ISELIN, N.J., March 31, 2010 – The Industrial and Office Brokers Association of the New York Metropolitan Area (IOREBA) accepted five new associate members from various financial companies. With roots dating back to 1927, IOREBA is one of the nation’s largest regional commercial real estate groups; its more than 300 members conduct business in New Jersey, New York, Pennsylvania and Connecticut.
 
“Finance and real estate go hand in hand, and it is always great to put our existing members in touch with new financing professional members,” stated Charles Logan Jr., president of IOREBA and chief executive officer for The Aztec Corporation. “Our monthly meetings are well attended, which make for great networking and potential business opportunities. It is also a great time to talk about the status of the economy, how each company has weathered the storm and where the opportunities might be.”
 
“I have been a guest speaker at one of IOREBA’s events and have seen how valuable the membership is,” said Phil Romano, vice president at Investors Savings Bank. “Some of the members encouraged me to join, and it has been very helpful with my business.”
 
As social media is changing the way companies do business, last year IOREBA established a LinkedIn group for members to continue to network outside of events. In fact, new member Shergoh Alkilani first found out about IOREBA through the site.
 
“I noticed a contact of mine was in the IOREBA group on LinkedIn,” noted Alkilani. “I viewed IOREBA’s group page, and was very impressed by the members, so I applied to become a member the next day.”
 
Like all IOREBA members, the latest additions participated in a rigorous approval process before they were accepted. They include:
 
·        Shergoh Alkilani, principal at The Alkova Companies in Alpine, N.J.;
·        Steven Goldstein, property manager at Cantor Companies in Linden, N.J.;
·        Deborah Nexon, originator at G.S. Wilcox & Co. in Morristown, N.J.;
·        Phil Romano, first vice president at Investors Savings Bank in Short Hills, N.J.;
·        Ryan Greer, mortgage broker with Meridian Capital Group, LLC in Iselin, N.J.
 
IOREBA recently introduced a flexible fee schedule and lower pricing for events, to ensure members can still afford to attend in a struggling economy. Members also have the value-added benefit of exposure in the “Members” section of www.ioreba.com. Company listings, headshots and bios of each member are featured there. Members can also post company press releases in a recently established Member News section. Both of these areas can be viewed by all visitors to the Web site.
 

MORRISTOWN, N.J., March 30, 2010 – Cushman & Wakefield, Inc. has promoted Jon Williams of Morristown to the position of associate director, announced Gualberto “Gil” Medina, the firm’s New Jersey executive managing director. Williams, who specializes in office leasing, joined the commercial real estate services firm’s Morristown office in 2007 as a sales associate and participant in its Junior Executive in Training (JET) program.
 
JET hires have zero to five years’ experience in the industry yet are trained over several years to be full-service real estate advisors. Williams’ promotion marks his successful completion of the program. A specialist in tenant representation, Williams represents firms in the accounting, financial, insurance, legal, and technology industries. In 2009 alone, he completed 19 tenant transactions with an aggregate total over 300,000 square feet. 
 
“Jon provides an excellent illustration of how our JET program is creating all-around real estate strategists,” Medina noted. “He is deeply knowledgeable about the inner workings of lease transactions, local markets and his clients’ businesses. During the past two-plus years, Jon has emerged as a valuable contributor to our Morristown office. His promotion is well deserved.”
 
Prior to joining Cushman & Wakefield, Williams was an associate for WCB. He launched his career as a project manager for InterState Electrical Contracting Inc. before joining the real estate industry.
 
Williams earned a bachelor’s degree in economics from Villanova University and is the Co-Founder as well as the Co-President of the Morris/Somerset County Villanova Alumni Chapter. He is also pursuing his master’s degree from the Real Institute at New York University. The comprehensive curriculum covered in the NYU program includes economics, market analysis, valuation, finance and investment, law and taxation.  

PELHAM MANOR, N.Y., Oct. 22, 2009 – Modell’s, the nation’s oldest family-owned and operated sporting goods retailer, has re-opened at Post Road Plaza in Pelham Manor, in its new, two-story space, announced retail real estate services firm Levin Management Corporation, the property’s exclusive leasing and managing agent. The 268,000-square-foot shopping center is in the midst of a major repositioning, retenanting and renovation that is introducing a 75,000-square-foot Fairway Market as its new anchor, developing a value-oriented retail mix, and incorporating a modern look and feel.

The expanded Modell’s store anchors Post Road Plaza at its Pelham Parkway entrance. It features 22,000 square feet of space, a large portion of which is on the property’s second floor. Founded in 1889, Modell’s carries sporting goods, sporting apparel, menswear and brand-name athletic footwear. The company operates more than 140 stores throughout the northeast and mid-Atlantic states.

‚ÄúAs a long-time tenant at Post Road Plaza, Modell‚Äôs is an important part of this neighborhood‚Äôs past and future,‚Äù said Matthew K. Harding, Levin‚Äôs president and chief operating officer. ‚ÄúOne of our foremost goals for the repositioning of Post Road Plaza involved strengthening the property‚Äôs tenant mix to hold its position as the dominant center within what is becoming a vital retail area. Keeping Modell’s was a major part of our strategy.‚Äù

“All of Post Road Plaza’s existing tenants chose to stay, and many are renovating or expanding,” he added. “Additionally, we have added and will continue to add new retailers, to enhance the center’s diversity and appeal.”

Other Post Road Plaza tenants include A.J. Wright, Dress Barn, Mandee, a Citibank branch, Hallmark, GNC and OTB. In addition to the introduction of Fairway Market – which will be the largest grocery store for miles – Marshalls Shoe Megashop recently opened a new location at the property. Levin also is negotiating with several additional potential tenants.

“We still are marketing a prime first-floor unit adjacent to Fairway Market,” noted Levin’s Barry Greenberg, who heads the leasing team for Post Road Plaza. “We also have other space available on the second floor. Interest remains strong – the retailers we are working with recognize the appeal of the center’s location and demographics.”

Located at the intersection of Pelham Parkway and Boston Post Road (US 1), Post Road Plaza sits just a few yards from the Hutchinson River Parkway. The population within three miles is 388,937, blossoming to 1,086,014 within five miles. Some 115,000 vehicles per day pass the property. Average household income within a mile is $86,508, projected to rise 13.5 percent, to $98,209, by 2013.

The renovation at Post Road Plaza is nearing completion. It features new façades to create a post-industrial feel. New lighting, paving, and landscaping round out the new look, and the second floor of the structure is being reconfigured for new tenants as well. Post Road Plaza includes an innovative, highly visible signage program as part of the renovation.

LAKEWOOD, N.J., Oct. 22, 2009 – Diversified Capital, Inc. has signed Digestive Health Management (DHM) to a long-term lease for 12,000 square feet at its 7610 Stemmons Freeway building in Dallas, Texas. The seven-year lease marks a relocation within the Stemmons submarket and an increase in space for DHM, and accounts for two-thirds of the third floor at the six-story, 128,000-square-foot corporate office building.

“Digestive Health Management initially approached us to lease space at Diversified Capital’s 1111 W. Mockingbird building, but decided that the space at 7610 Stemmons better suited their needs,” said Bruce Stern, principal of Red River Asset Management, the owner’s representative for the building. “They had a particular need for raised-floor data center space and 7610 Stemmons was already built-out for that.

“It’s part of Diversified Capital’s philosophy to be pro-active and ensure a location works best for the tenant,” Stern said. “In addition to the space meeting their requirements, we fine-tuned a lease that met their financial needs, including a period of free rent and a moving allowance. We were able to make their move as seamless as possible.”

The transaction also involved close cooperation between the leasing teams for 1111 West Mockingbird and 7610 Stemmons Freeway. “Everyone worked together in a tight timeframe,” Stern said.

Digestive Health Management was represented by Trae Anderson, managing partner of Dominus Commercial, who also represents 1111 West Mockingbird. The 7610 Stemmons building was represented by Sharon Friedberg, vice president of office marketing, and associate Andy Harder of Bradford Commercial Real Estate Services. Approximately 30,000 square feet remains available at 7610 Stemmons, and Diversified Capital will create “ready suites” in a portion of the space to accommodate a variety of needs. The suites will offer potential tenants spaces already built out to their requirements.

Also known as Brookhollow Place, 7610 Stemmons Freeway recently underwent a lobby renovation and has class A finishes throughout. Features include 21,000-square-foot floorplates, 24/7 manned security, and a full-service fitness center. Located at I-35E and State Highway 183 in the Stemmons submarket, the building has freeway visibility and access, as well as direct DART access.

The DHM transaction follows the recent lease by Parkland Health & Hospital System of 67,000 square feet at Diversified Capital’s 8435 Stemmons, an 11-story, 229,695-square-foot class A building being repositioned as a multi-tenant use after 15 years of single tenancy. The four-floor occupancy marks the second tenant signing at 8435 Stemmons, driving the asset’s occupancy to 45 percent.

Diversified Capital owns and manages a comprehensive portfolio of commercial and residential properties in New Jersey, Pennsylvania, Virginia, Connecticut and Texas. Founded in 1999 by president Joseph I. Rosenbaum, the firm specializes in acquiring and turning around properties, repositioning these acquisitions as stabilized, income-producing assets within its long-term portfolio.

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About Diversified Capital, Inc.

TEANECK, N.J., Oct. 21, 2009 – Kohl Asset Management (KAM), a division of Kohl Partners, has been named property manager for Heritage Pointe of Teaneck, a full-service rental retirement community located in Bergen County, New Jersey. Kohl Asset Management has been a strong presence in Teaneck for more than 25 years and will bring the resources and relationships to Heritage Pointe of Teaneck to make the community a success. A specialty housing, hospitality and senior living management, development and financial services firm based in Congers, N.Y., KAM manages approximately $1 billion in diverse real estate assets including 30 senior housing communities in New Jersey, New York, Pennsylvania and Connecticut. The company, which was based in Teaneck, N.J. for many years, was founded by a long-time Bergen County resident and national senior housing ICON Leonard Kohl (NAHB) approximately 50 years ago.

Heritage Pointe of Teaneck offers spacious one-, two- and three-bedroom apartments, distinctive amenities, spa membership, fine dining and an array of on-site activities and excursions for residents. Health care is provided on-site by independent area agencies and physicians. The community is located directly off Interstates 80 and 95, near Route 4, adjacent to the Glenpointe Complex and adjoining 46 acres of natural woodlands within the protected Teaneck Creek Conservancy.

“In many ways, this assignment is like a homecoming for us,” noted Drew Barile, chief executive officer of KAM, who was joined by Mr. Kohl at an introductory presentation for the community’s residents this fall. “We are evaluating the property, services and operations, and interviewing residents and staff, listening to everyone. We want to make sure we do our best to satisfy individuals who live here now and work to create an atmosphere that will continue to attract new residents.”

“The community has an excellent staff and a diverse resident population that enjoys educational, cultural and recreational interests,” added Lisa Kelly, Kohl Multi-Family Operations Director. “Our plans include adjusted below-market rental rates which, along with service enhancements and a commitment to quality, will help the property excel and fill a vital niche for area residents looking in this region for a full-service rental retirement option in a warm and caring environment.”

More than 50 residents and family members participated in the KAM introductory meeting, which included an overview by Barile of the company’s plans for Heritage Pointe as well as an extensive question and answer session.

“We are very encouraged,” noted Arlene Arnold whose mother, Paula, was the first resident to move to the community five years ago. “The new company has shown that they care, they know the business, and they were very positive. We are looking forward to their contribution to help fill this beautiful community.”

Anyone interested in learning more can visit the community’s Web site at www.HeritagePointeOfTeaneck.com.

BLOOMFIELD, N.J., Oct. 21, 2009 – Prism Property Services, LLC, a subsidiary of Prism Capital Partners, LLC, has earned the Accredited Management Organization (AMO) designation from the Institute of Real Estate Management (IREM). Jonathan F. Hoff, RMA, CPM, senior vice president of management services for Prism Property Services, will be formally awarded the AMO certificate at the IREM Chapter No. 1 chapter meeting on December 2 at the Sheraton Edison Hotel Raritan Center.

“Our organization is extremely honored to have earned this prestigious designation,” said Hoff. “The highly recognized industry-wide AMO certification goes a long way in providing comfort to our existing and future clients.”

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PRINCETON, N.J., Oct. 21, 2009 РPharmaNet Development Group, Inc., a leading provider of clinical development services to pharmaceutical, biotechnology, generic drug and medical device companies, has signed an early renewal for its 122,000-square-foot headquarters lease at Boston Properties’ 504 Carnegie Center in Princeton. Cushman & Wakefield, Inc. represented the tenant in the long-term transaction.

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TEANECK, N.J., Oct. 20, 2009 – Tony L. Marano, president and CEO of Encelium Technologies of Teaneck, N.J., has been elected to Fairleigh Dickinson University’s (FDU) Board of Trustees for a three-year term. Founded in 1942, FDU is New Jersey’s largest private university offering both undergraduate and graduate programs.

“We look forward to Tony’s contributions to the Board of Trustees,” said FDU President J. Michael Adams. “The energy, determination, integrity and creativity that have made Tony a leader in real estate and technology will also make him an outstanding trustee.”

In January this year, Marano joined Encelium, a leading international manufacturer and supplier of addressable lighting controls for commercial buildings. Founded in 2001, the company has experienced tremendous growth, posting a 200% annual increase in the past two years. Encelium’s hallmark product, the Energy Control System™ (ECS), reduces lighting use and energy costs at a faster rate than other environmental measures.

Marano has held top-level leadership positions throughout his distinguished career. Before leading Encelium, Marano was the chief executive officer of the Americas for Cushman & Wakefield in New York. Previously, he served as the global chief operating officer of Cushman & Wakefield and was the vice president of business services at Lucent Technologies as well as that company’s vice president of global real estate. In addition, Marano held executive positions at AT&T and Bell Laboratories. He was named Corporate Real Estate Executive of the Year in 1999 by Commercial Property News.

In 2008, Marano won a Pinnacle Award, the highest award that FDU bestows upon its alumni, and was the keynote speaker at an FDU Club event that year. He serves on the board of trustees of the Fisher Center for Alzheimer’s Research Foundation; has been an active member of Project Sunshine and Institute for Children with Cancer and Blood Disorders; Chilton Memorial Hospital Board of Trustees; Achilles Foundation Board of Trustees; has served on the Board of Directors of the Jacksonville Library Foundation; and the St. John’s Epilepsy Foundation and the Gator Bowl Association. In addition, Marano is a member of the Editorial Advisory Board of Real Estate Inc., publisher of Real Estate Forum and GlobeSt.com.

Marano received his B.A. degree from Rutgers University and an MBA in finance from FDU’s College at Florham (1978). In addition, he attended Duke University’s Fuqua School of Business and the London School of Economics.

ISELIN, N.J., Oct. 19, 2009 – Even though many professionals are reporting an upturn in the current economic recession, many people still are hesitant to spend. To ensure members are able to take full advantage of everything the organization has to offer, the Industrial and Office Brokers Association of the New York Metropolitan Area (IOREBA) has established a flexible fee schedule and lower pricing for chapter events.

“Networking is an integral part of doing business and has never been more important in the current economy,” stated Charles Logan Jr., president of IOREBA and chief executive officer for The Aztec Corporation. “We are offering our members lower prices for our various networking events so they can afford to attend and perhaps gain new business.”

Since the beginning of the fiscal year, IOREBA has offered lower fees of $125 for its active members and $150 for associate members. As part of the schedule, fees increase slightly after an initial period. Those who have not paid before the deadline are notified via e-mail to take advantage of the pricing before the change.

In addition to reduced membership fees, IOREBA members can save anywhere from $25 to $75 per meeting over non-members. Spouses wishing to attend any of the meetings also pay the discounted member price.

“Becoming a member of IOREBA definitely has its advantages and not just financially,” continued Logan, referring to the Members section of www.ioreba.com. Company listings, headshots and bios of each member are featured there. Members can also post company press releases in a recently established Member News section. Both of these areas can be viewed by all visitors to the Web site.

With roots dating back to 1927, IOREBA is one of the nation’s largest regional commercial real estate groups; its more than 300 members conduct business in New Jersey, New York, Pennsylvania and Connecticut.

For further information about becoming a member of IOREBA, visit www.ioreba.com/membership.html.