16B — April 14 - 27, 2017 — New Jersey — M id A tlantic

Real Estate Journal


N ew J ersey

IBS’s ImperiumLeaseManagement/ accounting platform receives ACA

Company announces several new hires at the firm Bussel’s Nozza &Cascio broker sale of 41 Ethel Road West E

TOTOWA, NJ — Imperium Powered by Acumatica, Inte- grated Business Systems’ (IBS’s) cloud-based lease man- agement/accounting software has received Acumatica-Certi- fied Application (ACA) status for the newly released Acu- matica 6.1 platform. Version 6.1 includes several important enhancements with direct ben- efits for commercial real estate owners and operators. Since its launch in 1979, IBS’s legacy lease manage- ment/accounting software has been used by dozens of New York/New Jersey regional commercial and residential real estate owners and opera- tors. The program offers a full financial management and re- porting suite – including deep functionality in the areas of es- calations and recoveries – with robust lease abstracting, and utility and tenant service bill- ing features for multi-family, commercial and other special- ized markets. Acumatica is a comprehen- sive Cloud ERP solution opti- mized for ease of use, adapt- ability, mobility, speed and security. In 2016, IBS released Imperium Powered by Acu- matica, which deploys the most important functions of the IBS legacy system on Acumatica’s extensible and scalable devel- opment platform. “Imperiumextends the power of Acumatica’s cloud ERP prod- uct with an industry-specific, fully integrated lease manage- ment/accounting system,” said IBS president Michael Mul- lin . “Imperium is specifically built to serve as the system of record within the real estate technology stack. It provides a single source for capturing and processing real estate enter- prise data, and interfaces with third-party products across Morris County, NJ — NAI James E. Hanson , has negotiated two leases in Morris County at 343 Walsh Dr. in Parsippany and 13 Watchung Ave. in Chatham. NAI Hanson’s Scott Perkins, SIOR and Chris Todd rep- resented the landlord at 343 Walsh, Cranberry Realty, and Thomas Ryan represented, 13 Watchung Avenue, LLC, the landlord at 13 Watchung Ave. 343 Walsh Dr. is a 27,169 s/f industrial building in the Fox Hill Industrial Park that is fully air-conditioned with 22’ ceilings. The new tenant, Multi-Pak, will be utilizing the space to house its grow- ing pharmaceutical packaging

multiple services categories in today’s multi-cloud world.” This includes popular CRM and lease workflow, building management, budgeting and valuation, tenant screening, residential portal, and utility billing applications – among others. Acumatica Version 6.1 in- cludes some great new ben- efits for Imperium users, per Mullin. For example, a new multi-cloud integration as- similates the product with the open source app repository on GitHub.com, providing easy access to services like Box.com and Survey Monkey. Addition- ally, Acumatica – long known for its superior mobile function- ality – now enables users-on- the-go to leverage parameters to create custom reports, and then download PDF report files to their devices. Further, added flexibility in the user interface provides a simplified interface option with better drilldown from dashboard widgets. “With each release, Acu- matica refines our business ap- plication’s functionality, user interface, reporting and more to deliver valuable tools to our users,” said Christian Lind- berg, vice president of partner solutions at Acumatica. “We’re proud to recognize Imperium as an Acumatica-Certified Application for our recently introduced version 6.1. The ACA title highlights out- standing development part- ners whose applications have met the highest standards set for Acumatica integration and functionality. To become an Acumatica-Certified Applica- tion, IBS has demonstrated commitment to quality by passing the Acumatica soft- ware test and aligning to future Acumatica roadmap releases . n company. Located in Chatham, 13 Watchung Ave. is an 8,908 s/f flex property, of which Allied Innovative Systems has leased 1,560 s/f of office space to house its healthcare research and development company. “These deals highlight the trend of continued high de- mand from healthcare compa- nies for prime office and indus- trial space in Morris County,” said Perkins. “Morris County’s highly-educated workforce and proximity to several leading international pharmaceutical companies and renowned hos- pitals has made it the center of New Jersey’s continued healthcare resurgence.” n

DISON, NJ — Bussel Realty Corp. (BRC) arranged the sale of 41 Ethel Rd. West in Edison, a 35,316 s/f industrial asset. BRC senior vice presidents Stephen Nozza and John Cascio represented the seller, Braha New Jersey Realty Associates , which sold the property for $115 per square foot. The buyer of the property was Snack Innovations, which relocated from Brooklyn, New York. “Snack Innovations will uti- lize the facility for its snack and healthy foods manufactur- ing and distribution to the New York metro region,” noted Cas- cio. “The strategic location of the property made it ideal for reaching its customer base.” 41 Ethel Rd. West is situated on 4.41 acres, which will al- low for future expansion. The property features 2,000 s/f of offices, 20-foot clear ceiling heights, four tailboards and one drive-in for loading, and 6,000 amps of electric power. The property is located in close proximity to Rte. 287 with connections to the New Jersey Tpke., and Rte. 1, as well as the Garden State Pkwy. Linden, NJ — Zoltek Realty’s Urszula Zoltek suc- cessfully brokered the sale of a vacant development lot located at 2309 E. Edgar Rd. in Linden on the corner of E. Edgar Rd. and Bacheller Ave. The unimproved land is located in the LI-Light In- dustrial District in the City of Linden. The property’s size is 20,000 s/f with 163 feet of frontage. The parcel is located at very busy signalized inter- section with full accessibility from traffic in both directions. Zoltek represented both the Marlboro, NJ — Pier- son Commercial announced the completion of four new commercial retail transactions at Downtown Robbinsville, a mixed-use development by Sharbell Development. “We are extremely proud to have represented Sharbell Development on these trans- actions, which will bring new retail options to Robbinsville, one of the fastest-growing com- munities within Mercer Coun- ty,” said Gregg Medvin , VP of Pierson Commercial, who managed the four retail leases

41 Ethel Rd. West

activity in the Northern/Cen- tral New Jersey industrial market, we have expanded our brokerage team in order to provide the level of per- sonalized and professional brokerage services, marketing and research our clients have come to expect from Bussel Realty Corp,” said Steve Bus- sel, SIOR , president of BRC. “This coupled with our hiring of Nicholas Spadavecchia , vice president of marketing and public relations, in 2013 has helped us continue to grow in market share and deal vol- ume and expand our presence as a leading commercial real estate services provider in New Jersey.” n

BRC announced the expan- sion of its industrial brokerage division with several new hires joining the company. The new members of the company’s brokerage staff include the following: • Eduard Skutelsk y joins as a vice president and will specialize in the Ports-related markets and other Northern/ Central New Jersey industrial markets. • Ilan Tabbouche joins as an associate, and will work in conjunction with industrial brokerage teams in the Edison, in particular with the team of Senior Vice President Leo Es- ses of BRC. “Due to the unprecedented

Zoltek Realty completes sale of vacant land parcel seller, Pearce Realty Llc, and the buyer, 7-Eleven Inc., who will build a convenience store. Zoni Language Centers who is one of the leaders in inter- national language and Col- lege placement education has signed 10-year lease at 585 Main Ave. in the downtown business district of Passaic. The space features a 5,500 s/f ground floor with fully built out classrooms and a modern café area open to students as well as the public. Zoni Lan- guage Centers is a unique and trendy concept that will bring a great addition to the neighborhood. Urszula Zoltek represented both landlord 585 Passaic LLC and Tenant in the long-term lease transaction. ProStaff Solutions is the second retail tenant to sign a lease for street level space in the newly renovated apart- ment building. The space con- sists of 638 s/f with oversized windows and also features a mezzanine. Urszula Zoltek also repre- sented both landlord and ten- ant in this lease transaction. n Pierson Commercial announces four new retail transactions

NAI Hanson negotiates leases to bring two healthcare companies to Morris County

on behalf of Sharbell. Developed in 2005, Down- town Robbinsville consists of over 900 residential units and more than 200,000 s/f of office and retail space. “The development speaks for itself. We’ve had an influx of retail leasing activity due to the development’s success, as well as the area’s high market incomes and growing residen- tial and daytime populations,” stated Tom Troy, president of Sharbell Development. “Ama- zon recently opened a one million s/f distribution center

that has added jobs and people to Robbinsville, which already benefits from a strategic loca- tion.” The recent retail transactions completed include: • H&R Block, which leased 1,885 s/f. David Dunkelman of Soloff Realty represented the tenant. • Everson’s Karate Institute, which recently opened within a 3,000 s/f space. • LabCorp, which recently opened a 2,258 s/flocation. • Kumon, which recently opened within a 1,440 s/f space. n

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