12C — April 2023 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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P eople on the M ove
Panel speaks on state of New Jersey CRE industry IOREBA Hosts 28th Annual Developer’s Night
Larken Assoc. promotes Dorell to director of design
Associates’ commercial and residential portfolio. In ad - dition, Dorell will continue to build relationships with manufacturers and outside professionals to expand the company’s design capabili - ties and resources. Looking ahead, Dorell will lead the researching of new trends in design as well as materi - als and technologies for use across the firm’s existing and planned commercial and residential properties. “It has been extremely re - warding to see Jillian’s growth during her time at Larken Asso - ciates,” said David Gardner , president and chief executive officer of Larken Associates. “Jillian has been an invaluable member of our construction team since 2015, leveraging her keen eye for detail and her com - mitment to constantly learning to contribute significantly to our success. We applaud her for her tremendous efforts and are excited to see what the future holds for her." Dorell added, “When I joined Larken Associates, I was im - mediately impressed by the company's unwavering commit - ment to excellence in both their commercial and residential properties. As someone who holds themselves to equally high standards, I take great pride in the trust they have placed in me to help the com - pany continue to improve our processes and raise the bar for what our tenants and residents can expect at every Larken As - sociates property.” MAREJ ture projects and worked with both private and public sector clients. At JLL, Mackenzie will create and lead an energy resilience business that sup - ports the development and implementation of distrib - uted energy and microgrid solutions that achieve climate goals for public sector and commercial clients. “Doug’s experience will be instrumental as he leads and advances our practice in the renewable energy space,” said Oakley. “His wealth of knowl - edge regarding energy resil - ience will help us continue to provide our clients with best- in-class advisory services.” Mackenzie earned his Bach - elor of Science degree in elec - trical engineering with a focus in power and energy from the University of Denver and his Master of Science degree in applied economics from Johns Hopkins University. MAREJ
BRANCHBURG, NJ — Larken Associates an - nounced the promotion of Jil-
lian Dorell to director of design. D o r e l l joined Larken Associates in 2015 and has quickly estab - lished herself as one of the construction
EANECK, NJ — The Industrial and Office Real Estate Brokers Association (IOREBA) of New Jersey hosted its an - nual Developer’s Night event at the Marriott at Glenpointe Hotel in Teaneck on Monday, March 27, 2023. A panel of veteran real estate experts offered their views on the state of New Jersey’s office, industrial and multi- family housing marketplaces and educated the audience on growing trends and predi - cations for the coming year. The panel offered both opti - mism and confidence but also frustration about economic headwinds. Over 300 guests from the commercial real es - tate industry were on hand for the event which included panelists Bill Waxman, a broker and vice chairman with Cushman & Wakefield; Jesse Harty, SVP Market Officer NJ/NY, Prologis; Gretchen Wilcox, founder and president of G.S. Wil- cox & Co; Jeremy Neuer, senior managing director with JLL’s Capital Markets team; Rick Vanderbeck, VP sales/leasing, Hartz Mountain Industries; and Peter Bronsnick, execu- tive managing director and NJ managing principal with Cushman & Wakefield. Goeffrey Schubert, a part- ner with Lee & Associates, served as moderator. “We were fortunate to have this panel whose expertise and experience spans many decades in the industry” said IOREBA president Jeffrey Greif. It was echoed by all speakers that there still remains growth in all areas with industrial and multi-family products still showing dominance however caution abounds. “I can’t pre - dict the future. I can tell you that we are busy, but I like to compare it to eating soup with a fork” Bill Waxman said. “Nobody wants to be the last tenant to pay $25 bucks a foot, so things are taking a lot lon - ger to get done. Tenants have choices. Negotiation is back.” “Certainly, there’s a lot of turmoil out there, especially with the recent bank failures” commented Gretchen Wilcox, Developer’s Night first woman speaker. “I think that those are somewhat isolated - there may be a few more, but I really T
Jillian Dorell
and design industry’s bright - est stars. Working closely with Larken Associates’ develop - ment, marketing and leasing teams, Dorell has played an integral role in many aspects of the company’s residential and commercial design work from tenant build-outs to new construction. Dorell’s attention to detail and creativity was highlighted by her recent success in man - aging the design of Autumn Ridge, a brand-new 198-unit multifamily community in Lopatcong. Harnessing her vi - sion and understanding of the demands of today’s residents, Larken Associates created an unmatched residential experi - ence and earned the prestigious Community of the Year and Best Home in a Rental Com - munity Awards from the New Jersey Builder’s Association as well several other awards throughout 2022. As director of design, Dorell will build upon her success to lead the creation of a com - pany-wide aesthetic and de - sign standard across Larken
Shown from top left: Geoffrey Schubert, Lee & Associates, IOREBA Secretary Kurt Kalafsky (Aztec Company), Lorenzo Lambiase, IOREBA Treasurer (NAI James E. Hanson). Bottom row (from left) - Jesse Harty of Prologis, Jeremy Neuer of JLL, Ryan Tiger of Punia (IOREBA VP), Jeffrey Greif of First American Title (IOREBA President), Bill Waxman of Cushman & Wakefield, Rick Vanderbeck of Hartz Mounty Industries, Gretchen Wilcox of G.S. Wilcox & Co. and Peter Bronsnick of Cushman & Wakefield.
IOREBA president Jeffrey Greif John Johnson, past IOEBA presi- dent) and Dave Violette
don’t see an avalanche kind of effect.” On the bright side she noted “We’re seeing an influx from insurance companies who are coming out with new programs to finance either straight construction loans for fixed-rate construction-to- perm loans.” Jeremy Neuer thinks “the second half of the year is go - ing to be more transactional than the first half of the year” and added “we’ll see what the Fed does on May 3rd. If we get some stability, the lenders will come back.” He agreed with Gretchen Wilcox that the life science companies are very active right now.” “I think we’re all trying to figure out how the environ - ment is going to change even further, but we’re very posi - tive. I would say that second- generation space, existing product is actually seeing higher rent increases than first-generation, new con - struction product” commented
JLL hires Mackenzie as VP, energy resilience
Jesse Harty of Prologis. Rick Vanderbeck agreed. “So, de - spite the different paths we’re all going down, we remain op - timistic and we still think rates will hold although at some point there has to be some kind of correction” he added. Another key topic the panel discussed was the work-from- home dynamic and speaker Pe - ter Bronsnick said “I actually think that the work-from-home dynamic is beyond a real estate issue - I think it’s a social is - sue that impacts everything from large institutions to local retailers and small businesses and we can’t ignore it’s impact on the GDP.” New Jersey continues to undergo a repositioning of its many corporate campuses that are becoming functionally ob - solete. In the face of economic headwinds all sectors are ad - justing and there’s a reset or normalization returning to he market MAREJ
WASHINGTON, DC — JLL has hired Doug Mack- enzie as VP, energy resilience,
for its Clean Energy and Infrastruc - ture Advi - sory team. In his new role, he will advise public and private clients on energy and
Doug Mackenzie
sustainability, including dis - tributed generation, demand management, microgrids and other solutions related to ensuring sufficiency and reli - ability of their energy supply. Mackenzie’s nearly 10 years of experience includes work - ing as the director of federal energy security for large engi - neering firm Black & Veatch, where he led the development of more than $700 million in distributed energy infrastruc -
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