ISSUE HIGHLIGHTS Volume 32, Issue 20 Nov. 13 - Dec. 10, 2020

OCKAWAY, NJ — Two of New Jersey’s real estate develop- R City National Bank provides financing in partnershipwith Provident Bank KRE Group & Russo Development secure $71 Million construction loan

program honors members of the NJBA who have made major contributions to the home building industry. The SAM award recipients are recognized for creating excit- ing and cutting-edge projects and delivering first in class service in a highly competitive market. Vermella Union, introduced in 2019, received the Best New Mixed-Use award for its effort- less blend of robust amenity offerings combined with sup- porting retail in an exceptional location directly on the Union train line. Annin Lofts in Verona re- ceived the Best Redevelop- ment Award for its rehabilita- tion of the historic Annin Flag Factory, the largest U.S. Flag maker since 1847. MAREJ

project. The financing was provided by City National Bank in partnership with Provident Bank . Branded Rock Pointe, con- struction is underway on the upscale garden-style apart- ment community which will be part of KRE’s Garden Col- lection. “After many years of deep respect and friendship with the Russo family, we are thrilled to finally call them our partners,” said Jona- than Kushner , president of KRE Group. “With our shared commitment to quality and resident satisfaction, we look forward to delivering an ex- ceptional product to this desir- able Morris County location.” “We are so happy to be col- laborating with KRE on this

dynamic project,” said Ed Russo , CEO of Russo Devel- opment. “Our dedication to building first-class projects with unparalleled service and amenities is a value we share with our new partners, and we are excited to see our collective synergies come to life in this development.” The four-story buildings was designed by Minno &Wasko Architects and Planners . In other Russo news, the New Jersey Builders Asso - ciation has recognized Russo Development’s reinterpreta- tion of the residential rental experience with two Sales & Marketing Awards for its Vermella Union community in Union and one for Annin Lofts in Verona. In its 33rd year, the SAM


ment com- pani es are teaming up to deliver a new 345-unit luxury rental communi ty in Rockaway, NJ. Joint ven-


Jonathan Kushner

ture partners K u s h n e r R e a l E s - tate Group (KRE) and Russo De- velopment have closed o n a $ 7 1 million con- struction loan to complete the Ed Russo


Section D


Cohen&Nevins of NorthMarq negotiates $45.5M refinance of Camelot at La Mer V

community developed by Ka- plan Companies . The fixed rate financing was structured on a fully amortizing, 35-year term through one of NorthMarq’s correspondent life insurance companies. Earlier this year, NorthMarq arranged a $15.5 million, 35-year self-amortiz- ing loan for another Kaplan property with a national life insurance company. That property consists of 117 units and is located in Perth Am- boy, NJ. “The Kaplan Companies are a best in class devel- oper of premier apartment communities and requested me to arrange long term, self-amortizing loans,” said Cohen. “We received multiple competitive quotes and I am pleased to have assisted in this outstanding execution.” As a capital markets lead- er, NorthMarq offers com- mercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. MAREJ


Gary Cohen

Marc Nevins

SAYREVILLE, NJ — Camelot at La Mer V has obtained a $45.5 million loan arranged through the New Jersey office of NorthMarq.


Directory ROP (Front Section) .................................... Section A Contributing Columnist ...................... Stout & Caldwell WETLANDS 101: The History, Impact and Considerations ... 2A Retail Development Reimagined . ..................... 5-11A Business Card/Billboard Directory....................... 15A Organization Calendar of Events .......................... 16A New Jersey.......................................................1-18B Pennsylvania.................................................19-BC B Owners, Developers & Managers ............... Section C Financial Digest .......................................... Section D Lenders Directory...........................................14-16D www.marej.com

Camelot at La Mer V

Gary Cohen , managing director and Marc Nevins , vice president oversaw the transaction. The property is

a 273-unit apartment com- munity located in Sayreville, NJ and is part of Overlook at La Mer, a master planned

Inside Cover A — November 13 - December 10, 2020 — M id A tlantic Real Estate Journal








M id A tlantic Real Estate Journal — November 13 - December 10, 2020 — 1A



Bank of America Middletown, NY $5,647,000

McDonald’s Linden, NJ $3,283,000

Bank of America Petersburg, VA $950,000

Outback Steakhouse & M&T Bank Clifton Park, NY $2,734,977 Mission BBQ & Sport Clips Marlton, NJ 3,8 0,810

Mission BBQ & Sport Clips Marlton, NJ $3,830,810 Wendy’s E ie, PA 464,45

IHOP Grove City, OH $1,948,479 Starbucks Plaza Hammond, IN 2,76 ,130

Shoppes of Southland Orlando, FL $3,775,000 Chick-fil-A Stafford VA 2 800,0

7-Eleven Coppell, TX $4,400,582 Dunkin’ Do uts Fleetwood, PA 1 536,000

Bojangles La Follette, TN $1,951,220 Burger King Pensacola, FL ,100,00

Panera Bread Harrisburg, PA $2,025,000

7-Eleven Coppell, TX $4,400,582 Citizens Bank Ostervil e, MA 2,1 ,000

AutoZone Philadelphia, PA $2,232,000

Ethan Cole, PA Broker of Record License RMR003168, NY Broker of Record License 10491208561, FL Broker of Record License BK3382287 Andrew O’Connell, IN Broker of Record, License 475.162716 | LLD Enterprises, LLC, NJ Broker of Record License 9132520 New England Commercial Brokerage, VA Broker of Record, License 0225214094





2A — November 13 - December 10, 2020 — M id A tlantic Real Estate Journal


We are searching for high-level professionals to write a by-lined article about their area of expertise for upcoming spotlight features.Suggested topics include, but are not limited to: WANTED AUTHORS WITH A FLAIR

M id A tlantic Real Estate Journal

M id A tlantic R eal E state J ournal Publisher, Conference Producer . .............Linda Christman AVP, Conference Producer ...........................Lea Christman Publisher ........................................................Joe Christman Editor/Graphic Artist ......................................Karen Vachon Contributing Columnist ............................ Stout & Caldwell Mid Atlantic R eal E state J ournal ~ Published Semi-Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal 350 Lincoln St, Suite 1105, Hingham, MA 02043 USPS #22-358 | Vol. 32, Issue 18 Subscription rates: 1 year $99.00, 2 years $148.50, 3 years $247.50 & $4.00 single issue - plus postage REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Phone: 781-740-2900 | Fax: 781-740-2929 www.marej.com

WETLANDS 101: The History, Impact and Considerations


Development • Industrial Market • M ulti-Family Market Retail Market • Distribution Centers


istorically, wetlands were viewed as use- less areas of land

• M ediation • Real Estate Law • Mold Environmental • Architecture • Engineering

filled or used for refuse dis - posal. However, freshwater and coastal wetlands play a vital role in the function- ing ecosystem. They provide a unique habitat for many species of flora and fauna, enhance water quality by re- moving nutrients and serve as storage for floodwaters. To protect their integrity, wetlands are regulated at the Federal and State levels, and increasingly by many county and municipal agencies. The potential impact of wetlands upon a particular property’s value should be considered in all real estate transactions. Similarly, this is true for potential needs re- lated to development projects. Whether specific to property purchase and development, wetlands should be profes- sionally reviewed employing a three step process: STEP 1 – IDENTIFICA- TION Using methodology estab- lished by the US Army Corps

Call 781-740-2900 or email editor@marejournal.com

of Engineers, the presence, ab- sence and/or limits of wetlands are identified and established. This is done through an exten- sive investigation of soils, veg- etation and hydrologic indica- tors. The identification process should be completed by a qualified individual who has the proper training, familiar- ity and expertise in employing appropriate and proven tech- niques to accurately evaluate a particular property specific to the presence of wetlands STEP 2 – VERIFICATION Once areas of wetlands have been identified on a prop- erty, their limits (boundar- ies) should be verified by the respective overseeing govern- mental agency. Depending on a particular wetlands resource value, function, configuration

and watershed affiliation, the extent to which the area will be regulated can be es- tablished. During this same verification process, establish - ment of upland transition ar- eas (wetland buffers) are also made. These buffers are also strictly regulated as important to a functioning ecosystem and further protect the adjoining wetlands from adjacent devel- opment activities. STEP 3 – MANAGEMENT The identification of wetlands does not negate property value or prevent development. Rather the presence of wetlands needs to be managed as part of the development process. Designs must take into account the ar- eas of wetlands and their asso- ciated buffers. They can further continued on page 7A


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 A t t o r ne y s a t Law


M id A tlantic Real Estate Journal — November 13 - December 10, 2020 — 3A


M id A tlantic R eal E state J ournal

Sabre Systems, Inc. leases 12,521 s/f at 101-163 East County Line Rd. in Warminster Bell of Newmark completes office leases totaling 30,232 s/f at the County Line Commerce Center

action of four leases total- i ng 30 , 323 s/f at County L i n e Com- merce Cen- ter, located a t 101 - 163 East County Line Rd. in W

ARMINSTER, PA — Newmark an- nounced the trans-

Justin Bell

Warminster. The leases include 12,521 s/f leased to Sabre Sys- tems, Inc.; 10,655 s/f leased to Youbill, Inc.; 4,000 s/f leased to ScanSource, Inc. and 3,147 s/f leased to Procensis, Inc. Newmark managing director Justin Bell represents owner, Balashine Properties, a Pennsylvania- based company acquiring class A and value add office buildings to provide first- class management. “With renovations at the County Line Commerce Center campus and the addition of an amenity center, we have seen a healthy amount of tenant interest,” said Bell. “Property improvements have proven Adams of NAI Summit leases 15,500+ s/f in PA BETHLEHEM, PA — NAI Summit’s Mike Adams rep- resented the landlord in the The class A building includes fenced in storage, drive-in door, and easy access to major highways. Five Maidens Cider offers quality craft beverages, specifically alcoholic cider and alcoholic seltzer water. They plan to use the space to brew and serve their beverages. Adams represented the ten- ant, Haller Enterprises, in the multi-year lease for 4,800 s/f warehouse space in 2125 SW 28th St. in Allentown. Haller Enterprises provides skilled technicians available 24/7 across Central and Eastern PA for all your repair and installa- tion needs for heating, cooling, plumbing, and electrical ser- vices. Haller currently has five additional locations through- out Pennsylvania. MAREJ l o n g t e r m lease transac- tion with new tenant, Five Maidens Ci- der, for 2,260 s/f warehouse space at 327 Polk St . in Bethlehem. Mike Adams

County Line Commerce Center

very successful, leading to four leases, with our most recent

being completed during this challenging COVID-19 environ-

ment. County Line Commerce Center has additional space

available with a full suite of amenities for tenants.” MAREJ

Increasing cash flow one property at a time COST RECOVERY SOLUTIONS LLC CRS

4A — November 13 - December 10, 2020 — M id A tlantic Real Estate Journal


M id A tlantic R eal E state J ournal

EW YORK, NY — Cajun seafood res- taurant Hook & Reel Briskin and Dries represent both parties in transaction Hook & Reel Restaurant signs new lease at The Feil Organization’s Concourse Plaza in the Bronx N the 9,596 s/f Hibachi Grill & Supreme Buffet at Concourse Plaza since 2016.

“The leasing of a second restaurant location for this tenant in the same center, even during the COVID-19 pandemi c indi cates the strength of the shopping cen- ter, serving both the densely populated community and the neighboring court house,” said Randall Briskin , vice president of leasing at The Feil Organization. The 311,650 s/f multi-use Concourse Plaza is located just off of Grand Concourse, the major north-south thor- oughfare that connects Man- hattan and the northern Bronx. The center serves more than 1.2 million con- sumers within a three-mile radius and is adjacent to the two million s/f Bronx County Court House and Bronx Mu- nicipal Building, and is four blocks fromYankee Stadium. Feil completed an $18 mil- lion renovation of the center in 2016, which included a renovation of the 51,680 s/f Food Bazaar, one of the largest grocery stores in the Bronx, and the complete repositioning of the shop- ping center which included a façade renovation and the re- tenanting of the center with prominent retailers such as Kidstown and Rainbow Stores. Concourse Plaza’s current tenant roster also in- cludes Blink Fitness, Hibachi Grill, CVS, Santander, and Bank of America. A popular fast-casual Cajun seafood chain restaurant, Hook & Reel promotes hospi- tality and shared meals. The restaurant offers a variety of build-your-own seafood-boil options featuring crawfish, lobster tail and snow crab, as well as catfish sliders, sea - food po’ boys, hush puppies and paella. The Maryland- headquartered establishment originally opened in 2015 and now operates 42 locations in 22 states across the country. Concourse Plaza remains a premiere shopping destina- tion. It’s strategically located just off of the Grand Con- course, the major north-south thoroughfare that connects Manhattan and the northern Bronx. Randall Briskin and Nicho- las Dries represented both the tenant and The Feil Organiza- tion in the transaction. MAREJ

has signed a 15-year lease for 5,656 s/f at Concourse Plaza in the Bronx announced The Feil Organization , the shopping center’s owner and manager. The new Cajun restaurant will commence construction at the center within the next few months and will be situ- ated on the ground floor next to anchor tenant Food Bazaar Supermarket. Hook & Reel is the second restaurant lo- cation at the center for the tenant, which has operated

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R etail D evelopment R eimagined

M id A tlantic Real Estate Journal — Retail Development Reimagined — November 13 - December 10, 2020 — 5A


Shaffer, Khan, Rohrbaugh, and Stine represent landlord in Loyalsock Township, PA transaction Bennett Williams Commercial coordinates lease for 55,039 s/f retail space at Loyal Plaza L Rohrbaugh, and Stine repre- sented both the tenant and the landlord in the transac- tion.

600 s/f retail space at Co- lonial Village Plaza, 2656 N. Susquehanna Trail, Shamokin Dam Borough. Traditional Home Health Care leased the space from University Park Plaza Corporation. Shaffer, Vo, GaryRussell , Rohrbaugh, and Stine of Bennett Williams Commercial represented the landlord in the transaction. 1,600 s/f retail space at North Atherton Place, N. Atherton St. & Vairo Blvd, Ferguson Twp. OneMain Financial leased the space from Waters Retail Group . Russell represented the tenant in the transaction. 1,500 s/f retail space at Hampden Centre, 4900 Carl- isle Pike, Hampden Twp. Rita’s Italian Ice leased the space from Hampden Center, Inc. Shaffer, Rohrbaugh, and Stine represented the tenant and Shaffer, Russell, Rohrbaugh, and Stine represented the landlord in the transaction. 44,761 s/f retail space at Mount Joy Square Shopping Center, 945 E. Main St., Ra- pho Twp. Stauffers of Kissel Hill leased the space from Mount Joy Square Associates. Rohrbaugh and Stine rep- resented the landlord in the transaction. MAREJ

OYALSOCK TWP. , PA — Bennett Wil- liams Commercial has arranged the sale/lease of the following transactions: 55,039 s/f retail space at Loyal Plaza, 1875 E. Third St., Loyalsock Twp. Hobby Lobby Stores, Inc. leased the space from Loyal Holdings DE, LLC . Blake Shaffer, Abe Khan, Brad Rohrbaugh, and Chad Stine of Ben- nett Williams Commercial represented the landlord in the transaction. Loyal Hold- ings acquired Loyal Plaza which is anchored by a high volume Giant Supermarket in November 2018 and has since implemented several improvements. “Our original business plan was to reposi- tion the Kmart box and we are very pleased with the leasing velocity which is a testament to the center and the greater Williamsport market,” Ger- shon Alexander , principal at Loyal Holdings, said in the release. 1,200 s/f retail space at Stonybrook Shopping Center, 3617 E. Market St., Sprin- gettsbury Twp. Salon Alola leased the space from SJC Property Management, LP.

750 s/f retail space at 137 Nutt Rd., Phoenixville Bor- ough. MC Decorations leased the space fromContella, LLC. Bill Hess of Bennett Williams Commercial represented the landlord in the transaction. 1,000 s/f retail space at 6 S. Main St., Stewartstown Borough. Deb’s Art Designs leased the space from KBR Property Management, LLC. Shaffer, Vo, Rohrbaugh, and Stine represented the land- lord in the transaction. 1,400 s/f retail space at The Heights Plaza, 180 Leader Heights Rd., York Twp. State Farm Insurance leased the space from Heights Realty, LLC. Neiderer, Rohrbaugh, and Stine represented the landlord in the transaction. 6,000 s/f retail space at Midway Shopping Center, 1020Wyoming Ave., Wyoming Borough. Anytime Fitness leased the space from Mid- way SC, LLC. Blake Gross , Rohrbaugh, and Stine of Ben- nett Williams Commercial represented the landlord in the transaction.

Loyal Plaza

Shaffer and Justin Willits of Bennett Williams Com- mercial represented the ten- ant and Adam Hagerman , Rohrbaugh, and Stine of Ben- nett Williams Commercial represented the landlord in the transaction. 1,170 s/f retail space at Kingston Square, 2500 East- ern Blvd., Springettsbury Twp. LifeSmoke Vapor leased the space from Kingston Square Associates, LLC. Shaf- fer, Tommy Vo , Rohrbaugh, and Stine of Bennett Williams Commercial represented the landlord in the transaction. 1,330 s/f retail space at The Heights Plaza, 180 Leader Heights Rd., York Twp. Taco House, LLC leased the space

from Heights Realty, LLC. Karen Neiderer of Bennett Williams Commercial repre- sented the tenant and Nei- derer, Rohrbaugh, and Stine represented the landlord in the transaction. 2,460 s/f retail space at Eph- rata Crossing, 823 E. Main St., Ephrata Twp. Chipotle Mexican Grill of Colorado, LLC leased the space from Property Investing and Man- agement, Inc. Hagerman, Rohrbaugh, and Stine rep- resented the landlord in the transaction. 1,400 s/f retail space at Constitution Plaza, 6-18 Con- stitution Ave., Shrewsbury Borough. Jalapeno leased the space from Qui Ma. Neiderer,

Moawad of LevinManagement arranges Planet Fitness lease totaling 20,000 s/f at Mayfair Shopping Center in Commack, NY

industry is moving forward despite a challenging environ- ment,” Moawad said. “Pre- pandemic, sustained demand for affordable, well-located gyms made this one of the most active sectors in brick-and- mortar retail. Even in the face of current restrictions, leasing interest continues. Planet Fit- ness is a great complement to the mix of tenants at Mayfair Shopping Center. Its high- quality member experience and affordable price point promises to make it a wel- comed new amenity for those who live and work in Commack and the surrounding area.” Well located on the heavily traveled Jericho Tpke., just west of the Sunken Meadow Parkway, Mayfair Shopping

Center is anchored by a 60,000 s/f Best Market supermarket. The center’s impressive lineup of national and regional ten- ants includes Rite Aid, Loft, Sherwin Williams, Northwell Go Health, Capital One Bank, Verizon Wireless, Prato 850, The Tutoring Center, Music & Arts, Outback Steakhouse, Tropical Smoothie and Game- Stop, among others. Mayfair Shopping Center serves a growing residen- tial population of more than 200,000 people within a five- mile radius. The marketplace offers an average household income of more than $145,000. Remaining space availabilities at Mayfair Shopping Center range from 1,200 s/f to 12,000 s/f. MAREJ

COMMACK, NY — Planet Fitness, one of the largest and fastest-growing global franchisors and operators of fitness centers in the United States, has leased 20,000 s/f at Mayfair Shopping Center in Commack. LevinManagement Corporation (LMC) is exclusive leasing and managing agent for the 221,000-square-foot Long Island shopping center. LMC leasing representative E.J. Moawad represented the property in negotiating the long-term transaction; Jack Chera of Crown Retail Ser- vices represented the tenant. The new Mayfair Shopping Center facility will be corpo- rate-owned and managed by Planet Fitness, a distinguish- ing quality as more than 95%

Mayfair Shopping Center

of the brand’s locations are franchisee-owned. Planet Fit- ness’ mission is to provide a high-quality fitness experi- ence in a non-intimidating environment, which it calls the “Judgement Free Zone.” Mem-

bers enjoy a variety of benefits including brand-name cardio and strength equipment, fully equipped locker rooms, flat screen televisions and more. “This commitment is a posi- tive indicator that the fitness

6A — November 13 - December 10, 2020 — Retail Development Reimagined — M id A tlantic Real Estate Journal


R etail D evelopment R eimagined

Moreland Development plans to build a new 13,074 s/f CVS Rose Commercial Real Estate negotiates the purchase of prime retail site in Cherry Hill, NJ


Buyer Moreland Devel- opment, LLC of Bala Cyn- wyd, PA, has already broken

HERRY HILL, NJ — The Rose Com- mercial Real Es-

tate team of AdamRose , p r e s i d e n t , a n d J e f - frey Lucas, di rector of business de- velopment , ne g o t i a t e s the purchase of two prime

g r ound on the project, wh i c h i n - vo l ve s the r ede v e l op - ment of sev- eral adjacent lots, includ- ing 1803 & 1807 Spring- dale Rd. and

Adam Rose

Jeffrey Lucas

retail acres at the intersection of Route 70 East and Spring- dale Rd. in Cherry Hill for a new 13,074 s/f CVS.

1900-1904-1906 Route 70 East. High traffic count and dense population are just two of the reasons the site

Intersection of Route 70 East and Springdale Rd. in Cherry Hill, NJ

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was selected for the national pharmacy and retailer with a planned opening in the sum- mer 2021. “This is not the first time we have worked with Mo- reland Development,” Rose said of the real estate devel- opment company founded in 1999 and partner, Eric Seid- man . “I have known Seidman for years and admire every member of his team. Their professionalism is beyond reproach.” The sale, which in- volved multiple sellers, closed on October 8, 2020 for a price of $4 million. MAREJ Cushman & Wakefield | Thalhimer handle 13,300 s/f lease at Chesterfield Marketplace RICHMOND, VA — Cush- man & Wakefield | Thal - himer recent Richmond area lease transactions: Boil Bay Cajun Seafood & Bar leased 13,300 s/f of retail space at Chesterfield Market - place, 11110 Midlothian Tpke. in Chesterfield County. Alex Wotring and James Ashby IV handled the lease negotia- tions on behalf of the landlord. Harbour Point Family Phy- sicians renewed their lease of 12,336 s/f of office space at 13520 Hull Street Rd. in Ches- terfield County. Mark Doug- las, CCIM, SIOR handled the lease negotiations on behalf of the tenant. Woodcraft renewed their lease of 10,000 s/f of retail space at Broad St. Plaza, 9864-9900 West Broad St. in Henrico County. Connie Jordan Nielsen and Nicki Jassy handled the lease ne- gotiations on behalf of the landlord. MAREJ

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M id A tlantic Real Estate Journal — Retail Development Reimagined — November 13 - December 10, 2020 — 7A


R etail D evelopment R eimagined

ED BANK, NJ — Denholtz Proper- ties , a privately held, Melonhead will take 565 s/f of the development’s 6,500 s/f of ground-level retail space Denholtz Properties announces first retail tenant for transformative Red Bankmixed-use community R healthy breakfast options for an easy way for commuters to start their day.

“The Rail @ Red Bank’s retail tenants are not only an exciting amenity for the building’s resi- dents but a key component in jumpstarting the local economy surrounding the train station,” said Steven Denholtz , CEO of Denholtz Properties. “Through attracting in-demand and grow- ing tenants like Melonhead as well as new residents, we are confident that The Rail @ Red Bank will be a powerful cata- lyst in the continued growth of the business community on the West Side.” MAREJ

fully integrated real estate development and investment company, announces it has inked its first lease for The Rail @ Red Bank, a mixed-use ground-up development project in Red Bank’s West Side neigh- borhood. Melonhead, a juice, smoothie and acai bowl shop, will take 565 s/f of the develop- ment’s 6,500 s/f of ground-level retail space with an anticipated April 2021 opening. Currently under construc- tion, the completion of The Rail @ Red Bank in 2021 will mark the next chapter in the ongoing evolution of Red Bank’s West Side neighborhood. Strategi- cally located next to the Red Bank train station, the site is also adjacent to the recently renovated 30,000 s/f 116 Chest- nut St. office building that is home to Denholtz Properties’ corporate headquarters. Since opening the first loca - tion in Sea Bright in 2016, Melonhead founder Nick Fran- gipane has taken inspiration from his travels around the globe to inspire the unique menu filled with a diverse selection of all-natural juices, smoothies and acai bowls. His new business partner, Jim Whelan, has been a great ad- dition to the Melonhead team, bringing fresh ideas and skills to the table. Building upon the success of the first location, Melonhead’s newest location at The Rail @ Red Bank will feature a so- phisticated, island-style design with outdoor bistro seating to activate the area surrounding The Rail and the train station. Further capitalizing on their location next to the train sta- tion, Melonhead will also offer an expanded breakfast menu including coffee, oatmeal, ba- gels, and muffins as well as be managed through various permitting options, which may allow certain activities to occur within wetlands and wetland buffers. Early identification however is the key to the proper management. This approach prevents the potential need for expensive project redesign and schedule delays Stout and Caldwell Engi- neers, LLC is a New Jersey- based civil engineering firm. MAREJ continued from page 2A WETLANDS 101: . . .

The Rail @ Red Bank


Julius Borrus Broker & President Borrus Associates 340 Rte 35 South Red Bank, NJ 0771 P: 908-839-0052

borruscommre@aol.com A Member Of The International Council Of Shopping Centers NY, NJ, CT, PA INVESTMENT REAL ESTATE

8A — November 13 - December 10, 2020 — Retail Development Reimagined — M id A tlantic Real Estate Journal


R etail D evelopment R eimagined

M id A tlantic Real Estate Journal — Retail Development Reimagined — November 13 - December 10, 2020 — 9A


R etail D evelopment R eimagined

Overcoming challenges is my favorite part of the job. It’s what motivates me to tackle any project.

Craig Superintendent



10A — November 13 - December 10, 2020 — Retail Development Reimagined — M id A tlantic Real Estate Journal


R etail D evelopment R eimagined

JLL represented the landlord, Sauma Warehousing LLC Jordan Metz of Bussel Realty leases 39,996 s/f in Piscataway, New Jersey


sented the tenant, Swag Up LLC in the transaction. JLL represented the landlord, Sauma Warehousing LLC. Located near I-287, 226 Old New Brunswick Rd. is a 69,576-square-foot industrial property providing access to the New Jersey Turnpike at Exit 10 and Rte. 440 to the Outerbridge Crossing to Staten Island, NY. The prop- erty features 22- to 36-foot ceilings, eight tailboards and one drive-in door for load- ing, ESFR sprinklers, ample parking and 1,000 amps of electric power. MAREJ Larken Associates leases 2,750 s/f at Springfield, NJ shopping center SPRINGFIELD, NJ — Larken Associates negoti- ated a new lease deal with L & J Peotter Enterprise LLC for 2,750 s/f of retail space at Echo Plaza Shopping Center located at 901 Mountain Ave. in Springfield. For over 30 years, Peot- ter’s Auto Body’s focus on a superior customer service experience has made it one of New Jersey’s premier collision repair facilities. Operating out of their state-of-the-art, three- floor, facility located on Broad Street in Summit, Peotter’s team of experienced, certified technicians and customer service professionals provide the highest quality repairs to Tesla, Jaguar, Land Rover, Mercedes-Benz, BMW and Volvo vehicles. With an eye toward continued growth, Peotter’s sought to expand its business by opening a retail location to sell auto detailing supplies and conduct educa- tional programming about car care nearby their existing Summit facility. Echo Plaza Shopping Cen- ter’s location in the heart of the most heavily trafficked retail corridor in northern New Jer- sey and distance of less than four miles from their Sum - mit facility made it the ideal choice for Peotter’s new auto detailing supply store. Stand- ing at 66,567 s/f, the commu - nity retail center boasts ample highway frontage along Route 22 and Mountain Avenue and a diverse slate of retail spaces that make it a highly attrac - tive destination for a wide range of tenants. MAREJ

ISCATAWAY, NJ — Bussel Realty Corp. (BRC) , a leading in- dustrial real estate ser- vices firm in New Jersey, announced i t s l e a s ed 39 , 996 s / f at 226 Old New Bruns- wick Rd. in Piscataway, a 69,576 s/f industrial prop- erty. Jordan Metz , senior vice president of BRC, repre- Jordan Metz

226 Old New Brunswick Rd.

Self Storage

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M id A tlantic Real Estate Journal — November 13 - December 10, 2020 — 11A


M id A tlantic R eal E state J ournal Thalhimer Realty Partners purchases Riverpoint Court Colliers Int’l. announces sale of 112 unit Virginia property



VIRGINIA BEACH, VA — G.S. (Hank) Hankins , senior vice

president; Victoria Pickett , first vice president; Charles Wentworth , senior vice presi- dent; Will Mathews , manag - ing director; Clay Ellis , as- sociate; and Garrison Gore , associate, with the Colliers National Multifamily Advi- sory Group represented the seller in two separate Virginia Beach transactions. In the first transaction B&W Properties sold Carolanne Terrace, a multifamily com - munity to MRKT Capital . The community includes 112 spacious two-bedroom, two- bathroom floorplans equipped with stackable washers and dryers. Historically well oc- cupied and often with a ten- ant waiting list, Carolanne Terrace has tremendous room for revenue growth through a strategic value-add program. The property is located at 5528 Carolanne Terrace in Virginia Beach between the Virginia Beach Town Center and downtown Norfolk offer- ing convenient access to major employers and the region’s top retail. In the second transaction,

Carolanne Terrace

Riverpoint Court

F E A T U R E : N E W L O C A T I O N S M I L E S T O N E S E V E N T S R E C E N T A W A R D S P R O M O T I O N S N E W H I R E S

Riverpoint Granby, LLC sold Riverpoint Court, a 32-unit multifamily development, from to Thalhimer Realty Partners . Constructed in 1945 to offer housing and education space for hospital staff, Riverpoint Court is located along bustling

Granby St. adjacent to Bon Secours DePaul Medical Cen- ter. The two-story property underwent significant resto - ration and redevelopment in 2008 providing spacious floor - plans and modern amenities while maintaining its historic charm. MAREJ



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12A — November 13 - December 10, 2020 — M id A tlantic Real Estate Journal


Questions? Contact: Harry Young | Executive Director 717.614.4271

harry@panjdeccim.com www.panjdeccim.com

2020 PA/NJ/DE CCIM CHAPTER OFFICERS Stacy Martin, CCIM President Hankin Group Jeff Kurtz, CCIM Vice President High Associates, Ltd. Dominic Janidas, CCIM Secretary/Treasurer Hanna Langholz Wilson Ellis John Birkeland, CCIM Immediate Past President ROCK Commercial Realty Eric Gorman, CCIM District 10 1st RVP Avir Realty Group 2020 DIRECTORS Dan Berger, Jr., CCIM Chair, Scholarships U.S. Commercial Realty Michele Countis, CCIM Chair, Designation Jackson Cross Partners Dragan Dodik, CCIM Regional Chair, Central PA Pennian Bank Philip Earley, CCIM Chair, Nominating Lieberman Earley & Company Jonathan Epstein, CCIM Chair, Public Relations Berger-Epstein Associates, Inc. Cindy Feinberg, CCIM Regional Chair, Lehigh Valley Feinberg Real Estate Advisors Craig Fernsler, CCIM Chair, Legislative KW Commercial, Blue Bell Robert Fuller, CCIM Regional Chair, New Jersey CBRE Jeffrey Hoffman, CCIM Chair, Education JPH Realty Advisors

Neil Kilian, CCIM, SIOR Regional Chair, Delaware NAI Emory Hill Laura Martin, CCIM, CPM, WBE Chair, Membership SVN | Latus Commercial Realty Group Andrew Miller, CCIM Regional Chair, Pittsburgh CBRE Kathy Sweeney-Pogwist Regional Chair, Philadelphia Metro Brandywine Realty Trust

M id A tlantic Real Estate Journal — November 13 - December 10, 2020 — 13A


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

2020-2021 Board of Directors

—OFFICERS— President:

— D I R E C T O R S —

Education Chair: Cynthia Fleming Jones Lang LaSalle

Robert Stenta Pettinaro Management, LLC

Membership Chair: James Manna BrightFields, Inc.

Vice President/Programs: Jay L. White , MAI, CRE® Apex Realty Advisory Treasurer: Barton L. Mackey, Jr. Patterson-Woods Associates

Annual Joint Holiday Event

Past President: Donald Robitzer The Commonwealth Group

November 18 (4:30 PM) Register to join us for our Annual Joint "Happy Hour" Event with other members of SIOR, CCIM, CIRC, Appraisal Insti- tute, DREW, and SWRA Commercial Chapter. This will be a virtual Zoom meet- ing, starting off with virtual networking!

Benjamin Berger , Esq. Berger Harris, LLC

Secretary: Bayard Snyder , Esq. Bayard & Associates

Keynote Speaker: Arthur Pasquarella, CRE®, Executive Vice President and COO of Equus Capital Partners, Ltd. , will speak about how Equus went about coordinating during the COVID-19 shutdown with their tenants, brokers, lenders and investors on a strategy. Addi- tionally he will talk about the asset management and leasing side of the business and how they have underwritten, marketed, sold and bought commercial real estate in 2020 and beyond. Register at: https://ccim.zoom.us/meeting/register/ tJEsd-Csrj4sHtc2NT0Wx1Tofo8TGoHIhUqo (You will receive an email confirmation with your Zoom link)

Carmen Facciolo NAI Emory Hill

— E X - O F F I C I O — Business Manager Janet Pippert Landmark Science & Engi- neering Legislative Lobbyist C. Scott Kidner C. S. Kidner & Associates Legislative Affairs Chair William Lower Harvey Hanna & Associates Economic Dev. Liaisons: New Castle County Robert Chadwick NCC Chamber State of Delaware Joseph Zilcosky Div. of Small Business

Jim O’Hara , Jr. NAI Emory Hill-Retail Division

Michael Hahn 44 Business Capital


Instruction by Frederick Academy of Real Estate 2021 Schedule of

Lorraine Sheldon NAI Emory Hill

continuing education classes First Classes: January 13, 2021 A.M. Agency (PA/MD req'd.); P.M. Agency (DE Mod. 7) CIRC's Continuing Education course instruction will be held on each 2nd Wednesday from January to May.* *The schedule will soon be posted online. (Due to regulatory requrements in the various states in which classes are accredited,

Daniel Wham DSM Commercial Real Estate

Kurt Foreman Delaware Prosperity Part- nership

Ryan Kennedy Harvey Hanna & Associates

City of Wilmington Jeffry Flynn

contact us (302) 633-1705 | Janet@circdelaware.org www.circdelaware.org

14A — November 13 - December 10, 2020 — M id A tlantic Real Estate Journal



M id A tlantic R eal E state J ournal Previously served as the organization’s executive dir. CORFAC International names Jonathan Salk CEO of org.


offices have joined CORFAC since 2015, bringing the total to 75 offices globally. Salk and staff have also been responsible for expanding the CORFAC sponsorship program, arrang - ing industry alliances to benefit the CORFAC membership, expanding programs to better meet the needs of the members, rolling out new education/ networking initiatives to keep members connected during the ongoing COVID-19 pandemic, and more. “From inception, Jonathan has been a consummate pro - fessional and highly effective leader who is equally respected by our industry, CORFAC sponsors and members alike. This is a well-deserved promo - tion,” added Latina. MAREJ

ES PLAINES, IL — CORFAC Interna- tional announced that

International in Wilmington, DE, made the announcement. “It is with great pleasure that we are announcing Jonathan Salk’s new title as CEO of CORFAC. Jonathan has been a strong asset for the organiza- tion and this accomplishment is well deserved,” said Joel. “His ability to adapt to changing en- vironments has been critical to our organization’s stability and continued success. Jonathan is the right person to navigate our organization into the post- COVID era.” Since joining CORFAC In - ternational in 2015, Salk has been responsible for day-to-day operations of the organization and has spearheaded the ini- tiatives that have resulted in ongoing growth. Thirty new

*Special Offer*

J o n a t h a n S a l k h a s been named CEO of the o r g a n i z a - t i o n . S a l k ha s p r e v i - ously served for nearly six years as the organization’s executive direc- tor. 2020 CORFAC president Alan Joel, CCIM , of Joel and Granot Commercial Real Es- tate/CORFAC International in Atlanta, GA, and 2020 COR- FAC vice president Joe Latina of Patterson-Woods Com- mercial Properties/CORFAC WILMINGTON, DE – NAI Emory Hill announced the hiring of Brian Ashby as an associate. Ashby joins NAI Emory Hill after an award-win- ning career in restaurant own e r s h i p and real es- tate. In ad- dition to working in the com - Jonathan Salk Brian Ashby

Try a 3-month free trial of the Mid Atlantic Real Estate Journal

NAI Emory Hill hires Ashby as associate mercial real estate division, Ashby is an active real estate investor, who is currently de- veloping multifamily projects in one of Philadelphia’s hot- test neighborhoods. sales, and commercial devel - opment. Ashby has a proven track record of providing unparal- leled advisory and consulting services and is excited to be a part of the NAI Emory Hill team.

Ashby is licensed in Dela- ware, Maryland, and Penn- sylvania and will be focusing on all aspects of commercial real estate brokerage, includ- ing; acquisitions, disposi- tions, landlord and tenant representation, investment

Neil Killian, CCIM, SIOR principal at NAI Emory Hill said, “Brian brings a strong background in business own- ership and real estate with him to Emory Hill.” MAREJ


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www.marej.com M id A tlantic Real Estate Journal — November 13 - December 10, 2020 — 15A M id A tlantic Business Card Service Directory

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16A — November 13 - December 10, 2020 — M id A tlantic Real Estate Journal



November 18: CIRC Event: Annual Joint Holiday Event (Virtual) Time: 4:30 PM – 6:00 PM Location: Zoom Website:

December 2: ICSC Event: CenterBuild Conference Location: Online

Cost: Member: $425 Non-Member: $725 E: recon@icsc.com December 3: SIOR

https://ccim.zoom.us/meeting/register/t JEsd-Csrj4sHtc2NT0Wx1Tofo8TGoHIhUqo November 18: SIOR Event: SIOR Webinar: Mastering Prospecting: The Ultimate Guide to Modern CRE Business Development Time: 2:00 PM – 3:00 PM Website: https://my.sior.com/events/calendar

Event: SIOR Women ’ s Leadership & Mentoring Group Networking Meeting Time: 4:00 PM to 5:00 PM Website: https://my.sior.com/events/calendar December 17: CREW NJ Event: Coffee + Conversation with CREW NJ Details: TBA Web: https://crewnj.org/events Questions: crewnjroseann@gmail.com

November 18: CREW NJ Event: Virtual Happy Hour Time: 5:00-6:00 PM Location: Zoom Meeting

Cost: Members: Free Non- members: $15 Web: https://crewnj.org/events Questions: crewnjroseann@gmail.com

Please send your events to: lea@marejournal.com

M id A tlantic Real Estate Journal — November 13 - December 10, 2020 — Inside Back Cover A


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