Portfolio located in Center City Philadelphia NAI Mertz arranges $28 million sale of historic nine-building multifamily

ISSUE HIGHLIGHTS Volume 31, Issue 8 April 26 - May 9, 2019

HILADELPHIA, PA — NAI Mertz an- nounced the sale of an historic nine-building multi- family portfolio in Center City Philadelphia. The NAI Mertz team of John Adderly , ex- ecutive VP-managing director, Fred Meyer, SIOR , executive VP-director of Brokerage & Corporate Services, and Roy Kardon, SIOR , VP, represent- ed the ownership, The Stolker Family, in this complex real estate transaction. The sale price was $28 million. Consisting of 100 apartment units, one commercial unit, and four dedicated parking spaces, these properties are located at 1329 Lombard St.; 415-417 S. 10th St.; 1634-36-38 Lombard St.; and 1825, 1912 and 2011 Spruce St. The prime locations of these buildings around and within the Rittenhouse Square, Washington Square West and Avenue of the Arts submarkets, as well as their stunning and atheistically pleasing features, brought more than 75 property tours and received more than 20 offers on the portfolio. “We are honored to have P

some for the entire portfolio of properties and some for portions of the portfolio— from investors throughout the country,” he added. “This was an extremely excit- ing assignment, and it was an honor to represent the Stolker’s in exclusively marketing these properties that have been a part of the family since the 1960s,” Kardon added. In the early 1960s, Leonard Stolker, a highly regarded real estate broker in Philadel- phia, began assembling this portfolio by purchasing small apartment buildings through- out the city. He purchased the American Baptist Publication Society building, an historical landmark built in 1895 at Ju- niper and Lombard Sts., and renovated it into the amazingly beautiful building it is today situated at 1329-39 Lombard St. Throughout the 1990s, Stolker continued to purchase historic brownstones and build- ings with character as defined by their architectural distinc- tions to complete the portfolio that was offered as part of this investment sale.  75 Ethel Rd. in Edison for $12.2 million. The 101,454 s/f building features a 22-foot clear height and is strategi- cally located along I-287 near Exit 10 of the New Jersey Tpke. Lou and Scott Belfer of CBRE were involved in the transaction. Liberty also purchased 115 Moonachie Ave., a “last-mile” property, in the Meadowlands for $39.6 million. The 168,800 s/f multi-tenant building is 100% leased and features 28- foot clear height. It is immedi- ately adjacent to three buildings Liberty previously acquired in two separate transactions in the Meadowlands. Liberty was represented by Tom Mona- han, Stephen D’Amato, and Larry Schiffenhaus along with Brian Fiumara of CBRE National Partners in the transaction. 



Section C


1329 Lombard St.

represented the ownership in the process of selling these gen- erational assets. The interest in the portfolio was strong, which is a testament to the ownership, the properties, and the strength of the overall Philadelphia mar- ket. We received strong interest from buyers across the country for this portfolio,” said Adderly. The NAI Mertz team worked closely with the ownership throughout the sales process. They provided services in- cluding creating marketing materials, underwriting of the

portfolio, active involvement in solicitating bids; analyzing of- fer and counteroffers; contract negotiation; due diligence; and closing and post-closing matters. “The Stolker Family port- folio was exposed to thou- sands of investors nationwide through our company data- base, as well as our in-depth, comprehensive online and print marketing campaigns,” Meyer said. “We received over one hundred signed confidentiality agreements—

Dino Iuliano, Planned Companies


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Liberty Property Trust acquires two industrial buildings in NJ for a combined investment of $51.8 million

MT. LAUREL, NJ — Lib- erty Property Trust pur- chased two industrial buildings last month in New Jersey for a combined investment of $51.8 million.

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75 Ethel Rd.

“Given strong industrial mar- ket fundamentals in the region, we have strategically added seven well-located properties to our portfolio over the last year and a half,” said Michael Cohen , senior vice president of investments for Liberty. “These acquisitions deepen our pres- ence in the high-growth New

Jersey Turnpike corridor and we look forward to evaluating additional investment oppor- tunities through the balance of 2019.” Acquisitions expand New Jersey footprint Liberty added to its Central New Jersey portfolio with the sale leaseback acquisition of

Inside Cover A — March 29 - April 11, 201- — M id A tlantic

Real Estate Journal


Real Estate Journal — April 26 - May 9, 2019 — 1A


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Wendy’s Erie, PA $2,129,060

BB&T Bank Fredericksburg, VA $5,290,000

Advance Auto Parts Vidalia, GA $725,200

Family Dollar Rupert, WV $1,315,000

Dollar General Millville, PA $541,935

Rite Aid and The Learning Experience New Haven, CT $14,718,455

Walgreens St. Augustine, FL $7,000,000

Checkers Lakeland, FL $880,000

Dollar Tree Retail Center Salem, NH $3,725,000

Closed $4,000,000,000 in Recent Transactions

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Real Estate Journal


M id A tlantic R eal E state J ournal Publisher, Conference Producer . .............Linda Christman AVP, Conference Producer ...........................Lea Christman Publisher ........................................................Joe Christman Section Publisher ............................................. Steve Kelley Section Publisher ............................................... Kim Brunet Editor/Graphic Artist..... .................................Karen Vachon Office Manager ...............................................Kerrin Devine Contributing Columnist ...........Dino Iuliano, CRO, Planned Companies Mid Atlantic R eal E state J ournal ~ Published Semi-Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal 350 Lincoln St, Suite 1105, Hingham, MA 02043 USPS #22-358 | Vol. 31, Issue 8 Subscription rates: 1 year $99.00, 2 years $148.50, 3 years $247.50 & $4.00 single issue - plus postage REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Phone: 781-740-2900 | Fax: 781-740-2929 www.marejournal.com The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal

M id A tlantic Real Estate Journal

The Missing Piece.

Dino Iuliano

Planned Companies Offers Active Shooter Preparedness Education U nfortunately, with ac- tive shooter incidents becoming more and more common in the United States, it is crucial to prepare businesses, schools and other public organizations. Accord- ing to the Federal Bureau of Investigation, there were 250 active shooter incidents in the United States between 2000- 2017, with 29 of those events taking place solely in 2017. What is an active shooter? According to the Department of Homeland Security: "an Ac- tive Shooter is an individual actively engaged in killing or attempting to kill people in a confined and populated area; in most cases, active shooters use firearms(s) and there is no pattern or method to their selection of victims. Active shooter situations are unpre- dictable and evolve quickly." How you can prepare for the worst? When it comes to securing a building, you must be proac- tive rather than reactive. For instance, Planned Companies

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has been participating and hosting a series of educa- tional seminars to inform its network and customers of the necessary actions one must consider in an active shooter situation. Of late, Planned has been traveling the eastern seaboard fromNew York City, to Atlantic City, to Baltimore, and beyond...we are making it our mission to spread aware- ness and ensure our friends, neighbors and partners are prepared. Improve your building secu- rity to protect yourself, your business, your employees, and your clients: 1. Be prepared for an active shooter.

The number of dangerous situations or active shooter situations are increasing. The reality is that these situations are frightening and they’re occurring with growing fre- quency throughout the United States. It is imperative to have a plan for these scenarios and to think about the mul- titude of different outcomes one active shooter occurrence could produce. In this sort of situation, you and your ten- ants have three options 1) RUN 2) HIDE or 3) FIGHT. 2. Inform and educate. Developing a plan is only part of the procedure. Once in play, you must communicate continued on page 3A

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Real Estate Journal — April 26 - May 9, 2019 — 3A


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M id A tlantic R eal E state J ournal

HILADELPHIA, PA — CPC Mortgage Com- pany LLC , a subsid- Freddie Mac Optigo Small Balance Loan Product fills unique financing needs of 85-unit property CPC Mortgage Company delivers $5 million to refinance multifamily building in Philadelphia P

of small buildings are a signifi- cant part of our customer base, and they have unique capital needs that aren’t readily met by the market. The Small Bal- ance Loan product gives us a tool that makes sense for our borrowers and gives them the flexibility and terms they’re looking for.” “More than 90% of the 85 units financed at Lawndale Court are affordable to very low-income Philadelphians earning 50% of Area Median Income or less,” said Lamar Myer s, North- east production manager for Freddie Mac’s Small Balance Loan business. “This execution

assistance and deal execution. While offering products for a broad range of capital needs including flexible bridge loans, with strong ties to the parent company and its mission, CPC Mortgage Co. has unique insti- tutional expertise in affordable, stabilized housing and small buildings/small balance loans. In Fiscal Year 2018, the Agency team operated under the CPC umbrella, originating nearly $500 million over a portfolio of 154 loans in New York, New Jersey, Pennsylvania, and Massachusetts. As a Freddie Mac Optigo lend- er, CPC Mortgage Co. offers a

range of competitively priced, reliable mortgage products for the acquisition and refinance of multifamily properties. This includes Freddie Mac’s con- ventional financing with loans ranging from $5 million to $100 million with 5- to 10-year terms, and the SBL product which helps to close the gap in the market for flexible fi- nancing for small buildings by offering loans from $1 million to $7.5 million with flexible terms, prepayment options, competitive low rates, and a streamlined pricing, under- writing, closing, and funding process. 

is a great example of how our Optigo Small Balance Loans can support workforce and af- fordable housing. We’re proud to continue working with CPC Mortgage Company to revital- ize communities.” CPC Mortgage Company LLC offers a suite of Freddie Mac, Fannie Mae, and Federal Housing Administration (FHA) products for acquisition, refi- nance, rehabilitation and con- struction of multifamily prop- erties. The company’s team of experts have deep experience in all aspects of the Agency busi- ness to ensure that borrowers receive unmatched technical

iary of The Community Pr e s e r va - t i on Co r - p o r a t i o n (CPC) , an- nounced the closing of a $4.9 million Freddie Mac

Louis Tiberio

Optigo Small Balance Loan (SBL) to refinance the Lawn- dale Court Apartments, an 85-unit multifamily property at 6000 Tabor Ave. in Phila- delphia. “Smaller multifamily buildings are a crucial component of the housing stock in Philadelphia and communities throughout PA,” said Louis Tiberio , VP and mortgage officer at CPC Mortgage Company. “Owners Planned Cos. offers active shooter preparedness . . . that plan and make sure ev- eryone in your building knows his or her role. This includes having drills as well as train- ing sessions for how to handle various worst-case scenarios. 3. Establish a relationship with law enforcement. When dangerous situations happen, they happen fast which is why it is important to work with police ahead of time as you develop your plan for emergency preparedness. Reach out to local law enforce- ment and discuss how you can work together to improve the security of your property. 4. Consult with a security provider. At the end of the day, the lives of those that live, work or visit your building are your number one priority. Rely on the experts. Seek out security expert professionals to help you understand how you can best mitigate risks and ampli- fy the safety of your property. The right provider will assess the security of your building, identify steps you can take to make your property and its occupants safer, and plan for different circumstances. If you are interested in learning more about hosting an active shooter prepared- ness program, please reach out to Planned Companies. Dino Iuliano is CRO of Planned Companies.  continued from page 2A

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M id A tlantic R eal E state J ournal Rosen of Duke Realty rep. landlord in the long-term lease Lee & Associates' Schaible ink Bergen County leases & sales E LMWOOD PARK, NJ — Michael Schaible , senior vice president

Prime Property for Lease in Bristol, PA

of commer- cial broker- age firm Lee & A s s o c i - ates NJ, has c o mp l e t e d the sale of a 72,000 s/f industrial of- fice building


5 Ethel Blvd.

• 32,120 square foot warehouse • 20’ clear height, 800 amp electric • 8 loading docks, and 2 (ea) 12’ x 14’ drive-in doors • Direct immediate access to I-95, 2 miles away from the PA Turnpike and a short drive to I-295

for Barings by Sitex. Schaible represented the tenant, Cubi- tac Corp, a growing wholesale importer and distributor of flat packed cabinetry that was looking to expand their distri- bution capabilities beyond the 100,000 s/f facility Schaible had arranged for them in 2016. In Wood-Ridge, Schaible inked a 125,000 s/f pre-lease at 5 Ethel Blvd., a state-of-the art industrial distribution prop- erty, representing specialty food distributor GraceKen- nedy Foods, the first tenant to commit to the new warehouse property. GraceKennedy will be consolidating operations from other Meadowlands loca- tions into the new building. Ben Rosen of Duke Realty represented the landlord in the long-term lease which rep- resents two-thirds of the new warehouse space. “In choosing 5 Ethel, GraceKennedy will be operating in one of the newest and most functional distribu- tion facilities in the entire Meadowlands market, offering extraordinary accessibility to Manhattan and the rest of the NY Metro area” said Rosen. The warehouse features 36-ft. ceilings, wide column spacing, 13 dock doors and ample car and trailer parking. Marketing of this transaction was man- aged by Chris Hile and Brian Golden of JLL on behalf of Duke Realty. Lee & Associates NJ an- nounced it negotiated the sale of a 72,000 s/f industrial/flex building at 100 W. Forest Ave., Englewood, for $16 mil- lion. Schaible represented the buyer, Sitex Group . Located in the heart of the Englewood South commercial market and less than two miles from the GW Bridge, 100 West. “We continue to see substan- tial demand across industrial property types as a wide va- riety of companies search for quality opportunities within the New Jersey marketplace, particularly in the Meadow- lands and well located towns that offer close proximity to New York City and its ports along with a deep labor pool” said Schaible. 

new, state-of-the-art distribu- tion facility, part of a two build- ing industrial development, located at 4 Bell Dr., Ridgefield. Cushman & Wakefield repre- sented the owner Metro Point LLC/Baring, a subsidiary of Mass Mutual. The transaction was developed as a forward sale

Michael Schaible

in Englewood and negotiated two industrial lease transac- tions totaling 236,000 s/f in Wood-Ridge and Ridgefield. Schaible negotiated a 7-year, 111,000 s/f lease at a brand

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S hopping C enters

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AYNE&MANALA- PAN, NJ — Mar- cus & Millichap Cafiero, Sgambati and Hyldahl procure buyer for $11.75 million retail sale Marcus & Millichap completes sale of BP Lubricants USA Inc. HQ & Tennent 9 Shopping Center W

has announced two sales. BP Lubricants USA Inc. head- quarters, located in Wayne, sold for $19.2 million onMarch 15; and Tennent 9 Shopping Center, located at 700 Ten- nent Rd. in Manalapan, sold for $11.75 million. The BP Lubricants USA deal was brokered by Alan Cafiero and Ben Sgambati of Marcus & Millichap’s New Jersey office, who represented the seller, a private investor, and the buyer, who was also a private investor, utilized this transaction to fulfill a 1031 exchange. Brent Hyldahl , also of Marcus & Millichap’s New Jersey office, joined the duo in procuring the buyer for the Tennent 9 Shopping Cen- ter. Both parties are private investors. MONTCLAIR, NJ — The Hampshire Companies , to- gether with their joint venture partner, Pinnacle Compa- nies , have received approvals to proceed with their redevelop- ment plan for Montclair’s Lack- awanna Plaza. The 216,772 s/f mixed-use redevelopment plan will revitalize the once vibrant complex through the strategic development of a range of mod- ern retail, office and residential spaces while preserving histor- ical elements of the century-old station. Construction is slated to start later this year. Originally constructed in 1913, Lackawanna Plaza be- gan its life as an important stop on the Delaware, Lacka- wanna, and Western Railroad until the station’s closure in 1981. Following its use as a transit hub, the buildings comprising the Plaza housed a Pathmark and several other retail tenants up until their vacancies, including that of Pathmark, in 2015. Since that time, Montclair has been left without a centrally-located grocery store and the Plaza has

Alan Cafiero

Ben Sgambati

Brent Hyldahl

BP Lubricants USA Inc. headquarters boasts 100,000 s/f. The building sits on 10.52 acres of land and fully uti- lized by BP’s premium brand, Castrol Oil, as its corporate headquarters. At this location, BP Lubricants employs lab technicians, engineers, ana- lysts, upper management and corporate services as well as the Castrol Oil top sales team. The property is on Valley Rd. Tennent 9 Shopping Center is anchored by NetCost Super- makets. NetCost Supermar- kets occupies two-thirds of the

60,000 s/f retail neighborhood. The remaining ten units are rented to a mix of local and regional business, along with a Rite-Aid pharmacy. The property is located just off Rte. 9, with easy access to Rtes. 18 and 33. Marcus & Millichap an- nounced the sale of a 12,770 s/f retail property located in Denville for $1.8 million. Michael Lombardi , invest- ment specialists in Marcus & Millichap's New Jersey office, along with Scott Plasky , in- vestment specialists inMarcus

BP Lubricants USA Inc. headquarters

Tennent 9 Shopping Center

&Millichap's New York office, had the listing to market the property on behalf of the seller, a private investor. Lombardi secured and represented the

buyer, a private investor. The retail building is lo- cated at 424 West Main St. The building is 100 percent occupied. 

The Hampshire Companies and Pinnacle receive approval on re-development plan for Montclair’s Lackawanna Plaza

building’s façade, integrating train platform canopies into the roof of Lidl, restoring the iconic horse trough, preserv- ing the historic waiting room and concourse, and creating a memory board and plaque at the entrance of the Plaza to highlight the history of the site. “It is rare for a developer to be given a chance to breathe a second life into a site that holds such a special place in a town’s history. We would like to thank Mayor Jackson and Montclair’s municipal leader- ship for their collaboration and consultation in helping us craft a plan that will truly respond to the needs of the surrounding community,” said Robert Schmitt , principal at The Hampshire Companies. “We look forward to executing our redevelopment plan for Lackawanna Plaza to bring valuable community ameni- ties and rateables to Montclair while preserving the aspects of the site that have made it so important to Montclair for over a century.” 

Lackawanna Plaza Rendering by Marchetto Higgins Stieve Architects

sat mostly vacant. Hampshire and Pinnacle’s redevelopment plan seeks to reactivate the once-vibrant Plaza through the creation of much-desired retail, residen- tial and office spaces while preserving the unique his- tory of the existing buildings. The site will be anchored by a brand-new, 28,509 s/f, Lidl

grocery store on Bloomfield Ave. By bringing Lidl to Mont- clair, Hampshire and Pinnacle will return a grocery store to Montclair, filling the vacancy left by Pathmark in 2015. In addition to Lidl, the plan calls for 35,714 s/f of retail space and 21,032 s/f of office space. A 153-unit mixed-use residential building is also planned for

the east side of the site along Grove St. Reflecting the deep history of the Plaza, significant steps have been taken to preserve or replicate a significant portion of the station’s original 1913 Grecian Doric style. These steps include salvaging 21 ex- isting steel columns from the train platform for usage on the

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S hopping C enters

Khan, Rohrbaugh and Stine rep. buyer and seller Bennett Williams facilitates 82,033 s/f s/f retail building

ORK, PA — Bennett Williams Commercial has arranged the sale/ lease of the following transac- tions: 82,033 s/f retail building at 1094 Haines Rd., Springetts- bury Twp. KE Haines, LLC purchased the property from Seritage SRC Finance, LLC. Abe Khan, Brad Rohrbaugh and Chad Stine of Bennett Williams Commercial repre- sented both the buyer and the seller in the transaction. 10,833 s/f retail space at 255 Northland Center, Fer- guson Twp. CSL Plasma, Inc. leased the space from SUSO 4 Y

Abe Khan

Brad Rohrbaugh

Chad Stine

Estate, LLC purchased the property from KEW Realty Group, LLC. Khan, Rohrbaugh and Stine represented both the buyer and the seller in the transaction. 1,528 s/f retail space at Rock- vale Outlets, 35 S. Willowdale Dr., East Lampeter Twp. Clear- water Construction leased the space from Rockvale Vehicles, LLC. Kathryn Dwyer of Ben- nett Williams Commercial represented the tenant in the transaction. 1,766 s/f retail space at Shiloh Village, 2323 Carlisle Rd, West Manchester Twp. Self Defense Academy, LLC leased the space from Helen Shick et al. John Trone of Bennett Williams Commercial represented both the tenant and the landlord in the transaction. 1,930 s/f retail space at Ken- horst Plaza, 1895 New Hol- land Rd., Kenhorst Borough. Uniquely Local, LLC leased the space from 1895 New Holland Road, LLC. Blake Shaffer, Mark Jacobs , Rohrbaugh, and Stine of Bennett Williams Commercial represented the landlord in the transaction. 3,780 s/f retail space at Ken- horst Plaza, 1895 New Hol- land Rd., Kenhorst Borough. Windfall Amusements 001, LLC leased the space from 1895 New Holland Road, LLC. Shaffer and Chris Seitz of Bennett Williams Commercial represented the tenant and Jacobs, Rohrbaugh, and Stine represented the landlord. 4,000 s/f retail space at Ha- nover Crossings, 499 Eisenhow- er Dr., Hanover Borough. Na- tional Vision, Inc. dba America Best Contacts and Eyeglasses leased the space from Ridge North Shopping Center Asso- ciates, LP. Dwyer, Rohrbaugh and Stine represented the landlord. 2,000 s/f retail space at Eph- rata Commons, 385 N. Read- ing Rd., Ephrata Borough. Sprint leased the space from Ephrata Commons 2016, LLC. Shaffer, Rohrbaugh and Stine represented the landlord in the transaction. 

Northland, LP. Adam Hager- man , Rohrbaugh, and Stine of Bennett Williams Commercial represented the landlord in the transaction. 7,073 s/f retail building at 2801 N. George St., Manches- ter Twp. North George Real


The Annual

ICSC RECon 2019 Las Vegas

May 19-22, 2019

A Shopping Centers Spotlight

Deadline: may 2nd Publication Date: may 10th All are welcome to submit articles on New Developments Market Study Reports Recent Leases & Sales Transactions For Details & Special Rates Contact: Kim Brunet kbrunet@marejournal.com 781.740.2900

Real Estate Journal — Shopping Centers — April 26 - May 9, 2019 — 7A


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S hopping C enters Sittler Golf grows to bigger Berks location

Zerfass of Colliers International brokers sale of the 14 acre Kutztown, PA property


Other accolades have included Golf Range Magazine's "Top 50 Golf Range" and PGA’s “Mer- chandiser of the Year.” The tots they totted around, Ricky, Ryan and Kasey, are now young adults working within the business themselves. The next chapter for Rick, Patty and family is shifting to a new Berks County site in Sinking Springs, PA opened in March of 2019. “We were breaking out of the seams” said Patty. “Sittler Golf Sinking Springs is three times bigger and adds 10 acres of land.” The new location, just outside of

Reading, offers a denser popu- lation to support the business yet remains convenient to their original Kutztown community. “We are excited for this next chapter and the continued growth of our business at Sink- ing Springs.” Derek Zerfass of C olliers International’s Allentown office represented the duo in in the sale of the 14 acre Kutz- town property in early April to TimTay Allentown LLC. Future plans for the site will likely include retail redevelop- ment but no official plans have been set. 

UTZTOWN, PA — Sittler Golf Center is announcing that it will

be celebrat- ing its final season at its original Kutz- t o wn s i t e . Lo c a t ed a t 15475 Kutz- town Rd., Sit- tler Golf has been a main-

Derek Zerfass

stay of the Kutztown com- munity since the 1960’s and has grown over the past 26 years to become a nationally award-winning facility. One of America’s “Top 100 Golf Shops,” golfers from all over the world have visited Sittler Golf to gain an edge with their exceptional club fitting experience. It is that explosive growth that pre- cipitated the search for a new, larger location. Purchased in 1993 by Kutz- town natives Rick and Patty Kline as a driving range, mini- golf and ice cream shop it has been a distinct small business success story. The pair met as students at Kutztown Uni- versity and Rick subsequently began his golf career as an ap- prentice at Marriott Seaview Resort of Absecon, New Jersey. It was there that he chanced upon a fellow Kutztowner and exchanged business cards. Ten years and several promotions later, he received a follow-up call on that exchange - to see if he might have interest to purchase a golf driving range in his hometown. The two 29-year- olds with a young family were suddenly faced with the deci- sion to own their first business – and they took it. Early years saw them living between two states, each parent caring for one child. Rick coached the Kutztown golf team for over a decade. The two improved the busi- ness with the addition of a golf shop in 1996, six weeks after the birth of their daughter, and steadily built their reputation for outstanding club fitting. In 2011, Sittler Golf earned a top spot on Golf Digest’s inaugural “Best 100 Clubfitters” list – a rank they have maintained consecutively ever since. The distinction was a turning point for Sittler Golf - taking it from a community gem to a regional resource with thousands of golfers from throughout the Tri- State frequenting the center to experience the benefit of a cus- tom fit for their golf equipment.

Sittler Golf Sinking Springs

Since 1988


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Real Estate Journal


S hopping C enters Monmouth Junction and Paramus Shopping Center “wins” reflect targeted expansion Cushman & Wakefield appointed property manager for two New Jersey retail assets


ing Heritage Square, located at 4180 Route 1. Michael Nev- ins and BettyWalker secured the assignment for Heritage Square – home to PetSmart, Bob's Discount Furniture, Dunkin’ Donuts, Subway, Rita's Italian Ice and Chase Bank. Walker is heading the assignment, which marks the expansion of an existing cli- ent relationship; Cushman & Wakefield Asset Services also manages Wasa’s Sutton Plaza in Flanders. The Paramus Junction as- signment involves an 70,000 s/f, fully leased property (home to DSW, PetSmart and H- Mart) at 60 Route 17 North. Nevins, Walker, Asha Teelock and Noble Carpenter secured the Paramus Junction agency, with Walker heading the as- signment for owner Deka Immobilien GmbH. Cushman & Wakefield Asset Services manages more than 1.7 mil- lion s/f of additional space in Washington, D.C., Boston, San Francisco and Edwardsville, Ill., on behalf of the interna- tional real estate fund. “Heritage Square and Para- mus Junction enjoy class A lo- cations along established retail corridors,” Nevins said. “Both properties have attracted best- in-class national tenants that attract – and benefit from – healthy consumer traffic. We look forward to ensuring responsive operations and attractive environments for these retailers and shoppers alike. In today’s competitive environment, more institu- tional owners are turning to third-party providers like us to help uphold and enhance their properties’ positioning. We take pride in these two new agency wins.” Cushman&Wakefield’s East Rutherford-based New Jersey Asset Services team currently serves approximately 20.7 mil- lion s/f of space in the Garden State. The Asset Services plat- form provides comprehensive property management services throughout the asset life cycle. Focused on enhancing asset value, the firm’s professionals are empowered to minimize op- erating costs, improve efficien- cies, and enhance customer service in order to protect the value of each investment. Across the globe, Cushman & Wakefield manages all types of real estate on behalf of corpo- rate, institutional, and private clients. 


new property management assignments inMonmouth and Bergen counties reflect tar- geted retail-sector expansion for Cushman & Wakefield’s New Jersey Asset Services practice. The shopping cen- ters, Heritage Square in Mon- mouth Junction and Paramus Junction in Paramus, add ap- proximately 166,000 s/f to the team’s portfolio. Wasa Properties named Cushman &Wakefield to man- age the 80,504 s/f, three-build-

Paramus Junction in Paramus

RE_ad_version1.qxp 11/2/2005 11:54 AM Page 1

  Seeking Retail Opportunities Consistently Ranked #1 Franchise - 50+ Y ear T rack Record

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Non-Traditional Venues - Hospitals/Colleges Universities/B&I/Stadiums/Casinos/Airports

Eastern PA — Local Contacts: Philadelphia PA & Southern NJ —

610-366-8120 x 24, Cheryl Green green_c@sdepa.com 410-752-6760, Evan Brodie evan@sandhumanagement.com

realestate.subway.com www.subway.com


Real Estate Journal — April 26 - May 9, 2019 — 9A


M id A tlantic

10A — April 26 - May 9, 2019 — Shopping Centers — M id A tlantic

Real Estate Journal


S hopping C enters

Harbor View Marketplace | Bayonne, NJ


GLA/ Acreage Anchor Tenants

Property Name



Kmart, Burlington, Market Basket

Shops at Billerica

Billerica, MA Lowell, MA


Boston Rd. & Tower Farm Rd. Plain St. & Lowell Connector Medway St. & Beaver St. Route 70 & N. Locust Ave. Route 440 & Goldsborough Dr.

272,142 Target, Marshall’s, Best Fitness

Meadow Brook Center

Milford Crossing

158,759 Stop & Shop, HomeGoods, TJ Maxx

Milford, MA

Evesham, NJ Hanover, NJ Marlton, NJ Bayonne, NJ

Harbor View Marketplace


Costco Wholesale Club

127,024 Virtua Medical Group, Children of America

Shoppes at Renaissance Square

Cedar Village Sunbird Plaza

123,593 Lowe’s

Hanover Avenue


Royal Farms

State Hwy. 73 & Sunbird Dr.

Morris Marketplace

Morris Township, NJ

132,144 Future Development

Hanover Avenue

Vacant Land

Mount Olive, NJ Old Bridge, NJ Parsippany, NJ

19.9 AC Across from Walmart, Sam’s, TJ Maxx 9.33 AC Across from Walmart Supercenter 150,150 Whole Foods, Homesense, DSW, Ulta

Adjacent to Foreign Trade Zone Route 18 & Foxborough Dr. Route 46 & Waterview Blvd. Springfield Ave. at Roselyn Pl. Springfield Ave. near I-78 S. Delsea Dr. (Rte. 47) & College Dr. Black Horse Pike & Main St.

Foxborough Plaza

Waterview Marketplace

Vacant Land Vacant Land

0.199 AC Vacant Land 0.3239 AC Vacant Land

Union, NJ

Vauxhall (Union), NJ

Vineland Marketplace

Vineland, NJ


Future Development

Williamstown, NJ

94,452 CVS, Dollar General

Williamstown Shopping Center

ICSC RECon | Booth #S235R, South Hall | R Street & 23rd Ave.

Real Estate Journal — Shopping Centers — April 26 - May 9, 2019 — 11A


M id A tlantic

S hopping C enters


GLA/ Acreage


Property Name

Anchor Tenants


Route 13 & Bennie Rd.

26 AC Across from Walmart Supercenter

Vacant Land Grand Plaza

Cortland, NY Deer Park, NY

Commack Rd. & Grand Blvd. Saratoga Rd. & Glenridge Rd.

182,875 Kohl’s, Stop & Shop, Pet Supplies Plus

Lake Shore Plaza II & III Target Shopping Center

Glenville (Albany), NY 170,616 Target, Pet Supplies Plus

Lake Ronkonkoma, NY 170,451 Stop & Shop, Regal Cinemas, Dollar Tree Portion Rd. & Patchogue-Holbrook Rd.

Routes 17/6 & Route 32 Route 59 & Hutton Ave.

Harriman Commons

Monroe/Woodbury, NY 711,816 Walmart, Target, Home Depot, BJ’s

Home Depot Shopping Center

Nanuet, NY

276,792 Home Depot, Raymour & Flanigan, Staples

Orangeburg Commons

Route 303 & Palisades Pkwy. Montauk Hwy. & Station Rd.

Orangetown, NY Southampton, NY Stony Point, NY

143,219 Stop & Shop, Residence Inn

The Mill

29,314 SoulCycle

Stony Ridge Plaza

Route 9W & Park Rd. 660 White Plains Rd.

21,212 US Post Office

660 White Plains Road

Tarrytown, NY

279,254 Adjacent to Super Stop & Shop

Home Depot Shopping Center Home Depot Shopping Center

Lehigh St. & Route 78

Allentown, PA

134,271 Home Depot

Hanover St. (Rte. 34) & I-81

Carlisle, PA

140,715 Home Depot, Chili’s

Five Points Plaza

Montgomeryville, PA 133,124 BJ’s Wholesale Club, Lowe’s Cowpath/HorshamRd. @Rte. 309

Richland Marketplace

Rte. 309 & Pumping Station Rd. Hamilton Blvd. & Grange Rd.

Quakertown, PA Trexlertown, PA

444,531 Target, BJ’s, Best Buy, Petsmart, Staples

Macungie Crossing Shopping Ctr.

±36,671 Near Walmart Supercenter

Thomas G. Mirandi | tel 212.265.6600 x239 | tmirandi@rdmanagement.com


12A — April 26 - May 9, 2019 — Shopping Centers — M id A tlantic

Real Estate Journal


S hopping C enters The Space Place Your Guide to Available Retail Space

Name of Center & Location Pohatcong Plaza 1250 US Highway 22 Phillipsburg, NJ 08865

Available Sq. Footage

Company Contact Information

Anchor Stores


National Realty & Development Corp.

Walmart Supercenter, Stop & Shop, Regal

Ulta, Old Navy, PetValu, Verizon Wireless, WaWa

4,000-30,496 SF Plus Pad Site

Cinemas, Hobby Lobby, Marshalls, HomeGoods

Harrison Lyss 914.272.8043 harrison.lyss@nrdc.com

National Realty & Development Corp.

Northampton Crossings 3768 Easton Nazareth Highway Easton, PA 18045

Walmart Supercenter, Sam's Club, Regal Cinemas, Kohl's, Hobby Lobby

Staples, Panera Bread, Petsmart

8,987 SF Plus Pad Site

Harrison Lyss 914.272.8043 harrison.lyss@nrdc.com

National Realty & Development Corp.

Marketplace at Cinnaminson 2501 Route 130 South Cinnaminson, NJ 0877

Walmart Supercenter, Sam's Club


2,500-25,650 SF

Nick Hrvatin 914.272.8037 nick.hrvatin@nrdc.com

National Realty & Development Corp.

Washington Plaza 5901 Route 42 Turnersville, NJ 08012

Burlington, LA Fitness


2,782-11,210 SF

Nick Hrvatin 914.272.8037 nick.hrvatin@nrdc.com

National Realty & Development Corp.

CooperTowne Center 711 Evesham Avenue Somerdale, NJ 08083

3,274-13,498 SF Plus Pad Site

Walmart Supercenter, Cinemark Theatres, LA Fitness

Applebee's, PetValu, Dollar Tree, Pizza Hut

Nick Hrvatin 914.272.8037 nick.hrvatin@nrdc.com

National Realty & Development Corp.

Fruitland Center 404 North Fruitland Blvd. Salisbury, MD 21801

12,100 SF Plus Pad Site

Big Lots, CitiTrends

Kool Smiles, Apple Discount Drug

Nick Hrvatin 914.272.8037 nick.hrvatin@nrdc.com

National Realty & Development Corp.

Waynesboro Plaza 2715 West Main Street Waynesboro, VA 22980

1,905 & 4,000 SF Plus Pad Sites

Big Lots, Harbor Freight Tools

Dollar Tree

Nick Hrvatin 914.272.8037 nick.hrvatin@nrdc.com

Kim Brunet Retail Publisher Space Place Listings 781.740.2900 kbrunet@marejournal.com

Real Estate Journal — April 26 - May 9, 2019 — 13A


M id A tlantic

B usiness C ard S ervice D irectory

M id A tlantic

CRE I nvestment & M anagement

D elaware S tatutory T rust S pecialists

E nvironmental C onsulting & E ngineering

Real Estate Journal — October 26 - November 8, 2018 — 15A


M id A tlAntic

B usiness C ard s erviCe d ireCtory

M id A tlAntic

CRE I nvEstmEnt & m anagEmEnt M ultifamily

m Etal B uIldIng F inance

l andsCapE a RChItECtuRE M etal B uilding

a RChItECts

a ttoRnEy


R EtaIl

CRE d EBt a dvIsoRy

CRE a dvIsoRy

Want your business card included on this page?

A uctioneer

PROPERTY MANAGEMENT We manage each property as if the investment was our own; in the end, your business becomes our business. Contact us today to find out how we can....

Linda Christman (781) 740–2900 lchristman@marejournal.com

√ √ √ Reduce operating costs

Improve tenant relations and retention

Handle all immediate requests 24/7

14A — April 26 - May 9, 2019 — M id A tlantic

Real Estate Journal



May 30-NJBankers Event: Commercial Real Estate Conference Location: The Sheraton Edison Raritan Center, Edison, NJ E: Diane Starr P: 908-272-8500 E: dstarr@njbankers.com May 30-IREM Maryland Event: Happy Hour/Paintball Showdown with Chapter 92 Location: Paintball Sportsland, Inc. Address: 10418 Old Liberty Rd Frederick, MD Time: 3:00PM - 6:00PM C: Lori Crook Web: www.irem16.org May 23- MAREJ Event: 4th Annual PA Healthcare & Medical Properties Conference Location: Courtyard by Marriott Philadelphia City Avenue C: Lea E: lea@marejournal.com P: 781.74.2900 Web: www.marej.com/conf May 31-ABC New Jersey Event: ABC NJ Summer Blast- Luke Bryan Concert Location: BB&T Pavilion, Camden, NJ Time: 5:00PM to 11:00PM E: events@abcnjc.org C: Lynn Bradley P: 609-439-2211 May 31-MAREJ Event: 4th Annual NJ Opportunity Zones Conference Location: APA Hotel Woodbridge June 5-SIOR New Jersey Event: Sponsor Appreciation Event @ TopGolf Location: TopGolf NJ Address: 1013 US Route 1, Edison, NJ Web: www.siornj.com June 5-SHA Event: Member Meeting Location: Mary Roebling Building Address: 20 W State St., Trenton, NJ Web: shanj.org C: Linda E: lchristman@marejournal.com P: 781.740.2900 Web: www.marej.com/conf

April 29-CSI Philadelphia Event: 7th Annual CHAD Lighting Competition Location: Penn Lighting Associates

May 10-IREM Event: 14th Annual Charity Gala Location: Congressional County Club, Bethsda. MD

May 1-3-SMPS Event: Northeast Regional Conference Location: Providence Marriott Downtown Address: One Orms St., Providence, RI Cost: $625-Members, $725-Non- Members Web: www.smpsnerc.org May 1-Corenet NJ Event: Speed Mentoring Breakfast: An Event for Young Leaders Location: BroadAcres Office Park Bloomfield, NJ Time: 8:00AM-10:00PM Web: newjersey.corenetglobal.org Address: 417 N 8th St, Philadelphia, PA Cost: $10-Member, $20-Non-Member Web: www.csiphilly.com May 2-SIOR New Jersey Event: Prologis Speaker Series Lunch Location: Il Villaggio Address: 651 Rt 17 N, Carlstadt, NJ Time: 11:30AM - 1:30PM Cost: Free-Member, $95-Non-Member Web: www.siornj.com May 5-ABC Baltimore Event: Port to Fort 6K Run/Walk Location: Coke Field Address: Locust Point, Baltimore, MD Time: 8:30AM-11:30AM Cost: $15-$40 Web: believeintomorrow.org May 9-PLTA Event: Old Republic Title Spring Agent Seminar Location: Crown Plaza Valley Forge Address: 260 Mall Blvd., King of Prussia, PA Time: 8:30AM-12:15PM or 1:00PM-4:15PM E: kkostusiak@plta.org P: 610-265-5980 Web: www.plta.org

Time: 6:30PM-11:30PM Web: www. iremgala.org

May 13-18-CCIM Event: Realtors 2019 Legislative Meetings & Trade Expo Location: Multiple Locations across Washington, DC Cost: Free-Member, $125-Non-Member Web: www.legislative.realtor May 15-IFMA PA Event: "ALL THAT TALKING, EMAILING, AND TEXTING DOESN'T MEAN YOU ARE A GREAT COMMUNICATOR! Location: Hershey Company Address: 100 Crystal Dr., Hershey, PA Time: 11:30AM-1:30PM Web: http://ifmacentralpa.org Location: Atlantic City Convention Center Address: One Convention Blvd., Atlantic City, NJ P: 732-992-0600 Web: njaa.com May 22-SIOR Philadelphia Event: Office Property Summit Location: The Union Golf Club at Torresdale Address: 3801 Grant Ave., Philadelphia, PA Time: 8:00AM-6:00PM Cost: $45- $125 Web: www.eventbrite.com May 22-USGBC NJ May 21-NJAA Event: NJAA Conference & Expo

Event: 2019 Awards Gala Location: Hyatt Regency Address: New Brunswick, NJ Time: 5:30PM-9:30PM Web: usgbcnj.org

May 22 Event: 2019 Greater Philadelphia Building Engineering & Facility Maintenance Show Location: Greater Philadelphia Expo Center Time: 9:00AM-2:00PM Web: www.expotracshows.com

Please send your events to: editor@marejournal.com

Real Estate Journal — April 26 - May 9, 2019 — 15A


M id A tlantic

R eal E state J ournal

M id A tlantic

C lassifieds • C lassifieds • C lassifieds • C lassifieds • C lassifieds • C lassifieds • C lassifieds • C lassifieds • C lassifieds BILLBOARD

RE_ad_version1.qxp 11/2/2005 11:54 AM Page 1


  Seeking Retail Opportunities Consistently Ranked #1 Franchise - 50+ Y ear T rack Record


Looking for sites in PA & S. NJ End Cap, In-line, Free Standing Flexible Space Requirements


For Lease

Non-Traditional Venues - Hospitals/Colleges Universities/B&I/Stadiums/Casinos/Airports


Eastern PA — Local Contacts: Philadelphia PA & Southern NJ —

610-366-8120 x 24, Cheryl Green green_c@sdepa.com 410-752-6760, Evan Brodie evan@sandhumanagement.com

realestate.subway.com www.subway.com



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DOUBLE BLOCK: (5” x 3 5/8”)

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Once = $160 Twice = $280 5 Issues = $575 5 Issues (Pre-Pay) = $475

OTHER RATES AVAILABLE! Please call Linda Christman for more information at 781-740-2900

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