4A — June 8 - 21, 2012 — Mid Atlantic Real Estate Journal

www.marejournal.com M ID A TLANTIC R EAL E STATE J OURNAL Four lease transactions totaling 24,420 s/f Weiss Realty announces first quarter transactions M 8,042 s/f with Energy Fitness at 50 Piermont Rd., Cresskill. Weiss Realty represented both the landlord, Bren-Cruis and the tenant SDM Fitness. gies has leased 640 s/f. SheldonWaltuch, Orthodon- tist, signed a long-term lease renewal for 1,838 s/f. With these lease signings Colonial Village is now 97% leased. OONACHIE, NJ — Jaime Weiss, presi- dent of Weiss Re-


The Allentown Economic Development Corporation (AEDC) is soliciting proposals from qualified developers to acquire and renovate 612 W Hamilton Street, Allentown, PA (formerly known as the Schoen’s Furniture Store)

A prime development site for commercial and residential mixed-use development located in the Neighborhood Improvement Zone (NIZ), the Central Business District (B-2), and the Enterprise Zone in Center City, Allentown, Pennsylvania Site Inspection by appointment on: Friday June 8, 2012 and Friday June 15, 2012 Proposal Due Date: Friday June 29, 2012 - No later than 3pm

alty has an- nounced four lease trans- actions the sale of 5,300 s/f medical office build- ing in West NY wi th a total aggre- gate value in excess of $3.4 million. In January Matthew Weiss, VP at Weiss arranged a long- term lease transaction for ENGLEWOOD CLIFFS, NJ — The 100 Mile Fund, a short- duration real estate investment vehicle managed by Procida Funding has announced net returns to investors of 13.8% over its first sixth months of operations. Focused on $2 million to $10 million loans within 100 miles of Procida’s Englewood Cliffs offices, the 100 Mile Fund has originated more than $22 million in loans and utilized leverage through senior par- ticipations. Jaime Weiss

In Edison at Colonial Village Professional Office Park and SC, Weiss Realty, the center’s leasing and managing agent, signed three office leases transactions totaling 3,478 s/f The new tenants include Dr. Yvonne Nelson who has leased 1,000 s/f for internal medicine arranged with MatthewWeiss in cooperation with Paul Sal- vesen of American Properties. SLiQ Information Technolo-

Jaime Weiss, acting on be- half of H.M.L. Realty Corp. arranged the sale of 6701 Bergenline Ave., West NY to an investment client of Weiss Realty for a sale price of $1.42 million. The 5,300 s/f medical office building is leased to Concentra Health Services. Weiss acted as consultant to the landlord H.M.L. Realty in the lease transaction. ■ ect has gone from 10% to 50% leased since securing the loan. “These types of investment opportunities are all over the region,” said president Billy Procida. “Jobs that had stalled during the economic downturn and now just need to secure the right financing and be reposi- tioned for the current market in order to move forward. That’s exactly where the 100 Mile Fund comes in. In addition to the loan, we provide the ad- visory services to make these projects work long term.” ■

For RFP access please visit www.allentownedc.com For questions please contact AEDC at 610-435-8890 905 Harrison Street, Allentown, PA 18103

Procida’s 100 Mile Fund reports 13.8% returns Investments during the fund’s first six months included: A$3.5 million bridge loan to the devel- oper of River Park Estates in North Bergen, a townhome de- velopment that had stalled due to poor market conditions, but has now resumed construction and will convert to rentals.


Commercial • Industrial • Residential

A $4 million bridge loan to the developer of Freehold Commons, a 40,000 s/f office development in Freehold where funds were used to make im- provements to the building’s lobby and entrance. The proj-

HVAC • NETWORK • SOLAR PANEL INSTALLATION • SECURITY • CAMERA • SWIMMING POOL GROUNDING • FIREALARM INSPECTION & INSTALLATION Contact: VINAY SHAH P: 201-488-6088 F: 201-488-6087 Email: shahelec@aol.com 123 Hudson St, Rear Bldg, Hackensack, NJ 07601 Fully Bonded & Insured License #11574

Mid-Year Review

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