22A —May 2023 — M id A tlantic Real Estate Journal
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M id A tlantic R eal E state J ournal
ARCO Construction will serve as general contractor Rockefeller Group to develop New Jersey distribution center P
Welcome to The Professor’s Comedy Corner. This is the fifth in a series of humorous stories and jokes written by Professor Ron Shaw exclusively for the Mid-Atlantic Real Estate Journal . The Professor’s Comedy Corner
My family had orchestra tickets to see “The Lion King” on Broadway in NYC. We arrived early to claim our seats ahead of the crowd.
and lenders involved in the housing market. “The conference has long of- fered a wealth of meaningful insights into private lending trends and offers invaluable guidance from experts on how to prosper in these challenging times,” Hornik said. “When you explore these changes along- side people with shared inter- ests and goals, you naturally learn and work together, and every single person walks away with the connections they need to get business done.” The NPLA Conference doesn’t stop at great program- ming. Each day is packed with networking opportunities and unforgettable after-parties ensuring that the conversa- tions and connections continue beyond the conference walls. Events include a cocktail recep- tion to end the evening of June 20 and NPLA member mixer and official after-party on June 21. An opening poker tourna- ment on June 19 features an appearance from Molly Bloom, the nationally recognized op- erator of the world’s largest private poker games and au- thor of the best-selling memoir Molly’s Game. Proceeds from the charitable tournament will go to St. Jude’s Children’s Research Hospital. “Every NPLA Conference builds private lending industry ISCATAWAY, NJ — Rockefeller Group has begun construction on a 147,000 s/f distribution center in Piscataway, at 10 Constitution Ave. Rockefeller Group acquired the 18-acre site in Feb. 2023. A 100,000 s/f office building formerly owned and occupied by WS Audiology/ Sivantos Group is currently be- ing demolished to accommodate the new industrial building. “We learned from the suc- cess of the 2.1 million s/f lo- gistics center we developed in the township in 2018 that Piscataway is a great place to do business,” said Heath Abramsohn , VP and regional director for Rockefeller Group. “We are excited for our second industrial development project in the township, which has be- come one of the top locations for logistics and distribution hubs.”
To our surprise, a disheveled man lay sprawled across our four seats. He was bruised and looked in pain. We summoned an usher to assist us. The usher bent down and said to the man, “Sorry sir, but you will have to leave this area.” The man groaned, but didn’t move. The usher tried again. “Sir, if you don’t get up, I’m going to have to call the manager.” Again, the man just groaned. The usher walked up the aisle to the back of the theater and got the manager. Moments later, the usher and manager approached the man. Together, they tried to move him but had no success. They decided to call the police. A cop arrived, surveyed the situation, poked the man with his nightstick and said, “Alright buddy, what’s your name?” “Sam,” the man moaned. “Where ya from, Sam,” asked the cop. With pain in his voice, Sam replied, “The balcony.” Professor Ron Shaw is a former corporate banker and university professor. He writes and performs comedy at corporate and university events such as conferences and seminars, training sessions, trade shows and industry programs, corporate retreats and outings, sales meetings and team building workshops. You can contact the Professor via email at: rms1023@ aol.com MAREJ
Constitution Logistics Center Rendering
The team at Atlantic Real Estate Services represented Rockefeller Group in the origi- nal purchase of the property. Cushman & Wakefield’s Jules Nissim along with the KBC Advisors team of Jason
Goldman, Marc Petrella, Andrew Siemsen and Mi- chael Kimmel , serve as the agents for the development. Rockefeller Group has selected ARCO Construction as gen- eral contractor. MAREJ
continued from page 2A The NPLA Conference, the largest private lending conference in the US, Comes to Atlantic City . . .
relationships through enter- tainment, and that remains a priority for Atlantic City’s con- ference as well,” Hornik said. “There will be plenty of chances for attendees to informally con- nect while discussing business throughout the conference.” Hornik and Private Lender Law acquired the National Private Lenders Association (NPLA) last year, and shortly after, rebranded the Pitbull Conference as the NPLA Con- ference . The rebranded confer- ence reflects the vital role that the association now plays in the thrice-annual conference. When discussing the impor- tance of the NPLA Confer- ence in the private lending world, Hornik cites his own attendance over more than a decade, an investment which built the foundation on many meaningful and profitable re - lationships for him. “As an attendee, speaker, and exhibitor, I built strong and meaningful business relation- ships through the NPLA Con- ference , and it played a key role in growing Private Lending Law into the largest full-service law firm in the U.S. private lending industry,” Hornik said. “The conference has always brought people together to do business, and under our vision, it will continue to do so in new and exciting ways for anyone who attends.”
The 58th NPLA Conference will take place June 19-21, 2023, at the Hard Rock Hotel and Casino in Atlantic City, New Jersey. To register, visit www.NPLAConference.com. About Private Lender Law Private Lender Law pro- vides comprehensive real es- tate legal services nationwide for private lenders. With a presence in all 50 states, the firm has extensive expertise and experience in 24-hour loan closings, foreclosure/ workout advice, licensing and regulatory review, topical legal research and analysis, nationwide title review, mas- ter loan purchase agreements, private placements, co-lender and participation agreements, as well as other legal services. For information, visit www. privatelenderlaw.com About the National Private Lenders Association (NPLA) The mission of the NPLA is to support, protect, and grow the Private Lending Industry. The NPLA serves as a platform where members collaborate, share ideas, and stay informed. We advise and educate the public, as well as both state and federal policymakers, on the vital role Private Lending plays in real estate markets throughout the United States. MAREJ
continued from page FC-A Gebroe-Hammer reports 17 deals . . .
adjustment period which normally occurs after uptick cycles, as has been the case since the beginning of time. For the past 10 years, the cost of capital was half of what it is today. This trend, plus an abundance of dry powder parked during the COVID shutdown that was re- deployed in record amounts, contributed to the latest cycle, amongst other economic fac- tors,” said Uranowitz. “What is certain, having done this for almost 50 years, is that these cycles are never per- manent. How long this par- ticular period lasts, no one can predict. The one thing I DO know is that apartments have remained the one real estate asset class that is the least affected by downturns in the economy. Having closed 17 deals in the first quarter af - firms this phenomenon.” MAREJ
second-largest submarket of Bergen County, Gebroe-Ham- mer VP Joseph Gehler and sales representative David Betesh arranged the $19.8M sale of the 80-unit Grand Lee Apartments. Bergen County and its post-World War-II- era garden-apartment stock has long been a multifamily powerhouse, albeit a sub- market where for-sale assets have been and continues to be traditionally limited. “In general, developers are still building and delivering new product throughout New Jersey. Rent growth is normal- izing and people are choosing to or are forced to rent longer due to the rapid rise in inter- est rates and an undersupply of affordable single-family homes,” said executive manag- ing director Joseph Brecher. “We are going through an
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