New in Town: Euro LLC

Digital 5 Overseas

Clinical Trials

Deaths

Corrections or additions?

These articles were prepared for the November 10, 2004 issue of

U.S. 1 Newspaper. All rights reserved.

Life in the Fast Lane

The Patrinely Group officially broke ground on October 25 on a 167,000

square-foot building, the first of five buildings on 75 acres between

College Road and Scudders Mill Road. It is the first on-spec office

park to be launched in Princeton in five years.

To be called Princeton Corporate Campus at Forrestal Center, the park

will consist of five, five-story buildings totaling 800,000 square

feet. The first, at 1100 Campus Road, is due to be completed next

fall. In addition to the requirements for any new Class A space, it

will have food service and a fitness center.

"The building is geared to larger users who can’t fulfill their space

needs elsewhere," says Benjamin, Patrinely’s senior vice president.

"In the class A market there are very few if any large blocks of

contiguous space." The asking price is $34.50 per foot plus tenant

electric.

Most recently the Patrinely Group built 100 and 150 College Road East,

where Novo Nordisk and American Reinsurance are the major tenants.

Four years ago they began to work on the north campus, Benjamin says.

Based on his experience with the two College Road buildings, he chose

to have five-story buildings with 32,000 feet on each floor. That size

provides economy of scale and is good for the Princeton market. "There

are a lot of tenants in the 20,000 to 50,000 foot range," says

Benjamin. "In this building, a 60,000 square-foot tenant can take two

floors instead of four."

"We are in year six of a formerly five-year partnership, and we think

this is a very solid sign of how good Patrinely is for the Princeton

market," says David Knights, director of marketing for the Princeton

Forrestal Center. Most of the Forrestal Center land on both sides of

the highway belongs to the university, but Patrinely bought the 11

acres for 1100 Campus Road, just as it did for College Road West.

Knights points out that the university did sell land on Scudders Mill

Road to Merrill Lynch and Bristol-Myers Squibb, to Siemens and Robert

Wood Johnson Foundation on College Road, and to Windrows, the senior

residential complex adjacent to College Road East.

The project is a joint venture of Patrinely Group and USAA Real Estate

Company, a wholly-owned subsidiary of USAA Insurance Company, a $79

billion financial institution in San Antonio. "Dean Patrinely has an

over 20 year relationship with USAA, and they are terrific partners,"

says Benjamin.

The exterior will be a combination of precast concrete, glass, metal

panels, and granite in a champagne palette. The design is by Terry

Steelman, the former Hillier architect who designed the Bristol-Myers

Squibb complex on Scudders Mill Road and is now with Ballinger in

Philadelphia. A Philadelphia-based company that built 750 College

Road, L. F. Driscoll, has the construction contract.

Bradford Fenlon, first vice president of CB Richard Ellis, will market

the property in New Jersey and Stephen B. Siegel is in charge of the

New York and national campaign.

"We are excited about such a well-designed project coming through our

planning process and are delighted to see it underway," says Peter

Cantu, Plainsboro’s mayor.

Not every groundbreaking is followed by swift completion, as can be at

the Reckson site on the corner of Alexander Road and Route 1, where

construction ended shortly after it began. Gerald Fennelly of NAI

Fennelly suggests that the developers are really trying to time their

delivery to the following year, 2006.

"The Plainsboro vacancy rate is fairly high for Class A and Class B

space," says Fennelly. "They are hoping to come to completion at a

time when quality space is very limited, to give the market a chance

to rebound. Construction will go at a certain speed, depending on how

the market is doing."

"Once started," counters Knights of Princeton Forrestal Center, "they

are really going to go, because there is a stigma to not finishing."

He remembers watching Princeton Overlook progress at a snail’s pace.

"I can’t get over driving by month after month and seeing only one

pickup truck in the lot, and no progress. It gives brokers and

prospective tenants no confidence that promises made about occupancy

can be kept."

"Nine to twelve month delivery is pretty comfortable for us," says

Patrinely’s Benjamin. "We delivered both 100 and 150 College Road in

nine months, and they started out as spec buildings. Shortly after

they commenced we signed leases."

Patrinely Group, 150 College Road West, Suite 150,

Princeton 08540. Phillip Benjamin, senior vice president.

609-514-1799; fax, 609-514-1791. Home page: www.patrinely.com

Top Of Page
New in Town: Euro LLC

Bodi Mihov has opened an office/workshop for custom-made orthotics and

prosthetics at Montgomery commons. Euro O&P is a new company that does

custom made devices ordered by podiatrists or orthopedic surgeons.

Trained as a mechanical engineer in Sofia, Bulgaria, Mihov was

introduced to the prosthesis concept when his son was born with a club

foot. The treatment for that is to put casts on the foot every two

weeks to correct it. He and his family came to the United States in

1991, and he worked in the prosthesis industry for Boston Brace,

Nouvelle, and Swiss Orthopedic.

He located his workshop – complete with workbench, drill press,

routers, and other special tools – in an office complex because it

needed to be handicapped accessible. "We need to see patients here to

take the measurements and to do adjustments, and we have parallel bars

for the patient to test the prosthesis."

"We take casts of the part of the body, and from the cast we fabricate

the custom-made device. We measure, fabricate, and deliver," says

Mihov. Casts are generally made from plaster of paris.

For a stump below the knee, making the prosthesis takes five to ten

working days, and its cost is predetermined by Medicare and the

patient’s need, he says. Some patients want to be able to run, others

only to transfer from chair to chair. A below-the-knee prosthesis for

a runner could cost from $7,000 to $10,000 versus $5,000 for an

invalid.

Euro O&P LLC, 515 Executive Drive, Montgomery Commons, Princeton

08540. Bodi Mihov, orthotist, prosthetist manager. 609-430-9020; fax,

609-430-9070.

Expansions: Alliance Technologies

Alliance Technologies has moved to 4,500 square feet at Princeton

Corporate Plaza, 1 Deerpark Drive, Suite B, a space formerly occupied

by Sabinsa. Formerly it rented space in FMC’s building that fronts on

Route 1, but FMC plans to close that building, Chun says.

Founders Jonathan Chun and Anatoly (Tony) Nemzer, had worked at FMC’s

analytical chemistry lab before opening their firm two years ago (U.S.

1, July 3, 2002). "Considering the climate that we started in, right

after 9/11, we have been growing 10 to 15 percent per year," says

Chun. They hired three permanent staffers and then added another

person last year for a total of six full-timers, plus two part-timers

and a consultant.

Nemzer had run the analytical group at FMC from 1997 to 2002, and Chun

worked for him. But when one of the FMC divisions that used this

group’s service was traded away, and FMC was not enthusiastic about

selling its analytical services to the outside world, Nemzer left FMC

in September, 2001, to get the new firm organized. FMC allowed him to

use his former space.

The company can do real time testing during the manufacturing process

for product analysis or to achieve optimization. Sophisticated

computer data evaluation is offered to provide a statistical depiction

of chemical processes. Among the customers have been FMC, Astaris,

Church & Dwight, BetzDearborn, a water treatment firm, and a company

that makes sausage casings out of collagen.

"We looked for space on College Road," says Chun, "but that was

expensive for us, so we came back to Harold Kent (owner of Princeton

Corporate Plaza.)

Chun, 35, is a graduate of the University of Hawaii, Class of 1988,

who left his home state for graduate school at Princeton University.

He holds a Ph.D. from Princeton. Nemzer, 46, a Russian immigrant whose

graduated from the Moscow Institute of Fine Chemical Technology. He

has an master’s degree from St. Joseph’s College in Philadelphia.

New clients are medical device firms to test plastic or materials.

"Another surprising client base is with law firms in New York and

Washington," says Chun. "We do litigation support, testing a product

for an ingredient, or looking for patent infringement – dumping from

China and India."

Alliance Technologies LLC), 1 Deer Park Drive, Princeton Corporate

Plaza, Suite D, Monmouth Junction 08852-. Jonathan K.M. Chun PhD,

principal, director of technology. 732-355-1234; fax, 732-438-8265.

Home page: www.alliancetechgroup.com

Top Of Page
Digital 5 Overseas

Digital 5, a Lawrenceville supplier of licensed consumer electronics

networking technology, has opened an engineering development office in

India and regional sales and marketing offices in Japan and Taiwan.

This overseas expansion is billed as a way for the company to serve

its existing customers by locally supporting their technology and

marketing needs, and by promoting their services to potential

customers in the region.

"The expansion in the Asian market is a result of steady, organic

growth derived from increased business from our customer base," said

Mike Harris, president and COO. "The Asian market is critical to

Digital 5 success, and is a natural extension of our accelerating

success in the embedded software space."

Digital 5 Inc., 101 Grovers Mill Road, Quakerbridge

Executive Center, Suite 200, Lawrenceville 08648. Gary Hughes, CEO.

609-243-0015; fax, 609-243-9231. Home page: www.digital5.com

Top Of Page
Clinical Trials

Zargis Medical Corp., 755 College Road East, Princeton

08540. Shahram Hejazi, president and CEO. 609-734-6510; fax,

609-734-6565. Home page: www.zargis.com

Zargis reports that a clinical study has demonstrated its technology

can help forestall cases of sudden cardiac death in young athletes.

Its computer-assisted heart sounds analysis algorithm identified

patients flagged by a cardiologist as having symptoms of obstructive

HCM, which is implicated in one-third of youths’ sudden cardiac death.

Sometimes these symptoms are not easily detected by those who are

conducting physical examinations.

"There is a clear and immediate need for a cost effective screening

method that could help to identify young athletes at risk of sudden

cardiac death due to HCM," says John Kallassy, managing director.

Formed in January 2001 from the investments of Siemens Corporate

Research Inc. and Speedus Corp, Zargis develops advanced diagnostic

decision support products and services for primary care physicians,

cardiologists and other healthcare professionals.

Top Of Page
Deaths

David C. Oakley, 49, on October 8. He was vice president of IT systems

at Merrill Lynch.


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