June 2023


The Eastampton, NJ project features a 4,000 s/f speculative office Blue Rock partners with Rockefeller, Glendale for 345,000 s/f warehouse

ASTAMPTON, NJ — Blue Rock Construc- tion has partnered with NYC-based developer Rock- efeller Group on a second project, a 345,000 s/f specula- tive warehouse in Eastampton. The project featured a 4,000 s/f speculative office, plus new turning lanes to Rte. 206 to access the building. The site also includes a new wet pond, retaining wall, site fencing, and sound wall. “The Rockefeller Group NJ/ PA office and I would like to express our sincere gratitude and appreciation to the Blue Rock organization for a job well done at our Eastampton development,” said Joshua Kuskin , director, design & con- struction, NJ/PA Development. “From beginning to end, your firm performed at a high level, demonstrating your ability to E

had a completion date of Jan. 23, 2023, but in mid-December, Rockefeller requested that a TCO be achieved before the end of the year. Despite not getting permanent power until Dec. 19, the Blue Rock team got the TCO on Dec. 30. “I’d like to specifically point out the efforts made in pur- suit of the project’s TCO,” said Kuskin. “Tasked with a tight deadline and pushing up against the year-end Holidays, Blue Rock hit another gear and was able to persevere, allowing our tenant to occupy the build- ing and Rockefeller to close on the development.” Eastampton marked Blue Rock’s second project for Rock - efeller Group. The first was a 1 million s/f warehouse in Allen Twp., PA, that also included a fit-out for GEODIS. MAREJ



Section 19-23A


9th Annual NJ Industrial Real Estate Development Conference Thursday, July 13, at the Sheraton Edison 9th Annual NJ Apartment & Multifamily Conference Thursday, September 21, at the Sheraton Edison 9th NJ Annual Capital Markets Conference Thursday, October 19, at the Sheraton Edison For speaking & sponsorship info., please contact: Lea at 781-740-2900 or lea@marejournal.com

345,000 s/f speculative warehouse in Eastampton, NJ

overcome immense challenges with the supply chain and labor markets, all while maintaining

a great degree of courtesy and professionalism.” Originally, the warehouse

SJP Properties and DEVCO announce plans to develop Phase II of HELIX in New Brunswick, NJ

Rutgers Robert Wood Johnson Medical School, and a Rutgers translational research facil- ity equipped with a variety of labs to advance the work of 80 research teams and put into practice Rutgers Health innovations that will improve individual and public health. Core Partners for the New Jersey Innovation HUB include NJ Economic Development Authority, RWJBarnabas Health, Hackensack Me- ridian Health, Middlesex County, Rutgers University, Tel Aviv University and Atlantic Technological Uni- versity of Galway, Ireland. Rising two stories in height, H-1’s ground floor will feature amenities and kiosks that will be accessible to the public, in- cluding a 10,000 s/f market hall with food options and a 3,000 s/f restaurant that opens onto a 70-foot-wide plaza. H-3, the final phase of HE - LIX, is proposed as a 42-story mixed-use building to include additional office space and 220 units of housing. MAREJ

NEW BRUNSWICK, NJ — As growth in New Jersey’s life sciences sector accelerates demand for modern lab and in- novation space, SJP Proper- ties , in collaboration with New Brunswick Development Corporation (DEVCO) , has unveiled plans to develop H-2, the second phase of HELIX Health + Life Science Ex - change — the dynamic innova- tion district currently under

Directory ROP (Front Section)........................................... Section A Thriving Under 30................................................... 3-10A Owners, Developers & Managers.......................... 11-17A Financial Digest.....................................................19-23A CIRC Delaware...........................................................24A Retail Development Reimagined...........................25-27A People on the Move...................................................28A The Professor’s Comedy Corner..................................28A CRE Organization’s Events Calendar............................32A New Jersey..............................................................FC-8B Pennsylvania..........................................................9-BC-B www.marej.com

H-2, the second phase of HELIX Health + Life Science Exchange

medical education in the state of NJ’s history. SJP’s mixed- use building, H-2, will include 600,000 s/f of build-to-suit lab and office space that can ac - commodate a range of uses for large corporate life sciences and technology company tenants. Adjacent to Rutgers Uni - versity and opposite the city’s train station, H-1, the first phase of HELIX, is currently under construction and will comprise 574,000 s/f that in- cludes the New Jersey Innova - tion HUB, the new home of

development on a four-acre site in downtown New Brunswick. HDR has been appointed as the lead architect for H-2 and HELIX aims to bring to - gether the power of academia and public and private sector research under one roof and will provide businesses, uni- versities and researchers with the critical space to work, learn and experiment. With a total cost of $731 million, HELIX, which will be built in three phases, represents the largest investment in life sciences and

Inside Cover A — June 2023 — M id A tlantic Real Estate Journal


think growth Changing rules and regulations within a highly competitive market creates greater challenges to achieving your vision for growth. Withum’s Real Estate Services Team provides opportunities and long-term strategies to help weather the highs and lows of challenging times. From due diligence to digital transformation, from cost segregation studies to lease analysis and review services, we can help commercial, industrial and residential real estate companies be in a position of strength. Visit withum.com/thinkgrowth to learn more.

M id A tlantic Real Estate Journal — June 2023 — 1A









2A — June 2023 — M id A tlantic Real Estate Journal


M id A tlantic Real Estate Journal

M id A tlantic R eal E state J ournal Publisher, Conference Producer ..............Linda Christman AVP, Conference Producer ...........................Lea Christman Editor/Graphic Artist ......................................Karen Vachon Contributing Columnists ......................Tricia Baker, PACE Equity; Carlo L. Batts, MAI, Rittenhouse Appraisals; Nicholas Dooley, CMEA Withum; Michael Feltenberger, CMCA, AMS, PCAM, Barkan Management; Gary Harpst, LeadFirst; Sean Organ, Morgan Properties; Professor Ron Shaw Mid Atlantic R eal E state J ournal ~ Published Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal 117 HMS Halsted Dr., Hingham, MA 02043 USPS #22-358 | Vol. 35, Issue 6 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 www.marej.com

Gary Harpst

“I Want to Help… But Should I?” Five Ways Leaders Can Practice Responsible Generosity


OBOKEN, NJ — Most leaders have been there: We see

someone who needs help, and we quickly provide it, only to end up feeling taken advan- tage of. Maybe you helped an employee out of a financial jam, only to see them keep making bad decisions. Or you spent hours coaching a younger col- league and then watched him ignore your advice. Or you stepped in to “rescue” a team- mate who wasn’t prepared and later realized that she now counts on you to save the day. Especially in a time of so much need, almost everyone feels the pull of generosity. But at the same time, we can’t help but worry that our gen- erosity isn’t really helping the person in the long run—or worse, that it will have nega- tive consequences for us or the organization. “Not knowing how to bal- ance these impulses can cre-

ate inner turmoil,” says Gary Harpst, author of Built to Beat Chaos: Biblical Wisdom for Leading Yourself and Others (Wiley, April 2023, ISBN: 978- 1-3941584-0-9, $25.00). “We want to help other people, but are stuck wondering, Does this person even deserve my help? or Am I being taken advantage of? or even Is giving this person a fish keeping them from learning to fish themselves?” These are very human feel- ings and valid concerns, asserts Harpst. And they pose a real dilemma for would-be givers and helpers. We shouldn’t let these concerns harden our hearts to generosity. But on the other hand, constantly giving to people who are not maximizing

their own time and resources might just be an invitation for them to squander ours. “To navigate this, we need to embrace a mindset that I call ‘responsible generosity,’” says Harpst. “It requires us to examine our own motives and to really think about what the other person needs long-term. It is not a ‘get out of giving free’ card; in fact, it may require us to give more of ourselves, which is so much harder but also more meaningful than writing a check.” Here are a few tips on practic- ing responsible generosity: Take a hard look at WHY you’re giving. Are you a co- dependent giver? Do you help continued on page 28A

Firmly Rooted in the Law and in the Community We are well grounded in every facet of real estate law, from acquisition to construction. We are committed to serving the needs of our clients and our communities.

Contact: NEIL A. STEIN • nstein@kaplaw.com 910 Harvest Drive, Blue Bell, PA 19422-0765 • 610-941-2469 • kaplaw.com Other Offices: • Cherry Hill, NJ 856-675-1550 • Philadelphia, PA 215-567-3120 Kaplin Stewart Attorneys at Law

M id A tlantic Real Estate Journal — June 2023 — 3A Mid Atlantic R eal E state J ournal ’ s A nnual S potlight T hriving U nder 30



Robert V. DiLeo NAI DiLeo-Bram

Paulina Escobar CREATE Architecture, Planning & Design

Kyle Gerace NAI DiLeo-Bram

Tyler Huffman BG Capital

Dan Ringel Cushman & Wakefield

Ryan Schulok AKF Group

Torsten Thaler Cushman & Wakefield

David Wilson Prologis

Inside: Robert V. DiLeo, NAI DiLeo-Bram.........................................................................................................5A Kyle Gerace, NAI DiLeo-Bram...............................................................................................................5A Paulina Escobar, CREATE Architecture, Planning & Design............................................................8-9 Tyler Huffman, BG Capital ...................................................................................................................10A Dan Ringel, Cushman & Wakefield .......................................................................................................7A Ryan Schulok, AKF Group....................................................................................................................4A Torsten Thaler, Cushman & Wakefield .................................................................................................7A David Wilson, Prologis..........................................................................................................................6A

4A — June 2023 — Thriving Under 30 — M id A tlantic Real Estate Journal


T hriving U nder 30

Ryan Schulok, AKF Group "Harness confidence to conquer every situation, gain trust, and seal deals!"


I bring a holistic view to the firm and to my coworkers. I was an intern with AKF before I was hired full-time. I can connect with the new co-ops and interns that come in, able to teach them the engineering and people skills that I have learned, while also advancing my own communication skills. When it comes to communica- tion with contractors, I exude confidence that the result of a project is the best that it can be. If there are issues or concerns, controlling the tone of the conversation is a great skill I have. At the end of the

day, we are one large team that is satisfying our clients, so let’s work together and give them the best product. Who or what has been the strongest influence in your career? My strongest influence is my parents. Though they are not in the engineering field, their support while I was pursuing my degree allowed me to get my bachelor’s degree and mas- ter’s degree in architectural engineering within the same weekend. Back in 2012 when I entered Penn State Univer - sity, the economy was recover- ing from the 2008 recession and Architectural Engineering was not on the top list for a lot of people. My parents stood behind my decision and re- sulted in me graduating with a 4.0 in my master’s, walked right into AKF group already established from my previous internships with them, and was able to integrate into the atmosphere of the firm. My parents were able to give me the tools to be a confident engineer. Tell us how and when you began your career in the profession you are in, about your current posi- tion and why you choose the field/profession you are in today? The foundation of my career is from my childhood, building small toy homes out of Lincoln Logs. From that young age, I knew I wanted to do some- thing with buildings, either designing them or building them. During 9th-12th grade, I was able to start establish- ing myself in programs that were building-design driven. I was able to show off my cre- ative side while still making a functional product. I have always had a connection with a hospital environment from my mother being a nurse and hav- ing the utmost respect for the dedication they pour into their patients – now I offer my as- sistance every day by helping design mechanical HVAC sys- tems for hospitals, operating rooms, cath labs, emergency departments, etc. I chose to be an engineer because it is a job that can help any person but allows us to be behind the scenes. When you walk into a building and you are comfort- able, you do not think about it. That is our job, to provide continued on page 30A

hat is your most no- table project, deal or transaction?

Ryan Schulok Mechanical Engineer Years with company/firm: 6 Years in field: 6 Years in real estate industry: 6

My most notable project is a Pediatric Hospital’s new Physician and Administration Office Building. Utilizing ac - tive chilled beams, the office space for notable doctors was able to have higher ceilings while keeping their comfort in mind. This technology is used throughout Europe and is slowly integrating into the USA. With this project completed, it is one of the largest active chilled beam projects in Philadelphia with

well over 2,000 active chilled beams. This building also acts as a pathway for the cli- ent’s new central plant. We designed nine cooling towers to be placed on the roof of this building, carrying 20,000 tons

of cooling for the entire cam- pus. Without this building, the campus would not be able to expand as easily. How do you contribute to your company and / or the industry?


Congratulations to Ryan Schulok, 30 Under 30 Honoree!


Mid-Atlantic Region Baltimore, MD Hamilton, NJ Philadelphia, PA Richmond, VA Washington, D.C.


M id A tlantic Real Estate Journal — Thriving Under 30 — June 2023 — 5A


T hriving U nder 30

Kyle Gerace Associate NAI DiLeo-Bram & Co.

Robert V. DiLeo Associate NAI DiLeo-Bram & Co.

Years with company/firm: 3 Years in real estate industry: 4 CRE memberships/licenses: NAIOP-NJ; NJ Real Estate Salesperson

Years with company/firm: 4 Years in real estate industry: 4 CRE memberships/licenses: NAIOP-NJ; NJ Real Estate Salesperson

For many post-bachelor’s degree grads, launching a CRE brokerage career in 2020 at the height of a once-in-a-lifetime pandemic may have been considered extremely risky. For NAIDB’s Kyle Gerace, who is responsible for assisting own- ers and tenants involved in CRE sales and leasing transactions across Central New Jersey, it was a risk worth taking. “I attribute my early – and what I plan to be enduring – success in commercial real estate to my competitive nature and being a highly motivated self-starter – character traits that have always given me an edge as a student-athlete and now in my budding brokerage career,” said Gerace, a graduate of Rutgers University with a B.S. in sports management and a varsity pitcher with a distinguished record on the baseball team. “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 just that each day.” Within less than a year of joining the profession, Gerace was absorbing every facet of CRE by being paired with leading NAIDB mentors. Rather quickly, he earned a seat at the closing table of several noteworthy transactions. As a result of his intuitive ability to apply industry knowledge, refine his analytical skills and build client relationships, Gerace was a key contribu- tor toward NAIDB’s best overall year in 2021 with regard to all-time-high sales and leasing volume. And, because of his demonstrated ability to hit the ground running and cumulative contributions, NAIDB honored him with its in-house Rising Star Award that same year. In 2022 and for the first half of 2023, Gerace is keeping the momentum going with even greater traction that is fueling several important transactions. MAREJ

At NAIDB, where a sense of team and collaboration drive the firm’s culture, Robert V. DiLeo stands out for his collaboration as part of a team and individual creativity – both of which have been key drivers for his deal-making abilities. A graduate of Rutgers University with a B.A. in Planning & Policy, DiLeo represents a fourth generation within his family’s CRE business, which dates back to 1937. Using in-depth market knowledge derived from being entrenched within the firm’s submarkets of focus, DiLeo is on an upward trajectory in terms of sales and leasing volume across Central New Jersey. As an integral member of NAIDB’s brokerage team, DiLeo contributed toward the firm receiving the 2022 NAI Global President’s Award. The honor recognizes promotion of the brand, driving business, engaging with fellow professionals and providing leadership within NAI Global’s structure.

Because of his upbringing, the importance of relationships has been instilled in DiLeo since an early age.

“What makes NAIDB different is our collaborative approach to dependable real estate solutions, and I utilize my own knowledge and experience – as well as that of my fellow brokers – to complete transactions at the highest level,” said DiLeo. “What makes us a leader is our commitment to forging and strengthening client relationships based on shared mutual trust and respect.” MAREJ

Celebrating more than 85 years of offering DEPENDABLE REAL ESTATE SOLUTIONS

based on knowledge, experience and vision

For more information, please visit: naidb.com

6A — June 2023 — Thriving Under 30 — M id A tlantic Real Estate Journal


T hriving U nder 30 David Wilson, Prologis

“Approach work with eagerness to learn, humility, and a willingness to assist others”

ow do you contrib- ute to your com- pany and / or the industry? I am involved in transform- ing the Industrial Real Estate Industry, specifically with Prologis Essentials. Prologis is the global leader in logistics real estate, known for its in- novative solutions tailored to customers’ needs. My role as Essentials Solutions Manager, focuses on customer centric- ity and growing Prologis Es- sentials. Essentials provides product and service solutions for our customers’ operations, energy & sustainability, mo - bility, and workforce. Our platform delivers next gen- eration solutions to address our customers most critical challenges. We have meticu- lously chosen and evaluated a network of national and local partners who provide top- notch services and equipment for industrial operations. As the overseer, promoter, and closer of business for one of Prologis’s largest markets, NY/NJ, I am responsible for H

I deal with rejection daily and have often been the youngest among more experienced col- leagues throughout my career. However, I have learned to brush off setbacks, embrace critical feedback and keep moving forward. To get to where I am today, I’ve learned it’s important to set aside ego and make the next all. Ad- ditionally, accepting that you don’t have all the answers and being transparent about it is crucial. When faced with uncertainty, I make a commit- ment to find the answers and follow through on my word. What was the most defin - ing moment for you? A defining moment for me was recognizing when it was time to leave a job and venture into another industry. Al- though this decision may carry negative connotations for some of my generation, I believe that if approached thoughtfully, it can shape one’s career positive- ly. By giving your best for six years and continuing to do so even as you transition out, you continued on page 30A

LinkedIn. Using that platform to remain connected to past colleges, connect with new ones, and keep up to date on industry trends. What unique qualities and or personality do you feel makes you most suc- cessful in your profession? One of the qualities that has been integral to my career success is being an active lis- tener. Listening is the founda- tion of providing outstanding customer service and driving sales. Before offering a solu- tion, you must understand the landscape and the customers’ challenges. This is where this quality directly intersects with my work—Prologis Essentials offers various solutions for our customers, and my role involves actively listening to their pain points and provid- ing the best-fit solution. What challenges and or obstacles do you feel you needed to overcome to become as successful as you are today? To achieve success, one must be willing to fail and able to persevere.

David Wilson Essentials Solutions Manager Years with company/firm: 1 Years in field: 7 Years in real estate industry: 1 Real estate organizations / affiliations: SIOR, NJMHS, NAIOP

ensuring Essentials success in this region. Who or what has been the strongest influence in your career? I have been fortunate to have several role models in my life, ranging from supportive family members to exceptional managers. The one who had the greatest impact on me was my first manager after college, Agnes Smithey. I had the privilege of working with her at Pella Windows and Doors, where she was launching a sales training program. I ad- mired her passion for the work and learned from her ability to empower others to excel. I strive to emulate her values in my day-to-day and hope to

lead and create opportunities for others the way she does. What impact has social media / networking had on your career? Throughout my career, I have actively sought out op- portunities to get involved with industry groups and network. When I worked at Pella Windows, I engaged with local building societies such as NARI and NIBA. Now at Prologis, I participate in real estate and material handling societies, includ- ing SIOR, NJMHS, NAIOP. These groups provide valuable insights into the industry and allow me to meet exceptional individuals who foster benefi - cial connections. I am also on

Prologis Essentials is the easy button for your warehouse operations. We use our global footprint to help your team procure the best equipment and services .

CONTACT US FOR HELP WITH Automation Generators LED Material handling equipment Racking systems Smart building

Prologis Essentials David Wilson Essentials Solutions Manager dwilson2@prologis.com cell + 1 551 280 6977

www. PrologisEssentials .com

M id A tlantic Real Estate Journal — Thriving Under 30 — June 2023 — 7A


T hriving U nder 30

Dan Ringel Director Cushman & Wakefield Years with company/firm: 2.5 years Years in field: 2.5 years Years in real estate industry: 2.5 years

Torsten Thaler Senior Director Cushman & Wakefield Years with company/firm: 5 years Years in field: 5 years Years in real estate industry: 8 years

What is your most notable project, deal or transaction? I relocated a client from two buildings, totaling nearly 900,000 s/f, into a single building of 600,000 s/f. That single project, spanning 1.5 million s/f of transac - tions, included two sublease assignments and one relocation assignment – it was a rather complex transaction. Who or what has been the strongest influence in your career? My partner Ben Brenner. His mentorship & guidance has been monumental, and I couldn’t have achieved this recognition without his unwavering support from day one. What impact has social media / networking had on your career? Networking has played a major role in my career. At the end of the day, com - mercial real estate is a relationship business and building strong relationships with the right partners and clients will set up all parties for long term success. Tell us how and when you began your career in the profession you are in, about your current position and why you choose the field/profession you are in today?

Tell us how and when you began your career in the profession you are in, about your current position and why you choose the field/pro - fession you are in today? I always knew I wanted to work in real estate or construction. During my high school and college years, I had worked in a small but very successful family busi- ness in which we maintained residential, commercial and industrial properties. I started my professional career at Kushner Companies as an intern. During my internship, I served in multiple capacities that allowed me to see the busi- ness from several perspectives. Eventually, I realized that I wanted to work at a commercial real estate brokerage. Through successful networking, I landed an Associate position with Chuck Fern and his team at Cushman & Wakefield. I enjoy working in the field because it is a very competitive business and there is always an opportunity to become better at your craft. The business and the market is constantly evolving and changing, so no two days are ever the same. continued on page 30A

Like a lot of people in com- mercial real estate, I happened to fall into this industry. I had been working in tech sales previously and was tired of my personal success being restrict- ed. In commercial real estate, you can build your own book of business under the umbrella of a major firm that is loaded with resources like Cushman & Wakefield, and there is no limit to the amount of success you can have. I’ve always had an entrepre- neurial drive, and this business was my avenue to create my own path and build something from the ground up. It was a no brainer to make the move and join Cushman & Wakefield. What was the most defin - ing moment for you? The most defining moment was sourcing and closing a 600,000 s/f tenant rep as- signment within my first 15 months at Cushman & Wake - field. When that deal closed, I realized I had what it takes to compete for business in this hypercompetitive industry. What outside activities do you enjoy during you free time? I really enjoy golfing and fly fishing. Both allow me to un - plug for a few hours and reset. While both can be frustrating at times, their rewards surpass any frustrations. What inspiring word of advice would you give to a young executive graduating from college? I would tell them to stay patient. They’ll see some of their friends find their dream job instantly, and others will dislike their first job or two. It is important to learn as much as you can and stay on your own path and timeline. Do not be concerned with your peers – focus on your career. MAREJ


Cushman & Wakefield is proud to congratulate Torsten Thaler and Dan Ringel for being named to Mid Atlantic Real Estate Journal’s “30 under 30”

8A — June 2023 — Thriving Under 30 — M id A tlantic Real Estate Journal


T hriving U nder 30

ow do you con- tribute to your company and / or Paulina Escobar, CREATE Architecture, Planning & Design Young Architects: Unleashing unique perspectives in an evolving design industry H

these principles into our work. This has allowed me to chal- lenge established norms and find unconventional solutions, while actively searching for op- portunities to experiment with innovative design concepts and newer trends in urban plan- ning and architecture. Additionally, ever since working at CREATE in the architectural commercial sec- tor, I recognize the dramatic evolution happening in retail. Today, no longer just selling

products; retail has trans- formed itself into an experi- ence-led industry due to a new generation of consumers that prioritize the “shopping expe- rience” when visiting malls and retail spaces. I contribute to both my company and the industry by understanding this constantly shifting land- scape and how it is crucial when it comes to the future of retail architecture and design. Interpreting the new needs and preferences of the new generation of consumers enables me to provide design solutions tailored specifically towards meeting their ex- pectations. Successful retail architecture involves more than simply functional spaces; successful designs create expe- riences that evoke emotions, reflect brand identities, and fa - cilitate memorable encounters between people and brands. By bringing a fresh per- spective to the table that understands a younger de- mographic and by being part of a generation with great academic and professional focus on sustainability and community oriented design, I add value by pushing for innovative, experiential and sustainable architecture. I am excited for the future of architecture, retail and design and am lucky enough to be part of an organization that is at the forefront of reimaging them all. Who or what has been the strongest influence in your career? The strongest influence on my career has been the combination of my Latin American roots with my experiences and knowledge acquired while working in the United States. This fu - sion of cultures and perspec- tives has shaped the way I look at design. Growing up in a family with great sensibility and appreciation for architec- ture, design and culture had a tremendous influence on me. Music, literature and art were deeply valued in my home as integral parts of our everyday life which shaped the way I look at the world, and in turn, architecture. continued on next page

Paulina Escobar Architect Years with company/firm: 1.5 Years in field: 4

the industry? As a young architect, I believe I bring a unique per- spective and contributions to both my company and the in- dustry as a whole. Being part of a younger generation that has grown up with a rapidly shifting world has given me a different sensibility and approach to design that has to adapt to these constantly

evolving needs and desires. I believe that architecture should be community ori- ented and should respond to the context and environment where it is situated. In a time

where architecture has to be addressed with such a strong focus on sustainability, innova- tion and social responsibility, I bring a fresh point of view that strives to incorporate

M id A tlantic Real Estate Journal — Thriving Under 30 — June 2023 — 9A


T hriving U nder 30

Paulina Escobar, CREATE Architecture, Planning & Design

time working in New York City - have broadened and deepened my appreciation of architecture in a global context. Merging my Latin American heritage with exposure to diverse cultures and design philosophies has fostered a more inclusive and culturally sensitive approach in my work which is crucial in today’s world. What inspiring word of advice would you give to a young executive gradu- ating from college? Especially to young archi- tects graduating from col- lege, I would advise them to embrace their personal style and passion for architec- ture and try to find it every day in the world around you. Stay curious and open minded, search out opportu- nities for learning through internships, mentorships or continued education courses. Traveling, meeting new people from different backgrounds and embrac- ing diversity of approaches within the field allow you to explore new ideas that force you to collaborate and look at architecture in ways you hadn’t before. Take the time to improve and enhance your technical abilities and your understanding of the context in which you work. Conceptual design and ideas are important, but as archi- tects we are only as good as what we can actually “put on paper.” Keep in mind that architecture is a profession that demands both techni- cal expertise and creative spirit, so try to keep learn- ing as much as you can and use those tools to be able to pursue and vouch for your vision. Each project presents its own set of unique chal- lenges and opportunities, so we must learn to be adapt- able and come up with cre- ative solutions for each spe- cific challenge. Architecture is a profession that requires patience, perseverance and a willingness to evolve. Ultimately, my advice to young architects as a young architect myself, would be to remind yourself that archi- tecture is a life long learning process. Take every experi- ence, both big and small, as an opportunity to increase your knowledge and develop new skills, be open minded about different approaches, and don't stop seeking inspi- ration in everyday life. MAREJ

My family also instilled in me a great enthusiasm for travel which has allowed me to interact with architecture in different settings and has allowed me to understand the importance of cultural con- text when it comes to design. Later on, as I began my professional journey, I was fortunate enough to work with mentors that sparked new curiosity and passion within me. They challenged conventional thinking while encouraging me to question norms and explore innova- tive design approaches. Today, I believe my design approach draws heavily on the combination between those two experiences. I try to capture elements of my Latin American culture, while also drawing upon the knowledge gained later on in my profes- sional life abroad such as cutting edge technologies, innovative materials, new construction methods and global perspectives in design. What were some of your early goals and did any- thing happen to change them? Early in my career, my goals centered around aes- thetics and overall innova- tion of design/architecture projects. My primary focus on architecture was deeply rooted in aesthetics and my main goal was to design visually attractive projects. Today, while aesthetics re- main important to me, my perspective has grown over- time to appreciate design as a vehicle for positive trans- formation. Currently, I recognize that every architectural inter- vention has the power to make a significant impact and this understanding mo- tivates and drives my design approach. Whether it's a new construction project or a renovation, my ulti- mate goal is to add value. Responsible architecture should go beyond aesthetics. It should be about designing spaces which improve the lives of people who interact with them. I believe in the importance of place making and our responsibility as architects to consider the social, cultural and environ- mental factors that shape a specific context. My goal is to understand a space’s iden- tity and create architecture continued from page 8A

Merging my Latin American heritage with exposure to diverse cultures and design philosophies has fostered a more inclusive and culturally sensitive approach in my work which is crucial in today’s world.

that responds to these sur- roundings by celebrating the unique character of a place. My recent work in com- mercial architecture at CREATE in New York, has reinforced the importance of designing for people. I have come to appreciate the im- portance of designing spaces that foster social interac- tions and a sense of commu- nity. Additionally, as I have engaged in more renovation projects, I’ve come to value even more the significance of sustainability and it has become an important goal in my designs. I challenge my- self to find innovative ways to create architecture while preserving what is neces- sary by reusing and renovat- ing existing structures in or- der to embrace sustainable design principles. Looking back, my initial goals in ar- chitecture centered around aesthetics and innovation; over time they have tran- sitioned towards exploring the transformative power of design and how it can change people's lifestyles for the better. What was the most de- fining moment for you? One of the most defining moments in my career as an architect was when I had the opportunity to intern for an architectural firm in New York City in my last semester of college. Working at CREATE Architecture, Planning & Design in such a cosmopolitan and diverse city had a profound effect on my perspective - particularly regarding art, architecture and cultural exchange. Being immersed in this vibrant en- vironment allowed me to see how different architectural styles, innovative design approaches and cultural in- fluences all blended. Having this city as my background constantly inspired me and pushed me to explore the lim- its in my own ideas and work. New York City provided me with a contrast to my past experiences, particularly as

an architect from Colombia where architectural styles and urban environments pos- sess their own distinct char- acter, I discovered a whole new array of possibilities. New York's diversity, going from historic landmarks to cutting-edge contemporary structures, taught me the value of contextualizing de- sign within its surroundings and producing spaces which reflect the own cultural and urban fabric of a place. Additionally, working in New York introduced me to an incredible diversity of individuals from different backgrounds, disciplines, and cultures. Collaborating with professionals from vari- ous fields, different cultural backgrounds and diverse walks of life broadened my perspective while opening up opportunities to explore new ideas, materials, and techniques. It also broad- ened my knowledge of social and historical influences on architecture and helped me cultivate an approach to de- sign that takes into account all needs and aspirations of diverse communities. Finally, CREATE broad- ened my perspective on what architecture could be and allowed me to meet valuable mentors that shaped the way I think. It provided me with access to a great variety of architectural projects that required me to think outside the box. Working on projects that included retail, mixed use and residential projects all over The United States, each with unique constraints and opportunities - I learned adaptability, versatility, as well as how best to navi- gate urban environments. Moreover, learning from experienced architects who guided me and mentored me, I learned about approach to design, construction meth- ods, material selection and project management. Their guidance not only expanded my technical abilities but also instilled in me a sense of

responsibility in delivering high-quality designs. What unique qualities and or personality do you feel makes you most suc- cessful in your profession? In my profession as an ar- chitect, I believe that several unique qualities and aspects of my personality have con- tributed toward my career. One quality that sets me apart is my awareness of inspiration all around me. I find that although I have many hobbies outside of my professional practice, archi- tecture permeates almost all aspects of life. Whether it's my passion for photography, keeping up with recent films or books, baking or even im- mersing myself in nature, I can always find inspiration in unexpected places and have architecture in the back of my mind. This has helped me approach projects with a fresh perspective and come up with unique and captivating elements in design. Attention to detail is also another quality I believe is indispensable for an archi- tect, and I’ve strived to mas- ter over the years. Observing the intricacies of any space and carefully considering every element and detail, from material selection to lighting design is what dif- ferentiates good design from a great one. Motivation and dedica- tion are also key compo- nents that have contributed towards my career. I am incredibly passionate about my profession, and this en- thusiasm drives my desire to continually learn and stay updated. This has allowed me to remain innovative, relevant and responsive to changing needs and ever evolving architecture. I have trained myself to be adapt- able, fast learning and flex - ible, all which I believe are important qualities when practicing architecture. More generally, my multicul- tural experiences - such as my

10A — June 2023 — Thriving Under 30 — M id A tlantic Real Estate Journal


T hriving U nder 30 Tyler Huffman, BG Capital “Be patient and take time to explore all the different avenues CRE has to offer”


and funds in the commercial real estate landscape to help position our company to the forefront of the industry. Who or what has been the strongest influence in your career? The strongest points of influ - ence in my career so far have been the network of mentors and seasoned professionals I have chosen to surround myself with for guidance and advice on how to carry oneself within the industry. The managing part- ners of my company, Joe Byrne and Daniel Govberg, have been instrumental and key resources in my growth both professionally and personally. What challenges and or obstacles do you feel you needed to overcome to be- come as successful as you are today? Some early challenges I faced coming out of school was an overall lack of applicable knowledge I possessed. I felt extremely unprepared and overwhelmed when I was first getting started within the com- mercial real estate industry due to the little preparation, I felt I received in my educa- tional programs. I think the best way one can overcome these early challenges is by consuming as much industry material as possible and get- ting to know who and what deals are being done in your local market. Having a firm understanding of the local economics of your environment helps put the pieces of the puzzle together from a larger macro perspective. What outside activities do you enjoy during your free time? Outside of the workplace I enjoy spending time with my friends and family as much as possible. Also, I am an avid Philly sports fan and try to attend as many home football and basketball games as possible. What inspiring word of advice would you give to a young executive graduat- ing from college? Be patient and take time to explore all the different av- enues commercial real estate has to offer before ultimately deciding on what specific field within the industry you want to settle and focus on. There are so many terrific opportu - nities available in real estate and you would be surprised at what you find to be the most fulfilling in the end. MAREJ

(C-Pace financing is utilized for buildings with extensive energy efficiency improvements.) How do you contribute to your company and / or the industry? Currently, as the head of our Capital Market’s department here at BG Capital I serve as the lead originator for all debt and equity products as well as the team lead on the brokerage side of the busi- ness for the disposition and acquisition of all assets under company management. I work extensively with the largest institutional lenders, brokers,

hat is your great- est professional accomplishment?

Tyler Huffman Vice President Years with company/firm: 6 Years in field: 8 Years in real estate industry: 9 Real estate organizations /

My greatest professional ac- complishment took place this past year when my team closed over $158M in transactional value. This was the largest year to-date in the company’s his- tory for overall financing and transactional activity. What is your most notable project, deal or transaction? My most notable deal/trans- action this past year was the closing of our construction financing for a 172,000 s/f ground up new construction

affiliations: The Union League of Philadelphia Real Estate Club, Pennsylvania Association of Realtors

coldstorage industrial building in Philadelphia, PA. We closed a total loan amount of $72.58M with OceanFirst Bank contrib- uting $42.5M as the senior

lender and Nuveen Green Capi- tal contributing $30M as a C- PACE (Mezzanine) lender. This is the largest size C-PACE deal to date in Pennsylvania history.

O wners , D evelopers & M anagers

M id A tlantic Real Estate Journal — June 2023 — 11A


Upon completion, the oceanside redevelopment will include 67 homes Walters breaks ground on five more Osborn Dunes duplexes, introducing 10 additional units B

based Walters. The community’s new homes – including 32 duplexes and three single units – each will of- fer 1,033 s/f of living space (dou- ble the square footage of usable living space as compared to their pre-Sandy predecessors). All but three homes are spoken for by prior Camp Osborn own- ers and recent purchasers. Osborn Dunes at South Mantoloking homeowners can choose between two- and three-bedroom floorplans with street-level parking provided underneath each residence. Unit designs feature open floor plans, and standard amenities such as a GE kitchen pack- age with granite countertops and stainless-steel appliances, stacked washers/dryers, Ander- son windows, and tiled bath- room floors and shower walls. Walters anticipates delivery of the first Osborn Dunes at South Mantoloking duplex in August; one unit will serve as

the community’s model home. Construction will be ongoing over the next two years with the entire development ex- pected to be completed in 2025. “Walters has strong ties to the local community, which makes this project particularly gratifying,” said Ed Walters Jr. , founder and president. “Osborn Dunes at South Man- toloking is designed to meet FEMA’s flood guidelines with each unit elevated above the floodplain, and constructed to withstand severe weather conditions and flooding.” With experience building in a coastal environment, Walters is one of the leaders in sustainable construction and has developed award- winning residential develop- ments throughout New Jer- sey. The privately held firm is committed to the highest construction standards and environmentally responsible building practices. MAREJ

RICK, NJ — With con- struction well under- way on Osborn Dunes at South Mantoloking’s initial duplex residence – launched last fall on the 10th anniver- sary of Superstorm Sandy – Walters has broken ground on five more buildings that will introduce 10 additional units. Upon completion, the oceanside redevelopment will include 67 homes. Formerly known as Camp Osborn, Osborn Dunes at South Mantoloking is locat- ed on a barrier island sec- tion of Brick Twp., between Mantoloking and Normandy Beach; the community once consisted of single-family bun- galows that were destroyed by the tidal surge and a fire following the historic storm. “After more than a decade, we’re excited this development is hitting its stride, with vis- ible progress,” said Walters’ Austin Bocchicchio , sales

Osborn Dunes at South Mantoloking

manager. “Homeowners are very eager to rebuild and re- turn to their community.” For 10 years, the area remained vacant while Camp Osborn residents navigated permit-

ting, regulations, legal strug- gles and redesigns. In 2020, the homeowners’ association and the town reached a settle- ment for a new development to be rebuilt by Barnegat, NJ.-

Lee & Associates Maryland brokers purchase of four-acre site of future TPC Racing headquarters in Jessup, MD

the perfect opportunity and we assembled the perfect team that executed our vision. We believe there exists the perfect solution to every challenge, as long as you don’t give up and have the creativity and determination to find it.” Expanding need for automotive requirements in Corridor area “We are experts in the au- tomotive industry so, by de- signing this building from scratch, we have the unique opportunity to engineer ev- ery necessary and important feature and amenity into this project,” said Michael Levitas. “This includes drive-in bays, a window-dominant exterior, an industrial-strength heat- ing and ventilating system and durable flooring. Looking back, this should have been our approach from the outset but it took many rejections and disappointment to arrive at the best possible outcome.” Levitas intends to move

approximately ten full-time employees into the building which is contained upon a four-acre site. TPC Racing organizes and competes in racing competitions inter- nationally with a focus on Porsche automobiles, with its owner achieving widespread recognition in events includ- ing the Grand American Rotex Sports Car Series. DSC Sports is engaged in the manufac- ture of specialty parts used in performance racing and also provides service for vehicles. Building specifications and targeted uses Chesapeake Contracting Group is acting as general con- tractor for the project because, according to Levitas, “they are right company to handle this assignment due to the scope of the work and prior experi- ence.” Levitas added, “we are determined to construct the premier race workshop in the country dedicated to service, sales and racing. MAREJ

JESSUP, MD — More than three years after acquiring a site on 7869 Dorsey Run Rd., TPC Racing has broken ground on its new 40,000 s/f HQ building located in the Jessup section of Howard County. The purchase was necessary following a nearly 10-year search to find suitable space for the automotive group involved in the international racing circuit. Kate Jordan, SIOR , principal and Marley Welsh, SIOR , VP with Lee & Associates Maryland brokered the purchase of the four-acre site and was also retained by TPC Racing to lease the available 27,000 s/f of industrial/warehouse space in the under-construction build- ing. The single-story project is expected to be delivered in Q4 2023 which is expected to cost $8 million. TPC Racing takes the wheel of its real estate requirement TPC Racing founder Michael

TPC Racing rendering

TPC Racing decided to take the wheel, at the recommenda- tion of Lee & Associates. “Acquiring land and con- structing a build-to-suit project represented the most viable option for TPC Racing and, to further improve the financials, it was determined to develop a structure that could be leased out to other companies,” said Jordan. “Luckily, TPC Racing was patient enough to wait for

Levitas continually came up empty in his quest to find a suit - able home for his expanding en- terprise in the Howard County region, with a land-constrained market and preference of retail and industrial uses over indus- trial ones along the US Rte. 1 Corridor making the search all but impossible for this ex- tremely unique requirement. Finally, after more than a decade of coming up empty,

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