Mid Atlantic Real Estate Journal — New Jersey — August 16 - 29, 2013 — B


C entral N ew J ersey

ceanport, NJ — Colliers Interna- tional has arranged Byron Real Estate’s Krok represented the landlord Colliers Int’l.’s Cunningham arranges 89,000 s/f lease O

Hodgkins, Mircovich & Rosenthal rep tenant Bussel Realty Corporation facilitates 12,000 s/f lease

ten facilities. The organization employs 18,200 staff members, 4,600 physicians, and 445 resi- dents and interns throughout New Jersey. “Barnabas Health has fur- thered its commitment to the area by maintaining its long- term presence in Oceanport,” said John Cunningham , an executive managing director in Colliers International’s New Jersey office, who represented the tenant in the transaction. Cunningham, who is also the organization’s National Direc- tor of the Life Sciences Practice and a member of the Health-

care Services Group, noted that the renewal also points to the continued strength in New Jersey’s healthcare sector. John Krok , with Byron Real Estate , represented the landlord, G.B. Ltd. Operating Co., Inc., in the transaction. The Barnabas Health net- work hosts New Jersey’s only certified burn treatment facility and has the most experienced heart transplant program in New Jersey, ranked by volume, making it one of the top ten in the nation. It also has the only lung transplant program in the state. n

an 89,000 s/f renewal for B a r n a b a s Health’s ad- m i n i s t r a - tive offices a t 2 Cr e s - cent Place in Oceanport. Barnabas

70 Ethel Rd.

Piscataway, NJ — Bus- sel Realty Corp. (BRC) an- nounced Colonial Electric Sup- ply has leased 12,000 s/f at 70 Ethel Rd. in Piscataway, a 62,000 s/f class A industrial warehouse. Vice presidents James Hodgkins, Antho- ny Mircovich and Andrew Rosenthal represented Co- lonial Electric in the transac-

tion. “We are proud to have repre- sented Colonial Electric as it ex- pands its locations in New Jer- sey”, said Mircovich. “70 Ethel Road provides great access to its customer base in Central New Jersey and will enhance their operations which extend from Brooklyn, New York through to Pennsylvania”. n

John Cunningham

Health is the largest health- care network and second larg- est private employer in New Jersey, providing treatment and services for more than two million patients annually at PropertyCondition Assessment . . . tions, and drawings. We look forward to the implementation phase. We have recently inaugu- rated a new facet to our Prop- erty Condition Assessments. We were retained to provide a video of a 137,000 s/f build- ing to document its existing condition. The client is one of the largest office supply dis- tributors in the country and wanted a video of the leased facility that they were vacat- ing. We recorded three hours of filmwhich was edited to one hour and provided titles and narration. Previously we have provided exit reports for landlords that wanted to document the dam- age that occurred to their leased space. These reports follow the general guidelines of a Property Condition As- sessment which is based on guidelines byASTME2018-08 and include photographs and estimates of repairs according to the lease contract. It appears very few land- lords document the condition of a newly leased facility prior to the tenant’s occupation. It is very important to have this record especially if major damage occurs to the facil- ity upon lease termination. A professionally filmed video is an economic and advanta- geous tactic for possible future legal proceedings. We employ a graduate cinematographer and use a Mini DV Digital Camcorder. GaryFleming is president at the G William Group, Commercial Building Con- sultants in Edison NJ. n continued from page 7B

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