Real Estate Journal — Owners, Developers & Managers — October 24 - November 13, 2014 — 7B
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M id A tlantic
O wners , D evelopers & M anagers Townsend,MacLaren,Talone&Newtonhandletransactions Marcus &Millichap Phila. office brokers $4.483m in sales
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Chantilly, VA — Bow- man Consulting has acquired Omland Engineering Asso- ciates , a 40+ person engineer- ing firm with offices across NJ. With the addition of Omland, Bowman continues to expand its national presence with over five hundred professionals lo- cated inmore than thirty offices throughout thirteen states and the DC. “Omland brings a long stand- ing presence throughout the NJ and NYmarkets. This addition is a great opportunity for us to continue our expansion into one of the largest and most dynamic metropolitan areas in the coun- try,” said Gary Bowman , president of Bowman Consult- ing. “ Stan Omland has built a great reputation for his firm and we look forward to having Stan be an integral part of our continued growth and success.” Omland Engineering, head- quartered in Cedar Knolls, NJ, was founded in 1997 by Stanley Omland. Over the past three years, Omland Engineering will op- erate under its current brand through the remainder of the year after which it will transi- tion to Bowman Consulting. n BowmanConsulting acquires Omland Engineering “Hanover Courts represent- ed a value-add opportunity that many investors look for in today’s market. While the property was operating at above-market vacancy, many investors saw the chance to ac- quire a garden style apartment community in the 422 corridor with pitched roofs, private entrances, and central air for well below replacement cost,” OTTSTOWN, PA — Marcus & Millichap announced the sale of Hanover Courts, a 92-unit apartment property located in Pottstown. The asset sold for $3.95 million. Clarke Talone, Ridge MacLaren and Andrew Townsend , multifamily in- vestment specialists in Marcus & Millichap’s Philadelphia office, had the listing to mar- ket the property on behalf of the seller, a partnership. The buyer, a regional limited li- ability corporation, was secured and represented by Andrew Townsend, Ridge MacLaren and Clarke Talone. P
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said Talone. “The buyer recognized that with some repositioning and increased marketing efforts, Hanover Courts’ occupancy and rents could be brought more in
line with the healthy Pottstown rental market,” said Townsend. “The buyers executed a smooth transaction in a timely manner. This should prove to be strong investment for them.” n
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