20D — March 2023 — The Best of 2022 — M id A tlantic Real Estate Journal
www.marej.com
The BEST of 2022
Ryan M. Barbacane Hugh Wood, Inc. The BEST INSURANCE BROKER of 2022
Benchmark Construction Co. Penn Medicine Lancaster General Health Emergency Department The LARGEST MEDICAL PROPERTIES PROJECT of 2022
TYPE OF INSURANCE: Proprietary Property & Liability Program for Real Estate Owners, Managers & Developers Hugh Wood, Inc. works not only as a broker, but also as an underwriter. Its unique to also uphold underwriting authority in addition to acting as a broker. When it comes to Risk Management within Commercial Real Estate, Ryan Barbacane is the industry expert. Ryan spends 100% of his time working with Real Estate Owners, Managers & Developers from a Property & Liability standpoint, and his brokerage firm has underwritten a truly unique Property, GL & Umbrella policy that’s is proprietary and exclusive to the insurance industry. Property portfolios Ryan insures include: Office, Industrial/Warehouse, Flex, Mixed Use, High Rise, Retail Complexes, Shopping Centers, Malls, Apartment Buildings, Hotels, Condominiums and more. The stability of this proprietary program offers Owners, Managers & Developers great stability in a hardening insurance market.
Location: Lancaster, PA Size: 170,000 SF
The BEST DIVERSIFIED CRE COMPANY of 2022 The Greysteel Black Professional Network (GBPN) Penn Medicine Lancaster General Hospital needed to expand its existing emergency and food service departments to handle the uptick of patients since the closure of another local hospital as well as the increased hospital care needs due to the global COVID-19 pandemic. This project is a multi-phased addition and renovation to the existing hospital and consists of a temporary emergency entrance, temporary dining facilities, office renovations, a parking garage and drop-off circle reconfiguration, new kitchen, dining, and serving areas, and a new emergency department with renovations of the existing space.
Cost Recovery Solutions LLC Tinton Falls, NJ The BEST VENDOR of 2022
TYPE OF SERVICES: Value-Added Acquisition Services Cost Recovery Solutions LLC (CRS) collaborates with commercial property owners and tenants to reduce their income taxes and realize the highest fair market value of their assets. We specialize in value-added acquisition services including cost segregation studies, energy tax services, tangible asset appraisals and fixed asset reviews. Founded in 2004 and headquar - tered in Tinton Falls, NJ, CRS has successfully completed thousands of projects for virtually all property types throughout the country, with clients ranging from local business owners to Fortune 500 companies. We’ve helped our clients save thousands to millions in income taxes within the retail, healthcare, hotel, banking, automotive, restaurant, recreation and manufacturing industries. Our favorite project in 2022 consisted of performing a cost segregation study for a newly constructed, 131,000 SF indoor entertainment center housing the world’s largest indoor, multi-level go-kart racing tracks. The property also in - cludes axe throwing lanes, a video gaming center, a full-service restaurant, two bars, party rooms and a large viewing mezzanine overlooking the go-kart tracks. Our studies reallocated significant amounts of the building and entertainment assets to reduced depreciation schedules, enabling the owners to realize over $3.5 million in tax savings.
Nigel Crayton Director
Aaron Inman Senior Associate
TC Cosby Director
The Greysteel Black Professional Network (GBPN) was funded by diverse leaders within the company. GBPN aims to promote the growth , success, and retention of the firm’s Black & Minority employees through re - cruitment, education, career development, equity, and inclusion. We’re extremely excited about our current progress in adding new diverse talent. Since the beginning of 2022, Greysteel has hired four full-time corporate-level diverse hires and added two additional diverse hires within our investment sales and capital markets business as well as 2 diverse interns. The Greysteel Black Professional Network will continue to intentionally look to add new and diverse talent and support current team members in 2023 and further. The founders of this group have been showcased in an article with Bisnow and launched a Podcast on Youtube and Apple Podcasts about Diversity in the Commercial Real Estate Industry.
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