14A — June 17 - July 21, 2022 — M id A tlantic Real Estate Journal
www.marej.com
M id A tlantic R eal E state J ournal
ALABASAS, CA — Marcus & Millichap announced the promo- C 1st VP will provide brokerage support to Mid-Atlantic div. Marcus & Millichap announces the promotion of Brian Hosey
Industry vet. brings +35 years of experience Unity Bank names Donovan chief lending officer
and commercial relationship manager with Meridian Bank. Donovan earned a Master of Business Administration from St. Joseph’s University and a Bachelor’s in Accounting from Shippensburg University of Pennsylvania. “I am thrilled and honored to join Unity Bank’s team,” said Donovan. “I look forward to leading the bank’s lending team in partnership with management to provide out- standing commercial banking services to small businesses and companies of all sizes. We will build on Unity’s strong history of success in business banking and continue to drive growth and sustainability for our investors, employees, customers and communities.” Donovan and his wife Mary- Ellen live in Newton Square, Pa. and they have six adult children. He has been very active in the local commu- nity serving as a Schuylkill Chamber of Commerce Board Past President; Eagle Foun - dation Board Member; Big Brothers Big Sisters of Har- risburg Board Member; Junior Achievement of South Central PA Treasurer; and United Way of Schuylkill County Board Member. MAREJ
CLINTON, NJ — Bank- ing industry veteran Jim Donovan has joined Unity
the development and support of our investment sales and financing professionals, which translates directly into an outstanding level of service for clients and growth opportuni- ties for our offices throughout the region.” Hosey began his career with Marcus & Millichap an associate in the firm’s Manhattan office in 2010. He was promoted to sales man- ager in Manhattan in 2013. In 2014 he became regional manager of the New Jersey office before relocating to the Beltway to lead Marcus & Mil- lichap’s Washington, D.C. of- fice. Hosey graduated magna cum laude from Syracuse Uni- versity with dual degrees in business and communications. consumer businesses and brick-and-mortar stores of the past, the days of seismic shifts have given way to grad- ual pivoting when it comes to strategy and philosophy of local, regional and national operators. It is the former – when retailers had to rapidly adjust their sails at a time there was so much unknown about the virus and its lasting impact – that has established the groundwork for current practices and future trends. Here-and-Now & Future Larger retailers are now eye- ing shopping centers to deliver smaller-format concepts to their customers; buy-online, pick-up in store or at the curb- side has settled into a regular practice particularly among supermarket anchors and food service providers; and a desire among consumers exists for an omnichannel experience – the ability to meet and transact across multiple channels and platforms, including within a brick-and-mortar store. Re- gardless of size or goods/ser- vices being delivered, retailers recognize and acknowledge the power of local, immediate- area connectivity and how it fosters customer loyalty. Validating these behaviors is data that supports the en- during importance of brick and mortars. According to a survey conducted by the National Retail Federation (2021), 61% of consumers continue to rely on physical stores for their everyday shopping purchases. Concepts include Brick-and-Mortars
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commer- cial real estate investment sales, financing, research and advisory services with offices throughout the Unit - ed States and Canada. As of December 31, 2021, the company had 1,994 invest- ment sales and financing professionals in 82 offices who provide investment brokerage and financing ser - vices to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of $84.4 billion. MAREJ Another poll, conducted by the University of Arizona, indicat- ed respondents feel traditional retailers are part of the social fabric of their community. Future projections also add to this optimism: 72% of US retail sales will still occur in brick-and-mortar stores in 2024 (Forrester, 2022). In short, consumers retain the desire to engage in a store- based shopping experience and the act of making pur- chases – both of which bode well for experiential regional shopping centers as well. Here, the key to distinguish- ing themselves from online retailers is to provide unique on-site experiences in or near one’s home and workplace. For this reason, brick-and-mortar stores continue to provide value to retailers because they strengthen a customer’s rela- tionship to the brand. In closing, while commer- cial real estate’s retail sec- tor continues to enjoy its ro- bust recovery, retailers of all shapes and sizes will remain persistent in redefining their concepts and what they offer consumers. Shopping is no longer an action. Rather, it is a multi-tiered experience. From online to offline, today’s hybrid retail journey ultimately leads to the store down the road or the one that is just steps from places of work. It is the one that is most convenient and is sure to remain the most preferred shopping destina- tion for the foreseeable future. Jason Pierson is president of Pierson Commercial. MAREJ
Bank as chief lending officer (CLO), b r i n g i n g more than 35 years of financial ser - vices indus- try leader- ship experi-
tion of Brian Hosey to Mid-Atlan- tic division manager . Hosey, a first vice president, most recent- ly served as district manager.
Jim Donovan
ence to the community bank. “Jim Donovan is an ac- complished leader with a commitment to banking ex- cellence and we are pleased to have him join our manage- ment team,” said Unity Bank President & CEO James A. Hughes. “He has an impres- sive background guiding and developing teams and achieving measurable goals, which will be valuable as our small business lending pro- gram continues to grow. We look forward to Jim’s future success with Unity.” Donovan previously served as a senior vice president with Bryn Mawr Trust and a Group Vice President with M&T Bank. He started his banking career as a Credit Analyst with Corestates Bank and also served as vice president
Brian Hosey
“Brian excels at every level in our business and will pro- vide an exceptional level of bro- kerage support to our entire Mid-Atlantic division,” said J.D. Parker, executive vice president and COO- Eastern division. “He is a strong leader with a clear commitment to Central New Jersey Metro, where the firm finalized lease agreements totaling 44,805 SF in recent weeks at the newly repositioned regional shopping center. Pierson also orchestrated a wave of lease agreements at The Shops at Pier Village in Long Branch with Starbucks, the acclaimed national Japanese steakhouse Koto Asian Bistro and aXd by Alba in addition to several other tenants. From Mercer County and the Jersey Shore Region to New Brunswick and the City of Newark where the firm counts the 100,000 SF retail portion of Junction at the Gateway Center among its exclusive leasing agent assignments, Pierson is on the frontlines representing some the state’s leading developers, owners and ten- ants with a local, regional and national presence. At the Junction at Gateway Center itself, Pierson’s most recent lease signings include eight grab-and-go and full- service restaurants in addi- tion to Mokbar, a Korean food concept founded by renowned chef Esther Choi; One Step Ahead Learning & Perform- ing Arts Center; and Serafina, the well-known hotspot out of Manhattan. The firm also has substantially expanded its submarket expertise within Hudson County, with a focus on securing assignments in Jersey City and Hoboken. While there is no doubt the pandemic has transformed
The resiliency of retail proves to be . . . continued from page 2A
Irgang Group appoints Rarey ops. manager-retail properties
inspectors on store build-outs and common area construc- tion projects; overseeing fire inspections to keep the prop- erties in compliance; general safety coordination; cost coor- dination; and handling tenant or visitor complaints. A licensed contractor in the state of New Jersey, Rarey comes to Irgang Group with over 30 years’ experience in all phases of construction. “Since 2010, Gene had been the ‘go-to-guy’ for the former owners of Union Lake Cross- ing, getting involved with ev- erything from store build-outs to property maintenance and general trouble-shooting,” said Irgang Group CEO Mark Irgang. “We got to know Gene well during our due-diligence process on the property and were so impressed that we asked him to stay on when we completed the acquisition in November. When we added Poplin Place to our portfolio in March, we asked Gene to handle that property as well, and subsequently named him to this new position.” MAREJ
NYACK, NY — Irgang Group , the Nyack--based real estate investment and
management firm, has ap - pointed con- struction in- dustry vet- eran Gene Rarey as operations manager - retail properties.
Gene Rarey
In this newly created po- sition, Rarey, a resident of Bridgeton, NJ, will over- see day-to-day operations of Union Lake Crossing, a 393,000 s/f power center in Millville, NJ, as well as Pop- lin Place, a 196,462 s/f power center in Monroe, NC (metro Charlotte). Irgang Group acquired the properties in the fourth quarter of 2021 and the first quarter of 2022, respectively. His responsibilities for the two centers include hiring and overseeing all maintenance and common area construc- tion contractors; coordinating with engineers, architects and
Made with FlippingBook Ebook Creator