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R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news
On behalf of Brookfield Real Estate Financial Partners HFF closes $400m refinancing for five-property 2,600-unit portfolio
ISSUE HIGHLIGHTS Volume 24 Issue 6 March 30 - April 12, 2012
Vanguard Energy Partners
W
ASHINGTON, D.C. –HFFhas arranged a $400 million refi-
nancing for a five-property, 2,600-unit multi-housing portfolio located in Washing- ton, D.C. and Hoboken, NJ. HFF worked on behalf of Brookfield Real Estate Financial Partners to se- cure the floating-rate loan through M&T (FNMA). The properties average 98 percent occupancy overall and are located within the Washington, D.C. and New York City metropolitan sta- tistical areas. The HFF team represent- ing Brookfield Real Estate Financial Partners was led by senior managing direc- tors Bob Donhauser and Bill Asbill. ■
19A
S HOPPING C ENTERS S POTLIGHT RETAIL EXPERTS
Edgemoore Apartment Homes in Washington, D.C.
33A-43A
On behalf of an affiliate of Beacon Capital Partners Jones Lang LaSalle Capital Markets arranges $32 million in permanent financing
Mid Atlantic R EAL E STATE J OURNAL ’ S A NNUAL C OMMERCIAL
WARREN, NJ — The Jones Lang LaSalle Capital Markets firm has arranged $32 million in permanent financing for 30 Independence Boulevard on behalf of an affiliate of Beacon Capital Partners. The 210,524 s/f class A of- fice building is 100 percent leased to Verizon Wireless.
O FFICE Spotlight
Section B
Owners, Developers & Managers... 7-18 Green Buildings ............................19-25 S hopping Centers ......................... 27-46 Commercial Office Spotlight ... Section B Directory Upcoming Spotlights Creative Financing
Warren, New Jersey
The property is less than a half mile from I-78 and 2.5 miles from I-287, and nearly seven miles from the VerizonWireless
headquarters. Managing director Wes Boat- wright, executive VPs Jon Gold- stein and Mike Yavinksy, and
senior VP Dustin Stolly led the Jones Lang LaSalle team on the financing, securing the loan with Sovereign Bank. ■
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Inside Cover A — March 30 - April, 12 2012— Mid Atlantic Real Estate Journal
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AUCTION-FORECLOSURE
3BR/1BA, 2-STORY HOME 1,577± SF, 0.17± AC LYNCHBURG, VA
4BR/1BA, CAPE COD HOME 1,503± SF, 0.36± AC MARTINSVILLE, VA
ON-SITE SALE: 3210MARYLAND AVE, LYNCHBURG, VA 24501
ON-SITE SALE: 209 GREYSON ST, MARTINSVILLE, VA 24112
THURS, APRIL 5 @ 11 AM
THURS, APRIL 5 @ 2 PM
1
2
5,125± SF MULTI-TENANT OFFICE BUILDING, 0.42± AC SANDSTON, VA
2BR/1.5BA TOWNHOME IN WOODSCAPE, 1,178± SF VIRGINIA BEACH, VA
STARTING BID - ONLY $200K
ON-SITE SALE: 103 E. WILLIAMSBURG RD, SANDSTON, VA 23150
ON-SITE SALE: 1413 RAMSHORNWAY, VIRGINIA BEACH, VA 23462
TUES, APRIL 10 @ 2 PM
THURS, APRIL 12 @ 11 AM
3
4
2BR/2.5BA CONDO IN RIVERFRONT COMMUNITY, 1,154± SF – SUFFOLK, VA
3BR/2BA RANCH HOME 1,045± SF, 0.3± AC NEWPORT NEWS, VA
ON-SITE SALE: 1006 LAKESIDE COURT, SUFFOLK, VA 23435
ON-SITE SALE: 7108WICKHAMAVE, NEWPORT NEWS, VA 23605
THURS, APRIL 12 @ 1 PM
THURS, APRIL 12 @ 3 PM
5
6
71,422± SF IND. BLDG. ON 18± AC & CONCRETE SLAB EQUIP – KING GEORGE, VA
193 UNITS - CONDOS & APARTMENTS – HENRICO & RICHMOND, VA INCOME PRODUCING
SOLD IN 4 TRACTS SEPARATELY OR AS AN ENTIRETY
61$0.*/("6$5*0/t.05-&:4$0.'03*/'0 SALE HELD: MOTLEY’S GALLERIES, 4402 W. BROAD ST., RICHMOND, VA 23230 2. JACKSON POINTE CONDOS/APARTMENTS 817 WALES DRIVE, HIGHLAND SPRINGS, VA 23075 (33) Condos & (1) 14-Unit Apt. Bldg. on 10.6± AC. Community Swimming Pool. Property to be Offered as an Entirety. 3. HIGHLAND POINTE CONDOS 1105 W. NINE MILE RD., HIGHLAND SPRINGS, VA 23075 (30) 2BR/1BA Condos on 2.35± AC. Community Swimming Pool. Condos Offered Separately or as an Entirety. 7 1. DUTCH VILLAGE APT. COMPLEX 3835 GUILDER LANE, RICHMOND, VA 23234 (116) 1, 2 & 3 BR 2-Story Apartments on 12.8± AC. Complex Offered as an Entirety.
1. 71,422± SF INDUSTRIAL BUILDING ON 18.17± AC 2. 2007 SPANCRETE® GT240 3-BED HOLLOWCORE PRECAST PROD. LINE 3. 2008 VOELLER TWIN CYCLO BATCH MIXING SYSTEM 4. 2008 MID ATLANTIC 25-TON TRDG BRIDGE CRANE
SUPPORT EQUIPMENT ONLINE ONLY AUCTION: 4/10 - 4/26
BIDS BEGIN CLOSING: THURS., 4/26 @ 2PM
Support, Production, Quality Control, Maintenance and Office Equipment
ON-SITE SALE: 11023 DENNISW. KERNS PARKWAY, KING GEORGE, VA 22485
TUES, APRIL 24 @ 2 PM
8
Call us if you are interested in consigning your property or if you would like to inquire about having your own auction.
Another Trustee Sale by Fortis –We Sell Foreclosures!
Mid Atlantic Real Estate Journal — March 30 - April 12, 2012 — 1A
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Physical Characteristics •Size:
120 Acres (sub-dividable)
•Location: In Lebanon County, PA •Topography: Generally flat with elevation between 450.0-510.0 ft. •Zoning: Industrial and Office
Utilities •Water: •Sewage:
City of Lebanon Water Authority, 12" line City of Lebanon Water Authority, 18" line
•Gas:
UGI utilities, 6" line
•Electricity:
Met-Ed, A FirstEnergy Company, 69KV
Transportation •Rail:
Norfolk Southern Railway
•Highway:
I-76, I-78 & I-81 are located 9 miles from site
•Air:
Harrisburg International, 20 miles
Brokers Protected
16 Lebanon Valley Parkway • Lebanon, PA 17042 phone (717).274.3180 • fax (717).274.1367 www.lvedc.org
2A — March 30 - April 12, 2012 — Mid Atlantic Real Estate Journal ABC......................................................................... 17A Aldo Design Group ................................................. 10A All-Rite Construction ............................................. 30A American Boiler Company..................................... 21A Auctioneers Directory .............................................. 6A B.R. Kreider & Son, Inc. ........................................ 31A Beacon Commercial RE ........................................... 6B Belfor Property Restoration .................................. 13A BL Companies ........................................................ 41A Bohler Engineering................................................ 33A Capitol Aerials........................................................ 20A CBC Bennett Williams........................................... 31A CBC Bennett Williams........................................... 37A Cooper Roofing INC. ................................................ 8A Delmarpa Janitorial Services................................ 12A Delran Builders...................................................... 17A Dietrick Group ....................................................... 19B Earth Engineering ................................................. 38A Expert Publishers, Inc. .......................................... 26A Fix Asphalt ..............................................................11A Fowler ..................................................................... 18A Franchise World ..................................................... 32A Gerber/Somma Associates .................................... IC-B Gilbeaux Associates, P.C. ....................................... 20A Grant Street Associates ........................................... 4B Green Power Developers........................................ 23A Hafteck CWS .......................................................... 12A Harkins Builders.................................................... 17A High Associates ........................................................ 3B Hutchinson ............................................................. 20A Hylant Environmental........................................... 33A IREM ...................................................................... 15A Kaplin|Stewart........................................................ 2B Kay Realty Services ............................................... 30A KW Commercial The James Balliet Comm.’l ....... 27A Landcore Engineering ........................................... 36A Landmark JCM...................................................... 18A Lebanon Valley......................................................... 1A M. Miller & Son........................................................ 3A Marcus & Millichap ............................................... 35A Meridian Capital Group .......................................... 3A Metro NJ................................................................... 5A Motleys Auctioneers.............................................. IC-A NAI CIR.................................................................. 30A NAI DiLeo-Bram & Co........................................... 11B NAI Emory Hill ........................................................ 9B NAI Fennelly .......................................................... 10B NAI Global.............................................................. 14B NAI Keystone Commercial ...................................... 8B NAI KLNB.............................................................. 13B NJ USDA ................................................................ 10A PennCap Properties .............................................BC-B Poskanzer Skott Architects ..................................... 9A Ray Angelini, Inc.................................................... 22A RD Management LLC.....................................28A-29A RE/MAX of Reading ................................................. 3A Remco Realty Grp. ................................................. 30A ROCK Commercial................................................. 31A Sheldon Gross Realty............................................... 1B Target Building ..................................................... 39A Taylor Long Properties .......................................... 31A The Frederick Group.............................................. 19B Vanguard Energy Partners, LLC .......................IBC-A Vantage Landscaping........................................9A,10A Wohlsen Construction............................................ 17A MAREJ A DVERTISERS D IRECTORY
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Mid Atlantic R EAL E STATE J OURNAL Publisher ............................................................................Linda Christman Co-Publisher .........................................................................Joe Christman Section Publisher ..............................................................Michael Campisi Section Publisher ................................................................Elaine Fanning Senior Editor/Graphic Artist ................................................ Karen Vachon Production Assistant ........................................................ Rachel Rugman Office Manager ...................................................................Joanne Gavaza Editorial Consultant ............................................................. Ben Summers Guest Columnist ..................................................................Darrell Kratzer Mid Atlantic R EAL E STATE J OURNAL ~ Published Semi-Monthly P.O. Box 26 Accord, MA 02018 (Mail) 312 Market Street, Rockland, MA 02370 (Overnight) Periodicals postage paid at Rockland, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, P.O. Box 26, Accord, MA 02018 USPS #22-358 | Vol. 24 Issue 6 Subscription rates: $99 - one year, $198 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Toll-Free: (800) 584-1062 | MA: (781) 871-5298 | Fax: (781) 871-5299 www.marejournal.com
Mid Atlantic Real Estate Journal
By Darrell Kratzer Re-Imagining, Repurposing, and Revenue: Lessons in Strategic Space Optimization
M
any building owners and facility manag- ers are faced with the
daunting task of maximizing productivity within existing space where budgets aren’t available for new construction or major renovation. Philadel- phia architecture firm Buell Kratzer Powell has developed a program for strategic space optimization guided by “Three Rs” – re-imagining, repurpos- ing, and revenue. The Three Rs strategy for existing facilities is guided by positive, informed, and finan- cially sound choices. Spaces are re-imagined with an eye to institutional or organiza- tion identity, the visitor/staff experience, and a connection to workplace trends. Repurposing involves maximizing underuti- lized spaces and developing alterations that make these spaces active, vibrant build- ing components. Ultimately, the process uses revenue as its guide. The owner’s financial objectives are on equal footing with spatial decision-making, and a thorough understanding of revenue generation shapes designs. At its most basic, the design process evaluates space use and distribution, assesses current conditions, determines short- and long-term future needs, evaluates alternatives, and identifies a program for phased improvements. But the process does not occur in a vacuum; qualitative and quantitative research shapes every decision. Electronic surveys, interviews, and focus groups supplement
The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
traditional architecture meth- ods such as space allocation studies and programming. A recent institutional project illustrates the process in prac- tice. A dental school embarked on a master plan to define op- timal investments in its labs, clinics, and administrative space over 10 years. The study examined the condition and function of existing facilities plus demand for new space, while anticipating changes in dental education, introduction of new technologies, and a need to increase student enrollment by 20 percent over the plan’s timeline. The collaborative, five-month study included participation by all users, from facility manage- ment to faculty, staff, students, and patients who visit the school’s public clinic. From feedback gained through elec- tronic surveys and interviews, the study defined a series of test-fits for clinic, research, and teaching spaces. Designs sup- port faculty and student recruit- ment, improve patient care, and enhance the ability of the school to generate revenue. While revenue was consid-
ered at the macro level in terms of issues such as enrollment and capital expenditures, revenue also was distilled to an integral component of the dental school’s finances – the individual dental chair. Revenue per s/f was cal- culated based on the number of clinical operatories, both in terms of patient visits and stu- dents who work with patients at each chair. The study mapped invest- ments in a sequence of projects to be constructed using swing space identified during the space assessment study. Unde- rutilized spaces included those allocated to paper filing before digital record-keeping became the norm, or those encompass- ing clinical facilities that were outdated or not in regular use. By translating space to dollars, the goal of maximizing opera- tory facilities motivated other spatial decision-making. The study culminated with a 10-year plan with five phases of improvements. Phases one through three could be com- pleted in sequence, with swing space defined at each step. As each phase is completed, the continued on page 3A
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Mid Atlantic Real Estate Journal — March 30 - April 12, 2012 — 3A
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M ID A TLANTIC R EAL E STATE J OURNAL Birnbaum & Levine negotiate the 1.264m s/f transaction Meridian Capital arranges $127 million in financing N EW YORK , NY — Meridian Capi- tal Group, LLC, a
They wrote the policy.
We make sure they write the check.
chase and features a highly competitive Interest rate. The proceeds of the loan were used to refinance the property’s existing CMBS financing. Meridian execu- tive vice president, Aaron Birnbaum, and managing director, Ronnie Levine, both based in the company’s New York City headquar- ters, negotiated the trans- action. The 45-story, 1,264,000 s/f office tower is located in downtown cleveland at 200 Public Square, where it occupies the full block be- tween superior and euclid avenues at Fifth Street. The property spans 2.75 Acres and features an eight-story atrium and 757-space adjacent parking Facility. ■
commercial real estate finance and a d v i s o r y firm, nego- tiated $127 million in mo r t g a g e f i nanc i ng On behalf of harbor group inter- national for its class-a office build- ing located at 200 pub- lic Square in Cl eve - land, Ohio.
M. MILLER & SON Public Adjusters Since 1960
Aaron Birnbaum
1211 Liberty Ave., Hillside, NJ 07205 ● Tel: 908-355-4800 [email protected] ● www.mmillerson.com
Ronnie Levine
The 10-year cmbs loan was provided by j.P. Morgan
Recent Financings Arranged By Meridian Capital Group
200 Public Square
Re-Imagining, Repurposing, and Revenue . . .
number of dental chairs in- creases, thereby offering more revenue to fund additional phases. Phases four and five include projects that can fol- low any sequence as funding becomes available. At the end continued from page 2A
of ten years, the number of chairs will have increased by 26 percent. The added chairs make it possible to meet the school’s ultimate goal of increasing stu- dent enrollment by 20 percent. Darrell Kratzer,AIA, LEED
APBD+C, is an architect and principal with Buell Kratzer Powell Architects. He and the firmbalance pragmatism with creativity to design ar- chitecture that is both use- ful and timeless. ■
Hunters Glen 1,124 Units $49,000,000 Delran, NJ
Steward’s Crossing 241 Units $27,200,000 Princeton, NJ
RARE DEVELOPMENT OPPORTUNITY $4.5 Million ∙ 33 Acres
1
West Creek Village 306 Units $16,000,000 Elkton, MD
Woods at Narraticon 150 Units $16,950,000 Deptford, NJ
For More Information Please Contact:
3801 Penn Ave Sinking Spring, PA
The subject property located in Sinking Spring PA (just minutes from Reading, PA) is 33 acres of land and is pre-approved for a three story, 55+, independent living facility with 130 units and 20 more in the future, and 80 townhouse units. Ready to develop. Public Water & sewer.
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Eddy Peng, CCIM, CIPS RE/MAX of Reading Office: (610) 670-2770 x3078 Cell: (610) 223-0567 Email: [email protected]
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4A — March 30 - April 12, 2012 — Mid Atlantic Real Estate Journal
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C OMMERCIAL R EAL E STATE O RGANIZATIONS ’ E VENTS C ALENDAR
APRIL 10 – PLAN SMART NJ Event: 2012 NJ Regional Planning Summit Time: 8:00 AM – 4:30 PM Location: War Memorial Address/City: Trenton, NJ Cost: $65 Members $110 Nonmembers $25 Students P: 609-393-9434 www.plansmartnj.org APRIL 10 – SMPS Philadelphia Event: SMPSNational The Basics of Business Development in the A/E/C Marketplace Time: 8:00 AM – 4:30 PM Location: The Down Town Club Address/City: 600 S Chestnut Street, Philadelphia, PA 19106 Cost: Members: $395 Nonmembers: $545 www.smpsphiladelphia.org APRIL 11 – IFMA CENTRAL PA Event: Board of Directors Meeting Time: 8:00 AM – 10:00 AM Location: TE Connectivity Address/City: 2801 Fulling Mill Road, Middletown, PA 17057 Building 106 Conference Room #1 P: 717-986-7394 www.ifmacentralpa.org APRIL 12 – NAIOP Event: Insurance Market Outlook: What Owners & Developers need to know Time: 4:30 PM – 6:00 PM Location: The Philadelphia Country Club Address/City: 1601 Spring Mill Road, Gladwyne, PA 19035 Cost: Free to members & non-members, Registration begins at 4:00 PM Phone: 215.219.2663 www.naiop.org APRIL 12 – TRISTATE Event: Office Specialty Meeting Location: Norriton Business Campus Address/City: 2000 Campus Lane, E. Nor- riton, PA Cost: Members Free/$10 Nonmembers www.tristaterca.com APRIL 12 – CREW DC Event: Cocktails & Conversation Recruiting Event for Industry Leaders P: 785-832-1808 E: [email protected] www.crewdc.org APRIL 12 – EIRC & NJASA Event: Proficient to Advanced SMART Board Skills Time: 8:30 AM – 1:30 PM Address/City: 107 Gilbreth Pkwy, Suite 200, Mullica Hill, NJ Cost: $120 P: 609-330-9218 www.eirc.org APRIL 14 -18 – IREM NJ Event: IREM National Meeting – IREM Leadership Summit Time: 12:00 AM Location: JW Marriott Hotel Address/City: Washington, DC P: 856-303-0190 E: [email protected] www.irem1.org APRIL 17 – NAIOP PITTSBURGH Event: Continuing Education Designed for Commercial Brokers & Agents Time: 8:00 AM – NOON/ 1:00 PM – 4:45 PM Location: Omni William Penn Hotel Cost: Members: $75/ Non-members: $95 P: 412-928-8363 www.naioppittsburgh.com
APRIL 18 - 20 – BOMA PHILADELPHIA Event: Regional MiddleAtlantic Conference (MAC) Address/City: Pittsburgh, PA P: 215-567-1775 www.bomaphila.com APRIL 18 – ABC EPA Event: 50th Anniversary Gala Time: 5:00 PM Location: Radisson Hotel – Waterford Ball- room Address/City: 1160 First Ave., King of Prussia, PA P: 610-279-6666 E: [email protected]
APRIL 3 – ULI PHILADELPHIA Event: Commercial Leasing Mini-Workshop Time: 4:00 PM – 6:00 PM Location: Langan Engineering & Environmental Services, Inc. Address/City: 30 S 17th St. 13th Floor, Philadelphia, PA P: 800-321-5011 www.philadelphia.uli.org April 3 – CIANJ Event: “Women of Influence in New Jersey” Time: 5:30 PM – 7:00 PM Location: William Paterson University Address/City: 1600 Valley Road, Wayne, NJ 07470 Cost: Members: $20 Non-members: $30 P: 201-368-2100 E: [email protected] www.cianj.org APRIL 3 – CREW LEHIGH VALLEY Event: “Coffee & CREW” Time: 8:00 AM – 9:00 AM Location: Wegmans Address/City: Allentown, PA 2nd Floor www.crewlehighvalley.org APRIL 3 – DVGBC Event : DVGBC Forum-Phi lade lphia Branch Time: 5:30 PM – 7:30 PM Location: Conversation Hall-Room 201 Address/City: Philadelphia City Hall, Phila- delphia, PA Cost: Free P: 215-399-5790 www.dvgbc.org APRIL 3 – ULI PHILADELPHIA Event: Commercial Leasing Mini-Workshop Time: 4:00 PM – 6:00 PM Location: Langan Engineering & Environ- mental Services Address/City: 30 S. 17th St., 13th Fl., Phila- delphia, PA P: 800-321-5011 www.philadelphia.uli.org APRIL 4 – ABC NJ Event: Membership & Events
www.abceastpa.org APRIL 18-22 – BOMA
Event: MAC Regional Conference Location: Omni William Penn Hotel Address/City: Pittsburg, PA P: 973-696-2914 E: [email protected]
www.bomanj.com APRIL 18 – POA Event: POA Expo 2012
Location: Wilshire Grand Hotel Address/City: West Orange, NJ P: 732-780-1966
www.poanj.org APRIL 18 – SIOR
Event: Members/Sponsor Meeting Location: Tomato Pie of Morristown Address/City: Morristown, NJ Cost: Free – Members Only www.siornj.com APRIM 18 – SMPS PITTSBURGH Event: Luncheon Program-Secretary of Transportation Time: 11:30 AM – 1:30 PM Cost: $40 Members $65 Nonmembers www.smpspittsburgh.org APRIL 19 – NAIOP MD Event: Awards of Excellence 2012 Time: 5:30 PM – 9:30 PM Location: Hyatt Regency Baltimore Address/City: Baltimore, MD www.naiopmd.org APRIL 19 – ICSC Event: PA/NJ/DE Next Generation Developers Showcase Time: 5:30 PM-8:00 PM Location: Hyatt at Bellevue Address/City: 200 South Broad Street, Philadelphia PA Cost: Member: $25 advance, $40 on-site/ Non-member: advance $40, $55 on-site P: 1-646-728-3648 E: [email protected] www.icsc.org APRIL 24 – CREW PITTSBURGH Event: Lunch Program: CREW Pittsburgh 2nd Annual Energy Sector Update Time: 11:30 AM – 1:30 PM Location: The Rivers Club Address/City: 301 Grant St., Pittsburgh, PA www.crewpittsburgh.org APRIL 24 – CIANJ Event: Financing Your Business During These Difficult Times Time: 8:00 AM – 11:30 AM Location: Crowne Plaza Address/City: 690 Route 46 East, Fairfield, NJ 07004 P: 201-368-2100 E: [email protected] www.cianj.org
Time: 8:30 AM Location: PSI Address/City: 414 River View Plaza, Trenton, NJ E: [email protected] www.abcnjc.org APRIL 4 – NAIOP NJ Event: Real World Ethics for Commercial Real Estate Brokers Time: 12:00 PM – 1:30 PM Address/City: 56 Livingston Ave., Roseland NJ Cost: Free P: 732-729-9900 www.naiopnj.org APRIL 5 – ABC EPA Event: Apprenticeship Graduation Time: 5:00 PM – 7:00 PM Location: ABC Training Center Address/City: 1500 Gehman Road, Harleysville, PA 19438 Cost: Student/Graduate: $0.00
Member: $15.00 P: 610-279-6666 www.abceastpa.org APRIL 6 – NAWBO DE Event: Power Tools for Women Time: 9:00 AM – 10:00 AM Location: Bella Vista Trattoria Address/City: Riverfront Market, 3 South Orange Street, Wilmington, DE 19801 P: 302-652-1010 E: [email protected] www.nawbodelaware.org
APRIL 27- APRIL 28 – NAWBO DE Event: Delaware’s Exclusive Women Business Owner Retreat Time: 9:00 AM APRIL 27 – 5:00 PM
Mid Atlantic Real Estate Journal — March 30 - April 12, 2012 — 5A
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The Metro New Jersey Chapter of the Appraisal Institute 76th Annual Princeton Conference April 26, 2012-Marriott Hotel & Conference Center, 100 College Rd. East, Princeton, NJ
CONFERENCE SCHEDULE 8:00 am
Continental Breakfast & Registration
8:30 am Session I
State of the Appraisal Industry/Appraisal Institute
State of Commercial Real Estate and Capital Markets Office, Industrial and retail experts will provide their State of the Market Addresses, discussing current market conditions, key transactions, key metrics and buyer/seller motivations and forecasts for the future. The discussion will include valuation issues, pricing strategies, vacancy levels, rent levels and financing options available in today’s market. 8:45 am Featuring: •Gualberto “Gil” Medina, Executive Managing Director, Cushman & Wakefield of New Jersey, Inc.
•Michael S. Klein, Director, Holliday Fenoglio Fowler, L.P. •Ronald DeLuca, Vice President, Brunelli & Company •H. Gary Gabriel, Executive Vice President, Cushman & Wakefield of New Jersey, Inc.
Session II State of the New Jersey and National Economies – The Positive Prognostication Patrick O’Keefe, Chief Economic Strategist at J.H. Cohn will discuss the economic drivers affect- ing the real estate market in New Jersey, and nationally. As we emerge from this prolonged recession, what are the key drivers of the economy to affect asset sectors within New Jersey? What national drivers will bode well for New Jersey, and what is New Jersey doing right to fuel a positive economic future? 10:45 am Featuring: Patrick O’ Keefe, Director, J.H. Cohn, LLP Session III Public Utilities – the Next Great Wave of Takings Public utilities are facing growing pains across the United States as infrastructure needs require new utilities in developing areas and expanded service in older developed areas. This discussion will focus on the challenges facing public utilities and state and local government agencies as they plan for, regulate construct and operate right of way projects for electric, gas, water and other utilities. Panel will discuss the valuation considerations and the impacts upon the property rights of affected owners. 1:15 pm Featuring: Anthony F. Della Pelle, Esq., McKirdy & Riskin, P.A. Session IV State of the Home Builder/Land Market The future of homebuilding in New Jersey has been often maligned in recent years. Chris Gaffney, group President for Toll Brothers overseeing $800 Million in current homebuilding activity in New Jersey will speak about the developer’s perspective on homebuilding demand, buyer preferences, key consumer segments, and opportunities in New Jersey generally. Mr. Gaffney will present his outlook on the near-term and long-term future of homebuilding in New Jersey, and its effect on specific markets and land demand within the state. 2:15 pm Featuring: Chris Gaffney, Group President, Toll Brothers, Inc. Session V Environmental Appraisal Issues Two of the state’s leading attorneys in environmental and redevelopment law will discuss recent changes in environmental regulation and litigation, and property valuation issues involving environmental contamination issues. Key concepts will include the “value” of a No Further Action (NFA) determination, various alternate processes for obtaining insurance and indemnification, highest and best use as impacted by contamination, and key issues for an appraiser to consider in valuation of properties subject to environmental claims. 3:30 pm Featuring: •Andrew M. Brewer, Esq., Partner, Maraziti, Falcon & Healey, LLP •Albert I. Telsey, Esq., Partner, Meyner Landis, LLP Session VI Portfolio Level Analytics using Commercial Valuation >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76
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