6-24-2011MARE JOURNAL

REAL ESTATE JOURNAL Vol. 23, Issue 12

Inside:

June 24 - July 7, 2011

the most comprehensive source for commercial real estate news

Mid Year Review

Sections

Mid Atlantic .......................................................Section A DelMarVa ............................................................Section A Shopping Centers ......................................... Section B Contractors, Owners & Managers ........ Section C Green Buildings ............................................. Section D

Paige Barrow Fameco Real Estate LP

Jose Cruz HFF

Michael J. Lorelli High Associates Ltd.

Ira Meislik Meislik & Meislik

Spotlights / Features Auction Directory ..........................................................4A Mid Year Review .......................................................9-17A Maryland Spotlight .............................................18-19A Sales & Leases ..............................................................21A People on the Move ...................................................22A

Commercial Industry Leaders give current state of the market ..............9-16A

Business Card Directory ........................................23A Calendar of Events..................................................... 24A BillBoards .................................................................. IBC-A Retail Profiles ..........................................................5-13B Building Facilities Maintenance ....................7-10C

Columnists

Mid Atlantic Real Estate Journal hosts it’s 3rd GREEN BUILDINGS SUMMIT

Chris Cervelli, CCIM, CPM..........................................2A

Next Issue July 8, 2011 • Mid Atlantic • Commercial Real Estate Law • NJ featuring Southern New Jersey • PA featuring Eastern Pennsylvania • Green Buildings 4 sections, 88 pages

The Mid Atlantic Real Estate Journal would like to thank all the Speakers, Sponsors, Exhibitors and Attendees for providing a successful platform for the “3rd Green Buildings Summit” Hosted by the Mid Atlantic Real Estate Journal. See section D for a recap of the conference - from the Top Leading Experts in the Industry.

http://www.cvent.com/d/0dqh40

Registration Link:

Edison, New Jersey

JFK Medical Center

Sponsorship: Sharyn Yorio – 732.249.6242 Judy Pullar – 212.312.1638

Contacts: Registration: Jeffrey Taub – 973.693.4488

Program Sponsor Chapter Sponsor

`

PRIVATE SECTOR AWARD

Director, Environmental Services and Grounds Rutgers University

Dianne Gravatt

SUSTAINABILITY AWARD

Executive Director North Jersey Transportation Planning Authority

Mary K. Murphy

Senator New Jersey’s 12th District

Jennifer Beck

PUBLIC SERVICE AWARDS

Atlantic Real Estate Journal

Sponsorship and advertising opportunities are still available…Call for details!

Program Information: The Newark Club, Newark, NJ Tuesday, June 28, 2011, 6:00-8:00 PM Registration: $40.00 SMPS Members $60.00 Non-Members

Please join the New Jersey Chapter of the Society for Marketing Professional Services in celebrating the achievements of four honorees who have made significant and lasting contributions to the Garden State’s built environment and community.

Celebrating contributions to New Jersey’s built environment

2011 Honors Program @ The Newark Club

WWW.SMPSNJ.ORG | Jeffrey Taub, President | Stephen Skorski, Past President | Karen Longo, Secretary | Frank Messineo, Treasurer | Joshua Krayger, Director | Alyse DiBlasio, Director

A Inside Cover — May 27 - June 9 , 2011 — Mid

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Mid Atlantic Real Estate Journal — June 24 - July 7, 2011 — A

EXPERTISE LOCALLY, TRUSTED NATIONALLY Making a Market from Wall Street to Main Street BELOW IS A SAMPLING OF OUR CURRENT EXCLUSIVE LISTINGS

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A — June 24 - July 7, 2011 — Mid

Atlantic Real Estate Journal

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Mid Atlantic

They wrote the policy.

Real Estate Journal

We make sure they write the check.

By Chris Cervelli, CCIM, CPM

“After the Collapse�

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eal Estate has fluctuated over the course of history in a way that though painful at times, could be measured and timed. Many of the factors that influenced the market could be understood and reasoned. The current market seems to now be controlled by many factors that are beyond our control and reason.

When the capital markets were crushed by the sub prime lending crisis, one could almost see it then. Before that day, it was evident that Americanâ&#x20AC;&#x2122;s debt was more than its equity, and at the highest rate in fact since the great depression. We have since witnessed the simultaneous failure and recapitalization of several major banks, due to their own creation, yet legislation has not been passed to prevent the very same thing from happening. All the while maintaining the painful fact that Americaâ&#x20AC;&#x2122;s backbone, the working class homeowner, still are largely over in debt and unable to meet their financial obligations. We have been playing a game of smoke and mirrors since that time, and I am deeply concerned that the very same people we rely on, the working class, are about to get hurt again.

Politicians have not come up with an answer to this countryâ&#x20AC;&#x2122;s biggest problem; debt. We owe more than we have, and we donâ&#x20AC;&#x2122;t make enough to bridge the gap. In my opinion, we will not have a reversal in this negative trend until we change our way of thinking. If the government, via thoughtful regulation

Mid Atlantic Real Estate Journal Publisher.............................................................................Linda Christman Co-Publisher..........................................................................Joe Christman Associate Publisher............................................................Dianna Mallozzi Section Publisher................................................................. Elaine Fanning Senior Editor/Graphic Artist................................................. Karen Vachon Production Intern.......................................................................Ryan Elliott Office Manager....................................................................Joanne Gavaza Editorial Consultant.............................................................. Ben Summers Guest Columnist.....................................................................Chris Cervelli Contributing Columnist.......... Richard B. St. Maur III, Coordinated Project Solutions. LLC; Dennis A. Scardilli, Esq., P.P., MAI

Mid Atlantic Real Estate Journal ~ Published Semi-Monthly P.O. Box 26 Accord, MA 02018 (Mail) 312 Market Street, Rockland, MA 02370 (Overnight) Periodicals postage paid at Rockland, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, P.O. Box 26, Accord, MA 02018 USPS #22-358 | Vol. 23 Issue 12 Subscription rates: $99 - one year, $198 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Toll-Free: (800) 584-1062 | MA: (781) 871-5298 | Fax: (781) 871-5299 www.marejournal.com The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal

and systemic change, will not guide as accordingly, then we as a people need to change our principles from that of a strict consumer. I do not say this to prevent people from spending, that is the heart of our economy, the cycling of funds, but we need to cycle funds, not credit.

Spending above our means has made the rich very rich, and the mass feel very poor. For a short while everyone felt like they were rich because they werenâ&#x20AC;&#x2122;t spending their money, they were spending credit. What really happened was many families have secured themselves in long-term stagnation.

Or have they?

Sometimes the greatest gains are realized after the greatest pains are felt. I feel a few things must happen that can guide us out of this mess quickly. There is going to be no pain free way out, but I feel that our best bet is to get through it as quickly as possible, because if there is one thing Americans are the best at, is succeeding in the face of adversity.

We must significantly and aggressively reduce government spending in order to properly

allocate taxes to lower debt.

This does not include essential services, most importantly education. If we stop investing in education, we stop investing in our future. Politicians need to get creative in expense reduction. There needs to be more oversight to prevent a government official who has 3 no show jobs. There needs to be more thought given to sharing some services like emergency, waste and recycling disposal, and other public works services.

I have seen examples where shared services with more specialized technicians are much more competent and reliable than in non-shared services.

Government must eliminate the freeze on foreclosures. I hate the fact that the government bailed out many large US corporations, and that cannot be a guide to follow. If we bail every US Citizen out that made the mistake of over leveraging, this country will never be the capitalistic powerhouse it was in the past, and we will lose our hegemonic grip which will end up costing the common person much more in the cost contined on page 6A

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Mid Atlantic Real Estate Journal — June 24 - July 7, 2011 — 3A

Mid AtlAntic ReAl estAte JouRnAl 462,720 s/f facility, designed to be LEED Silver Cert.

URBN breaks ground in DP’s Silver Lake Business Park

R

ENO, NV — Groundbreaking was held for the Urban Outfitters, Inc. (URBN), Western United States Internet Fulfillment Center. Participants included Nevada Governor Brian Sandoval; Ken Nemeth, senior development officer, and Jeff Spotts, Senior Construction Manager, of URBN; Michael Dermody, CEO and chairman, and John Atwell, COO, of Dermody Properties/DP Partners (DP); Craig Willcut, president/ CEO, and Michael Russell, COO, of United Construction Company (UCC); and Paul Kinne, business development manager with EDAWN, the Economic Development Authority of Western Nevada.

Philadelphia based Urban Outfitters, Inc., is an innovative, lifestyle-focused specialty retail company operating under the Anthropologie, BHLDN, Free People, Leifsdottir, Terrain, and Urban Outfitters brands.

The 462,720 s/f URBN facility, designed to be USGBC LEED Silver Certified, will be located at 12055 Moya Blvd. on 38.34 acres of developmentready land in the Dermody Properties Silver Lake Business Park. URBN purchased the land from Dermody Properties for an undisclosed price.

The Phase 1 building will have over 450,000 s/f of warehouse space, over 10,000 s/f of office space, automated material handling systems and a 24/7/365 data center.

The total investment by URBN, for the development, improvements and construction in the region is estimated to be almost $60 million.

The Dermody Properties/ United Construction team that worked with URBN during the process included Michael Dermody, CEO and chairman and John Atwell, COO, of Dermody Properties; and from United Construction, Craig Willcut, president and CEO; Michael Russell, COO; Mike Thomson, design manager, Dan Westman, field operations manager and Robert Schenck, Senior Estimator. Also instrumental in assisting URBN were Paul Kinne, Chuck Alvey, and Stan Thomas of EDAWN (the Economic Development Authority of Western Nevada). Brokers involved in the transaction were Rick Chancellor of McDevitt Co. and Eric Bennett of CBRE. n

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4A â&#x20AC;&#x201D; June 24 - July 7, 2011 â&#x20AC;&#x201D; Mid

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Mid Atlantic Real Estate Journal — June 24 - July 7, 2011 — A

Don’t Miss the COMMERCIAL BROKERAGE DIRECTORY *Deadline: July 1, 2011* This issue will print as a pull-out section LISTING Commercial Real Estate Brokerage Firms who are active in the New Jersey, Pennsylvania, Delaware, and Maryland areas.

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A — June 24 - July 7, 2011 — Mid

Atlantic Real Estate Journal

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Mid Atlantic Real Estate Journal Bedard of NAI CIR represented the tenant

Landmark Comm’l. Realty arranges 30,000 s/f lease

C

amp Hill, PA — Serpro, Inc. has recently leased 30,000 s/f of warehouse space at 801 Spangler Road, Cumberland County..

J a s o n G r a c e , C C I M , SIOR, vice Jason Grace president at Landmark Commercial Realty, Inc./ONCOR International represented the Ownership, 801 Spangler Road Associates, L.P.

and Joe Bedard of NAI CIR represented the tenant in the transaction.

The U.S. Department of Agriculture has leased 3,675 s/f of office space located at 2300 Vartan Way, Harrisburg, Susquehanna Township, Dauphin County.

Thomas Posavec, SIOR and Roy Brenner of Landmark Commercial Realty, Inc./ONCOR International negotiated the long term lease arrangement on behalf of the Building Owners, The Vartan Group.

MoneyLine Lending LLC

has leased 2,500 s/f of office space at 875 Market Street, Lemoyne, Cumberland County.

Andrew Kohr of Landmark Commercial Realty, Inc./ONCOR International represented the landlord, 875 Market St., LLC and Art Campbell of Campbell Commercial Realtors represented the tenant in the leasing transaction. n

After the Collapse . . .

continued from page 2A of resources and safety.

Instead, I believe we should push the issue of moving on with all foreclosures quickly and expeditiously. This will force the market down rapidly, but will spark a significant amount of synergy from all of the money that is sitting on the sidelines doing absolutely nothing. Many business sectors will thrive from Finance, construction, furniture, appliance, professional, underwriting, insurance, and in turn all that money that is made will get pumped back into the economy as cash, not credit.

I know what I am proposing sounds ludicrous, lets force ourselves into another downturn, however I truly believe this will get us all to the finish line as quickly as possible. It will hurt more than any other remedy in the very short term, (18-24) months, but I would rather take a tough 2 years than 10 years of absolutely nothing. I am fearful that we will suffer much of the same economic stagnation that Japan still has not totally overcome.

Lastly, I think we need to turn off the television and stop letting the commercialization of this country tell us what to do. This is a free country and we should not be told how to dress, what to drive, and what new phone we need to have.

We need to be smarter with the money we make and invest in ourselves. If we wait for public programs to offer us a solution, we are not using capitalization to our advantage. Many believe that capitalization is a negative thought process- that it enables greed, but only if we let it. This country offers more opportunity than any other to create success from absolutely nothing, and that is the true promise of capitalism.

Chris Cervelli, CCIM, CPM is a broker/associate at Michael Cervelli Real Estate in North Bergen, NJ. n

D el M ar V a DelMarVa RReal E state Journal eal Estate Journal MAREjournal.com

Mid Atlantic Real Estate Journal — DelMarVa Real Estate Journal — June 24 - July 7, 2011 — A

For Blake Real Estate’s 1111 18th St., Washington, DC Inducted into the Hall of Fame

Cassidy Turley secures $13.5 Million Financing

W

ashington, DC — Cassidy Turley arranged $13.5 million in debt financing for 1111 18th Street NW, a 74,234 squarefoot class A office building located in Washington, DC’s Central Business District.

Cassidy Turley’s Phil Mudd and Christian Miles procured the loan from a life insurance company on behalf of the owner, Jack I. Bender & Sons, a partnership affiliated with principals of Blake Real Estate, a prominent downtown Washington, DC developer/owner.

Steve Lustgarten, Executive vice president of Blake Real Estate, negotiated the loan on behalf of the partnership.

Constructed in 2000, 1111 18th Street is conveniently situated near downtown Washington’s two primary thoroughfares, Connecticut Avenue and K Street and just one block from the Farragut West and Farragut North Metrorail stations. The immediate neighborhood offers access to a wide amenity base including hotels, restaurants, and retail.

The property is currently 100 percent leased to the GSA. “As one of Washington’s legacy developers and owners in the CBD, Blake Real Estate properties have always been attractive to lenders,” commented Phil Mudd, senior managing director with Cassidy Turley.

Christian Miles, senior managing director, principal with Cassidy Turley added, “Blake has an excellent relationship with the GSA and the company makes a special effort to accommodate the unique needs of its tenants, both from the public and private sectors.”

1111 18th Street NW Cassidy Turley announced to see between 3.2 million that Federal procurement to 4.7 million s/f in office decould generate demand for up mand through 2014 related to to 4.7 million s/f of office space Federal spending with private in the Washington, DC region contractors. by 2014, if demand continues “DC region procurement to follow historical patterns. spending has increased evThe latest figures show that ery single year for the past Federal procurement spend- 20 years. In fact, DC region ing – the amount of funds the procurement has grown 11 Federal Government spends on percent annually, over twice private sector contracts – was the national rate,” commented almost $97 billion in 2009, Jeffrey Kottmeier, vice presirepresenting over 26 percent dent, director of Research with of the DC region’s real gross Cassidy Turley. “However, regional product. Over the past contractor funding could slow 25 years, the region captured in the DC region as part of an average of 11.3 percent of the ongoing debate on Federal all procurement spending in budget cuts,” he continued. the U.S. The region’s share Private sector contactors of procurement spending con- related to defense, healthcare, tinues to grow, exceeding 18 finance, commerce, and IT percent in 2009. could be affected by Federal Contractor procurement budget changes and regulatory translates into jobs. Cassidy reform. The IT services sector Turley forecasts that the DC has continued to do well and it metro area will add 158,000 is expected that employment non-farm jobs through 2014. for scientific, IT services, and Assuming a portion of non- computer systems design will farm jobs are procurement increase for both public and related, the area could expect private sector work. n

Long & Foster hires Berger and Bosma CHANTILLY, VA — The Long & Foster Companies announced two additions to its management team. Tracy Berger has been appointed to the newly-created role of senior vice president of sales for Long & Foster Settlement Services, and Katherine Bosma has been named assistant

general counsel for The Long & Foster Companies.

In her role, Berger will oversee the title and settlement services sales team for Long & Foster Settlement Services, including six wholly-owned settlement agencies that cover seven states throughout the Mid-Atlantic

region and the District of Columbia.

As assistant general counsel for The Long & Foster Companies, Bosma will provide extensive legal support for the company, including involvement with contracts, agency and dispute resolution. n

NCCBOR honors Millman & Connor of NAI Emory Hill NEW CASTLE, DE — Two Emory Hill Brokers were honored at the New Castle County Board of REALTORS’ (NCCBOR) a n n u a l awards celebration. Gene Millman, of Emory Hill Residential M i l l m a n Gene Millman West, and Edd Connor, with NAI Emory Hill, were both inducted into the Hall of Fame.

Millman was also the recipient of the Mel Stout Ethics Award.

Eugene Millman, Jr. of Emory Hill Residential Millman West, was presented with the Mel Stout Ethics Award, named for a longtime member of NCCBOR who served its membership as president and taught the Code of Ethics course for the Board for 25 years. Stout lived his life by keeping promises and doing the right thing. The award, therefore, is bestowed upon a current or past REALTOR member of the NCCBOR who best exemplifies/exemplified the ideals and goals set forth in the Preamble to the REALTOR Code of Ethics.

Gene was honored to accept this prestigious award, stat-

ing that he “strives to set an example of ethical practice for REALTORS coming into the industry, as the ones before him did”. A donation will be made in Gene’s honor to the Delaware Housi n g O p p o rEdd Connor tunity Fund, Inc. (DEHOFI), to provide assistance to administrative staff in the real estate community seeking to purchase a home so that they can fulfill the dream of home ownership.

Edd Connor joined the NCCBOR in the late 1960’s. He is a founding member of the Commercial Industrial Realty Council (CIRC), where he has served as Secretary and Vice President of the organization and continues to be actively involved.

Edd has been a part of the real estate industry for 45 years. He began working primarily in downtown Wilmington, leasing and managing office properties along Market Street and Delaware Avenue.

Since, he has vastly expanded his sales and leasing practice for clients throughout Delaware and Maryland. n

Harvey, Hanna & Associates names John Harvey VP Wilmington, DE — Harvey, Hanna & Associates, Inc. (HHA) announced that John Harvey has been named the vice president of property management and construction services for the full service commercial real estate redevelopment firm.

John Harvey has served as the HHA project coordinator since 2004, integrating all aspects of commercial property management for the company’s retail, business, and industrial holdings. Consistent with the increasing responsibilities of a growing business, Harvey’s sphere of influence at HHA extends to property management, project design, governmental approvals, construction management, leasing and

financing.

In his expanded role, Harvey’s core focus will encompass landlord/tenant relations, managing and extending a property’s life cycle, providing superior property management, and responding to commercial maintenance issues while developing all logistics related to commercial space renovation. As a key member of the HHA management team, Harvey will also continue to pursue high levels of occupancy across its portfolio and seek future acquisition opportunities.

Along with the entire HHA team, John models a strong sense of community and understands the personal rewards achieved through active participation. n

A — June 24 - July 7, 2011 — DelMarVa Real Estate Journal

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Operating and Managing over 3 Million Square Feet of Industrial and Commercial Real Estate in the Mid Atlantic Region 91 0 Basin Road Cr eekwood Corporate Center Class A Office Space Available Fr om 1 ,61 0 Sq. Ft. to 2,278 Sq. Ft.

• 66,000 Square Feet of Class A Office Space • 3,888 Square Feet of Class A Office Space Available • Strategically located at the I-95 / Rt. 141 interchange in New Castle, Delaware • 5 parking spaces per 1,000 square feet

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• Previously a corporate headquarters facility • Part of pre-planned suburban office campus

Limeston e Sh oppin g Cen ter 43,889 Squar e Feet of Retail Space

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• Minutes away from I-95/I-295, I-495 and Routes 41 and 141.

• Site offers convenient access from K irkwood Highway (Rt.2) and Limestone Rd. (Rt. 7).

• Perfect for stores, businesses and banks with optimum exposure from Rt 7.

• 198 parking spaces • 2,009 SF available on the second floor.

Available Belle Hill Cecil Coun ty, Mar ylan d

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• Phase I of a III Phase Development • 50,266 SF Available – New Construction • Includes 11,747 SF of finished office and mezzanine space area • 4 Acres of Paved Truck Display & Storage Area • 120 Truck and Trailer Parking Spaces • 15 Ton Bridge Crane • T5 Fluorescent Lights • Geothermal HVAC

For more information: Phone (302) 323-9300 Fax (302) 323-4951 29 East Commons Boulevard, Suite 100, New Castle, Delaware 19720 www.harveyhanna.com

RGI 05-05-08

Mid Atlantic REAL ESTATE JOURNAL MID YEAR REVIEW MAREjournal.com

Mid Atlantic Real Estate Journal — Mid Year Review — June 24 - July 7, 2011 — 9A

PAIGE BARROW FAMECO REAL ESTATE LP

JOSE CRUZ HFF

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IRA MEISLIK MEISLIK & MEISLIK

INSIDE: 1031 EXCHANGE Exchange Solutions ...................................................................................................................................................... 10A ECONOMIC DEVELOPMENT Michael Beckenbach, PEDC ...................................................................................................................................... 11A INDUSTRIAL Brasler Properties ......................................................................................................................................................... 13A INVESTMENT BROKER Jose Cruz, HFF .............................................................................................................................................................. 14A LANCASTER INDUSTRIAL MARKET Michael J. Lorelli, High Associates Ltd. ...................................................................................................................... 15A PHILADELPHIA RETAIL MARKET Paige Barrow, Fameco Real Estate LP .......................................................................................................................... 16A RETAIL LAW IRA MEISLIK, MEISLIK & MEISLIK ........................................................................................................................ 12A

10A — June 24 - July 7, 2011 — Mid Year Review — Mid

Atlantic Real Estate Journal

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Mid Atlantic Real Estate Journal â&#x20AC;&#x201D; Mid Year Review â&#x20AC;&#x201D; June 24 - July 7, 2011 â&#x20AC;&#x201D; 11A

ECONOMIC DEVELOPMENT

By Michael Beckenbach, PEDC

Rail Service, tax incentives fuel latest business migration to the Pocono Mountains anufacturers and distributors enthusiastically maintain locations in the Pocono Mountains because the area combines proximity to market with affordable tax structures and the quality of life only a four-season resort area can provide.

But the region also features a hidden asset which some businesses are using to give themselves an additional advantage.

Rail service. The Pennsylvania Northeast Regional Railroad Authority (PNRRA) is acquiring the final six miles on the Pocono Mainline, completing its connection to the Norfolk Southern interchange.

The rail connection is something thatâ&#x20AC;&#x2122;s already made a huge difference to existing local businesses like Monadnock Non-Wovens, LLC. â&#x20AC;&#x153;(The rail line) helped us increase production by 50 percent,â&#x20AC;? says Monadnock Managing Director Keith Hayward, noting that the company was also able to cut costs by receiving one rail car every 10 days, each replacing 10 bulk truck loads per month.

With the improved rail service in mind, the Pocono Mountains Economic Development Corporation (PMEDC) and its sister corporation the Monroe County Industrial Development Authority (MCIDA) have worked hard to bolster their inventory of rail served buildings and properties. â&#x20AC;&#x153;Unfortunately the economic downturn in 2008-2009 hurt some large companies like Liz Claiborne, who had facilities here in the region,â&#x20AC;? says PMEDC Executive Director Chuck Leonard. â&#x20AC;&#x153;But that turnover created an opportunity for others by freeing up a number of rail-accessible buildings and lots. As a result, weâ&#x20AC;&#x2122;re seeing a lot of interest from companies who like the potential rail option.â&#x20AC;?

Leonard goes on to note that in a few cases, the rail accessible sites feature an equally (or perhaps more) attractive feature. They fall within approved Pennsylvania Keystone Opportunity Zones (KOZs).

Pennsylvaniaâ&#x20AC;&#x2122;s KOZ program allows for the exemption of certain state and local taxes, including real estate, earned income, corporate net income, and sales and use taxes, among others. â&#x20AC;&#x153;The KOZ is a powerful tool for businesses, especially those

M

With more than 600,000 s.f. of available space, the former home of Liz Claiborne in Mt. Pocono is just one example of the Pocono Mountains rail accessible inventory.

that are looking for ways to combine growth and cost-cutting,â&#x20AC;? says Leonard. â&#x20AC;&#x153;Weâ&#x20AC;&#x2122;ve been seeing interest from companies that want to get to northeast U.S. markets, but that find the tax structures in places like New Jersey a bit overbearing.â&#x20AC;? â&#x20AC;&#x153;We offer nearly the same proximity to market, but companies can do it here with much lower operational costs. When you factor in key existing businesses like Sanofi Pasteur, Weiler Corporation, MegaPhase or Vigon Corporation, we also see a lot of interest from smaller

companies that may be able to provide our resident industries with important infrastructure or technical support.â&#x20AC;?

PMEDC has made it easy for interested developers to research its offering by optimizing its property search engine (and its entire Web site) for smart phone users.

The site automatically renders the best viewing experience by recognizing the smart phone operating system. â&#x20AC;&#x153;We understand we are working in a hand-held world,â&#x20AC;? says PMEDC marketing director continued on page 15A

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12A — June 24 - July 7, 2011 — Mid Year Review — Mid

Atlantic Real Estate Journal

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RETAIL LAW

By Ira Meislik, Meislik & Meislik

Exclusive use rights Balancing legitimate concerns

I

t is the rare retail project that is unencumbered by exclusive use rights granted by a landlord to one or more tenants. While that may not have been as true in the distant past, this is now Ira Meislik the “rule of the game.” What is more, this concept has begun to spill over into the office leasing environment.

Large space tenants have the bargaining power to demand protection against competition within the project. Conceptually, such protection is not unreasonable. Think about it. A large (often specialty) retailer draws customers to its store by dint of its reputation and expensive advertising. Uncurbed, competing businesses would locate “next door” and draw business away just as a parasite would feed on a host.

In the office context, there are tenants who don’t want employees and invitees of com-

peting businesses to be present in the lobbies, elevators, and lunchrooms.

That having been said, every exclusive use right granted to a tenant impairs the landlord’s ability to lease other space.

For example, what a consumer may think is an “office supply” store, is actually a business that derives significant revenue from the sale of computers and computer related merchandise and from the sales of copying services.

Every national “office supply” retailer asks for the exclusive

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Whether you’re acquiring, financing, leasing or managing, call us to Get the Deal Done.

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right to sell computers, software, computer accessories, and copying services. Acceding to such a request, without modification, would bar leasing to consumer electronic companies, appliances dealers (who almost always sell computer equipment), and to parcel centers who commonly have copy machines. A toy store might not be able to sell “children’s” computer games. A card shop might not be permitted to have a single, convenience copier.

Aside from crafting the scope of a lease’s grant of “exclusive

use rights,” a landlord and tenant must agree on who will bear the burden of enforcing those rights and what remedies the tenant may have if either another tenant “steps on its feet” or the landlord fails to include the applicable restriction in future leases.

The range of possible solutions is nearly endless. At one extreme, a landlord might be required to pursue the infringing tenant with all of its force and with all of its might and with all its money. At the other end, the landlord might merely delegate that task to the “protected” tenant, as the ultimate beneficiary, giving the “protected” tenant, as a sole remedy, the power to pursue the wrongdoer in the landlord’s name.

As to a tenant’s remedies, possible solutions can include exposing the landlord to a damage claim (possibly including consequential damages), giving the “protected” tenant the right to terminate the lease (with or without the right to pursue damages), abatement of rent, or changing from a fixed rent to a rent based on a percentage of sales.

One other major negotiating and drafting component of the “exclusive use right” grant is making sure that existing tenants may continue their businesses without interference. This means that existing tenants with broad permitted use rights (i.e., those that may use their premises for any permitted use) may, in fact, compete with the new tenant.

Further, the right reserved for existing tenants to be “carved out” of the newer tenant’s “exclusive use rights” should continue through lease renewals. Almost always, the “carve out” will continue regardless of a subsequent assignment or sublease. Another issue to be considered is whether lease extensions for existing tenants beyond pre-existing renewal periods should be protected against the “exclusive use rights” or whether lease modifications that expand the size of the existing tenant’s space or that relocate the existing tenant would be similarly protected.

Ira Meislik is a principal at Meislik & Meislik, a law firm in Montclair, NJ known for its focus on Retail Real Estate law. ■

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Mid Atlantic Real Estate Journal — Mid Year Review — June 24 - July 7, 2011 — 13A

MAREJ MID YEAR REVIEW

14A — June 24 - July 7, 2011 — Mid Year Review — Mid

Atlantic Real Estate Journal

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INVESTMENT BROKER

By Jose Cruz, HFF

2011 New Jersey Multifamily Market

T

he New Jersey multifamily market has been very strong in 2011. From a leasing perspective, we have seen rent growth between 4 percent and 9 percent depending on the age Jose Cruz and location of the asset. Concessions continue to dwindle, with most class A properties offering none and select class B assets

offering only one month free.

In addition, in some northern and central affluent towns,

to be a significant amount of capital chasing opportunities. However, there contin-

We expect the market to maintain its current trajectory assuming the economy does not dip back into a period of stagnation.

property managers are reporting between 97 percent and 100 percent occupancy fueled by increased tenant traffic.

The investment outlook in the Garden State remains very active as there continues

ues to be a lack of multifamily investment opportunities available when compared the amount of capital available for investment from the pension funds, REITs, and private buyers. We have even seen groups that have

traditionally been office and retail buyers begin to explore multifamily as an alternative investment option given stability of the assets combined with the diversification of the rent roll and lack of exposure to corporate credits. Despite the aggressive pricing that is available today, there seems to still be supportable underwriting with investors pushing yields lower to attain acceptable seller pricing levels rather than unrealistic assumptions.

Cap rates have been pushed down into the five percent

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range for Class A opportunities and certain select assets are trading in the sub five percent cap rate range.

This has not been the norm historically in the state and is made possible by the very attractive debt environment.

We have seen aggressive life company lenders provide 70-75 percent LTV financing at 140 bps over the 10-year (currently 3 percent at the time of this article) which is equivalent to a 4.40 percent interest rate with 10 years interest only. The agencies continue to lever to 80 percent and a 1.25 debt service coverage ratio.

One note of caution is maintaining seller expectations. It does feel like a unique time to take advantage of a time period in which – interest rates are low, capital is plentiful, product is scarce, and rent increases are beginning to take hold. Every asset is unique and although the market is paying up for multifamily these days, a 4.5 percent cap on a class A urban location does not translate into the same cap rate on a Class B suburban deal.

Renovations are also underway in multiple Class B properties. This was not seen much over the last few years and with returns on that capital topping 20 percent, several owners are funneling dollars to new kitchens and bathrooms to help push rents.

The market is starting to see development opportunities become more valuable as institutional yield requirements are higher than current cap rates. On the development side, investors have been solving for a 6.25 percent to 6.75 percent yieldto-cost on the waterfront and just over a 7 percent yield-tocost further inland in New Jersey. We expect to see more demand for development as the year progresses with new projects scheduled to begin in Jersey City, Morristown, and Weehawken.

We expect the market to maintain its current trajectory assuming the economy does not dip back into a period of stagnation. Given the activity levels we are seeing, the time is right for multifamily in New Jersey.

Jose Cruz is senior managing director at HFF. ■

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Mid Atlantic Real Estate Journal â&#x20AC;&#x201D; Mid Year Review â&#x20AC;&#x201D; June 24 - July 7, 2011 â&#x20AC;&#x201D; 15A

LANCASTER INDUSTRIAL MARKET

By Michael J. Lorelli, High Associates Ltd.

Lancaster industrial market shows signs of recovery

T

he industrial real estate segment in Lancaster County, Pennsylvania, has shown signs of improvement. These signs began in 2010 and have carried through the first quarter Michael J. Lorelli of 2011.

The forlease market is estimated to be roughly 13 million square feet. In the past eleven years, the Lancaster market experienced positive net absorption of space every year with the exception of 2005, 2008, and 2009. In 2008, the effects of an economy in contraction started to become more evident with negative absorption of 44,000 square feet.

In 2009, this negative trend continued as the market had a substantial increase in formerly owner-occupied buildings coming on the market for sale or lease at extremely aggressive price points. This affected the developer- and investor-owned/managed segment on both occupancy and rate. The yearâ&#x20AC;&#x2122;s vacancy rate climbed three points to a rate of 10.9 percent, a historic high of the region. This increase

Rail Service, tax incentives fuel . . . continued from page 11A Michelle Bisbing. â&#x20AC;&#x153;That moment of inspiration where a developer or corporate executive decides to investigate an opportunity may not happen when theyâ&#x20AC;&#x2122;re in their office.

Whether someone is using an iPhone, an Android, or Blackberry, we want to make sure we offer them convenience wherever they are.â&#x20AC;?

Leonard concludes by noting that the Pocono Mountains can always lay claim to the age-old real estate quality of â&#x20AC;&#x153;locationâ&#x20AC;? but that the region continues to develop incentive and infrastructure programs to enhance its properties. â&#x20AC;&#x153;We have a growing population, a high quality of life, a fantastic property inventory, solid infrastructure and incentives, and weâ&#x20AC;&#x2122;re as close to New Jersey and New York City as you can get within Pennsylvania. We think weâ&#x20AC;&#x2122;re a natural choice for growing businesses. â&#x2013;

in vacancy translates to a negative absorption of 205,000 square feet. The abundant supply of space and lack of users in the market caused concessions to be introduced in the market for the first time. Also contributing to the negative performance was the construction of two new buildings totaling 275,000 square feet. Additionally, asking rates decreased by eight to 15 percent, depending on building quality and location.

Slow market demand continued into the first quarter of 2010. The second and third

quarters had approximately a 25 percent increase in activity. The forth quarter, which historically is slow, was extremely strong. In total, 2010 yielded 88,300 square feet of positive net absorption. The twelve-month performance reduced the vacancy level of 10.9 percent down to a current level of 9.7 percent. The yearâ&#x20AC;&#x2122;s performance was also stronger than the ten-year average, which stands at 78,456 square feet. No new construction occurred in the market, aiding the absorption performance. On the subject

of rents, triple-net rates bottomed during early 2010 and concessions, while still a part of the pricing structure, did decrease slightly.

The outlook for 2011 continues to track towards a positive year-end performance. Currently there is solid activity in the marketplace, especially among users ranging is size from 15,000 to 40,000 square feet. One characteristic of postrecession transactions is a longer due diligence and planning process on the part of the tenant prospect when looking at leased facilities. Additionally,

landlords are looking closer at the financial health of these prospects, particularly when improvements are part of the leasing package. On lease rates, there is anticipated to be little or no upward movement in rate. However, the expectation regarding concessions is that they will be reduced. Most industry professionals expect that vacancy rates will fall below 9 percent by year end.

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16A — June 24 - July 7, 2011 — Mid Year Review — Mid

Atlantic Real Estate Journal

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PHILADELPHIA RETAIL MARKET

By Paige Barrow, Fameco Real Estate LP

Center City Philidelphia retail market on the rise

T

he Center City Philadelphia retail market is well on its way to recovery. Center C i t y, m u c h like the greater Philadelphia region in general, has weathered the tough economic times of the past Paige Barrow few years remarkably well. Historically, this city has not experienced the significant economic swings like many other major cities across the United States and

the Center City leasing scene has stayed the course. Retail vacancy rates have remained stable and rents have been relatively unaffected.

Vacancy rate changes reveal a less than 1% increase from August of 2008 to August of 2010. The market was further bolstered by rental rates that are basically unchanged.

Walnut Street between Broad Street and 18th Street, the market’s most revered address, still commands rents upwards of $110 psf. That number has held steady. National retailers like Apple and Paper Source found new homes on Walnut

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Street in 2010. The pace of leasing activity in 2011 is on the rise, too. New retailers to Philadelphia include Jack Wills, Doc Martins and Barbour. At Fameco, we’ve noticed a marked increase in the number of retailers looking at Center City as a market of opportunity as they roll out their new store programs. There has also been renewed interest from retailers from New York to Washington DC looking to make a foray into Center City.

Independent restaurants as well as the regional and national chains have long found Philadelphia to be a great

restaurant city. The trend has continued with recent opening across the city including Stephen Starr concepts Dandelion and Taula’s Garden, as well independents like Kevin Sbraga. Additionally, a number of traditional big box retailers are finding Philadelphia to be a viable option. Their traditional prototype has been pared down to accommodate a smaller footprint more desirable in an urban environment.

In addition to Walnut Street, the submarkets of University City and the 13th Street corridor (from Chestnut Street to Locust Street) are hot as is the

upcoming Art Museum district.

University City has traditionally been a vibrant market, but the recent proposed construction activity by Drexel University has served to invigorate the market further. The 13th Street Corridor has seen a recent influx of new restaurants including Barbuzzo, Sampan and Zavino. The Art Museum area is poised to explode and is ripe for development. Whole Foods has already staked its claim there and the Barnes Museum is relocating from the suburbs to this locale. Seeing the potential in this market, the area will benefit from some significant residential construction in the next year. Once this occurs, Fameco expects retailers to beginning clamoring for space in the Art Museum district.

A sure sign of the ongoing vitality of this market is new construction. Fameco Partner Brandon Famous, Jackie Balin and Mike Gray have been retained by Core Group to lease Penn Treaty Village, a ground up 250,000 s/f retail and mixed use development adjacent to the Sugar House Casino on Delaware Avenue. The Avenue of the Arts area is home to 777 South Broad, a new Dranoff Properties residential development, which will have 20,000 s/f of retail space. According to Balin, the exclusive leasing agent “a host of regional players are actively looking at this site and several “to be named” retailers have already committed.” In addition, plans are underway to rejuvenate the area East of Market Street rendering the area more attractive to retailers and the pedestrian population. Plans have been submitted for both The Gallery and Girard Square with the goal of attracting more tourists and retailers to the Independence Mall area.

Looking ahead, Fameco is already seeing signs of recovery — from retailers who have reopened discussions about expansion plans, to an increasingly active big box environment, to restaurants clamoring for space, to new concepts ready to roll out, to landlords discussing ground-up development opportunities. We expect a continued recovery in the second half of 2011 and 2012.

Paige Barrow is a member of Fameco Real Estate LP’s Center City Philidelphia office. ■

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Mid Atlantic Real Estate Journal — Mid Year Review — June 24 - July 7, 2011 — 17A

2011 Annual Spotlight - Features

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MARYLAND SPOTLIGHT MAREjournal.com

Mid Atlantic Real Estate Journal — June 24 - July 7, 2011 — 18A

For White Marlin Mall in Ocean City

NorthMarq Capital arranges $19m mortgage CEAN CITY, MD — Bill Libercci, vice president of NorthMarq Capital’s (NorthMarq) Baltimore Regional office, arranged first mortgage financing of $19 million for the White Marlin Mall, a 197,000 square foot retail property located at 12641 Ocean Gateway in Ocean City.

Major tenants at the center are Marshall’s, Staples, Bed, Bath and Beyond, Michael’s and Petco. It is considered the strongest shopping center in the Ocean City area. Financing for the borrowers, JV of Greenberg Gibbons and Prudential Real Estate Investors, was arranged by NorthMarq through its relationship with

O

Ocean Gateway in Ocean City, Goldman Sachs Commercial Gibbons and equity partner Mortgage Capital – CMBS. Prudential gave Goldman Libercci said, “The very expe- Sachs comfort to structure a rienced, high-quality borrower loan facility which worked betJV of retail expert Greenberg ter than the alternatives.” ■

McShea adds 234,433 s/f to lease/mgmt. portfolio MONTGOMERY COUNTY, MD — One of the top commercial brokerage and management firms in the Washington, DC Region, McShea & Company, Inc. is pleased to announce it has been named the Exclusive Leasing and Management Agent by Whitehall Business Archives for 5202 Presidents Court in Frederick, MD. The Class A, 234,433 sf office building is perhaps the highest quality asset in the Frederick market with stateof-the-arts systems and a modern flexible design, including

large floorplates with raised flooring throughout and floor to ceiling heights of nine feet.

The property is located in the Westview Corporate Campus, Frederick’s premier corporate location, boasting significant corporate neighbors, such as Frederick Memorial Hospital and the US Department of Veterans Affairs. SAIC and Bechtel Power Corporation are notable tenants at 5202 Presidents Court. Jack McShea, Bob Dickman, Bob Wrightson and Andy Shulman of McShea are responsible for the leasing and

Scott McLellan is handling the management responsibilities.

McShea & Company has been named the property management agent for 100 West Rd. in Baltimore by the Realty Advisor Fund IX, LP.The LEED Gold Certified, class A, newly renovated, premier office building has 121,491 s/f of space. Notable tenants include Robert W. Baird & Company, JP Morgan Chase & Co., and KLNB, INC. Gayle Thrift of McShea will be responsible for the management of this property. ■

BPG Properties hires two regional property managers VA AND MD — BPG Properties, Ltd. (BPG), one of the nation’s leading private equity real estate fund managers, announced today that Anna Montemarano has been named as regional portfolio manager and Mercedes Lohmann as property manager in the Washington DC Regional office of BPG Management Company, L.P., BPG’s property management operating affiliate. Both Anna and Mercedes will be in charge of day-to-day property management of BPG’s portfolio in Virginia and Maryland, which includes more than 1.5 million square feet of of-

fice and industrial properties.

BPG Management Company currently manages more than 10 million square feet of commercial space along the East Coast.

“Anna and Mercedes bring over 20 years of combined property management and marketing experience to BPG Management Company,” said Douglas G. Hoffman, president of BPG Management Company, L.P. “I am thrilled to welcome both Mercedes and Anna to the firm, where their extensive industry experience will help provide the highest quality of service to our tenants.”

With an extensive background in facilities management, Anna is a seasoned professional with more than 15 years industry experience.

Prior to joining BPG, Anna was a senior property manager for First Potomac Realty Trust in Bethesda, M.D. Mercedes also hails from a property management background, and brings over eight years of experience to the role as property manager. Prior to joining BPG, Mercedes worked as a corporate facilities manager for American Institutes for Research (AIR) located in Washington, D.C. ■

Assignments increase size by 3,200 units

Bozzuto Mgmt. grows Portfolio by 11 sites GREENBELT, MD — Bozzuto Management Company, a subsidiary of The Bozzuto Group of companies, announced the addition of 11 additional properties to its portfolio. The assets, totaling 3,200 units, are a combination of new openings and property takeovers, and collectively increase the company’s portfolio to 33,000 units.

Bozzuto Mgmt. now serves 55 clients in 115 properties across eight East Coast states from Richmond, Virginia to Boston, Massachusetts.

“Our company’s steady, organic growth is a result of our commitment to building strong relationships and to providing a consistently high level of customer service, both for clients and residents alike,” said Julie Smith, president, Bozzuto Management Company.

Among other honors, the company is most proud of the fact that it was recently named one of the “Best Places to Work” in Greater Washington by the Washington Business Journal.

This is the third year in a row, and the fourth time, Bozzuto has received the distinction.

In addition, The Fitzgerald, a Baltimore property developed by Bozzuto Development, built by Bozzuto Construction, and now managed by Bozzuto Management, was just presented the prestigious “Award for Excellence” by the Urban Land Institute, an honor bestowed on just 10 U.S. projects each year. The Fitzgerald was also recently named the largest LEED-certified residential

community in the Baltimore area and is home to the city’s first public electric-vehicle charging stations.

New management assignments awarded in the past 90 days to Bozzuto Management include: New Openings: • The Residences on the Avenue: A 335-unit high-rise community located on Washington Circle in Washington, D.C. • Enclave at Emerson: A 164unit mid-rise community located in Laurel, Maryland.

• Alta at Regency Crest: A 150unit garden-style active senior community located in Ellicott City, Maryland.

Property Takeovers: • 2401 Pennsylvania Avenue: A 40-unit high-rise community located in Washington, D.C. • Brookside: A 432-unit garden community located in Frederick, Maryland.

• Overlook Manor: A 290-unit garden community located in Frederick, Maryland.

• 1500 Locust: A 610-unit highrise community located in downtown Philadelphia.

• Summer Chase Apartments: A 198-unit garden community located in Limerick, Pennsylvania.

• Alexan Carlyle: A 280-unit high-rise community in Alexandria, Virginia.

• The Monterey: A 432-unit high-rise community located in Rockville, Maryland.

• The Sagamore: A 265-unit high-rise community located in the Upper West Side neighborhood of Manhattan. ■

Blue & Obrecht handles 41,580 s/f lease WOODLAWN, MD — Lockheed Martin Corporation, an advanced technology company, renewed their lease of 41,580 s/f of office space in the Michael Building at 1506 Woodlawn Dr. Richard F. Blue, Jr., SIOR,

Paul F. Obrecht, III, SIOR, and Krager D. Sanders of Blue & Obrecht Realty, LLC represented the landlord, Colony Realty Partners, LLC, and Stuart Rienhoff of Jones Lang LaSalle represented the tenant. ■

Colliers International names VP of engineering and project management BALTIMORE, MD — Colliers International named M. Lindsay Thompson vice president of engineering and project management. As vice

president, Thompson oversees, coordinates and manages capital project development as well as manages the engineering department. ■

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Mid Atlantic Real Estate Journal — June 24 - July 7, 2011 — 19A

MARYLAND 757-unit 1,580-bed multifamily property located

NorthMarq Capital arranges $41.174 million mortgage for Terrace View Apartments ETHESDA, MD — Frank Relihan, senior vice president, Gary McGlynn, senior vice president and managing director, and Kenneth Gentzel, senior vice president and managing director of NorthMarq’s Washington, DC Regional office arranged first mortgage acquisition financing of $41.174 million for the Terrace View Apartments, a 757-unit 1,580-bed multifamily property located at 301 Hunt Club Road in Blacksburg, VA. Financing was based on a 10-year term with 2 years interest-only followed by a 30-year amortization schedule and was arranged for the bor-

B

Colliers Int’l. names Thompson VP of engineering and project mgmt.

BALTIMORE, MD — Colliers International in the Baltimore region, a full-service commercial real estate firm, named M. Lindsay Thompson vice president of engineering and project manM. Lindsay agement. As Thompson vice president, Thompson oversees, coordinates and manages capital project development as well as manages the engineering department.

Thompson has more than 20 years of experience in institutional real estate development and project management. Her experience includes construction projects, including two Forbush School buildings, road improvements and a hospital renovation for Sheppard Pratt Health System as well as projects for Towson University and Gilchrist Hospice among others.

Prior to joining Colliers International, Thompson was senior project manager for Daft McCune Walker where her responsibilities included institutional client relationships, project management, Leadership in Energy and Environmental Design standards and business development.

Thompson is a member of the Maryland chapter of the United States Green Building Council. ■

Terrace View Apartments

rower by NorthMarq through its affiliate AmeriSphere Multifamily Finance LLC, a Fannie Mae DUS Lender. Mr. Relihan stated, “This was our first financing with the borrowing team on one of the premier student housing properties at Virginia Tech.

Fannie and Amerisphere liked the quality of the sponsor and position of the asset in Blacksburg.” NorthMarq, headquartered in Minneapolis, offers commercial real estate services for investors, developers, corporations and tenants. ■

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32 offices coast-to-coast

20A — June 24 - July 7, 2011 — DelMarVa Real Estate Journal

MAREjournal.com

Operating and Managing over 3 Million Square Feet of Industrial and Commercial Real Estate in the Mid Atlantic Region

Twin Spans Business Park, City of New Castle, DE

Delaware River Industrial Park

• +/– 135 Acre Business Park in the City of New Castle • Minutes away from I-95/I-295, and Routes 9 & 13.

• Site offers convenient access to the Delaware Memorial Bridge, Port of Wilmington and the entire northeast corridor.

• Perfect for Office, Laboratory or Manufacturing / Distribution • Recently completed new access boulevard with signal controlled intersection on Route 9.

• Park tenants include:Winterthur Catalog Operations, Hibbert Group,Tire Rack, Speakman Co., Mattress Giant, Schindler Elevator, Philadelphia Gear,Agilent Technologies

• 45 Acres of industrial zoned land (HI) located ideally near the Port of Wilmington, the Delaware Memorial Bridge, I-95 and I-295; with great access to entire northeast corridor.

• High quality constructed buildings with space as small as +/– 14,500 sq. ft.

• 24'–31' clear ceiling height • HI (Heavy Industrial) zoning allows for a wide array of uses • Park tenants include: Iron Mountain, National Roll Kote, DHL, Carlyle Cocoa, Harbour Textile,Waste Management, SKW Hardcore, Freeze, RecyClean

• +/- 400,000 Sq. Ft. business park in the town of Newport.

• 1/2 mile from I-95/Rt. 141 interchange with immediate access to I-295, I-495 north and south.

• Site offers convenient access to the Delaware Memorial Bridge, Port of Wilmington and the entire northeast corridor.

• Park tenants include: AIG, Sieck Wholesale Florist, First State Paper, Qwest Communications, C-Cert, Apex Piping and Conectiv.

Newport Industrial Park For more information: Phone (302) 323-9300 Fax (302) 323-4951 29 East Commons Boulevard, Suite 100, New Castle, Delaware 19720

MAREjournal.com

Mid Atlantic Real Estate Journal — June 24 - July 7, 2011 — 21A

MAREJ MONTHLY SALES AND LEASE REPORT As Reported In The Mid-Atlantic REAL ESTATE JOURNAL ~ MAY 13 - JUNE 9, 2011 PROPERTY NAME

SELLER/ OWNER/ LESSOR

ADDRESS

REP. OF SELLER/ LESSOR

BUYER/ TENANT/ LESSEE

REP. OF TENANT/ BUYER

PRICE

SIZE

DESC.

S/L

PG

4 Center Dr.

Baltimore, MD

Northeast Commerce Ctr C&W

GSA

GSA

—

76,800 s/f

Ind

L

3A

4 Center Dr.

Baltimore, MD

Northeast Commerce Ctr C&W

Herr’s

C&W

—

56,600 s/f

Ind

L

3A

101 Hudson St

Jersey City, NJ

Mack-Cali

Mack-Cali

Optimer Pharm

C&W

—

14,000 s/f

Off

L

3A

The Westory

Washington, DC

Deka Immobilien

Cassidy Turley

Rothwell, Fig

—

—

42,181 s/f

Off

L

4A

Monroe & Cranbury

NJ

Black Rock

C&W

Morgan Stanley

C&W

—

16 Bldgs

Ind

S

FC-B

171-181 Erie St.

Jersey City, NJ

—

Gebroe-Hammer

—

Gebroe-Hammer

$7m

45 unit

MultiFamily S

2B

712 Adams St.

Hoboken, NJ

—

Gebroe-Hammer

—

Gebroe-Hammer

$3m

21 unit

MultiFamily S

2B

Bayonne, NJ

—

Gebroe-Hammer

—

—

$2.55m

80 unit

MultiFamily S

2B

95 Christopher Columbus Dr. Jersey City, NJ

—

—

QTS

Newmark Knight Frank

—

270 Rte. 17 South

Mahwah, NJ

MJ Mahwah Props.

Newmark Assoc.

Mahwah Realty

NAI Hanson

$3.765m

300 Lighting Way

Seaucus, NJ

Hartz Mountain

Hartz Mountain

Yuesen Logistics

C&W

University Sq.

Princeton, NJ

—

—

Chilworth Tech.

Colliers Int’l.

1645 Irving St.

Rahway, NJ

—

CBRE

—

49 Distribution Blvd.

Edison, NJ

Heller Ind. Pks.

—

—

Off

L

4B

50,000 s/f

Retail/Whse S

4B

—

32,000 s/f

Off

L

5B

—

14,746 s/f

Off

L

6B

—

—

4,914 s/f

Mixed Use/ S MultiFamily

7B

Joshen Paper

Joshen Paper

—

Ind

8B

L

3971 Independence Dr.

Lehigh Valley, PA

Buyrite Equip.

Hawley Realty

Mytableweare

—

$1.05m

17,800 s/f

S

FC-C

2147 Ave. C.

Bethlehem, PA

—

Hawley Realty

Eupen Cable

—

$675k

32,000 s/f

L

FC-C

7529 Keebler Way

Allentown, PA

—

Hawley Realty

Sharp Corp.

—

$1.25m

22,315 s/f

S

FC-C

925 Conroy Pl.

Easton, PA

—

Hawley Realty

JERC Ptrs.

—

$1.21m

23,080 s/f

S

FC-C

The Meadows

Wayne, PA

—

Lieberman Early

—

—

$1.3m combined

Off

L

FC-C

The Meadows

Wayne, PA

—

Lieberman Early

Renaissance Medical

—

6497 s/f

Off

L

FC-C

The Meadows

Wayne, PA

—

Lieberman Early

Weidenhammer Sys.

—

The Meadows

Wayne, PA

—

Lieberman Early

Vicki Hook

—

The Meadows

Wayne, PA

—

Lieberman Early

Hilda Daniel

—

4418 s/f

Off

L

FC-C

The Meadows

Wayne, PA

—

Lieberman Early

Integrity Food Marketing

—

4495 s/f

Off

L

FC-C

The Meadows

Wayne, PA

—

Lieberman Early

Majestic Wine & Spirits

—

3515 s/f

Off

L

FC-C

The Meadows

Wayne, PA

—

Lieberman Early

gloPlug

—

1640 s/f

Off

L

FC-C

Renaissance Pk.

Malvern, PA

Liberty Prop. Trust

—

Merion Pub.

—

—

76,000 s/f

Off

L

3C

Renaissance Pk.

Malvern, PA

Liberty Prop. Trust

—

GlaxcoSmith-Kline

—

—

197,000 s/f

Off

L

3C

Chesterbrook Corp. Ctr.

Malvern, PA

Liberty Prop. Trust

—

Dynamic Solar

—

—

6745 s/f

Off

L

3C

650 E. Swedesford Rd

Wayne, PA

Liberty Prop. Trust

—

Arris

—

—

4770 s/f

Off

L

3C

180 Sheree Blvd.

Exton, PA

Liberty Prop. Trust

—

Avanceon

—

—

16,000 s/f

Off

L

3C

One Penn Ctr.

Philadelphia, PA

One Penn Assoc.

Studley, JLL

McElroy, Deutsch

Studley, JLL

—

21,000 s/f

Off

L

6C

3 Kacecy Ct.

Upper Allen Twp, PA Jeanne Farinelli

NAI CIR

Heritage Inv.

CBC Homestead

—

8898 s/f

Off

S

6C

99 W. Church St.

Dillsburg, PA

Bill Gladstone Grp.

Rands Grp.

Bill Gladstone Grp.

—

4675 s/f

Comm’l.

S

6C

12 Firehouse Rd.

E. Hanvoer Twp., PA Bonawitz RE

Bill Gladstone Grp.

WPCS

WPCS

—

2500 s/f

Whse

L

6C

1517,1521 Cedar Cliff

Lwr Allen Twp, PA

Bill Gladstone Grp.

Trumball Corp

Landmark

—

2221 s/f

Off

L

6C

Susquehanna Oil

St. Paul Grp.

5002 Lenker St.

Hampden Twp., PA

Twr Props.

Bill Gladstone Grp.

Somali Assn.

Somali Assn.

—

637 s/f

Off

L

6C

1866 Colonial Village Ln.

Lancaster, PA

High Props.

High Assoc.

Pelerton Corp.

NAI Comm’l. Ptrs.

—

20,000 s/f

Off/Ind

L

17C

180 Greenfield Rd.

Lancaster, PA

MBJA

NAI Comm’l. Ptrs.

JR Transportation

NAI Comm’l. Ptrs.

—

3128 s/f

Ind

L

17C

Twin Twrs.

Pittsburgh, PA

Massaro Props.

Massaro Props.

RETTEW

—

—

5710 s/f

Off

L

17C

355 N. 21 St.

Camp Hill, PA

355 N. 21 St. Asssoc

Landmark

Pion Johnston

CBRE

—

2084 s/f

Off

L

17C

4815 Jomestown

Harrisburg, PA

OLS Ptrs.

Landmark

AllStat Medical

—

—

908 s/f

Off

L

17C

1017 Mumma Rd.

Wormleysburg, MA

L&D Props

Landmark

Pengate Handling Sys.

—

—

667 s/f

Off

L

17C

Windsor Park SC

Lwr Allen Twp, PA

—

High Assoc.

Great Clips

High Assoc.

—

1200 s/f

Retail

L

3A

Capital City Plaza

Lwr Allen Twp, PA

—

High Assoc.

LA Weightloss

Fameco

—

2250 s/f

Retail

L

3A

4609 Gettysburg Rd.

Lwr Allen Twp, PA

Sandra King

High Assoc.

First Infinity Const.

High Assoc.

—

Off

L

3A

Walgreens/PNC Bank

Fairfax, VA

—

Calkain

—

Calkain

$13.8m

Retail

S

7A

1651 Old Meadow RD.

McClean, VA

1651 Old Meadow Rd.

Transwestern

Sage Comm.

Newmark Knight Frank

—

Off

L

7A

918 F St. NW.

Washington, DC

Douglas Dev.

—

Living Social

—

—

Off

L

10A

Paramus, NJ

—

Marcus & Millichap

—

—

$7.95m

25,000 s/f

Retail

S

FC-B

Rite Aid

Narraganset, RI

—

Rte 61 Mill Rd.

Montgomery Cty., PA Develcom

134 Baltimore Pike

Springfield, PA

Arean Hub Plaza 16th and Chestnut St.

—

11,685 s/f

Marcus & Millichap

—

Marcus & Millichap

$2.4m

10,822 s/f

Retail

S

3B

Equity Retail

—

Kahn & Co.

—

1.5 acre

Retail

L

4B

—

Equity Retail

American Furniture Design

—

—

24,000 s/f

Retail

L

4B

Wilkes-Barre, PA

TFB Ltd.

—

Banana Republic

Metro Comm’l.

—

7380 s/f

Retail

L

13B

Center City, PA

Brahin Props.

—

The Children’s Place

Metro Comm’l.

—

4650 s/f

Retail

L

13B

1535 Chestnut St.

Center City, PA

—

—

Krispy Kreme

Metro Comm’l.

—

Retail

L

13B

1617 Walnut

Wilkes-Barre, PA

Rosenberg Family

Metro Comm’l.

Jack Wills

Madision Retail, Michale Salove Co.

—

6800 s/f

Retail

L

13B

Regency Pointe

Forestville, MD

—

—

TDG, AG

—

$20m

599 unit

MultiFamily S

10C

8295 National Hwy.

Pennsauken, NJ

Industrial Invs.

NAI Mertz

KSI Auto Parts

NAI Mertz

—

41,200 s/f

Whse/Dist

L

10D

801 Spangler Rd.

Lwr Allen Twp, PA

801 Spangle Assoc.

NAI CIR, NAI Robert Lynn Couriers

Landmark

—

30,000 s/f

Whse

L

112-114 4th Avenue

East Orange, NJ

—

Life Long Investments,

CBC NRT

—

8,028 s/f

MultiFamilyl S

—

10D —

22A — June 24 - July 7, 2011 — Mid

Atlantic Real Estate Journal

MAREjournal.com

PEOPLE ON THE MOVE Finocchi receives Executive Club award

Largest office lease

RE/MAX Classic’s Brett & Scott Cushman & Wakefield Furman receive recognition wins MCEDC award

S

T. DAVIDS, PA — Each year RE/MAX International recognizes sales associates and offices who have taken everything the market throws at them and produced spectacular results. Whether our agents helped a family sell their home, find their dream home, save an at-risk homeowner from foreclosure, helped an investor purchase a distressed property or renegotiated a commercial lease, they worked as a positive force in your community. In 2010 alone, seven out of nine RE/MAX Classic agents have received awards for their involvement in buying and selling real estate for their clients. This year the agents of RE/MAX Classic have exceeded the RE/MAX International motto ‘Outstanding Agents, Outstanding Results’.

RE/MAX Classic’s broker/ owner, Scott Furman, ranked 3rd overall in the Pennsylvania Region for total commissions earned in 2010. This is the second year in row that Furman has been recognized as number three for his total yearly sales volume. “Scott has worked very hard with some challenging transactions this past year and is more than deserving of this very prestigious award” said Brett Furman. Brett Furman received the RE/MAX Lifetime Achievement Award, which honors highly successful agents who have earned more than $3 million in commissions and have completed seven years of service with RE/MAX International. “Brett also ranked as

Shown from left: Jim Mealey, Laura Hewitt, Scott Furman, Brett Furman, Joseph Dono, Doug Scullin, Marcello Finocchi and Roisin Smalley. number 22 in the Pennsylvania Region for total commissions earned in 2010”, said Scott Furman, “I am very proud of Brett for all his hard work.”

Brett and Scott Furman received the RE/MAX Platinum Club Award for 2010. In 2010, only 3 percent of all the agents in RE/MAX International worldwide achieved this prestigious award. These busy and successful agents are not only broker/owners of RE/MAX Classic but also own Devon Lanes and the Exton Medical Arts Building.

Both Furmans concurred that they are incredibly proud of the hard work and dedication of Laura Hewitt, Doug Scullin, Joe Dono as well as Jim Mealey, who heads their

newly established Commercial Division. Each of these agents received the RE/MAX 100% Club Award for 2010. Also, Marcello Finocchi received the Executive Club award.

“Winning these awards is a tremendous accomplishment and honor. Our RE/MAX Classic Team continues to raise the bar in real estate, making us and this community proud” says Brett Furman. “Our small group of outstanding agents averaged 15.9 transactions last year”, said Scott Furman, “earning us recognition in the Philadelphia Business Journal. The next closest to us in transactions was another RE/MAX office that has 78 agent compared to fabulous 9!” ■

NAIOP New Jersey honors CBRE at Commercial RE Awards SADDLE BROOK, NJ — CB Richard Ellis stole the show at the 24th Annual NAIOP New Jersey Commercial Real Estate Awards Gala. After receiving the Chairman’s Award in recognition for the firm’s leading-edge contributions to New Jersey’s commercial real estate market, the firm went on to win two out of three deal of the year awards, including the Economic Impact Deal of the Year recognition for the sale of 111 Sylvan Avenue in Englewood Cliffs, and the inaugural Industrial Creative Deal of the Year award for the Macy’s Parade Studio build-tosuit in Moonachie.

Of the three NAIOP NJ award categories for Deal of the Year, CBRE was a finalist in every category, representing

four of the eight finalist transactions from an original pool of more than 30 entries. “It is gratifying when knowledgeable professionals in our industry recognize the complexity, creativity and fortitude of our firm’s New Jersey professionals and transactions,” remarked Jeff Hipschman, senior managing director, CBRE, and head of its New Jersey operations. “In addition to the deal of the year honors, accepting the Chairman’s Award on behalf of CBRE was another example of the mutual respect and admiration between our firm and our industry partners in the state. NAIOP NJ represents some of the brightest and most respected commercial real estate companies and individuals in the New Jersey

marketplace and we are so appreciative of these recognitions from our industry peers. I am so proud of the accomplishments of all my NJ colleagues and of CBRE’s track record of delivering superior results for our clients.”

“CBRE is humbled and honored to be recognized for these landmark transactions, and we extend our gratitude to our business partners, including Piedmont Office Realty Trust, LG Electronics, Macy’s, Russo Development, UBS, Hartz Mountain, Fried Frank Harris Shriver & Jacobson LLP, GE Capital, Mack-Cali, Woodmont Properties, Investcorp and Lincoln Equities for their and collaboration on these and other important transactions,” said Hipschman. ■

Shown from left: Robert Donnelly Jr., executive director, Cushman & Wakefield; Robert Donnelly, vice chairman, Cushman & Wakefield; Philip E. Kaplan, senior vice president, BASF Corporation; and Leslie E. Smith, Jr., executive vice president, development, Rockefeller Group Development Corporation.

MORRISTOWN, NJ — The Cushman & Wakefield, Inc. team of Robert Donnelly, Robert Donnelly Jr., Marc Rosenberg and Ben Brenner were responsible for the year’s largest office lease and have been honored by the Morris County Economic Development Corporation (MCEDC) for the achievement. In mid-

2010, they represented chemical and materials giant BASF in a long-term agreement for a new 325,000 s/f building for the company’s North American headquarters in Florham Park, N.J. Construction is currently underway on the build-to-suit project within The Rockefeller Group’s The Green at Florham Park. ■

MGKF’s Fox, Kirk speak at ALA’s annual conference PHILADELPHIA, PA — Robb Fox, managing partner of Manko, Gold, Katcher & Fox, LLP (MGKF), was joined by the firm’s director of administration John S. Kirk as speakers on Robb Fox a panel on “Creating and Maintaining an Extraordinary Managing Partner/Administrator Team”.

It was presented at the Association of Legal Administrator’s (ALA) Annual Meeting on Tuesday, May 24 in Orlando, FL. The panel helped identify and explore the traits and behaviors that characterize truly exceptional law firm leaderships duos, which is a key element in the leadership success of any managing partner.

Fox has over twenty years of experience providing compliance counseling for business and industry regarding hazardous and municipal waste regulations, Superfund matters, water regulation, and storage tank issues; assisting

with the environmental aspects of corporate and real estate transactions and real property development, including brownfield redevelopment and wetlands, stormwater, and sewer capacity perJohn S. Kirk mitting; and litigating environmental matters before federal and state courts and administrative agencies. He is a Thomas A. O’Boyle adjunct professor at the University of Pennsylvania School of Law and currently serves on the Lower Merion Township Zoning Board and the Men’s Roundtable and Board of Trustees of the Jewish Federation of Greater Philadelphia.

John S. Kirk is a Certified Legal Manager and has worked in the legal industry for over 25 years, first in litigation support consulting, and later in law firm management and administration. John is a past president of the Philadelphia Chapter of ALA. ■

MAREjournal.com

Mid Atlantic Real Estate Journal — June 24 - July 7, 2011 — 23A

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24A — June 24 - July 7, 2011 — Mid

Atlantic Real Estate Journal

MAREjournal.com

COMMERCIAL REAL ESTATE ORGANIZATIONS’

EVENTS CALENDAR JUNE 24 – ABC BALTIMORE Event: 2011 Golf Classic Time: 10:00 AM Location: Compass Point Golf Course Address/City: 9010 Fort Smallwood Rd. Pasadena, MD P: 410-821-0351 Email: bjohnson@abcbaltimore.org www.abcbaltimore.com JUNE 24 – NAIOP MD Event: Legislative Update Time: 8:00 AM – 12:00 PM Location: The Conference Center at Maritime Institute Address/City: 692 Maritime Blvd.

Linthicum, MD Cost: $50 Members $70 Nonmembers P: 443-986-9429 ext. 107 Email: donnad@naiopmd.org www.naiopmd.org JUNE 26 – BOMA Event: 2011 International Conference & the Every Building Show Location: Gaylord National Resort & Convention Center Address/City: Washington, DC www.bomaconvention.org JUNE 27 – CIRC DE Event: Annual Golf Outing Time: 11:00 AM – 7:00 PM Location: DuPont Country Club Main Course Address/City: 1001 Rockland Rd. Wilmington, DE P: 302-633-1705 Email: janet@circdelaware.org www.circdelaware.org JUNE 28 – CREW LEHIGH VALLEY Event: The Lutron Experience Center Opening the Door to Energy Savings Time: 11:30 AM – 1:00 PM Location: Lutron World Headquarters Address/Location: 7200 Suter Rd. Coopersburg, PA 18036 Cost: Free CREW LV Members Only www.crewlehighvalley.org JUNE 28 – CREW PITTSBURGH Event: Connect With Crew Time: 5:00 PM – 6:30 PM Location: Elements Restaurant Address/City: Four Gateway Center, 444 Liberty Ave., Pittsburgh, PA P: 724-864-0814 Email: francolby@gmail.com www.crewpittsburgh.org

JUNE 28 – SMPS NJ Event: 2011 Honor Awards Reception Time: 6:00 PM – 8:00 PM Location: The Newark Club Address/City: Newark, NJ Cost: $40 Members $60 Nonmembers P: 973-693-4488 Registration www.smpsnj.org JUNE 28 – TRISTATE Event: Specialty Meeting Time: 5:00 PM – 7:00 PM Location: Chadwicks at The Club At Shannondell Address/City: 2750 Egypt Rd., Audubon, PA Cost: Members Free/$10 Nonmembers www.tristaterca.com JUNE 29 – ABC EPA Event: Meet the Facilities Managers Time: 3:00 PM – 7:00 PM Location: Seasons 52 Address/City: 160 Mall Blvd.

King of Prussia, PA P: 610-279-6666 Email: rkelsh@abceastpa.org www.abceastpa.org JUNE 29 – NJIFMA Event: Chapter MeetingTour of MCUA Wastewater Treatment Facility Time: 11:00 AM – 1:00 PM Location: Middlesex County Utilities Authority Address/City: 2571 Main St., Sayreville, NJ Cost: $25 Members $45 Nonmembers P: 908-393-9984 Email: cshelley@njifma.com www.njifma.com JUNE 29 – IREM NJ Event: Facility Tour: The Willow School Time: 9:00 AM Location: The Willow School Address/City: 1150 Pottersville Rd. Gladstone, NJ Cost: $25 Member/ Non-Member www.irem1.org

JULY 14 – CORENET NJ Event: Summer Social Time: 5:00 PM – 8:00 PM Location: The Mansion at Natirar Address/City: 2 Main St., Peapack, NJ Cost: $150 Members $175 Nonmembers www.corenetnj.org JULY 14 – PWC NJ Event: Social Media & Networking 101 Location: The Palace Address/City: 333 Davidson Ave. Somerset, NJ www.pwcusa.org JULY 18 – CORENET NJ / IFMANJ Event: Joint Golf Outing Location: Hackensack Country Club Address/City: 800 Soldier Hill Rd. Oradell, NJ 07630 P: 908-663-2708 www.corenetnj.org JULY 18 – NAIOP PITTSBURGH Event: Annual Golf Outing Time: 11:00 AM Location: Laurel Valley Golf Club Address/City: Route 711 S., Ligonier, PA P: 412-928-8303 www.naioppittsburg.com JULY 18 – ULI NNJ Event: Hudson River Cruise Time: 11:00 AM – 2:30 PM Location: Liberty House Restaurant Address/City: 76 Audrey Zapp Dr. Jersey City, NJ Cost: $75 Members $90 Non Members P: 800-321-5011 www.nnj.uli.org JULY 19 – ULI PHILADELPHIA Event: Mini Workshop: Legal & Title Issues in Commercial Real Estate Transactions Time: 4:00 PM – 6:00 PM Location: Ernst & Young Address/City: 2001 Market St., 36th Fl. Philadelphia, PA P: 800-321-5011 www.philadelphia.uli.org

JUNE 29 – USGBC Emerging Professionals Summer Social Location: TEAK on the Hudson Address/City: 16 Hudson Place, Hoboken, NJ P: 201-232-4446 www.usgbcnj.org

AUGUST 3 – SIOR NJ Event: Summer Social Time: 6:00 PM – 8:00 PM Location: Long Valley Brew Pub Address/City: 1 Fairmont Rd., Long Valley, NJ www.siornj.com

JUNE 30 – CREW PHILADELPHIA Event: Spring Tour – Curtis Institute of Music Time: 5:15 PM Location: Curtis Institute of Music Address/Location: 1726 Locust St. Philadelphia, PA Cost: $55 Members Only E: crewphiladelphia@crewnetwork.org www.crewphiladelphia.org

AUGUST 9 – SMPS PHILADELPHIA Event: Guest Chef Night at the Ronald McDonald House Time: 3:00 PM – 8:00 PM Location: Front & Erie House Address/City: 100 E. Erie Ave. Philadelphia, PA P: 610-220-2397 Email: aizzo@marketri.com www.smpsphiladelphia.org

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Mid Atlantic Real Estate Journal — June 24 - July 7, 2011 — 25A

Mid Atlantic REAL ESTATE JOURNAL

BILLBOARD

CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS • CLASSIFIEDS

HART CORPORATION an International Industrial Real Estate Firm in business since 1963, and industry leader working in secondary markets throughout the United States,

IS SEEKING A

Corporate Account Sales Representative Hart Corporation specializes in selling and leasing large industrial buildings in non-metropolitan areas of the country. Hart is seeking a Corporate Account IDEAL LOCATION in BETHLEHEM, PA Busy corner with maximum on-street visibility.

6 apartments, all leased & occupied. · 1900 sq ft ground level commercial area for lease or owner use. · Rear 2 car garage with 12’ ceilings for street deliveries & paved parking space for 4 cars

Building is in the heart of the revitalized South Side business district, near the Discovery Center, the Sands Casino and Lehigh University.

Sales Representative for our headquarters in Southampton (suburban Philadelphia), PA. The ideal candidate is a highly motivated, detail and team-oriented sales professional who will interact with corporate decision-makers regarding their real estate dispositions and acquisitions. Strong writing skills are required. Industrial real estate experience is preferred, but not required. This position involves travel throughout the country.

We offer a starting salary, then commission.

Fax or email your resume, with salary needs to: 215-322-5840 or hr@hartcorp.com

ACHEY REAL ESTATE $565,000 610-868-1810

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Industrial Land – 10.7 acre site in Valmont Industrial Park for sale. Zoned for manufacturing.

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Retail – Wilkes-Barre. 11.42 acres across from Wyoming Valley Mall at signalized corner.

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Philadelphia PA —

610-366-8120 x 24, Cheryl Green green_c@sdepa.com 610-768-8990, Rawley Shelton rawleyshelton@gmail.com

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Single Block 2 3/8 x 3 5/8”

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Back Cover A — June 24 - July 7, 2011 — Mid

Atlantic Real Estate Journal

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Prime Lehigh VaLLey CommerCiaL Lease LoCations...

Office and industrial availabilities located throughout the Lehigh Valley with excellent proximity to major thoroughfares including I-78, Routes 22, 33, and 100, Stabler Corporate Center, Schoenersville Rd. and around Lehigh Valley International Airport

1525 Valley Center Parkway Bethlehem, Pa

• Class a OffiCe spaCe • Centrally lOCated in the lehigh Valley COrpOrate Center • great tenant amenities in and arOund COrpOrate Center inCluding dining, shOpping, lehigh Valley internatiOnal airpOrt, hOtels, Walking/jOgging trails.

• easy aCCess tO rt. 22 and rt. 33

3701 CorPorate Parkway • Class “a+” leed Certified Building • lOCated in the staBler COrp. Center near the Center Valley gOlf COurse and prOmenade shOps • easy aCCess tO i-78, rt. 309, and rt. 33 Center Valley, P Pa a

974 marCon BouleVard • industrial/flex Building, With Class B OffiCe/WarehOuse COnfiguratiOns aVailaBle • adjaCent tO lehigh Valley internatiOnal airpOrt • easy aCCess tO rt. 22, i-78 and rt. 309 allentown, P Pa a

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SHOPPING CENTERS Mid Atlantic REAL ESTATE JOURNAL Section B of the Mid Atlantic Real Estate Journal

20,164 s/f retail center at 464 Elizabeth Avenue

Colliers brokers $9 million retail sale in Somerset, New Jersey

S

OMERSET, NJ — Colliers International has brokered the sale of a 20,164 s/f retail center located at 464 Elizabeth Ave. for $8.9 million.

The center contains Rite Aid, Dunkin’ Donuts and New Millen- William Aiello nium Bank. A regional inves-

tor purchased the property at an 8.6% cap rate. William Aiello and George Lulos of the firm’s Harrisburg, PA, office partnered with Ian Schroeder and Maurice Nieman of Colliers’ Irvine, CA., George Lulos office to represent both parties. ■

JUNE 24 - JULY 7, 2011

HI-LIGHTS Welco Realty reps Prestige Properties & Dev. in 28,000 s/f Welco Realty, Inc., an X Team partner, announced today that Daffy’s opened its first store in Bronx, New York.

See page 3B.

Lieberman Earley & Co. arranges 9,872 s/f sale Lieberman Earley & Co., acting as the sole agent between the seller and the buyer, has negotiated the sale of a 9,872 s/f office and retail building located at 1564 E. Lancaster Ave. See page 4B.

464 Elizabeth Avenue

Design team includes Shalom Baranes Associates

Hines|Archstone develops 185,000 s/f of retail situated in six buildings WASHINGTON, DC – The start of construction on the landmark CityCenterDC development (shown right) by Hines|Archstone was announced at a groundbreaking ceremony.

A joint venture between Clark Construction Group and Smoot Construction of Washington, DC has been engaged as general contractor.

Construction commenced on March 23 and is expected to reach substantial completion by the fourth quarter of 2013.

Formerly the site of the district’s old convention center, CityCenterDC is a 10-acre, mixed-use development. The

first phase of the project is a pedestrian-friendly neighborhood with more than 185,000 s/f of retail situated at the base of six buildings that encompass 458 rental apartment units and 216 condominium units; and 520,000 s/f of office space. A second phase of the project is planned to include a 350-room upscale hotel, along

ALSO INSIDE: 3RD ANNUAL RETAIL PROFILES SPOTLIGHT........................ 5-16 RETAIL BUSINESS CARD DIRECTORY .................................17B BROKERAGE DIRECTORY .............................................. 18-19B ICSC ORGANIZATION PAGE ..............................................20B Section B, 240 pages

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www.dualtemp.com

with 110,000 additional s/f of retail.

CityCenterDC’s retail component is designed to attract unique local, regional and national retailers and restaurants, complementing those already present downtown.

Additional members of the design team include DC-based Shalom Baranes Associates, serving as associate master plan architect, project architect of record and lead designer of the residential rental buildings. Gustafson Guthrie Nichol of Seattle is the lead landscape architect, working with Washington, DC-based Lee and Associates. ■

B Inside Cover — June 24 - July 7, 2011 — Shopping Centers — Mid

Atlantic Real Estate Journal

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Mid Atlantic Real Estate Journal — Shopping Centers — June 24 - July 7, 2011 — 1B

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2B — June 24 - July 7, 2011 — Shopping Centers — Mid

Atlantic Real Estate Journal

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Mark Taylor, Dean Zang and Peter Snell broker

Marcus & Millichap arranges the sale of Ayden Crossing

P

HILADELPHIA, PA — Marcus & Millichap Real Estate Investment Services, one of the nation’s largest real estate investment services firms, has arranged the sale of Ayden Crossing, a 50,778 s/f neighborhood shopping center, anchored by Food Lion (Delhaize Group) and Dollar General.

Located in the Greater Greenville submarket, the center was 100 percent leased at the time of sale.

The sales price of $4.6 million, or $90.59 psft, represents a 9.06 percent capitalization rate on actual income. Mark Taylor, first vice president, and Dean Zang, vice president investments, of the Philadelphia office of Marcus & Millichap, exclusively represented the seller, Ayden Associates, LLC, a North Carolina limited liability company. Peter Snell, associate of the Washington,

more challenging to promote and necessitate higher yields” said Taylor. “At the height of the market, buyers weren’t differentiating between markets.

Today, they’ve wised up,” he added. ■

D.C. office of Marcus & Millichap, procured the buyers, Rosemyr Corporation and Emrose Hampton, L.C., based in Henderson, NC. James Allen Smith in the firm’s North Carolina office also provided representation. The property was on the market for 84 days.

“The marketing of this property demonstrated the two tiered market we are in today.

Well located assets in major markets are generating tremendous buyer interest and therefore compressed cap rates, while assets in small towns and rural areas are

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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Associate Publisher Elaine Fanning efanning@MAREJournal.com

The Goldstein Group brokers 1,500 s/f lease throughout New Jersey

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PARAMUS, NJ — Chuck Lanyard, president of The Goldstein Group announced that the company has consummated ten new retail leases throughout New Jersey.

“We have seen an increase in retailers looking to open stores over the past few months with many landlords and tenants relying on us to help them,” commented Lanyard. ■

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Mid Atlantic Real Estate Journal — Shopping Centers — June 24 - July 7, 2011 — 3B

SHOPPING CENTERS Store in Bay Plaza Shopping Center

Welco Realty reps Prestige Properties & Dev. in 28,000 s/f

B

RONX, NY — Welco Realty, Inc., an X Team partner, announced today that Daffy’s opened its first store in Bronx, New York. One of New York’s major discount apparel retailer chain opened its first store in Bay Plaza Shopping Center, one of the largest strip shopping centers in New York city.

Welco Realty negotiated the deal on behalf of the landlord, Prestige Properties & Development Co. Bay Plaza is over one million sf shopping center that has grown over the last twenty years to include such notable tenants such as Barnes & Noble, JCPenney, Old Navy, Marshall’s, P.C. Richards, Kmart, Modell’s, AMC Theatres, Staples, Toys R Us, Babies R Us and many more national & regional chains.

The inclusion of Daffy’s coming into Bay Plaza and the recent opening of other apparel retailers such as Children’s Place and Carter’s will just improve the existing apparel mix in the shopping center. ■

Fameco’s Bennett to assist in aggresive store roll out HACKENSACK, NJ – Fameco Real Estate announced that Boardwalk Fresh Burgers and Fries has signed its first lease in New Jersey at Summit Plaza in Hackensack. Fameco’s Tyler Bennett represented the retailer and will spearhead its aggressive expansion in the market.

Boardwalk Fresh Burgers and Fries has signed a lease for 2,684 s/f at Summit Plaza, a Stop N Shop anchored center. According to Bennett, “I expect this concept to do tremendously well at this location. With the strong population density in the trade area, including a high day time population and the fact that this market lacks a similar concept, I believe will all attribute to their success.”

Bennett will also assist the retailer with its aggressive store roll out program. Boardwalk Fresh Burgers and Fries is looking for 1,700-2,500 s/f units of inline, end cap or freestanding space.

Boardwalk Fresh Burgers and Fries intends to grow to more than 200 stores in the next five years via franchise opportunities. ■

SEEKING SITES IN METRO NEW YORK & NEW JERSEY ONE OF AMERICAS PREMIER THEATER CHAIN IS AGGRESSIVELY SEEKING LOCATIONS IN THE METRO NEW YORK & NEW JERSEY AREA. SIZE: 30,000 - 80,000 S.F. CEILING HEIGHT: MINIMUM OF 36 FEET PLEASE FORWARD ALL SUBMITTALS & INQUIRIES TO: ALLEN COOPERMAN ALLEN.S.COOPERMAN@GMAIL.COM

OR JERRY WELKIS JWELKIS@WELCOREALTY.COM

EXCLUSIVE LEASING AGENT 2525 PALMER AVENUE NEW ROCHELLE, NEW YORK 10801 914.576.7500 FAX: 914.576.7596

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201-393-7500 | 484-928-6800 | 212-531-8750 | www.hollistercs.com

4B — June 24 - July 7, 2011 — Shopping Centers — Mid

Atlantic Real Estate Journal

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SHOPPING CENTERS Feature Your Project

Developments Construction Renovations Mid Atlantic Real Estate Journal For more information call Elaine Fanning 800-584-1062/781-871-5298 Ext. 212

EFanning@mareJournal.com

Office/retail building at 1564 E. Lancaster Ave.

Lieberman Earley & Co. arranges 9,872 s/f sale

P

AOLI, PA — Lieberman Earley & Company, acting as the sole agent between the seller and the buyer, has negotiated the sale of a 9,872 s/f office and retail building located at 1564 E. Lancaster Avenue in Paoli.

John Lieberman, a principal of Lieberman Earley & Company in Wayne, PA., arranged the agreement of sale for the seller, Market Link Holdings of Berwyn, PA and the buyer, Katra Szilagyi LLC, of Phoenixville.

1564 E. Lancaster is a two-story, modern, attrac-

1564 E. Lancaster Avenue

Locations Wanted Consistently Ranked #1 Franchise 45+ Year Track Record

We’re looking for sites in PA Flexible Space Requirements End Cap, In-line, Free Standing Non-Traditional Venues - Hospitals/Colleges Universities/B&I/Stadiums/Casinos/Airports Local Contacts: Eastern PA — Philadelphia PA —

610-366-8120 x 24, Cheryl Green green_c@sdepa.com 610-768-8990, Rawley Shelton rawleyshelton@gmail.com

realestate.subway.com www.subway.com

tive building constructed of stone and stucco with an abundance of windows facing Lancaster Avenue on both floors each containing 4,936 s/f. This property was formally used as an exercise and wellness facility for Paoli Health and Fitness.

A few of the many features offered is a corner lot location consisting of 179 Route 30, public water and sewer, gas fired combination heat and central air powered by 4 York compressors and 2 Trane compressors, upgraded electric with hard-wired alarm and smoke detectors, ceiling heights of 10 feet on the first floor and 9 feet on the second floor and an extensive amount of on-site parking spaces.

The property has a highly visible location along Route 30 with SEPTA Bus Stop Route 105 on-site and Amtrak R5 Daylesford Station just 1 block away. ■

Great Clips leases 1,651 s/f space at Regency Centers’ Plaza Square WAYNE, NJ – Regency Centers, a national owner, operator and developer of grocery-anchored and community shopping centers, has leased 1,651 s/f of retail space to Great Clips, bringing the center to 96 percent leased.

The business is slated to open in Summer 2011.

The 103,842 s/f shopping center is anchored by a 60,000 s/f ShopRite, alongside national retailers such as Wendy’s, KFC and Bank of America.

Plaza Square is located at 625 Hamburg Tpke. ■

SHOPPING CENTERS SPOTLIGHT 3RD ANNUAL RETAIL PROFILES SPOTLIGHT MAREjournal.com

Mid Atlantic Real Estate Journal — Shopping Centers — Retail Profiles — June 24 - July 7, 2011 — 5B

t

Patrick McNamara, P.E.

Joel Snyder

Bill Klein

Karen E. Abrams

Director of Geotechnical Investigations Earth Engineering Inc. East Norriton, PA

Principal RGS Associates Brownstown PA / York, PA

Principal Anchor Realty Advisory Group LLC Tinton Falls NJ

Senior Attorney Meislik & Meislik Montclair, New Jersey

Christopher A. Munley

Julius A. Borrus

Terri Mickens, CCIM

Derrick Dougherty

Chad Stine

Christopher W. Virgo

Associate Director Marcus & Millichap Philadelphia, PA

Matthew Rutt, PE, CDP

President LANDCORE Lancaster, Wyndmoor, Pittsburgh, PA & Princeton, NJ

Broker - President Borrus Associates, Inc Red Bank, NJ

Joseph Viscuso Vice President Stantec West Chester, PA

Associate Broker Coldwell Banker Commercial Pennco Real Estate Stroudsburg, PA

Vice President/Partner Bennett Williams Realty Inc. York, PA

Associate Marcus & Millichap Philadelphia, PA

Sales Associate Remco Realty Group LLC North Brunswick, NJ

6B — June 24 - July 7, 2011 — Retail Profiles — Shopping Centers — Mid

Atlantic Real Estate Journal

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RETAIL PROFILES CHAD STINE

PATRICK MCNAMARA, P.E.

Chad Stine Vice President/Partner Bennett Williams Realty Inc. LOCATION: 110 North George Street, York PA 17401 TYPE OF FIRM: Full-Service commercial real estate firm offering first-class landlord and tenant representation, as well as full property management services.

Made up of three local offices in York, Lancaster and Harrisburg, Bennett Williams has the tools and experience needed to succeed in brokering deals of any size throughout Central PA and the Mid-Atlantic region.

FIRST JOB IN REAL ESTATE INDUSTRY: Retail Specialist-Bennett Williams Realty Inc. WHAT DO YOU DO NOW AND ARE PLANNING FOR THE FUTURE: Primary focus is retail development, investment property sales and acquisitions, new construction development/retail leasing as well as site selection for national and regional tenants such as Jimmy John’s, Little Caesars, Hurricane Grill & Wings, Snap Fitness, Five Guys Burgers and Fries and Rutter’s, to name a few. In the future we plan to continue to cultivate and sustain ongoing business relationships while adapting and evolving in an ever-changing economy.

WHAT IS A HOT TOPIC FOR YOUR CLIENTS? For property owners interested in selling or leasing: creating maximum and effective marketing exposure to potential buyers and tenants, especially given the current economy. For buyers/tenants: Now more than ever, buyers and tenants want to ensure they get the best deal possible, while at the same time, still achieve the best locations/properties.

MISSION STATEMENT: Our goal at Bennett Williams is to provide the best service and support for all of our clients, ranging from national retailers to local property owners in need of advice and assistance with their personal real estate portfolio. Bennett Williams is committed to evolving with the times and offering cutting-edge technology and strategy to ensure each transaction is handled with the utmost professionalism, giving our clients complete confidence.

KEY TO YOUR SUCCESS IN 2011: Continue to maintain a positive attitude; knowing that persistence combined with industry knowledge and experience will eventually pay off.

IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? An attorney, specializing in real estate law.

DIRECTOR OF GEOTECHNICAL INVESTIGATIONS Patrick McNamara, P.E. Director of Geotechnical Investigations

Earth Engineering Incorporated

Bennett Williams Realty Inc.

VICE PRESIDENT/PARTNER

LOCATION: 115W Germantown Pike, Suite 200 East Norriton, PA BIRTH PLACE AND DATE: Philadelphia, December 19, 1962 FAMILY: Wife – Barbara, Children – Emma, Molly and Patrick COLLEGE: Drexel University, BS & MS Civil Engineering FIRST JOB OUT OF COLLEGE: Woodward Clyde Consultants FIRST JOB IN REAL ESTATE OR ALLIED FIELD: Provided Geotechnical Engineering services for development and construction industry

WHAT DO YOU DO NOW AND WHAT ARE YOU PLANNING FOR THE FUTURE: Manage a staff of Engineers, Geologist and Soil Scientists who conduct subsurface investigations to evaluate the soil and rock conditions to develop cost effective and technically sound recommendations for site development foundation designs.

KEY TO YOUR SUCCESS (ONE IDEA) Deliver quality service to clients when you promise it.

IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? Work as an advocate for creation of affordable housing for the poor.

JOEL SNYDER

CHRISTOPHER W. VIRGO

Joel Snyder Principal RGS Associates LOCATION: Brownstown PA / York, PA TYPE OF FIRM: Land Planning, Landscape Architecture, Site Engineering EDUCATION: B.S. Landscape Architecture FIRST JOB IN RETAIL REAL ESTATE INDUSTRY: I have always been in the land planning and site engineering side of retail development and the first retail project was the design of a Food Lion shopping center in York, PA. WHAT DO YOU DO NOW AND ARE PLANNING FOR THE FUTURE: Managing Principal of RGS Associates and look at continued growth and expansion opportunities for RGS Associates.

WHAT IS A HOT TOPIC FOR YOUR CLIENTS: The continued challenges with new regulations.

FAMILY: Wife – Jayne HOBBIES: Tennis/Golf/Traveling FAVORITE BOOK OF 2010-2011: Flawless by Josh Spanougle, a medical thriller by my cousin.

KEY TO YOUR SUCCESS IN 2011: Persistence – just keeping at it day after day.

IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? Because I really enjoy wine, even though I probably wouldn’t make a lot of money, I’d enjoy working at a wine bar.

Christopher W. Virgo Sales Associate Remco Realty Group LLC LOCATION: 525 Milltown Rd., Suite 101, North Brunswick, NJ TYPE OF FIRM: Retail Real Estate EDUCATION: University of Arizona FIRST JOB IN RETAIL REAL ESTATE INDUSTRY: Sales agent for Oxford and Simpson Realty Long Island, New York WHAT DO YOU DO NOW AND ARE PLANNING FOR THE FUTURE: Right now I am working ever day, to the best of my ability, to make my customers lives easier and more profitable through the acquisition of retail/investment properties. In the future I plan on retiring to a horse farm in Virginia or North Carolina.

WHAT IS A HOT TOPIC FOR YOUR CLIENTS: The rising cost of CAM charges.

FAMILY: Happily married to Denise Buchanan Virgo for 9 years. We have 2 dogs, Chase and Gunner and 2 cats, Rock and Tyson all of which are rescues. We also have 2 horses, a 10 yr old quarter horse named Deacon and a 1 yr old Friesian stallion named Issac.

HOBBIES: Horseback riding, High Power Rifle shooting Competitions, riding my Harley Davidson Road King.

FAVORITE BOOK OF 2010-2011: All of Og Mandino’s books.

FAVORITE MOVIE OF 2010-2011: I’m more of a reader than a movie watcher.

PERSON YOU MOST ADMIRE CURRENTLY : My Father, I’ve never met a better man.

KEY TO YOUR SUCCESS IN 2011: Persistence and dedication to my profession.

IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? Stand up comedy.

PRINCIPAL

SALES ASSOCIATE

Remco Realty Group, LLC

RGS Associates

Earth Engineering Incorporated

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Mid Atlantic Real Estate Journal — Shopping Centers — Retail Profiles — June 24 - July 7, 2011 — 7B

RETAIL PROFILES COMMERCIAL REAL ESTATE

GEOTECHNICAL ENGINEERING

EARTH ENGINEERING INCORPORATED

ROUZERVILLE COMMONS WAYNESBORO, PA

1,300 – 3,000 S.F. RETAIL SPACE FOR LEASE • Retail space available for lease

•

The go-to center in Waynesboro

Wal-Mart and Lowe’s anchored

•

Access off of Route 16

•

Geotechnical Engineers & Geologists Subsurface Investigations Construction Inspection & Testing Retaining Wall Design Environmental Site Assessments and Remediation Clean Fill Testing Carbonate Site Assessments Stormwater Infiltration Testing Laboratory Soils Testing

Contact: Jeffrey Kauffman, Chad Stine or Bradley Rohrbaugh

717-843-5555

110 N. George Street, 4th floor York, PA 17401 fax: 717-843-5550

LAND PLANNING, LANDSCAPE ARCHITECTURE, SITE ENGINEERING

Central PA: 717.697.5701

Corporate Headquarters: 610.277.0880 Lehigh Valley: 610.967.4540

South Jersey: 856.768.1001

www.earthengineering.com

COMMERCIAL REAL ESTATE

Central New Jersey’s Finest

For Lease: OLD BRIDGE, NJ Cheesequake Commons is a 35,000sf CVS anchored neighborhood strip center. We currently have 2 vacancies ranging from 1,500sf to 2,500sf. Ciro Pizza Café recently leased a 4,755sf end cap, and will open in July 2011. The strip center is located ¼ mile from the Matawan Train Station, exit #120 of the Garden State Pkwy. Seeking Chicken, Burgers, optical, dental, medical, travel, electronics and gift categories.

Sale / Lease: HAZLET, NJ Free standing 15,000sf retail building on 2.57 acres. Large Two Panel Pylon sign.

The building is clear span and column free.

Serving: Hazlet, Keyport, Aberdeen and Holmdel. Ideal uses: Home Improvement, Fitness, Appliances, Day Care, Electronics, Party & Rentals, Golf, Liquor Store, Pools & Patio, Marine, Produce Market, Pet Supplies, office Supplies, etc.

Contact: Peter Gallicchio • pgallicchio@RemcoRealty.net REMCO REALTY GROUP, LLC 525 Milltown Road, Suite 101 North Brunswick, NJ 08902 (732) 253-0888 x 11 www.RemcoRealty.net

8B — June 24 - July 7, 2011 — Retail Profiles — Shopping Centers — Mid

Atlantic Real Estate Journal

MAREJournal.com

RETAIL PROFILES MATTHEW RUTT, PE, CDP

KAREN E. ABRAMS

PRESIDENT

SENIOR ATTORNEY

Matthew Rutt, PE, CDP LANDCORE Engineering Consultants, PC LOCATION: Lancaster, Wyndmoor, Pittsburgh, PA and Princeton, NJ TYPE OF FIRM: Civil Engineering Consultants EDUCATION: BS in Civil Engineering, Lafayette College FIRST JOB IN RETAIL RE INDUSTRY: Small firm in Flemington, NJ WHAT DO YOU DO NOW AND ARE PLANNING FOR THE FUTURE: my focus is on our clients and expanding/improving my business – it’s a process that never ends.

WHAT IS A HOT TOPIC FOR YOUR CLIENTS: Finding deals that make sense, getting financing for deals that they do find, and finding great tenants – the design and permitting that we do are secondary in this environment. It’s our job to take that ball and run with it so that our clients can focus on the other topics.

FAMILY: (Wife) Megan and son Owen (and twins on the way….)

HOBBIES: Triathlons, fishing, most anything outdoors KEY TO YOUR SUCCESS IN 2011: Always be proactive – good things don’t just happen….

IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? Really most anything where I could create and grow a business – that is my passion.

Meislik & Meislik

LANDCORE Engineering Consultants, PC

President

Karen E. Abrams Senior Attorney Meislik & Meislik LOCATION: Montclair, New Jersey TYPE OF FIRM: Law Firm EDUCATION: B.A. with Honors, Economics, Washington University in St. Louis, 1992, M.B.A., Finance and Investment, George Washington University, 1995, J.D., George Washington University School of Law, 1995 FIRST JOB IN RETAIL RE INDUSTRY: As an attorney for then-named lawfirm Dickstein Shapiro Morin & Oshinsky in Washington, D.C. WHAT DO YOU DO NOW AND ARE PLANNING FOR THE FUTURE: I am a senior attorney at a small, extremely well respected boutique lawfirm in Montclair, NJ. The firm’s specialty is commercial real estate, with a special focus on retail real estate. I handle a significant amount of commercial leases every year, representing both landlords and tenants, in premises as small as 750 s/f and as large as 150,000 s/f. A small percentage of the leases that I negotiate each year are office leases, but the primary focus of the leases on which I work is retail. In 2008, I was integral in assisting one of the nation’s largest retail tenants in their acquisition of a package of more than 20 leases involving over 2,500,000 s/f.

Additionally, I work part time. I am only in the office two days each week, and I work a sixty percent schedule. My plans for the future involve continuing what I’m doing now, and hopefully getting better and better!

FAMILY: I have been married for almost 15 years to my wonderful husband. We have 3 beautiful children: an 11 year old daughter, a 9 year old son, and a 4 year old daughter. We also have two amazing golden retrievers There is never a dull moment in our house!

HOBBIES: Singing, exercising, reading, spending time with my family!

FAVORITE BOOK OF 2010-2011: The Kitchen House by Kathleen Grissom FAVORITE MOVIE OF 2010-2011: The King’s Speech PERSON YOU MOST ADMIRE CURRENTLY : Oprah Winfrey. In my opinion, she continues to be the celebrity who most uses her fame and fortune to virtually change the world.

KEY TO YOUR SUCCESS IN 2011 (ONE IDEA) Capitalize on your strengths, but don’t be afraid to admit your weaknesses. Own up to them, and learn from them so that your weaknesses ultimately become your strengths.

IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? I believe I would go back to medical school and study to be an OB/GYN.

BILL KLEIN

JOSEPH VISCUSO

PRINCIPAL

VICE PRESIDENT

Bill Klein

Joseph Viscuso

Principal

Vice President Stantec LOCATION: West Chester, PA

LOCATION: Tinton Falls NJ

TYPE OF FIRM: Architecture/Engineering

TYPE OF FIRM: Commercial real estate Advisory services for lenders,

EDUCATION: Bachelor and Master of Science, Civil Engineering

Private funds, developers and turn around management

FIRST JOB IN RETAIL REAL ESTATE INDUSTRY:

EDUCATION: Upsala College, BA Economics, Graduate course work

Director of Construction for Gino’s

at Harvard, NYU and Rutgers University

WHAT DO YOU DO NOW AND ARE PLANNING FOR THE FUTURE: VP, Stantec, Commercial Real Estate Lead , Continue to grow our

FIRST JOB IN RETAIL REAL ESTATE INDUSTRY: Commercial Mortgage Banker

market share in the Commercial Sector

WHAT DO YOU DO NOW AND ARE PLANNING FOR THE FUTURE: Commercial Real Estate Investor and Broker. My partners and I are

WHAT IS A HOT TOPIC FOR YOUR CLIENTS:

planning to utilize our combined 150 years of experience to provide

process

Ever increasing pressures/resistance in the permitting/entitlement FAMILY: Wife Deb, 5 children and 5 grandchildren

consultation, debt and equity to the industry.

HOBBIES: Golf, Travelling

WHAT IS A HOT TOPIC FOR YOUR CLIENTS: Workouts and repositioning their real estate FAMILY: Wife and 2 great sons, 2 wonderful daughter in laws and one greatest grand daughters HOBBIES: Boating and kayaking KEY TO YOUR SUCCESS IN 2011: Creativity and the hard work to make the idea work.

IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? Yacht Captain

FAVORITE BOOK OF 2010-2011: And God Said Play Ball FAVORITE MOVIE OF 2010-2011: Country Strong PERSON YOU MOST ADMIRE CURRENTLY:

Stantec

Anchor Realty Advisory Group LLC

Anchor Realty Advisory Group LLC

“Our Troops” for the sacrifices they make every day KEY TO YOUR SUCCESS IN 2011: Network as much as possible—meeting new people and exchanging ideas at every opportunity IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? Golf course designer

MAREJournal.com

Mid Atlantic Real Estate Journal — Shopping Centers — Retail Profiles — June 24 - July 7, 2011 — 9B

RETAIL PROFILES ENGINEERING CONSULTANTS

RETAIL REAL ESTATE

PUT US ON YOUR TEAM TO RUN INTERFERENCE. • Land Development Design • Permi ng Transactional real estate can be a rough game.

• Project Management

PHILADELPHIA METRO OFFICE: 8614 Montgomery Avenue Wyndmoor, PA 19038 215-836-2510 LANCASTER OFFICE: 1853 William Penn Way, P.O. Box 10368 Lancaster, PA 17605-0368 717-672-0614

Meislik & Meislik’s thorough understanding and experience in the field of transactional real estate law removes the obstacles that get in the way of reaching your goals. No matter what comes at you, you’ve got the power of our team of experts on your side.

Whether you’re acquiring, financing, leasing or managing, call us to Get the Deal Done.

September, 2010. Ira Meislik, managing principal of the Montclair, New Jersey law firm of Meislik & Meislik, has again been selected for inclusion in The Best Lawyers In America®.

CENTRAL NEW JERSEY OFFICE: 100 Overlook Center, Suite 200 Princeton, NJ 08540 609-920-0268

LANDCOREconsul ng.com

COMMERCIAL REAL ESTATE

PRIME RETAIL SPACE 600 SF - 6,000 SF AVAILABLE START UP BUSINESS PACKAGES

973 783-3000 www.meislik.com Montclair, New Jersey

ARCHITECTURE/ENGINEERING

10B — June 24 - July 7, 2011 — Retail Profiles — Shopping Centers — Mid

Atlantic Real Estate Journal

MAREJournal.com

RETAIL PROFILES JULIUS A. BORRUS

TERRI MICKENS, CCIM

Julius A. Borrus Broker - President COMPANY: Borrus Associates, Inc LOCATION: Red Bank, NJ TYPE OF FIRM: Investment Real Estate Brokerage EDUCATION: High School, Columbia HS – 1 year college, Rutgers University FIRST JOB IN RETAIL REAL ESTATE INDUSTRY: Property Management WHAT DO YOU DO NOW AND ARE PLANNING FOR THE FUTURE: Primarily Sales WHAT IS A HOT TOPIC FOR YOUR CLIENTS: Bottom Line & Cap Rates FAMILY: Wife, Joanna – 5 children & 8 grandchildren HOBBIES: sailing, skiing, traveling, cooking & my grandkids FAVORITE BOOK OF 2011: The Summon FAVORITE BOOKS: True Compass & Intimate Lives of our Founding Fathers FAVORITE MOVIE OF 2010-2011: The Conspirator PERSON YOU MOST ADMIRE CURRENTLY : Joe Biden PERSONS YOU MOST ADMIRE: Edward Kennedy & Thomas Jefferson KEY TO YOUR SUCCESS IN 2011: Common Sense & Following Thru IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? Attorney

COMMERCIAL INVESTMENT REAL ESTATE

- 345 - 7002

ASSOCIATE BROKER

Terri Mickens, CCIM Associate Broker

Coldwell Banker Commercial Pennco Real Estate

Borrus Associates, Inc.

BROKER — PRESIDENT

Coldwell Banker Commercial Pennco Real Estate LOCATION: 1250 North Ninth Street, Stroudsburg, PA 18360 TYPE OF FIRM: Real Estate Brokerage EDUCATION: BS Business Administration FIRST JOB IN RETAIL REAL ESTATE INDUSTRY: Leasing Agent WHAT DO YOU DO NOW AND ARE PLANNING FOR THE FUTURE: Full Service Sales/Leasing Retail Sector WHAT IS A HOT TOPIC FOR YOUR CLIENTS: Leasing Vacancies FAMILY: 2 Kids, Pets and Home HOBBIES: Gardening and Sports KEY TO YOUR SUCCESS IN 2011: Persistence IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? Lawyer

REAL ESTATE BROKERAGE FIRM

JIM THORPE: Plaza only

ALLENTOWN: 3 Story Class

6 years old. 12,120 SF, 6 units, 3

B Office Building, 40,000+

existing tenants, great convenience

SF of available space. Well

store opportunity available . Call

maintained property w/ great

Teresa Mickens for financial info.

highway access on Rte. 78

Asking $950,000

Asking $6,500,00

WESTFALL TWP: 12+/- Acres zoned C-3 on Rte.6/Rte.209 common entrance w/ approved Regional Bank, also includes two residential units. Site Plan available, ideal for Retail-Medical Complex.

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

Asking $1,300,000

Ava ila

ble

MAREJournal.com

Mid Atlantic Real Estate Journal — Shopping Centers — Retail Profiles — June 24 - July 7, 2011 — 11B

RETAIL PROFILES DERRICK DOUGHERTY

ASSOCIATE DIRECTOR, NATIONAL RETAIL GROUP

ASSOCIATE, NATIONAL RETAIL GROUP

Christopher A. Munley Associate Director, National Retail Group Marcus & Millichap LOCATION: Philadelphia, PA TYPE OF FIRM: Real Estate Investment Services EDUCATION: B.A. Economics, Drew University, Madison, NJ FIRST JOB IN RETAIL REAL ESTATE INDUSTRY: College Internship, Schuckman Realty, Leasing Brokerage Firm, Staten Island, NY WHAT DO YOU DO NOW AND ARE PLANNING FOR THE FUTURE: Consulting with private investors and developers on the disposition and acquisition of shopping centers and net leased properties.

WHAT IS A HOT TOPIC FOR YOUR CLIENTS: Redevelopment of mature assets in core markets is a prominent focus. There is becoming a greater spread between top-tier location and those that are in secondary or territory positions within the same market. Redevelopment of older, tired retail properties in these top tier locations will be where NOI growth will occur most.

HOBBIES: Traveling, playing basketball, playing golf, reading, going to every new restaurant possible.

PERSON YOU MOST ADMIRE CURRENTLY: My Father KEY TO YOUR SUCCESS IN 2011: I take a long term approach to every client relationship. I try to focus on a client’s entire portfolio, evaluate every property, and find the strengths and weaknesses throughout, and where there is opportunity to improve return on investment.

IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? General Manager of a NBA team.

Derrick Dougherty Associate, National Retail Group Marcus & Millichap LOCATION: Philadelphia, PA TYPE OF FIRM: Real Estate Investment Services EDUCATION: BA in Electronic Media; Lycoming College FIRST JOB IN RETAIL RE INDUSTRY: Marcus & Millichap WHAT DO YOU DO NOW AND ARE PLANNING FOR THE FUTURE: Assist clients in the acquisition and disposition of assets. Our group specializes in the sale of shopping centers and net leased assets focusing on the Mid-Atlantic and Northeast Corridor.

WHAT IS A HOT TOPIC FOR YOUR CLIENTS: How to put them in the best position to take advantage of current investment opportunities with today’s lending environment? What will the future hold? When will rates rise? Where will the buyer demand be focused for the end of 2011 and into 2012?

FAMILY: Kristen (Wife) Brooklyn (Daughter) HOBBIES: Playing Cards, Attending professional sporting events and concerts FAVORITE MOVIE OF 2010-2011: The Social Network PERSON YOU MOST ADMIRE CURRENTLY: Jason Brandemarti.

I have not personally met anyone who has experienced such a life changing event, and yet he still wakes up with a smile on his face and makes a difference in this world.

KEY TO YOUR SUCCESS IN 2011: Face to Face Meetings. Getting out of the office and having face to face meetings is the key. The next step is providing them with as much real time information as possible to help them make informed decisions in regards to their assets.

IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? The head coach of Cardinal O’Hara Boys Basketball Team.

Marcus & Millichap

Marcus & Millichap

CHRISTOPHER A. MUNLEY

REAL ESTATE INVESTMENT SERVICES

12B — June 24 - July 7, 2011 — Retail Profiles — Shopping Centers — Mid

Atlantic Real Estate Journal

MAREJournal.com

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MAREJournal.com

Mid Atlantic Real Estate Journal — Shopping Centers — Retail Profiles — June 24 - July 7, 2011 — 13B

RETAIL PROFILES HERKY POLLOCK EXECUTIVE VICE PRESIDENT AND NORTHEAST DIRECTOR

BRAD NATHANSON Brad Nathanson Senior Director Marcus & Millichap Real Estate Investment Services LOCATION: Philadelphia BIRTH PLACE AND DATE: Philadelphia, PA 1980 FAMILY: Engaged to Amber Traupman COLLEGE: University of Delaware FIRST JOB OUT OF COLLEGE: Analyst for Hedge Fund with SEI Investments FIRST JOB IN REAL ESTATE OR ALLIED FIELD: Current Job, Senior Director National Retail Group WHAT DO YOU DO NOW AND WHAT ARE YOU PLANNING FOR THE FUTURE: I focus on consulting private and institutional owners on the positioning and valuation of their retail assets to determine exit strategies for those assets. My plan is to further develop my team with the new additions of Andy Kaplin as well as Maureen Clifton.

HOBBIES: Coaching, Cooking, Running, Rowing, Biking, Donating my time to charitable endeavors through JFRE and NORC FAVORITE BOOK: The Wolf of Wall Street FAVORITE MOVIE: Gladiator PERSON YOU MOST ADMIRE (OUTSIDE OF FAMILY): Chuck Crawford, the head coach of men’s crew, at University of Delaware KEY TO YOUR SUCCESS: Rowing in High School and College.

Taught me the fundamentals how to be a champion through organization, teamwork, dedication, work ethic, and how to fight through challenges that are out of your control to be successful within your environment.

IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? Sports Coach

CB Richard Ellis

Marcus & Millichap Real Estate

SENIOR DIRECTOR

CURTIS NASSAU

PERRY S. GRABOIS

LEASING AGENT

Metro Commercial Real Estate, Inc.

The Goldstein Group

VICE PRESIDENT

Curtis Nassau Vice President The Goldstein Group LOCATION: 45 Eisenhower Drive, Paramus, NJ BIRTH PLACE AND DATE: Paramus, NJ, 10-6-67 FAMILY: Kimberly wife and 2 sons ages4 and 8 COLLEGE: Union College, Schenectady, NY FIRST JOB OUT OF COLLEGE: Family Business, Nassau’s Window Fashions, Paramus, NJ FIRST JOB IN REAL ESTATE OR ALLIED FIELD: The Goldstein Group, 2003 WHAT DO YOU DO NOW AND WHAT ARE YOU PLANNING FOR THE FUTURE: Having extensive real experience in site selection, market analysis and lease negotiation, I specialize in retail landlord and tenant representation.

HOBBIES: Sailing, hiking, bicycling and travel FAVORITE BOOK:C.S. Foster – Horatio Hornblower’s Flyting Colors & Hemingway’s A Farewell To Arms FAVORITE MOVIE: The Godfather, Raiders Of The Lost Ark, Goodfella’s & Patton PERSON YOU MOST ADMIRE (OUTSIDE OF FAMILY): Teddy Roosevelt KEY TO YOUR SUCCESS: Follow-through and honestly IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? Real Estate Development.

Herky Pollock Executive Vice President and Northeast Director of Retailer Services Group CB Richard Ellis LOCATION: 600 Grant Street, Ste. 1400 Pittsburgh, PA BIRTH PLACE AND DATE: Pittsburgh, PA – June 24, 1964 FAMILY: Two daughters, Madison & Gabrielle COLLEGE: Kenyon College FIRST JOB OUT OF COLLEGE: Worked to franchise a local restaurant concept FIRST JOB IN REAL ESTATE OR ALLIED FIELD: First City Company developing and leasing The Galleria in Pittsburgh.

WHAT DO YOU DO NOW AND WHAT ARE YOU PLANNING FOR THE FUTURE: I head up the retail group for CBRE in Pittsburgh and the Northeast and I have no plans to change. I also develop retail shopping centers HOBBIES: spending time with the family, travel, skiing, watching sporting events FAVORITE BOOK: Never Eat Alone FAVORITE MOVIE: Pulp Fiction PERSON YOU MOST ADMIRE (OUTSIDE OF FAMILY) Bill Gates as he changed the world and continues to do so with his priorities being in order. He gives so much back!

KEY TO YOUR SUCCESS: I deal with CEOs and the average worker with the same respect.

IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? Own a chain of restaurants

Perry S. GraBois Leasing Agent Metro Commercial Real Estate, Inc. LOCATION: 303 Fellowship Road, Suite 202, Mt. Laurel NJ BIRTH PLACE AND DATE: Philadelphia PA - 1969 FAMILY: Wife Monique and two sons COLLEGE: The Pennsylvania State University FIRST JOB OUT OF COLLEGE: Garrick-Aug Store Leasing Associates FIRST JOB IN REAL ESTATE OR ALLIED FIELD: Represented Chipotle Mexican Grill, Staples, Radio Shack, Anthony’s Coal Fired Pizza, The HomeMade Pizza Co., Ashley Furniture, Boardwalk Fresh Burgers & Fries amongst many other’s quality retailers.

WHAT DO YOU DO NOW AND WHAT ARE YOU PLANNING FOR THE FUTURE: Will expand Metro Commercial’s presence in Central and Northern New Jersey. Will continue to represent first-class national retailers as well as lease prominent shopping centers throughout the region. Completed transactions totaling over $300 million in value, and has valuable expertise in tenant representation and property marketing for both existing centers and new-construction properties.

HOBBIES: Boating, Skiing, Reading, & Motocross FAVORITE BOOK: Too many to name…

FAVORITE MOVIE: Wall Street PERSON YOU MOST ADMIRE (OUTSIDE OF FAMILY): Trammel Crow KEY TO YOUR SUCCESS (ONE IDEA) Persistence IF YOU WERE FORCED TO CHOOSE ANOTHER VOCATION WHAT WOULD IT BE? I love this business so much that I’m completely happy and can’t imagine doing anything else.

14B — June 24 - July 7, 2011 — Shopping Centers — Mid

Atlantic Real Estate Journal

MAREjournal.com

+

18 million square feet ARIZONA Mesa Kohl’s McKellips Road & Recker Road 95,279 SF GLA Part of Falcon View Plaza w/ Fry’s Phoenix Freestanding Barnes & Noble 1035 N. Metro Pkwy. West & 28th Dr. Adjacent to Metro Center Mall 19,360 SF on 1.48 Acres Tolleson Freestanding Kmart West McDowell Road & North 86th Drive 86,479 SF GLA FLORIDA Gainsville Mixed Use – Grocery Store & Student Housing NW 13th St & University Avenue 1.74 Acres Over 27,500 SF Ground Floor Retail in Proposed 171,000 SF 6-Story Residential Bldg Fern Park Lowe’s Shopping Center 6735 Hwy. 17-92 & Fernwood Blvd. near Hwy. 436 129,085 SF GLA Proposed Retail Strip: 9,000 SF ILLINOIS Downers Grove Marshall’s at The Grove 75th St. & Lemont Rd. 400,000 SF GLA Anchor Space Available 43,264 SF Niles Golf Glen Mart (Outparcel) Golf Rd. & Dee Rd. Up to 12,000 SF Outlot, B-T-S INDIANA Evansville Evansville Shopping Center Morgan Ave. & Boeke Rd. Rural King, Dollar General 153,000 SF GLA Indianapolis Pendleton Plaza Pendleton Pike & Shadeland Ave. Kmart 134,797 SF GLA South Bend South Bend Shopping Center US Hwy. 20 & US Hwy. 31 112,900 SF GLA Anchor Space Available

RD

Management LLC

MICHIGAN Grand Blanc Vacant Land Holly Rd. & I-75 22 Acres For Sale Muskegon Muskegon Shopping Center Henry St. & Norton Ave. 187,000 SF GLA Anchor Space Available Port Huron Port Huron Shopping Center Howard St. & 24th St. Big Lots, Save-A-Lot, Family Dollar 118,000 SF GLA Anchor Space & Outlot Available Redford Redford Plaza Plymouth Rd. & Inkster Rd. CVS/114,865 SF GLA Anchor Space Available Saginaw Saginaw Square Tittabawasse Rd. & Bay Rd. Target, JoAnn Etc., Staples 94,891 SF GLA Anchor Space Available Sandusky Kmart Shopping Center M-19 & Gates Rd. 176,248 SF GLA Anchor Space Available Southgate Fort St. & Burns Ave. 60,800 SF GLA Freestanding / Redevelopment Opportunity MINNESOTA St. Paul Midway Shopping Center University Ave. & Snelling Ave. Rainbow Foods, Office Max, Walgreens 280,353 SF GLA Anchor Space Available 40,262 SF NEVADA Las Vegas Kmart Plaza E. Sahara Ave. & McLeod Dr. 127,754 SF GLA 10,945 SF Outbldg. Available NEW JERSEY Marlton (Evesham) Tri-Towne Plaza Route 70 & Plymouth Dr. Superfresh/176,519 SF GLA Anchor Space Available/Redevelopment Opportunity

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

MAREjournal.com

Mid Atlantic Real Estate Journal — Shopping Centers — June 24 - July 7, 2011 — 15B

+

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

PENNSYLVANIA Allentown Home Depot Plaza Lehigh St. & Route 78 220,000 SF GLA 9.82 Acres Available

Orangetown Orangeburg Commons Route 303 & Palisades Parkway Future Retail Development Anchor Space, In-Line Space & Pads Available Adjacent to Lowe’s

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

NEW JERSEY Mt. Olive Pad Sites Available Adjacent to Foreign Trade Zone Across from Wal-Mart, Sam’s, TJ Maxx Old Bridge A & P Shopping Center Route 9 & Ferry Rd. 64,920 SF GLA Up to 4,000 SF Outlot Vineland Vineland Marketplace Delsea Dr. (Route 47) & College Dr. New Development 273,657 ± SF GLA / Outlots Available Williamstown Williamstown Shopping Center Black Horse Pike (Route 42) & Main St. CVS, Fashion Bug, Dollar General 85,000 SF GLA Anchor Space Available NEW YORK Deer Park Kohl’s Plaza Commack Rd. & Grand Blvd.

Kohl’s, Super Stop & Shop 182,875 SF GLA Proposed Pad 3,800 SF Glenville/Scotia (Albany) Freestanding Building Saratoga Rd. (Route 50) & Glenridge Rd. 128,485 SF GLA Anchor Space Available Holtsville Island 16 Cinemas Shopping Center Nicholls Rd. & Long Island Expwy.

National Amusements Theater, Chili’s 117,342 SF GLA Pad Bldg. Available with Drive-thru

Staten Island Lowe’s West Shore Center Veterans Rd. West (I-440) & Arthur Kill Rd. Pad Building Available 7,000 SF New Retail Bldg. Available 166,600 SF GLA Stony Point Stony Ridge Plaza Route 9W & Park Rd. US Post Office, Curves For Women 21,212 SF GLA Williamsburg (Brooklyn) North Side Piers Retail 20 North 5th St. & Kent Ave. Tower I: 181 Condos, 113 Apts. & 17,167 SF Retail Tower II: 250 Condos & 5,178 SF Specialty Rest.

OHIO Ashtabula Home Depot Plaza Route 20 (N. Ridge Rd.) & Orchard Rd. 130,000 SF GLA 18,440 SF Expansion & Pad Findlay Hobby Lobby Plaza Tiffin Ave. & Croy Dr. Hobby Lobby Anchor Space Available

Latham/Colonie (Albany) Kmart Shopping Center Route 7 & Swatling Rd. 118,863 SF GLA Up to 10,000 SF Outlot Available

Oregon (Toledo) Vacant Land – 4.645 Acres Dustin Rd. & Isaac Street Dr. 1 block south of Navarre Ave. (Rte. 2) & Kmart 116,805 SF GLA

Monroe/Woodbury Harriman Commons Routes 17 / 6 & Route 32 Wal-Mart, Home Depot, BJ’s, Target, Home Goods, Best Buy 687,716SF GLA Anchor Space & Outlots Available Future Phase III Office Bldg.

OREGON Salem Kmart Shopping Center Mission Street S. E. 116,866 SF GLA

RD

Management LLC

Trexlertown Trexlertown Marketplace Hamilton Blvd. (Route 222) & Mill Creek Rd. Walgreens, Panera Bread, Verizon 36,068 SF GLA TENNESSEE Hermitage (Nashville) Freestanding Bldg. adjacent to Jackson’s Courtyard Shopping Center 3445 Lebanon Pike 24,040 sf GLA 36,000 sf GLA Possible Redevelopment Texas Ft. Worth Westcliff Shopping Center Albertson’s Market, Dollar General Alton Rd. & Biddison St. 133,332 sf GLA VIRGINIA Richmond Food Lion Plaza Route 1 (Jefferson Davis Hwy.) & Chippenham Pkwy.

Outlots Available WEST VIRGINIA St. Albans St. Albans Center Route 60 & MacCorkle Ave. SW Kmart, Super Kroger, Peebles, CVS 230,000 SF GLA PUERTO RICO Arecibo Arecibo Towne Center Routes 2 & 22 Future Development Anchor Position & Outlots Available Ponce Reina del Sur; Outlots at Ponce Towne Center II Rtes. #2 & Baramaya Ave. (Rte. 10) @ PR-52 Wal-Mart SuperCenter, Home Depot New Development & Pads 525,000 ± SF GLA

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

16B — June 24 - July 7, 2011 — Shopping Centers — Mid

Atlantic Real Estate Journal

MAREjournal.com

SHOPPING CENTERS July 22nd, 2011 Shopping Centers Section Featured Spotlight Retailers Seeking Space & Space Available

Retailer Space Seeking Guide TENANT

LOCATION

TYPE OF SPACE

SIZE

# STORES

# OF PLANNED OVER NEXT 5 YEARS

CONTACT

Space Available Guide TENANT

LOCATION

TYPE OF SPACE

SIZE

# STORES

# OF PLANNED OVER NEXT 5 YEARS

CONTACT

Retailers are Expanding

Attention!!! Exclusive Retail Tenant Representatives- Are your retailers seeking new locations? Call or email today for details to advertise the specification/location requirements needed.

Retail Space Available

Attention!!! Retail Brokers- Do you have retail space avaialable that retailers are seeking for new locations? Call or email today for details to advertise these highly sought after spaces.

Elaine Fanning~Shopping Centers Section Publisher 1-800-584-1062 ext. 212 efanning@marejournal.com

MAREjournal.com

Mid Atlantic Real Estate Journal — Shopping Centers — June 24 - July 7, 2011 — 17B

SHOPPING CENTERS BUSINESS CARD DIRECTORY ATTORNEY

ATTORNEY

ARCHITECT

Scott C. Butler Neil A. Stein Andrew B. Cohn

Suite 310 LibertyView 457 Haddonfield Road Cherry Hill, NJ 08002 856-675-1550

910 Harvest Drive Blue Bell, PA 19422 610.260.6000 www.kaplaw.com

CIVIL ENGINEER/TRANSPORTATION PLANNER

GEOTECHNICAL CONSULTANT

LANDSCAPE ARCHITECT/CIVIL ENGINEER

PROPERTY MANAGEMENT/DEVELOPMENT

REAL ESTATE ACQUISITIONS

REAL ESTATE INVESTMENT SVCS.

Daniel Katz

P: 212.710.9362

F: 917.591.5497

E: DKATZ@KATZPROPERTIES.COM WWW.KATZPROPERTIES.COM

REALTY

REALTY This space could be yours Mail your business card to: Mid-Atlantic RE Journal c/o Elaine Fanning 312 Market Street, Rockland MA 02370 Two companies per issue will be chosen to receive a free BC Placement

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18B — June 24 - July 7, 2011 — Shopping Centers — Mid

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

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Mid Atlantic Real Estate Journal — Shopping Centers — June 24 - July 7, 2011 — 19B

RETAIL BROKERAGE DIRECTORY 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

Metro Commercial – Mt. Laurel, NJ 303 Fellowship Rd • Suite 202 • Mt. Laurel, NJ 08054 P: 856-866-1900 F: 856-866-1611 Brandon Anapol • Brent Barbehenn • Dan Brickner Rob Cooper • Mark Gerlach • Perry GraBois Tom Londres • Lauren McDermott • Pete Nicholson Kurt Rumley • Paul Rumley • George Wisnoski

Danny Brooker, Josh Feldman, Brandon Jenkins, Kirk Knight, Ed Laycox, Nathan Pealer, Rudolph Rueda, Peter Snell

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

Michael J. Fasano Marcus & Millichap 611 River Dr. • 4th Floor • Elmwood Park, NJ 07407 P: 201-582-1000 F: 201-582-1010 www.marcusmillichap.com

Metro Commercial - Center City 123 S. Broad St. • Suite 1835 Philadelphia, PA 19109 Michael Gorman • Steve Gartner

Urszula Zoltek,Seth Pollack, David E. Thurston, Michael Lombardi, Brian Schifilliti, Greg Babaian 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

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 Derrick Dougherty, Matt Gorman, Tom Gorman, Andy Kaplin, Jordan Muchnick, Chris Munley, Brad Nathanson, Michael Shover, Mark Taylor, Dean Zang

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20B — June 24 - July 7, 2011 — Shopping Centers — Mid

Michael Kercheval President & CEO ICSC

Peter Sharpe ICSC Chairman

Atlantic Real Estate Journal

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

PA/DE/S.NJ

Northern NJ State Directors PA/DE/S.NJ: State Director John-david W. Franklin Steven Gartner MadisonH.Marquette Metro Commercial Real DC/MD/N.VA: Estate Larry M. Spott, CDP The Rappaport Companies Government Relations Committee Chair S.VA: Michael A. F. Mozzachio Susan Jones GrubbDevelopment & Ellis Chancellor Group Government Relations Committee Chair Alliance Co-Chair PA/DE/S.NJ: Edward A. Shriver, Jr. Ed Kockman Strada Kochman Consulting Services Operations Co-Chair DC/MD/N.VA: Lynda E. Benedetto, Thomas C. Barbuti Whiteford, Taylor and SCSM Preston LLPCo. Kravco Simon

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Virginia Idea Exchange ~ Richmond, VA September 20-21st PA/NJ/DE Idea Exchange ~ Philadelphia, PA October 12-13th

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Mid Atlantic Real Estate Journal — Shopping Centers — June 24 - July 7, 2011 — Inside Back Cover B

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SEEKING RETAIL PROPERTIES IN THE NORTHEAST CORRIDOR

Kmart Plaza Chili, NY Acquired April 2011

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CONTRACTORS, OWNERS & MANAGERS

NJPA M A ID

TLANTIC

REAL ESTATE JOURNAL

Section C of the Mid Atlantic Real Estate Journal

Firm launches a year-long celebration of its 25th anniversary

JRS Architect, P.C. reaches Top 100 Giants for 8th straight year

M

INEOLA, NY — For the eighth consecutive year, Interior Design magazine honored JRS Architect, P.C., as one of the industry’s Top 100 Giants. The honor comes as the firm l a u n c h e s a John Sorrenti year-long celebration of its 25th

anniversary.

While looking at JRS’ complete portfolio, the magazine ranked the firm based on its interior design fees, the value of what it installed, the total square footage of its design work and its staff size. This year, JRS was ranked 67th among the top 100 architecture/ design firms nationwide.

The magazine also ranked JRS among its 2010 Healthcare Giants, honoring the firm for

JUNE 24 - JULY 7, 2011

HI-LIGHTS

the seventh straight year.

“We’re celebrating our 25th year because of our clients. We know, across the industry, fees were flat in 2010. Yet, we added new clients and continued some wonderful projects with long-term clients,” said John Sorrenti, FAIA, JRS’ president.

“Our clients trust us for an integrated, innovative approach to support both their architectural needs and their interior design requirements.”

Typical of this approach is the work JRS completed in the past year for The Mandell School, an independent school in New York. “We used our unique principle-driven design concept to help the school create a new kind of learning environment.

That work is really contributing to an improvement in education in America,” said Sorrenti, who

was recently named chair of the New York State Board of Architecture, the committee overseeing the profession’s licensing, education and practice issues.

JRS uses principle-driven design to support clients in banking, healthcare, retail, education and other industries. Last year, its staff of 35 developed more than three quarters of a million square feet of space.

According to Interior Design, the Top 100 Giants collectively grossed $2.2 billion in 2010, the same amount billed in 2009. While the fees were flat last year, the amount of space designed grew by 22%. The study found the Top 100 Giants designed more than 677 million square feet of space last year.

Among giants serving the healthcare design needs, JRS

earned the magazine’s 26th spot. That represents a 6-step improvement from the 2009 ranking, which listed JRS at 32nd out of 40.The improvement came as JRS, with offices here and in NYC and Princeton, NJ, continued building its healthcare portfolio. Projects included special procedure and oncology suites, bio-medical labs, imaging facilities and medical arts buildings. Clients in this arena include North Shore LIJ Hospital, Mount Sinai Hospital, New York Presbyterian Hospital, Columbia University and many others.

We stay on the list of giants,” said Sorrenti, “because we are continually adapting new ideas and technologies. We’re always looking at what would best serve our clients down the road.” ■

KSS Architects completes two For the creation of a new church In Hopewell, NJ projects in New York KSS Architects recently completed two projects that have strengthened the images of two renowned colleges at Cornell University.

See Page 4C.

Smith-Midland receives award from American Concrete Inst.

Smith-Midland Corporation was recently honored by the National Capital Chapter of the American Concrete Institute. See page 6C.

ALSO INSIDE:

BY RICHARD B. ST. MAUR III, COORDINATED PROJECT SOLUTIONS. LLC ............................2C PEOPLE ON THE MOVE .........................................................11C NJAA ORGANIZATION .........................................................12C MULTIFAMILY ................................................................. 12-15C IREM ORGANIZATION ............................................... 16-IBC-C Section C, 20 pages

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Bossart Builders receives national, state and local awards HOPEWELL, NJ — Bossart Builders, an independent dealer for Barden Church Building Services, was honored once again on a national, state and local level for the creation of St. Peters Lutheran Church on a commercial redevelopment property in Hopewell. The accolades were for Commercial Award of Excellence from the National Commercial Builders Council (NCBC) of the National Association of Home Builders (NAHB); Sales & Marketing Award (SAM) for Best Redevelopment of a Commercial Site from the New Jersey Builders Association (NJBA); and an Award of Excellence from the Community Builders & Remodelers Association of New Jersey (CBRA.) “We are proud of the recognitions from industry peers, but even prouder that congregations love our product and services,” states vice president and second generation builder Jason Bossart, who was just recently elected as president

Jason Bossart and Dave Bossart in the newly completed sanctuary of the award winning Princeton Presbyterian Church in Princeton. of the CBRA. “We work closely with our clients to create sanctuaries and facilities which perfectly reflect how they view and practice their faith. For some, it’s soaring gothic ceilings and elaborate stained glass windows, for others its

more modern state-of-the-art technology and design. Either way, we work side by side with our clients, even assisting them in creative financing and the approval process.”

One of the hallmarks of the St. Peters Lutheran Church is its eco-friendly construction through the use of Barden Building System’s Church Division’s pre-designed, panelized/ truss systems. Founder and president of Bossart Builders Dave Bossart explains, “Manufactured in a climate-controlled factory for the highest quality construction, this method also cuts waste, increasing the “green” envelope of the structure, and cuts construction time. The entry sidewalk is heated with tubes under the concrete for effortless snow removal and additional convenience and safety.”

Other key features of the church include a new sanctuary; classrooms; and a Chancel in a traditional design finished in a wall of stone. ■

C Inside Cover — June 24 - July 7, 2011 — Contractors, Owners & Managers — Mid

Atlantic Real Estate Journal

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JRS ARCHITECT, P.C. architecture | interior design | management

corporate education financial healthcare hospitality retail preservation

CELEBRATING

25 YEARS OF DESIGN EXCELLENCE

LONG ISLAND NEW YORK CITY PRINCETON | www.jrsarchitect.com

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Mid Atlantic Real Estate Journal — Contractors, Owners & Managers — June 24 - July 7, 2011 — 1C

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Atlantic Real Estate Journal

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MAREJ COM

By Richard B. St. Maur III

Alzheimer’s Care Facilities: What makes them so challenging he Need: The Boomers are coming, the Boomers are coming!

According to the U.S. Census Bureau, 78.2 million of our Senior Citizens are beginning to retire. Many independent Richard B. research St. Maur III studies indicate that while approximately 1 out of 4, at age 82, will suffer from some form of dementia, the number of those afflicted rises to about 1 out of 2 by the age of 86. Even the simplest of math indicates a need to care for more than 20 million folks over the course of the next few decades, so we know there is definitely a NEED! Present State: While 4,500 years ago, we had indications of the “Pharaoh’s forgetfulness”, it wasn’t until 1984 that the National Institute on Aging (NIA) decided to develop a research program that focused on the causes of Alzheimer’s Disease. In a relatively short period of time, there have been five drugs developed that sometimes give some temporary relief to some of those suffering from Alzheimer’s.

That doesn’t sound too promising: some relief to some…… sometimes! However on the bright side, there is now some serious progress being made in the areas of early detection for those who may be prone towards the disease. That leads the way to better strategies to delay or even avoid succumbing to Alzheimer’s disease.

The Challenge: Truly understanding the needs of an Alzheimer’s Care Facility, is extremely difficult for many

T

reasons. As an example, from a design standpoint, an Architect many times will tour an Assisted Living Facility, in a wheel chair. He can somewhat pretend that he is wheel chair bound. He can personally experience what works well and what needs to be improved, resulting in better design.

Unfortunately, there is just no way that he can pretend that he has Alzheimer’s disease.

That is why a majority of Independent Living and Assisted Living facilities are designed fairly well, and it’s also why most Alzheimer’s Care facilities miss the mark by miles.

The Missing Link: In order to provide the best possible care for the growing Alzheimer’s population, it is imperative to pursue ways to build a link between two different worlds: The world of the developer and his design team, building these ALZ facilities, and the world of those medical professionals studying the disease and learning about early detection, what advances the pharmaceutical industries are making and the newest philosophies and strategies in caring for those afflicted.

Those who find ways to create this missing link will reap huge rewards while making the world a better place for all: the residents and their families, the care givers, the management companies, and the investors.

The Solution: Through understanding and intense coordination of cutting edge philosophies of care giving and ongoing training of managers and caregivers, as well as clear communication of those needs to the developer’s design team, a far better place can be created in which residents can live, at

the same or lower cost than the average facility charges.

A monthly rental model eliminates the need to raise an initial “buy in” fee, from the sale of a home.

How it Works: Typically, the financial breakeven point is reached with 90% occupancy.

The bank or lending institution wants to see a developed proforma at 95% occupancy.

That 5% differential equates to the profit. With the properly coordinated program of design and management, the occupancy can be raised to 100% with a waiting list, resulting in double the profits of the average facility. Half of that additional profit is invested back into the community for continued on page 4C

Contractors, Owners & Managers 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 Joe Christman jchristman@marejournal.com

Section Editor Karen Vachon kjoy@marejournal.com

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Mid Atlantic Real Estate Journal — Contractors, Owners & Managers — June 24 - July 7, 2011 — 3C

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4C — June 24 - July 7, 2011 — Contractors, Owners & Managers — Mid

Atlantic Real Estate Journal

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KSS Architects completes two projects in New York

P

HILADELPHIA, PA — KSS Architects recently completed two projects that have strengthened the images of two renowned colleges at Cornell University: the School of Hotel Administration, where KSS converted a former theater fly tower into a multidisciplinary research and entrepreneurship center, and Cornell Law School, where KSS integrated advanced technology into a 1930s Collegiate Gothic moot courtroom.

Completed in spring 2010, the renovated and expanded Statler Hall Tower houses the School of Hotel Administra-

Cornell Tower Renovation photo credit: Halkin Photography LLC tion’s new Center for Hospi- trepreneurship and the Center tality Research, the Pillsbury for Real Estate Finance. The Institute for Hospitality En- Tower was KSS Architects’ second major project at SHA. The award-winning Beck Center, which opened in 2004, created a prominent and engaging educational and event space in Statler Hall.

The 14,000 s/f Tower renovation, considered by the university to represent the true completion of the Beck Center, won a Design Merit Award from the New Jersey chapter of The American Institute of Architects.

To create usable space in Statler Tower, whose existing 48-feet vertical clear space formerly stored theater sets, KSS raised the height of the structure and created five floor plates. Given the tower’s tight footprint, KSS also cantilevered several floors to gain more usable space and accommodate SHA’s ambitious program.

The solid stone exterior wall of the Tower was previously the first thing campus visitors saw upon entering Cornell University from the south. ■ Continuing the architectural

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Alzheimer’s Care Facilities: What . . . continued from page 2C ongoing research and development on the care side, ongoing up-to-date training of caregivers, as well as supporting the marketing efforts.

Bottom Line: With this approach, we can offer residency in a community that has been designed to provide Caregiver and Resident a better quality of life, at the same cost as the average competitor, while producing a net 50% higher return on investment to the investors.

Richard Benson St. Maur III is managing member of Coordinated Project Solutions. LLC. ■

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Mid Atlantic Real Estate Journal — Contractors, Owners & Managers — June 24 - July 7, 2011 — 5C

6C — June 24 - July 7, 2011 — Contractors, Owners & Managers — Mid

Atlantic Real Estate Journal

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MAREJ COM For work on University of MD Research Park Bldg.

Smith-Midland receives award from American Concrete Inst.

M

I D L A N D , VA — Smith-Midland Corporation was recently honored by the National Capital Chapter of the American Concrete Institute (ACI) as a winner in their 2011 Concrete Awards Competition. Smith-Midland was recognized for their involvement in the construction of the 120,000 s/f M Square II Office building located within the University of Maryland’s 124-acre M Square Research Park in College Park.

Smith-Midland provided 38,000 s/f (333 individual pieces) of architectural pre-

M Square II Office building cast panels for the M Square II building, which was designed to match the existing M Square I building, which Smith-Midland provided the

panels for two years ago. The building’s design is a threedimensional representation of the research activities that will occur inside. The scientific process is depicted as a “pristine cube” being pierced by an angled wall, with the collision symbolizing the “spark of ideas” that occurs during scientific endeavors.

The cube feature was incorporated into the precast concrete panels produced by Smith-Midland.

Ashley Smith, president and COO of Smith-Midland, said “This was a wonderful opportunity to be involved in a project that will ultimately contribute to the long-term growth of the College Park community.” M Square Research Park is a partnership with the University of Maryland and Corporate Office Properties Trust (COPT).

The architect for the project is Design Collective, Inc., and the general contractor is Whiting Turner, both out of Baltimore. ■

Schlouch prepares site for student housing complex BLANDON, PA — Schlouch Incorporated has been named

by Washington Development Associates, LLC to prepare a site for a four-story student housing facility at Washington and Susquehanna Streets in the City of Binghamton, Broome County, NY. The facility will have 127 units with 371 beds and is being developed by Newman Development Group, LLC. Schlouch is providing sediment/erosion control, sanitary and storm sewers, water line installation, roads, concrete, curbs and seeding.

Cory Ernst is Schlouch’s site coordinator and Marty “MJ” Weller III as project coordinator/estimator. ■

Contractors, Owners & Managers Spotlight

Building Facilities Maintenance

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Mid Atlantic Real Estate Journal — Contractors, Owners & Managers — June 24 - July 7, 2011 — C

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Atlantic Real Estate Journal — Contractors, Owners & Managers

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Building Facilities Maintenance BOMA New Jersey

O

POWER over POWER 2011

KNOWLEDGE IS POWER

n May 25th, BOMA NJ’s Energy and Environment Committee announced the winners of the First Annual BOMA NJ Building Energy Reduction Awards. This award can be proudly shared with tenants and building ownership. In addition to demonstrating good stewardship towards the environment, it will demonstrates that a property has reduced operating expenses — both of which will encourage positive tenant relationships and improve leasing opportunities. Judged by

an outside panel of professionals, there were three levels available to qualify in — First, Second and Third place — in the categories of Office, Industrial/Retail and Alternative Energy. There was also the “Past Performance Recognition Award,” for buildings that have demonstrated proven energy strategies for periods prior to 2010.

“We have the opportunity to make our globe better and we can do that collectively,” stated Commissioner Joseph L. Fiordaliso from the NJ

Board of Public Utilities who helped congratulate the award winners.

Recipients of the Building Energy Reduction Award The first place winner in the Office Category went to Munich Reinsurance for 555, 665, 675 and 685 College Rd., East, Princeton.

The first place winner of the Alternate Energy Award for 2010 was Hartz Mountain Industries for 355 Plaza Drive, Meadow-

BOMA NEW JERSEY The Building Owners and Managers Association of New Jersey The Building Owners and Managers Association (BOMA) of New Jersey is focused on providing the most comprehensive member benefits available in any trade association.

Why you should be here: BOMA provides excellent educational programs designed to provide both the seasoned professional and up and coming assistants with expert skills in appropriating resources and managing properties to maximize their value regardless of the economy, invaluable networking opportunities, monthly meetings and events, annual events, advocacy at the state and national levels, and International support.

Since its inception in 1984 more than 450 members have developed and perfected their professions through the resources BOMA New Jersey has to offer. Call now to receive your informational package on how you too can be on your way to become the real estate industry’s most desired and indispensible professional.

Building Owners & Managers Association of New Jersey 199 Prospect Avenue, PO Box 7250, North Arlington NJ 07031 Phone: 973-696-2914, Fax: 973-696-5634 Email: bomanj@ix.netcom.com Website: www.bomanj.org

lands Exposition Center.

Eight Recipients Receive the Past Performance Recognition Awards 1. Bergman Real Estate Group was recognized for past performance on its entire portfolio.

2. Boston Properties was recognized for the past performance at its One Tower Center Boulevard location in East Brunswick.

3. Hartz Mountain Industries is being recognized for the past performance of 5 of their properties: 15 Exchange Jersey City; 707 Broad Street, Newark; 200 Plaza Drive, Secaucus; 400 Plaza Drive, Secaucus; and 90 Hudson Street, Jersey City.

4. Grubb & Ellis was recognized for the past performance at 695 Route 46 Fairfield.

5. Mack Cali Realty Corporation was recognized for the past performance at three of their properties: 103 Carnegie Center, Princeton; 14 Commerce Drive, Cranford; and 5 Vaughn Drive, Princeton.

6.

Mountain Development was recognized for two of their properties: 100 Hamilton Plaza, Paterson and 1 Garret Mountain Plaza, Woodland Park.

7. Wells Real Estate was recognized for the energy saving strategies in their full NJ portfolio.

8. Wyndham Worldwide was recognized for the past performance at their corporate headquarters located at 22 Sylvan Way, Parsippany.

The members of the BOMA NJ Energy and Environment Committee, has opened the competition to members for next year. For additional information contact Marianne Carney at BOMA New Jersey 973-696-2914 or bomanj@ ix.netcom.com n

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Mid Atlantic Real Estate Journal — Contractors, Owners & Managers — June 24 - July 7, 2011 — C

Building Facilities Maintenance

By Steve Johns, PE, PLS and Alex Meitzler, PE, PTOE

T

he recent recession and economic climate have posed many challenges to the Consulting Engineering (CE) community. CE firms provide project planning and technical expertise to Steve Johns help clients complete the site and building systems design and obtain regulatory approvals for public and private land development projects and infrastructure improvements. CE firms work closely with the client to prepare coordinated designs and construction documents that meet project goals. Consulting engineers have had to make many adjustments and re-think the way they do business. These changes have covered a wide spectrum of issues, and have reshaped what is considered ‘business as usual’ in the consulting community.

Many firms have been forced to make reductions in staff due to decreased workload over the past few years. Letting go of talented staff due to lack of work is difficult for everyone involved, and firms have also lost their investment in the training and development of those let-go employees. The upside is that firms are now right-sized in regards to their staff and workloads, and are operating more efficiently than ever. CE firms have learned how to maximize the production capacity of their staffs, and technology continues to improve productivity. Employees have developed diverse skill sets, and are able to pitch in to help work within multiple disciplines and specialties.

Regardless of the health of the economy, obtaining the necessary regulatory approvals for the firms’ designs is still required. With the increasing public concerns about environmental impacts, preservation of open space, and traffic congestion, the approval processes for most projects continue to become more complex. Obtaining approvals can take a significant amount of time, and it is more important than ever to start the process as soon as possible.

Simple projects may only take one month to design, but obtaining the necessary approvals may take six to twelve months, and, depending on project par-

Consulting Engineering after The Recession

ticulars, larger projects can take well over a year. One of the issues impacting the approval process is constantly changing regulations. CE firms have to be vigilant to stay current with regulations Alex Meitzler and approval processes in order to properly advise clients and to set realistic expectations for approval timelines and costs.

In the Mid-Atlantic region, there have been many opportu-

nities for work supported by the federal government, including a significant amount of work related to BRAC. On the other hand, state and municipal projects have been severely limited by the recent economic conditions. Bridge projects have remained well funded, but many other roadway and infrastructure (sewer and water) projects have been shelved due to lack of funding. Private sector work is starting to show signs of revival, but is still sluggish. The downturn in the residential housing market is still impacting the market, although there is some growth in

industrial work, and a glimmer of growth in the institutional and commercial market.

CE firms are seeing slow but steady improvement in their business environment, and are looking forward to a more stable climate through the end of 2011. The impacts of the last recession have required the industry to adjust and become more flexible in a more competitive environment. While concerns still remain about the direction of the industry in regards to staffing, fees, and project funding, most CE firms are optimistic that workload will increase. CE firms will

continue to adapt in order to meet the constant change in the economic arena in which they work. More than ever, the most important criteria in selecting a CE firm are qualifications and experience. Selecting a firm that has experience with the type of project planned, and that knows the required regulatory process, will save time and money every time.

Stephen L. Johns, PE, PLS is VP of Engineering for of VanDemark and Lynch.

Thomas A. Meitzler, PE, PTOE is a Senior Transportation Engineer with VanDemark & Lynch. n

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Atlantic Real Estate Journal — Contractors, Owners & Managers

Building Facilities Maintenance

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Mid Atlantic Real Estate Journal — Contractors, Owners & Managers — June 24 - July 7, 2011 — 11C

PEOPLE ON THE MOVE ASAI AIP26-Koichi Yasuda Juror Award

Becker Morgan Group’s Williams receives recognition

T

O K Y O , J A PA N — Craig Williams of Becker Morgan Group was recently awarded the American Society of Architectural Illustrators (ASAI) AIP26-Koichi Yasuda Juror Award for his 3D illustration titled “Red.” This award places him within a prestigious group of professionals from around the world with a dedication to architectural illustration. Williams’ piece, one of the top six out of over 400 entries, will be showcased during the annual Architecture in Perspective exhibition at Pola Museum Ginza in Tokyo, Japan. In addition, Williams’ illustration titled “Hopper Remix” received the ASAI AIP25-Robert Greenstreet Juror award and is currently being featured on the national American Institute of Architects (AIA) website homepage at www. aia.org.

Williams combines over fifteen years of architectural rendering and 3D modeling

3D illustration titled “Red.” experience with the firm’s in-house graphic design department to provide clients with state-of-the-art presentation materials. 3D model and virtual design presentations provide effective visualization of a project and have proven beneficial as a discussion tool for clients during design team,

committee, and community presentations. In addition, the firm utilizes Revit Building Information Modeling (BIM) software and is currently designing the Ocean City, MD Convention Center expansion and the Lumberton, North Carolina Police Department Building utilizing Revit. ■

Precis Engineering adds Orner and Tang-Zierold to senior staff in Pennsylvania AMBLER, PA — Precis Engineering, Inc. has hired mechanical engineer Stanley Orner, PE, LEED AP, as project manager and Aileen F. Tang-Zierold as senior commissioning engineer.

Orner has provided project management and engineering design for specialized pharmaceutical and R & D mechanical systems and equipment, including cleanroom HVAC systems, hydronic and steam systems, and “clean” process utility systems. His pharmaceutical engineering work has included new system design and retrofits. He has also written risk assessments and commissioning test protocols for commissioning and qualification of clean utilities, and managed the system commissioning process. He was previously employed with CRB Engineers in Plymouth Meeting, Pa. “Stan has a strong background in HVAC system design

for pharmaceutical facilities and is well-versed in development of 2D and 3D systems modeling,” said Precis principal Larry Gadbois, PE. “He is capable of collaborating with clients and interdisciplinary project teammates alike while providing leadership that assures technical design quality, budget, and project schedule.”

Tang-Zierold brings over a decade of experience as a project design application engineer and HVAC systems designer to her role at Precis. She will add her knowledge of building automation design, mechanical and electrical equipment sequences and HVAC specifications to the Precis commissioning team. She was previously employed with Tristate HVAC in West Conshohocken.

“Aileen’s strengths in HVAC system design and building automation are essential qualities for commissioning critical facilities with complex me-

chanical and electrical systems,” said Gadbois. “Her technical and leadership skills will support Precis clients through the commissioning process of equipment startup, system calibration, and training.”

Stanley Orner holds a Bachelor of Science in Mechanical Engineering from the Pennsylvania State University, professional engineering registration in Pennsylvania, and LEED accreditation. He is a member of the International Society for Pharmaceutical Engineering (ISPE) and the American Society of Heating, Refrigeration, and Air-Conditioning Engineers (ASHRAE).

Tang-Zierold holds a Bachelor of Engineering in Mechanical Engineering from Stevens Institute of Technology. She is an associate member of ASHRAE, a lifetime member of Alpha Phi Omega, and an alumni member of Delta Phi Epsilon. She is fluent in Spanish. ■

Dunn Twiggar hires John Eastman as Vice President BETHLEHEM, PA — Dunn Twiggar Co., LLC and Dunn Twiggar Property Advisors, LLC (together called “Dunn Twiggar”) has hired John Eastman as aVP. In this position, Eastman will head Dunn

Twiggar’s commercial property management division. His responsibilities will include the management, budgeting and tenant and owner relations for the commercial properties managed by Dunn Twiggar, while

also overseeing the day-to-day operations of Dunn Twiggar’s property management division.

Eastman is a member IREM Accredited Commercial Manager certification program, DVGBC and IFMA. ■

To College of Fellows

American Institute of Architects elevate Murray WASHINGTON, DC — Robin L. Murray, FAIA, PP, LEED AP, of Trenton, NJ, was among 104 American Institute of Architects (AIA) members who were recently elevated to its prestigious College of Fellows. Murray, a member of AIA’s New Jersey chapter (AIA-NJ), was recently invested at a ceremony in New Orleans, La., during the 2011 AIA National Convention.

The honor, which entitles recipients to use the designation FAIA after their names, is awarded to architects for their individual achievements, as well as significant contributions to the profession and practice of architecture on the national level.

There are currently 2,700 fellows within the membership of 80,000, only 300 of them women.

“We are honored that a member of our chapter has received this recognition,” said Michael Hanrahan, AIA, president of AIA-NJ. “Robin’s elevation to fellow is well deserved. She has contributed countless hours to AIA-NJ in various leadership positions, has been an inspiration to her students and has worked tirelessly to promote the profession of architecture.”

Murray, principal of rlm architect, was the only architect in New Jersey to be distinguished with the honor of fellowship this year, and was selected to receive the honor because of her professional and volunteer leadership in sustainability, smart growth and livable communities.

Her practice, which is primarily focused in Mercer County, N.J., but stretches to northern New Jersey and Pennsylvania, specializes in sustainable master planning, smart growth and high-tech facilities.

“It’s an honor to be recognized as a fellow of the AIA,” said Murray. “As much time and effort as I’ve dedicated to the AIA over the years, I’ve received more back. I wouldn’t be where I am today if it weren’t for the AIA and AIA-NJ.” Murray could be described as a revolutionary. In addition to her architectural work, she has been a driving force for women in architecture for more than 30 years.

At the time she entered the profession, only two percent of architects were women.

Today, with the help of archi-

tects such as Robin Murray, women represent about 12 percent of the 80,000 architects in the country, said Hanrahan.

“Growing up, I knew I wanted a career,” said Murray. “And when I took an architecture course in eighth grade, I knew I wanted that career to be in architecture, despite the fact that I had never met a female architect -- at least, not until after I graduated from Cornell University. That’s why I’ve always made an effort to encourage and help women who are interested in architecture, and to show them that we do exist.”

Murray participated in career days for over 20 years, has mentored women throughout her career. She was president of AIA-NJ in 2000, becoming only the second woman to hold the position in 105 years.

She also served as regional director of AIA-NJ and is currently the president of the tristate Delaware Valley Smart Growth Alliance, a coalition of government, private and non-profit organizations that helps good smart growth projects gain local approvals.

Professionally, in the past year Murray participated in a brownfield remediation for a new park facility in Trenton, in which her firm designed the renovation of a 1900s-era industrial manufacturing building into a new recreational facility.

In 2002, she created the master plan for Garden State Park, a downtown redevelopment project in Cherry Hill, N.J. The plan involved the revitalization of a former racetrack into a new town center with 1,200 housing units, retail and civic uses and 1 million square feet of commercial space.

Murray has also designed eight Panera Bread restaurants throughout the state, two of which won awards.

Murray’s work has been recognized with awards and published nationally by the Urban Land Institute and the American Planning Association. She has taught architecture, urban design and planning at both Rutgers University and the New Jersey Institute of Technology.

She is also a former deputy executive director of the Office of Smart Growth, a division of the N.J. Department of Community Affairs. ■

12C — June 24 - July 7, 2011 — Contractors, Owners & Managers — Mid

Atlantic Real Estate Journal

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MULTIFAMILY New Jersey Apartment Association Advance & protect the welfare of the apartment industry in NJ President Jeff Smith, Kriegman & Smith

Regional VP North Jersey Brent Kohere, Home Properties

Regional VP Central William Dailey,CPM CIS Management Inc.

Regional VP South Joe Spadaccini The Kamson Corporation

VP Associate Affairs Ray Fiorica AFR Furniture Rentals

Legislation VP Michael C. Haydinger First Montgomery Group, AMO

Treasurer Lynne Aber Bertram Associates

Secretary Stephen Waters Morgan Properties

DEP COMPLIANCE REMINDER: NEW NJ FERTILIZER LAW NOW IN EFFECT TRENTON, NJ — With many people turning their thoughts to spring gardening, Department of Environmental Protection Commissioner Bob Martin today reminded residents to be mindful of the environment when applying lawn fertilizers and to obey a new law Governor Christie recently signed to protect New Jersey’s waterways from misapplication of these products.

“New Jersey’s new fertilizer law, the toughest in the nation, provides the framework for growing a healthy lawn while reducing pollution to our waterways. Earth Week is a perfect time to begin thinking more carefully about how we use fertilizers,” Commissioner Martin said. “Taking greater care in how we apply them is one of the simplest things we can do to make a huge difference in protecting our environment.

“No doubt a green and healthy lawn gives many of us a great sense of pride and accomplishment,” Commissioner Martin added. “But many people tend to overuse fertilizers or apply them sloppily, leading to degraded water quality from too many nutrients being carried with stormwater runoff into our streams, lakes, rivers and bays.’’

Governor Christie signed the legislation earlier this year as part of a three-bill initiative to improve water quality across New Jersey and, in particular, for the ecologically stressed Barnegat Bay, which has been hard hit by excessive nutrient pollution. The new law effectively replaces a patchwork of local ordinances that have had varying standards.

The law requires consumers to follow best management practices when using fertilizers; sets a requirement for creation of a certification program for lawn care providers; and ultimately requires manufacturers to reformulate fertilizers to decrease the total amount of nitrogen in their products and increase the amount of slow-release nitrogen they contain. In addition, the law prohibits use of phosphorous in fertilizer for turf unless a soil test indicates it is needed.

The first phase of the law went into effect immediately with the signing of the legislation on Jan. 5, and requires the use of best management practices to reduce the impacts of fertilizers on waterways. Specifically: Consumers may not apply lawn fertilizers from Nov. 15 through March; professionals may not apply them from Dec. 1 through March 1.

Fertilizer application is banned during winter months or when the ground remains frozen.

Fertilizer application is prohibited during - or just before - heavy rainfall.

Fertilizers may not be applied within 25 feet of any water body except when applied in a way that will limit their outward spread to 10 feet, such as with a drop spreader, targeted spray or rotary spreader equipped with a deflector.

Consumers and professionals must limit the amount of nitrogen they apply per application as well as during the course of the year.

“In general, if you follow label directions regarding application rates and frequency of applications you should be able to comply with the intent of the law,” said Barry Chalofsky, Chief of the DEP’s Bureau of Nonpoint Pollution Control. “Also take a few extra minutes to sweep up stray granules of fertilizer from pavement.”

Additional components of the law will be phased in over the next two years. Beginning Jan. 5, 2012, all professional applicators will be required to become certified through the New Jersey Agricultural Experiment Station at Rutgers University. Rutgers is developing the program in consultation with the DEP’s Healthy Lawns, Healthy Water work group, which includes the lawn care industry, environmental community, fertilizer industry and academic community.

By Jan. 5, 2013 all fertilizer products sold in New Jersey for turf must contain at least 20 percent slow-release nitrogen, , a requirement that will allow grass to more naturally absorb nitrogen and minimize impacts to waterways. Manufacturers are already making low- and zero-phosphorous fertilizers available to consumers in New Jersey through an agreement with the DEP. Nitrogen and phosphorus are nutrients required for plant growth. A limited amount of these nutrients is important for healthy plant life. Too much, however, can actually harm lawns and, when washed into waterways by rainfall, stimulates excessive algae and weed growth that depletes dissolved oxygen in the water and reduces the sunlight needed for healthy aquatic life. Not only is this unhealthy for fish and other aquatic life, it is unsightly and degrades the recreational value of waterways.

The law does not establish state fines for consumers but municipalities have the discretion to set penalties. The law allows the state to fine professional applicators up to $500 for the first offense or $1,000 for a second offense beginning next year. For details on the law and tips on eco-friendly lawn care, visit: http://www.nj.gov/dep/healthylawnshealthywater/

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Mid Atlantic Real Estate Journal — Contractors, Owners & Managers — June 24 - July 7, 2011 — 13C

MULTIFAMILY Brecher also handles $7.4m sale of 92 units at Park Avenue Apartments in Bensalem, PA

Gebroe-Hammer Associates reps seller and buyer in $15.5 million sale of Hamilton Court East ENSALEM, PA — In a Philadelphia multifamily market characterized by stability, a scarcity of distress and aggressive pricing, Gebroe-Hammer Associates has closed the $15.5 million sale of 192 units at Hamilton Court East. Joseph Brecher, an executive vice president with the firm, represented the seller, 3455 East Real Estate Trust, and procured the buyer, a private investor and long-time GebroeHammer client.

This latest transaction follows Brecher’s recent $7.4-million sale of 92 units at Park Avenue Apartments, located near Hamilton Court East, at 1900 Park Ave. The suburban township borders the northeast section of Philadelphia.

“The Philadelphia economy continues to stabilize, positively affecting the surrounding apartment investment market,” said Brecher. “Citywide, and throughout the suburbs, occupancy rates are approximately 95 percent, resulting

B

Hamilton Court East

in heightened competition for well-occupied multi-family properties. There have been an increased number of trades in the garden apartment as well as mid-to-hi-rise asset category in recent months.”

In the Park Avenue Apartments transaction, Brecher once again represented the seller and procured the buyer.

Conveniently located near I-95, I-25 and public transportation, the complex has recently undergone upgrades to all kitchens and bathrooms and balconies have been redone.

According to Gebroe-Ham-

mer Associates, average rents for the area are $985 and $1,145 for one- and two-bedroom units, respectively.

“Like many metro centers, Philadelphia’s work-in-progress recovery has strengthened the tenant pool. Multi-family investments are on solid footing and there are very few distressed properties that have come, or are expected to come, to market. Conditions, from rent appreciation to property pricing, are expected to remain dynamic over the course of the next few years,” said Ken Uranowitz, managing director. ■

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14C — June 24 - July 7, 2011 — Contractors, Owners & Managers — Mid

Atlantic Real Estate Journal

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MULTIFAMILY Allen West Estates/Brookside Park Apartments

At four apartment communities

Dietrick Group, LLC facilitates $6.2m acquisition

The Galman Group introduces solar hot water

A

LLENTOWN, PA — Dietrick Group’s Ryan Dietrick is sole participating agent in the June 1, 2011 acquisition of Allen West Estates/Brookside Park Apartments, 38 town homes and 48 garden style apartments on ±5.39 acres located in Lower Macungie Township, Lehigh County. The purchase also included a storage garage and equipment.

The transaction between seller and buyer, Brookside Park Realty LLC, had an aggregate value of $6.2 million.

Dietrick Group, LLC is a Lehigh Valley, PA based full service real estate advisory company specializing in commercial and residential sales/ leasing, commercial appraisal

Allen West Estates/Brookside Park Apartments and property management ing our clients in making the throughout the greater Allen- best possible decisions when town, Bethlehem and Easton it comes to their real estate area. We take pride in assist- matters. ■

Pennrose Properties receives top honors PHILADELPHIA, PA — Pennrose Properties, a real estate firm that has developed properties throughout Pennsylvania, New Jersey, New York, Ohio, Maryland, Alabama and Tennessee for more than 30 years, has been awarded top honors by two different organizations.

The Affordable Housing Tax Credit Coalition (AHTCC) recently announced the winners of the 17th Annual Charles L. Edson Tax Credit Excellence Awards. This national awards program celebrates the best in affordable rental housing development.

The Mary Taylor House in West Chester, Pennsylvania was top winner in the “Senior Housing” category. The building, which opened this spring, represents a unique opportunity to offer affordable housing in the midst of a vibrant, thriving community.

Located within three blocks of downtown West Chester, Mary Taylor House residents are well within walking distance of a wide range of shops, churches, banks, restaurants, pharmacies, and community serving facilities such as the Public Library and Chester County Hospital.

The company’s Obery Court property in Annapolis, Maryland was honored as runner up in the category of “Public Housing Revitalization.”

Obery Court is a newly constructed development located a few blocks from downtown.

Residents have access to everything the City of Annapolis has to offer, from local shopping and grocery to community centers and access to the harbor and downtown area. Obery Court offers both apartment and town home-style options.

Residents not only enjoy modern amenities, but gorgeous

landscaping, a playground, and plenty of space to gather together as a community in the spacious community center.

Pennrose Properties is being recognized at a Capitol Hill luncheon ceremony in May. On another note, Pennrose Properties also won other top honors, as Affordable Housing Finance Magazine recently awarded them two top spots in a recent ranking. The company was honored to receive the 4th Largest Developer, as well as the 25th Largest Owner of Affordable Housing for the Country in 2010.

“We are both honored and thrilled to receive these wonderful accolades from the real estate and housing community,” said Mark Dambly, president of Pennrose Properties.

“We are dedicated to providing a diverse range of housing opportunities as we continue to grow our portfolio.” ■

Crime declines 30% at Franklin Park Apartments in Greenbelt, MD under Fieldstone ownership GREENBELT, MD — Since taking over the ownership and management of one of the East Coast’s largest rental apartment communities last year, Fieldstone Properties has worked closely with local authorities to reduce crime by over 30 percent, including an 11 percent reduction in the

first quarter of 2011. Franklin Park at Greenbelt Station is located in Prince George’s Count, just outside Washington, D.C. and has 2,877 rental apartments and townhomes.

“Fieldstone Properties and the Greenbelt Police Department share a robust partnership in providing a safe place

to reside,” said Greenbelt Police Chief Jim Craze. “Overall crime at Franklin Park is down 11% in the first quarter of 2011, with a remarkable reduction of 50 percent in robbery.”

“The future is bright.” Chief Craze added. “From every indication, further reductions can be expected.” ■

RCP Management Company handles property and financial management for Northgate West Condominium Owners Assn.

ANNANDALE, NJ — RCP Management Company announced that they have been awarded the property and financial management of North-

gate West Condominium Owners Association, Inc. It boasts 153 beautiful towhomes and a golf course that runs through the community. Northgate West

joins RCP’s Princeton Region’s portfolio. Regional Supervisor, Debbie Nicholson, CMCA, AMS, PCAM, is the portfolio manager. ■

Shown from left The Galman Group: Brian Paule, Sam Goldstein, Elisha Wolstenholme, Jerry Slipakoff. Rushforth Solar: Alan and Jan Marie Rushforth.

JENKINTOWN, PA — The to as hot as 140 degrees (which Galman Group has completed is the maximum temperature installation of solar hot water set point). Although the syssystems at two properties, tem is functional year round, with another in process, and on colder, cloudier weeks the solar pool heating at The Plaza preheat temperature is lower.

Apartments.

Freeze protection is via the The Plaza Apartments, lo- ‘drainback’ design, where durcated at 1250 Greenwood Ave. ing non-sunny periods the wain Jenkintown is utilizing solar ter in the collectors drains-back panels in their swimming pool into the insulated tank. system.

Over the last year, data moniThey have installed eleven 4’ toring indicated that the Rose x 14’ Aquatherm unglazed plas- Court solar system has supplied tic solar heating panels. These 53.7% of the energy needed to panels are also called “collec- heat an average of over 1200 tors” as they collect heat from gallons per day of hot water the sun. No tank is involved as for the 36 unit building. CO2 the solar heat collected is trans- emission reductions created by ferred directly to the pool water the solar installation combined via the existing pool pump sys- with a new high efficiency hot tem. The system is designed to water heater are estimated at raise the pool temperature up 18.6 tons per year, equivalent to 10 to 15 degrees using energy to removing approximately 3.8 from the sun. Each Fall the sys- cars or light trucks from the tem is drained when the pool road. is winterized. This particular The data monitoring for Westsystem is unusual in that it is field Apartments indicates that mounted on a CURVED custom the solar system has supplied built rack, following the curved 40.1% of the energy needed to lines of the circular pool at The heat an average of over 2000 Plaza. gallons per day of hot water Rose Court Apartments, lo- for the 52 unit building. CO2 cated at 144 W. Allens Lane emission reductions created by in Philadelphia and West- the solar installation combined field Apartments at 2237 Bryn with a new high efficiency hot Mawr Ave. also in Philadelphia, water heater are estimated at both have a Solar Domestic 22.3 tons per year, equivalent Hot Water preheat system that to removing approximately 4.5 operates year round. These cars or light trucks from the systems have solar hot water road. panels on the roof that are A newly acquired Galman glazed with tempered glass. property, RidgeView ApartEach system has a super- insu- ments, located at 6725 Ridge lated solar storage gallon tank Avenue in Roxborough will in the basement. Up to 78% of have one of the largest apartthe sunlight that hits the roof ment building solar hot water top collectors is converted into system we know of in the Philaheat that is transferred ( via delphia region. This solar hot pumped water) into the base- water system is just part of a ment solar tank. Incoming cold extensive renovation which has water runs through immersed been recently completed. heat exchangers in the solar All of The Galman Group’s tank and gets pre-heated in solar hot water and solar heatthe process. ing projects have been designed On hot summer weeks, the and installed by Rushforth Sun can heat the cold water up Solar LLC. ■

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16C — June 24 - July 7, 2011 — Contractors, Owners & Managers — Mid

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Mid Atlantic Real Estate Journal — Contractors, Owners & Managers — June 27 - July 4, 2011 — Inside Back Cover C

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C Back Cover — June 24 - July 7, 2011 — Contractors, Owners & Managers — Mid

Atlantic Real Estate Journal

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Mid Atlantic Real Estate Journal â&#x20AC;&#x201D; June 24 - July 7, 2011

Caren S. Franzini

Michele T. Tantalla

Mark Warner

James V. Mascaro

Jeanne Schubert Barnum

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$ D Inside Cover — June 24 - July 7, 2011 — Green Buildings — Mid

Atlantic Real Estate Journal

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Mid Atlantic Real Estate Journal — Green Buildings — June 24 - July 7, 2011 — 1D

GREEN BUILDINGS

2D — June 24 - July 7, 2011 — Green Buildings — Mid

Atlantic Real Estate Journal

MAREjournal.com

MAREJ GREEN BUILDINGS

Mid Atlantic Real Estate Journal

By Dennis A. Scardilli, Esq., P.P., MAI

July 9 issue

The Law of Green Building Appraisal

Green Buildings All companies are welcome to submit articles related to environmentally safe options for their buildings.

Suggestions include: • How to create an environmentally safe Building?

• Why is it important to make a building healthy • What could happen to tenants working in an unhealthy environment?

• New Green Products and Services for Developers and Contractors

L

ast week’s Green Building Summit in Trenton NJ, sponsored by the Mid-Atlantic Real Estate Journal was an eye-opener for me and other real estate professionals.

With all the b u z z a b o u t Dennis Scardilli green buildings/solar/energy efficient/sustainable development (let’s just call it “Green Buildings”), many of us have actually started to think about deal-making, again. This new “Green” product is coming online and the first thing on our mind is “do the numbers work so that I can make some money on it?”

That question raises the issue of whether the current “Green Buildings” world has developed a rational, understandable economic interface with the general real estate market. The Green Building Summit answered that question with it with a strong “it’s a work in progress”.

And, that’s a good thing. Because it’s real world.

The work in progress involves the question that I raised to several presenters on there is presently the methodology and data available for a reasonable valuation analysis of a Green Building. The answers indicated that there is recognition of the need for an accepted valuation methodology and that the data is evolving. Further that buyers and sellers and lenders need both methodology and market data for deal making and decision-making.

When I bring this issue to

my colleagues in law, appraisal and planning, the response is usually an “ah ha” moment.

The presenters at the summit the not need that moment.

They understand that the nature of Green Buildings is more complex than “non—green buildings”. Because of their higher degree of technical complexity, Green Buildings call for inputs from various real estate-related disciplines into an overall economically rational valuation model. From that general model, different models evolve for different types of properties. Marketbased creation and acceptance of such economically rational valuation models is the key to the development, financing and the sustainability (pun intended) of Green Buildings beyond mandates and subsidies.

We are entering a new phase of our nation’s, and the world’s, history. Savvy real estate professionals understand that the issue is not whether you believe in climate change. The issue is that there appears to be some degree of market demand for this product due to the current spike, and long-term anticipated instability in energy costs.

Now, it’s up to us to take it to the next level. Whether you are into sustainability or you sing ”drill baby, drill”, we all know that the U.S. initially got into hock by shipping boatloads of our greenbacks to oil producing nations.

The current state of Green Buildings creates the potential for a huge amount of marketbased demand springing from this current R&D phase. As one presenter put it, “LEED certification is redefining Class A buildings”. This paradigm

shift creates the potential for a lot of money on the table, over the long-term. The key issue is whether Green Buildings are able to “grow the economic pie”, as has been suggested.

The people of the real estate industry have always been the “grunts in the trenches”. We have always succeeded in figuring out how to move from old to new ideas, from old economic models to new ones. Think about: William Penn, L’Enfant and their “radical” urban plans; the real estate speculators from Philly ran a railroad to the sand bar that is now called Atlantic City; William Levitt created housing for veterans and their continued on page 12D

Green Awareness 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

MAREjournal.com

Section Publisher Joe Christman jchristman@marejournal.com

Publisher Dianna Mallozzi dmallozzi@marejournal.com

Section Editor Karen Vachon kjoy@marejournal.com

Deadline: June 27, 2011 Special Marketing opportunity For more information e-mail Joe Christman jchristman@marejournal.com or call 781-871-5298 800-584-1062 ext 202

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Mid Atlantic Real Estate Journal — Green Buildings — June 24 - July 7, 2011 — 3D

3RD GREEN BUILDINGS SUMMIT - 2011

By E. Mitchell Swann, P.E., LEED AP, MDC Systems

Risk Considerations in Green Buildings

S

ustainable, high performance or ‘green’ design offers an opportunity to significantly improve upon the performance of buildings from both an external environmental footprint and an internal E. Mitchell Swann environmental perspective.

The potential for improvement is large, but the expectations may be even larger. The industry has taken to the US Green Building Council’s “Leadership in Energy and Environmental Design” rating system as the benchmark for green building evaluation and certification.

In the marketplace a LEED certification for your building can be valuable. At the end of the day, designing, building and operating green buildings has a primary objective – better performance. The evaluation of that performance can have some fuzzy edges and it is at those edges that risk can accumulate…and it is at those edges that risk should be addressed.

Green building risk can

come in two columns – certification risk and performance risk. And it can occur in the design, construction and/or operations portion of a project’s execution. Certification risk has two primary flavors – failure to achieve certification1 – either completely or within a ‘reasonable’ time frame and having project get certified at a level lower than targeted or expected. Either situation can have negative impacts on the value of the finished project. Performance failure is much simpler – a building could simply not perform as

well as predicted or intended.

This can obviously impact the ongoing operating costs. While certification failure is typically either a design/documentation issue or construction execution issue, performance failure may be attributable to any or all of the 3 common elements of project execution.

Given the huge impact that either performance or certification shortfalls or failures can have, it is important to establish clear and reasonable certification objectives and performance targets; develop sound criteria for both ex-

ecution and evaluation of the finished project and a sensible and fair process to address and resolve any performance hiccups or overcome certification obstacles. Monitoring, measurement and verification processes and protocols need to be established early on to ensure that all parties concerned understand how success – in this instance, sustainability – will be measured and evaluated. A thorough understanding of critical operational and maintenance needs can make sustainability happen. A clear definition of expectations and

intent can help to reduce the likelihood of downstream misunderstandings which can lead to underperforming projects, dissatisfaction and disputes.

11 For US Green Building Council LEED projects, the building certification is done by the Green Building Certification Institute (GBCI) - a third party entity established by the USGBC to facilitate the certification process and the accreditation of LEED professionals.

E. Mitchell Swann is a partner at MDC Systems. ■

MDCSystems®

Providing Expert Project Delivery Solutions Worldwide MDC Systems is a project and construction management consultancy with over 40 years of experience serving a wide array of clients and industries both nationally and around the globe.

High Associates Ltd. achieves Green Plus recognition LANCASTER, PA— High Associates Ltd. has achieved the Institute for Sustainable Development’s highest level of recognition, Green Plus certification. The Green Plus program recognizes dedication to triple-bottom-line sustainability by measuring business, environmental, and community practices.

“High Associates has always maintained a high level of sensitivity to the environments in which we operate and has been guided by a smart-growthdriven approach to real estate development,” said Mark Fitzgerald, president and chief operating officer of High Associates. “Going through the Green Plus Certification process was invaluable, as it helped us to expand our triple-bottom-line approach to sustainability – an approach that includes fostering a positive work environment, being responsible environmental stewards, and bettering our community for the generations that follow,” Fitzgerald said. ■

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Project Monitoring Schedule Compliance Resource Utilization Cash Flow & “Burn rate” projections

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4D — June 24 - July 7, 2011 — Green Buildings — Mid

Atlantic Real Estate Journal

MAREjournal.com

3RD GREEN BUILDINGS SUMMIT - 2011 Tishman Construction plays Key Role on Owner/Developer/Architect/Engineer Team

Bank of America Tower at One Bryant Park achieves LEED Platinum rating

One Bryant Park

+ Fox, and built by Tishman Construction Corporation.

As one of the world’s leading builders, Tishman is known for successfully managing the complexities of sustainable construction, as well as for innovative approaches to building.

Tishman had to meet several extraordinary challenges as it constructed the 2.1 million s/f skyscraper.

“This is a great milestone for New York City, for The Durst Organization, for our partner Bank of America, and for sustainable design and construction,” said Douglas Durst, co-president of The

Durst Organization. “With its energy-efficient co-gen plant, its ice storage capabilities, its graywater- and stormwaterretention systems, and other sustainable features, this is a groundbreaking achievement of which we can all be proud. We thank Tishman Construction for advising on constructability issues early in the process, for always finding a way to resolve sustainable building problems efficiently, and for diligently ensuring that LEED Platinum standards were met throughout the construction process.”

“We are gratified that Durst and Bank of America chose

Tishman is the Leader in Green Building We have completed or are building more than 50 million square feet of sustainable projects for clients.

1 World Trade Center, New York, NY Pursuing LEED® Gold

One Bryant Park, New York, NY LEED® Platinum Certified

CityCenter, Las Vegas, NV Six LEED® Gold Certifications

Tishman to manage construction of this complex, pace-setting LEED-Platinum tower,” said Daniel Tishman, Chairman and CEO of Tishman Construction Corporation and Chairman of the Natural Resources Defense Council.

Introducing New Ways of Building to Achieve LEED Platinum One Bryant Park, which is two-thirds occupied by Bank of America, is a striking crystalline tower located at the corner of Sixth Avenue and West 42nd Street in midtown Manhattan. Built into the podium of the building is Henry Miller’s Theatre, recently renamed the Stephen Sondheim Theatre, a 1,055-seat Broadway playhouse and New York City’s first “green theater”. It was designed and built to LEED Gold standards.

Tishman assisted The Durst Organization and Bank of America in achieving a LEED Platinum rating for the new skyscraper. Below is a partial list of steps: • Teaching subcontractors green building methods: • Tishman made sure subcontractors had absolute clarity about the building’s green specifications in the bid phase.

This strategy brought bids in at more competitive rates because subcontractors didn’t have to “leave an allowance” in the numbers to cover green challenges they weren’t familiar with.

• Tishman made sure subcontractors were aware of the difference between the LEED specifications for materials fabricated offsite and materials used onsite (paints, glues, etc.) because the criteria for offsite materials are lower. Materials used in the shop cannot necessarily be used in the field.

• Selecting green materials: Tishman required early submission of green materials so they could be approved concurrently by both the architect and the LEED expert. This strategy saved time and money.

• Protecting indoor air quality: • Tishman personnel implemented an Indoor Air Quality (IAQ) plan during construction so that workers had fresh air and ventilation in every area of the building during every phase of the project.

• Tishman ensured that subcontractors shielded both ends continued on page 12D

Tishman

N

EW YORK, NY — One Bryant Park LLC, comprised of owners The Durst Organization and Bank of America, N.A., has achieved the U.S. Green Building Council’s highest LEED certification – Platinum – for the core and shell (essentially the entire building excluding interiors) of the Bank of America Tower at One Bryant Park. The 55story office building – the first in the world designed and constructed to LEED (Leadership in Energy and Environmental Design) Platinum standards – was developed by The Durst Organization, designed by Cook

U.S. FDA Building 66, White Oak, MD American Pharmacists, Washington, DC Pa. Convention Center Expansion, LEED® Gold Certified LEED® Gold Certified Philadelphia, PA, Pursuing LEED® Gold

Tishman Construction Offices Worldwide www.tishmanconstruction.com

MAREjournal.com

Mid Atlantic Real Estate Journal — Green Buildings — June 24 - July 7, 2011 — 5D

3RD GREEN BUILDINGS SUMMIT-2011 SPONSORS

The Sun Farm Network is a full service project development firm, providing customized solar electricity solutions to the Mid-Atlantic region. Our passion is making solar electricity affordable – an investment grade proposition that is both easy and compelling. We recognize that the biggest barriers to solar adoption are financial, and we are market leaders in solving those problems for our customers. Unlike many vendors that have just gotten into the business or dabble in renewable energy as a sideline, solar is all we do. Our team of in-house experts are a one-stop source for a well integrated solar solution. We are directly responsible to our customers for all aspects of their project.

Established in 1936, Connell Foley LLP has distinguished itself from its competitors by delivering the personal service of a boutique law firm combined with the deep resources of a larger firm. This winning combination has enabled us to attain an enviable record of achievement in litigation, corporate law, and a broad range of areas of specialization. Our lawyers are organized into distinct practice groups, including litigation, alternative dispute resolution, construction, insurance, corporate law, business crimes and regulatory defense, professional liability, intellectual property, toxic torts and environmental law, taxation and estate planning, real estate law, land use, employment, labor and immigration law, and bankruptcy.

Schnader Harrison Segal & Lewis LLP is a law firm of 200 attorneys with offices in Philadelphia, Pittsburgh, New York, California, Washington, DC, New Jersey and Delaware.

Schnader serves local, national and international clients ranging from large corporations to start-ups and entrepreneurs to individual clients in more than 40 areas of the law.

In addition to the firm’s traditional strengths in complex litigation, commercial transactions, wealth management, and family law, the firm has significant experience and depth in intellectual property, international commerce and labor laws, financial services, construction law, real estate development, corporate governance, appellate services, technology-based companies, media and communications, environmental, energy, nonprofit, government relations and regulatory affairs, aviation issues, business reorganization, and securities and shareholder litigation.

Tishman Construction is headquartered in New York City with operating subsidiaries located across the United States. We provide a wide range of construction and construction-related services for projects of varying scope, budget, schedule and complexity. Our experience includes projects from various sectors, including arts and culture, commercial, convention centers, education, gaming, government, healthcare, hospitality, residential, retail, sports and leisure, technology and transportation. More than a century of achievement comes from longstanding relationships with clients and design professionals.

NJ SmartStart Buildings is the commercial and industrial component of the NJ Clean Energy Program from the Board of Public Utilities. The program provides significant financial incentives for incorporating approved energy efficiency measures in new construction, renovation and equipment replacement projects. Qualified technologies include heating and cooling, lighting and lighting controls, motors and drives, water heating and a custom measures track. Visit NJCleanEnergy.com/ssb for details.

Going Green the DP Way: The Future is Now, and it is GREEN. Global warming and greening the planet has been thrust into our consciousness as never before. Building sustainability is now given serious, in-depth consideration by all developers. DP is committed to building green and educating our clients and ourselves on the inherent benefits. As active members and supporters of the U.S. Green Building Council (USGBC), DP has made a commitment to developing LEED Certified projects. With a team of LEED-Accredited Professionals (LEED-AP), we have the expertise needed to develop LEED projects, NOW.

Glacial Energy is one of the fastest growing retail energy suppliers in the United States, currently selling electricity to commercial, industrial, and institutional customers in 16 deregulated markets. Glacial Natural Gas, Inc. an affiliate of Glacial Energy, is currently licensed to sell Natural Gas in 15 markets. Glacial Energy is committed to offering the best combination of price and service to commercial entities of all scopes and sizes. The result is Glacial Energy offers unmatched value for cost conscious energy consumers while maintaining the highest level of customer service.

M&E Engineers provides a full range of Mechanical and Electrical engineering services for commercial, industrial, and multi-family residential projects. Our areas of expertise include HVAC, Refrigeration, Central Utilities, Energy Management, Fire Protection, Plumbing, Power Distribution, Lighting, and Emergency Power Systems. M&E is also very involved in Green Building and LEED Design. We help design high-performance buildings, with a comprehensive and integrated approach to designing and operating buildings. M&E can help by providing energy audits of existing buildings, and energy modeling for proposed new buildings. We are members of the US Green Building Council, and can assist with Smart-Start energy rebates.

“Your Total Energy Experts” Hutchinson is a trusted mechanical contracting firm providing HVAC, lighting, and energy solution services throughout the tri-state area. We are a participating partner in the NJ Clean Energy Program which offers financial incentives for commercial customers to integrate energy efficient technologies into commercial facilities. From maintenance to design and construction, our team of experts can provide new or retrofit systems for any commercial, industrial or institutional project.

Just about everyone has access to same commercial flooring products and materials, but not everyone has the extensive experience and the depth of knowledge that Commercial Flooring Concepts has to help you make the right choices at the right price. Our management, research, product selection, installation & maintenance services will take your commercial flooring a step above the rest.

Owned and operated by Tom Mikulski, Commercial Flooring & Interior Concepts, Inc. is located in Eatontown NJ. Our commercial contractors service the entire state of New Jersey and metro New York. We have and will travel out of state for large commercial flooring installation projects or interior office projects such as wall coverings.

Located in Paterson, NJ., Haftek Concrete Washout Systems was created to service the construction industry with a safe, responsible, and environmentally friendly alternative to the old worksite concrete washouts. Concrete Washout System is a portable, self-contained and watertight roll-off bin that controls, captures and contains concrete washout material and runoff. Our system makes it easy to washout concrete trucks, pumps and equipment on-site and facilitates easy off-site recycling of the same concrete materials and wastewater. “Concrete Washout Systems is great! It’s a one-call service.

MaGrann Associates (magrann.com) is a specialized, forward thinking energy engineering and green building consulting firm consisting of 51 highly skilled staff with operations spanning the Mid Atlantic region, Pennsylvania, Kentucky and Ohio.

Mercury Solar Systems is one of the leading commercial solar power integrators on the East Coast. We design and install cutting edge, high efficiency, and versatile solar photovoltaic (PV) systems for businesses of all sizes who want to be both green and financially savvy. Our team has successfully installed over a 1,500 solar systems totaling 20MW solidifying our position as one of the leaders in this market.

We are based in Port Chester, New York, but have established additional offices throughout the region to meet the needs of our growing customer base. In August 2008, Mercury’s parent company, Mercury Energy, secured financing from Oppenheimer & Co. Inc., a leading Wall Street investment bank. This gives us the strength and flexibility to finance large scale projects and grow through acquisition.

In 1975, David Lerner was teaching history and economics at Bayside High School in Queens. Today, he is owner and president of David Lerner Associates, a privately-held investment company, with clients’ assets under management of almost $8 billion. “We are extremely proud of what we do,” says David Lerner, whose “Take a Tip from Poppy” radio segments are well known in the metropolitan New York area.

6D — June 24 - July 7, 2011 — Green Buildings — Mid

Atlantic Real Estate Journal

MAREjournal.com

3RD GREEN BUILDINGS SUMMIT-2011 SPEAKERS Caren S. Franzini has served as Chief Executive Officer of the New Jersey Economic Development Authority (EDA) since January 1994.

The EDA is a State agency that serves as New Jersey’s “bank for business” by financing small and mid-sized businesses, administering tax incentives to retain and grow jobs, revitalizing communities through redevelopment initiatives, and supporting entrepreneurial development by providing access to training and mentoring program She joined the Authority in March 1991 as Deputy Director.

Under Franzini’s direction in 2010, the EDA finalized over $567 million in financing assistance, state business incentives and tax credits, which supported more than $1.4 billion in total public/private investment in the state’s economy and led to the creation of an estimated 5,200 new jobs. These 2010 results brought the EDA’s cumulative financing assistance totals to more than $20.8 billion since its formation in 1974, supporting the creation of nearly 310,000 new jobs and total investment surpassing $44 billion.

Franzini currently serves as Chair of the state’s Urban Enterprise Zone Authority, Vice Chair of the New Jersey Schools Development Authority, and President of the Corporation for Business Assistance in New Jersey. She also is a member of the Board of Directors and is the past president of the National Council of Development Finance Agencies and sits on the boards of the New Jersey Technology Council, the New Jersey Chapter of the National Association of Industrial and Office Properties (NAIOP), the New Jersey Alliance for Action, Inc., and the Southern New Jersey Development Council, and the Aviation Research Technology Park. She was most recently appointed as a Member of the State Planning Commission.

Michele T. Tantalla focuses her practice on environmental related issues and has assisted in matters involving site remediation, federal and state cost recovery and contribution claims, natural resource damages, insurance coverage and regulatory and compliance issues, and has extensive knowledge of state and federal regulations. Using this knowledge base, Tantalla assists clients with investigation and remediation activities, permitting and compliance with state and federal environmental laws and regulations. She works with state and federal regulators on projects requiring environmental permitting and has represented parties challenging adverse rulings by regulators.

As an active litigator in state and federal courts, Tantalla has represented clients in a variety of matters, including commercial disputes, product liability claims, mass litigation, as well as environmental litigation, regulatory and compliance matters.

Tantalla received her Juris Doctor degree and Master of Studies in Environmental Law from Vermont Law School. While attending law school, Tantalla served as a Managing Editor of the Vermont Law Review. Upon graduation, from 2000 through 2001, she served as Law Clerk to the Honorable Eugene D. Serpentelli, Assignment Judge, Ocean County, Superior Court of New Jersey. Tantalla joined Connell Foley in 2001.

James P. Rhatican, Partner, Roseland Office, Connell Foley LLP James P. Rhatican represents primarily developers of real estate, both in the acquisition and sale of properties and in the permitting, financing and development process.

He is experienced in acquiring, selling and developing properties of all sorts. Rhatican has represented parties impacted

by adverse environmental conditions at a property, including Superfund sites and the due diligence and ISRA issues associated therewith. He has represented numerous redevelopers of blighted properties and has assisted clients in obtaining tax abatements and public financing for such projects.

Rhatican also has worked with various other state and local regulatory agencies on a variety of projects, including those impacted by Highlands, wetlands, Meadowlands, CAFRA and waterfront development and other regulations. He also has obtained subdivision, site plan and related permits and approvals for projects of nearly every size and character throughout the State. In this regard, Rhatican has represented projects ranging from industrial to retail and office uses, as well as housing projects and others.

He is also a litigator, specializing in disputes arising from real estate transactions, regulatory takings and eminent domain.

Mark Warner is a nationally recognized expert in the solar industry, and is a founding member of the NJ solar market. He has been a featured speaker at local, national, and international events, and has served on numerous renewable energy panels nationwide. Warner has worked closely with the NJ Legislature and the Governor’s office on NJ solar market policy, and has been a long term member of the Renewable Energy Committee that advises the BPU on the solar market program. He has been particularly active in the development of the NJ SREC market, and is widely known for his involvement in the development of the standardized SREC contracting market. Warner served on the board of directors for the regional solar industry association (MSEIA) for four years, and was the NJ-chapter president in 2007. He has received several awards for his contributions to the solar industry including the NJ BPU’s Market Leader Award for Innovation in 2008, and by GreenFaith in 2007.

He has a BS and MS in Mechanical Engineering from Georgia Tech, and has lived in NJ since 1994.

Warner is the founder and CEO of the Sun Farm Network.

James V. Mascaro joined DP Partners as Eastern Regional Development Manager in 2005. Mascaro focuses on development of DP Partners’ projects that currently include the LogistiCenter at Logan in southern New Jersey and the LogistiPort at Savannah, located in Pooler, GA. He also manages design and construction teams for base building shells and tenant build-outs, as well as contributes as an active member of the leasing team. In 2009, he was promoted to Development Director.

Prior to joining DP, Mascaro spent eleven years with MT Consulting, LP of Bryn Mawr, PA and O’Neill Properties Group, LP, working on national, regional and local commercial projects. With experience in leasing, development and construction, Mascaro has proven communication and organizational skills along with a wide range of relationships with contractors, brokers, design professionals and government personnel.

Mascaro is a member of the Delaware Valley Green Building Council, the American Planning Association (APA), the Building Officials and Code Administrators (BOCA), and the Pennsylvania Association of Code Officials (PACO). A Pennsylvania licensed real estate salesperson, he is a Leadership in Energy and Environmental Design Accredited Professional (LEEDAP), holds the designation of Construction Document Technologist from the CSI and is a Certified Commercial Investment Member (CCIM).

William Amann, P.E., LEED AP is the President of M&E Engineers, and has over 30 years of experience in energy syste He has worked as a mechanical contractor in manufacturing, and as a pharmaceutical plant engineer. He is a licensed Professional Engineer, a LEED Accredited Professional, and a Data Center Energy Practitioner. He is an expert in both mechanical and electrical engineering, and has used energy modeling and analysis as a design tool since the early 1980s.

M&E Engineers is a full-service engineering consulting firm. M&E stands for mechanical and electrical, and the focus has always been on high-performance buildings, especially telecommunications, data centers, and pharmaceuticals. The company has participated in a number of LEED Certification projects, as well as Energy Star Buildings. Several recent projects have achieved LEED Certification, including several Silver and one Platinum.

Jason Kliwinski, AIA, LEED AP, BD&C/O&M is a highly recognized and accredited professional in the field of Sustainable Design. He has been greatly involved in the restoration, preservation, and adaptive reuse/renovation of existing facilities as well as the creation of new environmentally responsible buildings. As Director of Sustainable Design, Jason is incorporating the principles of “green” building throughout the office and its projects while fulfilling the firm’s mission of being on-time and within budget. Jason is the AIA-NJ President-elect for 2009 and a co-founder of the United States Green Building Council New Jersey Chapter (USGBC-NJ ), a frequent speaker for such organizations as New Jersey Higher Education Partnership for Sustainability (NJHEPS) and SCUP, and serves as the First Vice President and Chair of the Committee on the Environment for the New Jersey Chapter of the American Institute of Architects (AIA - NJ).

Nicholas J. Kikis is the Director of Regulatory Affairs and Research for the New Jersey Apartment Association. The NJAA represents professional multifamily rental housing providers, including owners, managers, developers, and associated businesses throughout New Jersey, and is the only statewide housing advocacy trade organization dedicated to maintaining, improving and building affordable rental housing for New Jersey’s working families, young couples and seniors. Nicholas regularly works with legislators, policymakers, and regulators to advance policies that promote the availability of safe, decent, and affordable multifamily housing. Nicholas oversees the Apartment Association’s regulatory policy agenda, as well as its public policy research activities. He has written on various topics, including a recent article in Apartment Industry Magazine on immigration trends in rental housing, and a 2007 report on the state of municipal rent control regulations in New Jersey.

Nicholas attended Case Western Reserve University for undergraduate studies in political science and history, and McGill University for master’s studies in political science.

Jeanne Schubert Barnum, cochair of her Firm’s Construction Industry Practice Group, is a trial lawyer with more than 25 years of experience representing developers, business owners, landlords, lenders and municipalities in a wide variety of business, commercial, environmental and creditors’ rights litigation. Barnum is a member of the American Bar

MAREjournal.com

Mid Atlantic Real Estate Journal — Green Buildings — June 24 - July 7, 2011 — 7D

3RD GREEN BUILDINGS SUMMIT-2011 SPEAKERS Association Construction Litigation Committee and co-chairs its Green Building and Renewable Energy Sub-Committee. She is also a member of the New Jersey Bar Association’s Renewable Energy, Cleantech and Climate Change Committee and its Construction Law Committee where she serves as one of its Delegates to the NJBA General Council. Barnum also counsels clients on shifting risk and litigation prevention. She has an active dispute resolution practice and is an arbitrator for the Federal Court for the District of New Jersey, as well as a New Jersey court-certified mediator. She is an associate member of the USGBC-NJ Chapter and serves on the Cherry Hill Township Environmental Advisory Committee.

Laurie Actman serves as the Director of Strategic Partnerships and Public Policy for Viridity Energy.

She joined Viridity in March 2010 after serving as a consultant for two years to Philadelphia Mayor Michael Nutter, helping to launch the Mayor’s Office of Sustainability and the Metropolitan Caucus. Her work through both those efforts helped lead to the region’s success in winning a $25 million Recovery through Retrofit grant from the U.S. Department of Energy for regional commercial and residential energy efficiency and retrofit activities. Prior to working for the City of Philadelphia, Actman served as the Chief Policy Development Officer for the CEO Council for Growth and Select Greater Philadelphia, economic development affiliates of the Greater Philadelphia Chamber of Commerce, where she pursued policy initiatives to improve the City and region’s infrastructure, fostered increased technology transfer and commercialization and improved the quality of the region’s workforce.

She has worked with several noteworthy Philadelphia organizations including the Central Philadelphia Development Corporation and Greater Philadelphia First. Actman began her career in Washington, D.C. with The Brookings Institution and the Rails-to-Trails Conservancy. Actman holds a Master degree in Regional Planning from University of North Carolina, Chapel Hill and a Bachelor of Arts degree from Washington University, St. Louis.

Brad A. Molotsky, Executive V.P. & General Counsel Brandywine Realty Trust Brad A. Molotsky (age 46) is the Executive Vice President, General Counsel and Secretary of Brandywine Realty Trust a NYSE listed, real estate investment trust. He is also running Brandywine Environments, our portfolio-wide sustainability initiative. Brandywine specializes in the ownership, management, leasing and development of class-A commercial office properties in selected markets throughout the United States, owning over 25 million square feet of office product.

Molotsky joined Brandywine as General Counsel and Secretary in October 1997. Prior to joining Brandywine, Molotsky was a commercial transactions attorney at Pepper Hamilton LLP in Philadelphia, Pennsylvania. Molotsky is a member of NAREIT and the Real Estate Roundtable – Sustainability Taskforce, the Philadelphia Real Estate Council, the Philadelphia Development Workshop, the Urban Land Institute, the Delaware Valley Green Building Council, the New Jersey Green Building Council, and the Sustainability Roundtable, Inc.. Molotsky is also a board member of Committee of Seventy, the Walnut Street Theatre, the Jewish Federation of Southern NJ, the JCC of Southern New Jersey, and serves as President of Jewish Community Properties, Inc. He is a also a member of the University of Pennsylvania’s Wharton School Zell/Lurie Real Estate Center and of NAIOP. Molotsky has been elected to membership in the American College of Real Estate Lawyers and the American College of Mortgage Attorneys and he serves on the Advisory Board for the Northern Home for Children, for CARES and for the World Affairs Council of Philadelphia.

David Horowitz, BS/Civil Engineering, MBA/Finance, LEEP AP, is a Senior Vice President and Project Executive with Tishman Construction Corporation. He has more than 28 years experience in the construction industry and is a leading expert on sustainable design and construction.

He served as Project Director for Tishman on the 2.1-million s/f Bank of American Tower at One Bryant Park in New York--the first skyscraper in the world to receive LEED Platinum certification from the U.S. Green Building Council.

Horowitz has extensive experience in the development process of projects, from pre-construction, through design and construction, and onto commissioning. By working with owners, architects, engineers, tenants, and operators, he creates a team-building approach that aims at creating solutions to the sometimes disparate viewpoints of each of the parties involved--doing so within the budget and time constraints of a project.

Prior to managing construction on One Bryant Park, Horowitz was Project Director for the 863-room, 46story Westin New York and the 885,000 s/f 3 Times Square/Reuters Americas Headquarters. Previous to those, he was a Project Manager for the U.S. GSA on the 1-million square foot Federal Office Building at Foley Square in Manhattan, among other projects.

One Bryant Park is a 55-story, 2.1-million s/f office tower in New York City, jointly developed by The Durst Organization and Bank of America. It is the first skyscraper in the world to achieve LEED Platinum Certification and includes a 4.6-mega-watt cogeneration plant, ice storage system, extensive gray water retention and recycling system, green roof areas, and water-free urinals.

Joseph Porrovecchio: A Certified Carbon Reduction Manager (CRM) and LEED Accredited Professional, Joseph is a founding member and the Manager of Carbon-Key, LLC and a Service Disabled Veteran.

Joseph has been elected by membership to serve on the executive board of the U.S. Green Building Council New Jersey Chapter for the past four years and is a committee member of the New Jersey Higher Education Partnership for Sustainability (NJHEPS). In addition to over 35 years of experience as an environmental engineer and health physicist, Joseph is also an educator. As an adjunct professor at Ramapo College, Mahwah, New Jersey, he taught graduate and undergraduate level courses focusing on sustainability and carbon abatement. He has also directed and participated in numerous technical education conferences, seminars, and workshops.

Lee Striar joined Pennrose in 2009 as a development officer, participating in all phases of the development of market-rate and affordable rental and for-sale housing - from project inception through completion. Mr. Striar is the development officer for development projects in New Jersey and Southeastern Pennsylvania.

As development officer and project manager, Mr. Striar’s responsibilities include coordination of all aspects of the development process, including property acquisition, development financing, and land development approvals. Mr. Striar is skilled in identifying and overcoming obstacles that would delay development progress or acquisition of funds through many loans and/or grant programs.

Mr. Striar has experience in many forms of public and private real estate financing and has participated in an array of transactions - including affordable housing via low income housing tax credits (LIHTC), mixed income multi-family housing via tax-exempt bonds, and public housing replacement leveraging

federal HOPE VI grants. Mr. Striar’s appreciation of the customer service delivery aspects of municipal redevelopment is a valuable asset. He brings a proven financial capability and a strong commitment to serving family and seniors affordable, multi-family and market-rate housing needs.

Among his civic activities, Mr. Striar is a founding member of the Kensington Community Food Co-op and is an active member of the Urban Land Institute and a number of neighborhood groups in the Fishtown and East Kensington neighborhoods of Philadelphia.

Mr. Striar holds a Master of City and Regional Planning Degree with a concentration in Urban Development from the School of Design at the University of Pennsylvania. He also holds a Certificate in Real Estate Development and Design, a joint program between the School of Design and The Wharton School of the University of Pennsylvania. His undergraduate Bachelor of Science degree is in Managerial Economics with a concentration in Finance from Cornell University. Mr. Striar lives in Philadelphia, Pennsylvania with his wife Kristin.

E. Mitchell Swann has over 25 years of extensive experience on both domestic and international projects in the areas of management consulting and problem solving, engineering design, project and construction management, forensic engineering and construction claims analysis. Mr. Swann’s career includes the analysis, evaluation and design of complex systems across a wide range of industries and buildings types including commercial, institutional and industrial facilities, hospitals laboratories, pharmaceutical manufacturing, microelectronic operations and data centers.

Mr. Swann has chaired technical committee within national and international organizations and been a contributing author and editor for a number of technical publications and journals. He is a frequent speaker both nationally and internationally and is a listed member of the speakers’ bureau in the Distinguished Lecturer program of ASHRAE. He has presented on Green Building issues in Abu Dhabi, Dubai, Delhi, Hanoi, Philadelphia, Chicago, Seattle, New York City and Washington, DC. He is a contributing author to the ASHRAE “Green Guide – The Design, Construction and Operation of Sustainable Buildings” and co-author of the ASHRAE Survival Guide to Design|Build Project Execution.

Professional Affiliations: American Bar Association, American Society of Heating, Refrigeration, and Air Conditioning Engineers, Association of Energy Engineers, Chartered Institute of Building Science, International Society of Pharmaceutical Engineering, US Green Building Council, Defense Research Institute Darren Molnar-Port Green Building Administrator, Code Specialist, State of NJ, Div. of Codes and Standards Darren Molnar-Port currently serves as the Green Building Administrator for the NJ Department of Community Affairs - Division of Codes and Standards.

He draws from nearly twenty years of environmental responsive design and building experience to provide technical assistance and policy recommendations on energy efficiency, green building and greenhouse gas reduction. He is responsible for reviewing the states green building standards and other programmatic and technical provisions related to energy efficiency and green building legislation and initiatives.

8D — June 24 - July 7, 2011 — Green Buildings — Mid

Atlantic Real Estate Journal

MAREjournal.com

3RD GREEN BUILDINGS SUMMIT-2011 ORGANIZATIONS

An association of real estate property management professionals, IREM offers education, resources and information for today’s property managers.

Associated Builders and Contractors’ (ABC) mission is to advance its members’ ability to support their customers and thrive in the green building industry.

Promotes the understanding, development, and adoption of energy conservation and non-polluting, renewable energy technologies.

NJ’s foremost leader promoting, advocating, and providing education for the planning, design, construction, operation and maintenance of high performance buildings and communities that are environmentally responsible, cost effective, productive, and healthy places to live, learn and work.

Founded in 1986 The New Jersey Apartment Association (“NJAA”) is a 501(c) (6) non profit trade association representing owners, builders, developers and managers of over 180,000 rental homes in New Jersey as well as hundreds of suppliers to the multi-family housing industry.

A professional association for facility management. Within the site are forums, articles, job listings, and directories associated with the industry.

Cleantech Law Partners is a boutique law firm that caters to the unique legal needs of renewable energy and cleantech companies. Our attorneys have extensive knowledge of the clean technology industry and experience working with renewable energy and cleantech companies in the US and around the world.

AIA New Jersey Supports its Members and Promotes the Public’s Understanding of Architecture through Advocacy, Education and Service.

BOMA New Jersey is an affiliate of BOMA International – the oldest and largest association of the office building industry with over 100 federated Associations in the United States and around the world. Headquartered in Washington, DC, BOMA International expands our local network to more that 18,000 real estate professionals responsible for the management of 8.5 billion square feet of office space in North America.

NJCCT promotes this valuable labor-management partnership which provides public and private owners with on-time, on budget top quality construction projects built to the highest industry standards.

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Mid Atlantic Real Estate Journal — Green Buildings — June 24 - July 7, 2011 — 9D

3RD GREEN BUILDINGS SUMMIT - 2011

By James V. Mascaro, DP Partners

Triple bottom line green benefit: Social, Economic, Environmental

W

e all know that when it comes to real estate, finance rules the roost. It’s the folks who watch and control financing and operating expenses who ultimately will control whether sustainable development will increase over the next few years.

Sustainability is broken into three parts: social, environmental, and economic. Studies are showing that sustainable facilities can improve worker productivity and the environment while also reducing expenses.

Going green is becoming a more acceptable business advantage, according to research.

The surveys may be subjective, but they are increasingly showing that a satisfied, productive employee makes a huge impact on a company’s bottom line, since payroll and associated expenses are the largest component of a company’s ongoing operational expenses.

For example, a fall 2009 Green Buildings and Productivity survey by CRBE and USD showed that 55% agreed or strongly agreed with the statement that employees were more productive in green buildings, and 43% were neutral on the subject.

Another example is the 4th Annual Sustainability survey published by CoreNet and Jones Lang LaSalle in Feb. of this year. It showed a shift in the importance of operational costs versus less-tangible workforce benefits. In 2009, energy was ranked at 37% most important; by 2010, energy ranked at 32%.

In addition, employee health and productivity went from 29% in 2009 to 31% in 2010. That’s a small, but important shift that shows companies are considering employee health and productivity costs just as much as saving energy costs.

Our customers seem to be agreeing with our dedication to green buildings as well. For example, consider two of our facilities. Our Commerce Boulevard warehouse facility, built in 1998, is just a street away from a facility on Center Square Road that was LEED-CS Silver Certified in 2009. The 1998 facility was vacant in 2008 and remained vacant through this spring. The LEED facility was vacant in June 2008 but was 100% leased by this spring.

What has changed? Green

E Economic i Ad Advantages t Vision. Agility. Determination.

DP Partners

www.open-sustainability.org

Slide from Green Building Summit presentation

facilities are perceived as a good economic investment for three groups: commercial real estate developers, companies that lease the facilities, and institutions that finance the projects. It becomes, if you forgive the term, a self-sustaining process. More financing means more buildings and, ultimately, an increased benefit to society through improved working conditions, lowered green house gas emissions and a reduction of both operating expense and dependence on fossil fuels.

Sustainability lies where the social, environmental, and

economic impacts of a workspace intersect. Traditionally that’s not been a comfortable space for many who look at annual operating costs. But as more research is done, there are visionaries who see the total operating costs of a work facility including productivity, health, environmental impact, and long-term energy savings, making sustainable real estate development a triple bottom line green benefit.

James V. Mascaro, eastern region development director for DP Partners’ Philadelphia office. ■

Customized Energy Reduction Plans • MEP/FP engineering including LEED • Building Commissioning including LEED • Energy engineering / audits / energy modeling • NJ Pay For Performance Partner / Carbon Abatement Program partner • PA Act 129 vendor • Federal Energy Tax Incentive partner • Infrared Testing • ASHRAE High Performance Buildings CertiÄed • Building Information Modeling (BIM) • MBE/SBE certiÄcation Contact: Jeff Gilbeaux P: 856-988-1890 Email: info@gilbeauxassociates.com PO Box 782, Voorhees, NJ 08043

10D — June 24 - July 7, 2011 — Green Buildings — Mid

Atlantic Real Estate Journal

MAREjournal.com

3RD GREEN BUILDINGS SUMMIT - 2011

By Jeanne Schubert Barnum

Meeting the growing needs of businesses

Claims Arising Out of Green Building

Hutchinson Green-lights Energy-Efficient Solutions

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ith the increase in incentives to promote green building, as well as proposed legislation and actual building codes across the country mandating green buildi n g , m o r e Jeanne Schubert Barnum construction is “going green” and as a result, there is more opportunity for something to go wrong.

Three cases highlight some of the challenges with regard to green building: the first deals with the threatened loss of funding and tax credits, the second concerns a failure to receive LEED certification, and the third details what happened when a “green” product incorporated into a building failed.

In Destiny USA Holdings LLC v Citigroup Global Market Realty Corp., 889 N.Y. S. 2ND 793 (App. Div. 4th Dept 2009), a project heralded as an important public-private partnership, which was to incorporate state of the art “green” technology, renewable energy sources and sustain-

able design, ground to a halt when Citigroup, one source of funding for the project, declared a default. The appellate court in New York upheld in part an injunction issued by the trial court directing Citigroup to pay outstanding draws for the project because its unique character rendered it difficult to calculate the damages such a “visionary project” would sustain. The project’s problems are not over because the Internal Revenue Service is auditing the project since $170 million dollars in tax-exempt green bonds issued to it may not comply with federal tax law.

Bain v. Vertex Architects, Cook County Circuit Court, Docket No. 2010-L-012695, is an action still in the courts, brought by an owner against a design professional for breach of contract for failure to pursue and obtain LEED for Home certification. While the matter is still unresolved, the fact that it was brought should serve as a reminder to individuals involved in the construction industry that it is always critical to pay close attention to the scope of work, particularly when LEED-related matters are involved, to ensure that

all agreed upon requirements are met.

The final case, Chesapeake Bay Foundation, Inc. v. Weyerhaeuser Company et al., U.S. District Court for the District of Maryland, Docket No. 8:11cv47, is an action brought by an owner, architect and general contractor against the supplier for breach of contract, negligent representation and negligence when Parallam, an environmentally friendly wood product, leaked, rotted and deteriorated.

Ultimately, any successful construction project requires many different elements to come together, including a clear contract and scope of work, a solid project plan with reliable contractors, stable funding, quality materials and a realistic time frame. A green building project is no different – and, in fact, often requires additional attention to detail and a substantial understanding of green building methods and LEED requirements to ensure that expectations, goals and requirements are met.

Jeanne Schubert Barnum is co-chair of her Firm’s Construction Industry Practice Group of Schnader Harrison Segal & Lewis LLP. ■

Pfister Energy commissions customized photovoltaic system on the top level of parking deck HACKENSACK, NJ — Pfister Energy, a turnkey solar and renewable energy system installer for commercial, industrial and institutional facilities, recently commissioned a customized photovoltaic system on the top level of the parking deck at One Bergen County Plaza. What was once underutilized space will now generate electricity for the parking deck and the adjacent Bergen County Administration building. The system is expected to generate 690,690 kWh of energy in the first year of operation.

Comprised of 2,730 Tri-

na 230-watt PV modules, the 627.900 kW (DC) solar array is affixed to an overhead structural steel canopy. This unique canopy structure maximizes parking space without taking up existing spaces or the need to install columns.

It also keeps cars cooler in the hot summer months and reduces the “heat island” effect of parking surfaces such as this.

The system was installed at no cost to Bergen County due to a 15-year Power Purchase Agreement with SunLight General Capital. Over the 15-year period, taxpayers will

save an estimated $1,080,000 in energy savings. The energy produced by the system will yield estimated pollution offsets equivalent to deterring an estimated 14.4 million lbs. of carbon emissions, saving 15,198 barrels of oil, or taking 1,419 passenger vehicles off the road.

This project is a win-win for the County, not only in terms of monetary savings, but also by establishing the County of Bergen as a role model for other counties and municipalities in the state to adopt renewables and implement clean energy practices. ■

First Annual Building Energy Reduction Awards ceremony BOMA New Jersey honors three Mack-Cali Properties EDISON, NJ — MackCali Realty Corporation announced that 103 Carnegie Center and 5 Vaughn Drive in Princeton, along with 14 Commerce Drive, Cranford Business Park in Cranford, have received energy reduc-

tion awards from the New Jersey Chapter of the Building Owners and Managers Association (“BOMA”).

The awards were presented at the organi zation’s first annual Building Energy Reduction Awards ceremony on

May 25 at The Newark Club in Newark.

103 Carnegie Center and 5 Vaughn Drive received the awards based on strict adherence to Mack-Cali’s “Building Best Operating Practices. ■

Hutchinson Mechanical Services is a recognized leader in energy-efficient HVAC solutions for businesses. From building automation systems with web access monitoring to solar technologies and installations, Hutchinson provides the latest green technologies to meet the growing needs of businesses. Its team of experts conducts free energy audit assessments to assess the specific needs of businesses, including eligible lighting and upgrades. The goal is to provide businesses with a costeffective approach that maximizes efficiency and getting a return on investment.

One popular green solution that many businesses and local governments are turning to is Direct Install from New Jersey’s Clean Energy Program. Direct Install is a turnkey solution designed to reduce energy costs of small to mid-sized commercial and industrial facilities, to save money while minimizing damage to the environment.

Hutchinson is the participating contractor for Burlington, Camden, Ocean and Monmouth Counties.

“Through Direct Install, businesses can save 60% of the cost to replace outdated lighting and HVAC equipment,” said Ed Hutchinson, president of Hutchinson Mechanical Services. “There’s never been a better time for businesses to go green and reap the long-term benefits of energy-efficient equipment and save on utility bills.”

K.C. Isdaner, COO of The Bloom Organization, is one prominent business that took advantage of Direct Install.

“Choosing Direct Install through Hutchinson was a smart investment for our business. We upgraded our HVAC equipment and only paid a fraction of the real cost. That’s a huge out-of-pocket savings not to mention reduced energy bills.”

Another Hutchinson Direct Install customer, Shields Business Solutions, upgraded its heating/ac energy efficient units through the program.

“The installation was quick and unobtrusive,” said Mark McGrath, vice president of service operations. “Hutchinson worked with us from day one to navigate the entire process and to make sure all our questions were answered. Direct Install with Hutchinson seems almost too good to be true-but the proof is in the savings.”

Hutchinson, a third-generation family business providing comfort and savings to businesses for more than 62 years, recommends these energy-saving tips to help keep businesses cool this summer.

• Upgrade to a high-efficiency chiller or AC system as new chillers are 25-50 percent more efficient than chillers 10 or more years old • Install variable speed drives on cooling tower fans • Install/upgrade HVAC controls to include new energy management systems technologies ■

GSH announces Nexus Properties to compete in the 2011 U.S. EPA competition PINE BROOK, NJ – GSH Group Inc., a global facilities and energy management provider throughout the United States and Europe, announces that Nexus Properties’ Station Plaza Five, located in Trenton is eligible and will compete in the U.S. Environmental Protection Agency’s 2011 Energy Star National Building Competition, based on the energy savings provided by the installation of GSH’s building automation system.

GSH installed the building automation system in the Nexus facility, a 56,000 s/f commercial office building in Central Jersey, in June of 2009, which has contributed to significant energy savings.

GSH is a provider of HVAC mechanical services and en-

ergy management services.

The U.S. Environmental Protection Agency’s ENERGY STAR National Building Competition: Battle of the Buildings helps improve the energy efficiency of commercial buildings and protect the environment. The competition includes 245 teams from 26 different types of commercial buildings, including retail stores, schools, hotels, and museums, from 33 states and the District of Columbia. Using EPA’s ENERGY STAR online energy tracking tool, Portfolio Manager, competitors will measure and track their building’s monthly energy consumption, make improvements to their building’s energy performance, and share their progress. ■

MAREjournal.com

Mid Atlantic Real Estate Journal — Green Buildings — June 24 - July 7, 2011 — 11D

3RD GREEN BUILDINGS SUMMIT - 2011

By William Amann, P.E., DCEP, LEED AP, M&E Engineers, Inc.

Net Zero Energy Buildings

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hen we talk about Net Zero Energy Buildings, we have the notion that these are incredibly efficient buildings.

The term itself implies that these buildings are almost William Amann self-sufficient. The problem is that there is no requirement for a building to be efficient to be net zero. If a building is using let’s say 30% more energy then it should or could, then we can simply provide 30% more solar panels to make up for that waste.

Obviously no building owner would purposely plan to build an inefficient building.

But they are very often not given enough information to understand the options, or the implications. We still struggle in this industry with being able to design buildings that are efficient. Most architects seem to think they design terrific thermal envelopes. The reality is that most don’t even know the minimum requirements. Our engineers design systems based on 95 degree summer days and 10 degree winter days, which represents about 20% of the year. For the other 80% we let these systems cycle, or better yet, let the cooling system run and then re-heat it. Reheat is just as stupid as it sounds, and we still do it in many of our VAV systems.

We have sophisticated energy modeling computer programs to help figure out how much energy a building will use. But energy modeling is still rarely performed, and most often it is done by a specialized consultant other than the design team, after they have substantially completed the design. So the opportunity to look at design options is lost, and it becomes a formality to earn LEED points. And it is even more unfortunate that many of the energy modeling rules in ASHRAE 90.1 Appendix G are there to prevent cheating. Yes, I know it is hard to believe, but some energy calculations have not been accurate, from both a lack

of expertise, and outright manipulation.

The owner is sold a design that requires the least number of hours to design, and/or costs the least psf to install.

There are some VFD’s added and the premium efficiency units are specified instead of the standard efficiency, and that’s what we call high performance. Put solar panels on the roof and the parking lot, and everyone can pat each other on the back. And no one knows or talks about the energy the building is wasting.

Energy model

Hopefully soon the experience of people in the industry will cause them to challenge the design teams to use the tools available to perform integrated design in the true sense, and optimize the building, along with the environmental systems, so that we get truly efficient buildings. When we get the gross energy near zero, net zero will really mean something.

William Amann, P.E., DCEP, LEED AP is the president of M&E Engineers. ■

ENGINEERS, INC.

Integrated Engineering Solutions Energy & Atmosphere - HVAC Renovations - Energy Optimization - Energy Star Certification - Rebate Applications - Benchmarking - Geothermal Systems - Heat Recovery Systems - Combined Heat & Power - Photovoltaic Systems - Fuel Cells - Distributed Generation - Motor & Transformer Efficiency - ASHRAE 90.1 Compliance - Commissioning Specifications

Water Efficiency - Graywater Systems - Rainwater Harvesting - Low Flow & Recovery Systems Health and Indoor Environmental Quality - Natural Ventilation - Construction IEQ Management - ASHRAE STD. 62.1 Compliance - Raised Floor Systems - Daylighting - Displacement Ventilation Systems - Air Delivery Monitoring - Lighting and Thermal Controllability

Energy Services

LEED Projects

x Energy Star Certification x NJ Smart Start Rebates x Solar Energy System

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26 West High Street, Somerville, NJ 08876 Phone: 908-526-5700

www.MEengineers.com

12D — June 24 - July 7, 2011 — Green Buildings — Mid

Atlantic Real Estate Journal

MAREjournal.com

PEOPLE ON THE MOVE To principal, project manager and director

BartonPartners promotes Adelsberger, Smithers, Bickel

N

O R R I S T O W N , PA —BartonPartners announced the following promotions: Bruce E. Adelsberger, AIA, LEED AP to principal, Melissa J. Smithers, AIA, LEED AP to project manager and Steven Bickel to director of architectural design.

Adelsberger has 28 years of experience in institutional, office/commercial, mixed use residential, and communitybased architectural design.

Adelsberger leads the nonresidential market sector work at BartonPartners. He has worked on campus plans and facilities for educational institutions, such as St. Joseph’s Preparatory School, Penn State University, and Devon Preparatory School, and has completed office projects for clients such as AT&T, Aqua America, Xerox, and Brandywine Realty Trust. His Healthcare experience includes various medical offices and out-patient facilities. His commercial and retail experience includes projects for PNC Bank and Bryn Mawr Trust Bank, as well as the Wheaton Mall, Crossings Outlet Square, and Hilltop Plaza. Adelsberger has

also completed projects for Human Services organizations, such as NHS Human Services and Northern Home for Children. A registered architect in Pennsylvania and New Jersey, Adelsberger received a Bachelor of Architecture (cum laude) from Syracuse University and studied in Florence, Italy.

He is a member of American Institute of Architects (AIA) Philadelphia, is certified by the National Council of Architectural Registration Boards (NCARB), and is a LEED Accredited Professional, with membership in the Delaware Valley Green Building Council (DVGBC).

Smithers also earned a Bachelor of Architecture from Syracuse University and studied in Florence, Italy.

Upon graduation, Smithers joined BartonPartners and has worked on numerous multifamily housing projects, such as: Dublin Terrace, Foxfield Condominiums, Woodmont at Palmer, and Voorhees Town Center. She has also worked on commercial shell renovations, clubhouses, single family residences, townhouse developments, hospitality, senior housing, and urban infill

projects. A registered architect in Pennsylvania, Melissa is a member of American Institute of Architects (AIA) Philadelphia, is certified by the National Council of Architectural Registration Boards (NCARB), and is a LEED Accredited Professional.

Upon graduation from Philadelphia University’s architecture program, Bickel spent nearly a year working in the industry and focusing on hospitality, small residential housing and recreational architecture. Since joining BartonPartners in 2002, he has held several positions, giving him responsibility for a number of functions including project management, construction documentation, design, spatial planning and schematic design from start through construction. In his role as director of Architectural Design, Steven will focus on design by managing and directing the project design in accordance with the project goals and program requirements. In addition, he will monitor the refinement of the design through project completion by collaborating with other project managers. ■

Tishman Construction plays Key Role on Owner . . . continued from page 4D of any ductwork to be installed, so when the ducts were delivered, they were not exposed to water- or airborne-contaminants.

• Preventing mold: Tishman prevented mold and mildew by making sure subcontractors kept materials out of wet areas and off the floor.

Water • Graywater system captures and re-uses nearly all 48 inches of annual precipitation, as well as cooling coil condensate and sink water generated on site.

• Water savings of approximately 7.7 million gallons per year will be achieved through graywater treatment and reuse, waterless urinals, and low-flow plumbing fixtures.

The waterless urinals save 3.4 million gallons of potable water annually. Collection tanks staged throughout building take advantage of gravity to transport graywater.

• Nearly zero stormwater discharged to city sewer system.

Energy • High performance curtain wall reduces solar heat gain

through low-emissivity (“lowe”) glass and heat-reflecting ceramic frit; building façade reduces air infiltration.

• Higher ceilings and highly transparent glass reduce artificial lighting requirements.

Occupancy sensors control lighting of base building spaces.

Automated daylight dimming system in lobby, Durst, and Bank of America spaces reduces lighting and cooling energy by up to 10%.

• 4.6 megawatt on-site co-generation (aka Combined Heat and Power) system provides approximately 65% of building’s annual electricity requirements, and reduces daytime peak electricity demand by 30%. The system also generates most of the heating energy for the building.

• Waste heat from co-generation is used to provide heat in winter and cooling in summer through an absorption chiller.

• Ice storage system provides 25% of the building’s annual cooling requirements, reducing daytime peak loads on city’s electricity grid. At night, excess electricity from co-generation

system is used to produce ice, which is melted during the day to supplement the cooling system.

Materials • 91% of all construction and demolition waste was recycled or otherwise diverted from landfill. Trade contractors proactively diverted additional tonnage by taking back the majority of their empty wood electrical reels and packaging pallets for future reuse.

• Structural materials include steel made of 87% recycled content and concrete made from cement containing 45% recycled content (blast furnace slag).

• Salvaged artifacts from Henry Miller’s Theatre were reused in new building.

Site Improvements/Public Benefits • Site includes zero parking spaces; instead, it takes advantage of prime location for mass transit in city with one of the world’s best transit systems.

• Urban Garden Room provides green public space, reinforcing building’s street-level interactions as well as its connection to Bryant Park. ■

NAR’s Green Designation

Michael Baxter & Associates’ Baj awarded STROUDSBURG, PA — Christopher Baj with Michael Baxter & Associates Commercial Real Estate has been awarded the National Association of REALTORS’ [ N A R ’s ] Green Designation, the Christopher Baj only green real estate professional designation recognized

by NAR. Baj achieved this prestigious designation after completing 18 hours of course work designed specifically for REALTORS. The courses were created in collaboration with a multidisciplinary team of industry experts from across the country; ensuring des-

ignees gain comprehensive knowledge of green buildings and properties and issues of sustainability in relation to real estate.

More specifically, Baj was trained in understanding what makes a property green, helping clients evaluate the cost/ benefits of green building features and practices, distinguishing between industry rating and classification systems, listing and marketing green buildings and properties, discussing the financial grants and incentives available to property owners, and helping consumers see a property’s green potential.

As an NAR Green Designee, Baj has gained the knowledge and the tools necessary to become a trusted green resource for Northeastern PA. ■

MacNeill joins Environetics PHILADELPHIA, PA — Environetics announced the addition of Fletcher H. MacNeill, AIA, LEED AP to the team as principal, healthcare practice leader. Fletcher offers over 27 years of experience in planning and designing hospitals. In addition to his core focus on healthcare facilities, he is working to lead and define

the emerging interdisciplinary specialty in Health Science Education, planning and designing for medical schools, clinical skills teaching and simulation labs. Previously with Ewing Cole and Burt Hill, Fletcher is a practice leader and client advocate who builds consensus among the many constituents of complex organizations. ■

The Law of Green Building Appraisal continued from page 2D growing families after WWII; Willard Rouse building the first Regional Mall that rode, and fueled, the consumer boom of the 1960’s; how redevelopment of ramshackle piers in Jersey City, Boston and Baltimore work turned into thriving urban mixed use attractions. We turn dreams into reality.

Hold on, you say? The current interest in Green Buildings is “fueled” by a combination of federal and state mandates linked to financial initiatives and those who believe there is a moral imperative to reduce carbon emissions. Putting us regular real estate folk in this mix is like putting together a real estate deal with Chris Christie and Barack Obama as Tenants in Common. Hey, you’d need a scorekeeper!

That’s the point. The present value of the future benefits of Green Buildings depends on the market betting that this gig can move from mandates and subsidies to market-based development. That’s the essence of what I heard at the Summit.

So how do we get there?

The key is creating a rational legal and economic valuation framework. That framework becomes the scorekeeper. And, the scorecard is an accepted, economically rational, and therefore credible, real estate appraisal that includes the necessary, inherent real property, personalty and business components, including current subsidies.

As the saying goes, there are more unknown unknowns than knowns. One thing we do know. The acceptance of a market-based economy for Green Buildings and other types of similar development, requires a credible appraisal that includes a full understanding of evolving law. Green Buildings can only begin to move from subsidized dream to market-based reality when such a product can be used and relied upon by real estate professionals like you and me.

Dennis Scardilli is licensed to practice law in NJ & PA and practices as an attorney near Atlantic City, NJ. He also holds credentials as a Member of the Appraisal Institute. ■

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Mid Atlantic Real Estate Journal â&#x20AC;&#x201D; Green Buildings â&#x20AC;&#x201D; June 24 - July 7, 2011 â&#x20AC;&#x201D; Inside Back Cover D

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Back Cover D — June 24 - July 7, 2011 — Green Buildings — Mid

Atlantic Real Estate Journal

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U. S. Green Building Council, NJ Chapter Letter from the Executive Director Dear Friends and Colleagues, A week after pulling New Jersey out of a coalition for reduced greenhouse gas emissions, Governor Christie unveiled a new energy master plan last week for the state that focuses on natural gas, conservation, renewable energies and possibly a new nuclear facility.

BOARD OF DIRECTORS CHAIR Anastasia Harrison, AIA, LEED AP Gannett Fleming, Inc. VICE CHAIR William G. Lashbrook III PNC Real Estate TREASURER Ed Seliga Advanced Solar Products, Inc. SECRETARY Wayne D. DeFeo, LEED AP DeFeo Associates PAST CHAIR William Amann, P.E., DCEP, LEED AP M & E Engineers, Inc DIRECTORS David Cardella Cardella Waste Services RJ Donnelly, LEED AP Donnelly Industries, Inc. Nicholas Fabbroni, LEED AP UMDNJ Bill Gates, LEED AP BD&C Hunt Construction Gerard Hazel, LEED AP, HBDP Sustainable Systems, LLC Rey Montalvo Consolidated Energy Design 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 Gregg Woodruff, PP, AICP, LEED AP, BD&C Langan Engineering & Environmental Services, Inc.

The new master plan outlined by Christie during a news conference in Trenton on Tuesday (June 7, 2011) changes the last statewide energy blueprint produced by then-Gov. Jon S. Corzine in 2008. Christie said his plan will prohibit any new coal-fired electric plant and instead rely on a “portfolio” of energy sources that includes wind and solar power and natural gas, and his plan also leaves the door open to another nuclear facility if all state regulations can be met.

The BPU will continue to serve as the lead implementing agency for the Energy Master Plan and will FLORENCE BLOCK hold three public hearings on the draft EMP. In doing so, the BPU will coordinate with appropriate state agencies, energy providers and other stakeholders; track and report on progress through annual reporting to the Governor and posts to the BPU and EMP websites; and work with the legislature to develop or modify existing and future programs that support these energy goals.

In April 2010, Governor Christie directed the New Jersey Board of Public Utilities to revisit the EMP in light of economic conditions. The process included internal BPU Task Force Meetings, Stakeholder meetings around the state on various issues related to the plan, and extensive consultations with Rutgers University’s Edward J. Bloustein School of Planning and Public Policy, Center for Energy, Economic, and Environmental Policy.

DATES, TIME AND LOCATION for NEW JERSEY ENERGY MASTER PLAN OPEN PUBLIC HEARINGS: July 26, 2011 1:00 p.m. – 5:00 p.m.

New Jersey Institute of Technology (NJIT) Campus Center Atrium 150 Bleeker St. Newark, NJ

August 3, 2011 1:00 p.m. – 5:00 p.m.

State House Annex, Committee Room 11 125 West State Street Trenton, NJ

August 11, 2011 1:00 p.m. – 5:00 p.m.

Richard Stockton College of NJ Campus Center Vera King Farris Drive Pomona, N.J.

To view the plan report please visit the following link: http://nj.gov/emp/docs/pdf/2011%20Draft%20Energy%20Master%20Plan.pdf Please feel free to contact us with any questions or comments.

Sincerely, Florence Block LEED Green Associate Executive Director U.S. Green Building Council NJ

Chapter Events June 29, 2011, 7pm

USGBC-NJ Emerging Professionals Networking Event

Teak on The Hudson, Hoboken, NJ Come out and join us for an evening of mingling and networking with the best and the brightest sustainability conscious emerging professionals from across industry sectors.

July 14, 2011, 8am CMP Wkp: O+M 252: LEED for Existing Buildings: Operations & Maintenance Credit-by-Credit Review.

Raritan Plaza II (NJ Carpenter’s Funds Building) 91 Fieldcrest Avenue, 3rd Floor, Edison, NJ You may register for one or all the sessions.

The following courses provide 1.5 GBCI/AIA/HSW/SD Hrs each.

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

EXECUTIVE DIRECTOR Florence Block, LEED Green Associate

Number of New Jersey chapter members:

823+

Number of USGBC member Companies in NJ:

357

GENERAL COUNSEL Harry E. McLellan, Esq, LEED Green Associate McLellan & Associates, LLC

Number of LEED Accredited Professionals in NJ:

3055

Number of LEED registered projects in NJ:

392

Number of LEED certified projects in NJ:

119