#b#Expansions#/b#
Derma Sciences Inc. (DSCIOB), 214 Carnegie Center, Suite 300, Princeton 08540; 609-514-4744; fax, 609-514-0502. Edward J. Quilty, CEO. www.dermasciences.com.
Derma Sciences, a medical R&D company in Carnegie Center, has made a $7 million investment in a New Zealand-based beauty product maker in order to secure its bees. Derma bought about 7.3 percent of Comvita’s shares, explaining that it planned to use the money to improve Comvita’s apiaries, where medical-grade Manuka honey is made for Derma’s Medihoney line of wound dressing products.
Derma CEO Edward J. Quilty said the move was important in securing the company’s honey supply. “By making this investment, and by my joining the Comvita board, we anticipate having greater influence on the future cost and supply around our leading brand,” he said.
#b#Management Moves#/b#
Prism Capital Partners (BDN), 2000 Lenox Drive, Suite 102, Lawrenceville 08648; 609-895-9595; fax, 609-895-9899. Ginny Carita, senior property manager. www.prismpartners.net.
Ginny A. Carita, above, a commercial real estate veteran with more than 25 years experience in property management — including operations and maintenance, lease administration, financial reporting, and customer service — has joined Prism Capital Partners as senior property manager of the eight-building, 800,000-square-foot Class A Princeton Pike Corporate Center in Lawrenceville.
Prism Capital Partners, in a joint venture with Angelo, Gordon & Co., acquired Princeton Pike from Brandywine Realty earlier this year. “Ginny provides the experience needed to successfully manage our newest and largest office asset,” said Eugene Diaz, principal partner in Prism. “Our goal, as always, is to provide a best-in-class working environment and outstanding tenant service.”
Constructed on 100 acres between 1984 and the early 1990s, Princeton Pike is approximately 90 percent leased, with key tenants including Wells Fargo Advisors; Stark & Stark; Princeton Healthcare Services; Fox Rothschild LLP; MetLife Solutions Group; Philadelphia Insurance Companies; and Ono Pharma USA, among others. The campus also offers future, approved development opportunities. The property sits at the intersection of Route 1 and I-195.
Carita said that Prism has launched a capital improvement program at Princeton Pike, including elevator modernizations, common area and restroom renovations, roof replacements, and parking lot repairs. “This company is dedicated to upholding, enhancing and operating its properties at the highest level, and that philosophy is in keeping with my own,” she said. “I look forward to contributing at Princeton Pike and elsewhere as the company pursues new opportunities.”
Prior to joining Prism, Carita was with Advance Realty Group. A resident of Highlands, she earned a bachelor’s degree from Crest College, and holds a New Jersey real estate license as well as an RPA designation from BOMI International.
#b#Transactions#/b#
Cushman & Wakefield, 333 Thornall Street, Suite 1A, Edison 08837; 732-623-4700; fax, 732-767-9534.
Cushman & Wakefield has brokered the sale of 258 Prospect Plains Road in Cranbury, a 58-acre, 886,826-square-foot industrial facility occupied by Pearson Education, for $98 million. Cushman & Wakefield’s Andrew Merin, Gary Gabriel, David Bernhaut, and Grace Braverman represented the seller, Exeter Property Group. The buyer was an institutional investor advised by Seattle-based Bentall Kennedy.
Gabriel said the seller had bought the property two years earlier for $80 million. He said Pearson signed a 10-year lease on the property.
The facility was originally constructed in 2001 as the northeast distribution center for Pearson, an education services company that provides publications and school support products and services. It has a recently-installed $8 million solar panel array on the roof.
The property is near Exit 8A of the New Jersey Turnpike and is in a designated foreign-trade zone. The property boasts 468 parking spaces, 38.5-foot ceilings, 55 dock doors, a cafeteria, a fitness center, and 51,000 square feet of office space.
#b#Contracts Awarded#/b#
Rockwood Holdings (ROC), 100 Overlook Center, Princeton 08540; 609-514-0300; fax, 609-514-8720. Seifi Ghasemi, chairman and CEO.www.rocksp.com.
Rockwood Holdings, a group of specialty chemical and advanced materials companies based in Overlook Center, has sold Ceramtec, a German ceramics company for $1.98 billion to Cinven, a European-based equity firm.
CeramTec, headquartered in Plochingen, Germany, has 3,000 employees and 18 facilities creating products for the medical, electronics, industrial and automotive industries.
#b#Crosstown Moves#/b#
Ronald Berlin, Architect, 245 Jefferson Road, Princeton 08540-3417; 609-921-1800; fax, 609-921-8484. www.ronaldberlin.com.
Ron Berlin has moved his architectural practice from 360 Nassau Street to a home office at his large property 245 Jefferson Street. Berlin said he created a new suite out of two existing rooms with southern, eastern and western exposure, with plenty of natural light. “I’m trying to provide for myself what I provide for my clients,” he said.
#b#Name Changes#/b#
Law Office of Linda S. Baumann, 50 Millstone Road, Building 300, Suite 140, East Windsor 08520; 609-371-1533; fax, 609-371-9107.
Westby, Holman & Cameron Esqs. has changed its name to reflect Linda Baumann’s role as the firm’s managing attorney.
EasyService Data Solutions, 103 Carnegie Center, Suite 300, Princeton 08540; 609-644-4800; Anisha Gupta, VP.
Stellar Phoenix Solutions, a data management company, has changed its name to EasyService Data Solutions. The company, profiled in the February 29, 2012, issue of U.S. 1, now offers disaster recovery planning, business continuity planning, data migration, and a local data center.
