24A — August 2023 — M id A tlantic Real Estate Journal
www.marej.com
M id A tlantic R eal E state J ournal
continued from page 2A Major reasons for NJ’s Industrial . . .
Chay Lapin, KPI
school that brought me under his wing in his real estate firm in Los Angeles. And he helped me get my license when I was in college and I learned every- thing from leasing to property management, to asset manage- ment, to brokerage and learned all those different areas and segments that ultimately would tie into what I’m doing today. This path ultimately led me to meeting Dwight Kay. MAREJ your knowledge and be willing to help those around you. Stay true to your values in times of uncertainty, and your actions will earn you the trust and re- spect of your peers. Be a great teammate, collaborate with others, and support your col- leagues in achieving common goals. Understand there is no task too big or small. Find a mentor and seek guidance from experienced profession- als who can offer valuable insights and advice. When you get knocked down, get up and push harder. MAREJ deal, I feel there’s no better way for working through these challenges than sitting down with clients for a meal,” he said. This same practice extends to his family. When at home, Herskowitz looks forward to spending quality time with his family by helping to prepare meals. “Just like in business, in everyday life there is nothing like break- ing bread to bring people together,” he said. MAREJ in the Northern New Jersey submarkets. During this time, he has gained invaluable front- line knowledge regarding prop- erty inventory, key owners and trend projections. Additional- ly, he has served as a member of the firm’s brokerage team on several prominent transac- tions, including the $19.8M sale of Grand Lee Apartments, an 80-unit garden-style prop- erty in the borough of Leonia. While Betesh now reserves leisure time for the movies – along with cooking and his basset hound Anguish – he embraces the challenge of being a multifamily-focused investment broker. “I enjoy meeting and engaging with new people, hearing about and helping to shape their ‘stories,’” he said. MAREJ
continued from page 20A and Chambers. What inspiring word of advice would you give to a young executive gradu- ating from college today? Be a sponge and stay curious for knowledge. Being well- informed and adaptable will give you a competitive edge in your career. Don’t be afraid to step out of your comfort zone and take on challenges that push your limits. Embrace failures as learning experienc- es and use them as stepping stones to future success. Share continued from page 21A issue and the ever-rising inter- est-rate environment of 2022,” he explained. “Regardless of what came up – and there were a lot of unanticipated scenarios – it fueled my commitment to both the seller and the buyer to bring this deal to the closing table, which we did.” According to Herskowitz, forging connections is key to long-term success in the brokerage business. “When there are issues related to a continued from page 21A “My days at CAA, Gunpow- der & Sky and Utopia shaped the foundation for my career that continues to serve me extremely well: principles for elite client service, uncom- promising team collaboration and the handling of tasks with precision and discretion,” he explained. “I also was quite familiar with how to navigate financial models, pro-forma projections and investor wa- terfalls because – contrary to what one might think – ac- quiring and selling film rights is not dissimilar to getting an exclusive to sell an apartment building and exceeding the owner’s expectations.” Since joining the ranks of Gebroe-Hammer in 2022, Be- tesh has entrenched himself continued from page 19A of going to the Olympics, you have to be “all in” because of the intense training regimen that’s required. So as an Olympic athlete, I didn’t have the op- portunity to take an investment banking job straight out of col- lege. But I did realize that one of the benefits of a real estate career would be that I could do it while training. I was fortu- nate to find an Alumni at my
What outside activities do you enjoy during you free time? As a husband and father to 2 young boys, my favorite activities and hobbies outside of work are usually spent with my family. We love going to the zoo, the park, and the beach. Being on the golf course with clients or good friends is definitely high up there on the list. What inspiring word of advice would you give to a young executive gradu- ating from college today? Knowledge is powerful, so never stop learning - your suc- cess is dependent on you Always give more than what is expected and you’ll find the turn-out to be both personally gratifying and professionally effective. With discipline, persever- ance, teamwork and an un- stoppable attitude, you’ll not only thrive, but you’ll also inspire others to unleash their own competitive spirit. For those entering the in- dustry, you need to have ex- cellent communication skills and a very thick skin. There are so many ways that trans- actions can go sideways dur- ing the process, and being able to quickly evaluate the options and pivot is critical for success. MAREJ demand and increased port activity. However, limited supply and anti-warehouse sentiment pose challenges for investors. Despite these ob- stacles, the market presents attractive opportunities for those who conduct thorough research, select properties in high-demand areas, and carefully manage their in- vestments. With strategic decision-making and a focus on market dynamics, More good news and reasons to own or invest in Industrial Real Estate in 2023-2024! Trepp CMBS Research , perhaps the leading Real Es- tate Research and Financial publisher in the Country, in their August 2023 analytic report comparing different US Real Estate Asset Classes, “Mortgage Delinquencies” shows that nationwide, In- dustrial Real Estate Is The Strongest Asset Class, with the smallest percentage of overall “troubled” mortgage debts. Howard Applebaum is president of Corporate America Realty & Advisors. MAREJ
Forecast: CoStar forecasts a continued upward trajectory for the New Jersey industrial real estate market. Over the next five years, there is an anticipated 10% increase in the average price per square foot for industrial space. This forecast indicates that the market will become even more competitive, making it essential for investors to con- duct thorough research and identify areas with strong demand and limited supply. 4. Investment Consid- erations: Investors seeking to enter the New Jersey in- dustrial real estate market should conduct comprehen- sive location analyses. Fac- tors such as proximity to major transportation hubs, availability of skilled labor, and adherence to zoning regulations are crucial con- siderations. Additionally, ensuring efficient property management is essential to attract and retain tenants. Conclusion: The New Jersey industrial real estate market has experi- enced significant growth due to the surge in e-commerce need to have a strong mindset and possess leadership quali- ties. These are the qualities that allow me to thrive: • Find gratification in helping clients accomplish their goals, while improving communities • Never being complacent, constantly seeking ways to improve personally and professionally • Provide continuous sup - port to team members so they may grow and succeed My deals comprise of high- profile transactions along the East Coast with a focus in the Tri-State area. I work side-by- side with my clients who are, by way of example, redevelop- ing communities, repurposing buildings and even building charter schools. By having a commitment and obligation to be an ad- vocate for my clients and by extension, I am able to contrib- ute to community gentrifica - tion which is very rewarding. A successful track record of consistently closing over $1 Billion in loan transactions annually, has positioned me to be highly regarded within the CRE industry and sought out by both institutional and high network family offices to aid in securing optimal financing options for them.
Jersey. E-commerce retailers require storage and distribu- tion facilities, driving the need for warehouses and fulfill- ment centers. Additionally, the influx of inbound contain - ers into the Ports of Newark/ Elizabeth and nearby ports has further fueled the demand for industrial space. However, the supply of available in- dustrial space is limited, and certain municipalities have been resistant to warehouse development, exacerbating the upward pressure on prices and increasing competition. 2. Impressive Market Growth: Over the past ten years, the average sales price psf for industrial space in New Jersey has soared by 300%. This growth underscores the market’s current trend towards expansion, driven by the surge in demand from e-commerce retailers and the scarcity of industrial proper- ties. The economic impact has been substantial, with lucra- tive investment opportunities and job creation throughout the state. 3. Future Outlook and a lot of very broad relation- ships. My interest in real es- tate gravitated me toward the capital markets/debt aspect of CRE. I started out slow, like most young entrepreneurs in the business, but quickly gained recognition for my in- tegrity in dealing with owners and lenders. Today, I hold a significant position as a partner in the firm, overseeing a team of financial analysts. My role is centered around client-facing loan origination and place- ment, which includes structur- ing the capital stack of senior, mezzanine/preferred and LP equity. I work closely with my clients from the first meeting through the closing process, to achieve the best terms avail- able in the market. We have a team approach to servicing our clients and prefer personalized service over volume. My profession as a CRE mortgage broker, allows me to play a vital role in improving communities through com- mercial real estate financing. What unique qualities and or personality do you feel makes you most suc- cessful in your profession? Working as a commercial real estate mortgage broker in the NY Metro area requires the
Orry Michael, Faropoint
Eli Herskowitz, Gebroe . .
continued from page 16A Brad Domenico, Progress Capital
David Betesh, Gebroe . . .
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