In a blow to the new owners of the Rhodia site, Monroe Township
council has rezoned its half of the 82 acres that front the New Jersey
Turnpike. On October 4 it passed on ordinance changing the zoning for
46 acres from light industrial to office professional. The rest of the
acreage is in Cranbury.
The owners, Preferred Real Estate Investments Inc. of Conshohocken,
Pennsylvania, strongly objected to the zoning change and are expected
"The office market has been anemic for five years, but the industrial
markets will be consistent because there is serious pressure on our
ports," says Gerald Fennelly of NAI Fennelly, who spoke at the meeting
in support of the owners. He testified that office space has a vacancy
rate of more than 25 percent, compared with about 11 percent for
Confronted with the possibility that the campus could remain vacant
for a long time, town council members said that safety and quality of
life were more important than tax revenue.
Innophos, a phosphate company that formerly belonged to Rhodia, is the
only occupant of this almost empty campus, which has 13 buildings and
310,000 square feet vacant. Rhodia, which had owned its campus for 15
years, moved to Cedar Brook Corporate Center earlier this year. The
property is known now as Mid-Atlantic Corporate Center.
"Sometimes the buildings actually vibrate from trucks going by on the
turnpike," says Fennelly, who is marketing another Preferred Real
Estate Property, the Technology Center at Princeton on Carter Road.
"It may take a long time – and they know it – to get an office user to
Top Of PageExpansions
Paradigm Technology Consulting LLC, 2133 Route 33, Hamilton Square
08690; 609-890-4150; fax, 609-890-4154. Bridgette Hobart, president.
Home page: www.ptcllc.com
A company that tracks truck drivers is moving up. On Friday, October
20, Paradigm Technology Consulting is set to move from 3,600 square
feet at Lexington Square Commons on Route 33 to 3,700 feet at Windsor
Corporate Park. "We wanted a more corporate environment," says Jason
Pintinalli, marketing manager. The new address will be 50 Millstone
Road, Building 400, Suite 150.
The company does business systems planning, project management, CRM,
network design, and business analytics and training. It is a Microsoft
Gold Certified Partner and is the sole distributor of Distinctive
Systems Coach Manager and Vehicle Maintenance Systems. One of its
programs captures all the data recorded by drivers on charter,
contract, or internal trips, including driver advances and expenses,
fuel purchases by state, daily mileage recordings by state, and type
of travel and payroll information.
Lear & Pannepacker CPAs, 791 Alexander Road, Princeton 08540;
609-452-2200; fax, 609-452-1065. Eric Robert Lear, managing partner.
Eric Robert Lear and Scot D. Pannepacker have merged their practice,
Lear & Pannepacker LLP with that of Joanne Linda Waxman, formerly at
44 Princeton Hightstown Road.
Lear founded the firm in 1984 with his friend, the late Gary
Pannepacker, and established the first office on Nassau Street in
downtown Princeton. Scot Pannepacker, Gary’s brother, joined the firm
full-time in 1990. In 2003 the firm bought the 7,100 square-foot
building known as the Treehouse, the first structure designed by
Robert Hillier for his park on Alexander Road.
It provides such services as strategic business planning, estate and
trust compliance, business valuation, litigation, and business
transaction support. Waxman founded her firm in 1967, and one of her
focuses is the tax and financial challenges of the elderly.
Lear went to Rider College, Class of 1979, and worked for WithumSmith
& Brown before opening his own firm on Nassau Street along with the
late Pannepacker. "I wanted to have more control over the time and
attention I gave to each client," says Lear. He focuses on fee-based
financial planning, management consulting, and ancillary consulting
services. For instance, he helped a recent client come up with a
five-year-plan to sell his business. "I like to add value to someone’s
life, in addition to doing tax reporting," says Lear.
Lear got his feet wet doing accounting in an entrepreneurial situation
when his 18-year-old sister opened a flower store in northeastern
Philadelphia. At age eight, he helped his mother to keep the books.
Later his father, who worked as an airplane mechanic, showed him a
newspaper article claiming that 80 percent of the nation’s CEOs
started out in accounting. Overall, the family business taught him
"hard work and integrity, which is what we have in our business. We
work intensively and in off hours, and there can be no second
"To the general public accounting may seem to be a routine process,
when, in fact, there is a tremendous opportunity to use information
from financial statements and tax returns to better understand
opportunities for the growth of a business or personal net worth,"
says Lear. "We believe in an added value approach to make or save
SMC Fixed Income Management LP, 5 Vaughn Drive, Suite 119, Princeton
08540; 609-228-1501. Vincent R. Giordano, president/senior portfolio
SMC recently acquired Claymore Advisors from Claymore Securities. The
seven-person firm specializes in fixed income mutual funds and
separately managed portfolios. Claymore Advisors was nearly three
Top Of PageManagement Moves
Mathematica Policy Research Inc., 600 Alexander Park, Suite 100,
Princeton 08540; 609-799-3535; fax, 609-799-0005. Charles E. Metcalf,
president. Home page: www.mathematica-mpr.com
As of January 1, Charles Metcalf will step down as CEO and president,
and Paul Decker, current executive vice president and COO, will take
over. The company does public policy research and surveys for federal
and state governments, foundations, and private-sector clients.
Metcalf has been president and CEO of Mathematica since 1986 and had
been director of research from 1975 to 1986. Decker earned his
economics PhD from Johns Hopkins University.
Top Of PageCrosstown Moves
Borden Perlman, 2000 Lenox Drive, Suite 202, Lawrenceville 08648;
609-896-3434; fax, 609-895-1468. Douglas Borden, president. Home page:
Borden Perlman, a third-generation, family-owned insurance company,
moved in August from 7,000 square feet at 2850 Brunswick Pike to 8,600
square feet at 2000 Lenox Drive. The 30-person company wanted more
The property and casualty agency came about as the result of a 1995
merger between WS Borden Co., which originally specialized in
industrial and manufacturing insurances and operated at 224 West State
Street, and Perlman Insurance, which sold mostly commercial and retail
insurance from 133 Franklin Corner Road.
Compliance & Ethics Learning Solutions DBA Midi Inc., 101 Morgan Lane,
Suite 301, Plainsboro 08536; 609-955-5100; fax, 609-924-9207. Thomas
Parry, CEO. www.midicorp.com
Compliance & Ethics Learning Solutions, known as Midi, has moved from
9,200 square feet at 100 Thanet Circle in Princeton to Enterprise
Business Park in Plainsboro. According to an October 3 press release,
president and CEO Elizabeth Tomaszewicz has left the company for
personal reasons and Thomas Parry, formerly senior vice president for
sales and global services, replaces her.
Midi provides compliance and ethics programs and services for Global
P&A Management, 1207 Route 156, Hamilton 08620-1700; 609-587-3775;
fax, 609-588-4980. Albert L. Pellegrino, president.
P&A Management, which manages condos and townhouses, moved from 500
square feet at 2277 Route 33 in Hamilton Square to 1,000 square feet
The Cleave Group LLC, 2 Tree Farm Road, Suite A-300, Pennington 08534;
609-818-9534; fax, 609-818-9535. William F. Cleave, president.
The Cleave Group, which helps insureds and insurers with risk
management issues, moved from 26 Hedgecroft Drive to 2 Tree Farm Road.
Group Five, 1 Airport Place, Princeton 08540; 609-924-3771; fax,
609-924-4029. Jack Sunday, president. www.groupfiveinc.com
Group Five, a 16-year-old international independent consulting and
research firm, has moved from 35-37 Tamarack Circle to 1 Airport
Place. It focuses on customer research for financial services.
Top Of PageLeaving Town
Targent, 181 Cherry Valley Road, Princeton 08540. www.targent.com
Targent Inc. sold its oncology assets to a California-based firm and
vacated its office on Cherry Valley Road, which is also the office for
venture capitalist Bob Johnston. Patrick McGuire resigned as Targent’s
Targent, a specialty pharmaceutical firm, hoped to take drugs now
administered intravenously and turn them into oral compounds, which
are more convenient and less expensive (U.S. 1, July 17, 2002).
The buyer was Spectrum Pharmaceuticals Inc., 157 Technology Drive
Irvine, CA 92618 (949-788-6700). It trades on Nasdaq as SPPI.
UGI Energy Sources Inc., 704 East Main Street, Suite I, Morristown
08054; 856-273-9995; fax, 856-273-9996. Robert Topolski, sales
Ed Tuohy retired and closed a regional office of UGI Energy Sources at
1230 Parkway Avenue, Parkway Corporate Center, in West Trenton. Robert
Topolski is the regional manager in Morristown. The company focuses on
energy purchasing plans for businesses.
Visiting Angels, 812 State Road, Princeton 08540; 609-430-8499.
Christian Kongolo, director. www.visitingangels.com
Christian Kongolo closed his Visiting Angels franchise on Route 206.
Peter Broskie, another Visiting Angels franchisee, is still open in
Monroe Township (732-656-7720). This firm offers non-medical respite
care for caregivers including errands, transportation, light
housekeeping, and hygiene.