#b#Commercial Real Estate Update#/b#
Levin Management, 893 Route 22 West, North Plainfield 07060; 908-755-2401; fax, 908-756-6757. David Selber, marketing director.
Levin Management, a North Plainfield-based retail property management and leasing company, plans major renovations to Hamilton Plaza Shopping Center at Route 33 and White Horse-Hamilton Square Road in Mercerville.
The main project is the expansion of the plaza’s ShopRite site. ShopRite has over the past decade revamped its image by converting many of its older locations in the state into “World Class ShopRite” stores. The updated stores sell a wider diversity of products and an expanded gourmet and international line.
Levin plans to remove the front section of the supermarket and expand the back in order to reconfigure about 86,000 square feet of retail space. Parking is also to be expanded and the roof is to be replaced.
The store is expected to remain open during the expansion.
Hamilton Plaza also is home to A.C. Moore Arts & Crafts and Vito’s Pizza. Levin says its plans to reconfigure ShopRite could generate an additional 28,000 square feet of space for retail.
#b#New In Town#/b#
Samuha Inc., 1100 Cornwall Road, Suite 108, Monmouth Junction 08852; 732-777-0300; fax, 732-962-1543. Gauthaman Thangaraju, vice president.
Samuha, an IT services provider, has moved from Edison to Cornwall Road in Monmouth Junction.
Harmonic Inc., 101 Morgan Lane, Suite 208, Plainsboro 08536-3345; 609-799-1313.
A little more than a year after Scopus Video networks, an Israel-based company that developed and marketed video networking technology, was bought by Harmonic for $50 million, Harmonic has opened an office at Morgan Lane.
Scopus had operated at 3 Independence Way before the acquisition by the California-based Harmonic. Harmonic’s offers broadcast and on-demand services including high definition, video-on-demand, network personal video recording, and time-shifted TV.
Sublyme Payments, 34 Chambers Street, Suite 207, Princeton 08542; 603-546-7900; fax, 603-821-0255. Jonathan Stowe, managing partner. www.sublymepayments.com.
Jonathan Stowe has set up a regional satellite office for Sublyme Payments, a New Hampshire based processor of credit card payments for retailers and restaurants.
Sky High Energy, 45 Everett Drive, Suite 40, West Windsor 08550; 609-269-5037; fax, 609-269-5483. www.skyhighenergy.com.
The Arizona-based solar panel installation firm Sky High Energy has opened an office on Everett Drive. The business serves residential and commercial clients.
Weidel Realtors, 238 West Delaware Avenue, Pennington 08534-3607; 609-737-1522; fax, 609-737-3807. Richard A. Weidel Jr., CEO. www.weidel.com.
The former president of RealEstate.com has been named president and COO of Weidel Realtors in Pennington
Bret Violette assumes the responsibilities from Richard Weidel, the 95-year-old company’s CEO, who also was its president.
Violette, who earned his bachelor’s in finance and his MBA from Bentley College in Massachusetts, is a longtime veteran of businesses involving real estate — mortgage, insurance, builder services, title, relocation, and home services. He began his career as the CFO and vice president of business development of YHD-Foxtons.
He first joined RealEstate.com as a senior vice president and was made president in 2007.
Before that he served as president of Weichert Lead Network and Weichert Rental Network.
Edison Venture Fund, 1009 Lenox Drive, Building 4, Suite 200, Lawrenceville 08648; 609-896-1900; fax, 609-896-0066. John H. Martinson, managing partner. www.edisonventure.com.
Edison Venture Fund, which provides equity financing and guidance to growing proprietary technology companies, recently completed two financing deals worth more than $3.7 million.
On June 29 the company announced the completion of a $1.2 million investment for In Person Payments, a cash-preferred consumer services agency based in Fairfield. This is the latest investment in IPP by Edison, which cumulatively has invested $11 million to bolster IPP’s marketing, sales, products and working capital.
IPP helps convenience stores, national grocery chains, wireless retailers, and financial services centers manage accounts and transactions for cash-paying customers.
It collects payments on behalf of utilities, telecommunications providers, government agencies, and other service providers.
On June 22, Edison invested $2.5 million in the Philadelphia-based Neat Company, which develops user-friendly scanning software and hardware solutions for small and medium-sized businesses.
The investment, the latest in a series of investments by Edison in Neat totaling $15.5 million, will expand sales, marketing, and product development.
According to Edison, Neat is developing software that scans, reads, and organizes paper receipts, business cards, and other documents into easy-to-read digital spreadsheet format.
Soligenix (SNGX), 29 Emmons Drive, Suite C-10, Princeton 08540; 609-538-8200; fax, 609-452-6467. Christopher J. Schaber, president and CEO. www.soligenix.com.
Soligenix, which develops products to treat life-threatening side effects of cancer treatments and serious gastrointestinal diseases, will offer roughly 25 million shares of its common stock in an effort to raise $5.16 million. treatment of acute GI GVHD, an important unmet medical need.”
The Company’s common stock will be sold to accredited investors in a private placement.
International Business Research (IBR), 902 Carnegie Center, Suite 450, Princeton 08540; 609-683-1100; fax, 609-683-8917. Michael D. Allison, CEO. www.ibrusa.com.
IBR, which conducts “due diligence” research for IPOs, mergers and acquisitions, insurers, and employers, has moved from 92 Nassau Street to Carnegie Center.
Sibson Consulting, 1009 Lenox Drive, Suite 115, Lawrenceville 08648-2321; 609-482-2373; fax, 609-895-0950. Richard DeFrehn, senior vice president. www.sibson.com.
Sibson, which consuls companies on organizational effectiveness, human resource, and compensation, has moved from 600 Alexander Park to a smaller office on Lenox Drive.
Banc3 Inc. Consulting Engineers, 300 Alexander Park, Suites 250 and 350, Princeton 08540; 609-759-1900; fax, 609-448-5590. Babu Cherukuri PE, president. Home page: www.banc3.com.
Civil Engineering firm Banc3 has moved its offices from Princeton-Hightstown Road in Cranbury to Alexander Park.
The company provides civile and environmental engiineering services, as well as land surveying and Construction management.
First American Financial Ltd (FAF), 947 State Road, Princeton. www.firstam.com.
First American Financial, a property and casualty insurance agency, has left its office on State Road and consolidated in the company’s Marlton headquarters. The firm can be reached at 856-988-9113.
Charles Street Partners LLC, 32 Nassau Street, Princeton. Chris Skudder, CEO. www.charlesstreetpartners.com.
Private equity firm Charles Street Partners has left its office on Chambers Street and no longer operates in the area. The firm, which did not specify its new location, can be reached by E-mail at firstname.lastname@example.org.
Ansa Consultants Inc., 522 Executive Drive, Princeton 08540.
Ansa Consulting, which provides clinical, staffing, nursing, and consulting services, specialized clinical program, appears to have left its office on Executive Drive. The office is empty and the company’s phone number is out of service. There is no forwarding information.