www.marejournal.com S HOPPING C ENTERS N EW J ERSEY S PO LIGHT S OUTHERN 74-units on the campus of The Catholic Church of St. Mary Stanker & Galetto begins construction of $10 million Cherry Hill senior residence C HERRY HILL, NJ — Stanker & Galetto, a general contracting
Mid A TLANTIC R EAL Estate Journal — New Jersey — July 13 - 26, 2012 — 7B
firm in southern New Jersey, started construction of a $10 million, 74-unit senior resi- dence on the campus of The Catholic Church of St. Mary in Cherry Hill. The project, backed by a housing assistance grant by the US Department of Housing and Urban Develop- ment (HUD), is expected to be completed in August 2013. The three-story, 60,000 s/f project, known as Benedict’s Place, is being co-sponsored by Catholic Charities of the Diocese of Camden. When finished, Benedict’s Place will feature 73 one-bedroom apart- ments for the elderly on 4.3 acres located along St. Mary’s Drive in Cherry Hill. There will also be an apartment for the manager of the complex. “The design of Benedict’s Place ensures that the units MOUNT LAUREL, NJ — Keystone Property Group, a real estate developer, man- ager and investor of office and industrial properties has secured a 72,500 s/f lease ex- tension and expansion with Comcast at the Executive Park at East Gate, located at 112 West Park Dr. in Mt. Laurel. Comcast, one of the nation’s largest cable operator and home Internet service provid- ers, is headquartered in Phila- delphia, PA, and is expanding its research and development operations in Mt. Laurel. CBRE executive vice president Jon Sarkisian, vice president Brian Saggiomo and senior associate Anthony LiVechhi represented Keystone, while Binswanger senior vice presi- dents Marc Policarpo and Robert Corr represented the tenant in the transaction. As a result of Comcast’s lease renewal and expansion, the building is now100 percent leased. Currently Harleysville
are easily accessible and can accommodate the special needs of seniors,” said Peter Galetto, CEO of Stanker & Galetto. The permitting process for the project took more than a year. Final surveying prior to
clearing the land for construc- tion began in early June, said Rob Yood, senior project man- ager at Stanker and Galetto. The whole project is expected to take about 15 months to complete.
Benedict’s Place will offer se- niors all the accommodations needed for independent living including a community room, a kitchen, personal laundry facilities, and a lobby for so- cializing, Yood said.
“The goal was to position Benedict’s Place within the St. Mary’s campus and adjacent to existing nursing and as- sisted living facilities for easy access to health care,” Galetto said. ■
CBRE represents Keystone Property Group in 72,500 s/f lease extension and expansion with Comcast in Mt. Laurel
previously vacant data center purchased by Keystone more than six years ago. Shortly after acquiring the facility, Keystone repositioned the property into high-quality office building via an exten- sive capital improvement program that was completed in 2007. The renovations included a new façade and roof, all new mechanical and HVAC systems, new interior finishes with an attractively refurbished lobby entrance, prominent individual entranc- es for multiple tenants, a new glass and glazing systemwith increased window lines, and ADA compliant bathrooms. Additional parking was also created. The building is located near exit 4 off of the New Jersey Turnpike, Interstate 295, Route 38 and Route 73. It is also in close proximity to a host of area amenities, includ- ing hotels and restaurants, and is just minutes away from the Moorestown Mall. ■
Executive Park at East Gate
Insurance, a subsidiary of Na- tionwide Insurance, is also a tenant at the building. “Comcast already occupied 44,000 square feet at Execu- tive Park and needed a sig- nificant amount of expansion space to support its growing
operations,” said Bill Glazer, president of Keystone Prop- erty Group. “This building is situated at the confluence of four major highways and is ideal for the company’s exist- ing and future needs. The added space was a natural fit
for Comcast’s organic growth and we are extremely pleased to be able to accommodate the company’s space requirements while bringing the building to full occupancy.” The 114,000 s/f Executive Park at East Gate was a
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