Real Estate Journal — Shopping Centers — August 29 - September 11, 2014 — 31C
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M id A tlantic
S hopping C enters
Landlord Landmark Real Estate represented in-house Winick Realty Group leases two Jersey Mike’s locations
International Property Awards for 2014-15 DDGwins award for GrandMetropolitanmall
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ERGEN COUNTY, NJ — Jersey Mike’s, a leader in the QSR sand-
wich category w i t h mo r e than 1 , 300 l o c a t i o n s open and un- der develop- ment across the country, signed leases for two loca-
Gary Krauss
Grand Metropolitan mall
MILLSBORO, DE — Gil- lis Gilkerson announced the groundbreaking of the ninth branch of First Shore Federal Bank in Millsboro, Delaware. “We welcome the returning business from First Shore Federal,” said Dwight Miller , president, Gillis Gilkerson. “We have a great working relationship with the bank and look forward to expanding The popular sandwich shop leased 1,736 s/f at 557 North Franklin Turnpike in Ramsey, NJ. The site, which formerly housed a TCBY, is expected to open by early September. “We managed to find an off-market deal in the best shopping center in the marketplace, allowing Jersey Mike’s to join such co- tenants as Starbucks, Chase Bank and Walgreens,” said Krauss, who added that the shopping center sees a lot of traffic from Don Bosco Prepa- Buildable . A sketch plan presents layout options that advance a developer’s intent. It is typically dictated by the current market and an ex- pected return on investment. A buildable sketch plan must account for existing natural features; potential site chal- lenges listed above and meet all federal, state and local reg- ulations to ensure approval. Economical. Along with a buildable sketch comes an ac- curate budget. As a developer or broker, you’re determining lease rates and securing ten- ants up front. Re-working a tions in Bergen County. Win- ick Realty Group NJ ’s Gary Krauss acted as the brand’s broker in both transactions as Jersey Mike’s continues its aggressive expansion within its home state.
multi million-dollar invest- ment into the prime site. John Majczan, is now a tenant rep broker for Prime Sites but was the former director of real es- tate for A&P for 17 years. John said, “While I was at A&P, it was obvious who the best brokers were without conflicts, which were few, and those brokers made my job much easier due to their expertise in presentations and their ability to negotiate the economics. “My past experience being on the tenants side of real estate has prepared me well to provide exceptional tenant rep services which exceed my clients expectations.” n screens, lighting, and LCD ef- fects add energy and drama. “This award reinforcesDDG’s reputation within the industry for providing superior design services,” said DDG chairman, CEO, and president AhsinRa- sheed . DDG competed against a number of high-profile proj- ects for the award. All competition entrants are rigorously assessed by a judg- ing panel consisting of over 70 highly respected experts from all over the world, chaired by three active members of the House of Lords: Lord Caith- ness, Lord Best, and Lord Courtown. Stuart Shield , president of the International Property Awards, said, “The quality of entries across all categories in the Asia-Pacific regional stage was exceptionally high this year, so our winners fully deserve the right to display the prestigious Awards ribbon. We are delighted to honor such high standards of innovation and professionalism.” DDG is recognized as an in- dustry leader, witha reputation for producing quality, innova- tive, and visionary design for more than four decades. n
The process of uncover- ing sites by John Majczan of Prime Sites Realty Once the trade area is defined, zoning maps are reviewed and all potential sites that include vacant land, retrofits and teardowns are driven. Viable sites are then selected and the owners are contacted for availability and pricing. Once all the informa- tion is obtained a sophisticated market/site presentation is given to the tenant with a site tour. If the process is handled by a top broker the tenant is well prepared to make the Themall itself, which is built alongside theKalimalangRiver waterfront adjacent to a major national highway connector to Jakarta, features striking exterior visuals and distinctive curvilinear forms, accented by extensive mirrored paneling which provides a dramatic, contemporary flair. Rippling, ribboned design elementswrap around the four-level mall, pro- viding a spectrum of changing colors, while banners, video BEKASI, INDONESIA — U.S.-based design, planning, architecture, interiors, and graphics firm DDG is among the winners in the Asia-Pacific region of the prestigious Inter- national Property Awards for 2014-15. DDG was recognized for its work on the 646,000 s/f Grand Metropolitan mall, located in Bekasi, east of Jakarta, Indo- nesia. DDGwas responsible for concept architecture – includ- ing defining the theme of the mall and handling schemat- ics – as well as collaboration with local architects, dealing with all permitting and codes, creation of the merchandising plan, and signage and graphics for the mall.
(l-r) Jerry Kallman, Area Director, Jersey Mike’s/ Gary Krauss, Broker, Winick Realty Group NJ/ Greg Gillmann, Owner/Operator
their footprint into Millsboro, Delaware.” The new bank will cover close to 5,000 s/f at 220 Wash- ington St. in Millsboro and include Energy Star /LED lighting fixtures. “Gillis Gilkerson is a first class operation and we look forward to working with their team again on the new Mills- boro branch,” said Marty Jersey Mike’s also secured a location in Northvale, NJ, leas- ing 1,750 s/f at 246 Livingston St. “Jersey Mike’s has been looking to move into Northern New Jersey for quite some time,” said Krauss. “Many Northern New Jersey residents also spend time at the Jersey Shore, so there is already built- in name recognition that Jersey Mike’s can tap into.” The store deal to cover underestimated soft and hard costs isn’t pos- sible. Therefore your planner and engineer should evaluate ordinances, identify the criti- cal issues listed above, deter- mine a realistic maximum yield, and work with the client to assign appropriate site and permitting contingencies for the project budget prior to proceeding. Practical. From a practical standpoint, you also want to look at how much of your ex- isting site can be incorporated into the sketch plan. Propose changes that utilize existing pavement and infrastructure. ratory High School, which is located across the street.
Neat , First Shore Federal, president and CEO. “The area is a growing and attractive community that lends itself to investment opportunities. We studied twenty different loca- tions across the Lower Eastern Shore andMillsboro, Delaware consistently ranked near the top for growth in population, banking services, real estate transfers and traffic count.” n A good engineer will attempt the goal of making the client’s prototype fit and maintain existing parking, utility and stormwater systems and traf- fic patterns to the extent pos- sible – not only reducing con- struction cost but sometimes reducing permitting as well. Fi nd your PEACE OF MIND! The next time you are looking at potential sites, be sure to remember the 5 things you can’t afford to miss during due diligence. Timothy J. Brennan, PE is a principal at Nave Newell and J. Michael Davis, RLA, PP is a project manager. n sits in a newly-constructed shopping center anchored by Shop Rite and since it opened in late June, this location is already one of the top perform- ing sites in the chain, according to Krauss. Gregg Slater of Equity As- sociates represented landlord Northvale Shopping Center Associates LLC in the North- vale lease. In Ramsey, landlord Landmark Real Estate was represented in-house. n
Gillis Gilkerson breaks ground on the 9th branch of First Shore Federal Savings & Loan
continued from page 12C Tenant Representation. . . John Majczan of Prime Sites Realty industry.
continued from page 13C 5 things you can’t afford to miss during due. . .
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