2A — March 25 - April 14, 2016 — M id A tlantic
Real Estate Journal
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Advantage Engineers........................................................ 38C American Architecture Window & Door. ........................... 1B ARD Appraisals Co............................................................ 22B Arrow Steel, Inc................................................................. 14B Bayshore Recycling. ......................................................... IC-B Behr Building Services...................................................... 11B Bennett Williams Commercial............................................ 9A Berkadia........................................................................... BC-A Bernardon.......................................................................... 18C BH Security. ...................................................................... 19B Capitol Aerials..................................................................... 2B Case Real Estate Capital.................................................. 40C Castle Lanterra. ................................................................ 13C Colliers International........................................................ 10C Comly Auctions.................................................................... 4A Conifer................................................................................ 26C CREATE............................................................................. 23C Crystal Window & Door Systems, Ltd.. ........................... 12B Curini Appraisal Co.. ........................................................ 19A Cushman & Wakefield........................................................ 9C E.B. Cohen........................................................................... 6B Earth Engineering............................................................... 8A Eastern Union Funding.................................................... 29C Eliott-Lewis........................................................................ 18B Emory Hill Companies........................................................ 1C Environmental Systems.................................................... 19A EnviroSure......................................................................... 33C EPGP.................................................................................... 9B Jewel Electric Supply Co................................................... 10B Equipment Marketers....................................................... 15A Fowler. ............................................................................... 31B Gebroe-Hammer Associates.............................................. 15C Gerard Construction Corp.. .............................................. 20C Greater Reading Economic Partnership.......................... 11C Griffin Alexander............................................................... 23B HFF.................................................................................... 17C Hillcrest Paving & Excavating......................................... 19A Hollenbach Construction................................................... 36C Holt Construction ............................................................. 35C Hutchinson Mechanical Services...................................... 27B Institute of Real Estate Management............................IBCB Integrated Business Systems. ....................................5B, 41C Investors Real Estate Agency........................................... 19A JLL....................................................................................... 5C Kaplin Stewart. ................................................................... 3B Kay Commercial Realty.................................................... 19A Lee & Associates.................................................................. 8C Levin Management............................................................ 21C LEW Corporation. ............................................................... 2B M&E Engineers................................................................. 22C M. Miller & Son................................................................. 13B Marcum.............................................................................. 19A Marcus & Millichap................................................ 19A, BC-C Meridian Capital Group.................................................... 25C Mr. Landlord, Inc.. ............................................................ 21B NAI James E. Hanson......................................................... 3C NAI Summit...............................................................19A, 19C National Realty & Development Corp................................ 6A NJAA.................................................................................. 17A P. Cooper Roofing. ........................................................... BC-B Poskanzer Skott Architects................................................. 4B Premier Compaction Systems........................................... 26B Prism Capital Partners..................................................... 39C Progress Capital Advisors................................................. 16C RD Management...................................................12-13A, 37C Red Marketing Communications........................................ 6A Regal Bank......................................................................... 16B Rittenhouse Capital Advisors............................................. 4A Rittenhouse Realty Advisors. .......................................... IC-C ROCK Commercial Real Estate.......................................... 3A Sitar Auctions.................................................................... 16A Specialty Building Systems.............................................. 15B Subway................................................................................. 7A Sweetwater Construction Corp......................................... 34C The Garibaldi Group........................................................... 7C The Kislak Company...................................................17B, 4C The Prestige Group. ............................................................ 2A Total Cleaning Associates, Ltd........................................... 2B Traffic Planning & Design................................................ 10A WBG Commercial Lending............................................... 19A Whitesell.............................................................................. 3A MAREJ A dvertisers D irectory
M id A tlantic Real Estate Journal
M id A tlantic R eal E state J ournal Publisher .................................................................Linda Christman Publisher ....................................................................Joe Christman Senior Editor/Graphic Artist ..................................... Karen Vachon Production Assistant/Graphic Artist ............................... Julie King Associate Publisher ................................................. Alissa Aronson Associate Publisher ...................................................Eric Ballenger Associate Publisher .............................................. Barbara Holyoke Associate Publisher .....................................................Steve Kelley Office Manager .........................................................Joanne Gavaza Contributing Columnist . .............................................Robert Sobol Mid Atlantic R eal E state J ournal ~ Published Semi-Monthly Periodicals postage paid at Rockland, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, 312 Market St. Rockand, MA 02370 USPS #22-358 | Vol. 28 Issue 6 Subscription rates: $99 - one year, $198 - two years, $4 - single copy
Robert Sobol
A New View on Old Sites
“ Contaminated” is no lon- ger a dirty word. Less than a decade ago commercial real estate developers would not even consider purchasing property that did not have a clean bill of health from the New Jersey Department of Environmental Protection (NJDEP). Brownfields or Su- perfund sites were not seen as viable locations for commercial development. Furthermore, banks would never approve loans to purchase property that did not fully comply with NJDEP cleanup standards. But what a difference a de- cade makes. Now, due to the scarcity of available land in prime loca- tions developers are seeing opportunities in areas once considered forbidden and for- gotten territory. Industrial zoned land in close proximity to the Ports of Newark and Elizabeth has become very desirable for development. According to the authors of The Port Support Zone Act of
REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion
The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
2015 “Upon the completion of the Panama Canal expan- sion project, there will be an increase in demand along the Eastern Seaboard for ports to accommodate Post-Panamax and Super Post-Panamax ships” thus making the area surrounding the ports even more desirable to developers of warehouse and distribution space. The problem with land sur- rounding the ports is that for decades it has been the dumping ground for all things toxic. Prior to the advent of the United States Environmental
Protection Agency (USEPA) there was little or no regula- tion and oversight for the disposal of toxic byproducts by heavy industrial manufac- turers. This lack of regulation enabled companies to dispose of hazardous material in the most economical and conve- nient ways possible. For many companies this meant burying toxic waste in the “backyard” or flushing it into the nearest stream as standard operating procedure. Although strict NJDEP laws have helped to ensure a continued on page 18A
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