14B — January 15 - 28, 2016 — New Jersey — M id A tlantic

Real Estate Journal


P eople & C ompany N ews

Industry forecast: Greater liquidity continues Case Real Estate Capital to broaden platform in 2016

Alfred Sanzari Enterprises holds annual gift & toy drive


of given properties, and a sub- sequent fall-out is certainly a possibility. Market expertise and the stability of the lenders’ balance sheets are the keys to offsetting that.” Established in 2013, Case concentrates on transitional assets located in the New York metropolitan area, as well as throughout the Northeast and Mid-Atlantic regions and in South Florida, responding to the middle market’s need for smart, situational capital. Its funds are typically deployed as note purchases in addition to bridge and acquisition loans or rescue and restructure capital. “Heading into the New Year, we expect the warehouse/ industrial sector, particularly in the Northeast and the New York metro area, to remain strong,” added Herrick. “Solid opportunities in the retail sector will continue as well although on a case-by-case basis.” This year, Case was ac- tive in the warehouse/indus- trial and retail sectors. The firm finalized a $20.5 million transaction, purchasing two non-performing senior notes secured by a group of nine net- leased properties and simulta- neously assuming ownership

Scozzari is focusing on of- fice leasing as part of the Cushman & Wakefield team headed by Paul Giannone . With more than 75 combined years of commercial real estate experience, the group special- izes in office leasing, serving institutional, development and corporate clients. “Joining Cushman & Wake- field and this team, in par- ticular, is an incredible career opportunity,” Scozzari said. “The company has the best reputation in the business, and I am working with profes- sionals whose individual and combined track records speak volumes.” Scozzari previously worked as a leasing agent and proper- ty manager with The Azarian Group and as a sales associate with Terri O’Connor Realtors. He also held an inside sales position with Water Works Supply Company. Scozzari earned a bachelor’s degree in business administration/ management from William Paterson University. n through a deed-in-lieu (DIL) of foreclosure agreement. The transaction included stra- tegically-located retail and warehouse/industrial assets in New Jersey, New York, Con- necticut, and Massachusetts. The collateral for the notes consisted of a 127,000 s/f warehouse/industrial facility in Bergen County, N.J. and eight, high credit triple-net leased retail properties total- ing approximately 85,000 s/f in Long Island and upstate New York as well as in Conn. and Mass. “This deal required local expertise and creativity, and we immediately put our business plan to work by si- multaneously purchasing the notes and DIL,” said Herrick. Another notable transac- tion for Case earlier this year was the purchase of a non- performing senior note, with claims totaling $14 million, secured by a 31,000 s/f urban retail property in the Coconut Grove neighborhood of Mi- ami, FL. The Coconut Grove area is undergoing substan- tial revitalization fueled by the Coconut Grove Business Improvement District and numerous new residential and multi-family developments underway. n

OCHELLE PARK, NJ — In early 2016, the commercial real

estate invest- ment market will continue t o e x p e r i - ence greater liquidity, but dea l s may g e t m o r e challenging to complete

Sandy Herrick

as a result of the unclear di- rection in this peaking cycle, according to the investment and origination principals of Case Real Estate Capi- tal, LLC (Case) . Based in northern New Jersey, Case is active as a high-yield private lender, a purchaser of sub- and non-performing debt, and an equity investor. Concentrating on deals in the $1.5 million to $30 million range, the firm will broaden its platform next year. “Opportunities that take creativity and industry knowl- edge – and the ability to stom- ach uncertainty – are still out there,” said Sandy Herrick , founder and managing prin- cipal of Case. “The influx of money in the investment mar- ket may be driving prices too high for the intrinsic values

Shown from left: Jeanne Pietrowicz, Alfred Sanzari Enterprises’ accounts receivable analyst and Tomasz Mackiewicz, Alfred Sanzari Enterprises’ assistant commercial/industrial property manager.

food items; and towels. Donations were collected at four Bergen County locations: Alfred Sanzari Enterprises’ corporate offices at the Court Plaza office complex (25 Main St., Suite 600, Hackensack); the lobby of Heights Plaza (777 Terrace Ave., Hasbrouck Heights); the lobby of Elm- wood Park Plaza (475 Market St., Elmwood Park); and the lobby of The Ivanhoe (130 Overlook Ave., Hackensack). All four properties are owned and managed by Alfred San- zari Enterprises. n Sport Clips, Moe’s Southwest Grill, MedExpress, Once Upon A Child, Title Boxing Club, Elements Massage Spa, and Plato’s Closet. In addition to retail tenant experience, David has worked represent- ing landlords of varying sizes including but not limited to large corporate landlords, smaller more independent landlords, and midsized lo- cal landlords. Furthermore, David is seasoned in repre- senting landlords that have formed REITs such as Urban Edge. “David brings a terrific sense of retail market knowl- edge to the table. Our clients will benefit from his expertise. We’re proud to have him as a member of our team,” said Curtis Nassau . n Mayer and Hixson with can- vassing the Morris County area and databases to suc- cessfully represent potential and current tenants looking for office space. Prior to joining NAI Hanson, he was an agent at Mack- Morris Realty, LLC. n

HACKENSACK, NJ — Al- fred Sanzari Enterprises , one of New Jersey’s most active real estate develop- ment firms, recently held its annual “Operation Holiday” gift and toy drive. Working in conjunction with Eva’s Vil- lage, a non-profit social service organization, Alfred Sanzari Enterprises collected new, unwrapped toys for children of all ages; new winter acces- sories, including hats, gloves and scarves; toiletries; gifts cards to discount retailers and supermarkets; non-perishable

Ripco Real Estate’s NJ office continues to grow with new hire David Townes

Cushman & Wakefield adds Diercksen and Scozzari to New Jersey offices

LYNDHURST, NJ — As a seasoned real estate pro- fessional, David Townes

joined Rip- co Real Es- tate Corp. in November 2015. Prior to this David worked with We l c o Re - alty for five years where

becoming a valuable member of this team.” Cushman & Wakefield has

EASTRUTHERFORD, NJ — Michael Diercksen has joined Cushman & Wake-

a long history of developing young talent to become the next genera- tion of indus- try leaders. The commer- cial real es- tate services

field in East Ruther f ord as an associ- ate. TheWest Caldwell, NJ, res ident i s focusing on office leasing as a junior member of a

David Townes

he was representing a com- bination of landlords and retail tenants. One of David’s many strengths and areas of expertise includes assist- ing retailers looking to ex- pand in the New Jersey and Rockland County, New York areas. A few retailers David has worked with and built relationships with include

Michael Diercksen Matthew Scozzari

firm continues to selectively recruit professionals at all levels. Diercksen is a licensed real estate salesperson. He earned a bachelor’s degree fromRoger Williams University, with a major in business manage- ment and a minor in global communications. EDISON, NJ — Matthew Scozzari has joined Cushman &Wakefield as an associate in the commercial real estate ser- vices firm’s Edison office. The Kinnelon, NJ, resident brings four years of commercial real estate experience to his new position.

seasoned brokerage team led by Peter Hamburger , Wal- ter Schoenberg and Adam Matloff . Diercksen previouslyworked as a community consultant with Avalon Bay and a sales development representative with Unitrends. “Moving to Cushman & Wakefield is an excellent opportunity for me,” he said. “My first positions out of college were good jobs, but this is the launch of what I hope will be a long-term career in commercial real estate. I look forward to learning under the guidance of Peter, Walter and Adam, and ultimately

NAI Hanson welcomes Kirshenbaum PARSIPPANY, NJ — NAI James E. Hanson announced that Andrew Kirshenbaum will join its Parsippany office as a sales associate. Kirshenbaum will work directly with NAI Hanson vice presidents, Barry Mayer and Art Hixson . Kirshenbaum will assist

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