Northeast Real Estate Business

AUG-SEP 2018

Northeast Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Northeast United States.

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For additional information on these outstanding opportunities please contact info@silbertrealestate.com • 908-604-6900 CENTRAL NEW JERSEY & PENNSYLVANIA PREMIER PROPERTIES FOR LEASE • Potential redevelopment opportunity; • New York Sports Club anchored 32 acre development with over 700' highway frontage; • Situated opposite new Whole Foods and contiguous Costco and 1/4 mile north of signalized intersection - CR 520; • Freestanding 5,140 SF on 1 acre, former QSR with DT NYSC ANCHORED DEVELOPMENT Marlboro, Monmouth County, NJ • Single story 32,732 SF neighborhood shopping center adjacent to a 67-unit Hawthorne Suites Hotel; • Available for lease 800 SF - 4,900 SF; • Outparcels include: Cracker Barrel, Arby's, Pizza Hut, STS Tire, Long John Silver's and Steak n' Shake; • Visible to 4-way interchange Exit 49 @ I-78; • Neighborhood includes significant corporate growth aggregating over 2.5 million square feet of office space FOGELSVILLE CENTER Fogelsville, Lehigh County, PA • Situated at the signalized intersection of SR 202/31 & Hart Blvd. Flemington/Raritan Twp. (opposite Home Depot); • 47,000 SF of multi-tenant commercial space; • Tenants include: CVS Pharmacy, PNC Bank, Robert Wood Johnson Urgent Care, Starbucks and CKO Kickboxing; • Four separate points of access/egress; • 288 on-site parking spaces; • Retail Bldg. – 9,381 SF remaining for lease (divisible to ±1,500 SF); • Pad Site #2 – 9,831 SF HERITAGE PLAZA Flemington, Hunterdon County, NJ • Proposed retail pad for freestanding retail, restaurant or financial institution with possible drive-thru; • Reciprocal cross access to Auto Zone & Aldi Supermarket at signalized intersection with Bellevue Avenue; • Within the heart of Reading (Muhlenberg Twp.) retail trade, busiest intersection of Route 222 and Bellevue Avenue ALDI SUPERMARKET ANCHORED CENTER ± 1.19 ACRE RETAIL PAD FOR LEASE Reading, Berks County, PA • In the heart of downtown Metuchen, the borough's largest and most prominent development opposite new Whole Foods; • Two blocks from NJ Transit with service direct to NY Penn Station; • Ground level retail and restaurant space with 273 luxury apartments; • 5,068 SF freestanding building w/ outdoor seating seeking restaurant users WOODMONT METRO AT METUCHEN STATION Brand New Luxury Mixed Use Transit Village Borough of Metuchen, Middlesex County, NJ • Supermarket anchored Transit Village opposite the NJ Transit rail line; • ShopRite anchored plus 100,000 SF of exciting pedestrian friendly retail including world-renowned Wolfgang's Steakhouse Grill, VintEdge Wine & Spirits, Starbucks, Chase Bank, Playa Bowls among others with upper floor luxury apartments; • Phase I - two units remaining for lease - 2,600 SF - 3,000 SF; • Phase II Proposed luxury apartments plus 42,000 SF retail and restaurant space SOMERVILLE TOWN CENTER Somerset County's Largest Transit Village Redevelopment Borough of Somerville, Somerset County, NJ 17 • August/September 2018 • Northeast Real Estate Business P erforming renovations, regard- less of how big or small, in oc- cupied multifamily buildings is disruptive to the day-to-day op- erations for both building staff and residents. Selecting a contractor with significant experience working in oc- cupied buildings helps to ensure suc- cess before the project even begins. If you do not properly vet a contrac- tor, you open yourself up to poten- tially disastrous ramifications like litigation over improp- erly performed construction, the risk of tenants withhold- ing payment in protest of un- inhabitable conditions, or ex- pensive lawsuits as a result of injury or damage to personal property. The following questions and checklists will help you determine whether you have found a suitable contractor for your next project. Communication Strategies The lines of communication must be clear and concise, from preconstruc- tion through completion of the punch list. A conscientious contractor will: • Provide a contact list including a full-time site supervisor, project man- ager and a principal of the firm. The contractor will also need a contact list of building staff to ensure proper two- way communications at all times. • Hold weekly meetings with the building manager to detail the expec- tations and understandings of reno- vations in progress, with a two-week look-ahead so that building manage- ment can alert its tenants accordingly. • Maintain daily reports, with pho- tos to visually articulate progress, and a labor tally, in order to align project management expectations with the work completed each day. Project Phasing Let's say your building needs a lob- by renovation. You can't just simply shut down a major entrance to a build- ing without any consideration for the impact it will have on residents. A conscientious contractor will: • Set parameters prior to mobiliza- tion to determine when occupancy is at its highest, how traffic flows through the building, and when it's at its peak. • Provide a color-coded phasing plan in CAD, or a floor plan that dem- onstrates the geographic area of the work and when specific tasks will be completed. • Proactively address any issues — such as unexpected problems un- earthed during demolition or delays in third-party supply shipments — and formulate a recovery plan to make up for any lost time in the schedule. Planning Clean Construction This is the area where the bar must be set highest because it directly im- pacts the health and safety of tenants. It is imperative to hire a contractor that is committed to using environmental- ly sound technologies and products. A conscientious contractor will: • Hold an EPA Lead-Safe Certification, required for ren- ovations on buildings con- structed prior to 1978. • Only use VOC-free paint, and provide a Material Safety Data Sheet (MSDS) with tech- nical details about any poten- tial health hazards of materi- als used on the project. • Mitigate noise using sound attenuation partitions, and stagger hours for demolition or any other particularly noisy activities. • Use plastic enclosures for the pro- tection of existing conditions, and de- ploy air scrubbers to filter out dust. Managing the Project Clear project guidelines and site safety rules are established during the pre-construction phase and sus- tained daily throughout the lifecycle of a project. All workers are expected to be courteous and respectful on the site, and be mindful at all times of the safety and security of the building's staff, tenants and visitors. Any unsafe conditions or conduct violations will be immediately addressed. A conscientious contractor will: • Require that all project managers and tradespeople hold OSHA certifi- cations and have background checks. • Ensure workers arrive and leave promptly, with a clear understanding of how to enter and exit the building. The contractor must emphasize that tradespeople should not engage with tenants, leaving all communications to that of the site supervisor. • Designate specific areas for lunch breaks, ban smoking from public ar- eas, and have a zero-tolerance policy for any alcohol or drug use. Last but not least, ask your contrac- tor to provide references who can speak to their previous renovations in occupied spaces, and how long the contractor will guarantee against errors or omissions in its work in your building. When your contractor dis- plays fluency in these factors, your project will be off to a solid start. Yoel Borgenicht is the president of King Rose Construction in New York City. CONSCIENTIOUS CONSTRUCTION How to minimize disruptions during renovations of occupied multifamily buildings. Yoel Borgenicht King Rose Construction

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