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- DC

Focusing on the Mid-Atlantic area Pennmark Mgmt. Co. raises $60m for 6thMid-Atlantic U.S. Real Estate Fund P lymouth Meet- ing, PA — Penn- mark founder Donald

ISSUE HIGHLIGHTS Volume 28 Issue 1 January 15 - 28, 2016 2016 Forecast

Cafiero announced that it has raised $60 million for its real estate fund, reaching the fund’s hard cap. Focused on the Mid-Atlantic area of the U.S., the Pennmark team of investment professionals makes opportunistic invest- ments across retail centers in secondary and tertiary markets. "The Clearfield area is seeing great benefits from having Pennmark investing in Clearfield County. The improvements Pennmark is making to their commercial retail properties are helping to create jobs and are hav- ing a positive impact on our community," said Mark Mc- Cracken, Clearfield County Commissioner. Pennmark’s five prior funds have been active in most ar- eas of commercial real estate including, retail, office, in- dustrial, flex, the hospitality industry and most recently,

conversion of prior uses to first class medical centers in areas such as Beaver Falls, Waynesburg and Sewell, NJ. According to Pennmark, The Pennmark Process that is at the heart of their success in managing numerous commer- cial properties throughout the Delaware Valley, which brings together strong site selection, creative leasing solutions and a thorough design and construction implementation. Christopher Cafiero , VP of construction and property management at Pennmark is able to plan and construct medical centers at generally half the cost of major medical

agencies. “The community of Wash- ington Court House is thrilled with a retail tenant for the PennMark property on Co- lumbus Ave. Successful re- purposing of former big box retail locations is never easy and requires an owner with vision and a local commu- nity willing to work with the property owner. In our case, Washington Court House and PennMark were a great fit,” said Joe Denen city manager Washington Courthouse, Ohio Robert Sichelstiel , CFO and broker of record at Pen- nmark has been with the team since 1994, said, “We appreci- the Navy League of the United States to the highest stan- dards,” said Mudd. “The qual- ity of construction, the location, its mix of tenants, and the fact that it is the headquarters for the Navy League of the United States attracted strong lender interest frommultiple sources.” Located in Arlington County, the Navy League Building is located one block from the Courthouse Metrorail station. It was the first office building in Arlington to pursue LEED Silver Certification by the U.S. Green Building Coun- cil . Green features include bicycle racks and cages in the four-level parking garage, two ADA-compliant locker/chang- ing rooms with shower facili- ties, reserved parking spaces for carpoolers, and electric car charging stations. Tenants include Bean Kin- ney & Koman, P.C., NOVA Transportation Commission,

ate the strong support of our communities and local govern- ment agencies. We believe the robust interest in rural com- munities is an acknowledge- ment of our successful focus on opportunistic investments in real estate, and we look forward to continuing to cre- ate value in our portfolio.” Dr. William Grigsby Ph.D., com- munity development liason said, “I have always insisted on creating value within small local communities, and rural places where we are invested in. Pennmark gives back and provides direct support to the communities in which it works in.” n Associated General Contractors of America, and Navy League of the United States. Retail amenities include Bank of Georgetown, Ray’s the Steaks, John Marshall Bank, Mejana, and Five Guys. The Navy League of the Unit- ed States is a private, nonprof- it, civilian organization that serves, supports and stands with the U.S. sea services — the Navy, Marine Corps, Coast Guard and U.S.-flag Merchant Marine. It was founded in 1902 with the encouragement of President Theodore Roosevelt. The Navy League has provided a powerful voice for a stronger sea service to Congress and to the American people. The Navy League has grown into the foremost citizens’ organiza- tion to serve, support and stand with all the sea services – the U.S. Navy, U.S. Marine Corps, U.S. Coast Guard and U.S.-flag Merchant Marine. n

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Cushman & Wakefield’s Mudd & Geiger represent Navy League in $60m financing

Arlington, VA — Cush- man&Wakefield has secured $60 million in financing for the Navy League Building, located at 2300Wilson Blvd., a 198,865 s/f, class A, mixed-use office building located in Arlington. Executive managing director

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Mid Atlantic R eal E state J ournal Publisher ............................................................................ Linda Christman Publisher ............................................................................... Joe Christman Associate Publisher ................................................................ Steve Kelley Associate Publisher .............................................................Alissa Aronson Associate Publisher ..........................................................Barbara Holyoke Senior Editor/Graphic Artist .................................................Karen Vachon Production Assistant ....................................................................Julie King Office Manager .................................................................... Joanne Gavaza Guest Columnist ..................... ............................................. Ken Uranowitz 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. Rockland, MA 02370 USPS #22-358 | Vol. 28 Issue 1 Subscription rates: $99 - one year, $148 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Toll-Free: (800) 584-1062 | MA: (781) 871-5298 | Fax: (781) 871-5299 www.marejournal.com The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal

Mid Atlantic Real Estate Journal

The Fed’s Interest Rate Hike Optimal Multi-Family Investing Pace &Performance to Continue Ken Uranowitz I n light of the Federal Re- serve’s official announce- ment of an interest rate hike yesterday, KenUranowitz, president of Gebroe-Hammer Associates, offers the following commentary regarding how this move is expected to impact multi-family investments. This is the first time in over nine years the Fed is lifting rates thanks to a steadily growing economy. Since December, 2008, rates have hovered be- tween zero and 0.25 percent. “The interest rate increase has been anticipated for quite some time and has been essen- tially ‘built into’ rates already. This is particularly applicable to the past few months when the 10-year treasury ramped up almost 20-25 basis points, up to and including today, post announcement. “At this time it is more of a milestone in the nation’s economic resilience, from one of the worst recessions in our history, rather than having any real impact on the multi-family ELMWOOD PARK, NJ — The New Jersey Division of Lee & Associates donated hundreds of pieces of business attire to Suits for Success, a non-profit organization based in Jersey City. Suits for Suc- cess provides a myriad of ser- vices, such as interview suits, workshops, resume writing, career training and develop- ment to low-income and disad- vantaged men women. Lee & Associates, NJ, one of the largest commercial real estate firms in the state, is passionate and committed to helping the community. For the past several months, the company launched its 2nd Annual Clothing Drive among their employees and extended families and offices in their corporate building complex to benefit the local Bergen and Hudson chapter of the non- profit. “I am very pleased with the employees at Lee & Associ- ates who worked tirelessly to collect clothes and it was a team effort all around. Even our clients and families do-

industry, as a whole. While the cost of debt may increase ever so slightly with increased spreads, it will not dramati- cally affect apartment-building values or cap rates to any great extent. This is because record overwhelming demand for multi-family investments continues to outpace supply of for-sale product – and the gap is only widening. Market-rate rents throughout the New York/New Jersey metro area continue to escalate and will more than compensate for any increases in debt-service costs. “Homeownership will be- come even more unattainable, not just from an economic impact but also, and perhaps more importantly, from a

psychological vantage point. Simply put, the cost of home ownership just became more expensive yesterday along with continued strict lending standards for potential home buyers. This bodes well for multi-family since it strength- ens an already strong tenant pool and creates conditions for it to magnify. “Throughout the course of history – from recessionary to booming economies – apart- ment buildings have dem- onstrated their ‘investment stability and unwavering asset strength’ by consistently per- forming on the plus side of the balance sheet, rendering them the most favored commercial real estate investment.” n

Lee&Associates, NJ2 nd annual clothes drive helps benefit Suits For Success

Shown from left to right: Marilyn Morales, Development Officer/Suits for Success, Nilsa Rohaidy, Executive Director/Suits for Success, Rick Marchisio, President/Lee & Associates, NJ, Jason Lynch, Executive Vice President/Principal, Lee & Associates, NJ, and Jessica Vasil/As- sistant Vice President, Lee & Associates, NJ. photo credit: Ian Wilson

nated clothes. It is all about first impressions in a job in- terview and we were happy to donate suits and other business outfits that will help do this. In this time of year, it is important to give back and help those who are not as fortunate,” remarks Richard Marchisio , president of Lee & Associates, NJ. According to Nilsa Rohaidy, executive director of Suits for

Success, the clothes drive far exceeded her expectations. “To see racks and racks of business suits and shoes and ties and miscellaneous fashion items nearly fill an entire con- ference room nearly took my breath away,” she explains. We are so grateful that Lee & Associates, NJ is behind this organization 100 percent and our collaboration will really help those in need.” n

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M id A tlantic R eal E state J ournal On ±2,000 acres in Newton Falls, New York Binswanger brokers sale of 350,000± s/f industrial building

“Ask the Professor”

In commercial real estate financing, determining how to calculate the monthly mortgage payment is vital. You must know what the loan amount, interest rate, maturity date and amortization period are. Knowing how to input these variables into a financial calculator will provide you with that payment amount and allow you to determine if the property has sufficient cash flow to support the mortgage payments. Take a look at the question below and select the correct answer. mortgage financing. You are offered 2 loans; they both have the same $1,000,000 loan amount, 3% interest rate and 10 year term (maturity date), but different amortization schedules. Loan A has a 25 year amortization period and Loan B has a 30 year amortization period. From your perspective as a borrower, A) The advantage of Loan A is lower monthly payments and a lower ending loan balance due at the maturity date. B) The advantage of Loan B is lower monthly payments and a lower ending loan balance due at the maturity date. C) The advantage of Loan A is lower monthly payments but its disadvantage is a higher ending loan balance due at the maturity date. D) The advantage of Loan B is lower monthly payments but its disadvantage is a higher ending loan balance due at the maturity date. payments than a 25 year amortization period since the mortgage payments run over a longer period of time. Conversely, with a 30 year amortization period, more of those mortgage payments will be credited to interest and less to principal resulting in a higher ending principal loan balance. The correct answer is “D”. Assume you are purchasing a commercial building and require A 30 year amortization period will provide for smaller monthly mortgage

N ewton Falls, NY – On behalf of Newton Falls Fine Paper, LLC, Binswanger announced the sale of a 350,000± s/f produc- tion/warehouse facility on ap- proximately 2,000 acres in St. Lawrence County. The prop- erty is located at 875 County Rd. 60 in Newton Falls. The property was purchased by Abacus Financial for rede- velopment purposes. Abacus Financial is an investment firm specializing in the acqui- sition of value added operat- ing companies and commer- cial real estate. The property is located New York, NY — Tit- leVest , a title company and member of the First American

875 County Rd. 60

less than three miles from Route 3, in the heart of the Adirondack State Park and surrounded by ±2,000 acres of park-like land with rivers, Oberweger brings to Title- Vest more than 10 years of experience at leading national title insurance companies in the areas of commercial, retail, energy, industrial, hotel, gam- ing, office, multi-family and residential real estate transac- tions. “I am excited to embark on this new chapter with Title- Vest,” said Oberweger. “Tit- leVest’s reputation for stel- lar customer service and the company’s use of cutting-edge

lakes and forests. The transaction was han- dled by Jim Panczykowski , executive VP in Binswanger’s New Haven, CT office. n technology to maximize speed and efficiency aligns with my vision for providing value in today’s marketplace.” “Timothy is extremely well- versed in the complexities of title insurance as they relate to the real estate industry as a whole,” said Brian Tormey, president of TitleVest. “I look forward to working alongside Timothy on new business de- velopment strategy, as well as on enhancing the TitleVest experience for our existing cli- ent base.” n

Business Development Executive Oberweger joins TitleVest ness in NY.

f am i l y o f companies, announced that Timo- thy Ober- weger, Esq. has joined t h e t e a m as manag- ing director

Timothy Oberweger

of business development and counsel. In this role, he will focus on generating title busi-

Firmly Rooted in the Law and in the Community We are well grounded in every facet of real estate law, from acquisition to construction. We are committed to serving the needs of our clients and our communities.

Ronald M. Shapiro is Assistant Professor of Professional Practice in the Finance and

Economics Department at Rutgers Business School of NewarkandNewBrunswick. He teaches real estate finance. Prior to Rutgers Business School, Ron was SVP with Union Center

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M id A tlantic R eal E state J ournal PFWeiss Realty reps. 911 Group LLC in office/flex space The FrederickGroup’s Cihylik, CCIM closes over $12.945m N azareth, PA — Ron Eichenberg , managing director,

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Stefan Cihylik, CCIM of The Frederick Group repre- sented the buyers, TCH Realty & Development Co., LLC in a $12.945 million transaction including the sale of 5415 Hamilton Blvd. (4.6 acres), 735 Krocks Ct. (12.29 acres), 5375 Hamilton Blvd. (1.46 acres), and 5285 Hamilton Blvd. (35.03 acres). The total 53.38 acres of commercial land, all located in Allentown, was formerly owned by the Roman Catholic Diocese and is soon to be Hamilton Crossing, featur- ing Costco, Whole Foods, and Target. Cihylik in cooperation with

Wendy Karopoulos , both of The Frederick Group, also represented the buyers, TCH Realty & Development Co., LLC, in a $1.65 million trans- action involving the sale of 5087 Hamilton Blvd. located in Allentown. The 7.78 acre parcel of commercial land was formerly owned by Kim Jon Chung Duk Suk Kim. Mary Beth Dolinich of The Frederick Group represented the sellers, Robert and Theresa Jurchenko, in the $950,000 sale of 4345 Independence Dr. in Schnecksville. Paul F. Weiss of PF Weiss Realty, LLC represented the buyer, 911 Group LLC in the pur- chase of this 19,344 s/f office/ warehouse/flex space. Eichenberg represented the sellers, Wescosville Real Es- tate Associates, in the sale of 682 N. Brookside Rd. Al- lentown. Chris Raad from Harvey Z Raad Realtors represented the buyers, Sky Brookside Investments LLC, in this $965,000 sale of a 21,000 s/f office building. Karopoulos represented both parties in the lease of the com- mercial retail building located at 100 S. Wyoming Ave. in Kingston. The new tenant of the y 48,528 s/f space, a na- tional auto parts store, signed a 15 year lease with the owner, Baxturmor, LLC for a total of $1,317,520. Carrie Ward of The Fred- erick Group represented the buyers, Red Letter Properties LLC, in the $975,000 sale of the property located at 210- 214 N. 6th St. in Allentown. George Raad of Harvey Z Raad Realtors represented the previous owners, United Raad & Balliet Investments, LP, in the sale of said property. Karopoulos represented the buyers, Parkway Donuts Inc., in the $525,000 sale of a prop- erty located at 1547 Lehigh St. in Allentown. In the $1.925 million sale of a property located at 1788 Vultee St., Dolinich repre- sented the buyers, Carpenters Join Apprenticeship & Train- ing Fund of Philadelphia & Vi- cinity. The property, listed by Stephen Bonge of Newark Grubb Knight Frank , was previously owned by Victaulic Company. In the $1.3 million sale of the property located at 6299 PA Rte. 309 in Heidelberg Twp., David Bodnar of The Fred- erick Group represented the buyers known as DDDT LLC. n

ann o un c e d The Freder- ick Group closed over $33 million in commer- cial sales and leases dur- ing the year 2015.

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Doug Frederick of The Frederick Group represented the sellers in the $1.45 million sale of an 18.26 acre parcel located at 730 Bangor Rd. in Nazareth.

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FCP & Kane complete 2.5 acre acquisition

951,897 s/f property for $147.5 million in Virginia Hertz Investment Group acquires Riverfront Plaza R

ichmond, VA — Hertz Investment Group announced the acquisition of Riverfront Plaza, a two-tower 22-story class A office complex located next to the picturesque James River in downtown Richmond, VA. Hertz purchased the 951,897 s/f property for $147.5 million. Riverfront Plaza is currently 72-percent leased with a tenant mix that includes law, account- ing and banking firms. The purchase is the first for Hertz in the Richmond Central Business District. The company established a presence in the market with its 2012 purchase of 400,000 s/f of suburban as- sets in Chesterfield County. Riverfront Plaza, located in the 900 block of E. Byrd St., sits adjacent to the Federal Reserve Bank of Richmond and just four blocks from the Supreme Court of Appeals and the U.S. Court of Appeals. The landmark property was built in 1990 and underwent a renovation in 2014. Riverfront Plaza, one of just two institu- tional office buildings along the James River, includes a landscaped open-air pedestrian mall as well as a five-story 2,172-space underground park- ing garage. n Pasadena, MD — The Hampshire Companies an- nounced the sale of a 319,519 s/f retail center known as the Pasadena Crossroads, located at 8070 Governor Ritchie Hwy. in Pasadena, MD, to The Sterling Organization. The fully-leased, highly vis- ible retail center is anchored by Shoppers Food Warehouse, Kmart and LA Fitness. The 28-acre property was renovated in 2008 and is in close proximity to I-97 as well as the Baltimore Central Business District and the Bal- timore-Washington Interna- tional Airport. The Pasadena Crossroads boasts prominent frontage on Ritchie Highway and Jumper’s Hole Road and is a community fixture in a

Dillon Supply rendering

Raleigh, NC — Fed- eral Capital Partners (FCP) , with joint venture partner and developer Kane Realty Corporation (Kane) , has completed the acquisition of the 2.5 acre Dillon Supply site in the Warehouse District of downtown Raleigh. Along with Union Station, the mixed-use project will transform a district benefiting from growing popu- larity and a retail resurgence but lacking the residential and office density needed for 24/7 vibrancy. Bounded by S. West St., W. Martin St., S. Harrington St. and W. Hargett St., The Dillon redevelopment, when complete, will include a 210,000 s/f , 17-story class A office tower, 40,000 s/f of retail and two six-story, apartment buildings comprising 261 units “The Dillon development will be a catalyst for the continued

evolution and growth of Ra- leigh’s dynamic warehouse dis- trict,” said FCP vice president, Bryan Kane . “We are excited to be moving forward on another investment with Kane Realty, who continues to demonstrate a passion for Raleigh’s future and the expertise to deliver the right product.” T.J. Barringer , develop- ment director at Kane Realty added, “The design of The Dil- lon reflects the extraordinary talents of the Duda Paine, J. Davis and Clearscape teams, and will result in a landmark building for all of Raleigh. This building will be highly attrac- tive to creative class talent, who will find this the ideal location to work, live and play.” FCP and Kane extend their appreciation to Justin Good and Allan Lynch of HFF for their representation. n with Emory Hill for more than ten years. Prior to that he was with High Construction of Lan- caster, PA, where he spent six years leading a project manage- ment group. Prior to working at HCI, Mike was with Emory Hill for eleven years as a construc- tion manager, responsible for approximately three million square feet of commercial, resi- dential and industrial construc- tion in Delaware. The projects Eshleman has managed for Emory Hill have included the 648-unit Chris- tiana Meadows Apartment complex; the Omega Medical Center Condominiums; two buildings at the Centerpoint Industrial complex; 30,000 s/f of flex space at the White Clay Center; and the ten-building Corporate Commons office park. n

Eshleman rejoins Emory Hill & Company as project manager

Riverfront Plaza

The Hampshire Companies unloads fully- leased 319,519 s/f retail center in Maryland

NEW CASTLE, DE – Em- ory Hill & Company an- nounced that Mike Eshleman

has rejoined the firm as a project man- ager. Eshleman is returning t o E m o r y H i l l a f t e r three years at Warfel Con-

Pasadena Crossroads

Mike Eshleman

market with strong overall demographics. “The sale of Pasadena Cross- roads was driven by extremely competitive market conditions and recent favorable sales,” said Igor Derbaremdiker, Transactions Manager at The Hampshire Companies. “Ex- ecuting our proven investment strategy coupled with the center’s strong performance,

diversified tenant mix, and macroeconomic conditions al- lowed us to identify an oppor- tunity to maximize economic returns for our investors.” American East Real Es- tate Company LLC, How- ard Stotsky Real Estate Investments and KLNB Retail represented The Hampshire Companies in the transaction. n

struction Company as their op- erations manager responsible for coordinating field opera- tions. This included reviewing schedules and cost projec- tions with superintendents and project managers as well as scheduling field personnel and acting as liaison between office and field staff. Mike has more than 40 years of construction experience and was previously

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D el M ar V a

Wilmington, DE — NAI Emory Hill sold the Stoney Batter Office Complex on Lime- stone Rd. in Wilmington to 5301 Properties, LLC. The 45,399 s/f class A office build- ing, located on 6.1 acres with 222 parking spaces, was pre- viously owned by Rockford Limestone, LLC. NAI Emory Hill sells Stoney Batter office complex Tenants in the building in- clude Simon Eye Care, Lab Corp, Edward Jones & Co., Meridian Bank and Crown, Cork and Seal. NAI Emory Hill commercial real estate agents Jim O’Hara, Jr., Jim O’Hara III and KevinO’Hara represented both the buyer and seller in the sale transaction. n ARLINGTON, VA — FD Stonewater announced that William Magner joined the firm’s Board of Advisors and will be actively involved in the organization’s continued ex- pansion. In particular, Bill will assist with growing the inves- tor base within the firm’s na- tionwide principal investment and development platforms. Magner has a distinguished Magner joins FDStonewater history in the commercial real estate industry having most recently served as the U.S. President for Cushman & Wakefield. Prior to Cush- man &Wakefield, Magner was an international director for Jones Lang Lasalle (JLL) and Spaulding & Slye, where he served as a Managing Partner of the DC Region prior to JLL’s acquisition of the firm. n Newmark Grubb Knight Frank brokers 26,500 s/f lease

Ryan, Kornick & Vredenburgh represents seller Avison Young completes sale of Park Stone Place in Chantilly C

hantilly, VA — Avison Young an- nounced the sale of Park Stone Place, which is located in the Washington, DC suburb of Chantilly. Park Stone Place is a class A office building located at 5155 Parkstone Dr. in the campus setting of Westfields Business Park in the Northern VA Rte. 28 South submarket. The sale represents the third office building sold by Avison Young in Northern Virginia in the past 90 days. The 75,838 s/f building is 100% leased to Accenture Fed- eral Services. The property was acquired by EPIC US, LLC. Avison Young principals Chip Ryan and Jim Kor- nick along with Associate Matt Vredenburgh , based in the firm’s Washington, DC office, represented the seller, WILMINGTON, DE — Rockford Capital Partners announced the sale of Stoney Batter Office Building, a class A office building located at 5301 Limestone Rd. in Wilm- ington. Stoney Batter Office Build- ing is comprised of 45,399 rentable s/f and sits on a 6.1

Park Stone Place

said Ryan. “The long-term stability of the tenancy, the building quality and the superb location inWestfields Business Park contributed to the proj- ect’s aggressive cap rate and sales price,” said Ryan. n to a range of tenants, including medical, insurance, and real estate users. The building was sold to 5301 Properties LLC. Rockford Capital is actively pursuing additional value- add investment opportunities throughout the Mid-Atlantic and eastern regions. n ternationally. SVN now has over 1,400 advisors and staff in nearly 200 offices around the world. The company will continue to stand apart from the industry in its belief that commercial real estate should be practiced in an open and collaborative fashion. “As the youngest of the top 10 brands in our industry, we have the advantage of being born in the age of the Internet, so it’s very natural for us to leverage tech- nology and our value networks to bring unique opportunities to all our stakeholders”, said Maggiacomo. The SVN brand name and new logo will roll out globally over the next 12-18 months. n Rockford Capital sells Wilmington, DEOffice Property acre parcel in the Wilmington suburb of Pike Creek. Rock- ford Capital, on behalf of its sponsored investment vehicle Rockford Real Estate Fund I, L.P. , acquired the building in May 2012, at which time it was 87% occupied. At the time of the sale, 100% of the two-story building was leased SALISBURY, MD — Sper- ry Van Ness (SVNIC) has an- nounced that it is changing its signature brand name to SVN . The Sperry Van Ness brand was launched in 1987 out of a desire to improve the com- mercial real estate industry for all stakeholders. The com- pany became a national fran- chise operation in 2003. A few years later, one of the original partners left the business. In 2010, Mark Van Ness , the founder and 22-year CEO retired and promoted Kevin Maggiacomo to president & CEO. Since then the company has added more than 100 of- fices, developed and adopted award winning, leading-edge Sperry Van Ness International Corporation brand is now SVN technology systems, launched new service lines and expanded across the globe. “We have been growing ser- vices and offices internation- ally and are transitioning to a name that will be easily recognizable around the world, while remaining true to the values that make our people, our platform and our purpose so unique,” said Maggiacomo, “We’ve been calling ourselves SVN for decades and our web domain has always been svn. com, so making SVN our offi- cial name is very natural.” With 28 years in operation, SVN is celebrating record growth in 2015 by adding 25 offices nationally and in- Cambridge and West Ocean City. Kraus Props. realized that uses such as a convenience store with fuel, hotels, fast foods, and casual dining are sorely needed in this section of the county. Lots will be available for sale or land lease, and each lot will have water, sewer and natural gas available. n SVN – Miller’s McClellan sells land for a hwy. commercial park SALISBURY, MD – John McClellan, CCIM , senior advi- sor with SVN – Miller Commer- cial Real Estate in Salisbury, MD recently closed on the purchase of a land deal with Baltimore-based Kraus Props., LLC. Kraus purchased a 26.35 acre parcel located along the Rte. 50 bypass at the Naylor Mill interchange. The land is being planned for a highway commercial park, targeting commercial, service and industrial uses that desire high visibility, easy transporta- tion access, and a high traffic location. From a beach traffic perspective, convenient services are extremely limited between a local investor. All three are members of the firm’s national capital markets team. “This transaction illustrates the ongoing investor demand for assets leased over the long term to credit-worthy tenants,”

players in agency leasing, tenant representation and capital markets in the past two years and remain commit- ted to growing with the addi- tion of top talent,” said Barry Gosin, chief executive officer of Newmark Grubb Knight Frank. “Cris and his team have an enviable track record in investment sales, debt and equity advisory and transac- tion management services, and bringing them on board marks another milestone that strengthens our positioning in Baltimore and in the region.” “I am thrilled to become a part of NGKF Capital Mar- kets,” said Abramson, who leads the sought-after team. “As a leading and growing national capital markets pro- vider, it was the ideal choice. Newmark Grubb Knight Frank’s premier global plat- form will bring immense value to my team and our clients.” Abramson brings over 15 years of sales experience, with a focus in office, industrial and flex properties, to NGKF Capital Markets. Kruger brings several years of capital markets experience to the NGKF Maryland office, specializing in investment sales, debt and equity advi- sory and transaction manage- ment services. Signor joins NGKF Capital Markets specializing in in- vestment sales, debt and eq- uity advisory and transaction management services, with a focus on industrial and office investment sales. n

Washington, DC — Newmark Grubb Knight Frank (NGKF) represented owners Quadrangle Devel- opment Corporation (Quad- rangle) and Oxford Proper- ties Group in a joint venture lease to Optoro in Washing- ton Center. The 355,000 s/f, class A building is located at 1001 G St., NW DC. Optoro will occupy 26,500 s/f on the 12th floor. NGKF’s Brendan Owen, George Vogelei and Rafael Notario represented the ownership in this trans- action. “We are pleased to welcome this growing tech firm to our strong tenant base at Wash- ington Center,” said Quad- rangle President, Christopher Gladstone. Baltimore, MD — NGKF Capital Markets continues to bolster its na- tional presence with the re- cent addition of Cristopher Abramson as executive man- aging director-Investment sales, Brian Kruger as se- nior managing director and Nicholas Signor as director to the Baltimore office. The heavy-hitting trio is prolific in industrial, office and land investment sales within the Maryland market. Abramson has executed some of Mary- land’s largest sales to date and has completed $3 billion worth of transactions in the Baltimore-Washington metro area. “We have significantly strengthened our team in the Mid-Atlantic region with the hiring of several world-class

Real Estate Journal — DelMarVa — January 15 - 28, 2016 — 7A

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Commercial-Industrial Realty Council Great CRE Events...Cont. Education...Speakers...Networking www.CircDelaware.org

Schedule of Events MEMBERSHIP LUNCHEONS Jan. 13, 2016(Wed.) Clarion Belle "Delaware By The Numbers" Speaker: Dace Blaskovitz, Caesar Rodney Institute : Co-Director, Center for Economic Policy and Analysis 11:30 - 1:30 p.m / Cost: $35 M/$45 NM Feb. 10, 2016 (Wed.) Clarion Belle Speaker: Jennifer Cohan, Cabinet Secretary : Delaware Department of Transportation 11:30 - 1:30 p.m / Cost: $35 M/$45 NM Mar. 9, 2016 (Wed.) Clarion Belle Speaker: Augustine Faucher, PNC Financial: Annual Economic Forecast Luncheon 11:30 - 1:30 p.m / Cost: $35 M/$45 NM CONTINUING EDUCATION* Clarion Hotel-The Belle March 9, 2016 (Wed) * Mod. 4 / Foreclosure Prevention & Loan Modification Accredited: DE/PA/MD/NJ Mod. 7 / Short Sales Done Right Accredited: DE/PA/MD * Visit us on the web: CircDelaware.org for more information on our Continuing Education offerings, the course provider, and accrreditation in DE*MD*PA*NJ: circdelaware.org/education/schedule.cfm

2 0 1 5 B oard of d irectors o fficers President Bert Root Harvey Hanna & Associates Vice President Donald Robitzer The Commonwealth Group Treasurer Timothy Cole Parke Bank Secretary Bayard J. Snyder, Esq. Bayard & Associates d irectors / c ommittees Past President John Birmingham Cushman & Wakefield Education Chair Marvin Sachs Bellevue Realty Co. Legislative Affairs Chair: J. Gregory Ellis Patterson-Woods Associates BrightFields, Inc. Program Chair Donald Robitzer The Commonwealth Group Jeremy Abelson MidCoast Community Bank Benjamin J. Berger, Esq. Berger Harris, LLC Jim O’Hara, Jr. NAI Emory Hill-Retail Div. Rachael Justice ATAPCO Christiana Cynthia Fleming Jones Lang LaSalle e x -o fficio m emBers Business Manager Janet S. Pippert CIRC / Landmark Membership Chair James Manna

A t the CIRC December Holiday lun- cheon at the Universtiy & Whist Club, we were pleased to collect chari- table donations to help The Boys and Girls Clubs of Delaware and The Food Bank of Delaware. R ebecca Wilczynski, Exectuve Direc- tor of the Boys and Girls Club of Claymont shared with us the needs of the organization and how our donation of $690 will help. F ood Bank of Delaware received 334 pounds of canned and dry foods to help stock their pantry for the holidays. T hank you CIRC members for your generous donations!

Good Times… Great Reasons to Join! Bert Root, CIRC President, with Harvey Hanna & Associates, and Kim Connell, First State Elevator

The Women of CIRC We are blessed with a great support system! Thank you (from top left: to bottom right) Joanne Clark, Kim Connell, Rebecca, Emily Drake, Janet Pippert, Susan Miller, Pat Forester,

Don Robitzer, CIRC VP, with The Commonwealth Group, with Brett Saddler,

Science & Engineering Legislative Lobbyist C. Scott Kidner

CRDC, and Bob Lasher, Dolan Finance

C. S. Kidner & Associates Economic Dev. Liaisons New Castle County Chamber Robert Chadwick

NCC Ec. Dev. Council State of Delaware David Archer DEDO NCCo. Rep.

MEET OUR NEWMEMBERS (from left-right): Michael Schlegal, P.E. - DEDC; Jake Ruddy - PCS; April Yanacek - Pettinaro: David Waterman - Pettinaro; Kelli Racca - Bancroft Construction; Robert Lasher - Dolan Finance; Sherry O'Rourke - Petttinaro; Joe Tuschinski, Architecture & Interior Solutions; Nancy Fleming - Whitehall Realty, LLC; Ann (Missy) Dannehower - Wells Fargo; JimManna, Membership Chairman - BrightFields, Inc.; (not shown): David Reesor - USI Insurance; Larry Wilson - S.T. Good Insurance

A Big Thanks to our Photo Sponsor, Joe Allen, of Sonitrol Security, and Pat Forester!

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