A — July 13 - 26, 2012 — Mid Atlantic Real Estate Journal
www.marejournal.com M id A tlantic R eal E state J ournal SunTrust Bank leases office space in Glen Allen, VA New Boston Fund and Rer Equities secure 83,414 s/f G len Allen, VA — New Boston Fund, Inc. and RER Equities, Inc.
announced that they have leased 83,414 s/f of class-A of- fice space to SunTrust Bank, Inc. for its mortgage group at WestMark Two in Glen Allen. New Boston Fund and RER Equities own and man- age WestMark Two in the joint-venture partnership, RER/New Boston West Broad Street LLC. WestMark Two is a five-sto- ry, 204,622 s/f office building situated on a 40-acre busi- ness campus. The property features highly-efficient floor
WestMark Two
$3,470,000 Acquisition Monroeville, PA Rite Aid – Retail 13,000 S/F
$5,850,000 Refinance Philadelphia, PA Multifamily 100 Units
$3,900,000 Acquisition Newark, NJ Garden Apartments 90 Units
$2,360,000 Acquisition Newark, NJ Multifamily 45 Units
plates with raised flooring to complement the building’s flexibility, an emergency back- up power system. SunTrust will occupy 41 percent of the building. “SunTrust was drawn to
WestMark Two due to the quality of the building, the convenient location, ease of ac- cess and its many impressive amenities,” said Bruce Levy, CEO of RER Equities. Jeff Cooke, senior vice presi- dent at Thalhimer, handled the assignment on behalf of the RER/New Boston joint venture. Also from Thalhimer, senior vice president N. Dean Meyer represented SunTrust. “WestMark One and Two are excellent assets in our Mid- Atlantic portfolio, said Pat Shooltz, senior vice president and regional director of New Boston Fund’s Mid-Atlantic region. “We are proud to wel- come SunTust to our tenant roster and provide them with first-class property manage- ment services.” n Industrial Investments signs three leases totaling 63,031 s/f Warminster, PA– Indus- trial Investments signed three leases for a total of 63,031 s/f of industrial and warehouse space at several of its Bucks County rental properties. At the NorthAmerican Tech- nology Center in Warmin- ster, Forest Incentives leased 48,366 s/f of warehouse and distribution space. Jim Scott of Colliers International bro- kered the transaction. At the same complex, Bucks County Electric Works leased 8,000 s/f of warehouse space. Terry Quinn, of Quinn & Wilson Realtors brokered the trans- action. The North American Technology Center and Indus- trial Investments were repre- sented by Robert Bown in both of these transactions. At 431 Pike Rd., Hydra- Matic Packaging leased 6,665 s/f of warehouse space. Chris Prajzner of Blough Realty brokered the transaction. Industrial Investments was represented by Bown in this transaction. n
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RER Equities, Inc. is a private real estate firm focused on the acquisition, asset management and disposition of unique value-added real estate related assets. RER Equities’ investment philosophy employs a strategy that exploits supply-demand imbalances and under-utilized properties to purchase attractive real estate assets at opportunistic prices . The RER investment team is composed of professionals with extensive experience in identifying under- performing real estate assets and optimizing the value of those assets through intensive asset management. This expertise enables the RER team to seek above-average risk adjusted returns for its investors.
For additional information on investment opportunities or to submit an acquisition opportunity, please contact Bruce Levy, CEO. Phone (703) 736-3871 E-Mail - Bruce.Levy@rerfin.com
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