R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news
ISSUE HIGHLIGHTS Volume 25 Issue 24 Dec. 20 - Jan. 16, 2013
Investment market for multi-family properties continues to be “Voracious” Gebroe-Hammer completes $8 million in apartment sales
Annual Review
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building on an 8.15 acre lot off West Forest Grove Rd. in Vineland. The contractor is building the distribution facility, which will be leased and operated by RLS Logis- tics , for its real estate de- velopment company, BDGS, Inc . RLS Logistics is a lead- ing temperature-controlled logistics provider, offering transportation, warehousing, packaging and distribution services for many local and international food producers in the Mid-Atlantic region. This project marks the sec- ond Vineland location for the company, which has addi- tional facilities in Newfield, NJ and Pittston, PA. When completed, the building will stand 56 feet tall and house more than 41,600 s/f, encom- passing a variety of energy efficient technologies. n seller holding a long-termfirst mortgage plus the buyer’s cash investment. Because of our long-standing relation- ships with both buyer and seller, we were able to bring them together and complete the transaction, from offer to closing, in just 30 days.” The two-story brick build- ing, constructed in 1970, consists of 18 one-bedroom and nine two-bedroom apart- ments. It was fully occupied at the time of sale. The property features tenant parking in the rear and is located just one block from Bloomfield Ave., Caldwell’s main business district. The completion of this sale marked a milestone as well for Uranowitz, who has now sold every garden complex over 18 units located on Rose- land Ave. In Montclair, the four sto- ry, 22-unit brick, elevator
IVINGSTON, NJ — Gebroe-Hammer As- sociates has arranged
the sale of two Northern New Jersey apartment properties for a combined total of nearly $8 million, reports Ken Ura- nowitz , president of the firm. The two separate transactions total 49 units in Caldwell and Montclair, and both proper- ties were sold by long-term owners. In the Caldwell transac- tion, the 27-unit complex at 40 Roseland Ave. traded for $4.3 million. The firm’s bro- kerage team, which included Uranowitz and David Jar- vis , executive vice president, represented the seller and identified the buyer. “This was a very unique off-market transaction as the seller was a private in- dividual I have known for 27 years,” said Uranowitz. “The sale was structured with the
Caldwell and Montclair portfolio
Section C
building at 9-11 Seymour St. was sold for $3.655 mil- lion, which factors out to more than $166,000 per unit. Uranowitz represented the second generation private ownership and teamed with Jarvis to procure the buyer. Consisting of 18 one-bedroom and four two-bedroom units, the property is adjacent to a municipal parking lot with available permit parking and one half block from the center of Montclair’s main business
artery, Bloomfield Ave. “The Montclair property had been owned by the same family since 1959, whom I’ve known since my very first days in the business back in 1975, and this was the first time it had become available for sale,” said Uranowitz. “Indeed, both of these proper- ties had many-decades-long ownership in which each seller decided to capitalize on extremely favorable market conditions”. n
BEST RETAIL POM/DOM OF 2013 11A BUILDING SERVICES &SUPPLIERS
Construction on an industrial freezer facility Stanker & Galetto break ground for RLS Logistics building
VINELAND,NJ — Stank- er & Galetto , a leading general contracting firm in southern New Jersey, broke ground on the construc- tion of an industrial freezer
5B-11B
Directory
People on the Move.............................. 22A Owners, Developers & Managers..Section B Green Buildings............................. 13-19B Shopping Centers........................ 5-20A
Upcoming Spotlight January17th, 2014 2014 Forecast
Shown at the groundbreaking ceremony (L-R): Dave Manders, Manders Merighi Portadin Farrell Architects, LLC; Jesse Amoroso, Amoroso’s Baking Company; Russell Leo, RLS Logistics; Sandy Forosisky, Director of Redevelopment, City of Vineland; Anthony Leo, RLS Logistics; Peter Galetto, Stanker & Galetto; Dawn Hunter, Greater Vineland Chamber of Commerce; Mark D’Onofrio, Stanker & Galetto; and Fred Bernardini, BDGS
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Inside Cover A — December 20, 2013 - January 16, 2014 — Mid Atlantic Real Estate Journal
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59 Hook Road Port Bayonne, NJ 59 Hook Roa Port Bayonne, N
163,760 SF Available
Property Details: • 163,760 SF Available; Divisible • Office: 15,000 SF
• 23 Loading Docks–10’ x 8’ • 7 Loading Docks–9’ x 10’ • 1 Drive-in Door • Column Spacing : 43’ x 38’ and 47’ x 39’ • Energy Efficient -T5Lights • Rail Possible
• 21’ Clear Ceiling Height in 125,000 SF • 32’Clear Ceiling Height in 35,000 SF • Ample Parking • Fully Racked
Exclusive Brokers
Rick Marchisio President/Principal
Jeffrey M. Miller Senior Vice President Office: 973.475.7068 Cell: 201.707.4024 Jeffrey.miller@lee-associates.com
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LICENSED REAL ESTATE BROKER LEE-ASSOCIATES.COM I ENSED R AL ESTAT BROKER LEE ASSOCI TES.COM
All Information is from a source deemed reliable, however no warranty or representation, expressed or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions imposed principals All Information is from a source deemed reliable, however no warranty or representation, expressed or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions imposed principals.
Mid Atlantic Real Estate Journal — December 20, 2013 - January 16, 2014 — A
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WANTED 150 Acres for a 800,000 square foot Manufacturing Plant Needed: 40 Megawatts of Electricity, Natural Gas and 1.5 million gallons of water and sewerage Level Land is ideal with rail access to a major highway
States of virginia, West Virginia, and Pennsylvania preferred
Please Contact: Henry Doughty Henry’s Real Estate Company 860-208-9060 HDoughty@yahoo.com
A — December 20, 2013 - January 16, 2014 — Mid Atlantic Real Estate Journal
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Accutech...................................................................... 19B All-Rite Construction.............................................. IBC-C AMC Fire Protection................................................... 18C American Architectural................................................ 1B Bayshore Recycling..................................................... 16B Bennett Williams Realty.............................................. 6C Binswanger................................................................... 7C BL Companies....................................................11A&22C Boyle Construction Mgmt.. ........................................ 24C Brasler......................................................................... 19C Capitol Aerials............................................................ 14B Carl Berger...................................................................25C CMC............................................................................... 3C Comly............................................................................. 3A Conestoga Title Insurance.......................................... 29C Connel Foley. ................................................................ 1C Cushman & Wakefield................................................ 23C Earth Engineering...................................................... 17C Elias B. Cohen. ............................................................. 7B Elliott Lewis.................................................................. 6B Entech Digital Controls.............................................. 17B Exchange Solutions. ..................................................... 4C Fowler.......................................................................... 23B G&C............................................................................. 10B Gebroe-Hammer. ........................................................ 12C Gilbeaux...................................................................... 15B GREP............................................................................. 2C Griffin Land..................................................................17C Haftek.......................................................................... 11B Harvey Hanna............................................................. 16C Heller Industrial......................................................... 21C Henry’s Real Estate...................................................... 1A Hutchinson Mechanical.............................................. 18B ICREW. ....................................................................... 21A IREM........................................................................... 25B Jewel Electric................................................................ 9B Jottan. ....................................................................... BC-A Katz Properties........................................................... 16A Kislak.......................................................................... 10C Kline’s Services........................................................... 14B Landcore.......................................................................27C Limbach Engineering................................................. 15B Lincoln Property Company. ......................................... 5C M.Miller & Sons............................................................ 4B Marcus & Millichap NY............................................BC-C Meridian..................................................................... IC-C Metro Commercial...................................................... 17C NAI Mertz................................................................... 13C NJ Smart Start..................................................12B&15C NJAA........................................................................... 23B Oppenheimer................................................................. 8C P.Cooper Roofing.......................................................BC-B PennCap...................................................................... 17C Poskanzer Skott............................................................ 3B Preferred Construction Management........................ 20B PWC............................................................................... 2B Rational Contracting.................................................... 2B RD Management........................................................ 6-7A Rittenhouse................................................................. 14C RT Environmental Svcs................................................ 9C Singer Financial. ........................................................ 11C Specialty Building Services.....................................IFC-B Subway.......................................................................... 9A The Feil Organization. ............................................... 15A Whitestone Associates................................................ 12A WithumSmith & Brown................................................ 8B Worth & Co.................................................................. 11B MAREJ A dvertisers D irectory
Mid Atlantic R eal E state J ournal Publisher ............................................................................ Linda Christman Publisher ............................................................................... Joe Christman Publisher/Senior Account Executive ................................. Elaine Fanning Section Publisher .................................................................... Steve Kelley Senior Editor/Graphic Artist .................................................Karen Vachon Production Assistant ....................................................................Julie King Office Manager .................................................................... Joanne Gavaza Contributing Colomnist ............................................................. Mike Mullin Mid Atlantic R eal E state J ournal ~ 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. 25 Issue 22 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
Mid Atlantic Real Estate Journal
By Michael Mullin IT Managers Should Consider Their Next Generation Tech Today
M
arch 2014 may seem far away, with July 2015 even further out.
However, for businesses run- ning Windows XP Professional, Server 2003 or Small Business Server 2003 these dates – which represent support end-of-life for these three popular products – should already be top of mind. More specifically, this is a per- fect time for IT managers to get proactive by considering options and beginning the budgeting process for their next generation of business technology. Of course, just because Micro- soft stops supporting a particu- lar product does not mean the product will stop working. How- ever, the company’s technical support people, who represent the first line of defense when a problem does arise, will no longer be able to help. In the case of XP, Microsoft will require the software be updated to Windows 7 before they can field a support call. While this may not be a major issue for companies with a few PCs, the cost can be significant for those that have a few dozen or hundreds of desktops, laptops and mobile devices. Server 2003 and Small Business Server 2003 (typically used by firms with 75 or fewer workstations) will need to be replaced entirely, and comparable on-premises mail or file-and-print servers are big- ticket items. So whether a company is fac- ing an impending need to update software applications on a large number of devices, or is at a point where it must swap out an obsolete server or servers, it is time to start planning. However, before diving into purchasing apples-to-apples replacements, it is worth considering Microsoft Outlook 365, the company’s
cloud-based option. At a cost of just $4 per user per month – a mere $400 for 100 workstations – after setup and licensing fees, Outlook 365 presents a major potential cost savings. It also offers a built- in disaster recovery function. Microsoft automatically backs up to multiple locations, so if a user’s primary cloud goes down, they can put their data (and ap- plications) back up via another path. And, importantly, Outlook 365 users receive automatic software updates as well. Who should transition to Microsoft’s cloud-based com- puting? Some would argue that any company with less than 500 employees would be crazy not to take advantage of this platform immediately. At IBS, our advice is not that black and white. First, while Microsoft talks about the simplicity of the tran- sition, PCs need to be running Outlook 2013 in order for it to work. That means those run- ning 2003 or 2007 – i.e. the vast majority – need to be upgraded to the most current version. While this typically is a hurdle rather than a hindrance, it is important to understand. Second, Outlook 365 is com- pletely dependent on the In- ternet. Companies with poor connection reliability due to geography or less-than-stellar ship positions for eight years, will be serving in an interim po- sition; it was announced recently at the firm’s annual Summit in Las Vegas. “Our company has grown tre- mendously and we are strategi- cally positioning ourselves for our next platform of growth,” said Rinkov. “It’s critical that we take the time to implement our strate- gic objectives as we move into the
ISPs most likely should stick with buying their own, premis- es-based server and software. Regardless of whether the choice is clear or cloudy, it is a good idea to partner with a Microsoft support agent that can help navigate the deci- sion-making and implementa- tion processes. For our clients, IBS Network Services lays out the pros and cons of why they should or should not migrate to the cloud, andwhat the upgrade path would look like. For those that move forward, we are able to handle the entire shift, in- cluding working withMicrosoft, migrating everything to the cloud and acting as a front-line support option on an ongoing basis. This type of full-service approach provides a seamless and painless transition. The bottom line? Whether in six months or two years, Microsoft is phasing out three key business products. In turn, companies are faced with the need to invest in their technol- ogy. By starting to think about it now, smart organizations have time to thoroughly explore their options, and potentially make some changes that will save them money for years to come. Michael Mullin is the pres- ident of Integrated Business Systems (IBS) n future. There is no question that I’m honored to be appointed the interim president and chairman of the board. “ Rinkov is currently a member of the board of directors, and has been largely instrumental in the firm’s development of technology and communications infrastruc- ture. In addition, Rinkov serves as president of Lee & Associates Central Los Angeles. n
Lee&AssociatesnamesRinkovpresident andchairmanof theboard
LOS ANGELES — Lee & Associates (Lee) has named
Jeffrey M. R i n k o v president and chairman of t h e b o a r d . Rinkov, a 17 year industry veteran who has served in Lee Leader-
To advertise, call 1-800-584-1062
Jeffrey Rinkov
Mid Atlantic Real Estate Journal — December 20, 2013 - January 16, 2014 — A M id A tlantic R eal E state J ournal A uctions
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A — December 20, 2013 - January 16, 2014 — Mid Atlantic Real Estate Journal
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RETAIL PAD SITES!
D Well designed retail center with High Visibility/High Access retail pad sites at HUMBOLDT STATION, HAZLE TOWNSHIP, PA. D Construction ready! D Zoned B-2Commercial, these pads are ready to go with all utilities at lot lines. D Suitable for restaurant, hospitality, retail commercial, other. D Keystone Opportunity Zone(KOZ) program provides tax incentives.
Humboldt Station, I-81 Exit 143 Hazle Township, Pennsylvania
Located at Exit #143 off Interstate 81, HUMBOLDT STATION enjoys great visibility and access to the I-81 Corridor.
Accessed by a lighted intersection at Commerce Road (main entrance) and Rte 924, this retail complex is the gateway to the highly successful HUMBOLDT INDUSTRIAL PARK.
Highlights: *5($7$&&(669,6,%,/,7<
/2&$7('$7,(;,7 5WH ,17(5&+$1*( $33529('$1',03529('3$'6,7(6 &216758&7,215($'< 75$)),&6,*1$/$757( $1' &200(5&('5,9( PDLQHQWUDQFHURDG 3$'5($'<6,7(6:,7+87,/,7,(672 7+(3$5&(//,1( /2&$7(',1.(<6721(23325781,7< =21( ',5(&7$&&(6672$'-$&(17 +80%2/'7,1'8675,$/3$5.
Contact: Griff Keefer, BOMA gkeefer@hinerfeldcommercial.com
S hopping C enters
Mid Atlantic Real Estate Journal — Shopping Centers — 5A
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End of six month construction program Continental Realty hosts ribbon-cutting to mark completion of Carney Village the event on Friday, November 22 at 11:30 am.
C
ARNEY, MD — Con- tinental Realty Cor- poration (CRC) , a
RANDALLSTOWN, MD — Brixmor Property Group Inc. (NYSE: BRX ) received the U.S. Design and Develop- ment Award from the Interna- tional Council of Shopping Centers (ICSC) at this year’s annual CenterBuild conference in Phoenix, Arizona. Liberty Plaza, located in the Baltimore area, was awarded Silver in the Sustainable Design category. The ICSC U.S. Design and DevelopmentAwards honor and recognize premier design and development trends of retail projects, new developments, renovation and expansion proj- ects, and retail store design within the United States. To win in the Sustainable Design category, a project must have achieved a significant level of sustainability in the design and construction of the project. “We are honored to be recog- nized by the industry for our innovative work on the rede- velopment of Liberty Plaza,” said Haig Buchakjian , senior vice president of construction with Brixmor Property Group. “We are committed to the smart application of design, construc- tion and sustainability practices which can ensure the commer- cial success of our retail part- ners while enhancing the com- munities in which we serve.” Located in Randallstown, Maryland, the Liberty Plaza redevelopment transformed a The six-month construction program included the com- plete re-facing of the shopping center, the installation of two architectural towers on op- posite ends of the project, the replacement of the roof and sidewalks, and the addition of a common space green area in front of Mars Supermarket. In addition, two new pylon signs were added, the center was completely re-painted, the parking lot was sealed and re- striped and new landscaping
full-service commercial real estate development and man- agement company, had a rib- bon-cutting event to mark the completion of wholesale renovations to Carney Village, a 52,000 s/f shopping center located on 9613 Harford Rd. in Carney, MD. Baltimore County Executive Kevin Kamenetz and Baltimore County council- man DavidMarks are among the dignitaries that attended HI-LIGHTS DEc. 20 - JAN. 16, 2014 Avison Young announces 3,500,000 sale of Cosner’s Corner Retail Ctr.
Positioned at the intersec- tion of Joppa and Harford Roads off Beltway Exit 31, Carney Village is anchored by Mars Supermarket and Carney Village, Carney, MD
features were incorporated into the center. All construc- tion activities were handled by The Mullan Contracting Company .
features a number of comple- mentary retailers. More than 125,000 consumers reside within a five-mile radius of the shopping center. n
Liberty Plaza in Randallstown, MD Brixmor Property Group wins 2013 ICSC U.S. Design and Development Award
blighted, nearly vacant neigh- borhood center into a vibrant 220,000 s/f retail destination, anchored by Walmart. Built on a brownfield, this 1960’s shopping center suffered from 83-percent-vacancy and lacked an anchor tenant to sub- stantiate the center’s size and premier location. The addition of Walmart filled a gap in the retailer’s market coverage, com- plemented the existing retail corridor and reinvigorated the lease-up of the center’s small shop space. The project included envi- ronmental remediation, the demolition of 160,000 s/f of vacant small shop space and
Walmart at Liberty Plaza in Randallstown, MD
the construction of a 160,000- s/f store for Walmart. A num- ber of sustainable elements were incorporated including bioretention basins which use landscaped depressions in the parking field to collect and naturally purify stormwater, native-plant landscaping that does not require permanent
irrigation, networked site light- ing with energy-efficient LED fixtures, skylights for daylight harvesting and low VOC adhe- sives and sealants to improve indoor air quality. Today, the center is fully oc- cupied with top national brands such as Walmart, Rainbow, Little Caesars Pizza and Marshalls. n
8A Equity Retail Brokers’ McEvoy & Delfiner
execute sale of paint store
METAL BUILDING RE-ROOFING
9A
METAL SYSTEMS
www.marejournal.com l People & Company news....14A Best Retail POM.................11A 2014 Editorial Calendar.........20A ALSO INSIDE:
www.RoseMTL.com 717-245-0883
6A — December 20, 2013 - January 16, 2014 — Shopping Centers — Mid Atlantic Real Estate Journal
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18 + million square feet ARIZONA
INDIANA Warsaw The Market Place U.S. Hwy. #30 & Water St. JC Penney, Sears, Elder-Beerman, Pier 1 180,000 SF GLA KENTUCKY Ashland Russell Centre Route 23 & Diederich Blvd. Lowe’s, Super Kroger 272,000 SF GLA / In-line Space & Pad MARYLAND Hagerstown Long Meadow Shopping Center Potomac Ave. (Route 60) & Northern Ave. CVS, PA Dutch Market 243,000 SF GLA Anchor Space/Pad Available Randallstown Brenbrook Plaza Liberty Rd. & Brenbrook Dr. Home Depot 139,000 SF GLA MASSACHUSETTS Billerica Shops at Billerica Boston Rd. (Rte. 3A) & Tower Farm Rd. Kmart, Burlington Coat, Market Basket 275,000 SF GLA / Anchor Space Available Milford Kmart Shopping Center Medway St. & Beaver St. @ I-495 Kmart, Dollar Tree 140,470 SF GLA Future Expansion Space Available MICHIGAN Flint Former Kmart Dort Hwy. (Rte. 54) & Atherton Hwy. 92,691 SF GLA Grand Blanc Holly Rd. & I-75 Vacant Land / 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
MICHIGAN Sandusky Kmart Shopping Center
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 Semoran Blvd. (Hwy. 436) & Hwy. 17/92131,646 SF GLA Aldi, Deals Prime Corner/Junior Box Space Available Fern Park Future Shopping Center 26 Acre Jai Alai Redevelopment Site 6405 Hwy. 17/92 & Fernwood Blvd. near Hwy. 436 153,650 SF GLA Gainesville Mixed Use – Grocery Store & Student Housing NW 13th St & University Avenue 1.74 Acres FLORIDA Fern Park Fern Park Plaza
M-19 & Gates Rd. 176,248 SF GLA Anchor Space Available Southgate Fort St. & Burns Ave. 60,800 SF GLA Freestanding Redevelopment Opportunity MINNESOTA St. Paul Midway Shopping Center University Ave. & Snelling Ave. Rainbow Foods, Office Max, Walgreens 280,353 SF GLA 4.8 Acres Available for Development NEVADA Las Vegas Kmart Plaza E. Sahara Ave. & McLeod Dr. 127,754 SF GLA 10,945 SF Outbldg. Available Kmart at Sunset Plaza 3780 E. Sunset Rd. & S. Sandhill Rd. Kmart 86,479 SF NEW JERSEY Jersey City 235 Orient Ave. ± 15,000 SF on 0.40 Acres Freestanding Redevelopment Opportunity / For Sale Marlton (Evesham) Tri-Towne Plaza Route 70 & Plymouth Dr. 176,519 SF GLA Anchor Space Available Redevelopment Opportunity Mt. Olive Pad Sites Available Adjacent to Foreign Trade Zone Across from Walmart, Sam’s, TJ Maxx Old Bridge A & P Shopping Center Route 9 & Ferry Rd. 64,920 SF GLA 5,300 SF Pad Building Parsippany Whole Foods Shopping Center Route 46 (Bloomfield Ave.) & Cherry Hill Rd. Whole Foods Anchor, In-Line & Pads Available Vineland Vineland Marketplace S. Delsea Dr. (Route 47) & College Dr. New Development Anchor Space / Outlots Available NEW
26,000 SF Ground Floor Retail in Proposed 198,000 SF 8-Story Bldg ILLINOIS Downers Grove Marshall’s at The Grove 75th St. & Lemont Rd. 400,000 SF GLA Anchor Space Available 43,264 SF Niles Golf Glen Mart (Outparcel) Golf Rd. & Dee Rd. Up to 12,000 SF Outlot, B-T-S INDIANA Evansville Evansville Shopping Center Morgan Ave. & Boeke Rd. Rural King, Dollar General 153,000 SF GLA Indianapolis Pendleton Plaza Pendleton Pike & Shadeland Ave. Rose's Department Store 134,797 SF GLA
NEW
RD Management LLC
Thomas G. Mirandi 212-265-6600 Ext. 239 Email: tmirandi@rdmanagement.com Fax: 212-459-9133
Mid Atlantic Real Estate Journal — Shopping Centers — December 20, 2013 - January 16, 2014 — A
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200 + retail projects
NEW YORK Nanuet Home Depot Plaza Route 59 & Hutton Ave. Home Depot, Staples 250,000 SF GLA/Pad Available Orangetown Orangeburg Commons Route 303 & Palisades Parkway Super Stop & Shop Pads Available Stony Point Stony Ridge Plaza Route 9W & Park Rd.
NEW JERSEY Parsippany Whole Foods Shopping Center Route 46 (Bloomfield Ave.) & Cherry Hill Rd. Whole Foods Anchor, In-Line & Pads Available Vineland Vineland Marketplace S. Delsea Dr. (Route 47) & College Dr. New Development Anchor Space / Outlots Available Kmart Plaza Expansion S. Delsea Dr. (Route 47) & Route 55 Kmart, TD Bank Two Parcels: 4.302 & 4.486 Acres Across from Cumberland Mall Williamstown Williamstown Shopping Center Black Horse Pike (Route 42) & Main St. CVS, Dollar General 85,000 SF GLA Anchor Space Available NEW YORK Bellport (Long Island) Former Outlet Center 790 So. Sunrise Highway (Rte. 27) & Station Rd. To be renovated / up to 130,000 SF GLA Deer Park Kohl’s Plaza Proposed Pad 3,800 SF Glenville/Scotia (Albany) Target Shopping Center Saratoga Rd. (Route 50) & Glenridge Rd. 174,000 SF GLA In-Line Space & Pad Available Holtsville Commack Rd. & Grand Blvd. Kohl’s, Super Stop & Shop 182,875 SF GLA
PENNSYLVANIA Trexlertown Macungie Crossing Shopping Center Hamilton Blvd. (Route 222) & Grange Rd. Future Strip and Pads Trexlertown Marketplace Hamilton Blvd. (Route 222) & Mill Creek Rd. Walgreens, Panera Bread, Verizon 36,068 SF GLA TENNESSEE Hermitage (Nashville) Freestanding Bldg. adjacent to Jackson’s Courtyard Shopping Center 3445 Lebanon Pike 24,040 sf GLA Redevelopment Opportunity TEXAS Ft. Worth Westcliff Shopping Center Albertson’s Market, Dollar General Alton Rd. & Biddison St. 133,332 sf GLA UTAH Salt Lake City 410 S. 900 E. & 400 S. Freestanding Office Max New In-line Space & Pad Available VIRGINIA Richmond Food Lion Plaza Rte..1 (Jefferson Davis Hwy.) & Chippenham Pkwy. Outlots Available Winchester Freestanding Kmart S. Pleasant Valley Rd. & E. Jubal Early Dr. 88,479 SF GLA WEST VIRGINIA St. Albans St. Albans Center Route 60 & MacCorkle Ave. SW Kmart, Super Kroger, Goody’s, CVS
US Post Office 21,212 SF GLA Williamsburg (Brooklyn) Northside Piers Retail 20 North 5th St. & Kent Ave. Duane Reade 5,178 SF Available OHIO Ashtabula Home Depot Plaza Route 20 (N. Ridge Rd.) & Orchard Rd. 148,440 SF GLA 18,440 SF Expansion & Pad Findlay
Hobby Lobby Plaza Tiffin Ave. & Croy Dr. Hobby Lobby Anchor Space Available Holland (Toledo) Dick’s at Spring Meadows Place Airport Hwy. & I-475 Dick’s, Best Buy & Expansion Oregon (Toledo)
Vacant Land – 4.645 Acres Dustin Rd. & Isaac Street Dr. 1 block south of Navarre Ave. (Rte. 2) & Kmart OREGON Salem Kmart Shopping Center Mission Street S. E. & 25th St. 116,866 SF GLA PENNSYLVANIA Allentown Home Depot Plaza Lehigh St. & Route 78 220,000 SF GLA / 9.82 Acres Available Carlisle Hanover Street (Route 34) & I-81 Home Depot, Chili’s 140,715 SF GLA 10,584 SF Future Expansion/Pad
Island 16 Cinemas Shopping Center Nicholls Rd. & Long Island Expwy. National Amusements Theater, Chili’s 117,342 SF GLA Latham/Colonie (Albany) Kmart Shopping Center Route 7 & Swatling Rd. 118,863 SF GLA Up to 10,000 SF Outlot Available Monroe/Woodbury Harriman Commons Routes 17 / 6 & Route 32 Wal-Mart, Home Depot, BJ’s, Target 687,716SF GLA Anchor Space & Outlots Available Future Phase III Office or Retail
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
RD
212-265-6600 Ext. 239
Thomas G. Mirandi Email: tmirandi@rdmanagement.com Fax: 212-459-9133
Management LLC
A — December 20, 2013 - January 16, 2014 — Shopping Centers — Mid Atlantic Real Estate Journal
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NRDC announces 13,500 s/f Old Navy opening Old Navy moves into Orange Plaza in Middletown, NY
“Old Navy, one of the larg- est apparel retailers in North America, supports our objec- tive to provide a tenant mix that enhances the shopping experience at Orange Plaza” said Dovid M. Spector , di- rector retail leasing, NRDC. “Orange Plaza is a dynamic regional power-center and we are confident that Old Navy will be successful their Orange Plaza, Middletown, NY
GAITHERSBURG, MD — Avison Young is pleased to announce the sale of 9911 Jefferson Davis Hwy. in Fred- ericksburg, VA for $3,500,000. The sales team of Joe Fried- man and Julian P. Etches represented the seller, 9911 JDH, LLC . The buyer was a private real-estate investment firm. The asset is a 16,000 s/f new construction retail center. The property is located within the Cosner’s Corner development, a major 152-acre regional pow- Corp., (NRDC) , recently announced that Old Navy occupying 13,500 s/f has opened at Orange Plaza. Orange Plaza is an 815,000 s/f power-center located at the intersection of Route 211 East & Route 17 in Middle- town, NY. M IDDLETOWN, NY — National Realty & Deve l opment
new location.” Orange Plaza is anchored by Walmart Supercenter, Kohl’s Department Store, Burlington Coat Factory, Marshalls, Bed Bath & Be- yond, and The Home Depot. The shopping center draws shoppers from a 25-mile re- gional trade area inclusive of the Hudson Valley, Pennsyl- vania, and New Jersey. n
Avison Young announces 3,500,000 sale of Cosner’s Corner Retail Center in Fredericksburg
Commercial Real Estate is MORE than Sales and Leasing
Cosner’s Corner
er outlet along I-95, which will contain 1.5 million s/f when fully built-out. The building was 82% leased at the time
of sale, with two long- term leases, including one GSA tenant, The Social Security Administration. n
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Mid Atlantic Real Estate Journal — Shopping Centers — December 20, 2013 - January 16, 2014 — A
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Celebrating over 20 years of Engineering Excellence!
Benjamin Moore in Chester County, PA EquityRetailBrokers’McEvoy& Delfinerexecutesaleofpaint store
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ROCKVILLE, MD — Ger- ald S. Divaris, Chairman/ CEO of Divaris Real Estate, Inc. (DRE) , announced the signing of two leases totaling approximately 3,500 s/f of re- tail space. TitleMax signed a lease for 1,850 s/f of retail space in Manassas Park Center lo- cated at 8405-8409 Centreville Rd. in Manassas Park, VA. The lease negotiations were handled on behalf of the ten- ant by Susan McGee , vice president of the metropolitan Washington, D.C. office of Divaris Real Estate. The title lending company has more than 1,000 stores in 12 states across the country. Curry in a Hurry leased 1,706 s/f of restaurant space in Southbridge Plaza located at 17173 Wayside Dr. in Dum- fries, VA. The lease was han- dled on behalf of the tenant by McGee and Brandon How- ard of DRE’s Washington, DC office. Curry in a Hurry joins Quiznos, Five Guys, Pizza Boli’s and Mandrian Court at Southbridge Plaza. Divaris Real Estate, Inc. is headquartered in Virginia Beach, VAwith offices in New- port News, Norfolk, Richmond and Roanoke, VA; Charlotte, NC; and metropolitan Wash- ington, DC. Divaris Real Es- tate and Divaris Property Management Corp. are divi- sions of The Divaris Group, an international real estate brokerage and property man- agement company that cur- rently manages and/or leases in excess of 30 million s/f of prime office, retail and indus- trial space fromNew Jersey to Florida. n uity Retail Brokers recently represented the buyer in the sale of a single tenant Ben- jamin Moore paint store in Chester County, PA. The building is approxi- mately 2,848 s/f and situated on East Lincoln Hwy (Busi- ness 30). The BenjaminMoore is located near “the crossroads of Chester County” at the intersection of U.S. Route 30 Business and Pennsylvania Route 100, just east of the Exton Square Mall. n Divaris RE fills 3,500 s/f of retail space in Virginia
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10A — December 20, 2013 - January 16, 2014 — Shopping Centers — Mid Atlantic Real Estate Journal
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With over 10 years of real estate experience Brad Nathanson joins CBRE as executive VP
At Hunt Valley Towne Centre Greenberg Gibbons opens SportsZone Elite
includes hats, denim, shorts, t-shirts and performance footwear. The new 1,650 s/f store is located on Main St., next to Caribou Coffee and Panera. Hunt Valley Towne Centre is a shopping and lifestyle destination located six miles north of I-695 on Shawan Rd. between I-83 and York Rd. n napolis Towne Centre. Prior to that, she worked as a director for business development for General Growth Properties in Paramus, NJ, and man- aged projects for the Rouse Company, Retail Resource and Millennium Partners. In addition to Turf Valley Towne Square and Towne Centre Laurel, she will also oversee the management of five other Greenberg Gibbons properties, including Hampton Towne Centre, Westminster Crossing, Edgewater Village Centre, The Shops at Breton Bay and White Marlin Mall. “Carol’s valuable leadership skills and experience were a great asset toAnnapolis Towne Centre,” said Tom Fitzpat- rick , president of Greenberg Gibbons. “We’re excited to see her apply her management know-how to our other proper- ties as our company continues to flourish and grow.” n
OWINGS MILLS, MD. — Greenberg Gibbons an- nounced that SportsZone Elite opened its doors at Hunt Valley Towne Centre on Saturday, December 7. SportsZone Elite specializ- es in providing urban fashion to men, women and children of all ages. Its vast selection of brand-name streetwear
P
Capital Markets Platform,“ said Bob Walters , executive managing director of CBRE’s nine Greater Philadelphia regional offices. Brad joins CBRE with over 10 years of real estate expe- rience. Most recently, Brad was a first VP investments and senior director of the National Retail Group at Marcus & Millichap where he specialized in consulting with private investors, institu- tions, and developers on the sale of shopping centers and net lease properties specifi- cally focusing on the tri-state area of Pennsylvania, New Jersey and Delaware. While at Marcus & Millichap, Brad had won multiple national sales awards including being distinguished within the top rankings as the multi-tenant
sales agent within Marcus & Millichap. Over 10 years, Brad sold over $1 Billion in retail investment real estate in fourteen different states. Before joining Marcus &Milli- chap, Brad was an investment analyst for a hedge fund under several portfolio managers for SEI Investments out of Wayne, PA. Graduating from the Uni- versity of Delaware with a B.S. in finance and economics, Brad is a licensed real estate professional in Pennsylvania and New Jersey and is a member of the International Council of Shopping Centers. Brad also serves on the pro- fessional advisory committee for Jewish Federation of Real Estate and the University of Delaware Rowing Alumni Committee. n
HILADELPHIA, PA — CBRE Group, Inc. (CBRE) is pleased to
a n n o u n c e that Brad Nathanson has joined t he f i rm’s Conshohock- en office as an executive vice presi- dent of retail
Greenberg Gibbons promotes Diedtrich to asset manager
Brad Nathanson
capital markets. Nathanson’s team will be focused on retail investment sales within the Philadelphia Metropolitan market including New Jersey and Delaware. “We are very pleased to welcome Brad Nathanson to CBRE. With our recent merger with Fameco Retail, Brad will enable CBRE to sig- nificantly expand our Retail
OWINGS MILLS, MD — Greenberg Gibbons an- nounced that it has pro-
moted Carol Diedtrich to the posi- tion of asset manager. In this role, she will oversee management of several of the compa-
Carol Diedtrich
La Perle Spa and Salon will occupy 1,802 s/f at Levin-managed Rutgers Plaza
ny’s properties, including Turf Valley Towne Square, the new 108,000 s/f shopping center and restaurant destination in Ellicott City, MD, and Towne Centre Laurel, the highly anticipated redevelopment of the Laurel Mall, set to open in 2014. Diedtrich has more than 18 years’ experience in manag- ing retail projects and mixed- use developments. She joined Greenberg Gibbons in 2011 as the general manager of An-
America’s Kids and Madrag Stores open at Cedarbrook Plaza
America’s Kids & Madrag Stores, Cheltenham Ave.
Rutgers Plaza
forms, baby products, toys and furniture. Both stores face the high traffic CheltenhamAve. Nassimi Realty president MikeNassimi said, “America’s Kids and Madrag are both quality operations and are a good compliment to the value oriented stores in our center. They should attract a great deal of interest from neighborhood shoppers in the Philadelphia and Montgomery County mar- kets.” Bordering Philadelphia, the 600,000 s/f Cedarbrook Plaza center is just off US Route 309 and is 5 miles from the PA Turnpike. n
WYNCOTE, PA — The first new stores have opened in a recently redeveloped 55,000 s/f building in Cedarbrook Plaza located on Cheltenham Ave. at Easton Rd. America’s Kids and Madrag have both opened their doors in recent weeks. The two stores are the first to open in space that previously held a Toys R Us store. The 6,200 s/f Madrag store offers a diverse collection of ready-to-wear sportswear, linge- rie and accessories. The 11,400 s/fAmerica’s Kids store special- izes in quality brands for youth and children including clothes, shoes, accessories, school uni-
Plaza’s roster of service-orient- ed tenants,” said Frantzman. “Retailers are attracted by the center’s centralized loca- tion, excellent daily consumer traffic and two quality anchor tenants. We are very excited about the diverse shopping experience that is developing here.” Co-anchored by a 74,000- s/f Stop & Shop and 98,684 s/f Kmart, Rutgers Plaza’s lineup of national and regional tenants includes Office De- pot, Dollar Tree, RadioShack, GameStop, Dress Barn, Chase Bank, Plaza Cleaners, Antho-
ny’s Pizza, Venus Jewelers and Burger King. Situated on Easton Ave. at Kennedy Bou- levard, Rutgers Plaza serves a growing residential population of more than 234,900 people within a five-mile radius. The marketplace offers an aver- age household income of more than $70,000 and the daily traffic count exceeds 39,000 vehicles. Current leasing opportu- nities at the center include a 22,898 s/f anchor space. A 2,547 s/f space and inline spaces of 2,000-3,000 s/f can be combined. n
FRANKLIN TWP., NJ — Beauty salon La Perle Spa and Salon has leased 1,802 s/f of space at Rutgers Plaza in Franklin Township, becoming the latest tenant to join the retail mix at this premier Somerset County shopping destination, accord- ing to Levin Management , leasing and managing agent for the 266,650 s/f center. Levin’s leasing representa- tive Jake Frantzman negoti- ated the long-term lease. “La Perle Spa and Salon is a locally owned business and a great addition to Rutgers
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B est R etail P om /D om of 2013!
Mid Atlantic Real Estate Journal — Shopping Centers — December 20, 2013 - January 16, 2014 — 11A
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12A — December 20, 2013 - January 16, 2014 — Shopping Centers — Mid Atlantic Real Estate Journal
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Mid Atlantic Real Estate Journal — Shopping Centers — December 20, 2013 - January 16, 2014 — 13A
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With Wildewood S.C. LP in California, MD Scheer Partners secures mgmt. contract for 289,000 s/f executed a new management agreement with SJS-Wilde- wood S.C. LP for the Wil- dewood Shopping Center, a 289,000 s/f center on 36 acres in California, Md. Scheer Partners senior vice president Marc Schlesinger and senior property man- ager Charlotte Cassell are responsible for the center’s day-to-day activities. Wildewood Shopping Cen- ter boasts JC Penney, Belk and Sears Appliances as ma- jor anchor tenants in the “Bed Bath & Beyond is an important new tenant for the center, and we are happy to entrust the timely renovation and construction of its store to Scheer Partners. We are ex- cited about the management relationship and look forward to many new, exciting changes to the center to support all of our retail activities,” says Steve Cravitz, vice president Bel Air Town Center completes $1 million renovation campaign rapidly expanding Southern Maryland market. Recently, Scheer Partners senior vice president Sandy Hunt signed a 23,400 s/f lease at the Wildewood Shop- ping Center with Bed Bath & Beyond, a significant draw for the other retailers. The Bed Bath & Beyond deal brings the center to 95 percent oc- cupied. Scheer Partners Manage- ment Services will oversee all of the construction-re- lated activities for the center’s renovation to accommodate Bed Bath & Beyond, which is scheduled to open in the spring of 2014. SJS-Wildewood S.C. LP, a New Jersey-based owner of shopping centers throughout the mid-Atlantic region, ac- quired the Wildewood Shop- ping Center in 2003. C ALIFORNIA, MD — Scheer Partners announces that it has
At Kohl’s Plaza in Levittown, NY The Feil Org. announces the completion of reno
Kohl’s Plaza
Feil Organization stated, “The renovation gives the shopping center a newmodern, updated look that will help continue to maintain the property’s historical success going for- ward. Although the renovation wasn’t necessary, we felt the enhancement would benefit the center and surrounding community, and enhance the overall shopping experience for our customers.” The Feil Organization acquired the Kohl’s Plaza/Nassau Mall re- tail site in 1984. Both centers are 97% leased with avail- abilities ranging from 2,250 to 7,500 s/f. Feil also owns the on-site office building, 3601 Hempstead Turnpike, which features approximately 95,450 s/fon six floors. n
LEVITTOWN, NY — The Feil Organization is pleased to announce the completion of a two million dollar façade renovation at Kohl’s Plaza. The Plaza is located at 3575 Hempstead Turnpike in Lev- ittown, NY. This is the first major renovation for the 28- year old Nassau County, Long Island shopping center and includes a new brick façade, columns, signage, and exterior lighting. The six-month con- struction project commenced in April and was complet- ed last month. Tenants at the shopping center include Kohl’s, Party City, PetSmart, Five Below, Famous Footwear, Dress Barn, GNC and Game- Stop. Randall Briskin , vice president of leasing at The
merchants. With a blend of lo- cal and national retailers and restaurants, it now comprises 20 tenants: AAA, Bel Air Hair Salon, Chili’s, C.R. Wings, Fe- dEx Office, Golden Szechuan, Healthbridge, Lendmark Fi- nancial, Leslie’s Pool Supplies, Liberatore’s, Long and Foster Realtors, OnlyNails, OpenDoor Café, Professional Vision, Spirit Halloween, T-Mobile, Taco Bell, WeightWatchers,Wireless Zone and Woodlea Bakery. “The ‘Main & Main’ location of Route 1 and Route 24 has always provided Bel Air Town Center tenants with the ability to reach a large market share of potential customers,” said Thomas L. Fidler Jr., SVP / principal of MacKenzieRetail, LLC , which is handling the leasing of Bel Air Town Center. “Its proximity to the core population base of Harford County has always offered the stability of continuous visibility and convenient access to Harf- ordCounty residents,” he added. “Now, the added aesthetic im- provements will only enhance the success of the Center and its tenants.” n “We are thrilled to welcome Silver Diner as we continue to build upon our dynamic dining options at The Shops at Waldorf,” said Alex Peker , senior vice president of leas- ing for Madison Marquette, which manages the center. “As one of the best comfort food offerings in the region, Silver Diner is a perfect complement to our lineup of restaurants and cafés.” n
NAI KLNB brokers $900K sale to Atwater’s
Bel Air Town Center
Center represents a strategic decision not only to improve the façade of this Center, but in the long run, to enhance the landscape of this city center tract and to attract the type of tenants and retails specialists that the Bel Air community and government want to have in their neighborhood,” said Trish Heidenreich , director of economic development for the Town of Bel Air. Originally built in 1990 and expanded in 1998 and 2001, Bel Air Town Center was de- signed to cater to the smaller stand-alone space in the cen- ter’s expansion area, which is already under construction. With 15 locations throughout the Washington, DC metro- politan region, this will be its only location in Southern Maryland. Silver Diner is one of sev- eral newly signed and recently opened tenants at Waldorf, a 495,162 s/f open air, neighbor- hood center.
BEL AIR, MD – Bel Air Town Center has received a facelift. The 93,000 s/f neigh- borhood shopping destination, located at the intersection of Routes 1 and 24, has undergone a $1 million renovation and improvement program. Owners, Christopher Kurz and Peter McGill of McGill Development Limited Part- nershipNo.3 , sought toprovide amore colorful, Main Street vil- lage appearance and make the Center more user-friendly for customers and tenants. “This redo of Bel Air Town
Atwater’s location in Bare Hills Business Community
recently announced plans to open a new 2,000 s/f restaurant within The Shops at Canton Crossing in the Canton section of Baltimore City. “Atwater ’s continues to expand and add restaurant locations, and was in need of additional space to support its food preparation and storage operations,” explained Jim Caronna , a principal with NAI KLNB. “This building on WhittingtonAvenue satisfied each of the company’s crite- ria, most importantly its loca- tion near accessible highways that provides immediate access to its Baltimore-area restaurants.” n
BALTIMORE, MD — NAI KLNB has brokered the sale of 2905 Whittington Ave., a 20,000 s/f building in Balti- more City for $900,000. Jim Caronna and Todd Evans of NAI KLNB represented Atwater’s and Adam Wei- dner of CBRE represented the seller, TC Properties in this transaction. Atwater’s, which operates four restaurant locations throughout the greater Baltimore met- ropolitan region, as well as a Ploughboy Kitchen concept intends to convert this former printing facility into a process- ing, distribution and supply op- eration. The restaurant chain
The Shops at Waldorf to welcome Silver Diner WALDORF, MD — The Shops at Waldorf announced that the popular regional diner concept Silver Diner will open its newest location at the suburban Maryland cen- ter. Slated to open in Spring 2014, the Waldorf location will represent a new Silver Diner prototype with an expanded bar offering.
Silver Diner will occupy 6,500 s/f of a newly built,
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