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
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
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
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
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
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
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
Was that still too much for the future site of Saturn of
"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
next to the largest Dodge dealer in the country and a new Lexus
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.
have developed a very handsome automotive row. It is nice to do
in a community that welcomes your business."
— Barbara Fox
Princeton 08543. Steve Denty, president. 609-987-1513; fax,
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
Innovation Research loan in 1993.
Columbus 43235. Paul Baybutt, president. 614-841-9800; fax,
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.
08540. Steven Barth, president. 609-921-1525; fax, 609-921-8982.
In April, a year after opening a Web hosting services for local
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
but that closed in February, 1997.
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
Princeton 08540. David C. McCourt, chairman and CEO. 609-734-3700;
To improve the liquidity and marketability of its shares, RCN
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
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.
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
psychology from Purdue University and a Ph.D in consumer and
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.
Roszel Road, Suite C-103, Princeton 08540. Leon B. Kaplan, president.
609-520-1141; fax, 609-520-1790.
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.)
Carrier, 219 North Center Drive, North Brunswick 08902. Tom Evslin,
CEO. 732-940-4333; fax, 732-940-4334. E-mail: firstname.lastname@example.org.
Home page: http://www.itxc.com. Internet telephony
to the emerging industry — wholesale call routing, authorization,
and settlement. (U.S. 1, September 17, 1997).
Box 8738, Princeton 08543. Martyn Greenacre, president and CEO.
fax, 609-520-6692. Privately-held developer of automated drug
and drug delivery systems through electrostatic dry powder, created
by Sarnoff Corporation and Healthcare Ventures (U.S. 1, September
08540. Stephen Lane, president. 609-921-7544; fax, 609-921-7547.
email@example.com. Technology development of interactive computer
technology for the computer and entertainment industries (U.S. 1,
May 11, 1994).
Parkway Avenue, Ewing 08628. Ari Naim, managing director.
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.
Suite K,2, Pennington 08534. Sheshadri Mantha, owner/president.
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
chairman. 609-466-4005; fax, 609-466-6837. Home page:
Web-based stock trading and automated bulletin board trading; see
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 —
cognitive engines with artificial intelligence that make the concept
of virtual classrooms more versatile. (U.S. 1, March 12, 1997).
Feldcamp, president. 609-278-0075; fax, 609-278-0445. Home page:
http://www.XLIBRIS.com . Publishing on demand (U.S. 1, May 6).
420, Princeton 08542. William A. Slover, president. 609-497-4800;
fax, 609-497-4597. E-mail: firstname.lastname@example.org.
Courthouse Abstract Company moved from 82 Nassau and has changed its
name to Signature Title Services/Survey.
in Princeton Regional Schools.
Princeton Plasma Physics Laboratory.
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.
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