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SHOWROOM-LIKE STORES COULD OVERTHROW THE BASIS FOR RETAIL RENTS, WRITES CREMODELS EXECUTIVE

By: Mike Harris

Oct 15, 2018

SHOWROOM-LIKE STORES COULD OVERTHROW THE BASIS FOR RETAIL RENTS, WRITES CREMODELS EXECUTIVE

If present trends continue, retail rents might one day be based on traffic and customers rather than traditional metrics such as sales per square foot or percentage rent, observes Mike Harris, Managing Director of CREModels, in a new column for Forbes.com. “E-commerce is transforming retail real estate and yet the most drastic changes may still be ahead,” writes Harris, whose CREModels provides financial modeling, due diligence and technology consulting. In the Aug. 14 column

Berkadia secures $52 million in financing for multifamily property in New Jersey

Sep 28, 2018

Berkadia secures $52 million in financing for multifamily property in New Jersey

ATLANTIC HIGHLANDS, NJ — Berkadia announced the $51.97 million financing for Thousand Oaks Village, a garden-style multifamily property in Atlantic Highlands, NJ. Senior managing director Bob Falese and managing director Jeff Heath of the Philadelphia office secured the acquisition loan through Freddie Mac for the borrower, Delaware-based 165 Thousand Oaks Drive LLC. The deal closed on July 11. The sponsorship for this transaction was led by a joint venture between Kushner

The Hampshire Cos. and Claremont Cos. celebrates milestone in ribbon Cutting for RIVET

Celebratory opening of Jersey City’s newest luxury

Sep 24, 2018

The Hampshire Cos. and Claremont Cos. celebrates milestone in ribbon Cutting for RIVET

JERSEY CITY, NJ — Executives from The Hampshire Companies and Claremont Companies were joined by New Jersey City University president Sue Henderson and Jersey City Mayor Steven Fulop to celebrate the ribbon cutting for RIVET, Jersey City’s newest luxury apartment development, at 23 University Blvd. in the city’s west end neighborhood. Featuring 163 modern residential units and 10,000 s/f of service-oriented ground level retail, RIVET is a key component in the first phase of

Financial “State of the Union”

By Gregg J. Wallace, AMA Financial, LLC

Sep 19, 2018

Financial “State of the Union”

Since 2003, AMA Financial has been serving its commercial real estate clients’ and is one of the leading commercial mortgage-brokerage firms. AMA specializes in providing a broad scope of creative structured finance and equity options for all commercial property types. (Multi-Family, Office, Industrial, Student Housing, Hotels, Retail, Senior Living and Self-Storage) Our mission is to meet the financial needs of our clients by providing innovative solutions combined with han

Progress Capital packages $7.23M in loans

Sep 14, 2018

Progress Capital packages $7.23M in loans

JERSEY CITY, NJ — Kathy Anderson, managing partner at Progress Capital, packaged $7.23 million in loans to refinance four Jersey City multifamily buildings on behalf of JR City Properties. The four properties include a mixed-use building at 456-462 Laidlaw Ave. and the three multifamily buildings at 84 Waldo St., 30-41 Bleecker St. and 37 Paterson St. The properties encompass a total of 56 residential units and 3,500 s/f ground-level retail space. All four loans include a 5

Hollister identifies & develops the next generation of leaders

Founded in 2004 by childhood friends

Aug 30, 2018

Hollister identifies & develops the next generation of leaders

Founded in 2004 by childhood friends, Kieran Flanagan and Christopher Johnson, the goal for Hollister Construction Services (Hollister) has always been to identify and develop the next generation of leaders. Leaders to build Hollister of the future and to continue growing our culture. Consistent with this goal, the executive team has worked extremely hard on implementing the succession plan which will allow Hollister to continue to succeed well in to the future. An industr

Gilbane, Stantec & QEA
selected as design-build team

For $108M George Mason High School in Falls Church

Aug 23, 2018

Gilbane, Stantec & QEA selected as design-build team

FALLS CHURCH, VA — After a selection process that began in November 2017, the Falls Church City School Board unanimously selected the design-build team of Gilbane, Stantec, and Quinn Evans Architects (QEA) for the new $108 million George Mason High School. Falls Church City Schools’ Superintendent Peter Noonan noted, “The design put forth by the Gilbane team is nothing short of brilliant. It is everything the community has asked for and more. I'm very excited as we now move i

Asset management, how it can save time in the long run

By Daniel Schuster, HF Planners, LLC

Aug 23, 2018

Asset management, how it can save time in the long run

Asset management is simply the tracking of company owned property (assets). The goal is to know where these items are located, how they are used, and when changes are made to them. The reasons for wanting to track assets are numerous but these are a few that stand out: 1. Increase Workplace Efficiency 2. Reduce Time Spent locating assets 3. Reduce Money Wasted replacing misplaced or misused assets From AD HOC to Havoc Your department’s asset management process should ali

Single-use developers face new challenges in today's world

By Mike Harris and Max Garbus, CRE Models

Aug 8, 2018

Single-use developers face new challenges in today's world

Two veteran real estate executives from consultancy CREModels ask a provocative question in a new column for Commercial Property Executive: How can single-use developers of offices, shopping centers or multifamily properties prepare themselves for a mixed-use world? The national trend toward mixed-use development is undeniable, write Mike Harris, managing director, and Max Garbus, practice director, due diligence services. “Marketed as experiential, live-work-play communitie

Wood plays a critical role
in transforming communities

Aug 8, 2018

Wood plays a critical role in transforming communities

Wood buildings play a critical role in the design and development of our communities, making the places we live safer, healthier, livable and more resilient. In support of this year’s AIA theme, Blueprint for Better Cities, Think Wood will attend the AIA Conference on Architecture to share research and resources on the benefits of wood and how it offers better solutions for the communities where we work, live and play. With mounting pressure to reduce the carbon footprint o

An old foe creates a potentially toxic relationship

By Neil Andrew Stein, Esquire, Kaplin Stewart

Aug 2, 2018

An old foe creates a potentially toxic relationship

After 30 years of representing developers and all manner of real estate owners and uses, I have seen environmental issues evolve from deal killer to merely an afterthought. Those concerns and doubts of the past have given way to the innocent purchaser rule and Act 2. Such issues are also no longer daunting to lenders, now statutorily protected from post-foreclosure liability. Unfortunately, that may all change. On July 16, 2018, before the Third Circuit Court of Appeals, th

Healthy economy draws developers and
investors into the Washington, DC, Metro area

Marcus & Millichap Multifamily Research Market

Aug 2, 2018

Healthy economy draws developers and investors into the Washington, DC, Metro area

Positive economic drivers prompt further construction. Since the great recession, Washington D.C.’s minimum qualifying income for the metro’s median-priced home increased 29%, about twice the growth rate of the market’s median household income in general. The gap between an average rental payment and an average mortgage payment has also widened. As homeownership costs continue to rise faster than household income, rental demand will continue. To address demand, developers are

Market returning to supply demand balance

Pennsylvania I-78/I-81 Corridor Industrial

Aug 2, 2018

Market returning to supply demand balance

The PA I-78/I-81 Corridor faced supply constraints in 2015 and 2016. Pent-up demand continued to grow following the post-recession era and start of the e-commerce boom. Overwhelming demand led developers to break ground on speculative projects without hesitation. As of today, buildings constructed in 2015 and 2016 posted vacancy rates at 6.7% and 9.0%, respectively, compared to buildings that completed construction in 2017 and year-to-date 2018 where vacancy sat at 40.6% and

Blocks shuffle as tenants relocate, but with inbound leasing down, absorption remains stagnate

JLL Philadelphia

Aug 1, 2018

Blocks shuffle as tenants relocate, but with inbound leasing down, absorption remains stagnate

Market West emerged from the second quarter with net positive absorption, a welcome change from recent history, but largely the result of long-planned relocations of existing tenants. 1735 Market continued to backfill its large blocks: Montgomery McCracken settled in on three floors, opening up the high-rise at 123 South Broad, and Brandywine Global has begun its transition back across the Schuylkill, creating a large block at Cira Centre. Departures and downsizings continue

Community Alignment Opens Door to
Big Development in Falls Church, Virginia

By Todd Hitt, Kiddar Capital

Jul 26, 2018

Community Alignment Opens Door to Big Development in Falls Church, Virginia

With a median household income of about $115,000 and a poverty level of 3.6 percent (according to the US Census Bureau), Falls Church has been ranked multiple times as one of the best places to live in the United States. USA Today named it the best place to live in America based on education, poverty, and life expectancy. US News & World Report identified it as the country’s healthiest community. It’s home to great public schools, and 98 percent of residents hold high school

Securing funding for properties
in less-than-ideal locations

Kennedy Funding Financial

Jul 26, 2018

Securing funding for properties in less-than-ideal locations

So you've finally found that perfect piece of real estate – but unfortunately, the bank doesn’t seem to agree because it’s not located near a population center. Traditional financing institutions are not willing to fund deals outside of cities or other major population center, citing risk aversion. Banks and other conventional lenders are concerned about what will happen in the event a borrower defaults on their loan. For properties in and around cities, lenders presume tha

Kinsley to deliver new facility for Baltimore Mounted Police

Construction is expected to break ground this

Jul 25, 2018

Kinsley to deliver new facility for Baltimore Mounted Police

BALTIMORE, MD— Kinsley Construction, Inc. has been engaged by the B&O Railroad Museum and First Mile Stable Charitable Foundation, LLC to design and build a new stable for the Baltimore City Mounted Police – the nation’s oldest continuously operating mounted police unit. The project will include state-of-the-art stables and an educational facility constructed on the B&O Railroad Museum property in West Baltimore. The new stables will better support the work of the police dep

Waters Retail Group leases 2,800 s/f in VA convenience ctr.

Joe Waters reps. landlord in the transaction

Jul 25, 2018

Waters Retail Group leases 2,800 s/f in VA convenience ctr.

WINCHESTER, VA — Waters Retail Group, Southeast Pennsylvania's premier development, management, leasing, and brokerage firm, has leased 2,800 s/f of retail space in the Apple Blossom Convenience Center to United Dental Arts. United Dental Arts will open in September. The Apple Blossom Convenience Center is located at the intersection of S. Pleasant Valley Rd. and E. Jubal Early Dr. in Winchester. The 53,725 s/f shopping center is anchored by Best Buy and Valley Health System

Lan crosses the finish line in marathon
“Habitat For Humanity” build

Jul 25, 2018

Lan crosses the finish line in marathon “Habitat For Humanity” build

NEWBURGH, NY — Replacing suits and ties for work boots and hardhats, volunteers from LAN Associates spent a day in Newburgh, where they rolled up their sleeves and got their hands dirty to take part in the annual Habitat for Humanity of Greater Newburgh 2018 Home Builder’s Blitz to construct two residences in just five days! The team of LAN volunteers, consisting of architects, engineers, and design professionals from the Goshen and Midland Park offices, helped construct the

The Camden skyline is changing

By Michael DiSanto, M&T Bank

Jul 24, 2018

The Camden skyline is changing

Camden, once known as a blighted, impoverished city, is undergoing a renaissance. In fact, Camden’s crime rate has decreased by nearly 40 percent since 2012, and more than $3 billion has been invested in Camden’s economic redevelopment. Notable businesses, including the Philadelphia 76ers and Subaru, are calling Camden home, and the city’s skyline is blooming. In late April, M&T Bank joined with Camden Mayor Frank Moran, Camden County Freeholder Jeffrey Nash, CP Residential

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