Real Estate Journal — Owners, Developers & Managers — April 29 - May 12, 2016 — 7B
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M id A tlantic
O wners , D evelopers & M anagers Martin of Chalmers and Peterson of Windsor Realty assist in the transaction Rothman&CarlinoCommercialDevelopmentpartner to transform 510 Twp. Line Road in Blue Bell, PA
LUE BELL, PA — Carlino Commercial Development , a re- gional commercial developer and The Rothman Institute , an orthopedic care provider, today announced the purchase of a 88,000 s/f office building in Blue Bell. 510 Township Line Road currently houses local businesses and profes- sional associations including Fox Chase Bank, TransCentra Software and the law offices of Salvo Rogers and Elinski. Plans call for a complete redevelopment of the build- ing, including a repositioning of its core and shell, and up- graded amenities to include a B R e s t r o o m s , equal access & core efficiency continued from page 2B
shared conference room that seats 40, a fitness center, and WiFi lounge. In addition, the lobby will be completely up- graded and span the length of the building, and the site will feature new landscaping, lighting, and enhanced park- ing areas will be completed. Lastly, a new, state-of-the-art internal heating and cooling system will be installed with individual controls for each tenant. The total cost of the renovations is estimated at $4.3 million. Once the rehabilitation is completed, the Rothman In-
stitute will occupy 17,000 s/f. “We are thrilled to partner with such a prominent and highly respected organization like the Rothman Institute,” said Peter Miller , president of Carlino Commercial De- velopment. “This building sits in a perfect location – it is convenient, and easily ac- cessible, and once it is fully renovated, it will serve as the heart of a vibrant and thriving community.” Scott Martin of Markeim Chalmers and R. Scott Pe- terson of Windsor Realty assisted in the transaction. n
510 Township Line Road
25 Stiles St., Elizabeth
33%, construction costs will be lower and plumbing repair and replacement costs will be lower. Lastly, four rather than eight restrooms will need to be stocked and cleaned, which will reduce janitorial expenses on an ongoing basis. The commercial real estate industry has an historic op- portunity to partner with pro- gressive politicians and en- vironmentalists in a manner that ensure equal access, and will increase the efficiency and competitiveness of properties, lower construction costs, and reduce repair & maintenance expenses. David L. Church, CCIM is managing principal at DLCommercial Real Estate Advisors, LLC. n Tolinal - Toilet &Urinal combination Renderings by Gabor Baranyai
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