October 2024

This month’s MAREJ brings you the latest in commercial real estate, featuring: 2024 Market Insights: Key trends shaping the industry. Women in Business Spotlight: Honoring top leaders. Capital Markets Conference Preview: A look ahead at major discussions. Sustainability Focus: Green solutions driving change. Stay ahead of the curve with MAREJ!

- DC THE MOST COMPREHENSIVE SOURCE FOR COMMERCIAL REAL ESTATE NEW IN THE REGION

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ISSUE HIGHLIGHTS Volume 36, Issue 10 October 2024

JLL’s Cruz, Neuer, and Robertson represent the seller Prism Capital Partners acquires 33- acre redev. site in Woodland Park, NJ

OODLAND PARK, NJ — Prism Capi- tal Partners has

SPOTLIGHTS

expanded its portfolio with the purchase of a 33-acre former corporate campus in Woodland Park. Located at 385 Rifle Camp Rd., the property is an ideal redevelopment play, with in-place zoning approval for up to 400 multifamily units with a 20% affordable housing set- aside, according to Prism’s Ed- win Cohen , principal partner. JLL team members Jose Cruz, Jeremy Neuer and Ryan Robertson represented the seller; terms of the transaction were not disclosed. “At a time when New Jer- sey is facing a severe housing shortage, we were attracted by the opportunity to repurpose a former suburban corporate campus in an outstanding loca- tion,” Cohen said. “This is an absolutely gorgeous property, and we look forward to its next chapter – one that ultimately will provide Passaic County HARRISON AND KE- ARNY, NJ — NAI James E. Hanson announced the $156.3M sale of a six-property, 48.7-acre industrial outdoor storage (IOS) portfolio lo- cated in Harrison and Kearny, NJ. NAI James E. Hanson’s Scott Perkins, SIOR, CCIM, Christopher Todd, SIOR, and William Ericksen, CCIM represented the buyer,

WOMEN IN BUSINESS

3-11

SOUTHERN NJ

19-24

PROPERTY MANAGEMENT

385 Rifle Camp Rd.

with a significant number of new residences, including a generous affordable housing component.” The property offers sweep- ing views all the way to the Manhattan skyline. Conve- nient to I-80 and routes 46 and 3, the site boasts access to schools, shopping and recre- ation, including 300+ acres of dedicated park space at nearby

Garret Mountain Reservation. Nutley-based Prism Capi- tal Partners has a proven track record of creating value through select real estate in- vestments and developments. The privately held firm is among NJ’s most active and respected developers, target- ing the adaptive re-use and repurposing of excess corpo-

rate facilities and turn-of-the- century industrial buildings, as well as new, ground-up construction. Its recently delivered, award-winning Garden State multifamily properties include Wonder Lofts in Hoboken, The Nell in Dunellen, Avenue & Green in Woodbridge and Edison Lofts in West Orange. MAREJ

34-36

UPCOMING CONFERENCES

NAI James E. Hanson negotiates $156.3M IOS portfolio sale in Harrison and Kearny, NJ Ambient Capital Partners , in the transaction. The portfolio comprises 310

10th Annual NJ Office & Industrial Real Estate & Development Conference October 30, 2024 NJ Retail | Mixed Use Conference November 21, 2024 For speaking & sponsorship info., please contact: Lea at 781-740-2900 or lea@marejournal.com

Manor Ave., 505 Manor Ave., 401 Su- por Ave. and 500 Supor Ave. in Har- rison and 129 Sanford Ave. and 433 Ber- gen Ave. in Kearny. Situ- ated less than 10 miles from Port Newark Elizabeth, the portfolio offers excep- tional region- al connectiv- ity through Rte. 280 and the NJ Tpke. “As a vital component of our increas- ingly complex

Scott Perkins

Directory

Women in Business...................................................3-11 New Jersey..............................................................12-25 People on the Move.....................................................26 Pennsylvania........................................................... 27-28 DelMarVa................................................................ 29-30 Owners, Developers & Managers............................31-40 Financial Digest.......................................................41-43 Retail Development................................................44-45 Business Card Directory...............................................47 CRE Organization’s Events Calendar .............................. 48 www.marej.com

Christopher Todd

Supor Ave. in Harrison aerial

global supply chain, the indus- trial outdoor storage market continues to experience strong institutional demand, especial- ly in supply-constrained areas like northern New Jersey,” said Todd. “The limited availability

of space makes transactions of this scale exceptionally rare, and we were thrilled to collabo- rate closely with our clients to successfully close this complex deal and help them achieve their real estate goals.” MAREJ

William Ericksen

Inside Cover — October 2024 — M id A tlantic Real Estate Journal

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*Potential returns and appreciation are never guaranteed and loss of principal is possible. Please speak with your CPA and attorney for tax and legal advice.*The There is a risk Investors may not receive distributions, along with a risk of loss of principal invested. 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 read the entire Memorandum paying special attention to the risk section prior investing. IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should consult your tax or legal professional for details regarding your situation. This material is not to be construed as tax or legal advice. There are material risks associated with investing in real estate securities including illiquidity, vacancies, general market conditions and competition, lack of operating history, interest rate risks, general risks of owning/operating commercial and multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed. Securities offered through FNEX Capital, member FINRA SIPC.

M id A tlantic Real Estate Journal — October 2024 — 1

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STATEMENT OF OWNERSHIP MANAGEMENT & CIRCULATION(required by 39 U.S.C.3526) Title of Publication: Mid Atlantic Real Estate Journal. 2. Publication No. 22-358. 3. Date of Filing: 10/18/2024. 4. Frequency of Issue: Monthly. 5. No. of Issues Published Annually: 12. 6. Annual Subscription Price: $99.00. 7. Complete mailing address of known office of publication: 117 HMS Halsted Dr. Hingham, MA 02043. 8. Complete mailing address of the headquarters of general business offices of the publisher: Same as above. 9. Full names and complete mailing addresses of publisher, editor and managing editor: Publisher, Linda M. Christman, 117 HMS Halsted Dr, Hingham, MA 02043. Editor: Karen Joy Vachon, 34 Nautical Way, Plymouth, MA. 10. Owner (if the publication is owned by a cor- poration, give the name and address of the corporation immediately followed by the names and addresses of all stockholders owning or holding 1 percent or more of total amount of stock. If not owned by a corporation, give the names and addresses of the individual owners. If owned by a partnership or other unincorporated firm, give its name and address as well as those of each individual owner. If the publication is published by a nonprofit organization, give its name and address). Linda M. Christman, 117 HMS Halsted Dr, Hingham, MA 02043; 11. Known bondholders, mortgagees and other security holders owning or hold- ing 1 percent or more of total amount of bonds, mortgages or other securities. None. 13. Publication title: Mid Atlantic Real Estate Journal. 14. Issue date for circulation data below: 10/16/2024. 15. Extent and nature of circulation. A. Total no. copies (net press run)1416.90, 1338.00. B. Paid and/or requested circulation. 1. Paid/requested outside-county mail subscriptions; 1416.90,1338.00. 2. Paid in-county subscriptions: 0, 0. 3. Sales through dealers and carriers, street vendors, counter sale, and other non-USPS paid distribution: 0, 0. 4. Other classes mailed through the USPS: 0, 0. C. Total paid and/or requested circulation: 1416.90, 1338.00. D. Free distribution by mail: 0, 0. 1. Outside-county: 0, 0. 2. In-county: 0, 0. 3. Other classes mailed through the USPS: 12, 10. E. Free distribution outside the mail: 0, 0. F. Total free distribution: 920, 869. G. Total distribution: 2348.90, 2217. H. Copies not distributed: 124, 10. I. Total: 2348.90, 2217. J. Percent paid and/or requested circulation 60.62%, 60.63%. 16. Publication of Statement of Ownership: 10/16/2024. 17. Signature and title of editor, publisher, business manager or owner: Linda M. Christman, Publisher/CEO.

M id A tlantic Real Estate Journal

M id A tlantic R eal E state J ournal Publisher, Conference Producer ..............Linda Christman VP, Conference Producer .............................Lea Christman Editor/Graphic Artist ......................................Karen Vachon Contributing Columnists ..................Marc Selvitelli, NAIOP Mid Atlantic R eal E state J ournal ~ Published Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal 117 HMS Halsted Dr., Hingham, MA 02043 USPS #22-358 | Vol. 36, Issue 10 Subscription rates: 1 year $99.00, 2 years $148.50, 3 years $247.50 & $4.00 single issue - plus postage REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Phone: 781-740-2900 www.marej.com

Marc Selvitelli

NAIOP Research Foundation Issues Report on Building for Reverse Logistics

ASHINGTON, DC — The pan- demic brought

into sharp focus the impor- tance of having a healthy and functioning supply chain, that critical system by which goods are deliv- ered from factories to door- steps. But how does the pro- cess work in reverse, when items are returned and sent back? And what happens to the returned items? Today, the NAIOP Re- search Foundation released a new report on reverse logistics (RL), “Reverse Lo- gistics Strategies for the Post-pandemic Supply Chain: Spaces and Places to Recapture Value,” which examines the process by which goods flow back from the consumer to the sup- plier. The report identifies best practices in the design of RL networks, including

the design and location of RL facilities. Its findings are useful to supply chain managers, real estate devel- opers and other commercial real estate professionals. “Consumer and industrial product companies are turn- ing to reverse logistics as a ’final frontier‘ where logistical competencies can generate financial success,” according to the report, with the goal of maximizing the remaining value of returned items and minimizing related costs. Key findings: Real estate profession- als can play a pivotal role in identifying suitable RL facility locations that meet supply chain managers’

strategic criteria. Third parties that provide outsourced RL services gen- erally need to be centrally lo- cated relative to the industry they serve, close to industry- preferred modes of transpor- tation, close to the source of product returns, near a suf- ficiently large labor market, and have access to waste management infrastructure. For firms that insource RL, multiple smaller, re- gional facilities may in many cases be more efficient than a single, centralized facility. The decision to locate in- sourced RL processes in a dedicated facility or within a facility that also handles continued on page 42

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Editorial Requirements --Press Release 350-500 words with property photo and broker photos. Expert Articles -- 550 words with author headshot and bio.(author name and title, co. name and location)

M id A tlantic Real Estate Journal — Women in Business — October 2024 — 3

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W omen in B usiness

Heather Kreiger, CCIM; Amy F. Broadhurst; and Kimberly (Kim) Jacobsen Spotlight on Lee & Associates’ Leading Women in Business

Why did you choose the field/profession you are in today? Throughout my career, I’ve been fortunate to have numerous opportunities for growth and learn- ing across various roles, including research, market- ing, operations, sales, and leasing. While I’ve enjoyed every aspect of this business, my passion has always been rooted in research. I thrive on using data and maps to tell compelling stories and provide clients with the insights they need to make informed, data- driven decisions. When the chance arose to join Lee & Associates as their Regional Director of Research, I knew it was the perfect fit. I’ve truly enjoyed being part of a team that shares my commitment to the value of research. What impact has social media/networking had on your business? The real estate industry is fun- damentally about relationships, so making strong connections is essential for success. As real estate professionals, we act as connectors—linking people Heather Kreiger, CCIM Regional Research Director Lee & Associates of Eastern and Western PA Years with company/firm: 1 Years in field: 20 Years in real estate industry: 20 Real estate organizations/affiliations: CCIM (Certified Commercial Investment Member)

Kimberly (Kim) Jacobsen Principal Lee & Associates of Eastern Pennsylvania LLC Years with company/firm: 4 Years in field: +30 Years in real estate industry: +30

Tell us how and when you began your career in the profession you are in: I took an internship with Walmart Realty in graduate school that I knew would expose me to many different parts of the real estate development cycle. From that internship, I knew I wanted to be a real estate broker – which is shocking to think about now, because development from WalMart’s vantage point was pretty cool! I also fell in love with their supply chain arm and all of the warehouses that go with it. My love with their focus on the ever evolving efficiency of that network is really what pushed me down the path of being an industrial broker. How do you manage the work/life balance? By focusing on what is important. It is much easier now because deals are taking longer and there is only so much input we can provide while corporations sift through the external and internal challenges to get to the finish line. Amy F. Broadhurst President Lee & Associates of Western Pennsylvania Years with company/firm: 1.5 Years in field: 15 Years in real estate industry: 15 Real estate organizations/affiliations: SIOR, CCIM

Tell us how and when you began your career in the profession you are in: In 2008, I had been doing real estate development for a design-build merchant developer when development came to a stop due to the Great Recession in 2008/2009. Brian Knowles reached out and said he was putting together an industrial brokerage team to cover eastern Pennsylvania for a previous firm and he wanted me to join him and our partner John Van Buskirk. I wasn’t sure if I could be successful in brokerage, but decided that I needed to take a chance on myself, so I did! Why did you choose the field/profession you are in today? I went into real estate in 1988 after moving to the Philadelphia area after college. I was an econom- ics major in college and was looking for a career path. What was your greatest professional accomplish- ment in 2024? 2024 has been challenging but so far has been good. I have a couple of transactions pending that are set to close and once they are done, they will

continued on page 46

4 — October 2024 — Women in Business — M id A tlantic Real Estate Journal

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W omen in B usiness Office manager at Resource Realty of Northern NJ

Linda Julien on 24 Years of CRE Leadership: “Trust Your Instincts and Lead with Authenticity”

ell us how and when you began your ca - reer in the commer - cial real estate profession: In 2000, I responded to an employment advertisement by applying for a job at a fairly new commercial real estate brokerage firm. No sooner did I get into the car afterward, I got a call that I was be- ing offered the position and thought, “Wow, these people are decisive.” Since then, I’ve been a key part of the firm’s continuous growth and expan- sion. I’ve witnessed firsthand the importance of remaining agile through various eco- nomic cycles that influence commercial real estate. I’ve also been a significant driv - ing force behind the firm’s focus on Northern New Jersey submarkets and have helped shape its expansion into New York state. What are your current responsibilities? As a key member of the Resource Realty team, I oversee the day-to-day operations of our office. My responsibilities span a wide T

and personalities seemed to align perfectly, and I felt a strong connection to the firm’s business philosophy. Now, more than two decades later, I’m celebrating my 25th anniversary with the firm next year. It’s been an incredible journey, and I’m grateful for the opportunities and experiences I’ve had at RRNNJ. I’m glad I trusted my instincts and took that initial leap into the world of commercial real estate. What impact has network - ing had on your business? Networking is crucial for women in business. It pro - vides opportunities to build relationships, gain knowledge and advance our careers. Or - ganizations like CREW NJ, of which I’m an active member, offer invaluable platforms for fostering these connections and professional growth. My involvement in the Morris County Chamber has also in- cluded serving on the Women In Golf Committee for our Nine and Dine Golf Event, which has been a spring- board for building enduring

relationships. Additionally, I have had the opportunity to connect with potential clients. Networking can and does open doors for new opportunities, provides valuable insights and offers support from like- minded professionals. What is the funniest, most unique situation you have experienced during your business career? One of the most memorable and humorous experiences I’ve had happened during a day trip to Boston with my boss. We were heading back to New Jersey after dark and had been on the highway for a while when we started noticing snow. This was quite unexpected, as it didn’t seem like the weather conditions were right for snow in the areas we were traveling through toward home. As it turned out, we had inadvertently taken the wrong route and were head- ing north towards a colder region. Realizing our mis - take, we had to turn around and head back south. It was continued on page 42

Linda Julien Office Manager Resource Realty of Northern NJ Years with company/firm: 24 Years in field: 24 Years in real estate industry: 24 Real estate organizations/affiliations: CREW New Jersey; NJ Licensed Real Estate Salesperson

range, from managing inter- nal processes to supporting our brokers in every step of the leasing and sales process. This includes reviewing deal files, generating and managing commission reports, handling property inquiries, and ensur- ing our accounting systems run smoothly. Beyond these administra- tive-focused tasks, I also play a crucial role in our marketing efforts. My team and I work together to create compelling marketing presentations and promotional materials, and we maintain our firm’s web - site. Additionally, as a notary public, I provide essential

services to facilitate our trans- actions and foster a collabora- tive environment among our brokerage professionals. Why did you choose the field/profession you are in today? When I first inter - viewed at Resource Realty, I wasn’t completely convinced that commercial real estate was the right path for me. I had zero experience in being involved at any level with selling or leasing warehous- es, office buildings or retail centers. However, my initial meeting with Tom Consiglio, the founder and principal of RRNNJ, quickly changed my mind. Our shared work ethic

Resource Realty Northern New Jersey

CONGRATULATIONS TO OUR LEADING EXECUTIVE WOMAN IN BUSINESS

Linda Julien Oce Manager 24 Years in Commercial Real Estate

299 Cherry Hill Road, Suite 202 Parsippany, NJ 07054 www.resource-realty.com | (973) 299-0900|

Today’s leading resource for corporate real estate solutions

M id A tlantic Real Estate Journal — Women in Business — October 2024 — 5

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W omen in B usiness Spotlight on VP’s Jennifer Harrison and Priscilla Teixeira NAI DiLeo-Bram & Co. celebrates trailblazing female business leaders

Jennifer Harrison Vice President

Priscilla Teixeira Vice President NAI DiLeo-Bram & Co. Years with company/firm: 1 Years in field: 20+

NAI DiLeo-Bram & Co. Years with the company/firm: 1 Years in real estate industry: 20+

Real estate organizations/licenses: Material Handling Society of NJ (Board Member/Marketing Committee Chair), IOREBA, CREW NJ; NJ Broker Salesperson license

Real estate organizations/licenses: ICSC, Certified Paralegal (NJ), NJ Real Estate Salesperson license

Why did you choose the field/profession you are in today? I can’t say I chose this field; it was more like I landed in it. My career started as a real estate paralegal in a law firm, where someone saw potential in me and gave me the opportunity to manage commercial properties. The rest, as they say, is history! Fast-forward 20+ years, I’m now focusing on retail leasing and sales transactions with NAI DiLeo-Bram & Co., which I recently joined as a VP. In addition, I’m involved with industrial, office and multifamily investment real estate sales across New Jersey with a concentration on Monmouth County. No two days are the same in this industry. I get to meet all kinds of people, solve complex problems and feel constantly challenged. I love the structure of real estate transactions, but I also enjoy the creative aspects of the job. It’s a perfect blend of order and flexibility. Who or what has been the strongest influence on your career? My career has been greatly influenced by the property owners with whom I worked, especially those early on in my career. I earned their trust and, in return, they gave me the freedom to get involved in a wide range of projects, tap into my creativity and overcome challenges to create opportunities. Their support has been invaluable. In addition, I’ve had the privilege to work for and with an amazing female mentor who was a constant source of guidance and encouragement. I believe that women supporting women is crucial, especially in this business. It’s im- portant for us to offer each other career advice, share our experiences and help continued on page 42

Why did you choose the field/profession you are in today? I chose commercial real estate – and brokerage as a ‘subspecialty’– because it’s in my blood. I believe that real estate often attracts you, not the other way around. In fact, my father introduced me to sales and entrepreneurship through his own mortgage company at the time. He, along my extended family’s entrepreneurial roots, is what ignited my enterprising spirit. From the beginning, I admired the ability of real estate professionals to negotiate transactions, manage properties and create value. As a broker, the dynamic world of property transactions and the opportunity for professional innovation were incredibly inspiring. It was a ‘place’ where I could channel my drive and self-starter ambition while helping others achieve their invest- ment objectives. This combination of passion for business and the limitless opportunities associated with structuring transactions has resulted in an extremely fulfilling career choice for me. Who or what has been the strongest influence on your career? My main motivator throughout my career has been my oldest daughter. As a single mom for 10 years, I was her sole provider. Failure wasn’t an option. When I transitioned to commercial real estate and was informed about the potential for a year or more without an income – because of the nature and life cycle of deals – I became determined to prove that wasn’t going to be the case for me. Through sheer will – and a little bit of luck – I closed my first transaction in six months. That milestone allowed me to take my oldest daughter on our first

continued on page 42

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6 — October 2024 — Women in Business — M id A tlantic Real Estate Journal

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W omen in B usiness

From intern to engineer, shaping six years of ingenuity and mentorship Mika Awai blazes a trail at AKF, empowering the next generation

ell us how and when you began your ca- reer in the profession you are in: I attended Drexel University for Architectural Engineering and was introduced to the over- all building systems relatively early in my college career. Drexel is unique in that they incorporate work experience into the curriculum, so I got my first internship designing mechanical building systems at an MEP firm in 2018. I was lucky enough to find this field and take interest in this industry, so I set out to find other internships that had a T

go through the same process I did while I was in school, and I want to be able to provide insight into what this industry has to offer to better prepare them for their career choices. Why did you choose the field/profession you are in today? I chose my profession not only because I find it interesting, but because it adapts to changes as the world advances. This industry allows me to experi- ence a wide range of projects in various locations, and with that provides a balance of tech- nical challenges and creative freedom to design and problem

solve. Most importantly, the type of work I do has a lasting impact on the world, where multiple generations will be able to see or use the build- ings that I have helped come to fruition. How do you manage the work/life balance? One thing I have learned is the importance of work/life balance. Times have changed, technology has advanced, and many workplaces have adopted the hybrid work schedule. While there are many benefits to this, I’ll be the first to admit that working from home can blur the line between what is work and what is home. I’ve learned the importance of when to take a break and step away from work, as it provides the small refresh needed to complete a task. In addition to balancing my work from home environment, I am learning to take time for myself and pri- oritizing what I call “me time”, which includes relaxing, enjoy- ing hobbies, exercise, etc. I am still working to find the ideal work/life balance, and although it is challenging, I believe that finding and keeping this bal - ance is essential to having a successful life. Who or what has been the strongest influence on your career? While it may sound cliché, I owe a lot of thanks to my parents. They have had a huge impact on my career, and I am very fortunate to have them as influences and support. And while they may not know this, they have taught me many things that have helped guide me through my career by teach- ing me to be confident, inde - pendent, and self-sufficient. They have always helped me recognize my strengths and weaknesses, pushed me to build on my strengths and work on my weaknesses, and one im- portant thing I often forget is knowing that it’s okay to make mistakes. As someone who regularly strives for perfection it is easy to forget that success doesn’t happen overnight, and yes, I am frequently reminded that I need to be patient. My parents never let me forget the importance of respect, hard work, confidence, and again patience, and as much as I don’t want to admit it, they are right. What unique qualities and or personality do you feel makes you most successful in your profession? continued on page 42

Mika Awai Mechanical Engineer AKF, Member of WSP Years with company/firm: 5 Years in field: 6 focus on mechanical building systems. In 2019 I applied to be an intern here at AKF and have been here ever since. What is your current position? I currently work as a me- chanical engineer. This po-

sition includes an array of tasks from equipment sizing and selections to building sys- tem design and integration. I also help train and teach the mechanical interns from Drexel University, which is important to me because they

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M id A tlantic Real Estate Journal — Women in Business — October 2024 — 7

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W omen in B usiness Melanie Rogacki and Courtney Rosenkrantz CREW New Jersey Honors Leading Women In Business

Melanie Rogacki Director of Resource Management Partner Engineering and Science, Inc. Years with the company/firm: 11 Years in field: 20 Years in real estate industry: 18 Real estate organizations: CREW New Jersey

Courtney Rosenkrantz Director

Cushman & Wakefield Years with company/firm: 3 Years in field: 8 Years in real estate industry: 8 Real estate organizations: CREW New Jersey

What is your current position? I am the Director of Resource Management at Partner Engineering and Science, Inc. I am responsible for the recruiting, onboarding and management of our national and international subcontractor pool, both individuals and companies, that support our due diligence and solutions services. I also manage our internal scheduling team, which pairs assessors with projects. Why did you choose the field/profession you are in today? I took a very winding road to get where I am today, so my field sort of chose me. My degree is in Natural Resource Management because I thought, like so many others, that I was going to “save the world.” I ended up writing for a small magazine right out of college, and eventually found my way to the Asbury Park Press, where I worked my way up from paginator, to reporter, to an editor of several weekly sections. Eventually, a role at the New Jersey Department of Environmental Protection Communications department presented itself, and I worked there for two years. When I was laid off from that role, I finally landed in environmental consulting, where I put both my writing skills and love of research to good use. I worked my way up from assessor to project management, and finally into the role that I currently hold today. How do you manage the work/life balance? I have learned over time that neither work nor home can ever be perfectly in balance. Sometimes, ok most times, there will be dishes in the sink, not enough food in the fridge, and calls to parents to help shuttle kids to afterschool activities. continued on page 42

Tell us how and when you began your career in the profession you are in: I’ve always been fascinated with real estate and how, whether residential or com- mercial, it can transform a community. Even at 5 years old I was browsing the local houses for sale. While I love looking at houses, selling them is not for me. In college, I studied real estate finance and learned more about commercial real estate brokerage. After I graduated college, I met my previous employer through mutual connections and decided I’d give commercial real estate a try. I’ve never looked back! What is your current position? I am a commercial real estate advisor who specializes in helping occupiers of real estate with acquisitions & dispositions of real property nationally & locally. I also specialize in helping property owners fill their buildings with quality ten - ants. Most of my clients are owners and/or occupiers of office or warehouse space. Who or what has been the strongest influence on your career? I would say my stepdad and my mom have been my biggest influences. My stepdad is no longer with us, but my love of real estate came from him. My mom is my biggest supporter & I’m grateful to be able to turn to her when things get tough. I’m also very grateful for the mentors I have within the industry who guide me and help me grow. What unique qualities and or personality do you feel makes you most successful in your profession? Acting with integrity, thinking outside of the box, and being solution-based.

continued on page 42

It’s a Great Time to Join Come connect with the New Jersey chapter of Commercial Real Estate Women (CREW) Network. With 80 chapters across the globe, our 14,000+ members represent over 70 disciplines in the CRE industry. Benefits of joining include: • Access to the global resources of CREW Network and CREWBiz to exchange resources, business leads and expertise • Opportunities for premier industry and leadership development, scholarships, internships and mentoring • Options to give back to the community through charitable programs • Professional and personal connections and relationships that can last a lifetime! We are dedicated to transforming the commercial real estate industry globally through the advancement of women in the field. Come be a part of it TODAY!

To register for events: Email crewnj@crewnj.org or call 973.250.4614

For more information, visit our website at www.crewnj.org or follow us on LinkedIn, Instagram, Facebook and Flickr

8 — October 2024 — Women in Business — M id A tlantic Real Estate Journal

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W omen in B usiness President of The Community Preservation Corporation Sadie McKeown on affordable housing, climate change, and empowering communities

ell us how and when you began your career in the profession you are in . I joined CPC in 1991 as an intern while in gradu- ate school studying Hu- man Service Administra- tion with a focus on hous- ing. I became interested in housing when I was volunteering in homeless shelters. I graduated from Fordham in the Bronx in 1986 and was motivated to do my part to support solutions to social prob- lems. CPC was a great organization because it married my deep interest and commitment with my business skills. I have al- ways believed that blend- ing private capital with public subsidy is the best way to scale solutions. What is your current position? I am the President of CPC. I oversee our Construction Lending, all of our Initia- tives, and our recently cre- ated CPC Climate Capital. Why did you choose the field/profession you are in today? I wanted to do my part T

and homelessness. I think about him all the time. W hat unique quali- ties and or personality do you feel makes you most successful in your profession? I am very driven and competitive, but I am also empathetic. I also have an excess of executive function. Do you feel being a woman is an advan- tage, disadvantage or no advantage in today’s business world? Why? Why not? I believe that being a successful woman is an ad- vantage in what is largely a business that is mostly men, especially at the ex- ecutive level. If you can fit in, excel and build your own brand, it’s easy to stand out and get noticed.

have helped me build and develop relationships in what is still largely a male- dominated industry. Who do you feel was most influential in your life when choosing this profession? My father was a very successful businessman and inspired me to work hard and have fun doing what you do. I have had an enormous amount of fun at CPC with an in- credible team of dedicated people over the last three- plus decades. What outside activi- ties do you enjoy dur- ing your free time? Pickleball and golf! What inspiring words of advice would you give to a young woman about to go into the field of commercial real estate or your allied field? It is a business about people. Master the people and you will master the work. And always try to put yourself in the shoes of the other person and hear the message you are deliver- ing from their perspective. MAREJ

Sadie McKeown President The Community Preservation Corporation

Years with company/firm: 33 Years in field: 34 Years in real estate industry: 34 Real estate organizations/affiliations: New York State HFA Board

to address the homeless problem in New York City and State. What was your great- est professional accom- plishment in 2024? CPC is a coalition part- ner with Climate United, we were awarded a $7 billion grant in the EPA’s Greenhouse Gas Reduction Fund, $2.42 billion will come to our new subsid- iary, CPC Climate Capital to support decarbonization in affordable and multi- family housing. How do you manage the work/life balance? I put myself into the mo- ment I am in, so when I am working I am focused

and dedicated. The same is true for my family and my friends. When I am with them I am focused on them. I also make sure to stay ac- tive and healthy. Who or what has been the strongest influence on your career?

Do you feel there are any differences in the way that men and wom- en develop business rela- tionships and if so, what activities or venues do you participate in? I play golf and basket- ball with men, I can talk sports, and I am not shy. These are all things that A formerly homeless volunteer in the shelter I worked in showed me how hard it is to get out of home- lessness and how critical having a stable apartment can be to recovery and sanity. A person cannot be successful without a home. He was a Vietnam vet- eran and he deserved the support he got to recover from his PTSD, addiction, Order your Women In Business plaque TODAY! Options: Wood, HD Metal Black & Lucinda Premium

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M id A tlantic Real Estate Journal — Women in Business — October 2024 — 9

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W omen in B usiness

For 50 years, CPC has been meeting the unique financing needs of multifamily owners. As a nonprofit lender and investor, we specialize in sustainable, affordable and workforce housing, and offer our customers a full suite of construction, bridge and permanent mortgage products —as well as the opportunity to invest alongside us as equity partners in the long-term ownership of multifamily housing. more affordable, sustainable and equitable communities. Financing housing that creates

$15+ billion invested

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Carbon Neutral Since 2020

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10 — October 2024 — Women in Business — M id A tlantic Real Estate Journal

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W omen in B usiness

Denholtz Properties appoints Kurtz as CEO

LLENTOWN, PA — Feinberg Real Es- tate Advisors, LLC A The James Balliet Property Group reps. Kana Realty Feinberg Real Estate Advisors’ Keller brokers 1,753 s/f lease

RED BANK, NJ — Den- holtz Properties an- nounced that Katie Kurtz

through our evolution over the past four decades,” said Steven Denholtz. “As we look to the future, we are confi - dent that Katie’s extensive experience and leadership will guide us in building upon our legacy while seiz- ing new opportunities for sustained growth.” Stephen Cassidy added, “Over the years, Steven and I have built a company that maximizes investor returns by assembling an entrepreneurial team adept at navigating ever- changing property and capital markets. As we enter what we believe is the next commer- cial real estate growth cycle, Katie’s institutional expertise will be crucial in advancing our business model and accelerat- ing our growth trajectory.” As chairman, Steven Denholtz will leverage his significant ex - perience to shape the firm’s stra - tegic vision while collaborating closely with the executive team to identify growth opportunities. In his new role as managing partner, Cassidy will focus on guiding the firm’s capital mar - kets and fundraising operations as it expands and diversifies its $2B portfolio of assets under management. MAREJ

has been n a m e d CEO. Ste- ven Den- holtz , the firm’s pre- vious CEO, will assume the role of chairman

announced that it rep- resented the tenant, Pi- lates Studio 2 US LLC, on the lease of its 1,753 s/f retail build- ing located

Katie Kurtz

and Stephen Cassidy , cur- rent president, will serve as managing partner. Kurtz brings extensive institutional real estate experience to her new role as chief executive officer. In this role, she will oversee the strategic refinement of Denholtz Properties’ opera- tional platform to capitalize on emerging commercial real estate investment op- portunities nationwide. Kurtz, who previously served as co-chief invest- ment officer and CFO for Sil - verstein Properties, brings over 20 years of institutional real estate, capital markets and investment experience to her new role as CEO. “It has been my honor to lead Denholtz Properties

Casey Keller

Crest Plaza Shopping Center

at 1500 N Cedar Crest Blvd., Allentown, Lehigh County. The property is a great central location within Allentown that will provide access to a world- renowned Club Pilates Studio. Casey Keller of Feinberg Real Estate Advisors, LLC represented Pilates Studio 2 US LLC on the lease at the Crest Plaza Shopping Center on Cedar Crest Boulevard in South Whitehall Twp. The landlord, Kana Realty Corp, was represented by James Balliet of The James Balliet Property Group . “We are so excited to share that our newest location of Club Pilates in the South White- hall area is coming soon! This achievement would not have been possible without the in- credible support and expertise

of Casey and her team. From start to finish, Casey guided us through the entire process with knowledge and dedication, mak- ing everything run smoothly,” said Cristina Craciun, owner. “It was a pleasure to work with Cristina on the search for her Club Pilates Studio in South Whitehall Township,” said Casey Keller, “The location in a busy corridor with high traffic counts and strong demograph- ics provides a perfect location for this unique fitness business. We look forward to celebrating the opening of the business in early 2025.” About Club Pilates – With 1,000 studios across the globe, spanning 4 continents, Club Pilates is the largest Pilates brand and studio network

worldwide. Ranked in Entre- preneur Magazine’s Franchise 500 List eight years running and Inc. Magazine’s Inc. 5000 list multiple years, Club Pilates leads the Pilates industry in providing everybody with the opportunity to experience the benefits of Pilates. The Franchisee that will be leasing the space opened their first studio in Wyomissing about a year ago and quickly ranked among the top 10 stu- dios nationwide. Since their opening, they have shattered all previous franchise records and expanded their operations by acquiring three additional territories. They look forward to bringing the amazing Club Pilates experience to South Whitehall. MAREJ

Barley Snyder welcomes attorney Rebecca Shanaman to York Office

Stein and Desai of Vantage CRE represents seller in sale of +/- 6,000 s/f building in Swedesboro, New Jersey

and strategic representation of their clients, and I am excited to join such a well-respected, dominant firm in the region,” said Shanaman. “I believe Barley is a place where I can use my results-oriented expe- rience in real estate and busi- ness to help clients achieve their goals.” Before joining Barley Sny- der, Shanaman was a share- holder in a mid-size law firm in York. Active in her com- munity, she currently serves on the board of directors for Bell Socialization, Margaret E. Moul Home Foundation, York County Bar Foundation and Braided River Collective. She received her undergrad- uate degree from LaSalle University and her law de- gree from Loyola University Chicago School of Law. “We are thrilled to wel- come Rebecca to the firm,” said partner Stacey MacNeal based in the York office. “She brings not only a strong legal background but also a com- mitment to both client and community service which aligns with our values and practice style.” MAREJ

YORK, PA — Barley Snyder announced attorney Rebecca M. Shanaman has recently joined the firm in its York office. She brings extensive experience to Barley Snyder in the areas of real estate and business. In her real estate practice, Shanaman represents buy- ers and sellers in all aspects of commercial real estate transactions. She is well- versed in negotiating and drafting leases and navigat- ing complex leasing matters. She also assists real estate developers in all stages of development. In addition, Shanaman helps bar and restaurant owners with the purchase, sale, and transfer of liquor licenses. In her busi- ness practice, she represents small to midsize businesses, often serving in an outside general counsel capacity. “I have long been impressed with Barley Snyder’s efficient Rebecca Shanaman

SWEDESBORO, NJ — Vantage Commercial an- nounced the sale of a +/- 6,000

s/f free- s t and i n g building lo- cated at 538 Beckett Rd., Swedesboro. Emily Stein , managing di- rector, and Raki De- sai , advisor at Vantage Commercial, expertly rep- resented the seller, and se- cured a favor- able outcome for their client.

Emily Stein

538 Beckett Rd.

understanding of the regional market continue to solidify its reputation as a trusted part- ner in commercial real estate transactions across the region. About Vantage Commercial: Headquartered in Cherry Hill, NJ and Philadelphia, PA, Vantage Commercial is a full-service commercial real estate brokerage and advi- sory firm serving New Jersey, Philadelphia, and Eastern Pennsylvania. MAREJ

ties, ensuring that both sellers and buyers meet their real estate objectives. “We are delighted to have facilitated the sale of this prime property,” said Stein. “The building’s location and adaptability made it a sought- after asset, and we are eager to see how the buyer will re- purpose the space to benefit the local area.” Vantage Commercial’s client- centered approach and deep

Raki Desai

The building, strategically positioned in a thriving area of Swedesboro, was sold to a buyer who plans to repurpose the space, adding new value to the community. The successful transaction highlights Van- tage Commercial’s proficiency in marketing and negotiating the sale of commercial proper-

M id A tlantic Real Estate Journal — Women in Business — October 2024 — 11

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W omen in B usiness Philadelphia’s largest minority-owned furniture dealer & top MWBE MillerKnoll dealer

Amanda Chevalier drives growth and innovation at CFI Workspace

tending my sons’ games, events, and college visits. In my down- time, I enjoy playing the piano, reading, and spending quality time with my girlfriends. What advice would you give to a young woman starting in commercial real estate or a related field? Be curious and listen more than you speak. Build authentic relationships and treat others with kindness and respect. Savor the jour- ney because time flies faster than you realize. In this field, you have the chance to cre- ate environments that shape

how people live and work— embrace that opportunity. How do you see your role as a leader in shaping the culture at CFI Workspace? Leadership is about setting a vision and creating a space where everyone feels empow- ered to contribute. At CFI, we have built a culture of team- work, innovation, diversity and integrity. My goal is to ensure our team supports each other. We practice what we preach in our own inclusive workspace through thoughtful design that balances collaboration continued on page 42

ell us how you began your career in your field and how your goals have evolved over time. After two years in Man- hattan’s fast-paced hospitality industry, I moved back to Phila- delphia to be closer to home and joined our family business. I started in the materials and product library before every- thing transitioned to a digital format. This entry-level role provided a valuable introduc- tion to the commercial furniture industry and its products. I quickly discovered the excite- ment of creating environments that make a real difference in people’s lives. This transition allowed me to grow profession- ally while staying true to my belief in work-life balance. Who or what has had the strongest influence on your career? My father, who started in the business in the 1980s, was an early advocate for wom- en in the workplace, long before it was a mainstream topic. His approach— one that centered around integrity, hard work, and supporting others—shaped my outlook from a young age. He inspired me to push bound- aries and focus on creating inclusive work environments where everyone feels empow- ered. We’re now the largest minority and women-owned furniture dealership in the Philadelphia region, and the largest MWBE MillerKnoll dealer in the country. What unique qualities make you most successful in your profession, and what challenges have you faced along the way? Integrity is central to my decision-making and a key factor in my suc- cess. One challenge I’ve faced is being naturally introverted in an industry where building strong connections is essential. Networking and social engage- ment can be draining. Over the years, I’ve learned to create space to recharge and balance my energy, which has deepened my understanding and support of different work styles. What has been your great- est professional accom- plishment and most notable project? One of my greatest ac- complishments was navigating a business acquisition in 2022. The process was complex, but it positioned our team for long- term growth. Also, I’m par- ticularly proud of transforming our Market Street office into a dynamic showroom for health-

Amanda Chevalier President CFI Workspace Years with company/firm: 23 care and higher education. It’s a space where clients can experience firsthand how our products support a range of needs, from creating spaces where people heal, like hospi- tal rooms, to respite spaces for

employees to unwind. What do you enjoy doing outside of work? I’m passion- ate about food—exploring the origins of different cuisines and learning about various cultures and traditions. I also love at-

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