Crime Watch

JDS Downsizes

Real Estate Moves

Expansions

Leaving Town

Deaths

Corrections or additions?

These articles were prepared by Barbara Fox for the April 27, 2005

issue of U.S. 1 Newspaper. All rights reserved.

Life in the Fast Lane

Whatever happened to that "glass house" at 1315 Canal Road that at one

time was on the market for $18 million and failed to sell at auction

for $3 million?

It did get sold, six months after the auction, in October, 2003, for

$2.5 million.

To recap: In 2001 John and Prudence Morgan Boulton had put the house,

called Chalan Farm, on the market for $18 million, then reduced it to

$12 million. Boulton declined to say what it cost to build the house

he had designed himself. The house is 425 feet long, with

floor-to-ceiling octagonal glass pavilions that offer a 360-degree

view to the outside. With 17,000 square feet on the glass-walled

ground floor, and the same amount of space in the basement, the house,

at sale time, had just four bedrooms and four baths. It also had

14-foot ceilings, an indoor pool, a Jacuzzi, an eight-car garage, a

4,000 gallon liquid gas storage system, a $1.5 million HVAC system, a

25-line telephone feed, recording studio, wine cellar, gym, and row

upon row of industrial shelving.

When the house first went on the market, interviews with contractors

revealed that the very exacting homeowner had disputed some of their

charges (U.S. 1, December 12, 2001).

After the house did not sell for $12 million, the Boultons hired

Alabama-based J.P. King Auction Company to sell it in spring, 2003

(U.S. 1, April 23, 2003).

Some of the disputes with contractors apparently escalated. At the

time of the auction, caveats on the auctioneer’s web page disclosed

litigation regarding the curtain wall and cement floor installations.

At least one contractor is still in litigation with the Boultons.

The new owners are Mr. and Mrs. Gunther Bright of Manhattan. Bright,

an executive with American Express Global Corporate Services, has said

he would prefer to leave his plans for the unusual property

"unspecified."

The Boultons, who said they were selling the house to move to New York

City, have turned up in Marietta, Ohio, where they bought a

four-bedroom house for less than $286,000.

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Crime Watch

Every accountant knows that internal theft – products going out the

door in the pockets of an employee – can wreak havoc with a company’s

profit margin. Victory Packaging, on Corn Road in Dayton, successfully

faced and conquered that threat, with the result that it was able to

clean house and have two employees arrested by South Brunswick

Township police.

It was a textbook example, says Detective James Ryan, of how a company

can make an open-and-shut case to prove internal theft. "The company

realized that it had product loss last year," says Ryan. "They were

not able to specify the loss because of record keeping issues. At one

point in time $20,000 of tape was missing. So they changed management

and made internal changes."

One evening Victory’s security staff audited the contents of the all

the trucks and found that one truck had more products than it was

scheduled to have. When the truck left the dock on March 22, it was

tailed by a security team with a video camera.

"The drivers were having someone load extra packaging material and

adding extra loads onto their trucks," says Ryan. "Some of the normal

customers they were delivering to were paying paid cash on the side.

Customer loyalty had been deeply eroded."

"Company officials told us mid-day that they were trying to confirm

their suspicions," says Ryan. "When the driver stopped at a location

that wasn’t on the list, they alerted us. We stopped the truck when it

came back to South Brunswick. Before he knew what we were looking for,

the driver denied he had many of those stops, and then we produced the

video tapes."

The two arrested employees, according to a report in the South

Brunswick Sentinel, were Miguel Tejada, 34, and Sergio Gomez, 39.

Gomez was allegedly the worker who loaded merchandise onto Tejada’s

delivery truck. They were charged with the theft of about $10,000 in

merchandise, and they posted bail.

In this case, says Ryan, "the bulk of the work had been done by the

company. We have cases all the time where the documentation isn’t

sufficient to prove a criminal charge."

Victory Packaging, 8 Corn Road, Dayton 08810.

732-274-1745. Michael O’Malley, manager.

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JDS Downsizes

On April 20 JDS Uniphase, a manufacturer of optoelectronic devices for

fiber optic communications networks, announced it will reduce its

manufacturing jobs by more than 15 percent. The R&D jobs will stay in

Ewing, but the manufacturing jobs will disappear.

Some jobs in Ewing will be combined with those in Melbourne, Florida,

and go to Shenzhen, China. This will take place by the end of the

year. Additional manufacturing jobs in Ewing and Mountain Lakes will

be transferred to Thailand-based Fabrinet, JDS Uniphase’s

manufacturing partner, by the end of June.

"These initiatives are part of a multi-quarter business transformation

strategy for JDS Uniphase to achieve profitability by reducing cost

structure and improving corporate agility," said CEO Kevin Kennedy in

a press release. "We firmly believe that our ability to restructure

major operations and rationalize our current portfolio, while

investing in next-generation products, positions JDS Uniphase for

success and differentiates us from the competition."

JDSU also has manufacturing sites in Ottawa and Santa Rosa and San

Jose, California. As of April 4, there were 350 jobs on Ludlow Drive.

JDS Uniphase (JDSU), 200 Ludlow Drive, Ewingville

Business Park, Ewing 08638. 609-538-1800; fax, 609-538-8122. Home

page: www.jdsu.com

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Real Estate Moves

NAI Fennelly Inc., 3535 Quakerbridge Road, Ibis Plaza,

Suite 102, Hamilton 08619-1209. Gerard J. Fennelly, president.

609-520-0061; fax, 609-631-9208. Home page: www.fennelly.com

Plainsboro is getting a new mixed-use lifestyle community, Plainsboro

Village Center, and Jerry Fennelly of NAI Fennelly is in charge of

leasing the office component for the builder, Sharbell Development

Corp.

It will be located on Scudders Mill Road, across Schalks Crossing Road

from an existing shopping center, Plainsboro Plaza. In addition to a

"village square" with a total of 48,000 square feet and a mix of

residential homes, there will be nearly 55,000 square feet of office

space. The first building will have 5,750 feet of office space and

7,250 feet of retail space.

"Steel is in the air," says Fennelly. "It’s not often that you find a

property with the convenience of office/retail space and yet with

housing just a stone’s throw away." The first building is expected to

be finished by September.

Housing was the component that was missing from Princeton Forrestal

Village in 1987. Theoretically, homeowners from Princeton Landing were

going to take advantage of the retail and office environment of

Forrestal Village, but a road was never cut through, and the residents

had to get in their cars and drive to PFV.

The Plainsboro Village Center may be more effectively compared to the

successful Washington Town Center. "We’re seeing a growing demand by

users who want the convenience of leaving their office or home and

being able to walk to pick up coffee, dinner, or dry cleaning with

just a few short steps," says Tom Troy, senior vice president of

Sharbell.

The quintessential combo of housing, office, and retail is of course,

Palmer Square. But Plainsboro presumably won’t have parking problems.

Melendez Realty Services LLC, 1369 South Broad Street,

Trenton 08611. Carmen Melendez. 609-392-2900; fax, 609-396-0721.

Carmen N. Natal-Melendez is expanding her real estate company by

opening a second Trenton office, across from City Hall, at 320 East

State Street. Her focus is to train low and moderate income families

for homeownership opportunities in the city.

"One of our main goals," says Melendez in a press release, "is to

educate families – whether they work, visit, or are touring the

downtown area – to show them the many homeownership opportunities in

the City of Trenton."

The company closed more than $43 million in sales volume since it was

founded less than a year ago, and agents have trained more than 250

families.

Patrinely Group, 150 College Road West, Suite 150,

Princeton 08540. Phillip Benjamin, 609-514-1799; fax, 609-514-1791.

Home page: www.patrinely.com

The sale of 100 and 150 College Road West closed in late March,

according to the online trade publication GlobeSt.com. The Patrinely

Group developed the two buildings, along with an investment fund, and

sold it to New Valley Corporation, based in Miami, for $54 million in

2003. Two years later, New Valley has turned it around to sell it for

$71.5 million, according to GlobeSt, which quoted a "source with

knowledge of the transaction" as saying that the buyer is a

Swiss-based investment group.

The 225,700-foot complex is the North American headquarters of Novo

Nordisk, and another major tenant is American Re. Included are a

full-service cafeteria, a fitness center, and nine parking spaces.

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Expansions

Accelera Corporation, 240 Princeton Avenue, Suite 176,

American Metro Center, Hamilton 08619. Ian Kelly, managing director of

sales and marketing. 609-221-2988; fax, 609-912-0607. Home page:

www.accelera.com

At the end of this month Accelera Corporation will expand my moving a

35-person office from 3131 Princeton Pike to 10,750 square feet at the

American Metro Center.

Founded in 1981, Accelera develops custom content for the

life-sciences industry to accelerate the global adoption of advanced

medical products. It has content creation products for sales training,

product launches, virtual preceptorships, casebased learning,

marketing communications, continuing medical education, medical video

production.

Accelera Corporation bought Kenexa’s Learning Solutions Group in 2004,

and the company in Princeton has also been known as Raymond Karsan

Associates. Accelera is a licensee of Johns Hopkins University.

Kim Theobald, manager of corporate services, is the human resources

contact and Tony Zorc, controller, is in charge of purchasing.

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Leaving Town

Minarik Automation and Control, 85 Robert Porter Road,

Southington CT 06489. 800-486-2190; fax, 860-621-9376. Home page:

www.minarikcorp.com

The four-person distribution center for a manufacturer of motion

control equipment has closed on North Center in North Brunswick. Sales

are being handled in Connecticut.

The firm primarily makes DC controls, but also manufactures a line of

compatible products which includes positioning tables, motors,

controls, brakes, clutches, sensors, relays, and robots. The

family-owned firm is headquartered in Glendale, California.

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Deaths

Thomas Gibney, 57, on April 9, of ocular melanoma. He was a computer

programmer at Princeton Plasma Physics Laboratory.

Benjamin B. Tregoe Jr., 77, on April 20. He was co-founder and

chairman emeritus of Kepner-Tregoe Inc., an international management

consulting firm on Research Road.

Paul R. Foley on April 21. A 1954 graduate of the U.S. Naval Academy,

he retired in 2003 from the New Jersey Economic Development Authority.

Thomas S. Madiara 20, on April 24. He was the Internet manager for

Audi of Princeton.

Corrections or additions?


This page is published by PrincetonInfo.com

— the web site for U.S. 1 Newspaper in Princeton, New Jersey.

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