M id A tlantic Real Estate Journal — August 2024 — 33
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M id A tlantic R eal E state J ournal
KLNB secures tenancy for DC-area landlord client
Pino and Azarbarzin complete sale of 163 lots Northmarq sells two housing communities in Pennsylvania
WASHINGTON, DC — The KLNB landlord advisory team of principals Ken Fellows and Robert Pugh , and transaction manager Keiry Martinez , on behalf of DSC Partners, LLC , a DC-based real estate invest- ment and development compa- ny secured the tenancy of Fire & Risk Alliance, LLC, a fire
Much like in sports, things change every second, without warning. I would argue that the best in both sports and in the workplace (not necessarily specific to real estate broker - age) are incredibly dynamic and adaptive to fast acting variables outside their control, reacting to immediate stimuli but also analyzing “the next 4-5 moguls” ahead. It is this constant analy- sis that I believe has gotten me where I am today. MAREJ successful in your profes- sion? Strong work ethic and commitment, ability to adapt and learn, strong communi- cation, and being honest and kind. MAREJ the industry demands. What unique qualities and or personality do you feel makes you most successful in your profession? Success in this profession comes from the ability to listen, impro- vise, adapt, and overcome challenges. MAREJ curity measures, including staff training, to protect themselves from similar attacks. Phishing scams are often just the first step in a broader cyberattack strategy that can include mal- ware deployment or ransom- ware attacks. The growing frequency of such incidents makes it clear that no company can afford to be complacent. NETSTREIT’s ordeal serves as a crucial reminder that in today’s digital age, cybersecu- rity is not just a technical issue but a critical business risk that must be managed with the same diligence as any other financial or operational challenge. Michael Mullin is presi- dent/CEO of IBSRE, Inc., an expert cybersecurity and IT support firm in Northern New Jersey and New York City. MAREJ protection and risk manage- ment engineering consultant firm, will occupy the 16,164 s/f space at 7620 Standish Pl. in Rockville, MD. Fire & Risk Alliance was founded in 2011 and specializes in fire protection design, risk as - sessments, code consulting, and fire/explosion modeling. MAREJ
EHIGH VALLEY, PA — Anthony Pino , as- sociate broker of Manu- factured Housing Investment Sales, and Ari Azarbarzin , senior vice president in North- marq’s Baltimore office, have completed the sale of Birch Knoll and Saucon Valley Cross- ing, two manufactured housing communities in Pennsylvania’s Lehigh Valley totaling 163 lots. Birch Knoll features 92 lots located at 130 South Pine St. in Hazleton in Luzerne County. Built in 1989, the property offers an excellent invest- ment opportunity in one of the fastestgrowing regions in Pennsylvania. Pino and Azarbarzin repre- sented the seller of both sites, ME Management of State College, PA. The buyer and the sale price were not disclosed. “Saucon Valley Crossing and Birch Knoll are two high-qual- ity manufactured housing com- munities that have provided much-needed affordable hous- ing in the Eastern Pennsylvania L
continued from page 2 Phishing scam wipes out a whole quarter of earnings . . .
Birch Knoll
funds from operations (AFFO) reached 32 cents per share, marking a slight improvement from the same period last year. However, the financial loss from the scam overshadowed these gains, highlighting how a single cybersecurity lapse can significantly impact a company’s bottom line. In response to the incident, NETSTREIT engaged third- party experts to assess the situation and ensure that the breach was an isolated event with no ongoing threat to the company or its partners. The firm’s swift action is com - mendable, but the event has undoubtedly served as a wake- up call for the entire industry. As cyber threats continue to evolve, real estate companies must invest in robust cyberse-
region for decades,” said Pino. “ME Management has done an excellent job managing and improving the communi- ties over more than a decade. We are confident that the new owners will build upon the leg- acy of the previous owners and serve as excellent stewards of the communities.” Saucon Valley Crossing is located at 5002 Route 309 in Center Valley, Lehigh County and offers single and double lots. The 71-lot manufactured housing community was built in 1947 and is close to PA Rte. 309 and I-78 as well as shopping, entertainment and dining.
“Hazleton’s proximity to ma- jor highway systems such as I-80 and I-81 creates an ease of access to major cities including Philadelphia, Boston and New York,” said Pino. “The area is evolving into a warehousing and logistics hub populated by such prominent employers as Amazon, Hershey, FedEx and Frito-Lay. Amid steady population growth, Hazleton and Luzerne are well poised for compounding growth and revitalization over the next several decades.” Pino and Azarbarzin are based in Northmarq’s Baltimore office. MAREJ
ROCK Commercial Real Estate brokers sale of two York manufacturing facilities totaling $5.5M
YORK, PA — ROCK Com- mercial Real Estate an- nounced two recent York in- dustrial property sales. CDE Ventures, LLC purchased 1760 Toronita St., York, PA for $2,231,000. The 25,902 s/f, heavy manufacturing facility is located at the crossroads of I-83 and Rte. 30. David L. Bode, CCIM, SIOR , managing partner of ROCK Commercial Real Es- tate, represented CDE Ven- tures, LLC. ROCK brokerage advisors Jason Turnbull, CCIM and Nate Resh repre- sented the seller, BMB Hold- ings, LLC, owner of HOEM, Inc, Precision Metal Fabrica- tors, and Bowlder Metal. BMB Holdings, LLC then performed a 1031 Exchange to purchase 800 Hanover Rd., York, PA for $3,300,000. The 80,728 s/f, manufacturing fa- cility fronts busy Rt. 116 and is located one mile from Rte. 30. Resh, represented BMB Holdings, LLC in the pur- chase of 800 Hanover Rd. rock brokerage advisors Jason Turnbull, CCIM and Kevin Hodge, CCIM represented the seller, Wayneco, Inc. “We are excited to announce the acquisition of our new
Leo Van Buskirk, Lee & Associates
Lee & Associates as a broker and haven’t looked back. I decided to pursue real estate brokerage largely because of the dynamic nature of the position. Brokerage really allows me to pursue different types of business, making every day unique. What unique qualities and or personality do you feel makes you most successful in your profession? continued from page 22 continued from page 22 producer throughout Mid- West region. What unique qualities and or personality do you feel makes you most continued from page 22 College. Before joining Lee & Associates of Eastern Pennsyl- vania as an industrial broker, I spent a year in the residen- tial sector. I chose real estate because I enjoy the competi- tion, discipline, teamwork, and time management skills that
1760 Toronita St.
Ross Langford, Lee & Associates
Selwyn Simpson, Lee & Associates
800 Hanover Rd.
location at 800 Hanover Rd., York, PA,” said Blaine Grove, president of HOEM, Inc. “This larger space marks a signifi - cant milestone for HOEM Inc., reinforcing our commitment to enhancing service delivery and
community engagement. It provides an environment that supports efficiency and col- laboration, enabling us to ex- pand our workforce and better serve our community across all business units.” MAREJ
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