4B — August 30 - September 12, 2013 — Owners, Developers & Managers — Mid Atlantic Real Estate Journal
www.marejournal.com O WNERS , D EVELOPERS & M ANAGERS Trends include rising rents in Essex County, NJ Gebroe-Hammer Associates’ sales top $93m in past 12 mos. N EWARK , NJ — Against the back- drop of steadily ris-
Strategic leadership actions to fire up . . . “Meanwhile, savvy inves- tors are seizing upon this lifestyle trend to renovate their buildings in order to attract an even wider renter pool. The result is strong and stable occupancy rates and a growing number of potential investors in these proper- ties,” he added. ■ from American journalist, Linda Ellerbee that I believe sums up a great approach to- ward getting fired up during change: “What I like most about change is that it’s a synonym for ‘hope’. If you are taking a risk, what you are saying is “I believe in tomorrow and I will be part of it.” Glenn Ebersole, P.E. is strategic vice president, business development/mar- keting at Hollenbach Con- struction, Inc., an award winning design/build, con- struction management, general contracting orga- nization headquartered in Boyertown, PA. ■ continued from page 2B and four-bedroom units. The units, roof and windows all have recently been updated. A grocery store occupies the ground-floor space, which is leased through 2017. According to Jarvis, the property was on the market for only four months. “This is representative of a trend we are seeing in Newark and surrounding municipalities throughout Essex County,” said the inner-city market specialist. “We were able to successfully match this build- ing with the buyer, who is a veteran property owner with other assets in the area.” The latest sale follows a trio of recent Newark-area transactions arranged by the Livingston, N.J.-based firm involving mid-rise residen- tial properties totaling 124 units. “The economics of this region – and its urban centers in particular – continue to evolve as this employment hub gains momentum. New- ark has become a magnet for tenants seeking all the benefits associated with an urban lifestyle, without the high price tag of New York City,” said Jarvis.
ing apartment rents and diminishing availability of for-sale multi-family product in Essex County, Gebroe- Hammer Associates has orchestrated more than $93 million in transactions dur- ing the past 12 months. In the latest transaction, the brokerage team of David Jarvis , executive vice presi- dent, and Stephen Tragash , sales associate, arranged the trade of 21 multi-family units and one commercial unit in
David Jarvis Stephen Tragash
the heart of Newark. Gebroe-Hammer repre- sented the seller, a new cli- ent, and procured the buyer, a long-time client. The four-sto- ry building consists of eight one-bedroom, 11 two-bed- room and one each of three-
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