14A — October 27 - November 9, 2017 — M id A tlantic
Real Estate Journal
www.marejournal.com
M id A tlantic R eal E state J ournal
Land was purchased by the Beechwood Organization BreslinRealty announces sale of 11.5 acres in Smithtown, NY S
And 47,195 s/f of sales Bennett Williams brokers 59,194 s/f of leases
YORK, PA — Bennett Wil- liams Commercial has ar- ranged the sale/lease of the following transactions: 2,368 s/f retail space at Grandview Plaza, Manheim Twp. Upohar Ethnic Cuisines leased the property fromGrand- view Plaza Lancaster, LP. Tom Troccoli of Bennett Williams Commercial represented the tenant and the landlord in the transaction. 1,500 s/f retail space at Man- chester Plaza, East Manchester Twp. Smok’ NHogs BBQ leased the property fromDunManage- ment, LLC. Brian Parrish of Bennett Williams Commercial represented the tenant and Parrish, Brad Rohrbaugh , and Chad Stine represented the landlord in the transaction. 925 s/f retail space at Jack- sonville Plaza, Warminster Twp.. Shi Xiang Lin leased the property from JERC Partners XXI, LP. David Lin of Ben- nett Williams Commercial represented the tenant in the transaction. 1,175 s/f office space at 50 W. Boot Rd., West Whiteland Twp. State Farm leased the property from TYTREVKEN, LLC. Frank Englund of Ben- nett Williams Commercial rep- resented both the tenant and the landlord in the transaction. 23,233 s/f industrial space at 3706 Electronics Way, West Hempfield Twp. Terex Utili- ties, Inc. leased the property from Electronics Way, LLC. Jeff Herr of Bennett Williams Commercial represented the landlord in the transaction. 3,731 s/f office space at 630 W. Germantown Pike, Plym- outh Twp. Mid Atlantic Dental Services Holdings, LLC leased the property fromSmith Invest- ment Holdings. Theo Notaras of Bennett Williams Com- mercial represented both the tenant and the landlord in the transaction. 9,026 s/f retail space at Shop- pes at Bridges, 9th St. and Church St., City of Lebanon. Dollar General leased the prop- erty from Monarch Develop- ment, LLC. AdamHagerman , Rohrbaugh, and Stine of Ben- nett Williams Commercial rep- resented both the tenant and the landlord in the transaction. 2,400 s/f retail space at Hampden Centre, 4900 Carlisle Pike, Hampden Twp. Soltan Hookhan Lounge leased the property from Hampden Cen- ter, Inc. Blake Shaffer of Bennett Williams Commercial represented the tenant and
Gary Russell , Rohrbaugh, and Stine of Bennett Williams Commercial represented the landlord in the transaction. 3,896 s/f retail space at Ma- ple Village, 984 Loucks Rd. Leslie’s Poolmart, Inc. leased the property from Maple III Associates, LP. Rohrbaugh and Stine represented the landlord in the transaction. 1,176 s/f retail space at Covered Bridge Marketplace, 2405 Covered Bridge Dr., East Lampeter Twp. A2Z Nails, Inc. leased the property from Amish FarmDevelopment Co., LLC. Abe Khan , Rohrbaugh, and Stine of Bennett Williams Commercial represented both the tenant and the landlord in the transaction. 1,764 s/f retail space at Rich- mond Square, 605 Richmond Dr., ManheimTwp. EAT leased the property from Wether- burn Town Center, LP. Khan, Rohrbaugh, and Stine repre- sented both the tenant and the landlord in the transaction. 8 , 000 s / f r e t a i l spa c e at Shrewsbury Commons, Shrewsbury Borough,. Shrews- bury Beer & Soda, Inc. leased the property from Shrewsbury Commons, LP. Rohrbaugh and Stine represented the landlord in the transaction. 7,255 s/f mixed use building at 17363-17215 Barrens Rd., Hopewell Twp. Beatty Prop- erty Group, LLC purchased the property from James and Linda Wolf. Brendan Bur- rows of Bennett Williams Commercial represented the buyer in the transaction. 4,406 s/f mixed use build- ing at 101 S. Broad St., New Freedom Borough. Adiyogi, LLC purchased the property from Malcolm Weiss. Mark Jacobs , Rohrbaugh, and Stine of Bennett Williams Commer- cial represented the seller in the transaction. 26,534 s/f industrial building at 315 Busser Rd., Manchester Twp. G&S Partners purchased the property from The Magnus Group, Inc. Keith Kahlbaugh of Bennett Williams Com- mercial represented both the buyer and the seller in the transaction. 9,000 s/f retail building at 13579 Winterstown Rd., North Hopewell Twp. Brian Han- lon and Olivia Ballantyne purchased the property from John Shelley, II. Karen Nei- derer and Brian Parrish of Bennett Williams Commercial represented the seller in the transaction. n
recruitment. “People can tell within the first couple of min- utes if the company culture they are walking into is one where they want to work,” he explains. A bright and airy of- fice with music, in a cool build- ing at a good location attracts potential employees who want to become part of this desirable culture. The environment and work atmosphere are compel- ling factors in employment decisions. Stewart meets his ambi- tious goals by looking beyond cost-per-square-foot and oth- er general building metrics. “There is so much more to a deal than that.” The location strategy should complement the business. “The worst pos- sible deal I can sign is really long term with no flexibility. I have no idea how the company will evolve in three years. We may be willing to pay more or absorb capital expenditure, as long as we have shorter terms,” Stewart explains. Stewart constantly attempts to align the location strategy with HR, and believes his var- ied background in real estate accounting helps him achieve this. His past experience with construction enables him do better research prior to making a deal. “I try to analyze if this is an easy building to build space mithtown, NY — Breslin Realty an- nounced the sale of an 11.5 acre property, located at the northwest corner of Ne- sconset Highway (SR 347) & Smithtown Islip Rd. (SR 111) in Smithtown, NY. The land was purchased by the Beechwood Organiza- tion , with plans to develop townhouses on the property. The transaction was ar- ranged and negotiated by Charles Navarro of the Bre- slin Organization. Breslin Realty announced the signing of a long term lease with The Halal Guys at 901 Broadhollow Rd., Farming- dale. The Halal Guys will be occu- SILVER SPRING, MD — Petrie Richardson Ven- tures (PRV) and Rockwood Capital , the owner developers of Ellsworth Place retail center
11.5 acre property, located at the northwest corner of Nesconset High- way (SR 347) & Smithtown Islip Rd. (SR 111) in Smithtown, NY.
pying 1,500 s/f in the Republic Plaza shopping center. This will be their first Long Island location.
The transaction was ar- ranged and negotiated by Robert Delavale of the Bre- slin Organization. n
An Interview with Derek Stewart . . . continued from page 2A MetroPCS is the flagship prepaid brand of T-Mobile US, Inc. n Metropcs signs lease at Ellsworth Place Forever 21 Red and TD Bank on Level 3.
in. Can you get permits? Is it a union building or not? Those things all go into the mix, and help improve the deal.” To improve productivity, effi- ciency, and effectiveness, a real estate professional must think about how space is actually used. “We have spent the last year creating observation stud- ies, tracking where people are actually going in the office, how much time they are spending where and what they are doing. The results are really interest- ing,” Stewart explains. After one such study, they reduced the number of lounge areas 9 to 6 company. It encourages its employees to be productive throughout the day so that they can go home and enjoy life outside of the office. Indeed offers unlimited vacation time and allows people to work from anywhere. Perhaps contrary to popular belief, “People still like going to work to be collabora- tive in the office. It is easier to get more work done there,” Stewart explains. To attract talent, Indeed puts its offices in “really cool and attractive” locations. Indeed has opted for central business districts surrounded by vibrant communities and a wide selec- tion of interesting things to do. “Stuff outside of the office like cool parks, gyms and res- taurants are more important in downtown Silver Spring, announced that MetroPCS has signed a long-term lease. The national retailer will be join- ing Not Your Average Joe’s,
to our employees,” explains Stewart. This has also reduced the need for internal ameni- ties like gyms. Stewart also feels that co-working spaces like WeWork can make a very large impact on real estate in the future, potentially shift- ing the function from Real Estate to HR altogether. Such providers are revolutionizing the construction process by pre-building offices to client company standards. This re- duces the company’s capital expenditures and provides it with flexibility to grow or shrink. It also reduces the real estate component of hiring, which can now be handled by the co-working provider. There is definitely height- ened competition for good talented and real estate plays a prime role in attracting these qualified people. While salary and benefits are important, real estate is the most visible reason why an employee would want to work at one company versus another. Accordingly, driving hiring through this real estate and environmental feature can be crucial to a com- pany’s success. By Alexandra Betesh, KBA lease services and So- nya Verny, executive man- aging director, solutions development corporate solutions | Americas n
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