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R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news

Project of the Month ISSUE HIGHLIGHTS Volume 25 Issue 10 May 31 - June 13, 2013

Total of 146 units comprise the nine-property package in New Jersey Feinstein, Raiss, Kelin & Booker provides legal council on $9.92 million refinancing

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Bank . “The owner purchased these properties as a package in 2009 and recognized that, with interest rates hovering near record lows, the timing is right to refinance the entire package,” said Raiss, who specializes in commercial real estate transactions as well as related corporate and commer- cial activities. “As with any real estate transaction, the owner wisely sought the counsel of an experienced commercial real estate attorney.” A total of 146 units comprise the nine-property package, which includes six buildings in West New York, two in Union City and one in North Bergen.

EST ORANGE, NJ — Feinstein, Raiss, Kelin &

This is the third large Hudson County transaction recently closed by FRKB. The previous transactions involved refinanc- ing 11 separate multi-family loans, as well as handling the $37.6 million acquisition of a 13-property portfolio through- out West NewYork, Union City and North Bergen. Since joining FRKB as a founding partner at the firm’s inception in 1991, Raiss has represented leading real estate operators and man- agement firms throughout Northern New Jersey. The Seton Hall University School of Law graduate was a Law Review Member prior to his law school graduation and is a

the club’s entrance doors will be a metal deck that adjoins the second floor lounge space. The third entrance to the facility, which opens to the retail store and gaming room, will also be enhanced. High Construction is serv- ing as general contractor for the project, which was designed by Chambers & Associates, Manheim, PA. High Construction Com- pany provides design-build, general contracting, con- struction management, and energy consulting services throughout the mid-Atlantic region of the United States. High Construction special- izes in the commercial, indus- trial, education, hospitality, retail, health care, and multi- family residential markets. The family-owned business is headquartered in Lancaster, PA, with offices in Williams- port, PA, and Elmira, N.Y., and employs over 60 profes- sionals. High Construction is an affiliate of High Real Estate Group LLC, which also includes Greenfield Ar- chitects Ltd., HighAssociates Ltd., High Investors Ltd., and High Hotels Ltd. ■ FRKB was co-founded by Raiss and Richard Kelin, Esq., both of whom are managing partners, along with Norman Feinstein. The firm’s diverse clientele includes individuals, owners, property managers, builders and developers. In ad- dition to its distinguished repu- tation for handling commercial real estate transactions, the firm’s Litigation Department focuses on commercial litiga- tion matters and landlord ten- ant law. ■ two-time appointee to the New Jersey Super Lawyers in Real Estate. He also is active in the New Jersey Apartment Asso- ciation as well as the Property Owners Association.

B o o k e r , L L C , t h e West Orange based general practice law firm with a concentration in real estate, has handled the refinanc-

Cigars International Hamburg, PA Super-Store

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Larry Raiss

ing of a nine-property multi- family portfolio in Hudson County. Larry Raiss, Esq. , a managing partner, provided legal counsel on behalf of the property owner, a long-time cli- ent, who secured $9.92 million in refinancing from Signature

Construction Law Spotlight

High Construction Company awarded Trop Elite Equipment contract totaling $2.5million

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LANCASTER, PA — High Construction Company was awarded a $2.5 million contract by Trop Properties LP to transform an existing vacant building located at 910 North Hanover Street, El i zabe t h t own , Moun t Joy Township, PA, into a new facility for Trop Elite Equipment. Demolition of the existing interior space will begin in May. Reconstruction will be completed inmultiple phases, with Trop Elite Equipment’s new retail store opening in

Industrial RE & Distribution Centers Spotlight

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910 North Hanover Street, Elizabethtown

August, and the remaining construction wrapping up by the end of the year. The new 35,000 s/f facil- ity will replace Trop Elite Equipment’s current facility, also located in Elizabeth- town. The new facility will in- clude many high-end en- hancements and amenities, as well as a membership club. Most significantly, the facility will include a pre- mier and environmentally friendly indoor firing range, featuring 12 shooting lanes and the most modern range

equipment available to any shooter in the region. The facility will also include a gunsmith area; a retail store with a gaming room; a kitchen, espresso bar, and lounge with a fireplace; a gym and fitness area; and administrative offices. The existing metal build- ing will receive two additions featuring EIFS and masonry block veneer. One addition will highlight the gunsmith shop and entrance; the other addition will highlight the club’s main entrance and re- ception area. Extending over

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Green Buildings .............................. 7-10A Owners, Developers & Managers.. 11-26A Shopping Centers ..................... 27-36A Industrial/Distribution Centers ...Section B

Upcoming Spotlight June 14, 2013 CREATIVE FINANCING

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