228-acre land parcel in Piscataway, New Jersey Rockefeller Group announces plans to develop 2.2 million s/f Logistics Center

ISSUE HIGHLIGHTS Volume 29, Issue 14 July 28 - Aug. 10, 2017


The Cushman & Wakefield team of Jules Nissim, Stan Danzig and Marc Petrella will manage the assignment. “We’re thrilled to move forward with the Rockefeller Group Logistics Center on one of the largest remaining developable sites in New Jer- sey at a time when demand for well-located and well- designed industrial product in the state is so strong,” said Clark Machemer , senior vice president and regional development officer for Rock- efeller Group’s New Jersey/ Pennsylvania operations. “When complete, the complex will offer prospective users a level of flexibility that’s unparalleled in New Jersey.” Rockefeller Group acquired

the site from the partnership of Lincoln Equities Group and Real Capital Solu- tions , in a transaction bro- kered by the aforementioned Cushman &Wakefield team, along with DavidBernhaut, Andy Merin, Gary Gabriel and Kyle Schmidt of Cush- man & Wakefield’s Capital Markets Investment team. “This property closes at an important time for the state’s I-287 corridor, which is now seeing significant interest from industrial developers due to its proximity to New- ark’s airport, port and rail stations,” said Joel Berg- stein , president, Lincoln Eq- uities Group. “We purchased the site at 171 River Road three years ago when most

developers were focusing on the I-95 corridor, and we’re fortunate to anticipate where the state’s next wave of de- velopment would take place.” Rockefeller Group’s plans for the development are pro- pelled by the vigorous de- mand for modern, top-quality warehouse space in New Jer- sey, specifically within the I-287 industrial corridor. The Rockefeller Group Logistics Center will feature properties ranging in size from 200,000 to more than 800,000 s/f, accommodating users with a wide variety of size and infrastructure requirements. Flexible transaction options will allow for future users to lease or own industrial space. n

ISCATAWAY, NJ — Rockefeller Group has acquired a 228-


a c r e l a n d p a r c e l i n Piscataway, whe r e the global real estate own- er, developer and investor will develop

Brokerage Directory

Section C

Clark Machemer

Bethel Township, PA — Dermody Proper- ties , a national real estate investment, development and management company spe- cializing in acquisitions and development of industrial real estate across the U.S., recently broke ground on Lo- gistiCenter SM at Midway. At completion, the building will offer 1,081,200 s/f of space ideally suited for warehouse, distribution or e-commerce business. Dermody Prop- erties expects to complete construction in the spring of 2018. “Dermody Properties has been investing in the Central Pennsylvania market for over 20 years,” said Douglas Kiersey , the 2.2 million s/f, state-of- the-art Rockefeller Group Logistics Center. Rockefeller Group has se- lected Cushman & Wake- field as the marketing agent for the Logistics Center, which will comprise six build- ings, representing a com- bination of speculative and build-to-suit opportunities.

Architecture & Engineering


Dermody Properties breaks ground on 1,081,200 s/f building known as LogistiCenter at Midway

Upcoming Conferences July 27, 2017 CPA Industrial RE &

tion. Nearby multi-national companies include Sam- sung, Dollar General, and PetSmart. The build-

Development Summit September 13, 2017 4 th Annual New Jersey Apartment/Multifamily Conference

i ng ar ch i - tect is Ware Ma l c omb and the gen- eral contrac- tor is Blue Rock Con-

Douglas Kiersey

struction. Upon completion, Logisti- Center at Midway will offer 36 ft. of clear height, 60-ft. loading bays, 207 car parking stalls (expandable to 309), 368 trailer stalls (expandable to 438), 212 dock doors, four drive-in doors and a generous truck court at 185 ft. deep. n

LogistiCenter at Midway

president, Dermody Properties. “Our customers are attracted to the market by access to a high percentage of the United States and Canada populations, as well as the presence of a high- quality labor pool.” LogistiCenter at Midway

is located at 270 Midway Rd. on a 136-acre site with direct access to I-78. This transpor- tation-advantaged location puts it within a one-day truck drive of 36 percent of the US population and 60 percent of the Canadian popula-

For speaking and sponsorship

information, please contact: Linda at 781-740-2900 or lchristman@marejournal.com


• 240,000± Sq. Ft. Mall on 28.8± Acres • 1,036.98± Ft frontage

• Zoning: B-1, Primary Business District, Possible Multi-Family • Public water and sewer

Property Previews Noon to 2PM August 9 & 16 4340 Route 130, Willingboro Township, NJ

888.299.1438 / maxspann.com

Inside Cover A — July 28 - August 10, 2017 — M id A tlantic Real Estate Journal



growing the forest while a partner tends to the trees.

Like us, you believe in long-term value over short-term gains. And you’re always planning for what’s next. At Berkadia, we take care of the details of selling assets, securing the right financing and servicing your loan for its entire lifecycle. This certainty of execution lets you keep your sights right where they need to be: on the horizon.

See how our corporate values deliver value for our clients: www.berkadia.com

BERKADIA.COM a Berkshire Hathaway and Leucadia National company

Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Investment sales/real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. In California, Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116, and Berkadia Real Estate Advisors Inc. under CA Real Estate Broker Lic. #01931050. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing.aspx. © 2017 Berkadia Commercial Mortgage LLC. Berkadia® is a registered trademark of Berkadia Proprietary Holding LLC.

M id A tlantic Real Estate Journal — July 28 - August 10, 2017 — 1A


OPPORTUNITIES ABOUND at New Jersey’s Largest and most dynamic CONFERENCE for housing and economic development professionals!


OCTOBER 5-6, 2017 • Waterfront conference center at Harrah’s resort Atlantic City

ENGAGING SESSIONS WITH CONTINUING EDUCATION CREDITS* Session topics include Property Management, Economic and Community Development, People First and Effective Approaches for Community Building. • NAHMA MEMBERS: NAHMAmembers may earn continuing education credits for all sessions within the Property Management track. • PROFESSIONAL PLANNERS: EarnAICP Certification Maintenance (CM) credits. Sessions are currently under review for AICP CM credits. MULTIPLE NETWORKING OPPORTUNITIES Boost your business as you connect with colleagues, partners, and potential clients from around the state during the trade show, our delicious breakfasts, luncheons, desserts, and Thursday evening’s networking reception. SPONSOR AND EXHIBITOR OPPORTUNITIES AVAILABLE On behalf of the conference, the NewJerseyAffordable Housing Management Association (JAHMA) Foundation invites you to become a sponsor or exhibitor. You won’t want to miss this opportunity to: JOIN us october 5-6!

2017’s conference is hosted by:

• Increase awareness of your brand • Meet with your valued customers • Expand your list of potential clients Visit our website for more information and reserve your space today!



New Jersey Housing and Mortgage Finance Agency www.njhousing.gov


Community AFFAIRS

* Credits for these sessions are currently being sought

Register ONLINE TODAY AND $AVE! www.njhousingconference.com

2A — July 28 - August 10, 2017 — 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 Associate Publisher ......................................... Steve Kelley Associate Publisher ........................................... Kim Brunet Sales Intern .................................................Kevin Minassian Senior Editor/Graphic Artist ..........................Karen Vachon Production Intern .......................................... Erin Shepherd Office Manager ............................................. Miriam Buttrick Contributing Columnists ........................Rona Zucker Kaplan Postmaster send address change to: Mid Atlantic Real Estate Journal 350 Lincoln St, Suite 1105, Hingham, MA 02043 USPS #22-358 | Vol. 29 Issue 14 Subscription rates: $99 - one year, $198 - two years, $4 - single copy 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 Mid Atlantic R eal E state J ournal ~ Published Semi-Monthly Periodicals postage paid at Rockland, Massachusetts and additional mailing offices

Peter Gallicchio Broker/President pgallicchio@remcorealty.net 732-253-0888 ext. 102 370 Campus Dr., Suite #128 Licensed Real Estate Broker

Rona Zucker Kaplan

Realtors: Protect Yourself from Being Sued Under the Consumer Fraud Act I f you’re a professional seller of real estate, you regularly advertise your properties. Make sure your marketing materials don’t land you in court. The law is de- signed to protect the buyer. In this case, the Consumer Fraud Act (CFA) protects buyers from false promises. Realtors can be sued under the CFA for misrepresenting their properties — even acci- dentally. Here’s how it works. The lawsuit must allege the realtor engaged in unlawful conduct, the party sustained a loss and there was a causal relationship between the real- tor’s unlawful conduct and the party’s loss. There are three categories of unlawful conduct: 1. When realtors affirma- tively make material misrep- resentations; 2. When realtors omit mate- rial information; and 3. When there is a violation of an administrative regulation. This article will address the first two: material misrepre- sentations and omissions of material information. Material Misrepresenta- tions – Bending the Truth The difference between a misrepresentation and an omis- sion is that the latter requires proof that the realtor intended to mislead; the former does not. Said another way – realtors who innocently provide misin- formation can be sued under the CFA even if they believed they were providing accurate information. According to the CFA, “An as- sertion of fact about a property, not puffery, is a violation if the facts are false and material to the transaction. Proof that the false statements were made EAST PENNSBORO TWP., PA — A Utah-based investor recently purchased the Fresenius Kidney Dialysis Center at 390 East Penn Dr. in East Pennsboro Twp. for $1.9 million in a transaction han- dled by RSR, REALTORS ® . Fresenius, which opened the center in 2016, has a long-term

Somerset, NJ 08873 Cell: 732-713-0227 Fax: 732-253-0887


The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal

with knowledge of the falsity of the misrepresentation, neg- ligence, or the intent to deceive is not required.” That means you’d better check — and re- check — anything you put in writing that’s used to market the home. Examples of lawsuits against realtors for providing inac- curate information include (1) misinformation that appeared in Multiple Listing Service ad- vertisements, such as “Ready to build now,” when no permits had been obtained; “property suitable for a two-family dwell- ing,” when no approvals or permits had been obtained; a representation that a property was not in a flood zone – when it was; (2) a representation that the leased area was greater than the actual square footage; and (3) a representation that a dam was not on the property purchased – when it was. Omissions of Material Misrepresentations – Did You Leave That Out on Purpose? Examples of lawsuits against relators for omitting to provide information to a buyer include failing to tell buyers that the property purchased was se- verely constrained by wetlands and failing to tell buyers there were access easements. You might think you can rely on provisions in an Agreement of Sale for protection. That’s not always the case. If you fail to disclose a mate- lease in the 5,100 s/f build- ing and will continue serving patients at the site. RSR part- ners Bill Rothman and Sam Reed represented the seller, 150 Associates, and the buyer, RNP 4, LLC of Salt Lake City. The 5,100 s/f center opened in 2016 and will continue to serve patients. It’s Difficult to Avoid Liability

rial fact, such as an encroach- ment, you might try invoking contract provisions which shift the burden to the buyer. For example, there might be a clause that says a sale is subject to easements that could have been discovered on a survey. This still may not protect you from liability. You also may not avoid liabil- ity for your intentional omis- sion by relying on the buyer’s failure to discover it. Accord- ing to the CFA, “(A) party to an agreement cannot, simply by means of a provision in the written instrument, create an absolute defense … in an action based on fraud in the induce- ment to contract.” Similarly, a “no representations” clause does not preclude introduction of earlier explicit misrepre- sentations, if the facts were peculiarly within that party’s knowledge and were, in fact, intentionally misrepresented. Nor can a realtor necessarily rely on the fact that a party is sophisticated. “A party’s status as a sophisticated party does not immunize a realtor’s inten- tional or negligent facilitation of a fraudulent scheme,” accord- ing to the CFA. The moral to the story: trust your source before making rep- resentations. That’s your best chance at avoiding a lawsuit under the CFA. Rona Zucker Kaplan is a partner at Cooper Levenson Attorneys at Law, based in the firm’s Atlantic City office. n

L ike us on F acebook !

F ollow our E vents #MAREJEVENTS


August 25, 2017 Deadline: August 12, 2017

We invite you to submit an article and inform our readers on tax issues that may effect the commercial real estate industry. Call and reserve your space today !

Rothman, who has handled the sale of numerous invest- ment properties throughout the area, said buyers are looking for buildings with long-term tenants with triple- net leases, where the lease is responsible for expenses as- sociated with the property in addition to rent and utilities. n RSR, REALTORS rep. seller in $1.9 million sale

Steve Kelley, Section Publisher Mid Atlantic Real Estate Journal skelley@marejournal.com

781-740-2900 ext.205 www.marejournal.com

M id A tlantic Real Estate Journal — July 28 - August 10, 2017 — 3A


M id A tlantic R eal E state J ournal Woflson of NAI Geis Realty represents Gym Jam in over 4000 s/f lease TDK Commercial Advisors announces over $4.95 million in new transactions

hiladelphia, PA — Thomas Kram- er , president of TDK C o mm e r - cial Advi- sor s (TD- KCA) , an- nounces a se- ries of newly c omp l e t e d office leases on behalf of several cli- ents in Penn- sylvania. TDKCA represented Roch P Thomas Kramer The Fallon Co. acquires 301 South McDowell Street Charlotte, NC — The Fallon Company announced its acquisition of 301 South McDowell St. in Charlotte. The 13-story, 184,144 s/f, multi-ten- ant office building will serve as The Fallon Company’s South- east regional headquarters, broadening the company’s pres- ence in the region and Char- lotte market. “Given Charlotte’s strong eco- nomic forecast, commercial and residential urban remigration, and central regional location, we plan to continue making significant investments in this market,” said Michael Fallon , chief investment officer of The Fallon Company. 301 South McDowell St. sits at the nexus of Uptown and Midtown, offering convenient access to a highly sought-after amenity base surrounding The Metropolitan, inclusive of a diverse array of restaurants, re- tailers, parks, newly construct- ed luxury apartments, and the Little Sugar Creek Greenway. The building also benefits from a wealth of economic activity stemming from its proximity to Uptown, the neighboring Meck- lenburg County Courthouse, and key hospitality assets in the Sheraton and Le Meridien. From both Uptown and I-277, 301 South McDowell St. is a highly visible, prominent as- set in Charlotte’s fast-growing urban landscape. The building is ideally located in Uptown Charlotte’s re-surging Second Ward, a thriving urban enclave poised to enhance Midtown’s connectivity to Uptown and promote a walkable “live, work, play” ecosystem. Terms of the deal, which was negotiated by Holliday Feno- glio Fowler, L.P. (HFF) , were not disclosed. n

Capital at the King of Prussia Business Center in leasing more than 11,000 s/f to the In- ternational Ministries at 1003 West 9th Ave. The non-profit organization will occupy the space before year end, for ad- ministrative offices. The lease had a value of over $2.4 mil- lion. Also at the King of Prus- sia Business Center, TDKCA represented the ownership in leasing over 4,000 s/f to Gym Jam, a state of the art learning center serving children with autism and other related spe- cial needs and their families in the Greater Philadelphia

area. TDKCA completed a third lease with CNNH, a regional organization that works with children suffer- ing from autism. Both leases have a combined value of over $600,000. Kramer remarked that “The King of Prussia Business Center continues to attract quality tenants as King of Prussia itself is becoming an even hotter market in which to relocate. Added infrastructure and amenities in the area and affordable rental rates com- bine to make King of Prussia a tremendous value for office space.” The International

Ministries was represented by Patrick Nowlan of New- mark Grubb Knight Frank ; CNNH was represented by Scott Williams of Avison and Young ; Gym Jam was represented by Paul Woflson of NAI Geis Realty . At 1 Chelsea Parkway, Boothwyn, TDKCA repre- sented SJS Realty in leasing 10,000 s/f to Amerisans, who will relocate their corporate headquarters to the site. Am- erisans executed a long term lease valued at over $700,000. TDKCA acted as sole broker in the transaction.

TDKCA represented AMC Delancey in leasing 5,800 s/f to Women In Transition, a non-profit organization based in center city Philadelphia. The group will relocate to the 4th floor in September 2017, and completed a long term lease valued at more than $1.2 million. Kramer further commented that “TDKCA continues to provide regional and national landlords with expert con- sulting services, and strate- gies, which yield strong leas- ing activity throughout our portfolio.” n



Properties Offered Separately - Bid Your Price! Bidding for these properties will close on Tuesday, August 15 th Perfect Investment or Owner/User Opportunities 32± Properties throughout the City of Gloucester ORDERED SOLD!

Commercial - Residential - Vacant Land

PROPERTY INSPECTIONS: Sunday, August 13, 12:00 – 1:00 p.m. on specied properties and all others can be previewed at your leisure

ALL Bidding Will be ONLINE ONLY Visit WarnerRealtors.com for full details

856.769.4111 WarnerRealtors.com

4A — July 28 - August 10, 2017 — M id A tlantic Real Estate Journal


M id A tlantic R eal E state J ournal

With South Korean Investors NJ’s Hampshire Cos. acquire six Louisiana Walmart neighborhoodmarkets in joint venture

orristown, NJ — The Hampshire Companies , a full service, private real estate investment firm, announces the acquisition of a six store Walmart Neighborhood Mar- kets portfolio totaling 255,968 s/f in southern Louisiana from SkilkenGold Real Estate De- velopment. The properties were acquired in a joint ven- ture with Hanna Asset Man- agement Company from Seoul, South Korea, and several of their institutional and retail investors. The portfolio consists of M

six, newly constructed free- standing retail stores located throughout southern Loui- siana in Houma, Meraux, New Iberia, Opelousas, Prai- rieville and Thibodaux. Part of Walmart’s Neighborhood Market concept, the portfolio features smaller stores, aver- aging around 42,000 s/f with a focus on offering a full suite of groceries, pharmacy, health and beauty aids, and a limited selection of general merchan- dise. The Walmart Neighbor- hood Market concept is a pure grocery store business model that is separate and distinct

from Walmart’s Supercenter strategy, which is comprised of large megastores that mer- chandise a wide array of recre- ational items, household goods and apparel at low prices in addition to grocery products. With a market share of 40% in Louisiana, Walmart is the number one grocer in the state. The fully-leased, single-tenant buildings were attractive to The Hampshire Companies and their foreign investor partners since the portfolio provides stable, core assets that are well-positioned for continued strong performance. “We continue to see foreign investors looking to utilize capital to purchase core invest- ments with well-known, strong tenants in mature and estab- lishedmarkets across the coun- try,” said Robert Schmitt , a principal of The Hampshire Companies. “Our knowledge of the U.S. real estate market, global economy, and proven, cycle-tested investment strate- gies made us an ideal partner for this investment with our South Korean partners. We look forward to continuing to work with them to target as- set classes that align with our investment strategy and their long-term goals.” Walmart NeighborhoodMar- kets present Walmart with the opportunity to target growth in more mature, urban and suburban markets, and are the largest potential growth format for the company in the United States. Walmart currently operates 699 Neigh- borhood Markets in 31 states and Puerto Rico. Walmart’s NeighborhoodMarket strategy has been a significant contribu- tor to the retailer’s turnaround and showcases Walmart’s com- mitment to sustainable and strategic growth. “Our decision to acquire this portfolio of assets in southern Louisiana was motivated by Walmart’s focus on long-term sustainable growth and our strategy of acquiring stable, core assets in strong mar- ketplaces,” said John Gold- smith , a portfolio manager for The Hampshire Companies. “Walmart’s Neighborhood Market concept was developed with the current and future needs of consumers in mind and will allow these six stores to serve their local markets well into the future and offer us stable income generating assets.” n


S hopping C enters

M id A tlantic Real Estate Journal — Shopping Centers — July 28 - August 10, 2017 — 5A


arsippany, NJ — RDManagement LLC , one of the nation’s larg- Along with JMF Properties, and Ripco Real Estate Corp. RD Management breaks ground at Waterview Marketplace in Parsippany, New Jersey P Marketplace and reflect our vi- sion to create the most vibrant retail environment in Morris County.”

center alongside our partners. Whole Foods are always highly anticipated by residents, and with their nearest location far away for many in Waterview’s trade area, this new store will pull shoppers from all over.” “We are thrilled that such a prominent and well-respected brand like Whole Foods Mar- ket has chosen Waterview Marketplace for its next loca- tion,” said Joe Forgione , the founder and principal of JMF Properties. “Whole Foods will be a wonderful new addition to the community and will have a positive impact on the quality of life for area residents and employees. They are the right tenant to anchor Waterview

est privately h e l d r e a l - estate devel- opment and management o r g a n i z a - tions, along w i t h JMF Properties, and Ripco

“Whole Foods Market is on point with where our society is today culturally, with the focus being placed on health, wellness, and high-quality food offerings. As a result of this focus, Whole Foods will bring in customers from a wide region as more people concen- trate on overall wellbeing for themselves and their families,” Todd Cooper , co-founder of Ripco Real Estate Corp. said. “We are looking forward to leas- ing the remainder of the project to excellent operators locally, regionally, and nationally.” n the best location in the mar- ket. The presence of Home Depot and superior perform- ing restaurants enhances the tenant mix and provides shop- pers additional reasons to visit this center. We believe that we are adding The Potomac Mar- ketplace to the portfolio at the right time, as the trade area is poised to take advantage of catalysts for housing growth.” The population in the trade area has expanded significant- ly since 2000, growing 35.6% to 31,700. Moreover, the ratio of household incomes (aver- age: $77,042) to home values (median: $222,000) provides a customer base with significant discretionary income. Demand for housing is being fueled both by commuters seeking more affordable housing options and by jobs being created in the im- mediate area. Notably, the U.S. Customs and Border Security Advanced Training Center in Charles Town is expanding and Proctor & Gamble is construct- ing a 1.2 million s/f manufac- turing facility in Martinsburg, which will reportedly hire 700 new employees by 2019. This acquisition marks the joint-venture partners’ sixth ac- quisition overall and the third since November 2016. n

Waterview Marketplace

Waterview Marketplace will be anchored by a new Whole Foods Market that will occupy 48,000 s/f of the 150,150 s/f center set to open in 2018. This Whole Foods Market store is set to become the third location in Morris County. “RD Management’s goal at Waterview Marketplace is to

create a destination that ap- peals to both residents and employees in the Parsippany area,” said Richard Birdoff , principal and president of RD Management. “Having Whole Foods Market as the anchor tenant sets the bar high for the caliber of businesses we will work to bring into the

Richard Birdoff

Real Estate Corp. have broken ground at Waterview Marketplace in Parsippany.

HI-LIGHTS July 28 - Aug. 10, 2017 Yanni & Ginn of Equity Retail Brokers sell AutoZone

HeidenbergPropertiesGroup&SREPacquires The Potomac Marketplace for $35.9 million

Ranson, WV — A joint venture partnership between Heidenberg Properties Group and Strategic Real Estate Partners (SREP) announces the $35.9 million acquisition of The Potomac Marketplace in Ranson. The newly acquired property is a 370,000 s/f shopping cen- ter anchored by a 61,000 s/f Weis Supermarket, a 122,000 s/f Home Depot, an 88,000 s/f Kohl’s, and a 15,000 s/f Petco. The center is 92% oc- cupied and has 51,000 s/f of inline store space and outlots, which offer an array of popular restaurants including Panera Bread, Dunkin’ Donuts, Glory Days Grill, California Tortilla, Roy Rogers, and John’s Café. Prominently located along Rte. 9 (17,600 VPD) with 2,250 feet of frontage, The Potomac Marketplace is by far the dominant retail presence in the Ranson and Charles Town trade area (which includes historic Harpers Ferry). Rte. 9 has become the major retail corridor in the region with the next closest hubs located over 15 and 20 miles away in Martinsburg, West Virginia and Winchester, Virginia respectively. Rte. 9 connects the eastern panhandle of


KLNB brings first Massage Envy to Washington D.C.

The Potomac Marketplace aerial

West Virginia with Lees- burg, Virginia and the Dulles Technology Corridor just 40 miles southeast of the center. Regional access is provided just two miles south of the center by US Rte. 340, which connects Ranson to Freder- ick, Maryland, 28 miles to the east. Rtes. 9 and 340 also provide convenient access to

Interstates 81, 270, and 66. This network of highways has played an important role in the trade area’s recent and continuing growth. Robert Heidenberg , presi- dent and CEO of Heidenberg Properties, said, “In acquiring The Potomac Marketplace, we obtained yet another grocery- anchored shopping center in



6A — July 28 - August 10, 2017 — M id A tlantic Real Estate Journal


S hopping C enters

Shaffer reps. MellowMink Brewing in 3600 s/f transaction BennettWilliams Commercial brokers 29,717 s/f of leases

ORK, PA — Bennett Williams Commer- cial has arranged the sale/lease of the following transactions: 2,000 s/f at 2997 Cape Horn Rd., York Twp. The Nail Lounge leased the property from Nina Argento. Blake Shaffer of Bennett Williams Commercial represented the tenant and Abe Khan, Brad Rohrbaugh , and Chad Stine of Bennett Williams Commercial represented the landlord. 3,000 s/f at Summerdale Y

Plaza, 429 N. Enola Rd., East Pennsboro Twp. TitanMobile, LLC dba T-Mobile leased the property from Summer- dale Plaza Associates. Khan, Rohrbaugh, and Stine repre- sented the landlord. 1,983 s/f at Castle Com- mons, 200 S. Spring Garden St., Carlisle Borough. Cricket Wireless leased the property from Castles Land Compa- ny. Adam Hagerman and Justin Willits of Bennett Williams Commercial repre- sented the tenant. 1,753 s/f at 884 E. Main St.,

Ephrata Twp. T-Mobile leased the property from Premier R&G Properties. Hagerman, Rohrbaugh, and Stine repre- sented the landlord. 1,200 s/f at Meadowbrook Village, 2900 Whiteford Rd., Springettsbury Twp. Invisible Fence of Southern PA, LLC leased the property from LL Whiteford Road, LLC. Shaffer and Willits represented the landlord. 4 , 152 s / f at Kings t on Square, 2500 Eastern Blvd., Springettsbury Twp. Inno- vations Dance Center, LLC leased the property from Kingston Square Associates, LLC. Shaffer, Rohrbaugh, and Stine represented the tenant. 1,000 s/f at Windsor Park Shopping Center, 5232 Simp- son Ferry Rd., Lower Allen Twp. Boost Mobile leased the property from Windsor Park Shopping Center, LLP. Khan, Rohrbaugh, and Stine repre- sented the landlord. 1,600 s/f at Carlisle Mar- ketplace, 235 S. Spring Gar- den St., Carlisle Borough. Preferred T-Mobile leased the property from Clover- Carlisle, LLC. Cami Miller , Rohrbaugh, and Stine of Ben- nett Williams Commercial represented the landlord. 5,800 s/f at Willow Val- ley Crossroads, 2416 Willow Street Pike, West Lampeter Twp. Mick’s All American Pub leased the property from Willow Valley Associates, Inc. Hagerman, Rohrbaugh, and Stine represented the landlord. 1,629 s/f at Charlestown Village, Rt. 29 and General Warren Blvd., Charlestown Twp. Dunkin’ Donuts leased the property from GV Com- mons Lot One, LP. Bill Hess of Bennett Williams Commer- cial represented the landlord. 2,000 s/f at Hanover Cross- ings, 471 Eisenhower Blvd., Hanover Borough. Axiom Staffing leased the property from Ridge North Shopping Center Associates, LP. Shaf- fer represented the tenant and Rohrbaugh and Stine represented the landlord. 3 , 600 s / f at Hampden Centre, 4900 Carlisle Pike, Hampden Twp. Mellow Mink Brewing, Inc. leased the prop- erty from Hampden Center, Inc. Shaffer represented the tenant and Gary Russell , Rohrbaugh, and Stine of Ben- nett Williams Commercial represented the landlord. n

Building Quality, Value and Trust

Shop Rite Staten Island, NY

Ross Dress for Less Philadelphia, PA

TJ Maxx Woodbridge, NJ

Walgreens Woodbridge, NJ

Bed Bath and Beyond Manhawkin, NJ

Greenleaf Howell, NJ

4900 Route 33, Suite 101, Wall Township, NJ 07753 732.933.0707 www.gerardconstructioncorp.com

M id A tlantic Real Estate Journal — Shopping Centers — July 28 - August 10, 2017 — 7A


S hopping C enters




 PENNSYLVANIA · Airport Village Coatesville, PA · Cedarbrook Plaza Wyncote, PA Philadelphia Market · Market Street Square Elizabethtown, PA · Weis Plaza Kutztown, PA  NEW YORK · East Meadow Commons East Meadow, NY · 192 Lenox Av. Manhattan, NY

 INDIANA · Griffith Park Plaza Griffith, IN · Felbram Plaza North · Felbram Plaza South Indianapolis, IN  MICHIGAN · Cedar Village Holland, MI · Greenfield Commons Southfield, MI Detroit Market · Lincoln Park Plaza Lincoln Park, MI  WEST VIRGINIA · Weirton Plaza Weirton, WV · Warwood Plaza Wheeling, WV



 OHIO · Canton Centre Canton, OH  NORTH CAROLINA · Sycamore Square Fayetteville, NC · Durham Plaza Durham, NC  SOUTH CAROLINA · Dutch Square Center Columbia, SC

 NEW JERSEY · Botany Plaza Clifton, NJ · Ewing Towne Centre Ewing, NJ · Edgewater Park Plaza Edgewater Park, NJ  TENNESSEE · Knoxville Commons Knoxville, TN

· 312 Leonard St. Williamsburg, NY · 10 West 46th St . New York, NY · Knickerbocker Av. Bushwick, BK


To schedule a meeting contact: Leasing@NassimiRealty.com Acquisitions@NassimiRealty.com

Nassimi Realty, LLC 370 Seventh Avenue Suite 1600 New York, NY 10001


8A — July 28 - August 10, 2017 — Shopping Centers — M id A tlantic Real Estate Journal



Los Angeles, CA and Cary, NC _ Press Release

Kay Properties and Investments has successfully completed 100% of the $8,500,000 - 506c equity raise for the Shannon Oaks DST property located in Cary NC.

The Shannon Oaks DST was structured as an ALL-CASH/DEBT-FREE DST in an effort to potentially protect investors from lender foreclosure, refinancing risk,


Shannon Oaks is a 56,571 sq ft two-story class A office building well located in Cary, NC.

1031 debt replacement risk and other potential risks found in leveraged properties.


The property was exclusively available to clients of Kay Properties and Investments, LLC seeking to COMPLETE A 1031 EXCHANGE as well as make a DIRECT CASH INVESTMENT.

the founder and CEO of Kay Properties and Investments commented: DWIGHT KAY


“We believe Cary to be an ideal market to invest in due to its location just minutes from downtown Raleigh, the Research Triangle Park (RTP) and RDU International Airport.”

Mr. Kay continued: “With the overall vacancy rate for office product in Cary, NC at a low6.4% as of 4thquarter 2015we are extremely comfortable with owning an all-cash/debt-free DST property in this dynamic market for the long term. Past performance is not a guarantee of future results. All real estate and DST properties contain various risks, including but not limited to, potential loss of principal invested, that cash flows/appreciation/returns are not guaranteed and could be lower than anticipated and adverse tax consequences.


Along with multiple large and small 1031 exchange and direct cash investors purchasing an interest in the Shannon Oaks DST we are also proud to announce that multiple Kay Properties teammembers also personally invested in the property.”





Kay Properties and Investments, LLC was founded by Dwight Kay to offer solutions to 1031 Exchange clients throughout the country.

Kay Properties and Investments, LLC has multiple teammembers that are licensed to sell securities in all 50 states, Washington D.C. and the U.S. Virgin Islands

Offerin g DST Advisory Services to 1031 Exchange Clients and working with manymajor DST sponsor companies throughout the country

Better Business Bureau A+ Accredited Business

We have participated in over $7 Billion dollars worth of DST properties

Always Available to Help Our Clients- Weekends, Holidays and Whenever You Need Us

Offering client exclusive DST properties solely available to Kay Properties clients

Specialists in the Delaware Statutory Trust (DST) 1031 Exchange Marketplace

Headquartered in Los Angeles, CA with offices in NewYork, NY and Washington, DC

Jason Salmon - Senior Vice President and Managing Director of Real Estate Analytics Office: (855) 466-5927 Cell: (917)-837-1492 Email: Jason@kpi1031.com

Betty Friant, CCIM – Senior Vice President Office: (202)-552-6627 Cell: (540)-550-1784 Email: Betty@kpi1031.com

Chay Lapin - Vice President Office: (855) 466-5927 Cell: (562) 882-7617 Email: Chay@kpi1031.com

Dwight Kay - Founder Office: (855) 466-5927 Cell: (310) 404-7297 Email: Dwight@kpi1031.com


This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the "Memorandum"). Please be aware that this material cannot and does not replace the

M id A tlantic Real Estate Journal — July 28 - August 10, 2017 — 9A



WE KEEP CLOSING DEALS. Scale is relative, importance is not. Over 26 years, Meridian has navigated its share of cycles. No matter the climate, nor the size or type of your deal, one constant remains — Meridian closes for you.

Shouldn’t you be working with America’s most active dealmaker?

MAREJ - Large or Small– 5-25-17.indd 1

5/25/17 9:35 AM

10A — July 28 - August 10, 2017 — Shopping Centers — M id A tlantic Real Estate Journal


S hopping C enters

M id A tlantic Real Estate Journal — Shopping Centers — July 28 - August 10, 2017 — 11A


S hopping C enters Off-market transaction trades at an aggressive cap rate Yanni and Ginn of Equity Retail Brokers sell AutoZone P hiladelphia, PA – Ken Yanni and Ed Ginn of Equity Re-

Houlihan-Parnes places $1.3 million mortgage loan

tail Brokers were the sole brokers facilitating the sale of a new construction AutoZone in Philadelphia. The buyer was an out-of- state 1031 buyer. It was an off-market transaction that traded at an aggressive cap rate. The AutoZone is now under construction. n KLNB brings first Massage Envy to Washington D.C.

1959 & 1979 Bruckner Blvd.

Bronx, NY — Michael O’Neill of Houlihan-Parnes, Realtors, LLC / Q10 l NY Re- alty Advisors announced the placement of a $1.3 million first mortgage on the 1,900 s/f Ken- tucky Fried Chicken building

and CleanCity laundry facility located at 1959 & 1979 Bruckner Blvd. The 7-year, non-recourse loan is fixed at 4.2% interest on a 30-year amortization schedule. The lender,also agreed to 3-year option to extend. n

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

Baltimore , MD — KLNB announced today that Massage Envy’s first fran- chised location in Washing- ton, D.C. is opening at 4926 Wisconsin Ave. NW in Ten- leytown. This 3,000 s/f lease marks the first membership massage franchise in D.C. proper and the first to receive a special exemption permit in the District. KLNB principal, Ben Becker , represented the independent owner and opera- tor of the D.C. Massage Envy in the deal and has brokered the deals for 53 other Mas- sage Envy franchised locations throughout the Mid-Atlantic. KLNB will continue handling leasing for future locations as Massage Envy franchisees expand throughout D.C. “KLNB has worked with Massage Envy throughout the Mid-Atlantic region for the past 10 years, and it wasn’t al- ways easy to secure leases for a standalone massage clinic,” said Becker. “We spent the first few years of our relation- ship educating landlords about the benefits of having a health and wellness tenant and the value that Massage Envy can provide as a synergistic, strong traffic driver. Over time, land- lords began to love the idea, and Massage Envy became a tenant in high demand.” n Shown from left: Tony Jacques, franchisee; Terri Jacques, franchi- see; Greg Nagel, area co-developer for Massage Envy; Ben Becker, principal at KLNB; Diane Kelley, franchisee; Joe Kelley, franchisee.

  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

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


12A — July 28 - August 10, 2017 — Shopping Centers — M id A tlantic Real Estate Journal


S hopping C enters


by region

GLA/ Acreage Anchor Tenants

Property Name Northeast



307,799 Kmart, Burlington, Market Basket

Boston Rd. & Tower Farm Rd. Plain St. & Lowell Connector Medway St. & Beaver St.

Shops at Billerica

Billerica, MA

271,377 Target, Marshall’s, Best Fitness

Meadow Brook Center

Lowell, MA

157,921 Stop & Shop, Dollar Tree

Milford Crossing

Milford, MA

234,705 Future Development

Route 440 & Goldsborough Dr.

Harbor Pointe Marketplace

Bayonne, NJ

126,367 Virtua Medical Group, TD Bank

Route 70 & N. Locust Ave. Hanover Ave. near Horsehill Rd. State Hwy. 73 & Sunbird Dr. Adjacent to Foreign Trade Zone Route 18 & Foxborough Dr. Route 46 & Waterview Blvd.

Shoppes at Renaissance Square

Hanover, NJ Evesham, NJ

19 AC BJ’s Wholesale Club (New Development)

BJ’s Shopping Center

26,016 Royal Farms

Sunbird Plaza

Marlton, NJ

16.963 AC Across from Walmart, Sam’s, TJ Maxx 9.33 AC Across from Walmart Supercenter 148,708 Whole Foods (New Development)

Vacant Land

Mount Olive, NJ Old Bridge, NJ Parsippany, NJ

New Development

Waterview Marketplace

Vacant Land

Vauxhall (Union), NJ 0.3239 AC Future Development

Springfield Ave. near I-78

Vineland Marketplace


S. Delsea Dr. (Rte. 47) & College Dr.

Vineland, NJ

Future Development

Williamstown, NJ

94,452 Rockin’ Jump, Dollar General, CVS

Williamstown Shopping Center

Black Horse Pike & Main St.

26 AC Across from Walmart Supercenter

Route 13 & Bennie Rd.

Vacant Land Kohl’s Plaza

Cortland, NY Deer Park, NY

182,875 Kohl’s, Super Stop & Shop

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

Glenville (Albany), NY 170,616 Target, Pet Supplies Plus, Mattress Firm Lake Ronkonkoma, NY 170,451 Stop & Shop, Regal Cinemas, Dollar Tree

Target Shopping Center

Lake Shore Plaza II & III

Portion Rd. & Patchogue-Holbrook Rd.

Redevelopment Opportunity

Latham (Colonie), NY 118,863 Vent Fitness

Route 7 & Swatling Rd.

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

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

Harriman Commons

276,792 Home Depot, Raymour & Flanigan, Staples

Home Depot Shopping Center

Nanuet, NY

78,659 Super Stop & Shop, Residence Inn

Orangeburg Commons

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

Orangetown, NY

29,314 SoulCycle

The Mill

Southampton, NY

21,212 US Post Office

Stony Ridge Plaza

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

Stony Point, NY


660 White Plains Road

Tarrytown, NY

Adjacent to Super Stop & Shop

134,271 Home Depot

Home Depot Shopping Center Home Depot Shopping Center

Lehigh St. & Route 78 Hanover St. (Rte. 34) & I-81 Cowpath/HorshamRd. @Rte. 309 Rte. 309 & Pumping Station Rd. Hamilton Blvd. & Grange Rd.

Allentown, PA

140,715 Home Depot, Chili’s

Carlisle, PA

Montgomeryville, PA 133,124 BJ’s Wholesale Club, Lowe’s

Five Points Plaza

Richland Marketplace

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

Quakertown, PA Trexlertown, PA

Macungie Crossing Shopping Ctr.

±36,671 Near Walmart Supercenter

Midwest Marshall’s at The Grove

400,000 Marshall’s

Downers Grove, IL

75th St. & Lemont Rd.

Evansville Shopping Center

162,394 Rural King, Buehler’s IGA, Dollar General

Evansville, IN

Morgan Ave. & Boeke Rd. Pendleton Pike & Shadeland Ave. U.S. Hwy. #30 & Water St.

Pendleton Plaza

134,797 Rose’s Department Store

Indianapolis, IN

The Market Place at Warsaw

183,900 Carson’s Dept. Store, Sears, Dunham’s

Warsaw, IN

Muskegon Shopping Center

167,212 Jack Loeks Theatres

Muskegon, MI

Henry St. & Norton Ave.

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

810 Seventh Avenue, 10th Floor New York, NY 10019 • rdmanagement.com

M id A tlantic Real Estate Journal — Shopping Centers — July 28 - August 10, 2017 — 13A


S hopping C enters


by region

GLA/ Acreage Anchor Tenants


Property Name



Port Huron Shopping Center

114,981 Big Lots, Save-A-Lot, Talecris Plasma

Howard St. & 24th St.

Port Huron, MI

Vacant Land

9.37 AC Development Opportunity

Southgate, MI

Fort St. & Burns Ave.

Midway Shopping Center

University Ave. & Snelling Ave.

293,732 Rainbow Foods, Office Max, Walgreens

St. Paul, MN

Home Depot Plaza

Rte. 20 & Orchard Rd.

148,440 Home Depot

Ashtabula, OH Columbus, OH

Great Western Commerce Center

N. Wilson Rd. & Valleyview Dr.

300,254 Great Western Academy, Restaurant Depot

South Academy Plaza

102,962 Academy Sports + Outdoors

Memorial Pkwy. SW&DrakeAve. SW

Huntsville, AL

Fern Park Plaza

131,646 Ross, Beall’s Outlet, Aldi, Dollar Tree 312,498 Two blocks north of University of Florida

Fern Park, FL

Semoran Blvd. & Hwy. 17/921 NW 13th St. & University Ave. USHwy. 98N&LakelandParkCtr Dr.

Mixed Use Development

Gainesville, FL


Wildwood Antique Mall, Chuck E. Cheese

The Groves

Lakeland, FL

Merchants Crossing

323,061 Beall’s Outlet, AMC Theatres, JoAnn Fabrics

N. Fort Myers, FL

US Hwy. 41 & SR 78

265,409 Earth Fare, Burlington, Best Buy, Staples

Shady Oaks Shopping Center SW 27th Ave. & College Rd.

Ocala, FL

Seminole Centre University Mall

368,166 Walmart Supercenter, Ross, Aldi 1,332,205 Dillard’s, Burlington, Grand’s, Sears

S Orlando Dr. & Lake Mary Blvd. EFowler Ave. &BruceB. DownsBlvd.

Sanford, FL Tampa, FL

257,761 Lowe’s, Kroger, Dollar Tree

Russell Centre

Route 23 & Diederich Blvd.

Ashland, KY

Long Meadow Shopping Center

164,293 CVS, PA Dutch Market, Dollar General

Potomac Ave. & Northern Ave. Liberty Rd. & Brenbrook Dr.

Hagerstown, MD

Brenbrook Plaza

146,586 Home Depot

Randallstown, MD

Marketplace at Rivergate

Gallatin Pike & Conference Dr.

111,463 Oak Factory Outlet, Harbor Freight Tools

Nashville, TN

Shops at Tech Ridge

12901 I-35 South & Parmer Ln.

504,153 Floor & Decor, Fitness Connection, Ross

Austin, TX

Food Lion Shopping Center

10.2 AC Food Lion, Fresenius Medical

Rte. 1 & Chippenham Pkwy.

Richmond, VA Winchester, VA

Winchester Plaza

89,918 Dick’s, The Fresh Market, Planet Fitness

S. Pleasant ValleyRd. &E. Jubal EarlyDr.

263,323 Kmart, Kroger, Goody’s Dept. Store

St. Albans Shopping Center

Rte. 60 & Boone St.

St. Albans, WV

West Freestanding Barnes & Noble

19,360 Barnes & Noble

1035 N. Metro Pkwy. W & 28th Dr.

Phoenix, AZ

Kmart Plaza

127,754 Kmart, Family Dollar

E. Sahara Ave. & McLeod Dr.

Las Vegas, NV

Kmart Shopping Center

119,705 Kmart, Value Village

Mission St. SE & 25th St.

Salem, OR

Freestanding Office Max

410 S. 900 E. & 400 S.

29,051 Office Max

Salt Lake City, UT

Puerto Rico

Arecibo Towne Center

±350,000 Future Development

Routes 2 & 22

Arecibo, PR

±525,000 Walmart Supercenter, Home Depot

Reinadel Sur; PonceTowneCenter II

Routes 2 & 10 @ PR-52

Ponce, PR

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

810 Seventh Avenue, 10th Floor New York, NY 10019 • rdmanagement.com

Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76

Made with FlippingBook HTML5