Where’s Mikros?

Leaving Town

Stock News

Expansions

Venture Winners

Crosstown Moves

Deaths

Corrections or additions?

These articles by Barbara Fox were published in U.S. 1 Newspaper

on May 27, 1998. All rights reserved.

Life in the Fast Lane

The Traiman auctioneers said they would be pleased

if the land fetched as high as $1.5 million. Sure enough, last

Wednesday,

May 20, auction fever grabbed some of the buyers and the final total

was $1.7 million for 23 acres of land in two parcels on Brunswick

Pike (Alternate Route 1) next to Greenfield Dodge.

That three auto dealers bid against each other helped to rev up the

price. Bob Maguire, Al Haldeman, and Dick Coleman vied for the first

and most valuable parcel of 10.4 acres. At the last gavel, Maguire,

who owns Saturn dealerships in Bordentown Township and Toms River,

found he had paid $1.1 million or just over $100,000 an acre to bring

a Saturn dealership to Princeton.

Maguire’s purchase casts a shadow on the development of a flagship

General Motors auto mall, one of the first in GM’s Project 2000, which

aims to consolidate dealer locations. Maguire was being urged by GM

to move into that mall, near the Department of Motor Vehicles and

Quakerbridge Mall, but he strenuously disliked the idea of paying

$40,000 per month as a tenant, and he resented being shunted to the

back with no highway frontage. Earlier, he had rejected the current

Lexus site at the Mercer Mall because it did not have highway

frontage.

Haldeman and Coleman bid on the second parcel to be auctioned, the

slightly less desirable 12.8 acre site between Maguire’s territory

and Greenfield Dodge. It contains some wetlands and the Marroe Inn

restaurant and bar. Haldeman now has the Lawrence Lexus dealership

at the Mercer Mall and Coleman owns Coleman Buick-Pontiac-GMC on

Spruce

Street in Ewing. Coleman is also among the dealers being pushed by

General Motors to move to its planned Route 1 auto mall.

Haldeman won, paying $606,000 for 12.8 acres and will

abandon his one-acre site at Mercer Mall in favor of more room and

more visibility. He has not commented on whether the Marroe Inn will

be allowed to stay.

"These things take on a different personality with each

auction,"

says Doug Clemens, the Traiman auctioneer for Lawrence Holdings Inc.,

formed to manage and eventually dispose of the holdings of Heinemann

Electric (U.S. 1, May 13). "People come there with a set figure

in their minds, and the auction psychology works, and maybe they end

up spending more than they had expected."

Eighteen potential buyers had obtained a bidders’ package and 14

registered

on the auction day. "I saw all those people," says Maguire,

"and my jaw dropped, and I thought `It is going to be a tough

day. I hope I prevail.’"

Maguire has been trying for five years to find highway frontage in

the neighborhood of Princeton, where he lives with his wife, Marcy,

who is also in the Saturn business, and their son, who attends

Lawrenceville

School. The Maguires built the first Saturn dealership in Bordentown

in 1990 and opened in Toms River in 1993.

Maguire had already looked at the Heinemann site, "but they were

asking $3 million, or $300,000 an acre, for the land I paid $1.1

million

for."

Was that still too much for the future site of Saturn of

Lawrenceville?

"No," says Maguire, "in fact I had budgeted $1 million

for the purchase." He compares it to what General Motors paid:

$5.6 million or $250,000 an acre for land with a traffic count of

45,000 vehicles a day. "At the site I purchased the traffic count

is 22,000, or about half. Take $250,000 and halve it and I guess I

came pretty close to what GM paid."

Maguire hopes to open by next year and considers himself in good

company,

next to the largest Dodge dealer in the country and a new Lexus

location.

Just north is a recently built Mercedes Benz dealership, plus Lawrence

Lincoln Mercury, and Volvo and Porsche Acura dealerships. "My

complements to Lawrence Township to have had the foresight to plan

for auto dealerships in their municipality," says Maguire.

"They

have developed a very handsome automotive row. It is nice to do

business

in a community that welcomes your business."

— Barbara Fox

Top Of Page
Where’s Mikros?

Mikros Systems Corp., 5 Vaughn Drive, Box 7189,

Princeton 08543. Steve Denty, president. 609-987-1513; fax,

609-987-8114.

The computer research and development firm quietly moved last month

from Princeton Service Center to 5 Vaughn Drive. So quietly that the

landlords, Cali Realty, have not yet been informed that Mikros is

subletting from another tenant, Princeton Venture Research. Steve

Denty, the president, was traveling and was not available to answer

a reporter’s calls.

Five years ago, when Mikros focused on making high tech communication

and control systems for the defense department, it was the recipient

of New Jersey Commission on Science and Technology’s first Small

Business

Innovation Research loan in 1993.

PrimaTech Inc., 445 Hutchinson Avenue, Suite 200,

Columbus 43235. Paul Baybutt, president. 614-841-9800; fax,

614-841-9805.

Home page: http://www.primatech.com.

PrimaTech closed its six-person office on 5 Vaughn Drive and calls

are being answered by its headquarters in Columbus. It does software,

training, and consultation to aid compliance with state and federal

process safety management regulations.

Top Of Page
Leaving Town

PrimalCast, 601 Ewing Street, Suite C-12, Princeton

08540. Steven Barth, president. 609-921-1525; fax, 609-921-8982.

E-mail:

info@webaffinity. Home page: http://www.primalcast.com.

In April, a year after opening a Web hosting services for local

business,

Steve Barth and Stephen J. Dempsey closed this office and left no

forwarding number. The pair also had another firm, Web@affinity, for

Web development for the nonprofit community on a national level. Barth

and Dempsey had started a trade show firm, Atlantic Information

Management,

but that closed in February, 1997.

Top Of Page
Stock News

Interpool, 211 College Road East, Princeton 08540.

Martin Tuchman, chairman and CEO. 609-452-8900; fax, 609-452-8211.

Home page: http://www.interpool.com.

Interpool bought half of San Francisco-based Container Applications

International for an undisclosed price. The transaction was announced

earlier this month. Interpool trades as IPX on the New York Stock

Exchange and does chassis pool management, and chassis & container

leasing systems.

RCN Corporation, 105 Carnegie Center, Suite 300,

Princeton 08540. David C. McCourt, chairman and CEO. 609-734-3700;

fax, 609-734-3875.

To improve the liquidity and marketability of its shares, RCN

announced

a a two-for-one stock split, payable in the form of a 100 percent

stock dividend. Formerly known as C-Tec the telecommunications firm

offers local telephone, long-distance, cable, engineering, and

internet

access.

RCN Corporation plans to sell $250 million in common stock,

according to an announcement made last Friday. Merrill Lynch, Salomon

Smith Barney, NationsBanc Montgomery Securities, Donaldson Lufkin

& Jenrette, and Prudential Securities will be the underwriters. The

firm trades as RCNC on Nasdaq.

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Expansions

Want to figure out how your product’s name will stand

up in the consumer marketplace? Princeton Research & Consulting might

have an answer for you.

The market and litigation research firm just took 1,200 square feet

at 12 Roszel Road. It moved from Princeton Service Center, 3490 Route

1. Headed by Leon Kaplan, Ph.D., the firm specializes in litigation

research, but also does a variety of other kinds of research. The

list includes concept testing, name testing, idea generation, focus

groups, methodology review and evaluation, image research, and name

testing, says Terri Salat, vice president of field operations.

Kaplan, 55, has an undergraduate degree from Brooklyn College (Class

of 1966) and has several other degrees: a masters in general

industrial

psychology from Purdue University and a Ph.D in consumer and

industrial

psychology, with a minor in social research methods and personnel

selection, also from Purdue. Kaplan also has an MBA from Wharton,

which he received in 1979, the year he started the company.

Currently there are five fulltime employees.

Princeton Research & Consulting Center Inc., 12

Roszel Road, Suite C-103, Princeton 08540. Leon B. Kaplan, president.

609-520-1141; fax, 609-520-1790.

Top Of Page
Venture Winners

These four firms from Princeton were among 10 companies

that received significant awards at the 1998 New Jersey Venture Fair

on Wednesday, May 20, in Somerset. (U.S. 1 Newspaper’s articles on

these firms may be found in Princeton and Plainsboro public libraries

and at http://www.princetoninfo.com.)

Most Likely to Succeed: ITXC Internet Telephony Exchange

Carrier, 219 North Center Drive, North Brunswick 08902. Tom Evslin,

CEO. 732-940-4333; fax, 732-940-4334. E-mail: maevslin@itxc.com.

Home page: http://www.itxc.com. Internet telephony

services

to the emerging industry — wholesale call routing, authorization,

and settlement. (U.S. 1, September 17, 1997).

Best Management Team: Delsys Pharmaceutical Corporation,

Box 8738, Princeton 08543. Martyn Greenacre, president and CEO.

609-720-0033;

fax, 609-520-6692. Privately-held developer of automated drug

manufacturing

and drug delivery systems through electrostatic dry powder, created

by Sarnoff Corporation and Healthcare Ventures (U.S. 1, September

17, 1997).

Most Innovative: Katrix Inc., 31 Airpark Road, Princeton

08540. Stephen Lane, president. 609-921-7544; fax, 609-921-7547.

E-mail:

info@katrix.com. Technology development of interactive computer

animation

technology for the computer and entertainment industries (U.S. 1,

May 11, 1994).

Most Likely to Go Public: Sycom Technologies Inc., 1239

Parkway Avenue, Ewing 08628. Ari Naim, managing director.

609-530-0200;

fax, 609-530-0217. Total Recall digital voice recorders and PC Audio

Link software (U.S. 1, October 9, 1996).

These "runner-up" firms were among the 60 chosen from more

than 100 to be exhibitors at the Venture Fair.

Etsee Soft Inc., 114 West Franklin Avenue, Straube Center,

Suite K,2, Pennington 08534. Sheshadri Mantha, owner/president.

609-730-9180;

fax, 609-730-9663. Home page: http://www.etseesoft.com.

The eight-person firm does software consulting for UNIX, DOS, and

Windows specializing in field or sales force automation software and

application localization for the Japanese market (U.S. 1, November

6, 1996).

SBX, 15 Normandy Court, Skillman 08558. Larry Shiller,

chairman. 609-466-4005; fax, 609-466-6837. Home page:

http://www.sbxnet.com.

Web-based stock trading and automated bulletin board trading; see

page 14.

STG International LLC, 4365 Route 1 South, Princeton

08540.

Thomas D’Innocenzi, president & CEO. 609-514-5005; fax, 609-514-9850.

Home page: http://www.stgcorporate.com. Contracting of

IS professionals, managed care systems, development and implementation

of Internet products and intranets, and virtual classrooms —

building

cognitive engines with artificial intelligence that make the concept

of virtual classrooms more versatile. (U.S. 1, March 12, 1997).

Xlibris, 36 South Broad Street, Trenton 08608-2102. John

Feldcamp, president. 609-278-0075; fax, 609-278-0445. Home page:

http://www.XLIBRIS.com . Publishing on demand (U.S. 1, May 6).

Top Of Page
Crosstown Moves

Signature Title Services, 47 Hulfish Street, Suite

420, Princeton 08542. William A. Slover, president. 609-497-4800;

fax, 609-497-4597. E-mail: courthouse@sprynet.com.

Courthouse Abstract Company moved from 82 Nassau and has changed its

name to Signature Title Services/Survey.

Top Of Page
Deaths

Joan Briscoe, 54, on May 18. She was a teacher’s aide

in Princeton Regional Schools.

James Sinnis, 62, on May 20. He did fusion research at

Princeton Plasma Physics Laboratory.

Grant Dickson Green III, 71, on May 22. As Princeton

University’s

real estate director from 1970 to 1978 he helped plan the creation

of the Forrestal Center. A memorial service is Thursday, May 28, at

2 p.m., at the Unitarian Church of Princeton.

n

Corrections or additions?


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