Aegis Property Group
Meeting clients’ complex real estate needs
With an integrated mix of development, project management and transaction management services, Aegis Property Group has completed over $3 billion of significant projects and transactions for major corporations and institutions in the Mid-Atlantic region and beyond. The Aegis portfolio spans many sectors, including office and commercial, healthcare, hospitality, education, research and technology, and institutional projects. Aegis also has joint ownership in Eventus Strategic Partners, which focuses solely on the senior living market.
Founded in 1980 and based in Philadelphia, Aegis has two sides to its business. The project management group manages a range of functions for clients, from project conceptualization through planning, approvals, design, procurement, construction, and occupancy. Aegis translates a client’s goals and objectives into clear, concise project parameters and then manages a team ranging from architects, engineers and contractors to marketing consultants, financial consultants and lawyers to meet those objectives.
In New Jersey, the firm has managed over 1.65 million s.f. of new development in Mercer and Camden counties, including major projects for Lockheed Martin and General Electric. It also managed the development of State Street Square, the premier office complex in downtown Trenton; the development of several speculative office buildings in Princeton Forrestal Center; and one of the largest and most modern book depository facilities for a consortium of Princeton University, Columbia University and the New York Public Library. Aegis is presently involved in three Virtua Health ambulatory care medical office building developments in New Jersey.
In Pennsylvania, Aegis has managed a number of large and complex real estate projects for clients as well. Currently, Aegis is working on the Barnes Art Education Center, which will be constructed on the Benjamin Franklin Parkway in downtown Philadelphia; WHYY’s Learning Lab; Villanova University Law School; a six phase, $25 million renovation of the Union League of Philadelphia; and the American Cancer Society Hope Lodge on the campus of Fox Chase Medical Center.
The other side of Aegis’s business is transaction management – the representation of owners and users in the acquisition, disposition and leasing of real estate. The firm currently represents over 1.3 million s.f. of office space on behalf of third party owners or investment partnerships, generally where Aegis is a partner. Aegis represents 600, 650 and 750 College Road in Princeton Forrestal Center; State Street Square in Trenton; and Lower Makefield Corporate Center and One Summit Square in Bucks County, PA.
Aegis has also represented clients such as the University of Pennsylvania Health System in its disposition of excess real estate assets in its acquisition of the Graduate Hospital properties in Center City, Philadelphia; and negotiated the ground lease on behalf of Amtrak for the Cira Centre tower at 30th Street Station in Philadelphia. It also recently represented a trust client in the disposition of a ground lease under 800,000 s.f. of commercial properties in Jenkintown, PA
Aegis Property Group has a well-deserved reputation for excellence and measures its success by the satisfaction of its clients. Over 70 percent of Aegis business is repeat business. Keeping clients, project after project, is a testament to Aegis’s formula for delivering efficient, effective, and predictable results.
From Commercial to Retail Bonanni offers a half-century of experience
When most businesses say they “do it all,” it’s often just an advertising slogan. At Bonanni Realtors that claim is backed up by more than 50 years of service representing commercial real estate clients in transactions involving office buildings to shopping centers, warehouses to vacant land, 1,000 square feet to 500,000 square feet.
“We are an aggressive company that has built its business around commercial, investment, and professional properties. We handle all types of businesses,” says David Bonanni, agency owner. “Our list of satisfied customers also include convenience stores, restaurants, liquor stores, beauty salons, automotive shops, and much more.”
What’s the key to a half century of success in this demanding field? “We have built our reputation on being there when our clients need us and always returning our phone calls,” says Bonanni. “We pride ourselves on having the experience and personality to complete every transaction. Our years of service in the business have enabled us to maintain one of he finest client lists available.”
“No one in the entire marketing area has sold more commercial real estate than Bonanni Realtors,” says Bonanni. “We have the best sales and lease commission structure in the marketplace. Our advertising program is the most extensive around, and there are never any advertising charges for our clients.”
The staff includes five brokers and 20 full and part-time sales agents with a separate property management division. The firm recently welcomed six new agents: Marybeth Weidenhof, Jim Radvany, Monika Polakevic, Howard Height, Arlene Quille, and Arthur Suozzi.
The firm, which specializes in Mercer, Ocean, Burlington, Hunterdon, Monmouth, Atlantic,and Cape May counties, currently is working with the Patterson Chevrolet property in Hamilton; M & M Automotive in East Windsor; Burlington Mercury & Lincoln on Route 130; Simply Hair & Nails in Surf City, Long Beach Island; and a new car dealership in Manahawkin.
Bonanni Realtors also has been licensed in Pennsylvania and is branching out into Bucks County. “Look for more Pennsylvania properties coming soon,” says Bonanni.
The firm that does it all also has connections with other highly capable institutions. “With our experience comes a great team of local banks and lenders,” says Bonanni. “We receive loan commitments within 48 hours of submission. With the larger cap transactions we have funding available from major insurance companies and members of the New York Stock Exchange.”
Bonanni Realtors, 85 Route 33, Mercerville. 609-586-4300.
The Future Looks Bright: Run, But Don’t Hide
Prior to making a spectacular landing in the Hudson River, Capt. Chelsey Sullenberger told his crew and passengers: "Prepare for Impact." That’s what Jerry Fennelly, president of NAI Fennelly, has been doing his entire career.
Because he is prepared, Fennelly finds himself ready and able to serve his clients and his community. He continues to see opportunities, so he’s still experiencing success.
One of Fennelly’s key strategies for staying ahead of the curve: "Run, Don’t Hide." He recommends identifying the problem, understanding assets and developing a plan of increasing revenues while cutting costs. He says: "Look at yourself. Who am I, what else am I doing that can generate revenue?"
Fennelly diversifies by exploiting his strengths. On the personal side, he runs events and charity races to impact the community. He frequently conducts motivational speaking events on marketing and other topics. He gets himself out and about for greater top-of-mind recognition or, as he puts it: "I keep branding the company and the values we represent."
On the business side, he’s taken a hard look at opportunities that were not pursued because of his previous corporate real estate service success. For Fennelly, these include increasing property management, moving into commercial property auctions and consulting in bankruptcy work.
"You need to be at the right place at the right time, and you can do that by strategically planning," Fennelly added. "Look at the HVAC business — it’s now an energy savings business, and this industry will benefit from the ‘Stimulus Package.’ You also have to be nimble. The president of Postcardmedia.com saw her direct mail business waning, so she expanded into web design, social networking and motivational speaking. Thus far, 60,000 people follow her social networking site. We will be graded by the amount of people who follow you on a social network in the immediate future."
Fennelly suggests practicing "The "George Castanza Strategy" — the challenge we face when we are successful is that we create bad habits. He encourages everyone to look at their business habits – right down to that long lunch – and see if they are strategies that still are working. If not, actually do the opposite. Get rid of anything that doesn’t produce positive business results.
"I work longer hours," Fennelly said. "I changed my schedule to start the day earlier by going to the gym at 5:30 a.m. versus 6:30. When you go earlier, you are going to be around highly motivated people where business can be conducted. This type of strategy involves changing yourself and surrounding yourself with highly motivated people that are encouraged to help you to be successful."
In the long run, Fennelly advises smart businesspeople to "Walk The Talk." Transparency is the catch-word for 2009. Telling your vendors your new cost-reduction strategy won’t make them feel much better when you cut their budget, but it may help you in the long run. They know you’re a good client, but you needed to make strategic judgments," he noted. " A lot of times, good vendors will help you by giving you free or reduced fees for their services. These are the vendors to keep and cherish because they’re making your life easier as you make what may be perceived as dramatic changes. It’s about long term business relationships that will get you through these arduous times and make you more dominant at the beginning of our new economy."
Call Fennelly to speak at your next business meeting: by reaching him at 609-520-0061 or E-mail him at email@example.com.
Gerard Fennelly, president, NAI Fennelly Commercial Real Estate Services, Worldwide. 3525 Quakerbridge Road, Suite 908, Hamilton. 609-520-0061. Fax, 609-631-9208.
Strong market for medical office space
Larken Associates, New Jersey’s build-to-suit medical space specialist, is experiencing a good market in these uncertain times.
Catering to a full range of medical tenants for more than three decades, Larken Associates continues to have a strong tenant base. With the majority of its available portfolio in spaces between 630 and 4,000 square feet, Larken properties are the ideal size for organizations that are downsizing and individuals striking out on their own.
"We’re doing fine," said Victor Kelly, executive vice president of Larken Associates. "We have the experience to really know what medical professionals need. Our team – architects, engineers and construction professionals – have deep experience building medical suites."
Kelly says rental rates have come down a bit, and that he’s seeing an upturn now. In fact, he’s noticed some tenants are expanding and looking for bigger spaces to accommodate growth.
"Everyone isn’t going out of business," Kelly commented. "Our tenants are smaller companies that are nimble and adjusted to the environment. Things have definitely stabilized since last fall."
Larken Associates’ commitment to small businesses and medical professionals had made Kelly the area’s "go-to guy." He routinely works with physicians, dentists, hospital staff and other medical professionals to match Larken properties with their needs.
"What makes us unique is our ability to completely cater to medical professionals," Kelly said. "We know they’re busy with their practices and patients, so we step in and handle everything. Our team is knowledgeable, considerate and nice – there’s no worry when you work with us."
Available properties include small flex space in the Hillsborough Business Center ranging from 1,135 to 20,000 square feet; Princess Road Office Park in Lawrenceville, offering 800 and 1,000 square feet; Montgomery Commons Medical & Office Park in Princeton with 630 to 1,250 square feet; and Montgomery Professional Center in Skillman ranging from 1,000 to 4,000 square feet.
"Larken Associates’ properties are first-rate," added Kelly. "Plus, our team’s professional medical expertise, attention to detail and personal service takes the worry out of building professional medical space. We’re literally just what the doctor ordered."
Physicians, dentists and other medical professionals may learn more about Larken properties locally and throughout the area at www.larkenassociates.com or by contacting Kelly at firstname.lastname@example.org
Larken Associates. 249 Homestead Road, Building 5, Unit 11, PO Box 6989, Hillsborough. 908-874-8686. Fax: 908-874-6064. email@example.com. www.larkenassociates.com
Affordable commercial units with Modern Recycled Spaces
Taking older buildings and transforming them into fresh, modern commercial properties has been Modern Recycled Spaces™ niche for more than two decades. And, the company does it well.
While each property retains a hint of its historical character, the offices, flex spaces and warehouses created by Founder Daniel Popkin and his team, boast a host of amenities and the latest technology. All this, and affordable, too.
"Modern Recycled Spaces offers quality spaces at reasonable prices," explained Brian Rushing, director of Leasing & Property Management. "And, that’s just what businesses are looking for right now. We’re seeing a ton of activity, and are signing leases regularly."
A great example of Modern Recycled Spaces vision is its 1800 East State Street property in Hamilton Township. Located at the intersection of Whitehead Road, the building is an old foundry that’s been converted into 220,000 square feet of "really cool" space. The project, called "Studio Park," combines warehouse, office and flex space. Rushing says interest is high in this prime commercial real estate project due to low tenant costs, design flexibility, and a great location off of Route 1 and near I-295.
Another hot property is "Canal Studios" in Lambertville. Once a factory, the property, which runs along the Delaware Canal, is a modern mix of unique spaces, with a vast array of tenants including a coffee roaster, a ballet studio, artists, a meditation center, a gym, a natural foods store as well as corporate office users. Units at "Canal Studios" vary from a few hundred to 3,500 square feet, with well-done interiors and prominent signage. Again, Rushing says there is great interest in this type of property and location.
"We’re the answer to the current climate," Rushing said. "Our properties are perfect for those who can’t afford traditional Class A space, but want a high quality unit for their business. Revitalizing existing properties means we can offer a much lower price point."
Modern Recycled Spaces has something for everyone, from a small stand-alone office to spacious warehouses. This is because of Daniel Popkin’s 20-plus-year passion for taking older buildings and transforming them into something special.
"Work with us," Rushing stated. "We’ll find you the right space in any type of economy."
Modern Recycled Spaces Director of Leasing & Property Management Brian Rushing. 340 Scotch Road, Ewing. Cell: 609-731-0378. Office: 609- 883-6100, ext. 103. Fax: 609- 883-0036. firstname.lastname@example.org
New Jersey Real Estate Will Survive
New Jersey’s commercial real estate industry has survived previous economic downturns and managed to come out on the other side. This time it may take longer and involve a great deal of intelligent, long-range planning, but we are not ready to write any epitaphs for the business.
With management responsibility for the 11-building College Park at Princeton Forrestal Center and the 3-building Southgate Corporate Center in Morristown, NBP must keep its finger on the pulse of dozens of tenant firms who are confronting the present economic meltdown. Many of our College Park tenants such as lawyers, accountants, bio-tech companies, and information technology businesses serve the nation’s corporate giants and with the types of massive layoffs on that front, the "trickle down" effect could have a devastating impact on their business. For the most part, however, Princeton-area businesses are maintaining the status quo but the big question is how long can they hold out without new business coming in.
At College Park we entered 2009 at better than 98% occupancy. Princeton never experienced the building boom of the ‘90s that we saw in other parts of the state, so it never had the over supply of office space that many other regions are now grappling with.
Princeton is a unique business venue midway between New York and Philadelphia and home to one of the world’s great universities with its outstanding resources and deep talent pool, so we feel we are in a better position to weather economic storms.
Although all approvals have been finalized for new College Park additions, College Park 2 and College Park 3, and that interest has come from a number of prospective tenant firms, work for the moment has been put on hold. We are taking a wait and see attitude.
College Park 2, is a 5-building, 345,000- square-foot complex designed specifically for the requirements of high-tech firms and College Park 3, is a 4-building, premier corporate center which will feature 4 granite-faced buildings containing 160,000 square feet each. Both projects are being developed on a build-to-suit basis.
In Morristown, where NBP’ s parent company, Lawrence Zirinsky Associates acquired 465 South Street in the Southgate Corporate Center last year, a renovation program and an aggressive leasing campaign put the 139,000- square- foot building at the 70% occupancy mark With the current negotiations that are underway, we feel we will be fully leased this year.
The Southgate Corporate Center is a 3-building complex totaling 539,000 square -feet of space. Other Zirinsky-owned Southgate buildings include 435 South Street, a 190,000-square-foot building occupied by U.P.S. and 475 South Street, a 210,000-square-foot building occupied in its entirety by Atlantic Health System. National Business maintains an office at Southgate.
Like most of America, we are hopeful that the Obama administration will design programs that will restore consumer and investor confidence and stabilize the economy for the long term. We now recognize that key among our needs are energy independence, efficient automobiles, and as individuals, less reliance on credit and living within our means.
College Park at Princeton Forrestal Center is an 11-building, award-winning office complex at the heart of Princeton’s corporate corridor. The Park enjoys a reputation as a hub for multi-national companies involved in research, technology and finance. Included among tenants are SES Americom, Panasonic, JPMorgan Chase, Bracco Research and the law firm of Drinker Biddle & Reath. National Business Parks is the managing arm of Lawrence Zirinsky Associates.
Joseph R. Ridolfi & Associates
Mercer County’s Premier Commercial Realtor
Joseph R. Ridolfi & Associates, LLC, Mercer County’s Premier Commercial Realtor specializes in the sale and leasing of commercial, industrial, office and retail spaces, as well as investment properties, land subdivisions and consulting services.
After 40 years in business in the Hamilton area, Ridolfi says that much of his business is repeat customers and referrals. "When people need help, they know who to call. They know they are getting a deep knowledge of the area," he explains.
"Although residential real estate has been slow in the last few years, the commercial real estate market has remained solid", says Ridolfi. Businesses related to health and wellness, in particular, are very interested in opening new locations.
"Our society is very interested in health and fitness and in addition, as the baby boomers age, more senior care services are needed," he says. He has seen increasing interest in purchasing land for construction or leasing already existing space for businesses such as fitness centers and senior care centers.
Ridolfi & Associates has also been named Exclusive Leasing Agent for three major office/retail projects.
Mansfield Square is a 64,000 square foot medical office/retail complex located at the corner of Route 206 and White Pine Drive in Mansfield Township, Burlington County. The first of four 16,000 square foot buildings is now under construction and occupancy is planned for this summer.
Block Plaza Shopping Center is a 25,000 square foot retail center located on the heavily traveled main retail corridor at 825 State Highway 33, in Hamilton Township. Units are ready for occupancy and are available from 2,000 square feet, says Ridolfi.
Hamilton Clocktower Corporate Center is a 172,400 square foot Class "A" three building office complex located at the corner of Kuser Road and Yardville-Hamilton Square Road at Exit #3 of I-195 in Hamilton Township. The first 48,000 square foot building is now completed and 50% leased with remaining available space ready for tenant fit-out specifications.
"Hamilton continues to experience good growth in today’s uncertain economy," Ridolfi said. "We’re 90,000 people and growing. There’s unprecedented access by interstate and state highways, as well as the turnpike. We’re home to a major regional shopping center that’s creating value up and down Route 130. State Highway 33 is another major retail corridor that is experiencing good growth. Everyone wants to be in Hamilton Township because that’s where the action is."
"These types of successes spawn other developments," he adds. "The busier we are, the busier we get. Even in a slow economy, there’s a lot of investment money around. "
Ridolfi believes that the best investment today is real estate. The 1031 exchange, in particular, is an excellent way to shelter capital gains when buying or selling commercial real estate properties, he adds. Mercer County’s proximity to major metropolitan areas also makes it an excellent place to invest. "For people in the major metropolitan areas ofn New York, North Jersey and Philadelphia, Mercer County’s prices look great by comparison," he says. "That fuels our local economy, creates a tax base and boosts jobs. It’s good news for our area."
Joseph R. Ridolfi & Associates, LLC, 1245 Whitehorse-Mercerville Road. Bldg. A – Suite 402, Hamilton. 609-581-4848, Fax: 609-581-5511, Ridolfi@ridolfi-associates.com