 13 years of his professional career with Reznick Group. The $14,000 was the largest amount raised in the 11 year history of this annual charity golf tournament. In addition to serving a worthy cause, tournament participants enjoyed a day of golf, contests, raffle prizes, a catered dinner, and awards ceremony.

“It was heart-warming to see our employees and friends come together to support Gary’s children, who both plan on pursuing college degrees,” said Bill Riley, a principal in Reznick Group’s Baltimore office. “We could not have asked for a better day of golf and fun to honor the memory of our friend and former colleague.” Reznick Group’s annual golf tournament began more than 10 years ago to provide financial support for the son of a Reznick Group employee who had been diagnosed with a rare blood disease. Each year, the firm chooses a different charity to support. n

Painting classrooms and hallways

Elfant Wissahickon Realtors donate a day

The volunteers of Elfant Wissahickon Realtors and Martin Elfant Inc. at the Stanton school. Philadelphia, PA — On August 7th, the agents and staff of Elfant Wissahickon Realtors and Martin Elfant, Inc. Real Estate joined school and community stakeholders at the EM Stanton School at 16th and Christian Streets for a Day of Service. The volunteers spent the day painting classrooms and hallways in vibrant colors. Both companies have become sponsors of the Supporters of Stanton, and felt it important to combine financial contributions with volunteer work. “Volunteer effort is one of the best ways to get instant gratification with virtually no strings attached. The folks from Elfant Wissahickon and Martin Elfant were thrilled to be given the opportunity to participate in a beautifully organized initiative and we all had a ton of fun,”

said Bob Elfant, a co-owner of both companies. Elfant Wissahickon has a tradition of service to local schools and their students. Earlier this year, the agents participated in a day of service at JS Jenks School in Chestnut Hill, cleaning out closets and reading to children. This past Saturday, along with the Neil Kugelman Team, Elfant Wissahickon supported the Back to School event held each year by the Concord School House Historic Site, providing backpacks filled with school supplies to children of low-income families in the NW neighborhood. All of these contributions are part of Elfant Wissahickon’s “Building Community” initiative, encompassing a commitment of $20,000 and 2000 hours of community service throughout the Philadelphia area. n

Maxwell Systems 2012 named to the Constructech 50

Mechanical Contractors Association & Local 638 help to raise $2.5 million

KING OF PRUSSIA, PA — Maxwell Systems, Inc. announced that it has again been named to the Constructech 50, a listing of the most influential construction technology providers with a strong and ongoing market presence. Maxwell Systems was honored by the editors of Constructech who reported: “Many solution providers claim to have the fully integrated software offering figured out, but Maxwell Systems is one of the few that clearly delivers. The company demonstrates it is not afraid to dig deep in order to provide the right set of technology that fit its customers’ needs, both now and for the long run.” “As we con-

Long Island, NY — Sophia’s Cure Foundation, a charity dedicated to finding a cure for Spinal Muscular Atrophy (SMA) raised nearly $100,000 at a Long Island City fundraiser in late August. The event was the latest by the group to find a cure for a terminal disease. Sophia Gaynor was diagnosed in 2009 with Spinal Muscular Atrophy Type 1, a disease that ravages the body leading to acute paralysis and the need for respiratory support and a feeding tube. Her parents, Vincent and Catherine Gaynor, launched Sophia’s Cure Foundation to raise money to find a cure for the disease. The 100% volun-

tinue to address the evolving technology needs of construction companies, we enhance and innovate our software for construction management, as well as support and services, to help businesses be more productive and profitable,” said Jim Flynn, president and CEO of Maxwell Systems. “We are honored that Constructech has recognized our development efforts, our resource investments, our customer engagement practices, and technology leadership in the industry.” Peggy Smedley, editorial director, Constructech magazine, said: “The evolution of technology solutions can shake up the marketplace. It may give newer companies a

chance to establish themselves in the arena, and it can also let longtime players prove they are committed to the industry. This year’s winning companies are giving builders and contractors solid solutions on which to build, and continue to transform.” Companies nominated for the Constructech 50 are judged on a variety of criteria, including having a strong product/service aimed at the construction industry, ongoing customer satisfaction and growth, as well as outreach and educational efforts for the construction industry, among others, and the listing is determined by the editors of Constructech magazine. n

teer organization has raised nearly $2.5 million for SMA research in just three years. There is no treatment or cure for SMA yet, but groundbreaking research, partially funded by Sophia’s Cure, is working on a potential cure so that future generations may not suffer from this heinous disease. “We are humbled by the support of the Mechanical Contractors Association, Steamfitters and other unions in the fight against SMA,” said Vincent Gaynor, a union steamfitter with Local 638. “More than 125 people attended the fundraiser and we are now planning to make it an annual event.” n

Owners, Developers & Managers Mid Atlantic Real Estate Journal — August 31 - September 13, 2012 — A

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Gentile and Fasano of the Philadelphia office close $2.45m sale in South Harrison

Marcus & Millichap sells two self-storage facility building’s totaling 118,750 s/f in New Jersey

SOUTH HARRISON, NJ — Marcus & Millichap Real Estate Investment Services has announced the sale of South Harrison Self Storage, a 66,750 s/f self-storage facility property located in South Harrison, according to Spencer Yablon, VP/regional manager of the firm’s Philadelphia office. The asset commanded a sales price of $2.45 million. Bob Gentile, an investment specialist in Marcus & Millichap’s Philadelphia office, had the listing to market the property on behalf of the seller. The buyer was also secured by Gentile. Michael Fasano, Broker, assisted in closing this transaction. South Harrison Self Storage is located at 500 Tomlin Station Road. “The facility was built in two phases and occupancy is steadily increasing,” noted Gentile. “We’re starting to see an uptick in transactional velocity in the self-storage space

South Harrison Self Storage as fundamentals improve and the economy stabilizes. There are more buyers today than there were a year ago,” he added. The facility installed solar energy panels on the roof to reduce energy expenses and produce additional income. South Harrison Self Storage offers all amenities including climate control units. Marcus & Millichap New Jersey office announced the sale of Moore Self Storage, a 52,000 s/f self-storage facility property located in Neptune, NJ. Converted from a clothing

manufacturing building into a self-storage center in 1997, the property offers 499 climate controlled units and 105 non climate controlled units. At the time of sale the property was about 85% occupied. Richard Schontz, Dan Burkons, Mike Mele, and Christopher Munley with the assistance of Fasano, had the listing to market the property on behalf of the seller, a limited liability company and secured the buyer, an out-of-state investor. The buyer was selected

Moore Self Storage after a national marketing campaign. There were several qualified offers including local, regional, and national self-storage operators. “Currently, the market is experiencing a high demand for quality self-storage properties. When a quality property hits the market we are receiving a large number of offers with aggressive terms. This buyer was ultimately selected because they were a very reputable company and they were willing to assume an existing loan which saved the seller several thousand dollars in

penalties.” said Rick Schontz a member of the listing team. Dan Burkons, another one of the listing agents, said, “Self storage assets are finding Buyers willing to pay strong prices because of good market fundamentals, and also because of low interest rates. In this case a new loan was not part of the equation (due to the assumption of the existing mortgage) but the buyer was able to get the property at a discount by enabling the seller to avoid payment of a stiff prepayment penalty.” n

Kislak completes $11.75m New Jersey multifamily sales WOODBRIDGE, NJ — The Kislak Company, Inc. recently completed five sales transactions throughout New Jersey totaling $11.75 million. In separate transactions, a 90unit property i n A s b u r y Joni Sweetwood Park sold for $4.5 million; a 45unit property in East Orange sold for $2.9 million; a 47-unit property in East Orange for $1.6 million; two properties with a total of 39 units in Plainfield sold for $2.1 millon and two properties with a total of 16 units in Jersey City sold for $650,000. The Asbury Park sale was of Frederick Douglas Apartments, a 90-unit garden apartment complex located two blocks from the city’s train station and only a few blocks from the beach and the city’s vibrant downtown commercial

district. Constructed in 1971, the property consists of seven two-story brick apartment buildings with a combination of one- and two-bedroom units. Senior vice president Joni Sweetwood represented both parties in the transaction pursuant to an exclusive listing agreement. “Asbury Park is becoming increasingly popular for residents and investors alike as the revitalization of the city proceeds,” said Sweetwood. “The area has become trendier with restaurants, shops and nightlife. People want to live there. Occupancy at the property is nearly 100% and rent concessions, which had been offered in the past, are no longer needed to attract tenants.” The purchaser assumed the seller’s existing financing. The mortgage assumption was facilitated by Arbor Commercial Mortgage. The seller was represented in-house and the purchaser was represented by Richard Kelin, Esq. of Feinstein, Raiss,

Kelin & Booker, LLC. The sale marked the second transaction that Kislak that handled on behalf of each of the seller and purchaser. The first East Orange sale was of a 45-unit four-story masonry building with elevator service. Sweetwood also represented both parties in the transaction pursuant to an exclusive listing agreement. Constructed in 1940, the property had been owned by the same owner since 1979. “The building has an attractive lobby, very large one-, two- and three-bedroom units and garage parking and is situated on one of the best and most desirable Sts. in the city,” added Sweetwood. “The property is within close proximity to the major commercial centers of Newark, NJ and New York City and is within walking distance of city parks and city recreation.” “East Orange is in the heart of Essex County, a major submarket within the tri-state

region,” added Holland. “Demand for housing is strong given the area’s population density, proximity to New York City and many other employer centers, and abundant mass transit. Occupancies are at or near 100% in many communities, although there are pockets of distressed properties in some of the more urban areas.” The purchaser obtained a new first mortgage at an attractive rate. The seller was represented by Jonathan Mehl, Esq. and the purchaser was represented by Melanie Scroble, Esq. of Ansell, Grimm & Aaron, PC. The second East Orange sale was of a 47-unit four-story brick building. The transaction was a distressed sale wherein Sweetwood facilitated the allcash sale of the mortgage on the property and the transfer of the deed, both to the purchaser. The Plainfield sales were of two neighboring properties on

Eighth and Ninth Sts. with a total of 39 units. Vice president Alan Sommer Storozum represented the seller and Sweetwood represented the purchaser. “In Plainfield, there have been sales of both market rate properties and distressed properties as there had been several distressed or bank-owned properties in the area,” added Sweetwood. The owner initially purchased these properties from a lender at a discount. We then marketed the properties on an exclusive basis and sold them at a market rate price.” The Jersey City sales were of two neighboring properties on Arlington St. with a total of 16 units. The seller had previously purchased a distressed mortgage on the property and foreclosed. Sales associate Scott Davidovic represented the seller and Sweetwood represented the purchaser. The seller provided the purchaser with a purchase money mortgage. n

10A — August 31 - September 13, 2012 — Owners, Developers & Managers — Mid

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Owners, DevelOpers & Managers Annual Excellence in Construction Awards

Keystone Chapter of ABC honors High Construction

ANCASTER, PA — THE Keystone Chapter of Associated Builders & Contractors recently honored the work of High Construction Company in its 2012 Excellence in Construction Awards. Awards were presented to High Construction for its role in the following Lancaster, Lebanon, and Cumberland County projects (award category in parentheses): Lawn, PA. Turnpike Service Plaza – Award of Excellence (Commercial $2 to 10 million) – Lebanon/Cumberland Counties Tyson Foods Inc. Renovation – Award of Merit (Renovation more than $1 million) – Lancaster County “The commitment and exper-

Tyson Foods Inc. Renovation - Award of Merit tise of the High Construction team in delivering outstanding work is always gratifying to me,” said Matt Twomey, president of High Construction.

“These awards recognize the talent and professionalism of our co-workers, as well as the exceptional vision of our clients and community.” n

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BLANDON, PA — Schlouch Incorporated has been named by Sand Springs Development Corp. to prepare a residential site for Sand Springs Phase 4 being developed by Tuskes Homes in Butler Township, Luzerne County. The site will feature 10 single family homes and 36 townhouses. Schlouch is providing earthwork, sanitary and storm sewers, water line installation, sediment/erosion control, roads, paving and seeding. Doug Gable is Schlouch’s site coordinator and Marty “MJ” Weller III is project coordinator/estimator. Work will be completed by Summer 2012. In Hamburg, Schlouch has been named by 3M Homes to prepare a 5-acre site located on State Street, Berks County for

15 buildings that will house 60 apartment units. Schlouch is providing clearing, grubbing, demolition, sediment/erosion control, earthwork, sanitary and storm sewers, water line installation, roads, building pads, concrete sidewalk, curbs, paving and seeding. The project also includes HOP improvements. In other news, Jeremy Keener is Schlouch’s site coordinator and Steve Nester is project coordinator/estimator. Work will be completed by Fall 2012. Kevin Reimert, a ﬂeet foreperson for Schlouch received the Certified Equipment Manager (CEM) designation from the Association of Equipment Management Professionals (AEMP). Prior to certification, Reimert

was rated on his experience and accomplishments in equipment maintenance management and successfully completed a comprehensive, 16-part competency-based examination, which tests general knowledge of the equipment maintenance and management profession. To maintain professional certification, an equipment manager must accumulate professional credits based on their involvement in continuing education and in the profession. Reimert joined Schlouch in 1997 as part of the co-op program with Berks Career & Technology Center. In 2000 he left to attend Universal Technical Institute in Houston, TX, and returned to SI in 2001 as a Certified Diesel Truck Technician. n

Mid Atlantic Real Estate Journal — Owners, Developers & Managers — August 31 - September 13, 2012 — 11A

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RENTON, NJ — The Jersey Shore section of the New Jersey chapter of the American Institute of Architects (AIA-NJ) announced six winners at its annual Service Awards event that recently took place at the Robert Meyner Reception Center at PNC Bank Arts Center in Holmdel. “We are delighted to present these awards, which celebrate the mission of AIA to promote the profession of architecture,” said Malcolm Burton, AIA, president of the Jersey Shore section of AIA-

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AIA-NJ annual Service Awards at the Robert Meyner Reception Center NJ. “We need to cultivate and maintain a new generation of talented architects, and making the public aware of their contributions to the profession through the Service Awards will help to meet this goal.” The Jersey Shore section presents Service Awards every year to celebrate exceptional achievements by members of the architecture profession as well as by architecture firms in Monmouth and Ocean Counties. The winners are chosen for their positive impact on the architecture profession and local communities through excellence in architectural design. The recipients were: Stephen Carlidge, AIA received the “Distinguished Service Award” for his roles as past president of AIA Jersey Shore and chair of the AIA-NJ Design Day Conference. Richard Tokarski Jr., AIA received the “Architect of the Year Award” for his regular involvement in pro bono work for non-profits in NJ. April Horvath, AIA received the “Young Architect of the Year Award” for her contribution to the redevelopment of Asbury Park. Alysa Antonis, a student at the Philadelphia University College of Architecture and the Built Environment received the “Intern of the Year Award.” Chanta Jackson received the “Resident of the Year Award” for several community service endeavors. Tokarski and Milleman Architects, an architecture firm received the “Firm of the Year Award” for their commitment to certain core values; their work on the Hope Center, a faith-based organization based in Jersey City. n

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Mid Atlantic Real Estate Journal — Owners, Developers & Managers — August 31 - September 13, 2012 — 13A

Owners, Developers & Managers Court-approved sale of mixed-use property

Keenan of Kislak completes $2.1m sale in Paterson, NJ

aterson, NJ — The Kislak Company, Inc. announced the $2.11 million sale of a mixed-use property with 15 residential units and five retail spaces on Main St. in Paterson. Sales associate Joseph Keenan represented both parties in the transaction pursuant to a listing agreement obtained by Kislak and approval of the United States Bankruptcy Court, District of NJ. The seller had previously sought Chapter 11 bankruptcy court protection and Kislak facilitated the court-approved sale of the property. “Given the volatility of the stock market, the dismal returns offered by banks and record low interest rates, more and more investors are seeking the steady and reliable returns offered by commercial real estate, especially apartments,” said Keenan. The sale was an all-cash transaction. The seller was represented by William Schey, Esq. and the purchaser was represented by Jack Darakjy, Esq. n

BRAVO! wins industry’s highest safety award Green Brook, NJ — The Building Service Contractors Association International (BSCAI) has awarded BRAVO! Group Services the 2011 BSCAI Safety Award for large employers. This award represents the industry’s highest safety award. Since the company inception, they have invested in the development of an effective and comprehensive training program tailored to meet their business and customer’s needs. As part of their continued effort to enhance and improve BRAVO! safety training program, they have partnered with their insurance company providers and suppliers to assist in the education of their staff through site visitations and introduction of new technology and environmentally preferable products that would help each member of their team perform safely and efficiently. BRAVO! also announced that James Vosburg, regional VP, has been recognized by the American Hospital Association as a Certified Healthcare Environmental Services Professional. n

15 residential units and five retail spaces on Main St. in Paterson

14A — August 31 - September 13, 2012 — Owners, Developers & Managers — Mid

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In Northern New Jersey

Gebroe-Hammer averages two investment sales per week

IVINGSTON, NJ — As multi-family vacancies and interest rates continue to record historic lows, property owners have the motivation to sell and buyers have the means to enhance their portfolios, according to GebroeHammer Associates. Year-todate, the Livingston based investment brokerage firm has been consistently closing an average of two transactions per week, the latest of which involve four separate deals closed within a two-week timeframe. The transactions totaled 112 units throughout Essex, Union and Passaic counties and netted a combined $7.25 million. In the largest sale, sales associate Nicholas Nicolaou exclusively represented the owner and identified the buyer in the $3.05 million trade of 97-99 Pine St. located in Montclair. The 28-unit two-building complex is comprised of a mix of one- and two-bedroom layouts. “True to its roots as a ‘railroad suburb,’ which dates back to the 1870s when settlers sought easy access to New York City, Montclair remains a popular commuter hub today where multi-family occupancies are in the high 90th percentile, rents are competitive and investors

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97-99 Pine St. located in Montclair, NJ are vying for off-market acquisitions,” said Nicolaou. Urban markets also continue to attract multi-family investors, many of whom are targeting Northern New Jersey cities where apartment buildings are playing an important role in renewal initiatives. Recent transaction highlights include the $1.8 million trade of 23 units, including three commercial units, at 150-152 Elmora Ave., in Elizabeth and a shortsale of 27 units for $600,000 at 42-52 Essex St., in Paterson, arranged by sales associates Stephen Tragash and Debbie Pomerantz, respectively. Executive vice president David

Oropeza also facilitated the $1.8 million sale of a 39-unit building in a quiet East Orange residential neighborhood, near shopping and transportation. “North Jersey’s cities have a high density of post-war era apartment buildings, which are fully occupied and in-demand among each city’s workingclass tenant base, as well as investors who recognize the long-term potential of these performing properties,” said Tragash, who specializes in the Elizabeth market. “Multifamily properties are a healthy investment choice right now and investors are just eating them up.” n

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Owners, DevelOpers & Managers Two buildings total 818,724 s/f in Washington, DC

TIAA-CREF awards Cassidy Turley property management

ASHINGTON, DC — Cassidy Turley has been selected by TIAA-CREF to provide leasing and property management services for Franklin Square, located at 1300 Eye St., and City Center, located at 1401 H Street, in Washington, DC. Cassidy Turley’s Eli Barnes, Will Stern, Bobby Schwartz, Darian LeBlanc and Laurie Mc Mahon will handle the leasing of the buildings, and Ben Comm, Dianne Twinam and Lee Dunfee will handle the property management. Franklin Square and City Center are both trophy buildings located in the East End submarket, with views of Franklin Square Park. Franklin Square was designed by world-renowned architects Philip Johnson and John Burgee, and has 467,937 s/f of office space. City Center has 350,787 s/f of office space. n

River Drive fi nalizes renovation project at Mack-Cali offi ce building PRINCETON, NJ — River Drive Construction Co. completed a renovation project for Regus at the 149,000 s/f, four-story Princeton Overlook I, an office building located at 100 Overlook Center. River Drive served as general contractor. The project entailed the creation of 16 new offices; renovations of the business lounge, service pantry and restrooms; renovations of the elevator lobby, reception area, two video conference rooms, a large boardroom and office corridors, including new finishes consisting of carpet, porcelain tile, paint, wall coverings and ceilings. . The two-phased, 10-week renovation was done on behalf of Regus, who are tenants at the facility. “Since the Regus space was occupied by business people throughout the course of construction, we made every effort to complete the work with minimal disruption to their clients,” said Joseph Langan, president of River Drive. Princeton Overlook I is a class A office building owned by Mack-Cali Realty Corp. The architect on the project was WKMC Architects. n

Mid Atlantic Real Estate Journal — Owners, Developers & Managers — August 31 - September 13, 2012 — 15A

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Sustainable features include occupancy sensors, day lighting and high tech air conditioning

DMR Architects designs LEED Silver academic building

DISON, NJ — David B. Crabiel Hall, a 36,000 s/f academic building designed by DMR Architects, a full-service architectural firm, achieved Leadership in Energy Efficiency and Design (LEED) Silver Certification from the United States Green Building Council (USGBC). The building, on the main campus of Middlesex County College in Edison is the College’s first sustainable building, and DMR Architects’ fourth building to receive LEED Certification. On July 17, Crabiel Hall received LEED Silver Certification, scoring 34 points from the USGBC. LEED certification is the nationally accepted benchmark for the design, construction and operation of high-performance green buildings. Dedicated to progressive, innovative and sustainable, high-quality design, DMR provided complete architectural,

engineering and construction administration services for the two-story, 36,383 s/f academic space. The building includes classrooms, computer labs, administrative offices, a culinary demonstration lab, kitchen facilities and meeting

David B. Crabiel Hall rooms. Sustainable features include occupancy sensors in each room, day lighting, drought resistant plantings, high tech air conditioning units and boiler and a highly reflective elastomeric

roof coating. In addition, Low-VOC materials were specified and water use reduced 55% from a standard design through low-flow fixtures, waterless urinals and sink faucets. Energy use reduced 24% through

efficient, correctly-sized mechanical equipment. 92% of all construction waste was recycled and 19.8% of materials were manufactured locally to reduce emissions during transport. “We are particularly proud of the college’s decision to seek LEED certification for this project,” Obi Agudosi, AIA, senior vice president and principal of DMR Architects said. “At Middlesex County College, we designed an incredibly modern building that just happens to be located on a traditional college campus. The materials selected were environmentally responsible, durable and also complimentary to the existing buildings on campus. This was a very exciting project for DMR.” The $10 million project has been recognized with several other design awards, including a 2012 Project of Distinction by College Planning & Management. n

Code Environmental Svcs. completes Solis Partners’ 220kilowatt rooftop solar photovoltaic system installation Carteret, NJ — Code Environmental Services, a leading environmental and hazardous waste remediation firm announced that it has completed the installation of a 220-kilowatt rooftop solar photovoltaic (PV) system. Designed, engineered and constructed by Solis Partners, the system will offset approximately 70 percent of Code Environmental’s electricity consumption, is installed on the roof of its 50,000 s/f corporate headquarters building. “We’re pleased to announce the completion of the solar installation at Code Environmental,” said Jamie Hahn, cofounder and managing director at Solis Partners. “This rooftop solar PV Sys-

Code Environmental Services

tem showcases Code’s sustainability efforts and will provide consistent financial savings for years to come.” Built with 1,104 solar PV panels, the solar system will produce approximately 250,000 kilowatt-hours of electricity in the first year of operation. This equates to the reduction of more than 385,000 pounds of CO2 emissions, which is the equivalent of offsetting the power demand of 22 residential homes or removing 34 cars from the road each year. “Installing solar just made sense for us,” said John Tomassetti, vice president at Code Environmental. “We’re saving money on electricity costs and we are being environmentally responsible.” n

18A — August 31 - September 13, 2012 — Green Buildings — Mid

Atlantic Real Estate Journal

Green Buildings Financial Incentives for Energy Efficiency

For Our Multifamily Building Management wanted to cut energy costs, but our tenants wanted to be sure comfort levels stayed the same. With Pay for Performance incentives and a low interest loan from the NJ Economic Development Authority, we were able to upgrade the heating, cooling and water heating systems throughout the building. Now, we’re saving money every month on utilities and our tenants are happy too.

Finding Common Ground Can Be A Good Investment. To learn more about how Pay for Performance can save you money, visit NJCleanEnergy.com/P4P or call 866-NJSMART to speak with a program representative. NJ SmartStart Buildings® is a registered trademark. Use of the trademark without permission of the NJ Board of Public Utilities is prohibited.

www.marejournal.com

Mid Atlantic Real Estate Journal — Green Buildings — August 31 - September 13, 2012 — 19A

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Green Buildings By Michelle Berliner, Brookfield RE Opportunity Fund

Improving energy efficiency in data centers

he data center market has been considered, in many areas, to be a bright spot in the commercial real estate industry as more and more properties are being converted to accommodate data centers. While this trend is filling the need for more missioncritical facilities, it also poses a challenge from a sustainability perspective because these facilities consume a large amount of energy. According to the Department of Energy (DOE) in 2006, U.S. data centers used approximately 61 billion kilowatt-hours, accounting for about 1.5 percent of all U.S. electricity consumption. More recently, a 2009 paper from the DOE stated that the annual source energy use of a two-megawatt data center is equal to the amount of energy consumed by 4,600 typical U.S. cars in one year. As the number of data centers increases, so will the demand for energy. The DOE has been working in cooperation with other agencies and the private sector to set energy efficiency measurements, metrics and reporting conventions for data centers to find potential solutions that will still meet this growing

demand. According to the DOE, improving energy efficiency in data centers can have many benefits including: reducing business risk, lowering utility bills, reducing carbon emissions, and helping steer a company on a road of social responsibility. So what are some ways that developers and property owners can “green” their data centers? Look Toward the LED Light At Brookfield’s Convergence, in Whippany, NJ, one of green features includes LED lighting and lighting control systems. According to the DOE, the adoption of LED lighting in the U.S. over the next 20 years would reduce electricity consumption by 25 percent, save an accumulated $120 billion in energy costs, and reduce greenhouse gas emissions by 246 metric tons of carbon. And while tenants are already seeing results in cost savings with LED lighting, Convergence has also been able to reduce maintenance costs associated with replacing old halogen light bulbs throughout the campus.

Greening your HVAC System The cost to both heat and cool an entire office campus can be astronomical and will certainly have an impact on the bottom line for your tenants, especially if you’re using an antiquated HVAC system. Instead, consider using water source heat pumps like the system installed at Convergence. Water heat pumps have four times the heating and cooling carrying capacity than other systems more typically found in other office buildings. While the cost to install may be a bit more, water source heat pumps have already proven lower operating costs for Convergence. Another issue that a quality green HVAC system can address is indoor air quality for tenants. The more fresh air in a building, the better. Consider installing independent ventilation units within each building. This will also provide free seasonal cooling. At Convergence, the use of unitary water source heat pumps promotes multiple zoning, system redundancy, energy efficiency, and individual comfort levels. The campus is continued on page 21A

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20A — August 31 - September 13, 2012 — Green Buildings — Mid

Atlantic Real Estate Journal

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Green Buildings Hutchinson Energy Services

Report sheds light on energy efficient economy

lash back to the energy crises during the 1970s where energy prices skyrocketed and ration cards and flag systems were implemented to deal with the situation. Energy e f f i c i e n c y Ed Hutchinson programs - born out of this era- helped electric utility customers reduce and manage their costs and provide a lowcost, high-value resource.

A new report by the American Council for an EnergyEfficient Economy (ACEEE),

transform the electric utility industry. “This report sheds light on

Direct Install is created specifically for small to medium-sized facilities with a monthly peak demand of 150 kW or less. Its streamlined process makes it easy and affordable to replace HVAC, lighting and other outdated operational equipment with energy-efficient alternatives. Three Decades and Counting: A Historical Review and Current Assessment of Electric Utility Energy Efficiency Activity in the States, examines the history of these programs and their role in helping to

the achievements on customer energy efficiency programs over the last 30 years,” said Ed Hutchinson, president, Hutchinson Mechanical Services. Electric utility restructur-

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ing led to a decline in program funding in the late 1990s. Since then, utility energy efficiency programs have grown rapidly. In 2010, the total budget for electric utility customer energy efficiency programs was $4.6 billion, up from $1.1 billion spent on such programs just a decade earlier. According to Hutchinson, “More and more, utilities, regulators and policymakers recognize that it is cheaper to reduce demand through energy efficiency programs than it is to construct, fuel and operate additional electric

hutchbiz.com

generating plants.” The ACEEE report found that customer energy efficiency programs help reduce energy costs, yield significant environmental benefits and can improve system reliability. The report also states that energy efficiency remains the lowest cost energy resource available to utilities by a wide margin. Saving a kilowatthour of electricity as the result of a customer energy efficiency program is about one-third the cost of generating a kilowatthour from a power plant. Furthermore, the report cites the emergence of energy efficiency as a valuable, cost-effective and significant energy resource that has established the foundation for a new era of energy efficiency. “We educate businesses about rebates, programs and energy efficient services that help reduce energy consumption and improve the bottom line,” said Hutchinson. One popular program, Direct Install from New Jersey’s Clean Energy Program, pays up to 70 percent of the cost of energy efficiency upgrades for businesses and local governments. Hutchinson Mechanical Services is a participating Direct Install contractor in Gloucester, Burlington, Camden, Ocean and Monmouth, New Jersey Counties. “Our biggest challenge is getting businesses to believe this program is real, because the benefits are so amazing.” Direct Install is created specifically for small to medium-sized facilities with a monthly peak demand of 150 kW or less. Its streamlined process makes it easy and affordable to replace heating cooling & ventilation (HVAC), lighting and other outdated operational equipment with energy-efficient alternatives. The 70% incentive dramatically improves payback on the project. Hutchinson Energy Services offers: • Energy Analysis • Comprehensive Energy Solutions • High Efficiency Lighting • Solar • Building Automation and Controls • Mechanical Hvac Services • System Commissioning Contact Hutchinson to schedule an energy assessment appointment. n

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Mid Atlantic Real Estate Journal — Green Buildings — August 31 - September 13, 2012 — 21A

Green Buildings Designed to meet LEED and Energy Star certification

Walters Group breaks ground on eco-friendly Laurel Oaks Apartments

ARNEGAT, NJ — Walters Homes has broken ground on Laurel Oaks, a new apartment community in Barnegat. The mid-rise multifamily project will feature 94 apartment homes in four buildings. The income-restricted housing project is slated to open in the summer of 2013. Each unit will be equipped with Energy Star energy-efficient appliances, including washer/dryer and dishwasher. “As more people enter the rental market, the need for

Improving energy efficiency in data centers continued from page 19A equipped with a state-of-the-art Building Management System with direct digital controls for further efficiency. Consider Your Natural Environment Because a critical part of most data centers is seclusion and security, many are set back from the road with Mother Nature providing her own sense of security. So it’s important for property owners to preserve the natural habitat that make up a building’s surroundings. Convergence is located on a 67-acre site, which is considered part of a natural wetlands preserve that fosters the growth of sensitive plant and animal life. The storm water management system was designed to control storm water runoff by preventing flooding in the area, as well as, to promote water quality as it is recharged into the natural aquifer. While Convergence has a firm grasp on the future, it has deep historic roots as well. The site has a long history as home to some of the world’s leading corporations and even holds a place in the history books. Developed by International Telephone and Telegraph in the 1950s, the property’s first building housed the switching equipment for the famous “Red Phone,” the hotline that provided secure communication between the White House and the Kremlin during the Cold War. Figuratively speaking, Convergence has gone from red to green and is issuing a new call: the push for energy efficiency. Michelle Berliner is VP and head of asset management for Brookfield Real Estate Opportunity Fund. n

Laurel Oaks

Sometimes Replacing The Light Bulbs Just Is Not Enough.

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Sustainability Analysis • Retrocommissioning Benchmarking • Energy Auditing

affordable housing increases,” stated Ed Walters, Jr., president of the Walters Group. The environmentally friendly project will be built using green building methods and materials. The entire project is designed to meet LEED (Leadership in Energy and Environmental Design) and Energy Star certification. Located in southern Ocean County, the community will be pedestrian friendly and situated near shopping and dining. In addition, the Garden State Parkway and Route 9 corridor pass through the township and provide access to Route 72. n

22A — August 31 - September 13, 2012 — Green Buildings — Mid

Atlantic Real Estate Journal

www.marejournal.com

Green Buildings Renovations incorporate green features and materials

Riverhead Central School District & BBS breaks ground at Phillips Avenue Elementary School

iverhead, NY — Riverhead Central School District superintendent Nancy Carney; BBS Architects, Landscape Architects and Engineers principal Roger Smith, AIA, LEED AP; Riverhead Board of Education president Ann Cotten-DeGrasse; and Phillips Avenue Elementary School principal Debra Rodgers led the groundbreaking ceremony for the $3.4 million renovation project at the Phillips Avenue Elementary School. The renovation kicks off the first phase of the district-wide construction projects valued at

Shown from left: Steven Brugge, Nicolas Andreadis, Lawrence Salvesen, AIA, LEED AP, Roger P. Smith, AIA, LEED AP, Nancy Carney, Ann Cotten-DeGrasse, Gregory Meyer, Debra Rodgers, Susan Koukounas, Stephen Hudson, Sam Schneider, Jeffrey Falisi and Mark Finnerty

$78 million. “The approval of the bond issue that allowed the Phillips Avenue School’s renovation to begin is a very positive sign of the local communities’ willingness to invest in educational infrastructure, both on Long Island and nationwide,” said BBS principal and lead architect Roger Smith, AIA, LEED AP. The renovated school will incorporate numerous green features and materials. The roof will feature thermal insulation in excess of the local building code requirements and a reflective TPO surface to reduce

the heat island effect. The interior materials will contain a high recycled content. The construction materials, such as asphalt and concrete will be sourced locally to reduce the environmental impact of transportation. The sub-base beneath the new parking will be constructed of Recycled Content Aggregate. n

Thornton Tomasetti promotes three in Washington D.C. Washington, DC — The Thornton Tomasetti board of directors and managing principals announce the promotion of R. Wayne Stocks, P.E., LEED AP BD+C to managing principal, R. Wayne Stocks M a r k T a maro, P.E., LEED AP BD+C to senior principal and Zachary Kates, P.E., LEED AP BD+C to vice Mark Tamaro p r e s i d e n t . All are based in the D.C. office of the international engineering firm. Stocks leads the firm’s midZachary Kates Atlantic and South U.S. region, drawing on his more than 25 years of experience in structural design and renovation. Tamaro has nearly 20 years of experience in structural design and the investigation and renovation of existing structures, including historic buildings and monuments. He specializes in large-scale, federal projects and is wellversed in design-bid-build, fast-track and design-build delivery methods. Kates has 14 years of experience in the structural design of new buildings and the renovation of existing and historic structures. He has performed a variety of structural investigations and peer reviews in addition to providing expert witness services. n

Mid Atlantic Real Estate Journal — Green Buildings — August 31 - September 13, 2012 — 23A

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24A — August 31 - September 13, 2012 — Green Buildings — Mid

Atlantic Real Estate Journal

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Robert F. Kennedy Jr. to Keynote USGBC NJ 10th Anniversary Gala & Awards Dinner Letter from the Executive Director BOARD OF DIRECTORS CHAIR Anastasia Harrison, AIA, LEED AP Gensler VICE CHAIR Wayne D. DeFeo, LEED AP DeFeo Associates TREASURER Ed Seliga Advanced Solar Products, Inc. SECRETARY RJ Donnelly, LEED AP Donnelly Industries, Inc. PAST CHAIR William Amann, P.E., DCEP, LEED AP M & E Engineers, Inc DIRECTORS David Cardella Cardella Waste Services Zach Gallagher, P.E., LEED AP Alliance Environmental, LLC Bill Gates, LEED AP BD&C Hunt Construction Anthony Marano Marano Group, Inc. Brad Miller, P.E., P.P. NJ Meadowlands Comission Joe Porrovecchio, LEED AP, CRM Carbon-Key, LLC Paul Qvale, LEED AP Hillmann Group Lisa San Filippo, AIA, LEED AP, BD&C Turner Construction Co. Faith Taylor Wyndham Worldwide Andrew Topinka, CPMR Technical Group Services, Inc Ed Walsh, P.E. The Walsh Company Gregg Woodruff, PP, AICP, LEED AP, BD&C Langan Engineering & Environmental Services, Inc. EXECUTIVE DIRECTOR Florence Block LEED Green Associate GENERAL COUNSEL Harry E. McLellan, Esq, LEED Green Associate McLellan & Associates, LLC CHAPTER COORDINATOR Mary Ellen Garrigus Communications & Membership Coordinator Medea Villere’

www.usgbcnj.org

Dear Friends and Colleagues, On behalf of the USGBC NJ, I am pleased to welcome visionary environmental business leader and advocate Robert F. Kennedy Jr. as keynote speaker for our 10th Anniversary Gala & Awards Dinner on October 11, 2012 at the new Revel in Atlantic City. We are thrilled to have Robert F. Kennedy Jr. speak at this year’s Gala. He is an inspiring voice in the field of environmental advocacy and a perfect fit for our 10th anniversary celebration. Kennedy was named one of Time magazine’s “Heroes for the Planet” for his success in helping Riverkeeper, New York’s clean water advocate, lead the fight to restore the Hudson River. The group’s achievement helped spawn more than 160 Waterkeeper organizations across the globe. In 2009, he was named one of Rolling Stone’s “100 Agents of Change.” As a keynote speaker, Robert F. Kennedy Jr. delivers a passionate defense of the environment and of how its continued neglect affects the future of the planet and the health of future generations. He FLORENCE BLOCK advocates a direct and aggressive approach against entities whose policies accelerate pollution and maintain the status quo. Kennedy calls upon all people to actively make a difference in their world. The USGBC NJ’s Annual Gala is the event of the year for green building and sustainability professionals in the tri-state area. Last year, keynote speaker Newark’s Mayor Cory Booker wowed the crowd. This year the event is black tie optional, with music and dancing to follow the speakers and presentation of awards. The event’s location proves to be a star in its own right. The entire site is visually striking, and the food is top notch. There is so much to see and do at Revel, that the New York Times cleverly noted, “Oh, and there’s a casino, too.” For 10 years USGBC NJ has served as the meeting ground, catalyst, and propeller for sustainability-minded individuals in building-related professions. Through the NJ Chapter, LEED and green building in general, have found fertile ground in New Jersey. USGBC NJ is thrilled to be celebrating our 10th anniversary at Revel with Robert F. Kennedy Jr. and we hope you will join us. For more information, feel free to visit www.usgbcnj.org/events. Sincerely, Florence Block Executive Director USGBC NJ

Chapter Events 10/11/12 – USGBC J 10th Anniversary Gala and Awards Dinner, Revel, Atlantic City, NJ 9/20/12 – LEED International: Review of LEED Projects in Mexico & South America, Back to Nature, Basking Ridge, NJ 9/14/12 – “Show Me the Money” – a special half-day seminar Salem Community College, Carney’s Point, NJ

For details on all USGBC-NJ events, visit www.usgbcNJ.org

Number of New Jersey chapter members:

1169

Number of USGBC member Companies in NJ:

293

Number of LEED Accredited Professionals in NJ:

3175

Number of LEED registered projects in NJ:

404

Number of LEED certified projects in NJ:

176

25A — August 31 - September 13, 2012 — Owners, Developers & Managers — Mid

Atlantic Real Estate Journal

www.marejournal.com

New Jersey Apartment Association www.njaa.com What are some of your property’s biggest maintenance challenges? A leaky faucet in 103? A non-flushing toilet in 219? Maybe a

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CAMT is the only Apartment Maintenance program to be nationally accredited by the American National Standards Institute (ANSI), a private nonprofit organization that administers and coordinates the U.S. Voluntary standardization and conformity assessment system. The National Apartment Association Education Institute (NAAEI) offers “blended learning”, integrating online coursework with in-classroom study and is a combination of NonTechnical and Technical courses, specifically designed for apartment maintenance professionals to meet the needs of today’s apartment residents. All modules for NJAA’s 2012 CAMT will be held at NJAA Headquarters in Monroe Township, unless otherwise noted. The CAMT discounted series fee for all 10 modules is $800 for members ($200 Savings) and $1,000 for non-members. For each CAMT module fee the cost is $100 for NJAA members and $150 for non-members. A continental breakfast and lunch for both days is included. Heating, Ventilation & Air Conditioning (HVAC) I & II (2 Modules) -September 5 & 6 Presented by Mike Bondurant, Air Experts (courtesy of the Home Depot), NJAA Headquarters Interior & Exterior Maintenance I & II (2 Modules) - November 15 Presented by Todd Sajewicz, Home Depot

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26A — August 31 - September 13, 2012 — Owners, Developers & Managers — Mid

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Mid Atlantic Real Estate Journal — Owners, Developers & Managers — August 31 - September 13, 2012 — 27A

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28A — August 31 - September 13, 2012 — Owners, Developers & Managers — Mid

Atlantic Real Estate Journal

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Associated Builders and Contractors www.abcdelaware.com ABC Delaware Chapter

ABCares volunteers serve lunch at Emmanual Dining Hall

ABC Delaware members as part of ABCares, have been helping out once a month serving lunches at the Emmanual Dining Hall in Wilmington. “ABCares is all about members making a difference in their community by giving of their time and effort, to have a positive impact on the quality of life in the First State,” said Committee Chair Sallie Ann Conner. “We are have excited that we’ve been able to help those who are less fortunate and struggling during these tough economic times.” The ABCares teams have been responsible for serving the lunches on the second Tuesday of the month since early this year. “And the great news is that our schedule is filled through the end of the year,” said Conner. “Thanks to all the volunteers who have given of their time. It is greatly appreciated by all those who visit the dining hall.”

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Mid Atlantic Real Estate Journal — Owners, Developers & Managers — August 31 - September 13, 2012 — 29A

Associated Builders and Contractors www.abceastpa.org ABC Eastern Pennsylvania Chapter ABC to Offer Renowned Power Communication Training Rapport Leadership International, an educational company dedicated to developing and empowering talented people, will present Power Communication at ABC Eastern Pennsylvania Chapter Sept. 26 to 28. Participants identify their learning and communication preferences — visual, auditory, and kinesthetic. Communication tools and techniques are practiced one-on-one, in small teams, and in large group exercises. Students learn to build rapport and gain active listening skills for improving all relationships — business and personal. This class may be taken with co-workers and/or family members. Whether you want to increase your sales productivity, or want to build your agreement gaining skills, this interactive program will enhance your communication effectiveness immediately. Contact John Judge at jjudge@abceastpa.org or 610-279-6666 to register or for more information.

Young Professionals Host Business Development Panel A panel of three experienced business development professionals shared their experience and lessons with members of ABC Eastern Pennsylvania Chapter’s Young Professionals group in August. Mark McMahon (Delran Builders), Seth Myers (Allan A. Myers) and Paul Langan (The Tri-M Group) covered a variety of topics including: breaking into a new market, introducing a new product or service, advice for advancing their careers, recovering from a gaffe, following up on an initial meeting, identifying key contacts and more. The panel was part of the new Young Professionals program, a leadership development program for ABC member employees ages 40 and younger. Contact Jessica Pomraning at 610-279-6666 or jpomraning@ abceastpa.org for more information.

School Starts Sept. 10 for Apprentices and Craft Trainees The next generation of skilled workers will head back to school the week of Sept. 10 at the ABC Eastern Pennsylvania Chapter Training Center in Harleysville. Enrollment is now open for ABC Eastern Pennsylvania Chapter’s registered apprentice and craft training programs. www.abceastpa.org/Education/Apprenticeship_Trust_.aspx ABC’s programs are fully accredited by the U.S. Department of Labor, the Pennsylvania Apprenticeship and Training Council, and the National Center for Construction Education and Research. The awardwinning program features daytime training at the ABC Training Center. Students attend class one day a week for a total of 20 days per year. They receive a number of certifications while in the program including an OSHA card, an NCCER transcript, and, if registered with the Pa. Apprenticeship Council, a journeyperson’s certification. The journeyperson certification is regularly required for local licensing requirements. ABC currently offers training in electrical, plumbing/pipefitting, carpentry, masonry, sheet metal and sprinklerfitting and also offers concrete, electronic systems technician, HVAC, solar panel certification, roofing and painting courses. The training features an exceptional amount of hands-on projects. Classes for the 2012-2013 school year begin the week of Sept. 10. If you have not visited the ABC Training Center in Harleysville please call Bill Henry at 610-573-8524 today to learn more and schedule a tour. Download the application at abceastpa.org.

Welcome New Members

Upcoming Events

B2B CFO

Elections 101, ABC East Norriton office Wilkes-Barre/Scranton Legislative Breakfast, Sept. 14, Mountain Laurel Resort

CLP Painting, Inc. Magellan Search Group

Member Recognition Breakfast, Sept. 19, Holiday Inn Kulpsville

Nyce Construction Services

New Member Orientation, Oct. 4, ABC East Norriton office

Servpro of Norristown/Manayunk

Delaware/Chester Legislative Breakfast, Oct. 5, Springfield Country Club

Tab Tek, Inc.

Networking Night, Oct. 17, Plumsteadville Inn

30A — August 31 - September 13, 2012 — Mid

Atlantic Real Estate Journal

www.marejournal.com

People on the Move ‘Renaissance Man’ of business, arts and culture

The Kislak Company’s Jay I. Kislak celebrates 90th birthday

oboken, NJ — Jay I. Kislak, who is acclaimed for his leadership in business, art and cultural realms, turns 90 this year and is marking the milestone with a variety of events. Most recently, he returned to the city where he was born for a gala evening with family, friends and longtime colleagues. The event was held in the Chandelier Room of the W Hoboken. More than 200 well-wishers gathered to share stories and toast the accomplishments and contributions of Kislak, with many describing the honoree with such words as “brilliant,” “charming,” “hero,” “role model,” “people person,” and a “true Renaissance man.” The son of Jewish immi-

Jay I. Kislak grants from Eastern Europe, Kislak grew up to take the helm and expand the real estate firm that his father, Julius Kislak, founded in New Jersey in 1906. Today, with its headquarters in Miami, Florida, the Kis-

lak Organization is thriving nationwide. In addition to the multifamily and commercial real estate brokerage firm that continues to be a leader in the Northeast, Kislak’s business ventures include real estate investment, multifamily apartment ownership and management, and tax certificate investment funds. Kislak is a graduate of the Wharton School of Finance at the University of Pennsylvania, World War II Naval Aviator, patron of the arts and education, and student of history. In 2004, the Jay I. Kislak Foundation donated more than 4,000 items from the collection to the Library of Congress as an extraordinary gift to the American people. n

Philadelphia market specialist

Margolis joins Newmark Grubb Knight Frank Philadelphia, PA — Michael Margolis, CPA, has joined the Philadelphia office of Grubb K n i g h t F r a n k (NGKF) as a senior managing director in the company’s Capital Group. Margolis brings Michael Margolis nearly 30 years of experience representing institutional and private client owners in the Philadelphia market and throughout the northeast, having closed more than $1.4 billion in investment sales transactions during his career.

Margolis, whose clients have included BPG Properties, Liberty Property Trust, Brandywine Realty Trust, Prudential, TIAA, Archon Group, Preferred Real Estate and many other leading property investors, joins as Newmark Grubb Knight Frank’s Philadelphia office builds upon a newly expanded platform, which benefits from the company’s market-leading position in New York, more than 100 offices and 250 million square feet of property under management in North America, and the proprietary technology, capital markets expertise and financial strength of BGC Partners. n

Cushman & Wakefield’s Donnelly, Jr., Flynn & Verplanck receive validation

Marcus & Millichap promotes 8 Northeast agents CALABASAS, CA — Marcus & Millichap Real Estate Investment Services has promoted eight Northeast-based agents to vice president investments. This designation exemplifies superior performance achieved by an associate during his or her sales career at Marcus & Millichap and in the investment real estate brokerage profession. The agents, their office locations and specialties are: • Robert M. Horvath, Boston, retail and net-leased • Scott Edelstein, Manhattan, multifamily • Matthew Fotis, Manhattan, multifamily • Joseph Koicim, Manhattan, multifamily

Robert Donnelly, Jr.

• Ross J. Mezzo, Manhattan, multifamily • Mark A. Thomson, Philadelphia, multifamily

• Ken Wellar, Philadelphia, multifamily • David Weber, Washington, D.C, multifamily. n

CBRE hires Doug Petrozzini as a senior vice president EAST BRUNSWICK, NJ — CBRE announced that 28year commercial real estate veteran Doug Petrozzini has joined the real estate brokerage firm as a senior vice president. Throughout his career, Previously employed with

Grubb & Ellis, Petrozzini has completed hundreds of leases with top-name companies such as IBM, Merrill Lynch, MetLife, MedPointe Pharmaceuticals, Bristol-Myers Squibb, Galderma, Carter Wallace, DFB Pharmaceuticals, and the FDIC.

After joining Grubb & Ellis in 1983 as an office leasing specialist, Petrozzini continued on to become a vice president in 1989 and a senior vice president in 1995. Previously, he was a principal at Lake Shore Development. n

Avison Young recruit Delmonte and Baum as principal & VP N e w Y o r k C i t y, N Y — Real estate research and marketing veterans James Delmonte and Elliot Baum have joined Avison Young’s newly established office in New York City. Delmonte joins as a principal and vice-president of Research, NYC, and Baum joins as a

principal and vice-president of Marketing, New York City. Delmonte will be responsible for overseeing all aspects of Avison Young’s market research in the Tri-State area. He was most recently VP of Research with Jones Lang LaSalle in NY. An industry veteran with

more than 20 years Baum will be responsible for directing Avison Young’s marketing, public relations and branding efforts throughout the Tri-State region. He was previously senior managing director of the Consulting Group and head of marketing for the Tri-State Region of Colliers International. n

Kenneth Flynn Joan Verplanck MORRISTOWN, NJ — Rob- of Trammell Crow Co. In other news, At its annual ert Donnelly, Jr., CCIM, has been promoted to the position awards gala and dinner this of executive vice president at evening, the American ChamCushman & Wakefield. He ber of Commerce Executives joined the commercial real will present Joan Verplanck estate services firm 10 years , senior director of Cushman & ago and quickly has achieved Wakefield the 2012 Life Memone of the firm’s highest-level ber Award. The Life Member Award is the association’s titles. Kenneth Flynn has joined highest individual honor. It is Cushman & Wakefield as se- bestowed in recognition of a nior director. A 20-year veteran lifetime of business community of commercial real estate, he is leadership and service to the based in the commercial real association and chamber of estate services firm’s Morris- commerce profession. Recipients of the Life Memtown office. Prior to joining Cushman & ber Award are nominated by Wakefield, he was senior VP their peers and selected by of Jones Lang LaSalle, and the association’s executive prior to that held a similar committee. Verplanck is one of title with CBRE, coming to only two Life Member Award that firm with its acquisition honorees in 2012. n

First Industrial adds McCulloch Baltimore/Washington D.C. — First Industrial Realty Trust, Inc. has hired Mac McCulloch as marketing/leasing manager for the company’s 1.9 million s/f portfolio in the Baltimore/Washington D.C. region. McCulloch has more than 15 years of experience in the commercial real estate business. Before joining First Industrial, he was vice president at Col-

liers International, a commercial real estate brokerage firm, where he was responsible for the leasing, acquisition, and disposition of industrial, office, and retail properties throughout the Baltimore Metro area. Prior to that, he was an associate with NAI KLNB, a client representative real estate brokerage unit of NAI in the Baltimore region.n

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32A — August 31 - September 13, 2012 — Mid

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Commercial Real Estate Organizations’

Events Calendar AUGUST 29 – CREW PITTSBURGH Event: Connect With Crew Time: 5:00 PM – 7:00 PM Location: Taste of Dahntahn Address/City: 535 Liberty Ave., Pittsburgh, PA P: 412-297-4807 E: mjordan@cohenlaw.com www.crewpittsburgh.org AUGUST 29 – NAIOP PITTSBURGH Event: NAIOP Developing Leader 2012 Education Series 2 Time: 5:00 PM – 6:00 PM Location: Point Park University, Lawrence Hall Ballroom Address/City: Corner of Wood & Blvd. of the Allies Cost: Members Free/$20 Nonmembers/$10 Students P: 412-928-8303 E: info@naioppittsburgh.com www.naioppittsburgh.com SEPTEMBER 4 – IREM Event: Annual Golf Outing Time: 10:30 AM – 7:30 PM Location: The Ace Club Address/City: Ridge Pike & Manor Rd., Lafayette Hill, PA P: 856-786-9260 www.irem3.org SEPTEMBER 6 – BOMA PITTSBURGH Event: BOMA Lunch Time: 11:30 AM Location: William Penn Hotel Address/City: 530 William Penn Pl., Pittsburgh, PA Cost: $30 P: 412-261-2328 E: bomabarb@aol.com www.bomapittsburg.org SEPTEMBER 7 – NJAA Event: South Jersey Government Affairs Breakfast Time: 8:30 AM – 11:00 AM Location: Archer & Greiner PC Address/City: Haddonfield, NJ E: jaclyn@njaa.com www.njaa.com SEPTEMBER 10 – NJAA Event: Annual Golf Outing Time: 10:30 AM Location: Fiddler’s Elbow Country Club Address/City: Bedminster, NJ E: damaris@njaa.com www.njaa.com SEPTEMBER 10-11 – ICSC Event: VRN Fall Outlet Leasing & Marketing Convention Location: Sheraton Meadowlands Hotel & Convention Address/City: 2 Meadowlands Pl., E. Rutherford, NJ Cost: $315 Members $415 Nonmembers www.icsc.org SEPTEMBER 10-12 – ICSC Event: PA/NJ/DE Idea Exchange Location: Atlantic City Convention Center Address/City: One Convention Blvd., Atlantic City, NJ Cost: $270 Members $485 Nonmembers www.icsc.org

SEPTEMBER 11 – IREM NJ Event: Heritage Night Location: The Palace at Somerset Park Address/City: Somerset, NJ P: 856-303-0190 www.irem1.org SEPTEMBER 11 – NJBA Event: 25th Annual Golf Outing Time: 6:30 AM – 3:00 PM Location: Forsgate Country Club Address/City: 375 Forsgate Dr., Monroe Township, NJ P: 609-587-5577 www.njba.org SEPTEMBER 11 – NJAWBO Event: Board of Trustees Meeting Location: Affinity Federal Credit Union Address/City: 73 Mountainview Blvd., Basking Ridge, NJ www.njawbo.org SEPTEMBER 12 – CIRC DE Event: Monthly Membership Meeting Time: 11:30 AM – 1:30 PM Location: Clarion Hotel – The Belle Address/City: 1620 N. DuPont Hwy., New Castle, DE Cost: $30 Members $40 Nonmembers P: 302-633-1705 E: janet@circdelaware.org www.circdelaware.org SEPTEMBER 12 – NAIOP NJ Event: Preparing for Post-Panamax Prosperity Time: 5:30 PM – 8:00 PM Location: Woodbridge Hilton Address/City: 120 Wood Ave., Iselin, NJ Cost: $145 Members $195 Nonmembers www.naiopnj.org

SEPTEMBER 12 – TRISTATE Event: Office & Industrial Specialty Meeting Time: 11:30 AM – 1:30 PM Location: Seton Center Address/City: 900 Forge, Norriton, PA P: 610-238-9070 www.tristatecres.com SEPTEMBER 12 – ULI NNJ Event: Hoboken Infill Development Walking Tour & Networking with Dean Marchetto Time: 5:30 PM – 8:00 PM Location: Pier A Park Address/City: 100 Sinatra Dr., Hoboken, NJ P: 201-312-8817 E: mara.winokur@uli.org www.nnj.uli.org SEPTEMBER 13 – ABC EPA Event: Green Building Education Time: 8:00 AM – 12:00 PM Location: ABC Office Address/City: 430 W. Germantown Pk., E. Norriton, PA Cost: $175 on or before Sept. 3rd; $200 after Sept. 3rd P: 610-279-6666 E: jjudge@abceastpa.org www.abceastpa.org/www.greenbuildinged.com SEPTEMBER 14 – ABC EAST PA Event: WB-Scranton Legislative Breakfast Time: 9:00 AM Location: Mountain Laurel Resort P: 610-279-6666 E: info@eastpa.org www.abceastpa.org

SEPTEMBER 12 – NJAA Event: Socializing Your Community Time: 8:30 AM – 12:00 PM Cost: Members Free/$75 Nonmembers P: 732-992-0600 E: jaclyn@njaa.com www.njaa.com

SEPTEMBER 14 – USGBC NJ Event: “Show Me the Money” Time: 8:00 AM – 12:00 PM Location: Salem Community College, Davidow Hall Theatre Address/City: 460 Hollywood Ave, Carney’s Point, NJ Cost: No Charge P: 973-290-0013 E: info@usgbcnj.org www.usgbcnj.org

SEPTEMBER 12 – NJBIA Event: How to Market Your Business (HM12) Location: Pines Manor Address: 2085 Route 27, Edison, NJ Cost: $79 Members $129 Nonmembers P: 609-393-7707 ext. 239 www.njbia.org

SEPTEMBER 18 – SIOR PHILADELPHIA Event: Industrial Property Summit Location: Hershey Country Club Address/City: Hershey, PA E: siorpropertysummit@gmail.com www.siorphila.com

SEPTEMBER 12 – POA NJ Event: Secrets of a Successful Landlord Time: 6:30 PM Location: Wilshire Grand Address/City: West Orange, NJ Cost: Members Free/$35 Nonmembers P: 732-780-1966 E: info@poanj.org www.poanj.org SEPTEMBER 12 – SMPS PHILADELPHIA Event: Changing How We Live, Work & Commute-Evolving Development Models for the Next Generation Time: 5:00 PM – 7:30 PM Location: The Downtown Club Address/City: 6th & Chestnut Sts., Philadelphia, PA Cost: $35 Members $55 Nonmembers www.smpsphiladelphia.org

SEPTEMBER 19 – ABC EPA Event: Member Recognition Breakfast Time: 8:00 AM Location: Holiday Inn Address/City: 1750 Sumney Town Pk., Kulpsville, PA Cost: $45 Members/Nonmembers E: jtoman@abceastpa.org www.abceastpa.org SEPTEMBER 19 – ICREW NJ Event: Annual New Member Event Time: 5:30 PM Location: Prudential Address/City: 751 Broad St., Newark, NJ Cost: $50 P: 609-585-6871 E: icrewnj@icrewnj.org www.icrewnj.org

Mid Atlantic Real Estate Journal — August 31 - September 13, 2012 — Inside Back Cover A

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Mid Atlantic REAL ESTATE JOURNAL

BILLBOARD

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LEEDing the Way. Metro Park VI Achieves LEED Platinum Certification 60% Pre-leased, Only 125,000 SF Remains

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SHOPPING CENTERS Mid Atlantic Real Estate Journal — August 31 - September 13, 2012 — Section B

www.marejournal.com

John M. Azarian The Azarian Group

James Balliet KW Commercial

John Birkeland ROCK Commercial

Buck Collins Bohler Engineering

Jonathan Epstein Real Connect

Pete Haran Thesing Property Svcs.

Ward McMasters Earth Engineering

Terry Mocherniak OSRAM SYLVANIA

Kevin R. Pelio The Azarian Group

Tom Skeans Real Connect

William P. Stevenson Target Building Construction

Mark Taylor Marcus & Millichap

B Inside Cover — August 31 - September 13, 2012 — Shopping Centers — Mid

Atlantic Real Estate Journal

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Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 1B

Hyde Park Mall Redevelopment Now Underway! Route 9, Hyde Park, New York

Major Tenants: Super Stop & Shop, Dollar Tree, Hudson Valley Credit Union, Radio Shack · Join BRAND NEW Super Stop & Shop and Stop & Shop Fueling Facility! · Grand Opening November 1, 2012!

· Lease just signed with · Immediately adjacent to the world famous Culinary Institute of America and the Franklin Delano Roosevelt Presidential Museum and Library. · Convenient to Marist College and Vassar College · 15.05 acres; 130,000 square foot shopping center; 435 parking spaces · Prime retail inline and additional Junior Anchor space available ranging from 2,000-26,000 square feet (will subdivide)

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Aggresive Leasing Program Underway The Azarian Group, 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 1,500-1,550 s.f. available Milton Shopping Center, Oak Ridge, NJ 2,500 s.f. available Pine Brook Plaza, Pine Brook, NJ Allendale Town Center, Allendale, NJ 1,700 s.f. available

Raritan Center, Sayreville, NJ 2,500–13,650 s.f. available (will subdivide) Montvale Shopping Center, Montvale, NJ Town Plaza II, Orangeburg, NY 900–5,200 s.f. available Plaza K Shopping Center, Woodbridge, NJ Lenox Plaza, West Paterson, 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 New: Washington Town Center, Washington Township, NJ 850–6,900 s.f. available

2B — August 31 - September 13, 2012 — Shopping Centers — Mid

Atlantic Real Estate Journal

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SHOPPING CENTERS KBE Building Corporation...Building America’s Brands In the retail business, timing is everything. We understand that. And we deliver. KBE has more than 50 years of experience in retail construction - from shopping centers to big box to specialty retail.

By James Balliet, KW Comm’l.-The James Balliet Grp.

Location! Location! Location! ...What will it cost you?

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Evergreen Walk, South Windsor, CT Base building construction, tenant ﬁt-out

Maryland | Mid-Atlantic Region • Connecticut | Northeast Region • 1.800.798.9909 • www.kbebuilding.com Small enough to listen. Big enough to deliver.

e all know the “golden rule” of real estate, we have heard it so many times we chant it in our sleep. However, in this economic climate there are many variables and rental opport u n i t i e s t o James Balliet consider when choosing a new location for your retail business (or for your clients). Obviously, choosing a strategic position is important to most retailers but with above normal vacancy rates and multiple holes in the market left behind by failed concepts it might not always make sense to pay a premium for the best or perceived best location in any given market area. For example’s sake let’s take a closer look at a few of the most common open air retail space options and typical small store rental rates associated with them. Please note to keep size of article down we will not discuss enclosed malls, regional centers or outlet centers. Also, please note the figures below are averages and in no way set in stone. As we all know everything is negotiable. Power Centers- Always anchored by multiple “Big Box” retailers, national, regional and local restaurants, very high traffic, few smaller tenant spaces… usually command higher rents. $30-$40 SF/NNN Community Centers- Anchored by discount department stores, home improvement, supermarket, drug store, large specialty or discount apparel anchors. There are usually multiple small store leasing opportunities available but it’s

fairly easy to “get lost” in these centers. $16-$25 SF/NNN Lifestyle Centers- Typically constructed in high income areas….Upscale specialty shops, Regional and National restaurant chains, cinema, specialty grocer, national book chain. Base rents and high NNN expenses usually keep out most smaller local tenants. $25-$40 SF/NNN Neighborhood CentersUsually a grocery store anchored center….high traffic, multiple small store tenants, fitness centers…moderate rents. $16-$20 SF/NNN Strip Centers- Multiple small stores, usually very convenient ingress and egress, high visibility and usually palatable rents. $14-$20 SF/NNN When choosing a location ask yourself does your store or clients store really need to be in the new construction “Big Box” Power Center where the rent factor might be counter productive to profitability? Of course this type of Center typically provides high traffic but are the RIGHT customers walking through your doors? The point is do not confuse high traffic count and high customer count. Are you strategically positioning yourself within maximum exposure to your targeted demographic? The counter point to this thought process is that if you locate your store in the middle of nowhere or a location that is not overly convenient there will be additional marketing expenses to drive customers to you. Another important factor to consider is co-tenancy, for example you probably would not want to place a high end clothing store next to a dollar store concept. Also be sure to take parking convenience into ac-

count. If you are not easy to get to and convenient to access most customers will probably opt for a more convenient choice. In summary, do your research and hire a qualified commercial broker to assist you. They will know the historical tendencies of a particular retail environment. The goal is to obtain the best mixture of visibility, demographics, convenience, parking, cotenancies and rent. After all it’s your bottom line on the line. James is president of KW Commercial-The James Balliet Commercial Group located in Allentown, PA. Specializes in Shopping Center sales and leasing, and is a 2010 and 2011 CoStar Group Power Broker Award recipient. n

Shopping Centers Real Estate Journal a section of the

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

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Section Publisher Elaine Fanning efanning@marejournal.com

Section Editor Rachel Rugman editor@marejournal.com

The James Balliet Commercial Group “The Lehigh Valley’s Premier Full Service Commercial Real Estate Company” • Shopping Center Sales & Leasing • Retail, Office, Medical & Industrial Properties • Distressed Property & Asset Management • Tenant Representation • Business Brokerage • Commercial Land Brokerage • Multi Unit Apartments

610-435-4711 Visit us at booth # 610 at PA/NJ/DE ICSC Show

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Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 3B

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SHOPPING CENTERS

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4B â&#x20AC;&#x201D; August 31 - September 13, 2012 â&#x20AC;&#x201D; Shopping Centers â&#x20AC;&#x201D; Mid

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SHOPPING CENTERS By Mark Taylor, Marcus & Millichap

Net Lease Activity 3rd Quarter 2012

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s we approach the end of summer and the third quarter of 2012, we can now with a degree of confidence put a frame and context on the market for retail investment real estate for the year. Mark Taylor 2012 has been a year of increasing velocity in the market, significant cap rate compression (in Sellerâ&#x20AC;&#x2122;s favor), historically low interest rates, and increased demand. In

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the Northeast and New England, retail rents have stabilized (in many cases creeping up), vacancy rates have decreased, and leasing activity has increased. The combination of all of the above has created a perfect storm in the single tenant net lease sector. Cap rates are back to pre-recession levels with demand being fueled by institutional buyers, 1031 exchange buyers, and buyers fleeing other investment vehicles. Cap rates for new CVS and Walgreens drug stores are down to 6.0% to 6.25%, and in some metro New York and Washington DC locations below 6.0%. National or large regional

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banks are seeing their branches on new 20 year NNN ground leases with rent increases every five years being sold at cap rates as low as 5.5%. McDonalds are being sold for cap rates between 4.5% and 5.0%, and other fast food concepts with corporate signed leases are selling for almost as low a cap rate. An important new development in the single tenant net lease sector is the change in business model by two of the leading convenience store chains, Sheetz of Altoona, PA., and WAWA of Wawa, PA (suburban Philadelphia). Until recently, each of these two privately held but well regarded chains owned their real estate and funded new store development out of operating revenues. Now, each has embarked on a development program partnering with developers who find, acquire, and entitle a parcel of land, which Sheetz or WAWA then ground lease from the developer. Sheetz has a 15 year lease while WAWA has a 20 year lease. Many of the developers are selling these at very low cap rates. My team here at the Marcus & Millichap Office in Philadelphia has put several of these properties (with new leases, not older ones) under letter of intent or contract at cap rates from 5.65% to 6.25%. Many investors are migrating to these types of assets from drug stores because the leases have periodic rent increases, and the business model of the convenience store (with gas pumps) is perceived as recession proof and immune from online retailing. Of course, the opposite of that trend is the difficulty of selling single tenant net leases assets where the tenantâ&#x20AC;&#x2122;s business model is subject to changes in consumer habits. Best Buy today is still an investment grade ranked company. But the investment community has very swiftly concluded that despite that, Best Buy is a large risk and no credence is given to that rating. Best Buy stores are now viewed as â&#x20AC;&#x153;real estateâ&#x20AC;? deals and priced on the real estate fundamentals specific to a store and the market it is in. There is still a real lack of supply of big box retail stores for sale (WalMart, Lowes, Home Depot, Kohlâ&#x20AC;&#x2122;s, Target, and clubs like Costco, BJâ&#x20AC;&#x2122;s Wholesale Club and Samâ&#x20AC;&#x2122;s Club). There are very few data points on which to rely in establishing value other than comparing them to their smaller investment grade drug store cousins. Mark Taylor is First Vice President of Investments and Senior Director, National Retail Group of Marcus & Millichap. n

Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 5B

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SHOPPING CENTERS

TURNING VISION INTO VALUE

ACQUISITION, RENOVATION, AND DEVELOPMENT ENCOMPASSING 45 SHOPPING CENTERS, 10 MILLION SF OF RETAIL IN 10 STATES

Connecticut Meriden Parkade, Meriden — 225,000 Maine Airport Mall, Bangor — 232,500 Capitol Shopping Center, Augusta — 200,000 JFK Plaza, Waterville — 174,000 Shaw's Plaza, North Windham — 124,000 Shaw's Plaza, Waterville — 119,000 Wells Plaza, Wells — 133,000 Massachusetts Cushing Plaza, Cohasset — 71,000 Danvers Crossing, Danvers — 176,000 Foxborough Plaza, Foxborough — 121,000 Hannaford Bros., Waltham — 46,000 Middleborough Crossing, Middleborough — 132,000

Corporate Headquarters 940 Haverford Road Bryn Mawr, PA 19010 610-552-6000 wprealty.com

Shaw's Plaza, Easton — 103,000 Shaw's Plaza, Hanover — 57,000 Springfield Plaza, Springfield — 512,000 New Hampshire Hood Commons, Derry — 210,000 Hooksett Village Shops, Hooksett — 257,000 New York Colonie Plaza, Albany — 168,000 Columbia Plaza, Rensselaer — 136,000 Irondequoit Plaza, Rochester — 216,000 Lake Shore Plaza, Lake Ronkonkoma — 95,000 Malone Plaza, Malone — 178,000 Saranac Lake Plaza, Saranac Lake — 68,000 St. Lawrence Plaza, Massena — 166,000

Ohio Boardman Plaza, Youngstown — 625,000 Fairlawn Town Centre, Fairlawn — 447,000 Knox Village Square, Mount Vernon — 207,500 Pennsylvania Carlisle Crossing, Carlisle — 368,000 Columbia Mall, Bloomsburg — 352,000 Dauphin Plaza, Harrisburg — 216,000 East End Centre, Wilkes-Barre — 306,000 Mayfair Shopping Center, Philadelphia — 115,500 Valmont Plaza, Hazleton — 200,000 West Side Mall, Edwardsville — 423,000

Acquisitions Joseph R. Staugaard, III, CFA jstaugaard@wprealty.com 610-552-6062

Rhode Island Diamond Hill Plaza, Woonsocket — 387,000 Marketplace Center, Warwick — 194,000 Virginia Chesterfield Marketplace, Richmond — 428,500

New Acquisitions

Leasing Charter Realty & Development Corp. 203-227-2922 chartweb.com

6B — August 31 - September 13, 2012 — Shopping Centers — Mid

Atlantic Real Estate Journal

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SHOPPING CENTERS By John Birkeland, ROCK Commercial Real Estate

The secret of retail success

top. Take a step back. Observe what you see going on in the markets, and then look to analyze and explain it. In my writings, I keep coming back to a central theme: know your markets and the forces John Birkeland that drive them. In looking at the secret of successful retailers, we return to this premise once again. The secret to a successful retail location is a combina-

tion of location, visibility and accessibility. The amount of information available for site analysis is amazing. From detailed maps with multiple layers, to tapestry demographic reports, to daily traffic counts, today’s retailer can thoroughly research potential sites. However, the secret to a successful retail business is knowing the customer’s decision making process; being relevant to them, and addressing their need / want. This means knowing your markets. A great local example of knowing the market is Sportsman’s Liquidation Outlet. The

Why I rely on ROCK.

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business model was to purchase discontinued and overstock items from the larger sports box stores, with an emphasis on hunting and fishing, and offer them at deep discounts. The owner was astute in site selection, choosing good locations but sacrificing certain attributes to keep his rent down, and therefore his overhead, and therefore his prices. What really made this concept work was how well it fit the market. The discounted pricing appealed to the area both in price point (median household income right around the national level of $54,442) and culture (some school districts in the area recognize deer hunting season as an excused absence). As the late Harry Kalas would say, “That ball’s out of here.” There is more to it. Things change. Better put; external factors continually modify retail customers’ behavior. Factors such as economy, dietary trends, environment, fashion, combine to influence how people will spend their money locally and nationally. Retailers that can forecast these external trends, and get in front of them are going to have the competitive advantage. Dollar stores and consignment shops thrived during the Great Recession (economic). Fast casual restaurants led restaurant growth (dietary / lifestyle / economic) over the past few years. “Green” focused retailers are consistently gaining market share (environmental / economic). Stop. Take a step back. Observe what you see going on in the market. Retail concepts that analyze it, explain it, and then tailor their products and services to coincide with it hold the secret to success. What do you see? John Birkeland specializes in retail leasing and sales, investment properties, and corporate services. He has been active in commercial real estate for the past nine years, and held the position of Broker of Record for Springwood Commercial Realty. He has a strong background in hotel and restaurant properties, and earned a master degree in Management from the Cornell University Hotel School. John is a native of Colorado, where he specialized in resort management and commercial leasing before moving to York County in 2003. n

Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 7B

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SHOPPING CENTERS Visit Us At ICSC RECON 2012 Booth #S510W

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8B — August 31 - September 13, 2012 — Shopping Centers — Mid

Atlantic Real Estate Journal

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SHOPPING CENTERS By Ward McMasters, P.E., Earth Engineering Inc.

Site investigation scope of work: Less costs less. . .or does it?

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BUILDING FOR THE FUTURE.

ith the recent tight economy everyone is looking to save money on every aspect of a budding development project, as they should. One of the first items facing a new project is the Ward McMasters subsurface conditions and their economic impact on the project. Often this site investigation occurs either before or early in the project financing and hence the pressures to spend

less are enticing. The trap however is the cost of under investigating any site and the potential financial landmines that can surface such as urban fills, weak organic soils, clays, high groundwater, rock, etc. Not to worry, a responsibly prepared scope of work for a geotechnical investigation should reveal insight into most of these conditions. The trouble occurs when the aforementioned economic pressures create a situation in which the firm with the smallest scope and subsequent lowest price is awarded the investigation (and often the quality control

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inspections which is why they were motivated to undercut the scope in the beginning.) The cost implications of under investigating a project can be tremendous. I have reviewed many reports that should have been labeled as “preliminary” but were portrayed as the complete investigation. Insufficient coverage due to a reduced scope of work has left critically important factors to be determined at a later time. I would contend that these unknowns leave the development in a state of financial uncertainty. Not defining something as simple as a rock cut can adversely affect the financial success of any project. In order to understand and fully plan for these critical conditions hinges on a “responsible” scope of work. I have seen countless projects impacted adversely by unknown conditions that would have been recognized through even a basic scope of investigative work. Is this the fault of the developer seeking a “cheaper” investigation or the engineer for offering this less than desirable scope just to win the work. This is entirely up for debate. What is not up for debate is the impact that subsurface conditions can have on a project and the clear need to define these issues at the onset of any project. In general, it is important to include test borings to determine the strength of the underlying soils. This is the first step. Test pits are great and they allow for a visual picture of the upper soils, but they don’t give you data (other than a visual evaluation) of the soil strength. Therefore, be cautious of the quickie test pit investigation in lieu of a well planned scope of work. The real point of this discussion is that geotechnical engineers across our industry are a resource that should be consulted with regarding a scope of work for any investigation that fits a development plan. Find someone that you trust to develop a scope work for your project that protects you from being blindsided by unknown conditions. The financial savings of a cheap investigation are far outweighed by the potential losses caused by unforeseen conditions. Ward McMasters, P.E. is president of Earth Engineering Incorporated, a full service geotechnical engineering firm established in 1990 with offices throughout PA and NJ. n

Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 9B

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SHOPPING CENTERS By Jonathan Epstein & Tom Skeans, Real Connect

Building mgmt. & security should be flexible, scalable & secure

ver since the release of the iPhone, people have become more comfortable with the convenience of managing their email, c a l e n d a r, contacts, finances and more through their smart- Jonathan Epstein phone. As our comfort levels with our devices have increased, so have the volume of apps designed to simplify, orTom Skeans ganize and optimize our digital lifestyle. We now have the technology to have complete facility control and automation through a smartphone, tablet or web browser. A good solution will give owners (and their tenants) peace of mind, while saving both time and money. The offerings may be a little confusing, so it is important to look for a secure, flexible, scalable solution that can be tailored to a building owner or manager’s specific needs. Providing and integrating an automation and security solution should be done by a professional, and some important things to consider are the following: • Access Control (lock and unlock doors remotely): Imagine the time saved when an owner does not have to be physically on-site for routine maintenance, inspections or showings. With an automation solution in place, doors can be unlocked at a scheduled time, or at a moment’s notice. Owners can input and restrict user codes and track user access throughout their property and also be notified by text or email when access codes are entered or doors are opened. • Security (video surveillance, alerts and notifications): There is a wide offering of video technology, and it’s important to consider camera resolution, location and archive capacity. From the convenience of their smartphones, owners can view live or archived video feeds from their property. Video feeds are also useful to owners looking to check status and quality control of projects and vendors (e.g. landscapers, snow removal, parking lot repairs, improvements, etc.) 24 hours a day, without having to

be on-site. In the event of detection, owners can be notified via email or text, accompanied by a few pictures or video footage. • Automation (Lighting, HVAC, etc.): After a power loss, timers for lighting and HVAC controls must be reset, often at the owner’s expense. Depending on the interface, reprogramming can be tedious and complicated. With the proper building automation solution, programs for lighting and HVAC can be programmed, changed or restored remotely in minutes. Plus, the controller can incorporate location-specific scheduling (e.g. turn the outside

lights on 20 minutes before sunset). Building management and security solutions should be flexible, scalable and secure. Many respected vendors like GE, Panasonic, Trane, Honeywell, Yale and Intermatic offer remote management and automation products that integrate with such systems. Solutions can be tailored to each commercial real estate asset type: multifamily, office, retail, industrial, single-tenant or multi-tenant, depending on the owner’s preference and budget. Building automation Continued on page 26B

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10B — August 31 - September 13, 2012 — Shopping Centers — Mid

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Atlantic Real Estate Journal

Shopping Centers By Pete Haran, Thesing Property Services, LLC

201 Haddonfield-Berlin Road Cherry Hill, NJ 08034 856-857-9333

www.aeconstruction.com

Come see us at the ICSC Idea Exchange Booth 501

www.marejournal.com

Putting your properties snow removal on thin ice

urviving in the snow and ice management industry isn’t easy, especially when forced to fend off the low-balling contractors determined to win the job at any cost to remove your snow. Pete Haran A good property manager should be more concerned about people being able to get to the site promptly when needed than they are the low bidder. In addition the ideal Property Managers are more

in-tune with safety and liability concerns for the sites they are responsible for. Those property management shoppers, who want the lowest bid, technically do it at their own risk. To your clients, whether they are tenants, employees, shoppers or residents, snow is a nuisance. They want it gone and they don’t care how you do it; but property

managers and owners usually don’t want to pay much for the service. That’s especially true when they fall into the comfort zone of a low-balling contractor, only to be left stranded if they are a no-show and your site has six inches of unplowed snow on it! The best and some say the only way to overcome this mindset is to educate the property manager about what you do, why you do it, and why you charge what you do. It is essential that property managers understand the importance of hiring a company that specializes in Snow and Ice management, not someone who’s in it to make a little extra cash on the side or to keep employees busy to handle their winter needs. The snow industry is a very difficult business and snow & ice management professionals have invested a lot of time learning how to service their clients and properties with the proper equipment and products. With all the de-icing chemicals on the market, there exists a responsibility to know what is being applied and that the right amount is being applied. Having that expertise is not only good practice for property managers, but it’s good for the environment. SIMA, the Snow & Ice Management Association, the only nationwide trade association dedicated to snow & ice contractors, agrees that education is an integral weapon to help Snow professionals and offers marketing brochures and other resources to help its members educate the customers. The association is also reaching out to property managers and owners to help them better understand the need to hire reputable snow and ice professionals. Those making the decision about which contractor to hire need to understand why they should be looking beyond price alone. They need to ask the right questions, and find out whether the contractor is properly insured, what equipment will be utilized and are they qualified to handle the job. If they don’t, they may find themselves looking for a new contractor in the middle of a storm. Even in today’s economy cheaper is not always better, and when property owners or managers base their decisions to hire a contractor solely on cost, they threat being put on thin ice. Pete Haran is vice president of operations and business development for Thesing Property Services, LLC in Sewell, NJ. n

Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 11B

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Shopping Centers By William P. Stevenson, III, Target Building Construction

Target Building paves the way for Stanley’s Hardware Expansion

here’s nothing like walking into a real hardware store – there’s a sense of order, an awesome display of merchandise, a feeling that you’re going to find what you need…and, yes, even a disWilliam P. tinctive aura Stevenson or aroma that comes from so many products on hand, each with its own purpose. Bolts, nuts and washers, hand tools, light bulbs, plumbing supplies, and just about everything under the sun you need in a pinch. At Stanley’s True Value Hardware, it’s all in one place in the Roxborough neighborhood of Philadelphia and where a new day is in the making. When Your Name Is On The Door, Relationships Take On A Heightened Importance. When Stanley Jaconski and his wife opened their store in Manayunk in 1948, the tradition of providing excellent service for customers was established. In 1958, Stanley’s moved to its landmark location at 5555 Ridge Avenue in the Roxborough section of Philadelphia where the Jaconski’s son, also named Stanley, expanded the concept into a hardware store. Thus the name Stanley’s Hardware. The unique characteristic of Stanley’s Hardware is old-fashioned customer service. Once you enter the store, in 7 to 8 seconds an employee will ask, ”May I help you?” I’ve been in the store ten times and it’s happened every time. Today, Stanley’s is owned and operated by the third generation of Jaconskis, brothers Mark and Joe. From Ridge Ave., alwaysbustling Stanley’s Hardware services the Northwest part of Philadelphia including Roxborough, East Falls, Manayunk and Chestnut Hill, as well as the surrounding suburbs of Belmont Hills, Bala Cynwyd and the City Line area. While business is split about 60-40 between homeowners and contractors, Stanley’s customers also include Philadelphia University, Penn Charter School, Roxborough Memorial Hospital, as well as popular NBC, ABC and CBS broadcast stations and FM radio stations 94 Continued on page 26B

Stanley’s Progress

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12B — August 31 - September 13, 2012 — Shopping Centers — Mid

Think you can beat the competition?

Atlantic Real Estate Journal

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SHOPPING CENTERS By John M. Azarian & Kevin R. Pelio, The Azarian Grp.

Raritan International Center about to break ground

T Be a part of the Mid Atlantic Real Estate Journal's

4 Annual Retail Design Competition th

Enter your project in this year’s annual Retail Design Competition

Call or email today to be added to the list to receive your 2012 Retail Design Competition Entry Form Elaine Fanning 1-800-584-1062 ext. 212 efanning@marejournal.com Deadline for entry: September 14, 2012 • Issue Date: September 28, 2012

he Azarian Group, L.L.C. is pleased to announce that it is about to break ground on the expansion and renovation of the Raritan International Center in Sayreville, New Jersey. The project will include a 10,000 s/f pad site which will house The Learning Experience Day Care Center. This pad site will also have a fenced in outdoor play area of approximately 5,000 s/f. This will be a state of the art day care facility offering customized security features, class room materials, etc. The Learning Experience oper-

ates more than 200 locations nationwide. In addition to the construction of The Learning Experience building, The Azarian Group will also be renovating the existing shopping center’s façade and surrounding site. This will feature new EIFs and four parapet tower elements. Furthermore, the site work entails new sidewalks, parking lot resurfacing and restriping, landscaping and a new pylon sign for tenants of the shopping center, (see rendering). Originally built in the 1970’s, the Raritan International Center is a 75,000 s/f shopping center on over 13 acres with approximately 365 parking spaces. It is conveniently located right off of Exit 124 of the Garden State Parkway on Raritan Street. In addition, the Center lies adjacent to a 300 car commuter parking lot, which takes commuters by bus to New York City. Anchored by Walgreens, Family Dollar and Visionworks, the property has only two vacancies. One vacancy measures 2,500 s/f and is ideal for any retail use including food, office or medical space. There is also a former gym space that measures 13,650 s/f that can be divided. This space can be reconfigured for another fitness use, office space or similar uses. Both spaces are available for immediate occupancy. John M. Azarian, CSM, is the owner of The Azarian Group, L.L.C. and Azarian Realty Co. He is a licensed real estate broker in New Jersey and New York. Kevin R. Pelio is an Assistant Property Manager and is a licensed real estate broker associate with the firms. ■

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Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 13B

SHOPPING CENTERS By Terry Mocherniak, OSRAM SYLVANIA

Congrats on your 15th Anniversary CREATE!

Addressable lighting controls work to improve bottom line for retailers

well-lit environment creates a more positive shopping experience for customers at retail locations of all sizes. As such, the retail industry in the U.S. spends nearly $20 billion Terry on energy Mocherniak each year according to the United States Environmental Protection Agency (EPA) with lighting as the largest energy drain. The EPA also estimates that a 10% reduction in energy costs for average retail outlets could increase profit margins by 16% annually. An advanced lighting control system can serve as an indispensable tool in accomplishing these energy savings while improving illumination quality. How an Advanced Lighting Control System Works An advanced lighting control system allows for individual controlling of each lighting fixture or peripheral device in retail spaces from big-box merchandisers to boutiques. All devices are networked and centrally controlled through a central software interface. This allows for addressable dimming or switching of light fixtures independent of electrical circuiting for the purpose of lighting control and energy management. Once addressable dimming controls are implemented throughout the space, a number of advanced lighting energy management strategies - such as daylight harvesting, load shedding, smart time scheduling, task tuning, occupancy sensing and personal control - can help to optimize energy performance. While some of these strategies have been used independently for some time, the ability of advanced systems to seamlessly integrate and deploy them on a property-wide basis is yielding much greater energy savings. One such advanced system is the ENCELIUMTM Energy Management System (EMS) from OSRAM SYLVANIA. The ENCELIUM EMS has been proven to cut lighting energy expenditures by 50 to 75 percent, significantly reduce CO2 emissions, and provide payback on investment faster than other environmental

measures. An ideal solution for both retrofits and new construction, the EMS, formerly known as the Energy Control System, has been installed in more than 45 million square feet of commercial space across North America and Europe. An intelligent lighting control system like EMS can integrate lighting controls with other building automation systems, such as HVAC, fire and security, providing a user the ability to monitor and control a property from one centralized location. And just as important for retailers, advanced lighting controls improve illumination

quality, which is essential for customer satisfaction. Monitoring Energy Use The advanced reporting software of an intelligent lighting control system has made energy consumption simple to monitor for retailers, and, therefore, easier for them to gain control of usage and related costs at properties. It can identify lighting level status meaning ON/OFF, lighting levels, load shedding status, lighting power density or energy consumption, occupancy status, and comparable energy trends. Continued on page 26B

It has been a pleasure highlighting your recent Mid-Atlantic Retail Projects Exeter Commons – Tilden Ridge Plymouth Meeting Mall – Quarry Center And look forward to featuring more CREATE Retail Projects in the Future! To feature your company, anniversary or project Elaine Fanning ·1-584-1062 ext 212 efanning@marejournal.com

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(908) 604-6900 (908) 604-2030 fax

14B — August 31 - September 13, 2012 — Shopping Centers — Mid

Atlantic Real Estate Journal

www.marejournal.com

SHOPPING CENTERS By Buck Collins, Bohler Engineering

“Retail” Healthcare

Environmental & Geotechnical Engineers & Consultants

W Complete. Integrated. Service. PENNSYLVANIA NEW JERSEY 1600 Manor Drive, Suite 220 35 Technology Drive Chalfont, Pennsylvania 18914 Warren, New Jersey 07059 215.712.2700 908.668.7777 www.whitestoneassoc.com Serving the Northeastern United States

here we go for our healthcare and how our providers ended up there in the first place are questions whose answers have shifted dramatically in recent years. Past generations found Buck Collins their healthcare in the local hospital or family doctor’s office, which were often very close to the hospital. The hospital was in the older suburban or urban center areas and was an

anchor for the community which grew up around it. Typically, our family doctor was also on staff at the hospital, so they were close by. They are often in inconvenient, congested locations. Today’s hospitals have gone through dramatic changes. The most successful ones have remained where they have been for decades, but have done that by improving access, adding structured parking, improved signage and wayfinding, adding pharmacies, restaurants and other community related amenities. The ones unable to adapt have ceased to exist. Newer hospitals have chosen

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locations easily accessible to large populations – typically near highway interchanges and public transportation. While the number of hospitals has shrunk, other sources for healthcare have seen dramatic growth: Urgent Care Centers feature licensed doctors that can treat conditions normally handled by hospital emergency rooms. They’ve seen dramatic growth due to the difficulty in scheduling doctor’s appointments after working hours, a jump in emergency room visits and a decrease in the number of emergency rooms. According the American Academy of Urgent Care Medicine (AAUCM): • There are approximately 8,700 walk-in, stand-alone urgent care centers in the United States, and 700-800 new facilities open every year. • Emergency room visits now number approximately 110 million annually. • In a ten-year span, from 1994 to 2004, the number of hospitals and emergency rooms decreased by 9%, while emergency room visits increased by more than one million visits a year. Urgent Care Center sites are selected by following the same formula that major retailers follow: high visibility, high traffic counts and easy access from major roads, close proximity to strong related retail locations like pharmacies, ease of ingress and egress and locations near dense populations. Retail Medical Clinics are commonly located in retail pharmacies like CVS, RiteAid and Walgreens and big box retailers like Walmart. Competition from the supermarkets like Safeway is also seeing rapid growth. They are typically staffed by an advanced-degree nurse such as a nurse practitioner. The clinics treat routine maladies like pink eye, ear infections or strep throat and handle immunizations. Bruce Japsen of the New York times reports: • CVS Caremark, which has 650 MinuteClinics, plans 100 new clinics per year through 2015 • “The number of retail clinics jumped 11.2 percent to 1,355 in 2011,” according to a report by Thomas Charland, chief executive of Merchant Medicine. Retail Medical Clinic locations are in retail building Continued on page 26B

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Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 15B

SHOPPING CENTERS

16B— August 31 - September 13, 2012 — Shopping Centers — Mid

Atlantic Real Estate Journal

www.marejournal.com

Omdex Incorporated Consulting Engineers

Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 17B

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COMPANY OF THE MONTH 15 Big Ones

CREATE Architecture Planning & Design celebrating 15 years

MECHANICAL & ELECTRICAL ENGINEERING

CONGRATULATIONS

CREATE!

15 YEARS OF SUCCESSFUL PROJECTS TOGETHER 21 CROSS AVENUE MIDLAND PARK, NJ 07432 (201) 444-0753 PHONE (201) 444-0839 FAX

“C

anvas the town and brush the backdrop…” very esoteric words from the band that brought you Fun Fun Fun. It’s no wonder CREATE has borrowed America’s Band’s 15 Big Ones as their anniversary slogan. Both founders come across as casual and entertaining but are as unequivocally serious when it comes to the art of what they do. Over the year’s CREATE has been called everything from “The Developer’s Architect” to the “Little Firm that Could” but what they like the best is being their client’s “go to guys.” Repeat business makes up most of their current workload and they can’t think of a client that hasn’t used them repeatedly or remained with them. 15 years goes by fast, yet can feel like 30 when you think of the countless hours Frankie Campione, CREATE’s principal and his team have dedicated to providing top notch Service, Quality and Attention.Frankie noted a few years back in conversation with ‘one of the big boys,’ he was told, “You won’t be concerned about your clients emailing and calling you at all hours a few years from now…” Frankie responded, “When they stop calling is when I will be concerned.” He unobtrusively acknowledges, “That ‘big boy’ by the way has gone from over 150 to about 30 staff members since then. He is as humble today as he was 15 years ago as a small startup firm at the apex of the Chrysler Building in New York City. He never takes credit for the work at hand, noting, “It’s not my moniker on the door it’s a firm name that

Quarry Center

Steel Pier

Plymouth Meeting

Centeron Square Shopping Center

Capitol City Mall

simple states what we do. We have energy and a vibe over here that is a collective team effort that makes each project successful and the efforts unique to each.” They are a boutique firm by choice. Refusing to establish a roll out team, they have never grown beyond their means which is probably why they weathered the recession without layoffs or salary cuts. They just held their own. If there is indeed a light at the end of this recession tunnel, they are in front of it. Countess square footage of retail,

malls, power centers, supermarket, turnkey retail and outlets, they have done their fair share. They are the underdog, no more. Frankie acknowledges it’s been a little harder to stay under the radar with international developers recognizing their abilities. They don’t do any real marketing; have no business development director and no PR department. Their work, efforts and results stands as their true source of marketing. “Frankie has established a culture and continually reminds

Bethlehem Monastery

Willow Grove

Westchester Commons

Dick’s Mt. Hope

us just do what we are supposed to do,” notes a team member, “and as principal he sits at a drawing board not a board room.” “He’s amazing at multi-tasking,” noted another member of the team. “Until you get to know him, sometimes you think he’s not paying attention to you, his eyes start to wander or shift up and to the right. Then you realize he’s figuring out what it is we are talking about right there in his head be it a design issue, a construction RFI, a tenant dilemma.

It’s great to watch and even more exciting to participate!” Yet when told of his team’s enthusiasm for his leadership he nonchalantly says, “it’s all four walls and a roof.” Nonetheless, we’ve figured out there is a lot behind that casual stance that has the clients’ coming back for more. Mixed, use, urban planning, hospitality, medical offices, ecclesiastical and residential Frankie notes, “We have been very, very fortunate and blessed to work on a multitude of invigorating projects that reach outside our

so called retail specialty. Working directly with developer’s both public and private has given us the opportunity to expand our project types because it’s simply a matter of trust. Once a client realizes you are going to give their project everything you have and more, it is extremely rewarding when they hand you something else they are working on totally unrelated to the last project you did.” This would explain why a shopping center developer turned over a high rise dorm to CREATE for schematic and design development responsibilities and another did same with a medical office condominium. When we asked him to reflect just a bit on the past 15 years, good or bad Frankie still thinks of themselves as the little guy or the “kid” as one CEO still refers to him and if you know him, he is really a kid at heart. “Every new project or new client meeting your stomach is filled with the same butterflies you had at your elementary school play,” he adds. He maintains an ultra-professional staff that refers to all clients as Mr., Mrs., Sir, etc. It’s not an act, its architecture as it’s supposed to be with a professional Client relationship. He recalls a Senior VP at a major construction company telling him at year 5 that he won’t believe where CREATE will be in 5 more years. The same guy said it again at year 10. This past year when they spoke the VP noted the next 15 years are going to be even greater, as he heard a long pause from Frankie on the other end, he asked, “What’s wrong?” Frankie’s response, “I hope they don’t go by as quickly!” n

All of Us at Gerard Would Like to Congratulate Frankie Campione and The Create Team on 15 Successful Years in Business! Meyer Consulting Engineers Corporation

Congratulations to CREATE & Our 15 Years Working Together!

Structural Engineers • Parking Consultants Construction Inspectors 451 Hungerford Drive, Suite 600 • Rockville, MD 20850 PHONE: 301-738-5690 FAX: 301-738-5695

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Congratulations Frankie Campione It was great working with

CREATE

on Tilden Ridge Shopping Center A&E is now building Giant Food Store @ the Quarry Center 152 Garrett Road Upper Darby, PA 19082 610-449-3152 201 Haddonﬁeld-Berlin Road Cherry Hill, NJ 08034 856-857-9333

Think you can beat the competition?

Be a part of the Mid Atlantic Real Estate Journal's

4 Annual Retail Design Competition th

Enter your project in this yearâ&#x20AC;&#x2122;s annual Retail Design Competition

18B — August 31 - September 13, 2012 — Shopping Centers — Mid

Atlantic Real Estate Journal

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SHOPPING CENTERS ÿ

Kent & Lawrence of CBRE reps Katz & seller

EnvironmentalÿRisks

Katz Properties adds 270k s/f for $50 million to Metro DC Portfolio

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www.mgkflaw.com

ANASSAS, VA — Katz Properties of New York has acquired the Festival Shopping Center in Manassas, VA for $15,750,000 and the East River Park Shopping Center in Washington DC for $33,655,000, in separate transactions. The East River Park shopping center, located at the intersection of Minnesota Ave and Benning Road, is currently over 97% occupied and anchored by a 40,000 s/f Safeway supermarket. Other notable tenants comprising the center’s 150,000 total s/f

Festival Shopping Center

East River Park Shopping Center

William Penn Commons - New Retail/Office Space

7065 William Penn Highway , Easton, PA 18045

· Pad Sites Available for Purchase & In-Line Space for Lease · Over 26,000 SF of Retail Space Available, divisible to 880 SF · Over 11,000 SF of Office Space Available · 1/2 Mile west of Route 33 · Signalized Entrance with 18,000 vehicles per day · Over 46,000 population within 3 mile radius · For sale/Lease Rates : Contact Greg Schiavone, Broker Contact information: gschiavone@alt-realty.net - 610. 428.3484

· Retail and Office Suites Available · 60,127 SF, 3 story, building located in the Heart of Downtown Bethlehem · This one hundred seventy-six year old building was formerly home to Orr’s Department Store · Now home to the Valley’s favorite specialty retailers and restaurants · Easy Access to Routes 378, 22, and 33 · For Lease Rates: Contact Jennifer Gold, Associate Contact Information: jgold@alt-realty.net - 610.570.0095

The Farrs Building

Main Street Commons

559 Main Street, Bethlehem, PA 18017

· Adaptive re-use of a 5-story, 30,000 SF Beaux Arts style building · 5,429 SF of street level retail available on first floor · Twenty four loft apartment units on upper floors · 1920s neoclassic building, located at the Northwest corner of Broad and New Street, in Bethlehem · For Lease Rates: Contact Jennifer Gold, Associate Contact Information: jgold@alt-realty.net - 610.570.0095 2 West Broad Street, Bethlehem, PA 18018

610.332.9900

www.alt-realty.net

Residential Commercial Retail Relationships Versatility

are CVS, Citibank, and Ray’s The Steaks. The Festival Shopping Center, which is 100% occupied, is anchored by a 50,000 s/f Global Food supermarket. The center totals 117,000 s/f and is situated on 13.5 acres directly on Sudley Road at the intersection with Portsmouth Road. Daniel Katz, a principal of Katz Properties said, “We are thrilled to expand our Metro DC portfolio to include these two stable assets. Earlier this year we committed ourselves to this region and we’ve proven that commitment with these transactions. The Festival Shopping center is an excellent complement to our other recent Manassas acquisition, Westgate Shopping Center.” Daniel Kaufthal, a principal of Katz Properties, said they are “pleased to continue expanding Katz Properties’ presence in the Northeast’s urban cores with the purchase of East River Park. The redevelopment happening on this side of the Anacostia River is revitalizing the neighborhood, and we are confident that our shopping center will continue to provide quality retail services for the existing and growing community.” Mortgage financing for East River Park was provided by PPM Finance Inc. on behalf of Jackson National Life Insurance Company of Lansing, Michigan, and was arranged by Tim Breda of Goedecke & Co. The purchase of Festival Shopping Center was a cash transaction. The CBRE team of R. William Kent and Gary S. Lawrence represented both Katz Properties and the seller in each transaction. Leasing and property management services will be provided by Winslow Property Management, an affiliate of Katz Properties. ■

Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 19B

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SHOPPING CENTERS at the Visit us DE PA/NJ/ hange! c dea Ex th - 12th ICSC I 0 1 ber Septem 207

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DEVELOPMENT North Cornwall Commons Lebanon, PA

30 Keller Avenue Lancaster, PA

1611 Oregon Pike Lancaster, PA

Linden Centre Middletown, PA

Mixed-use new development 148 Acres

Re-development 3 Pad Sites & Mix use

Join Patient First Premier Lancaster location

Join CVS/pharmacy & Sharp Shopper

Millersville Commons Millersville, PA

Overlook Town Center Lancaster, PA

Keystone Arms Center Carlisle, PA

Valley Plaza Lewistown, PA

Join Sheetz Pad Site & In-line Space

Spring 2013 Construction Pad Site & Inline Space

Join Dollar General, Subway & Meadows Frozen Custard

Join Sherwin Williams, AutoZone & Tractor Supply Co.

Carlisle Plaza Carlisle, PA

7400 - 8000 Derry Street Harrisburg, PA

Shippen Towne Centre Shippensburg, PA

Anchor Position Available Join: Family Dollar

2,100 SF 3,000 - ,000 SF 3, 00 - 12,000 SF ,280 SF

1,440 SF Walmart anchor

Shoppes at BloomÀeld Village Lititz, PA

Columbia Shopping Center Columbia, PA

Hawthorne Centre Lancaster, PA

The Shoppes at Landis Valley Lancaster, PA

1,383 SF 20,308 SF +igh traIÀc location

12,512 SF Weis anchor

1,540 SF 4,000 SF Walmart & Giant Anchor

50 SF 1,500 - 3,000 SF 2,15 SF 2, 8 SF

Main Street Shopping Center Mount Joy, PA

Manheim Shopping Center Manheim, PA

Regency Square Lancaster, PA

The Shoppes on Manheim Pike Lancaster, PA

1,542 SF ,5 0 SF

2,000 SF

1, 44 SF

1,500 SF %anN Pad

HARRISBURG MARKET Union Square Shopping Center Harrisburg, PA 3, 00 SF , 00 SF 24,300 SF

LANCASTER MARKET /DQFDVWHU /DQFDVWHU 2IÀFH 120 N. Pointe Poin Blvd. Suite 301 Lancaster, PA 17601

YORK MARKET

<RUN 2IÀFH <RUN 2IÀF Greensprings Dr. 1200 Green 17402 York, PA 17

Gabriel Brothers Plaza York, PA

Queensgate Towne Center York, PA

3,000 SF 4,200 SF 1,000 SF 2,000 SF

42 SF 1,200 SF 1, 20 SF 2,1 0 SF

(p) 717.569.9373 (f) 717.560.9909

South Hanover Shopping Center Hanover, PA

Windsor Commons Red Lion, PA

0 SF 1, 00 SF 1, 0 SF 1,800 SF 2 Pad Sites

1, 00 SF 1, 00 SF 4,000 SF +igh traIÀc location

Starbucks Pier 1 Imports Chico’s Ann Taylor Ruby Tuesday’s Qdoba Soma Pet Value Shoe Carnival Hair Cuttery The Fresh Market Firestone Family Dollar Denny’s Bruster’s Verizon Wireless Royal Farms Gino’s Patient First Aaron’s Rent to Own Mattress Warehouse Meadows Frozen Custard White House _ Black Market

20B — August 31 - September 13, 2012 — Shopping Centers — Mid

Atlantic Real Estate Journal

www.marejournal.com

SHOPPING CENTERS Cohen & Nalbandian facilitates the transaction

Plaza 15, a 117,086 s/f retail property

LEWISBURG, PA — Marcus & Millichap Real Estate Investment Services has announced the sale of Plaza 15, a 117,086 s/ f retail property located at 7495 West Branch Highway, Lewisburg, according to J.D. Parker, vice president and regional manager of the firm’s White Plains office. The asset sold for a sales price of $3,000,000. Joseph C. French, Jr., senior director of the National Retail Group, and Schuyler Boylan, an associate at Marcus & Millichap’s White Plains office, had

NorthMarq Capital arranges $7.4m Marcus & Millichap mortgage for Loehmanns Plaza announces $3m sale AST BRUNSWICK, NJ — Gary Cohen, senior vice president and senior director, and Greg Nalbandian, senior vice president and managing director, of NorthMarq’s North New Jersey Regional office, arranged first mortgage refinancing of $7.4 million for Loehmanns Plaza, a 212,134 s/f community shopping center located in East Brunswick. Loehmanns is the major tenant at the center. Financing was based on a 5-year term and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a correspondent life insurance company.

Loehmanns Plaza “The property was older with many leases maturing during the loan term. The lender was able to get comfortable based on the low loan to value and strength of the borrowing

entity,” said Cohen. “The borrower wanted to roll over the existing loan balance and the lender was able to provide an attractive quote with an ease of execution.” n

Marcus & Millichap secures a 3,534 s/f sale BERGENFIELD, NJ — Marcus & Millichap Real Estate Investment Services announced the sale of 399-403 South Washington Avenue, a 3,534 s/f retail property located in Bergenfield, according to Michael J. Fasano, vice president/regiona lmanager of the firm’s New Jersey office. Julienne Pape, an investment specialist in Marcus & Millic-

399-403 South Washington Ave. hap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller,

a long term owner. The property is shadowed by Walgreens, Radio Shack and Foster Village Shopping Center, the building enjoys dual access from Washington Street and Sylvan Avenue with on-site parking. Purchased, the new investor has the potential for subdivision creating local retail storefront. n

The Goldstein Grp. completes medical use transactions PARAMUS, NJ — More medical users are getting closer to their patients by setting-up shop in local retail shopping centers. With retail landlords seeking to lease vacant spaceand doctors wanting to make it eas- Chuck Lanyard ier for patients to reach them, shopping centers, have become an interesting alternative to a traditional medical building. Shopping centers provide both easy access and great exposure. Medical space has also become very expensive causing some practices to move closer to their patients in retail centers. Several examples of medical users leasing space in retail shopping centers in NJ include the following: Valley Health, division of Valley Hospital – Opened an office at Ramapo Plaza, 777 Hamburg Turnpike, in Wayne.

Dr. Dental – A 30 unit chain out of Massachusetts leased a 1,500 s/f store front in the Riverfront Shopping Center at 500 S. River Street, in Hackensack. Sportscare Institute- A chain of 33 locations opened a 3,000 s/f office located at 100 Park Avenue in Hillsdale. Bo Orthodontics- Opened a 2,000 s/f office located in Northvale Square at 271 Livingston Street in Northvale. Major medical institutions have also taken advantage of these retail locations in choosing strategically located sites for new facilities, such as: Plainsboro- A 50,000 s/f fitness and wellness center is being developed through a joint venture between Fitness and Wellness Professional Services (F&WPS) and the University Medical Center of Princeton. This project is expected to be completed in the fourth quarter of 2012. Maywood- A 115,000 s/f fitness and wellness center facility, which is in partnership

between Hackensack University Medical Center & F&WPS, is being designed and constructed on Route 17 in Maywood. Scotch Plains- A 51,570 s/f fitness and wellness center is being designed in Scotch Plains through a joint partnership between Robert Wood Johnson University Hospital and F&WPS. New Brunswick- A 65,000 s/f fitness and wellness center is currently under construction in New Brunswick through a joint partnership between Robert Wood Johnson University Hospital and F&WPS. “As the market changes, retail landlords are changing to meet the demands of an ever evolving tenant base that now includes medical practices,” noted Lanyard. “I would expect the trend to continue as other medical users take advantage of market conditions to care for an ever expanding patient base as people are living longer and require more healthcare services and facilities.” n

Brixmor Property Grp. announces opening of Sally Beauty Supply MOUNDSVILLE, WV — Brixmor Property Group announced a 1,900 s/f Sally Beauty Supply recently opened at Moundsville Plaza, located

south of I-470 & I-70, on the southeast corner of Lafayette Avenue and 12th Street in Moundsville. Robert Gold of CB Richard Ellis, Inc., Pitts-

burgh, PA, represented Sally Beauty Supply. Brixmor is the owner of Moundsville Plaza and was represented by Jeff Lautenbach with Brixmor. n

the exclusive listing to market the property on behalf of the seller, a financial institution that is liquidating all of its assets. The buyer, a value-added developer, was secured and represented by Joseph French, after generating multiple offers. French was able to identify the best buyer based on his understanding of the property and his ability to close. Spencer Yablon, Broker of Record in the Philadelphia office assisted in the closing of this transaction. n

Weisberg of Taylor Long Props. reps buyer in $690,000 sale MIDLOTHIAN, VA — Taylor Long Properties is pleased to announce the sale of a 3,400 s/f building located at 7605 W. Broad Street, Richmond, VA for $690,000. Mike Weisberg represented the buyer, Chan Family Investments, LLC, and the seller was First States Investors 3089, LLC. Taylor Long Properties announces the following lease transactions: Urban Farmhouse leases approx. 2,191 s/f from at The Millworks, 13872 Coalfield Commons Place, Midlothian. Brian Bock reps the tenant. Firehouse Subs leases approx. 2,240 s/f at Southpark Square in Colonial Heights, VA. Janice Logue reps the tenant. Sweet Frog leases approx. 1,380 s/f at Short Pump Station, 11321 West Broad St., Glen Allen, VA. Clint Greene reps the tenant.

The signing of a lease between Cooks, L.P., and Rick Galster, dba Nationwide Insurance, for approx. 1,104 s/f at Huguenot Place, 1520Huguenot Rd., Suite 112, Midlothian, VA. Brian Bock reps the landlord. Spirit Halloween leases approx. 8,000 s/f from GLL BVK Properties at Cosners Corner, 9771 Jefferson Davis Highway, Fredericksburg, VA. Ellen Long reps the landlord. Curves For Women leases approx. 2,500 s/f at Ashland Hanover Shopping Center, 101 N. Washington Highway, Space #13, Ashland, VA. Ellen Long and Brian Bock repd the landlord. Quintessential Chiropractic, for approximately 900 square feet of space at 10301 Memory lane, Suite 101C, Chesterfield, VA 23832. Janice Logue represented the Tenant in that transaction. n

Metro Comm’l. negotiates 2,055 s/f lease

English Creek Shopping Center EGG HARBOR TOWNSHIP, NJ — Metro Commercial Real Estate, Inc. has negotiated retail lease agreements with two tenants for the English Creek Shopping Center in Egg Harbor Township, announced by Steven Gartner, president of Metro Commercial. The leases result in a total of 4,110 s/f of retail shopping in the center, located at 3003 English Creek Avenue. Metro Commercial serves as the exclusive leasing agent for the

250,000 s/f property, which is owned by English Creek, LLC. The leases include the following: • A 2,055 s/f lease with Miracle Ear, an auditory clinic. • A 2,055 s/f lease with One Stop Uniform, a discount national uniform store. Metro Commercial’s vice president Brent Barbehenn served as the leasing agent for English Creek Shopping Center in the negotiations. n

Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 21B

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SHOPPING CENTERS Planet Fitness opens 17,380 s/f gym at Capitol Plaza

Levin Management signs a 31,612 s/f lease for Big Lots

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B.R. Kreider & Son will work for you during your next building or expansion project:

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ARNEGAT, NJ — Retail real estate services firm Levin Management recently signed Big Lots as the new anchor for Bayshore Plaza in Barnegat, which is slated to open in August. The nation’s largest broadline closeout retailer has completely filled a 31,612 s/f space formerly occupied by A&P. Located on Route 9 at the intersection of Bay Shore Drive. Bayshore Plaza serves as a popular local shopping destination, and an ideal location for a wide range of uses, according to Matthew K. Harding, Levin Management’s president and chief operating officer. Additional tenants at the 59,232 s/f property include McDonald’s, AT&T Wireless, Barnegat Pharmacy, and a mix of local restaurants and services. Only one, 4,200 s/f unit remains available. EWING, NJ — Fitness centers continue to be one of retail’s fastest-growing segments, and Planet Fitness illustrates that trend with a new, just-opened 17,380 s/f gym at Capitol Plaza in Ewing. The 357,000 s/f Capi-

Coldwell Banker Commercial Pennco arranges $240k sale

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tol Plaza is exclusively leased and managed by Levin Management. “Gyms and fitness centers continue to generate considerable traffic all across the country,” said Matthew K. Harding, president and COO of Levin Management. “Planet Fitness is a true leader and innovator

in its field, and its presence at Capitol Plaza adds a very important element to the center.” Planet Fitness, one of the fastest growing fitness chains in the U.S., joins a tenant roster anchored by Marshalls, Sav-A-Lot, Harbor Freight Tools, Forman Mills and the recently-expanded American Furniture. n

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We’re looking for sites in PA 112-114 Meyer Road NAZARETH, PA — Teresa Mickens, CCIM of Coldwell Banker Commercial Pennco Real Estate based in Stroudsburg, PA, has recently arranged the $240,000 Sale of 112-114 Meyer Road in Nazareth. The stand alone commercial retail property was well maintained and located in a great neighborhood. This building has over 8,800 s/fof space. Two separately metered units, one over head garage door. What a great investment property or opportunity to operate a neighborhood business locally. B1 Zoning allows for multiple uses for this newly purchased property. Teresa Mickens, CCIM represented both the seller Lewis and Elaine Kurter and the buyer Janet M. JenningsOche in this sales transaction. n

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22B — August 31 - September 13, 2012 — Shopping Centers — Mid

Atlantic Real Estate Journal

www.marejournal.com

Shopping Centers

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 Fern Park Fern Park Plaza Semoran Blvd. (Hwy. 436) & Hwy. 17/92 131,646 SF GLA Aldi, Deals Prime Corner/Junior Box Space Available Future Shopping Center 26 Acre Jalai Redevelopment Site 6405 Hwy. 17/92 & Fernwood Blvd. near Hwy. 436 153,650 SF GLA Anchor Space & Outlots Available Gainesville Mixed Use – Grocery Store & Student Housing NW 13th St & University Avenue 1.74 Acres 26,000 SF Ground Floor Retail in Proposed 198,000 SF 8-Story Bldg 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. Former Kmart Available 134,797 SF GLA

INDIANA South Bend South Bend Shopping Center US Hwy. 20 & US Hwy. 31 112,900 SF GLA / Anchor Space Available Warsaw The Market Place U.S. Hwy. #30 & Water St. JC Penney, Sears, Elder-Beerman, Pier 1 180,000 SF GLA KENTUCKY Ashland Russell Centre Route 23 & Diederich Blvd. Lowe’s, Super Kroger 272,000 SF GLA / In-line Space & Pad MARYLAND Hagerstown Long Meadow Shopping Center Potomac Ave. (Route 60) & Northern Ave. Ashley Furniture, CVS, PA Dutch Market 243,000 SF GLA Anchor Space/Pad Available Randallstown Brenbrook Plaza Liberty Rd. & Brenbrook Dr. Home Depot 139,000 SF GLA MASSACHUSETTS Billerica Shops at Billerica Boston Rd. (Rte. 3A) & Tower Farm Rd. Kmart, DeMoulas Supermarket 275,000 SF GLA Anchor Space Available Lowell Meadow Brook Center 181 Plain St. & Lowell Corridor (Rte. 4) Target, Marshalls, Chuck E. Cheese 271,377 SF GLA Milford Kmart Shopping Center Medway St. & Beaver St. @ I-495 Kmart, Dollar Tree 140,470 SF GLA Future Expansion Space Available MICHIGAN Grand Blanc Holly Rd. & I-75 Vacant Land / 22 Acres For Sale

Management LLC

MICHIGAN 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 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 4.8 Acres Available for Development NEVADA Las Vegas Kmart Plaza E. Sahara Ave. & McLeod Dr. 127,754 SF GLA 10,945 SF Outbldg. Available Kmart Sunset Plaza 3780 E. Sunset Rd. & S. Sandhill Rd. Kmart 86,479 SF NEW JERSEY Marlton (Evesham) Tri-Towne Plaza Route 70 & Plymouth Dr. Superfresh/176,519 SF GLA Anchor Space Available Redevelopment Opportunity 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 5,300 SF Pad Building

Thomas G. Mirandi 212-265-6600 Ext. 239 Email: tmirandi@rdmanagement.com Fax: 212-459-9133

Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 23B

www.marejournal.com

SHOPPING CENTERS +

200 retail projects NEW JERSEY Parsippany Future Development Route 46 (Bloomfield Ave.) & Cherry Hill Rd. 26.63 Acres/Supermarket Anchor Anchor, In-Line & Pads Available

NEW YORK Nanuet Home Depot Plaza Route 59 & Hutton Ave. Home Depot, Staples 250,000 SF GLA/Pad Available

Vineland Vineland Marketplace S. Delsea Dr. (Route 47) & College Dr. New Development Anchor Space / Outlots Available

Orangetown Orangeburg Commons Route 303 & Palisades Parkway Super Stop & Shop Pads Available

Kmart Plaza Expansion S. Delsea Dr. (Route 47) & Route 55 Kmart, TD Bank Two Parcels: 4.302 & 4.486 Acres Across from Cumberland Mall

Stony Point Stony Ridge Plaza Route 9W & Park Rd. US Post Office, Curves For Women 21,212 SF GLA

Williamstown Williamstown Shopping Center Black Horse Pike (Route 42) & Main St. CVS, Fashion Bug, Dollar General 85,000 SF GLA Anchor Space Available

Williamsburg (Brooklyn) Northside Piers Retail 20 North 5th St. & Kent Ave. Duane Reade 5,178 SF Available

NEW YORK Bellport (Long Island) Former Outlet Center 790 So. Sunrise Highway (Rte. 27) & Station Rd. To be renovated / up to 130,000 SF GLA 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) Future Redevelopment Saratoga Rd. (Route 50) & Glenridge Rd. 174,000 SF GLA In-Line Space & Pad Available Holtsville Island 16 Cinemas Shopping Center Nicholls Rd. & Long Island Expwy. National Amusements Theater, Chili’s 117,342 SF GLA Latham/Colonie (Albany) Kmart Shopping Center Route 7 & Swatling Rd. 118,863 SF GLA Up to 10,000 SF Outlot Available

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 Redevelopment Opportunity TEXAS Ft. Worth Westcliff Shopping Center Albertson’s Market, Dollar General Alton Rd. & Biddison St. 133,332 sf GLA

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

UTAH Salt Lake City 410 S. 900 E. & 400 S. Freestanding Office Max New In-line Space & Pad Available VIRGINIA Richmond Food Lion Plaza Rte..1 (Jefferson Davis Hwy.) & Chippenham Pkwy. Outlots Available

Oregon (Toledo) Vacant Land – 4.645 Acres Dustin Rd. & Isaac Street Dr. 1 block south of Navarre Ave. (Rte. 2) & Kmart OREGON Salem Kmart Shopping Center Mission Street S. E. & 25th St. 116,866 SF GLA PENNSYLVANIA Allentown Home Depot Plaza Lehigh St. & Route 78 220,000 SF GLA / 9.82 Acres Available

Monroe/Woodbury (Long IslandHarriman Commons Routes 17 / 6 & Route 32 Wal-Mart, Home Depot, BJ’s, Target 687,716SF GLA Anchor Space & Outlots Available Future Phase III Office or Retail

PENNSYLVANIA Trexlertown Macungie Crossing Shopping Center Hamilton Blvd. (Route 222) & Grange Rd. Future Strip and Pads

Management LLC

Carlisle Hanover Street (Route 34) & I-81 Home Depot, Chili’s 140,715 SF GLA 10,584 SF Future Expansion/Pad

Winchester Freestanding Kmart S. Pleasant Valley Rd. & E. Jubal Early Dr. 88,479 SF GLA WEST VIRGINIA St. Albans St. Albans Center Route 60 & MacCorkle Ave. SW Kmart, Super Kroger, Goody’s, 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

24B — August 31 - September 13, 2012 — Shopping Centers — Mid

Atlantic Real Estate Journal

www.marejournal.com

People & Company News Bringing over 23 years of experience in retail business Features energy efficient day lighting system

Katri joins the Goldstein Group as a sales associate

ARAMUS, NJ — Continuing The Goldstein Group’s expansion efforts, Emil Katri has joined as a sales associate, announced president Chuck Lanyard of The Emil Katri Goldstein Group. Emil brings over 23

years of experience in the retail business sector. Emil worked with several department stores and gained expertise in retail marketing, store design, product placement, and the daily operations of retail businesses. He has experience managing his selfowned single and multi-unit residential properties and is fluent in several languages. He will be specializing in

Lakeland Bank relocates operations & training cntr.

Urban / Central business district locations. “We are excited to welcome Emil to The Goldstein Group as part of the on-going expansion of our sales and marketing efforts to better service our clients,” stated Chuck Lanyard, president. “Emil’s in-depth experience in the retail sector provides the ideal expertise for supporting the needs of our tenant and landlord clients.” n

Winchester joins BL Companies’ Board of Directors with thirty years of experience MERIDEN, CT — BL Companies announced that Steve Winchester has joined its Board of Directors. S t e v e started his career with McDonnell Douglas and then joined Black & Veatch, a glob- Steve Winchester al engineering firm, where he served in various capacities for sixteen years ending as the regional manager of the Pacific Northwest Region’s Water

and Wastewater Business. He then moved to Psomas, one of the top-ranked engineering firms serving clients in the transportation, water, site development federal and energy markets across the Western United States. Steve served the firm as the senior vice president/principal–Water/ Wastewater Division Head. In 2010, Steve formed his own firm, the Winchester Consulting Group LLC, to assist companies serving the water industry, including engineering, technology and venture capital firms.

West Chester, PA —Pennoni Associates announced that Joe Viscuso, PE, PLS, has been named vice president Joe Viscuso and office director for the firm’s West Chester location. He will

also manage the firm’s work in the Marcellus Shale industry. Viscuso previously served as vice president and commercial sector lead for Stantec. Viscuso brings 39 years of experience to Pennoni. His work specialties include site-civil design and land development permitting and entitlement. He currently serves as the Township En-

Jefferson Mayor Russell Felter, and landlord John Azarian, center, get ready to cut the Lakeland Bank teal ribbon with members of the Bank’s senior management team Lou Luddecke, chief operations officer; Steve has a B.S. in Business Mary Ann Deacon, chairman of the board; and Thomas Shara, Administration and an M.B.A. president and chief executive officer. in Finance and Marketing. His JEFFERSON, NJ — Thomas cupy the space at 5716 Berkshire thirty years of broad-based operational experience, including J. Shara, president and CEO Valley Road, which had been international, mergers and ac- of Lakeland Bank, has an- vacant since the A&P moved quisitions, turnarounds, sales nounced the relocation of Lake- about 10 years ago. The Bank and strategic planning will land Bank’s Operations and finished extensive renovations to serve BL well as we continue to Training departments to a site 27,000 s/f of the facility in June, and completed the relocation of grow and expand in our target in Jefferson. “The opportunity to relocate staff to the new center in July. markets. Steve joins current external our staff to a facility near our The Bank is currently seeking Board members, Steve Fisher headquarters was a win for our a sub-tenant for the remaining and Waite Dalrymple as well colleagues and the Bank as well 7,500 s/f. The renovation of the former as four internal Board mem- as the Jefferson community,” bers: Mark Koellner, Jennifer said Shara. “The Bank’s execu- supermarket space into an ofMarks, Rainer Muhlbauer and tive team was pleased the reloca- fice environment included the tion would have minimal impact installation of environmentally Carolyn Stanworth. n on our colleagues while helping friendly day lighting. The use of to improve the appearance and day lighting will direct natural business activity in this com- lighting to the center of the mercial zone. building which is good for our gineer in Aston Township Lakeland Bank colleagues colleagues. Studies show that and the Township of Upper and the Board of Directors joined natural light makes workers feel Chichester. He developed Jefferson Mayor Russell Felter, and work better, prevents eye the curriculum for a Land local dignitaries and landlord strain, and boosts productivity. Development course at Wid- John Azarian at a Ribbon Cut- Plus it’s good for the environener University, where he ting Ceremony. Once the teal ment. The U.S. Department of serves as an Adjunct Pro- ribbon was cut, Shara invited Energy’s Federal Energy Manfessor, and he has spoken guests to tour the new office agement Program reports that nationally on the permitting space and enjoy light refresh- day lighting can significantly cut and entitlement process ments with the Bank staff. lighting energy use for lighting and written and published Lakeland Bank purchases building interiors, sometimes by numerous articles on the rights under the A&P lease to oc- up to 75% or 80%. n topic. n

Pennoni Associates names Viscuso VP and office director for the West Chester location

Fameco hires new salespeople & expands propety mgmt. grp. CONSHOHOCKEN, PA Fameco Real Estate, LP, announced that it has hired 3 new salespeople and has expanded its property management group with the hire of a new property management accountant and several internal moves to better support its growth. The newest addition to the Plymouth Meeting office is Rich Guthridge. Guthridge served as an intern at Fameco last summer. Haley Samsi has joined the Center City office. Prior to joining Fameco, Samsi was the retail outreach manager for Philadelphia’s Center City District. Fameco’s Woodbridge, New Jersey office

has welcomed Martin Khait. Khait worked in Fameco’s Center City office as part of his collegiate work/study program. Fameco’s Management division has increased the size of its portfolio with the addition of several high profile assignments including Stanbery Development’s Pennsylvania and New Jersey shopping center portfolio and other assignments from major Philadelphia based owners. This growth has necessitated the need for additional property management staff and two promotions. Doug Spinler has joined the team as a property management accountant. He spent the past 2 years at Stoltz Manage-

ment Company and another 14 years at RREEF Management Company. In an internal move, Albert Yaghooty has been promoted to property management accounting supervisor managing the group’s 7 Property Management Accountants. Yaghooty formerly served as one of the group’s property management accountants for 2 years. Terri Stachowitz has been promoted and will assume the role of the accounting group’s executive assistant. Stachowitz has been with Fameco for 1 year and came to the company with several years of property management accounting experience. n

Regal Bank recognized as 5-Star Superior Bank by BauerFinancial

LIVINGSTON, NJ — Regal Bank was recently recognized as a 5-Star Superior Bank by BauerFinancial, Inc., the nation’s leading bank rating and research firm. The prestigious 5-Star rating indicates Regal is one of the strongest banks in the nation, excelling in areas of capital and asset quality, profitability, and much more. “It’s been a goal for Regal Bank to provide the utmost service to our customers while helping them reach their financial goals,” says Regal bank chairman David Orbach. “This 5-Star rating

testifies to our dedication to continued success and growth.” BauerFinancial, Inc. president Karen L. Dorway said, “As big banks grow increasingly complex and inflexible it’s encouraging to know there are still community banks, like Regal Bank, that have mastered the three R’s of banking. Regal Bank is 1) Responsive to its customers’ needs, 2) Responsible in its underwriting and investments, and 3) Respected by the nation’s premier bank rating and research firm as well as its customers.” n

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Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 25B

Shopping Centers More than 81,000 s/f of leased retail space

Divaris RE arranges 26,060 s/f lease for Children’s Museum of Richmond

IRGINIA BEACH, VA — Gerald S. Divaris, chairman and chief executive officer of Divaris Real Estate Inc. (DRE), announced the following lease transactions were completed for more than 81,000 s/f of retail space in central Virginia: Children’s Museum of Richmond leased 26,060 s/f of retail space in the Divarisleased Winterpock Crossing Shopping Center, located at 6628 Lake Harbor Drive in Midlothian, VA. Zachary Means, Larry Agnew and Sara Goodall of the Richmond office of Divaris Real Estate, Inc. handled the lease for the landlord, JNB Company of Virginia. K&G Menswear has signed a lease for 22,888 s/f of retail space in White Oak Village, located on Laburnum Avenue in Richmond. Brett McNamee handled the lease for the tenant in negotiations with the landlord, Forest City Commercial Group. Ulta Cosmetics has signed a lease for 12,858 s/f of retail space in Valley View Mall located in Roanoke, Virginia. DRE’s Debbie Wake and McNamee handled the deal for the tenant. CareMore Medical Enterprises leased 10,000 s/f of retail space in the Divarisleased Parkway Shopping Center, located at 6323 Jahnke Road in Richmond. DRE’s John Madures handled the lease for the landlord, Lim Family Partnership. Luxottica Retail North America, Inc. renewed its lease for 3,288 s/f of retail space in the Divaris-leased and -managed Parc Place, located at 11740 West Broad Street in Richmond. DRE’s Goodall handled the transaction for the landlord, Gibraltar Virginia S, LLC. Stavna Dance Academy leased 2,986 s/f of retail space at The Shoppes at Belvedere, located at 11420 Belvedere Vista Lane in Richmond. McNamee handled the lease for the landlord, The Shoppes at Belvedere, LLC. The property comprises more than 22,000 s/f of retail and restaurant space, including Firebirds Restaurant and Sushi Box. Glenn J. Weaver leased 1,920 s/f of retail space at Victorian Square, located at 10813 Hull Street Road in Midlothian. Madures repre-

MAREJ’s Commercial

Real Estate Law SPOTLIGHT

Publication date: September 14 | Deadline: September 5, 2012 Winterpock Crossing Shopping Center sented the landlord, Whar- ketplace, located at 10821 ton Realty Group Inc., in the West Broad Street in Glen lease transaction. Allen, Virginia. The lease Creative Touch Interiors, was handled by Goodall and Inc. leased 1,750 s/f of re- McNamee for the landlord, tail space at Parkside Mar- PNK, LLC. n

Special advertising rates to all participating firms. Elaine Fanning efanning@marejournal.com Tel: 1-800-584-1062 x 212 Mid Atlantic Real Estate Journal www.marejournal.com

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26B — August 31 - September 13, 2012 — Shopping Centers — Mid

Atlantic Real Estate Journal

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Shopping Centers New Pet Supplies Plus stores in the Delaware Valley

Fameco Real Estate signs 3 leases totaling 26,000+ s/f

Lamport & Roberts negotiate the lease

Breslin Realty reps 13k s/f lease for Trader Joes

ONSHOHOCKEN, PA - Fameco Real Estate, LP announced that Pet Supplies Plus has signed leases for three new stores in the Delaware Valley totaling more than 26,000 s/f. Since taking over the assignment in February of 2012, Fameco partner Brandon Famous and director Brian Bruzek have already secured 3 new stores for Pet Supplies Plus, all of which will open by year’s end. These include an 8,700 s/f unit at Greentree Square Shopping Center in Marlton, NJ; a 9,800 s/f

Pet Supplies Plus store at Doylestown Pointe in Doylestown, PA; and a 7,650 s/f

location at The Shops at Blue Bell in Blue Bell, PA. n

Building mgmt. & security should be flexible . . . Continued from page 9B services are an easy way to “green” a property and reduce expenses by maintenance personnel. Other incentives may include rebates from local utility companies and reduced util-

ity expenses. There has never been a better time to connect to your real estate – there’s an app for that! Jonathan Epstein, CCIM and Tom Skeans, CCIM are

commercial real estate owners, managers and co-founders of Real Connect, LLC., a building automation and security company based in Allentown, PA. n

Target Building paves the way for Stanley’s Hardware . . . Continued from page 11B WIP and B101. Stanley’s True Value Hardware – Expanding and Evolving For The Next Generation. In 2010, Joe and Mark Jaconski felt the need to transform Stanley’s Hardware to meet the needs and wants of today’s hardware customer. While the Jaconski family had increased its footprint at 5555 Ridge Ave. by acquiring neighboring properties over the years, it was time to expand to a state-of-the-art facility. To meet the needs of their customers, Mark and Joe set their sites on adding party and tool rental services and a small garden supply inventory.

The Jaconski brothers contacted a national consultant to True Value Hardware, Legend Realty Services, to help plan the construction of a new building. The project architect, OKW Architects, designed a site layout with the new building placed on the existing parking lot to permit continuous operation throughout construction. Target Building Construction was awarded the project to build a 13,000 s/f store at the Ridge Avenue location. Working with an April 2013 deadline for project completion, every stage from site preparation and demolition of existing buildings to construction and fit-out requires

execution without compromise. Paramount is maintaining absolute safety, uninterrupted traffic flow and easy access to sustain the business as building progresses to completion. Said Rich Goodman, President, Target Building Construction, “It’s rewarding to build a retail project for a family business like ourselves. Through preconstruction and now during construction, we found common ground with the Jaconski brothers and it’s easy to see why they are successful.” William P. Stevenson, III, is director of business development for Target Building Construction. n

Addressable lighting controls work to improve . . .

Continued from page 13B OSRAM recently introduced its ENCELIUM Polaris 3DTM software, the first-of-its-kind, web-based application featuring an interactive three-dimensional view of a property in realtime. Polaris 3D creates energy savings reports for a floor, zone, or even a fixture based on the desired timeline whether it is a day, week, month or year. These capabilities enable users to quickly identify irregularities and make adjustments as needed. Credit for Going Green An intelligent lighting control system regularly meets or exceeds today’s sustainable requirements, and incentives are often available to property owners to help offset the finan-

cial investment of new energyefficient systems. Incentives range from local utility efforts to state and federal programs. In addition, advanced systems contribute valuable points toward U.S. Green Building Council’s (USGBC) Leadership in Energy and Environmental Design (LEED) for Retail certification. It consists of two separate rating systems, which are LEED for Retail: New Construction and LEED for Retail: Commercial Interiors. Both were developed by the USGBC to specifically address the unique nature of a retail facility. By improving the sustainability of their properties and reducing their carbon footprints, retailers are viewed

as leaders in environmental stewardship and as better neighbors, which also serves to positively impact a store’s overall profitability. Getting Started The first step for retailers to gain control of their lighting energy use and expenditures is to have a vendor complete a lighting audit. Through an audit, the vendor can identify the “low-hanging” fruit in terms of efficiency and detail how a pilot program on strategic areas would demonstrate potential energy savings and reinforce the findings of an audit. Terry Mocherniak, director global business development for the LMS business unit of OSRAM SYLVANIA.n

The Gallery at Westbury Plaza GARDEN CITY, NY — Wilbur F. Breslin, president of Breslin Realty Development Corp., announced that his firm negotiated a deal with Trader Joe’s for its newest 13,000 s/f location at The Gallery at Westbury Plaza. Breslin announced that his firm was responsible for Trader Joe’s locations in Plainview; Lake Grove and Commack, and now Garden City. Trader Joe’s is the second

retailer to open at the new 330,000 s/f shopping center after The Container Store, which opened on August 11, 2012. The new shopping center will feature Bloomingdale’s Outlet store; Saks Fifth Avenue Off 5th; The Container Store and the Shake Shack. Beth Lamport of the Breslin Organization and Roy Roberts of Milestone Associates were responsible for the long term lease transaction. n

Rosenthal Properties finalizes three leases at Rio Hill SC CHARLOTTESVILLE, VA — Rosenthal Properties recently finalized leases with three, national tenants at its Rio Hill Shopping Center in Charlottesville, boosting the nearly 290,000 s/f community center to over 90% occupancy. Jo-Ann Fabric, which previously occupied just 12,000 s/f at the property, opened a new, 21,000 s/f store at the center. In addition, Oreck Home Center has opened a 1,600 s/f space, The Great Frame Up has committed to a 1,600 s/f space next to TJ Maxx, and long-time tenant Payless Shoe Source renewed its lease for 2,400 s/f at the center. Both

Oreck and The Great Frame Up are relocating from other retail locations nearby on Route 29. “Rio Hill is one of the largest and busiest retail centers in Charlottesville’s Route 29 corridor,” said Rosenthal Properties’ vice president for Leasing Billy Orlove, “so when the opportunity for Jo-Ann to expand within the center presented itself, it made perfect business sense. Jo-Ann now has a store comparable in size to the company’s new store prototype, with an existing customer base to enjoy the increased space and store offerings.” Jo-Ann opened in its new space in April. n

“Retail” Healthcare

Continued from page 14B and therefore are sited accordingly. Other “Retail” forms of medical care include Wellness Centers and Healthcare Villages. Both reflect a shift in healthcare to an emphasis on wellness, physical fitness and prevention of illness and injury while often including doctor’s offices. Both are found in locations that fit into their users daily routines; easy to get to, convenient parking, located near home and

work and include amenities like restaurants, pharmacies and child care. Buck Collins is the director of Client Services for Bohler Engineering. Bohler ’s 13 East Coast offices have completed numerous healthcare projects including the new Einstein Montgomery Hospital in East Norriton, Pa. and multiple Bravo Health Advanced Care Centers in Philadelphia. n

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Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 27B

SHOPPING CENTERS COMMERCIAL REAL ESTATE

Anna & Sofia Ave., Blandon Last 3 lots available for Sale in Melrose Park 5320 Allentown Pike Temple Perfect for Hotel and/ or Retail use

2203 Lancaster Pike Shillington First Time on Market !

4090 & 4100 Perkiomen Ave., Reading High Profile Corner

CrossKeys center, Muhlenberg 5.13 Acres for Sale 201 Front St., Hamburg

Great Retail & Commercial Sites in Berks County (SE PA) x6.41 Acres xStrategically located between Wal-Mart Supercenter & Sam’s Club xOffered for Sale

x24,886 SF building for Sale w/16,000 SF available for Lease x2.78 Acre site w/ 20,000+ vehicles/day xPerfectly located where Wyomissing, Shillington & Mohnton meet

x4090 offered for sale Pad ready x4100 offered for sale Perfect for hotel/retail x22,000 vehicles/day xLocated .25 mile from Rte.422, I-176 and Rte.222

610--779--1400

2.50 Acres for Sale Close to Cabela’s Perkiomen Ave., Exeter 2.78 Acres for Sale near Wal-Mart

www.NAIKeystone.com

PROPERTY MAINTENANCE

28B — August 31 - September 13, 2012 — Shopping Centers — Mid

Atlantic Real Estate Journal

www.marejournal.com

RETAIL BROKERAGE DIRECTORY Azarian Realty Co. The Azarian Building • 6 Prospect St. Suite 1B • Midland Park, NJ 07432 P: 201-444-9888 F: 201-444-6655 www.azariangroup.com info@azariangroup.com John M. Azarian • Donna M. Azarian • Kevin Pelio Nicole Critelli • Matt Scozzari

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

Coldwell Banker Commercial Pennco Real Estate 1250 North 9th Street • Stroudsburg, PA 18360 P: 570-476-7711 F: 570-476-6130 email: cbcpennco@tpd.net www.cbcpennco.com Spiros Bilianis, CCIM • James Fondi Teresa Mickens, CCIM • Susan Mikels Northeast Pennsylvania Expert

Grant Street Associates, Inc. A Cushman & Wakefield Alliance Member The Grant Building, Suite 1550 310 Grant Street Pittsburgh, PA 15219 412.391.2600 - Main • 412.391.2633 - Fax www.gsa-cw.com • Twitter: @GrantStCRE Jared Imperatore • J. R. Yocco

Equity Retail Brokers 101 West Elm Street • Suite 370 Conshohocken, PA 19428 P: 610-645-7700 F: 610-645-5454 info@equityretailbrokers.com Stuart Conston • Bart Delfiner • Ed Ginn • David Goodman Kathy Haines • Greg Jones • Eric Kuhn •Ken McEvoy Rob Samtmann • Rose Urban • Brian Wherty • Rich Zeller

Fameco - Woodbridge, NJ Woodbridge Towers • 555 U. S. Hwy 1 Iselin, NJ 08830 P: 732-526-9000 F: 732-526-9101 www.fameco.com Tyler Bennett • Carlo Caparruva Mike Horne • Scott Jennerich Marty Khait • Steven Winters Fameco - Philadelphia, PA 1425 Walnut Street • Suite 200 Philadelphia, PA 19102 P: 215.557.0050 F: 215.557-0053 www.fameco.com Jackie Balin • Paige Barrow Michael Gray • Eva Francis Haley Samsi • Larry Steinberg

Colliers International – Philadelphia, PA (HQ) Ten Penn Center 1801 Market Street, Suite 550 Philadelphia, PA 19103 P: 215-925-4600 F: 215-925-1040 www.colliers.com/philadelphia Michael Barmash • Despina Belsemes David Dunkelman • Michael Kahan Todd Sussman Colliers International – Allentown, PA 7535 Windsor Dr., Ste. 208 Allentown, PA 18195 P: 610-770-3600 F: 610-770-3100 Derek Zerfass • Scott Horner

Fameco - Conshohocken, PA 625 West Ridge Pike Building A, Suite 100 Conshohocken, PA 19428 P: 610-834-8000 F: 610-834-1793 www.fameco.com Cathy Agnew • Colin Behr • Brian Bruzek • Jeff Cohen Jim Creed • Scott Dennis • Brandon Famous John Fasciano • Rich Guthridge • Dana Hawkins David Hinkle • Jerry Johnson • Jon Kieserman Adam Kohler • John Krause • Jon Kushner Gary Leone • Richard Lipsky • Marc Mandel Matt Mandel • Jay Miller • Steve O’Malley David Orkin • Dale Peterson • Rick Schuch Daniel Sonnentag • Julie Tanpitukpongse Rick Weinberg • Fred Younkin

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

The Goldstein Group 45 Eisenhower Drive • Paramus, NJ 07652 P: 201-703-9700 F: 201-703-9678 www.thegoldsteingroup.com Peter Charshafian • Lew Finkelstein • Matt Flath Alan Goldstein • Neil Goldstein • Mark Handwerker Chuck Lanyard • Sherwin Maali • Donny Moskovic Greg Panayoti • Nick Spadavecchia • Ted Economou Jesse Finkelstein • Ryan Glastein • Donald Goldstein C J Huter • Scott Milich • Curtis Nassau • Jay Schwartz Florian Suserman

Kay Realty Services, LLC 1989 Jumping Brook Rd. Tinton Falls, NJ 07753 P:732-918-1148 F:732-918-1628 www.kayrealtyholdings.com William Klein, Broker • Developer Property Management • Leasing

KW Commercial-The James Balliet Commercial Group 40 S. Cedar Crest Blvd. • Allentown, PA 18104 P:610-435-4711 F:610-435-2800 James Balliet • Robert Thompson • Heather Lynne Dr. Rex D’Agostino • Melanie E. Stocker James Barbour • Christopher Milotich

120 North Pointe Blvd. • Suite 301 • Lancaster, PA 17601 1200 Greensprings Drive • York, PA 17402 P: 717-569-9373 T: 800-864-2633 www.LMS-PMA.com Joe R. Deerin, CSM • Donna Deerin Ward • Dave Nicholson Blaze Cambruzz • Michael Boden, SCSM • Chad Ward Blake Gross • Joe Spagnola, CCIM • Ted Hummel, CCIM Wilay Boensch • Ryan Myers, CCIM • Jeremiah Hamilton Travis Riley • Patrick Cullen • Marisa Benjamin

David S. Feldman Regional Manager – Washington DC Office Special Assets Services – Regional Director 7200 Wisconsin Ave. • Ste. 1101 • Bethesda, MD 20814 P: 202-536-3700 F: 202-536-3710 www.marcusmillichap.com

Michael J. Fasano Vice President and Regional Manager 611 River Dr. • 4th Floor • Elmwood Park, NJ 07407 P: 201-582-1000 F: 201-582-1010 www.marcusmillichap.com

Spencer Yablon Vice President and Regional Manager 101 West Elm Street • Suite 600 • Conshohocken, PA 19428 P: 215-531-7000 F:215-531-7010 www.marcusmilllichap.com

Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 29B

www.marejournal.com

RETAIL BROKERAGE DIRECTORY \

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 Mary Hughes • Jonathan Klear • Tom Londres Lauren McDermott • Pete Nicholson • Kurt Rumley Paul Rumley • George Wisnoski Metro Commercial - Conshohocken, PA Eight Tower Bridge • 161 Washington St. • Suite 375 Conshohocken, PA 19428 P: 610-825-5222 F: 610-825-5156 Phil Azarik • Joe Dougherty • Donna Drew •Steve Gartner Brian Goodwin • Randy Hope • Glenn Marvin Mike Murray • Steve Niggeman • Roy Perez-Daple Aaron Repucci Metro Commercial - Center City 123 S. Broad St. • Suite 1835 Philadelphia, PA 19109 Michael Gorman • Steve Gartner • Lars Kerstein

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

NIA National Realty, Inc. The NIA Realty Building 66 Route 17 N. • Suite 900 Paramus, NJ 07652 P: 201-845-6606 F: 201-845-3012 www.nianationalrealty.com sales@nianationalrealty.com Roger Gross, CCIM, President, rgross@nianationalrealty.com Richard Brock, VP, rbrock@nianationalrealty.com Nina Bianco, Corporate Sales , nbianco@nianationalrealty.com

Pierson Commercial Real Estate, LLC 704 Ginesi Drive, Suite 24 Morganville, NJ 07751 732.707.6900 www.piersonre.com Jason Pierson jason@piersonre.com

Remco Realty Group 1215 Livingston Ave • Suite 2 • North Brunswick, NJ 08902 P: 732-253-0888 F: 732-253-0887 www.remcorealty.net Peter Gallicchio, Owner/President Nicole Zeller • Brian Heller Joseph Marino • Mark DiGiovanni

Rock Commercial Real Estate LLC 221 W. Philadelphia • St. Suite 19 • York, PA 17401 www.rockrealestate.net Ryan Myers, CCIM, • Larry O’Brien, CCIM Benjamin Chiaro, CCIM • Cami Spiridonoff, CPM David Bode, CCIM, SIOR • Dave Keech, CCIM, SIOR Jason Turnbull, CCIM • Kevin Hodge, CCIM Michael Katz, CCIM • Russ Bardolf, CCIM Ted Turnbull, CCIM

Silbert Realty & Management Company, Inc. 85A Division Ave. • Millington, NJ 07946 P: 908-604-6900 F: 908-604-2030 www.silbertrealestate.com info@silbertrealestate.com Brian S. Silbert • Joel Tomlinson • Wayne Kasbar David A. Greenman • William Ray

Summit Realty LLC F: 908.832.0267 www.summitrealtyllc.com Robert A. Delia Office: 908-832-0276 Cell: 201-615-4450 bdelia@summitrealtyllc.com Jeff Mullen Office: 973 729-1092 Cell: 973-903-2208 jmullen@summitrealtyllc.com

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30B — August 31 - September 13, 2012 — Shopping Centers — Mid

Michael Kercheval President & CEO ICSC

Brad M. Hutensky ICSC Chairman

Northern NJ STATE DIRECTORS

PA/DE/S.NJ: John-david W. Franklin State Director Madison Marquette

Steven H. Gartner

DC/MD/N.VA:

Metro Commercial Real Paul Weinschenk The Petterson Companies Estate

S.VA: Christopher E. Rouzie Government Relations Cushman & Committee Chair Wakefi eld | Thalhimer

Michael A. Mozzachio

GOVERNMENT RELATIONS Chancellor Development COMMITTEE CHAIR Group PA: Joesph J. Viscuso, PE Alliance Co-Chair Pennoni Associates

Edward A. Shriver, Jr. S. NJ: Scott R. Dare Strada Dare Living Associates

S.VA: Operations Co-Chair Jeﬀrey W. Broderick EDC Lynda CDP E. Benedetto, SCSM DC/MD/N.VA: ThomasSimon C. Barbuti Kravco Co. Whiteford, Taylor and Preston LLP

Retail Co-Chair

ALLIANCE CO-CHAIR Roy T. Perez-Daple PA/DE/S.NJ: Lowe’s Companies Russel Jenkins Zamias Services Inc.

Next Generation Chair DC/MD/N.VA: Eric S. Palumbo Penney Patricia Klein Enterprises Centro Properties Group S.VA: ToniaExchange E. Peake Idea

McCandlish Holton PC

Program Planning Committee Co-Chair NEXT

GENERATION CHAIR Timothy Rubin PREIT PA/DE/SNJ: Thomas Gorman

Marcus & Millichap

Idea Exchange S.VA: Program Planning ComLindsey C. Floyd mittee Co-Chair Cushman & Wakefield | Thalhimer

Brandon Famous DC/MD/N.VA: Fameco Bradley A. Buslik H & R Retail, Inc.

Atlantic Real Estate Journal

www.marejournal.com

Member of International Council of Shopping Centers John-david Franklin Adam Ifshin Director, Eastern Division www.icsc.org VP & Trustee

PA/DE/S.NJ

Paul Weinschenk Christopher E. Rouzie Director, Director, DC/MD/N.VA S.VA

Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — 31B

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32B — August 31 - September 13, 2012 — Shopping Centers — Mid

Atlantic Real Estate Journal

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Mid Atlantic Real Estate Journal — Shopping Centers — August 31 - September 13, 2012 — Inside Back Cover B

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B Back Cover — August 31 - September 13, 2012 — Shopping Centers — Mid

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