12B — April 2024 — New Jersey/Pennsylvania — M id A tlantic Real Estate Journal
www.marej.com
N ew J ersey /P ennsylvania
ORWOOD/NORTH- VALE, NJ — A lead- ing manufacturer of Footwear manufacturer expands in North Jersey Resource Realty completes 135,874+ s/f in leasing activity N
Kyle Gerace & Robert V. DiLeo promoted to AVP NAI DiLeo-Bram & Co. announces promotions
to come.” DiLeo, who also graduated from Rutgers University,
WOODBRIDGE, NJ — NAI DiLeo-Bram & Co. (NAIDB) has announced
is a fourth- generation commercial real estate brokerage profession- al who has been with NAIDB for five years. He assists
the promo- tion of Kyle Gerace and Robert V. DiLeo to the position of associate vice presi- dent. These app o i n t - ments mark
orthotic footwear has been ex- panding its footprint in North Jersey with 135,874 s/f in combined leasing activity ar- ranged by Resource Realty of Northern New Jersey (Re- source Realty). The company is also taking possession of an ad- ditional 52,000 s/f of warehouse space in the area this month. In a series of tenant-repre- sentation assignments, Re- source Realty’s vice president Dan Whitehead completed three separate long-term lease agreements of 71,870 s/f at 335 Chestnut St. and 52,108 s/f at 10 Maple St., both in Norwood, with an additional 11,896 s/f at 240 Pegasus Ave. in Northvale. The latter is owned by Maxum Realty Trust and serves as the headquarters for OrthoFeet, Inc., the tenant. Ownership of the two Norwood properties is Alfred Sanzari Enterprises. “These lease agreements
Kyle Gerace
Robert V. DiLeo
tenants and property own- ers in every facet of leasing and sales acquisition and disposition transactions. Recent transaction high- lights include exclusively representing the seller and identifying the buyer in the $8.2M sale of a single- story warehouse building and finalizing the leasing of 17,500 s/f and 10,000 s/f at two newly constructed industrial buildings, both in Piscataway. He also was part of the tenant representation team for two long-term of- fice-lease agreements involv- ing a NYC-based medical provider tenant at Forrestal Professional Center II in the Plainsboro section of Princ- eton and at 310 Madison Avenue in Morristown. “Our firm’s size and years of experience in select mar- kets gives NAIDB the unique ability to pivot as needed and support the needs of our cli- ents in any given cycle,” said DiLeo. “Our brokerage team members are collaborative, and through internal coop- eration and communication, there is an open path for career growth and success.” Selective in its criteria, NAIDB is continually seeking new talent, from seasoned bro- kerage professionals to recent college graduates and promis- ing individuals with a strong desire to learn the business from the ground up. An impor- tant component of NAIDB’s early-training program is the pairing of newcomers with experienced mentors. Based in Woodbridge, N.J., NAIDB is a member of NAI Global, a leading global com- mercial real estate advisor with 325+ offices and 5,800 professionals. Leveraging the powerful support of the NAI platform, NAIDB offers a full suite of commercial real estate services backed by the personalized service and knowledge of a local firm with the resources of a global company. MAREJ
a merited acknowledgement of Gerace and DiLeo’s con- tributions toward NAIDB’s geographic expansion and increased transaction activ- ity throughout North and Central New Jersey. “This promotion is well deserved and a reflection of Kyle and Roberts’ excep- tional achievements over the past several years. They possess the skillset, determi- nation and personalities to flourish in this business and their professional growth has been impressive,” said David Simon , NAIDB chief operating officer. A natural competitor with tremendous persistence, Gerace – a former pitcher who was a member of the Rutgers University baseball team – is a highly motivated self-starter, which has and continues to give him an edge in his commercial real estate career. Consequently, Gerace’s name has become linked to some of the region’s mostnoteworthy transac- tions. Recent highlights include two separate in- dustrial property sales in East Brunswick and Pisca- taway totaling a combined $15.45M and 77,000 s/f; two industrial leases totaling over 70,000 s/f in Middlesex and Monmouth counties; and the sale of an office property in Union County. “In this business it is very important to find a way to provide value, whether it is internally within your team or with clients, and I strive to do this each day,” said Gerace, who was re- cently recognized as one of the firm’s top producers last year. “Working in an environment like the one at NAIDB, where experi- enced professionals provide constant support and guid- ance, is critical to my career trajectory. I look forward to building upon these early successes for many years
240 Pegasus Ave.
speak to OrthoFeet’s commit- ment to remaining in place in the Norwood-Northvale area and expanding their presence within this upper-most north- eastern quadrant of Bergen County,” said Whitehead, who has been with Resource Realty since 2009 and specializes in tenant and landlord represen- tation assignments throughout New Jersey. “Since a majority of the company’s employee base resides throughout Bergen County and Southern Rockland County, it was a priority for
OrthoFeet to retain its presence and grow in the market where the company first got its start.” Founded in 2000 by two brothers, OrthoFeet provides a patented product line of contouring orthotic-molded footwear that merges enhanced fit and comfort with attractive styling. Based on foot biome- chanics and modern designs, the company’s shoe construc- tion and orthotic insoles help improve mobility and relief from heel, foot, knee and lower back pain. MAREJ
engineering, manufacturing, service, repair, and installation. Robert Olender , who handled the transaction, ad- BENSALEM, PA — Roddy Inc ., the Bensalem industrial and commercial real estate brokerage firm, announced that it represented DGT in the leasing of a 28,580 s/f section of their 91,238 s/f building located at 550 State Rd. to Air- line Hydraulics Corporation. Airline Hydraulics Corpora- tion is a value-added distributor of fluid power, automation and machine safeguarding products providing quality components and custom-engineered technol- ogy solutions, offering system Roddy Inc. leases 28,580 s/f at 550 State Road vised the lease was made to accommodate expansion of Airline Hydraulics’ produc- tion capabilities. MAREJ 550 State Road continued from page 5B Warren-based PS&S acquires two firms in Southern NJ
“We are delighted to now be evolving our firm to the next level of growth with PS&S, who we have long felt would be a perfect part- ner,” said Steven Becica , principal. “As a result of this combination, our team will now have virtually all the ar- chitectural and engineering solutions needed for public buildings of all kinds – under one roof. It’s a plus for us, our clients and the larger community of developers in New Jersey.” In the government sector, among Becica’s notable proj- ects is the seven-story 180,000 s/f Mitchell H. Cohen Federal Courthouse in Camden. “As we look out to the fu-
ture of our firm and the State of New Jersey, we see im- portant opportunities -- and indeed necessary steps to be taken – in addressing the problem of aging infrastruc- ture,” said John Middleton , principal. “The built envi- ronment stock in the public sector is getting older and, to- gether with PS&S, our focus will be on repairing, replac- ing and maintaining public buildings for the future.” Sartor concluded, “The acquisition of Becica is a step forward in our plan to broaden our services and presence in South Jersey, and we heartily welcome Steve, John and their team to the PS&S family.” MAREJ
“Becica Associates is known as the ‘go to’ firm for public buildings—whether that is K-12 schools and higher ed—or government projects at the state and even Federal level,” said Sartor. “Having this team join is significant for PS&S as we look to build our pres- ence in both education and South Jersey where Becica is particularly well known and highly regarded.” In the education sector, Becica has worked with more than 50 different Boards of Education in New Jersey. Proj- ects include K-12 and higher education, as well as Abbott Districts and early childhood.
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