September 2026

Read MAREJ’s September 2026 issue featuring commercial real estate news, transactions, market insights and expert commentary from across the Mid-Atlantic, plus special coverage of Delaware, Northern New Jersey, Northeastern Pennsylvania.

- DC THE MOST COMPREHENSIVE SOURCE FOR COMMERCIAL REAL ESTATE NEWS IN THE REGION

www.marej.com

Dwight Mortgage Trust provides financing for 216-unit multifamily property Drew Capital secures $70 Million in financing for Cosmo 440 in Newark, NJ

ISSUE HIGHLIGHTS Volume 38, Issue 9 September 2026 Feldman marks first year as president of Legacy

48 three-bedroom units, includ - ing 190 market-rate units and 26 affordable units. “Cosmo 440 is a good ex - ample of what we mean by understanding the full cycle of a real estate transaction,” said Drew. “We’ve worked with the ownership and the property from the construc - tion phase, through lease-up, and now into its next stage of financing. Executing success - fully requires understanding every dimension of the deal: the sponsor, the business plan, the asset, the capital structure and, in this case, the Newark market specifically. “Our approach at Drew Capital is not to simply source a loan at one point in time,” Drew said. “We want to un - derstand where an asset has been, where the ownership

is taking it, and what the ap - propriate capital looks like at each stage. This continuity enables us to advise clients and execute more effectively as their properties evolve.” Overlooking Weequahic Park, Cosmo 440 is located minutes from Newark Lib - erty International Airport, major transit lines, and uni - versity campuses including Rutgers University-Newark. The building totals 272,222 gross s/f, with 177,336 s/f of net rentable area. Amenities include a con - cierge, co-working lounge, bar and social area, fitness center, playground, and a parking garage with EV charging. Residences feature a range of high-end furnish - ings, private balconies, and oversized windows. MAREJ

ACKSON, NJ — Drew Capital , a commercial real estate finance firm based in Jackson has arranged a $70-million, non-recourse, in - terest-only loan for Cosmo 440, a 25-story, 216-unit multifam - ily property located at 440 Eliz - abeth Ave. in the Weequahic neighborhood of Newark, NJ. The loan was arranged by Akiva Drew , founder and prin - cipal of Drew Capital, which has been involved with the property through multiple stages of its redevelopment and capitaliza - tion. Drew Capital had previ - ously arranged construction financing for the building’s gut renovation, followed by lease- up financing, and has now ar - ranged the property’s latest $70 million financing. The borrower is 440 Eliza - beth NJ Urban Renewal LLC,

Peter Feldman

Cosmo 440

with Yisroel Berger as spon - sor. The financing was provided by Dwight Mortgage Trust . Built in 1969, Cosmo 440’s recent full gut renovation had transformed the tower into a modern, class A, multifamily community. The building’s 216 residences consist of 48 one- bedroom, 120 two-bedroom and

SPO TLIGHT

FALL PREVIEW

29-37

UPCOMING CONFERENCES October 1, 2026 7th Annual New Jersey Retail Real Estate and Mixed-Use Development November 12, 2026 6th Annual Philadelphia Apartment & Multifamily December 2026 5th Annual Delaware Office & Industrial For speaking & sponsorship info., please contact: Lea at 781-740-2900 or lea@marejournal.com

Aggregate Real Estate Investors acquires $58 Million industrial & retail real estate portfolio in Northern VA

FAIRFAX, VA — Aggre - gate Real Estate Investors has completed the $58 mil - lion acquisition of an 11-prop - erty commercial real estate portfolio in Northern Virginia from Clarke-Hook Corpora- tion . The assets, contained within four separate business communities in Fairfax and Loudoun counties, consist of nearly 320,000 s/f of retail and industrial space, feature more than 90 tenants, and were cu - mulatively 94% leased at the time of the transaction. The tenant mix includes retailers,

McLean Commerce Center

University Commerce Center, Ashburn

restaurants, service providers, manufacturing companies, in - dustrial and distribution users and automotive-related groups. “We are extremely familiar with the Northern Virginia real estate and business community, and adding this extremely well- located, institutional-quality portfolio perfectly aligns with our strategy of investing in high-performing and supply- constrained submarkets,” said Greg Jacobsen , managing principal of Aggregate Real Estate Investors. “These prop - erties are substantially leased by stable, creditworthy tenants and provide a strong foundation for long-term ownership where our team can create additional value. We intend to immedi - ately implement proven, pro - active management protocols,

three buildings consisting of 106,000 s/f of retail and commer - cial office space at 44921 George Washington Blvd. in Ashburn. “Fairfax and Loudoun coun - ties remain among the most vibrant and economically- healthy submarkets in the country, in part due to the above-average demograph - ics, diversity of businesses, proximity to the federal gov - ernment, and the availability of a strong labor market. We look forward to working with the existing tenants and local stakeholders as we transi - tion ownership and operate the properties for the long term. In addition, we intend to maintain an aggressive ap - proach to identifying and ac - quiring value-add real estate opportunities.” MAREJ

complete aesthetic upgrades to improve the working envi - ronments, and nurture strong tenant relationships.” Portfolio Summary Dulles Trade Center: 40,529 s/f industrial building located at 23480 Rock Haven Way in Sterling, near Washington Dulles International Airport. The asset is leased to various Third-Party Logistics (3PL) tenants that manage warehous - ing to final-mile delivery. McLean Commerce Center: 17,200 s/f retail building po - sitioned at 1471-1475 Chain Bridge Rd. West Fairfax Commerce Center: six industrial build - ings totaling 150,000 s/f of space, located at 14506 Lee Rd. in Fairfax. University Commerce Center:

Directory

Retail Development.................................................... 3-5 Commercial Real Estate Across America ......................... 6 CIRC Delaware Chapter . ................................................. 7 DelMarVa.................................................................... 7-8 New Jersey featuring Northern NJ ............................. 9-15 Pennsylvania featuring Northeastern PA . ................ 16-19 Owners, Developers & Managers ............................ 20-28 Fall Preview . ........................................................... 29 -37 CRE Organizations’ Events Calendar . ............................ 39 People on the Move ..................................................... 40 www.marej.com

MAREJ 10.25x13.25

Inside Cover — September 2026 — M id A tlantic Real Estate Journal

www.marej.com

Visit www.kpi1031.com or Call 1.855.899.4597 Your 1031 Exchange Is Just the Beginning.

For nearly 20 years Kay Properties has helped over 4,000 investors complete 1031, DST and 721 UPREIT transactions. Let’s build your 1031 Exchange, Delaware Statutory Trust portfolio, & 721 UPREIT exit the Smart Way.

Dwight Kay Founder & CEO

Chay Lapin President

Jason Salmon EVP, Managing Director

Visit www.kpi1031.com or call 1.855.899.4597 to receive Your FREE Real Estate Masterclass Materials including the FIRST book dedicated to 721 UPREITs.

Visit www.kpi1031.com and start browsing 20-40 live DST offerings from 25+ DST and 721 UPREIT sponsors.

A frequent contributor to...

*Potential returns and appreciation are never guaranteed and loss of principal is possible. Please speak with your CPA and attorney for tax and legal advice.*The There is a risk Investors may not receive distributions, along with a risk of loss of principal invested. This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior investing. IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should consult your tax or legal professional for details regarding your situation. This material is not to be construed as tax or legal advice. There are material risks associated with investing in real estate securities including illiquidity, vacancies, general market conditions and competition, lack of operating history, interest rate risks, general risks of owning/operating commercial and multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed. Securities offered through FNEX Capital.

M id A tlantic Real Estate Journal — September 2026 — 1

www.marej.com

Any bank can write a construction loan. We turn plans into success stories.

When you’re looking to break ground on your next project, Kearny Bank has flexible lending solutions to make it happen. We have the committed team, modern services, and business resources to help you write your success story—today and tomorrow.

kearnybank.com | 800-273-3406 Empowering prosperity. Connecting community. Delivering trust.

MEMBER FDIC

2 — September 2026 — M id A tlantic Real Estate Journal

www.marej.com

M id A tlantic Real Estate Journal

M id A tlantic R eal E state J ournal Publisher, Conference Producer ..............Linda Christman VP, Conference Producer .............................Lea Christman Editor/Graphic Artist ......................................Karen Vachon Contributing Columnist ........ Ryan C. Duffy & Dipa Rapole, Stark & Stark Mid Atlantic R eal E state J ournal ~ Published Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal 117 HMS Halsted Dr., Hingham, MA 02043 USPS #22-358 | Vol. 38, Issue 9 Subscription rates: 1 year $99.00, 2 years $148.50, 3 years $247.50 & $4.00 single issue - plus postage

Ryan C. Duffy

REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Phone: 781-740-2900 www.marej.com

Dipa Rapole

Drawing the Line: Crafting Clear, Enforceable Exclusives in Commercial Leases I n KRG Bayonne Urban Renewal, LLC v. Wal- Mart Stores East, LP, the Superior Court of New Jersey, Appellate Division, reminded commercial landlords and tenants that when it comes to restrictive covenants, “plain meaning” reigns supreme. Background: In October of 2009, Walmart executed a lease for approxi- mately 90,000 s/f at Cameron Bayonne Urban Renewal’s Bayonne Crossing Shopping Center. Included in the lease was an Exclusive Covenant that prohibited the landlord from leasing other space in

the center to any tenant whose principal use was a “supermar- ket (selling food in more than 10,000 s/f of Floor Area)…” which, on first reading, seems pretty clear. Over a decade later, Walmart’s new landlord, KRG Bayonne Urban Renewal, LLC, who acquired ownership of Walmart’s previous land- lord, leased roughly 19,591 s/f of space in the shopping center to a new supermarket, Aldi. To circumvent the Walmart exclusive covenant, the Aldi lease attempted to partition the space, arguing the “total food sales area” was only 9,999 s/f (one foot less than what was prohibited), with the rest of the space, which was comprised of the center aisle with all displays on both sides

facing it, designated as “Aldi Finds non-food” area. Disposition: After Walmart objected to the Aldi lease, and months before same was amended, KRG filed a Chancery Divi - sion complaint seeking de- claratory judgment that the exclusivity provision’s restric- tion on other tenants was “to be measured based on the square footage of the area in which food products are made available for purchase.” While the trial court agreed with KRG, the Appellate Division reversed, holding that “Floor Area” as defined in the lease and governing declaration for the shopping center includes storerooms and other areas of the premises not accessible continued on page 4

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.

Contact: NEIL A. STEIN • nstein@kaplaw.com 910 Harvest Drive, Blue Bell, PA 19422-0765 • 610-941-2469 • kaplaw.com Other Offices: • Cherry Hill, NJ 856-675-1550 • Philadelphia, PA 215-567-3120 Kaplin Stewart Attorneys at Law

M id A tlantic Real Estate Journal — Retail Development — September 2026 — 3

www.marej.com

R etail D evelopment

4 — September 2026 — Retail Development — M id A tlantic Real Estate Journal

www.marej.com

R etail D evelopment

Azarian Realty signs two leases in Fair Lawn and Oak Ridge, NJ

Danielson, Nadler, Smith and Kanellos close deals Horvath & Tremblay arranges $9.9 Million retail sales

Fair Lawn Medical Arts Building

Kyle Danielson

Matt Nadler

Milton Shopping Plaza

Dash In at 429 Solomons Island Rd.

certain items from a restric- tion or other such mechanism in a lease, you should explicitly list those exclusions where the term is defined in the lease. Exclusivity provisions are “reasonable protections” for a given tenant’s business. If limi- tations are vague, a landlord might devalue a tenant’s lease by bringing in a direct competi- tor. To prevent confusion over exclusivity provisions or princi- pal use clauses, one should use industry-standard definitions. Here To Help: To protect your interests, it is important to ensure that your lease defines not just what is restricted but also exactly where and how that restriction is measured. If you are a landlord or tenant and need help negotiating your commercial lease, Stark & Stark’s Commercial Real Estate Transactions group can assist you. Ryan C. Duffy is an as- sociate and Dipa Rapole is a shareholder at Stark & Stark. Both are based in the firm’s Hamilton, NJ, office. MAREJ In Oak Ridge, Tinga at the Ridge leased 2,500 s/f at Mil- ton Shopping Plaza, bringing the 55,750 s/f center to full occupancy. The restaurant will open its second location, joining Provident Bank, Snap Fitness, USPS, Pepe’s Pawlor and Nick’s Hope. Milton Shopping Plaza is located at the intersection of Berkshire Valley Rd. and Chamberlain Rd. and includes 10 tenant spaces and 186 parking spaces. Kevin Pelio of Azarian Realty Co. represented the landlords and tenants in both transactions. Azarian Realty Co. is the exclusive leasing and property management agent for Fair Lawn Medical Arts Building and Milton Shopping Plaza. MAREJ

to customers. As Aldi’s total footprint exceeded the limit, their lease violated Walmart’s exclusivity rights. Why This Matters: This case highlights several reasons why drafting detailed limitations is vital for com- mercial leases. Without a specific definition of how a restricted area is measured, parties may try to find creative workarounds. In this case, the landlord tried to exclude “non-food” areas like center aisles or storage areas to fit a large-scale supermarket within a small-format restric- tion. To solve this issue, parties should clearly define whether a square footage limitation applies to the entire leasehold premises, a selling area, or even specific product displays. Courts continue to be unwill- ing to rewrite contracts. In this case, the Appellate Division refused to look at extrinsic evidence (like the intent of the parties during negotia- tions) because the contract unambiguously defined “Floor Area”. If you want to exclude continued from page 2 NEW JERSEY — Azarian Realty Co. recently complet- ed two leases at properties it exclusively leases and man- ages, including a medical office lease in Fair Lawn and a retail lease in Oak Ridge. At Fair Lawn Medical Arts Building, Chi Family Medi- cal Health & Wellness leased 1,420 s/f on the second floor. The two-story, 22,000 s/f medi- cal, dental and professional office building includes 12 tenant spaces ranging from 571 s/f to 4,127 s/f and 80 park- ing spaces, including private underground parking. Located near Rte. 208, the property is also home to Labcorp, Kaleidoscope ABA Therapy, Mobile Health Care Family Clinic and Craft Tex- tile Printing Co.

Austin Smith

Hill Kanellos

ARYLAND & VIR- GINIA — Hor- vath & Tremblay

has completed the sale of three retail properties in the Mid-Atlantic for a total of $9.905 million. Kyle Danielson, Matt Nadler, Austin Smith and Hill Kanellos completed the $5.15 million sale of a Dash In at 429 Solomons Island Rd. in Prince Frederick, MD. Hor- vath & Tremblay exclusively represented the seller and sourced the buyer. The newly constructed fuel station and convenience store is subject to a 20-year absolute NNN ground lease with four five- year renewal options and 2% an- nual rent increases throughout the primary term and options. The property is located within Armory Square, Prince Freder- ick’s newest retail development along Solomons Island Rd., the area’s primary north-south commercial corridor. It benefits from frontage, visibility and access at a signalized intersec- tion, as well as proximity to CalvertHealth Medical Center and surrounding retail. Danielson and Nadler also

Starbucks at 13241 Rivers Bend Blvd.

facilitated the $2.68 million sale of a Starbucks at 13241 Rivers Bend Blvd. in Chester, VA. Horvath & Tremblay exclusively represented the seller and sourced the buyer. The property was renovated for Starbucks in 2025, and the tenant recently commenced a new 10-year lease with six five-year renewal options. The lease includes 10% rent increases every five years throughout the initial term and renewal periods. Starbucks is positioned along East Hundred Rd. ad- jacent to Rivers Bend Blvd. and serves as an outparcel to a Food Lion-anchored shop- ping center. The property also provides access to I-295, I-95 and U.S. Rte. 1. Danielson and Kanellos com- pleted the $2.075 million sale of a Popeyes at 520 Compass Point Plaza SE in Leesburg,

VA. Horvath & Tremblay rep- resented the buyer. The property consists of a 2,500 s/f drive-thru restaurant on 0.73 acres. Popeyes has 16 years remaining on its abso- lute NNN ground lease with two five-year renewal options and 10% rent increases every five years. The property is located within Compass Creek near the intersection of Compass Creek Pkwy. SE and Battle- field Pkwy. SE, with access to VA Hwy. 267. Nearby retail- ers include Walmart Super- center, At Home, Buffalo Wild Wings, Starbucks, Chipotle and Valvoline. Horvath & Tremblay spe- cializes in the sale of single- tenant net-lease assets and retail shopping centers, in- cluding sale-leasebacks, port- folio dispositions and 1031 exchanges. MAREJ

Drawing the Line: Crafting clear, enforceable exclusives in . . .

Marcus & Millichap brokers $5.9M sale of mixed-use property

WESTFIELD, NJ — Mar- cus & Millichap announced today the sale of 219-225 E. Broad St., a mixed-use prop- erty in Westfield. The asset sold for $5.9 million. “This transaction reflects the continued demand for well-lo- cated mixed-use assets in New Jersey’s strongest downtown markets,” said Alan Cafiero , executive managing director investments in Marcus & Millichap’s New Jersey office. “Westfield’s combination of high-quality demographics, strong retail fundamentals and direct rail access to New

219-225 E. Broad St.

York City continues to attract investors looking for long-term stability and value.” Cafiero, David Cafiero and Damien Rance of Marcus & Millichap marketed the prop- erty on behalf of the seller and procured the buyer.

The property is a two-story, 13,006 s/f building on a 0.26- acre lot. It has five suites and was renovated in 1995. It is fully occupied by Sweetgreen, Club Pilates, Fred Astair Dance Studio, GamifyU and Exploratores. MAREJ

M id A tlantic Real Estate Journal — September 2026 — 5

www.marej.com

6 — September 2026 — Commercial Real Estate Across America — M id A tlantic Real Estate Journal

www.marej.com

C ommercial R eal E state A cross A merica

Commerce Park pairs 17.9 MW with 276,000 s/f of existing space Power constraints put new focus on Weiss Realty’s 138-acre Illinois industrial site

has 17.9 megawatts of available power, with the potential for significantly greater capacity. The property offers 276,000 s/f of immediately available warehouse space suitable for a cloud-based facility storing modular servers. In addition, the site can accommodate build- to-suit development ranging from 100,000 to 900,000 s/f. “We’re seeing power avail- ability become a much big- ger part of the site-selection conversation,” said Matthew Weiss , who is leading the leasing initiative. “Commerce Park combines existing space,

substantial power infrastruc- ture and enough land to ac- commodate future expansion, which gives users a number of different options.” The property is being mar- keted to data center, advanced manufacturing, EV, logistics and other power-intensive users. Commerce Park also offers multimodal transportation ac- cess near the ADM Intermodal Ramp, U.S. Rte. 51 and I-72, with connections to Interstates 55 and 57. The site includes parking and outdoor storage capacity for more than 1,000 vehicles. The property previously housed a Caterpillar ware- housing operation for more than 15 years. MAREJ Matthews Capital Markets executes $4.15M loan for San Bernardino medical office 399 East 21st St. in San Bernardino LOS ANGELES, CA — Matthews Capital Markets (MCM) secured a $4,152,000 loan for a single-tenant medi- cal office building located at 399 East 21st St. in San Bernardino. First VP Geof- frey Arrobio represented the borrower, San Bernardino M.O.B., LLC, whose refinanc - ing will generate $1.2 million in cash-out proceeds after acquiring the property 18 months ago. Located directly across from Dignity Health Community Hospital of San Bernardino, the 13,194 s/f medical of- fice building benefits from a strategic healthcare location with strong visibility and convenient access for patients and medical professionals. The property is leased to a long-term medical tenant, providing stable cash flow and reinforcing its position as a du- rable healthcare investment. The cash-out refinancing was structured with a 5.75% fixed interest rate, a 10-year term with a five-year rate re - set, and a 25-year amortization schedule. MAREJ

ECATUR, IL — As power availability be- comes an increasingly

important factor in in- dustrial and data center site selection, New Jersey- based Weiss Realty is r enewi ng its focus on

Matthew Weiss

Commerce Park, its 138-acre in- dustrial property in Decatur, IL. Located adjacent to an Ame- ren Utility Company substa- tion, Commerce Park currently

Commerce Park, 138-acre industrial property in Decatur, IL

DEALS. DEVELOPMENT. RESULTS. Building momentum across New Jersey commercial real estate.

VERONA Sale of 11-Townhome Development

FORT LEE Sale of 24-Unit Residential Development

NEPTUNE TOWNSHIP Acquisition of 49,000 SF Medical/Office/Government Building (owned and managed by Weiss Realty)

FORT LEE Sale of Starbucks Drive-Thru & Bank of America Kiosk

EDISON Colonial Village Shoppes & Professional Office Space Leasing and Managing Agent Rt 27 Lincoln Highway and Parsonage Rd

INVESTMENT SALES | ACQUISITIONS | DEVELOPMENT | LEASING | PROPERTY MANAGEMENT

WEISS REALTY Experience. Relationships. Results.

Contact: Matthew Weiss mweiss@jweissrealty.com | p: 201.814.1800 | www.jweissrealty.com 250 Moonachie Road, Suite 302, Moonachie, NJ 07074

M id A tlantic Real Estate Journal — September 2026 — 7

www.marej.com

Great CRE Events Networking | Speakers | Continuing Ed circdelaware.org

Board Directors * 7/1/26 - 6/30/27 * — Officers — P resident : B arton L. M ackey , J r . Cushman & Wakefield U.S.A. V ice P resident : J ay L. W hite , Mai, cre® Apex Realty Advisory c o -t reasurers : M ichaeL h ahn 44 Business Capital,div.BeaconBank r oBert s tenta Cushman & Wakefield U.S.A. s ecretary : d anieL W haM DSM Commercial Real Estate — Directors — P ast P resident : c indy F LeMing Jones Lang LaSalle P rograM c hair : L orraine s heLdon B enJaMin B erger , e sq . Berger McDermott LLP P aMeLa s cott , e sq . S aul E wiNg a rNStEiN & l EHr llP e. t hoMas h arVey , iV Harvey Hanna & Associates J eFF s hahan SB Real Estate, LLC B rian h oPkins CBRE, Inc. — Ex-Officio — B usiness M anager : J anet P iPPert L egisLative a dvocacy : c. s cott k idner C. S. Kidner & Associates L egisLative a ffairs c hair : B rett s addLer Claymont Rennaissance Dev. Corp. e conoMic d eveLopMent L iaisons : J osePh Z iLcosky (d eL .dsB) B ecky h arrington (dpp) M egan M c g Linchey (rdc) — Contact — Janet Pippert Phone: (302) 633-1705 Email: ExecDirector@ circdelaware.com  Don Robitzer, SVP / COO The Commonwealth Group

Annual Meeting. On September 9, 2026, the Commercial Industrial Realty Council members voted to adopt newly Amended and Restated Bylaws and elect eight (8) directors to a new two-year term. The Board will now consist of 15 members. Reelected were: Bart Mackey, Cushman & Wakefield USA; Carmen Facciolo, NAI Emory Hill; Thomas Harvey, IV, Harvey, Hanna & As- sociates; Robert Stenta, Cushman & Wakefield USA; Michael Hahn, 44 Business Capital; and Pamela Scott, Esq., Saul Ewing, LLP. Newly elected were Brian Hopkins, CBRE, Inc. and Jeff Shahan, SB Real Estate, LLC.

rs 7 *

—

onBank

—

NAI Emory Hill r yan k ennedy  Jeff Shahan, Owner SB Real Estate, LLC President Bart Mackey recognized and thanked KENNEDY M arKEtiNg c arMen F accioLo NAI Emory Hill n eiL k iLian , sior, cciM Nai E MorY H ill Don Robitzer, Senior VP and COO of The Commonwealth Group, a fully integrated real estate company, for his dedication to the Board as he stepped down after 16 years of exemplary service. First elected as a Director in 2008, Don was President for two years in 2018 and 2019.

 Brian Hopkins, SVP CBRE, Inc.  Jeff Shahan, Owner SB Real Estate, LLC President Bart Mackey recognized and thanked  Brian Hopkins, SVP CBRE, Inc. Don Robitzer, Senior VP and COO of The Commonwealth Group, a fully integrated real estate company, for his dedication to the Board as he stepped down after 16 years of exemplary service. First elected as a Director in 2008, Don was President for two years in 2018 and 2019.

Lu Oct. Loca Nov. Loca Dec. Loca REG Co Sep (from Jay Exp Step Bellw Rea Kran tal M men Jos

Commercial Real Estate Capital Markets Panel September 9, 2026:

He led the Program Committee as chair- man for serveral years and is still active with the Membership Com- mittee, helping to build CIRC's rolls with its current 341 individual members.

(from L-R): Moderator Jay White, MAI, CRE . Expert Panelists: Stephen Perricone , Bellwether Enterprise Real Estate; Jerome Kranzel , CBRE Capi- tal Markets & Invest- ment Properties; and Joseph Felici , Equus

—

 Don Robitzer, SVP / COO The Commonwealth Group

2026 Calendar of Membership Events

Lunch & Dinner Events Oct. 14 (Wed.) Membership Lunch Location: DuPont Country Club Nov. 18 (Wed.) Annual Joint Dinner Holiday Event Location: Harry's Savoy Ballroom Dec. 16 (Wed.) Holiday Lunch Mixer Location: Wilmington Riverfront Events REGISTER: circdelaware.org / goto Events

In-Person CE Classes In-person continuing education classes are in the works to begin in January 2027. LICENSE RENEWALS DUE: DE by 4/30/28; PA by 5/31/28. Stay posted. Online CE If you are working on your MD, NJ or other state CE requirements, buy classes at our online portals at: REGISTER: CircDelaware.TheCEShop.com MORE CE INFO: CircDelaware.org/CE

Corp.

—

8 — September 2026 — DelMarVa — M id A tlantic Real Estate Journal

www.marej.com

D el M ar V a

$226M Garrison Oak Technical Park project expected to create hundreds of construction jobs Aternium selects Dover, DE for first U.S. heavy water & high purity hydrogen production facility

OVER, DE — Aterni- um, Inc. has selected Dover, Delaware, as the location for its first commer - cial heavy water and electrolyt- ic hydrogen production facility. The company has finalized a definitive agreement of sale for a site at Garrison Oak Techni- cal Park and expects to close in mid-fourth quarter 2026. The facility will serve as Aternium’s flagship U.S. deployment and represents a major step toward establishing a secure domestic supply of heavy water, also known as deuterium oxide, and high purity hydrogen for D

of additional construction jobs. “Delaware has long been home to some of the most inno - vative companies in American history, and Aternium is build - ing on that legacy by choosing Dover for its first hydrogen facility,” said Governor Matt Meyer . “This investment puts Delaware at the forefront of the next generation of energy and advanced manufacturing. By producing deuterium, one of the world’s most critical materials for semiconductors, nuclear reactors, fusion en- ergy, and pharmaceuticals, Aternium will become the only

continued on page 38 “Aternium’s decision to lo - cate its first production facil - ity in Dover is a major win for Central Delaware,” said Linda Parkowski , executive director of Kent Economic Partnership . “This project is a testament to what can be The Dover facility is ex- pected to be the first in a planned network of production sites across the Mid-Atlantic region, enabling a reliable, resilient, and scalable sup- ply platform for customers as demand grows. Aternium’s broader development strategy includes additional facilities in Pennsylvania, New Jersey and Delaware. domestic producer of this es - sential resource. We’re proud of the work Andrew Cottone and the Aternium team are doing, and even prouder that they’re building the future right here in Delaware.” The project is designed to strengthen U.S. supply-chain resilience for deuterium, a strategic material used in semiconductors, pharmaceu - ticals, advanced electronics, nuclear energy, defense and emerging fusion technologies. Today, the United States lacks commercial-scale domestic heavy water production, leav- ing key sectors dependent on adversarial foreign sources for a material increasingly relevant to energy security, advanced manufacturing, and national competitiveness. “Aternium’s decision to es - tablish its first U.S. production facility in Dover is a defining moment for our city,” said Mayor Robin R. Christian - sen . “This project reflects the confidence innovative com - panies have in Dover and reinforces our city’s growing role in advanced manufactur - ing. We are proud to welcome Aternium and look forward to the positive impact this project will have on our community for years to come.” “Dover is the right location to launch Aternium’s vision for rebuilding a critical Amer - ican supply chain,” said Dr. Andrew Cottone , founder and CEO of Aternium. “This facility will help secure do- mestic access to an essential strategic material, create high-quality careers, support advanced manufacturing, and reinforce America’s leader - ship in energy, technology, and national security.”

strategic U.S. industries. The project is expected to bring at least $226 million in capital investment to Dover, create dozens of direct and support jobs, and generate hundreds Commercial heavy water & electrolytic hydrogen production facility

PRESENTS

OFFSITE CONSTRUCTION SUMMIT THE 2026 WASHINGTON-DULLES NOV 19 HOUSING | HEALTHCARE | DATA CENTERS THE FUTURE OF OFFSITE CONSTRUCTION ASSEMBLES THURSDAY, NOVEMBER 19 th Our event in the DC area is the greatest opportunity to learn from, and network with, hundreds of regional offsite building industry professionals. Superior networking with the leading offsite construction manufacturers, designers, developers, and contractors near Washington DC, Virginia, Maryland, in the Mid-Atlantic, and across the United States. Informative presentations about the capabilities of offsite construction to provide much-needed housing and healthcare facilities in the region as well as critical infrastructure to support the world’s largest data center hub in Northern Virginia. Direct access to regional and national companies , developers, local and state government officials, and end-users who are capitalizing on offsite construction to build and deliver these structures at scale.

THERE IS SIMPLY NO BETTER WAY TO ENGAGE KEY REGIONAL PARTNERS IN THE OFFSITE CONSTRUCTION INDUSTRY!

OFFSITECONSTRUCTIONNETWORK.COM REGISTER TODAY!

TICKETS AS LOW AS $199 * * FOR QUALIFIED ATTENDEES

SPONSORED BY

The Voice of Commercial Modular Construction™

M id A tlantic Real Estate Journal — New Jersey — September 2026 — 9

www.marej.com

N ew J ersey

Firm breaks ground in supply-constrained South Jersey Doors & Spaces initiates construction on a 30,000 s/f small-bay industrial project in Egg Harbor Twp.

GG HARBOR TWP., NJ — To address an acute shortage of state- of-art, functional commercial space in South Jersey, Doors & Spaces Industrial (Doors & Spaces) has initiated con- struction on a 30,000 s/f small- bay industrial project in Egg Harbor Twp. The 108 E. Pkwy. Dr. ground-up development creates a premier operational hub for Atlantic County’s thriv- ing small business community by delivering flexible, profes - sionally managed space to a submarket long dominated by aging inventory. “This project reflects our firm commitment to backing local businesses that power South Jersey’s economy,” said Brian Whitmer , co-founder and managing partner of Doors & Spaces. “Egg Harbor Town- ship’s favorable demographics, expanding commercial density and superior highway connec- tivity make it an ideal hub for small-bay users. By building modern, highly adaptable fa- cilities here, we are providing local companies with a high- performing operations base to streamline their supply chains, grow their client relationships and thrive over the long-term.” Currently under construc- tion, the 30,000 s/f facility will feature 19 industrial bays averaging 1,500 s/f each. The modern space is designed to support contractors, service providers, light logistics users and other growing businesses seeking modern, professionally managed industrial space. Once completed, each bay will offer a move-in-ready con- figuration of a private office, restroom and warehouse area, providing tenants with an environment that combines functionality with professional presentation. The property also features a dedicated business center exclusively for tenants to host client meetings and col- laborative work sessions. Strategically positioned at the heart of Atlantic County’s primary commercial corridor, the Egg Harbor Twp. site delivers immediate, high- capacity arterial access to the Atlantic City Expressway, Rte. 322 (Black Horse Pike), and the Garden State Pkwy. This central nexus provides seamless transit connectivity across South Jersey, enabling service providers and logistics operators to reach both coastal shore markets and the greater E

International Airport. First Bank provided construction financing for the project. GWG is serving as the general contractor, while Whitney Development is man- aging the development. In other news, Doors & Spaces is moving forward with two intentionally designed, ground-up small-bay indus- trial developments in Liver- pool, NY, a suburb of Syracuse. Spanning a combined 35,000 s/f, the multi-tenant single- story buildings are purpose engineered to meet market demand from Central New

York State businesses, sup- pliers and service providers. The larger of the two de- velopments, situated at 112 Monarch Dr., spans 24,000 s/f and features 16 individual bays averaging 1,500 s/f each. The facility is tailored to ac- commodate local-trade con- tractors, light-manufacturing users, specialized service pro- viders and regional logistics companies. Nearby at 100 Wrentham Dr., construction is also pro- gressing on a 10,500 s/f facility offering eight flexible bays of 1,313 s/f each. MAREJ

108 E. Pkwy. Dr. ground-up development

Philadelphia metropolitan region within minutes, while

positioning tenants just 10 miles from Atlantic City

‑ Exclusive NJ Opportunities for Investors, End Users Developers

Exclusive NJ Opportunities for Investors, End-Users & Developers

CURRENT OPPORTUNITIES FOR SALE

450-460 Veterans Drive, Burlington, NJ ±63,250 SF

101 West Avenue, Jenkintown, PA ±84,200 SF

2121 US Highway 22, Bound Brook, NJ ±33,000 SF

AUCTION

NJ VALUE-ADD FLEX

MULTI-TENANT OFFICE

VALUE-ADD MEDICAL OFFICE

Lehigh Valley Med-Tech Park, Bethlehem, PA ±106,200 SF

556 Eagle Rock Avenue, Roseland, NJ ±26,700 SF

Alexander Corporate Park, Princeton, NJ ±109,000 SF

AUCTION

VALUE-ADD OFFICE

4 BUILDING FLEX PORTFOLIO

VALUE-ADD MEDICAL OFFICE

Patrick Norris Senior Vice President 973 299 3010 patrick.norris@colliers.com

Brittany Leventoff Team Transaction Manager 732 734 0709 brittany.leventoff@colliers.com

10 — September 2026 — New Jersey — M id A tlantic Real Estate Journal

www.marej.com

N ew J ersey

SVP Don Baxter & VP Michael Salomon arrange sale of 20 apartments in Essex County Kislak sells East Orange, New Jersey multifamily properties for $3.6 Million

Kislak marketed the properties on exclusive basis with senior vice president Don Baxter and

backsplashes and modern appli- ances, updated bathrooms with contemporary fixtures, new flooring, and generous living spaces. Tenants are responsible for their own gas, electric, heat, and hot water. 82 South Harrison St. is a four-story brick apartment building containing eight large units with on-site parking. The property offers significant upside in rental income. Ten- ants are responsible for their own electric and gas, including heat and hot water, while the landlord pays for water. Baxter said, “Multifamily properties continue to be the investment of choice especially during periods of economic un- certainty. Demand remains ex- ceptionally strong as inventory across northern New Jersey remains limited, supporting ag- gressive pricing for well-located apartments. Owners who have been considering selling recog- nize that today’s combination of strong buyer demand and constrained supply presents a compelling opportunity.” Located in East Orange, the properties benefit from immedi - ate access to major transporta- tion corridors, including I-280, the Garden State Pkwy., and the New Jersey Tpke. The area is also served by multiple NJ Transit rail stations offering direct service to Newark and NYC, making it an attractive location for commuters. Contin- ued public and private invest- ment throughout Essex County has strengthened investor con- fidence in well-positioned multi - family assets, particularly those offering value-add potential and stable in-place occupancy. Don Baxter joined Kislak in 2006 and specializes in the sale of multifamily and other investment properties throughout New Jersey. Since joining Kislak, he has been ranked as one of the firm’s top-producing salespeople, earning “Salesperson of the Year” honors and building a reputation for managing high- stakes, complex transactions. Michael Salomon joined Kis- lak in 2013 and also specializes in the sale of multifamily and other investment properties in northern New Jersey. He holds a Bachelor of Science in Business Administration from the University of Hartford and is a member of the New Jersey Apartment Association and the Property Owners Association of New Jersey. MAREJ

AST ORANGE, NJ — The Kislak Company, Inc. completed the sale

vice president Michael Sa- lomon han- dling the assignment on behalf of the sellers, 5 Harvard Street, LLC and 82 South

of two multi- family prop- erties in East Orange, Es- sex County, for $3.575 million. The sales includ- ed a 12-unit property at 5

Don Baxter

Michael Salomon

Harrison EO, LLC, and they also procured the purchaser, which was not disclosed. 5 Harvard Street consists of a four-story brick apartment

Harvard St. and an eight-unit property at 82 South Harrison St. An additional lot used for parking at 118 South Clinton St. was also included.

building with 12 spacious units along with a 0.31-acre parking lot directly across the property on South Clinton St. for dedicat-

ed tenant parking. Apartments feature renovated kitchens with shaker-style cabinetry, quartz countertops, subway tile

EXCLUSIVE PROPERTIES FOR SALE

West New York, NJ 30 Units + 4 Retail Tom Scatuorchio ext 255

Ridgefield Park, NJ 29 Residential Units Don Baxter ext 265 Michael Salomon ext 243

Moscow (Salem Township), PA 9-Building Complex | 29 Units Matt Wolf ext 237

Cape May Court House, NJ 4 Lots, 12 Buildings, 26 Units Joni Sweetwood ext 273

Bound Brook, NJ 13,200 SF Warehouse/Event Hall or Redevelopment Max Levinston ext 308

Hazlet, NJ 0.81 Acre Development for 4 Units + 4 Offices Matt Weilheimer ext 253

The Kislak Company, Inc. | kislakrealty.com | 732 750 3000

M id A tlantic Real Estate Journal — New Jersey — September 2026 — 11

www.marej.com

N ew J ersey “WE’VE GOT NEW JERSEY COVERED” / EXCLUSIVES

1,500 – 3,000 SF – 6,000 SF South Plainfield 225/275 SF Ofc, 24’ Clgs, 1 DI Per Unit

10,000 SF | Garwood Ofc to Suit, 14’ Clgs, 1 TB, 2 DI Lease $9.75 PSF Net

1,920 – 3,840 SF | Piscataway 225 SF Ofc, 20’ Clgs, 1 DI Per Unit Ample Parking

28,460 SF | Garwood 19,210 SF & 9,260 SF Temp Controlled 14’ – 20’ Clgs, TB, DI Sale $210 PSF | Lease $15.00 PSF Net

28,620 SF | Garwood Divisible to 8,270 SF & 20,350 SF

17,203 SF | Carteret 1,000 SF Ofc, 15’ Clgs, 3 TB, 1 DI Available Immediately

Available Immediately Lease $9.75 PSF Net

50,000 SF Carteret 5,000 SF Ofc, 24’ Clgs, 7 TB Cooler/Freezer

50,422 SF Edison 21’ Clgs, 7 TB DI, 2.54 Acres Cooler/Freezer

45,190 SF | Union 19,385 SF (7,200 SF Ofc, 20’ Clgs, 6 TB) 11,305 SF (3,500 SF Ofc, 20’ Clgs, 2 TB, DI) 14,500 SF (3,500 SF Ofc, 14’ Clgs, 2 TB)

44,362 SF | Piscataway 20’ Clear Clgs, 2 TB, Heavy Power 4.96 Acres | For Lease

+ 5.0 AC IOS

176,132 SF | Jersey City Divisible to 10,000 SF Units 54,553 SF Ofc, 14’ - 28’ Clgs, 11 TB, 4 DI 5.0 Acres IOS Available

86,000 SF | Monroe 4,797 SF Ofc 21’ Clgs, 7 TB, 1 DI, 2+ Acres, Trailer/Storage

60,000 SF | Avenel 7,500 SF Ofc, 20’ Clgs, 7 TB, 1 DI 3.14 Acres, Heavy Power Sale or Lease

BUSSEL REALTY CORP. Licensed Real Estate Broker 2 Ethel Road, Suite 202A, Edison, NJ 08817 | 732.287.3777 | bussel.com The information herein has been obtained from sources considered to be reliable, but no guarantee is made by the Company. Subject to error, omission or withdrawal without notice .

12 — September 2026 — New Jersey — M id A tlantic Real Estate Journal

www.marej.com

N ew J ersey

RIPCO RE completes $4.135M Kearny sale & 5,000 s/f Clifton lease

Commitment brings 1 Buckingham Ave. to full occupancy Lee & Associates New Jersey inks 250,000 s/f industrial lease

ROSELLE PARK, NJ — SAGE Real Estate Advisors of Livingston has arranged the sale of Roselle Grande, a 119- unit garden-style apartment community in Roselle Park for an undisclosed price. SAGE’s brokerage team of partners and co-founders Steve Tra- gash and Greg Pine , prin- cipal Eli Herskowitz and associate Katie Migner rep- resented the seller, Roselle Grande LLC, and procured the buyer. The trade demonstrated SAGE’s hands-on approach to steering complex commer- cial real estate transactions past the finish line by inter- vening during the closing pro- cess to resolve long-standing municipal permit issues. “Today’s commercial real es- tate environment requires an engaged and knowledgeable advisor who is willing to step outside the traditional box,” said Tragash. “At SAGE, in addition to marketing proper- ties for sale and advising on the current marketplace, we manage the friction that natu- rally occurs during complex deals. Transaction expertise, which comes with experience, Yitzi Jachimowitz of Eretz Realty represented the ten- ant, which is relocating from a Union County location to accommodate its expanding operations. The move to 1 Buckingham Ave. will provide greater distribution efficiency and the flexibility to support near-term growth. “This transaction was a true collaborative effort, with each party bringing expertise, re- sponsiveness and a shared commitment to moving the deal forward,” said Ganas. “The landlord worked closely with ERTH AMBOY, NJ — Lee & Associates New Jersey Office has arranged a 250,000 s/f lease with a freight transporta- tion services provider at 1 Buckingham Ave. in Perth Amboy, bringing the 407,700 s/f industrial building to full occupancy. The commercial real estate firm’s Claudia Ganas, Monica Franco, Ana Carolina De Araujo and Ryan Mojares represented the landlord, MayPerth LLC, in the transaction. P

28-unit multifamily property in Kearny

1 Buckingham Ave. in Perth Amboy

the tenant to accommodate its specific warehouse require - ments, while the property’s proximity to key ports and ma- jor highways provided the loca- tion and distribution efficiencies the company was seeking.” 1 Buckingham Ave. offers access to the New Jersey Tpke., I-287, and Rtes. 440, 9 and 35, and is proximate to the Outerbridge Crossing, Newark Liberty International Airport, and several major maritime ports and cargo facilities. The property features a wet sprinkler system, solar power capability, 18-foot clear ceiling

height, 34 loading docks and one drive-in door. The building’s successful lease-up underscores an im- portant trend in the Middlesex County market, according to Franco. “Demand for industrial space remains strong in Cen- tral New Jersey, while avail- able inventory remains selec- tive,” she said. “Companies are increasingly focused on finding facilities that offer the location and functionality needed to support their operations, giv- ing owners of well-positioned assets an advantage in the market.” MAREJ

The Promenade Shops at Clifton

us to earn their trust and ultimately bring the prop- erty to market,” Egan said. “The response from buyers demonstrated the strength of demand for multifamily properties in Kearny.” In Clifton, Shinjuku Station Revolving Sushi Bar signed a 5,000 s/f lease at The Prom- enade Shops at Clifton, 850 Rte. 3. The concept is expected to open later this year. RIPCO executive vice presi- dent Curtis Nassau and man- aging director Patrick Brake represented the landlord, Clifton Lifestyle Center, LLC. Jiang Yifan of RE/MAX Real Estate Professionals represented the tenant. The restaurant will fea- ture a revolving sushi concept and tableside robot service. The 145,000 s/f lifestyle center includes LA Fitness, Sephora, Ann Taylor Factory, J. Jill, Chico’s, Paris Baguette, J. Alexander’s Restaurant and Tommy’s Tap & Tavern, and benefits from visibility along Rte. 3, where 130,000 vehicles pass daily. MAREJ

NORTHERN NEW JER- SEY — RIPCO Real Es- tate recently completed two transactions in Northern NJ, including the $4.135 million sale of a 28-unit multifamily property in Kearny and a 5,000 s/f restaurant lease at The Promenade Shops at Clifton. In Kearny, RIPCO arranged the $4.135 million sale of a 30,585 s/f multifamily prop- erty featuring 28 residential units—16 one-bedroom and 12 two-bedroom apartments—as well as a pharmacy that has operated at the property since 1952. Casey Egan , director, investment sales, represented the buyer and seller. The ownership group had held the property since 1979 and worked with Egan follow- ing a relationship dating back to 2018. Relisted at $4.2 mil- lion, the property generated seven written offers, including several at or above asking price. “There was a lot of compe- tition for this asset, and our longstanding relationship with the ownership allowed

Sage Real Estate Advisors arranges sale of Roselle Grande, a 119-unit apartment community

Roselle Park

is integral to navigating the unique challenges inherent in almost every sale. This level of specialization is one of many reasons clients trust us and continue to work with us.” During the seller’s deliver- ables phase, the transaction encountered an unresolved permit issue. Recognizing the importance of a coordi- nated effort, SAGE spear- headed a successful resolu- tion for which Tragash and Migner spent nearly a month consulting with and engag- ing engineering companies to provide the town’s con- struction department with required documentation. Working directly with the local building department and dedicating weeks of intensive,

hands-on coordination, SAGE effectively absorbed the operational burden to en- sure a seamless path to the closing table. “Roselle Grande is a phe- nomenal asset in a dense, sup- ply-constrained market, and getting this deal across the finish line required absolute operational alignment from our entire team,” added Pine. Built in 1970 and situated on a parcel at the intersection of Roselle Park and Kenilworth, Roselle Grande consists of four buildings offering a diverse mix of studio, one-bedroom and two- bedroom layouts. The stabilized property features historically high occupancy rates, on-site parking and dedicated laundry facilities. MAREJ

Vantage handles the sale of an 11-lot assemblage in Atlantic City

ATLANTIC CITY, NJ — Vantage Commercial an- nounced the sale of an 11-lot assemblage (±0.57 acres) at 1829 Arctic Ave. in Atlantic City to Yum & Chill, LLC, which will be developing the site as a new Wendy’s quick-service restaurant. Vantage Commercial rep- resented both sides of this transaction: • Ken Richardson & John Doss represented the seller • Leor Hemo , president and CEO, represented the buyer. MAREJ

1829 Arctic Ave. in Atlantic City

Page i Page ii Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42

Made with FlippingBook Annual report maker