10C — October 11 - 24, 2013 — Pennsylvania — Mid Atlantic Real Estate Journal


E astern PA

Including 13,142 s/f at 6620 Grant Way in Allentown Adams of Nai Summit completes 17,500 s/f in leases

Mears of The Flynn Co. represents tenant RedGo Development leases 12,000 s/f of office space

WEST GOSHEN, PA — Peirce-Phelps, one of the 50 largest distributors of heating, ventilating and air condition equipment in the country, has leased approximately 12,000 s/ f of office and industrial space within at 101 Willowbrook Lane in the Willowbrook Busi- ness Park here. Fred Goebert, president of RedGo Development and partial owner of Willowbrook

Business Park, announced the 10-year lease agreement that will expand Peirce-Phelps sales, service and distribution operations from 100 Willow- brook Lane to the adjacent structure. BrianMears with The Flynn Company represented Peirce- Phelps in negotiating the long-term lease that has an aggregate value exceeding $1 million. n


llentown, PA — NAI Summit’s Mike Adams represented

the owner, K Matkem Com- pany, of 6620 Grant Way in Allentown, in a 5 year lease transaction with ProtoCAM. ProtoCAM plans to utilize the 13,142 s/f space to provide a full service rapid prototyping service bureau using a wide range of rapid prototyping technologies and materials. In addtion, Adams repre- sented the owner, Jeffrey & Raine Fussner, of 1336 W. Gordon St., in the 6 year lease transaction with Our Little

NorthMarq arranges $24.2m mortgage for Water Tower Square

6620 Grant Way in Allentown, PA

Montgomeryville, PA — Philip Deeter , senior vice president and manag-

Einsteins. The new tenant plans to use the 4,400 s/f space

to offer child care to the sur- rounding area. n

Water Tower Square

agency be present during our storm water infiltration test- ing. Why should you pay your professional with a license and insurance to perform testing and also pay another profes- sional to watch you do it? It is a waste of effort and money but you should ask going into your project. The same goes for construction inspection and oversight. If your design engineer is required to inspect erosion control and storm- water installations then you should not be paying another consultant to do the same. This should be discussed at the onset of a project. Eliminating hours or days of construction oversight can save thousands of dollars. Denny L. Howell, PE, is president of D.L. Howell and Associates, Inc. n continued from page 6C Top 5 Ways to control engineering costs, written . . . Home Depot, Office Max, and Planet Fitness are ma- jor tenants at this property. Financing was based on a 10- year term and a 30-year amor- tization schedule. NorthMarq arranged the financing for the borrower through its relation- ship with a CMBS lender. n ing director of NorthMarq’s Philadelphia regional of- fice, arranged refinancing of $24.2 million for Water Tower Square, a 262,788 s/f retail center located in Montgom- eryville.

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