4-26-13

R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news

ISSUE HIGHLIGHTS Volume 25 Issue 6 April 26 - May 9, 2013 Services & Suppliers Spotlight

Loan was placed with a CMBS lender on a 10 year term Turley & Proscia of Cronheim secures $10.3 million for King Of Prussia Mob

K

ing of Prussia, PA — David Turley and Janet Proscia

from application signing. The property is a brick-clad Federal-style office building located at the intersection of South Gulph Road and South Henderson Road in southern King of Prussia. It sits at the bottom of the exit ramp from a brand new interchange of the Schuylkill Expressway. The Property was originally built in 1946 as a schoolhouse and converted to medical office use in 2000. It is 82% occupied by nine tenants and anchored by a regional spine/orthopedic practice, a regional hand re- habilitation/therapy practice and private wealth manage- ment firm. n

of Cronheim Mortgage se- cured $10.3 million in financ- ing for a 74,326 s/f medical office building located just off the Schuylkill Expressway in King of Prussia. The loan was placed with a CMBS lender on a 10 year term with a 30 year amortization schedule. The client, a major Philly- based developer, had an up- coming loan maturity that required an expedited closing. In spite of losing a 5,000 s/f tenant during the Application process, Cronheim was able to get the loan closed in 45 days

10-14A Shopping Centers

Marzullo and Marlowe of CBRE’s Phila. Private Capital Group rep. seller Rockford Capital Partners acquires $7.7 million Wyomissing, PA office portfolio

Section B

Spring Preview

Wyomissing, PA — Rock- ford Capital Partners , based in Wilmington, DE announced the acquisition of 1105 Berkshire Blvd and 1150 Berkshire Blvd inWyomissing for $7.7 million, on behalf of its Rockford Real Estate Fund I . The class A suburban office buildings were acquired from Berkshire Office Partners, LP. Steve Marzullo and Jus- tinMarlowe, of CBRE’s Phil- adelphia Private Capital

Mid Atlantic R eal e state J ouRnal S pring p review

MidAtlantic RealEstateJournal—April26-May9,2013—SectionC

www.marejournal.com

RalphAnderson

ScottButler

ChrisCervelli

MariaDeGennaro

TraceyGoldstein

GaryGordon

BrennerGreen

MarkHasting

DavidHirschman

RobertHolland

EdHutchinson

StephenKarlbelk

CarolKeith

DavidMorrison

MindyLissner

BrendanScanlon

WilliamWaxman

BrianWhitmer

AmyNazdrowicz

DianeSchaefer

InsIde: 1031EXCHANGE DianeSchaefer,exchangeSolutionS..........................................................................ic-c ATTORNEY Scottc.Butler,eSquire,KaplinStewart....................................................................2c AUCTIONEER StephenKarlBelK,cai,aare,ameriBiD............................................................................3c COMMERCIALMORTGAGES Brennergreen,realpropertycapital, inc................................................................5c COMMERCIALREALESTATEATTORNEY garygorDon&traceygolDStein,feinStein,raiSS,Kelin& BooKer,l.l.c......4c DELAWAREBROKER DaviDr.morriSon,naiemoryhill.....................................................................................6c ENGINEERING&SURvEYING Stout&calDwell..................................................................................................................13c ENvIRONMENTALCONSULTING marKhaSting,hillmannconSulting..............................................................................20c FINANCING BrenDanh.Scanlon,northmarqcapital......................................................................7c

LANDSURvEYINGANDENGINEERING amynazDrowicz,lanDmarKScience&engineering..................................................8c LOANSpECIALIST regalBanK................................................................................................................................11c MECHANICALSERvICES eDhutchinSon,hutchinSonmechanicalServiceS....................................................9c MULTIFAMILY roBerthollanD,theKiSlaKcompany, inc...................................................................12c NEW JERSEY INDUSTRIALMARKET williamr.waxmananDminDyliSSner,cBre................................................................14c OFFICEETIQUETTE carola.Keith,puzzle2purpoSe,llc.............................................................................16c pROpERTYMANAGEMENT chriScervelli,michaelcervellirealeState...........................................................15c RENTRECEIvER DaviDhirSchman,DaviDhirSchmanrealtycompany...............................................17c SOUTHERNNEWJERSEYBROKER Brian J.whitmer,ccim,cuShman&waKefielDofnJ,inc........................................18c TAXSERvICES mariaDegennaro&ralphanDerSon,thegreengroup.......................................10c

Section C

Directory

Upcoming Spotlight Industrial/Distribution Centers Owners, Developers & Managers.... 5-16A Green Buildings............................. 17-20A Sales & Leases............................... 24-25A Shopping Centers................... Section B Spring Preview....................... Section C

1105 Berkshire Blvd.

Group , represented the seller and brokered the transaction. The two building portfolio is anchored by Travelers Insur- ance, which occupies more than 80% of 1105 Berkshire. The properties, totaling more than 96,000 s/f, provide a stable existing tenant base

coupled with value-add op- portunity through targeted capital improvements and lease-up of vacant space. Rockford Capital has been actively growing through various acquisitions in the mid-Atlantic over the past two years. This transaction

marks the final investment for Rockford’s current value- added fund. Rockford Capi- tal is a private real estate firm focused on acquiring and managing value-oriented and opportunistic real estate in- vestments in the mid-Atlantic region. n

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