We Believe Asking Business Owners the Right Questions Is As Important

WILMINGTON TRUST RENOWNED INSIGHT

® Meet a few members of our njbiz.com OCTOBER 23, 2017 $2.00 Northern and Central New Jersey team. We believe asking business owners Robert P. Brown, Vice President and Senior Private Client Advisor 609-524-4468 | [email protected] the right questions is as important Bob provides comprehensive wealth management advice to high-net-worth individuals and families, entrepreneurs, business owners, and foundations and endowments throughout the Central New Jersey region. Bob has more than two decades of experience in the fi nancial services industry, as having the answers. specializing in custom credit, investment management, and fi duciary services. He holds a master’s degree in business administration with a concentration in fi nance and a bachelor’s degree in accounting from Seton Hall University.

John A. Trobiano, Vice President and Private Banker* 201-580-4636 | [email protected] John is responsible for meeting the fi nancial needs of clients throughout the Northern New Jersey region. He provides strategic advice, highly personalized service, and access to tailored credit solutions, premium deposit accounts and cash management services, residential mortgages and home equity lines of credit, and yacht and aircraft fi nancing through M&T Bank. John holds a bachelor’s degree in fi nance from Rutgers University and is a graduate of the PNC Bank Management Training Program and the Cannon Financial Institute Private Banking School.

Michael J. Huxley, Vice President and Senior Private Client Advisor 201-580-4654 | [email protected] Michael provides comprehensive wealth management advice to high-net-worth individuals and families, entrepreneurs, business owners, and foundations and endowments throughout the United States. His objective is that clients receive the appropriate blend of services based on their unique needs, including investment management, planning, trust, and family o ce services. Michael also works with owners of closely held businesses and their advisors on strategic alternatives. He holds a bachelor’s degree in ﬁ nance from Rider University.

These articles are for informational purposes only and are not intended as an offer or solicitation for the sale of any fi nancial product or service or as a determination that any investment strategy is suitable for a FIDUCIARY SERVICES | WEALTH PLANNING | INVESTMENT MANAGEMENT | PRIVATE BANKING* specifi c investor. Investors should seek fi nancial advice regarding the suitability of any investment strategy based on their objectives, fi nancial situations, and particular needs. These articles are not designed or intended to provide fi nancial, tax, legal, accounting, or other professional advice since such advice always requires consideration of individual circumstances. If professional advice is needed, the services of a professional advisor should be sought. Wilmington Trust is a registered service mark. Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation. Wilmington Trust Company, operating in Delaware only, Wilmington Trust, N.A., M&T Bank, and certain other affi liates provide various fi duciary and non-fi duciary services, including trustee, custodial, agency, investment management, and other services. International corporate and institutional services are offered through Wilmington Trust Corporation’s international affi liates. Loans, credit cards, retail and business deposits, and other business and personal banking services and products are offered by M&T Bank, member FDIC. Equal Housing Lender. For address or name corrections, fax label to (732) 846-0421 *Private Banking is the marketing name for an offering of M&T Bank deposit and loan products and services. Diversifi cation does not ensure a profi t or guarantee against a loss. There is no assurance that any investment, fi nancial, or estate planning strategy will be successful. Investment Products: • Are NOT Deposits • Are NOT FDIC-Insured • Are NOT Insured By Any Federal Government Agency • Have NO Bank Guarantee • May Go Down In Value ©2017 Wilmington Trust Corporation and its affi liates. All rights reserved.

16043_New Jersey Business Journal 4page wrap / 22.5”w x 14”h Portrait by renowned illustrator Joseph Adolphe.

WILMINGTON TRUST RENOWNED INSIGHT WILMINGTON TRUST RENOWNED INSIGHT

You’ve worked hard to build “The biggest challenge for your ” your business. Your transition plan business today? Tomorrow. deserves as much attention.

Transitioning ownership of your Managing and transferring Operating your company a short-term plan to be secure WHAT BUSINESS OWNERS business will undoubtedly be one of personal wealth. is is when all without a transition plan is risky. that a capable leader can take LIKE YOU ARE SAYING the most signi cant events of your life. your hard work pays o . You’ll begin Consequences can include a over if something unfortunate And one you may not be prepared to even to implement trust and planning forced sale, disputes over business occurs. And a long-term transition To get a better understanding think about right now. However, with strategies to transfer wealth to the control, excessive taxes, and lower plan can help ensure that the of what today’s business owners careful planning at each stage, you can next generation. You may also have the valuation. Not to mention what business is well capitalized and are thinking and feeling about expect to be ready for what’s ahead – and freedom to donate resources to those con dent that you’ll preserve everything organizations you nd meaningful. might happen to your employees that successors are being groomed transition planning or the lack you’ve worked so hard to build. and customers if your vision to eventually lead. thereof, we went straight to the Growing your business. Your isn’t honored. At Wilmington Trust, we’ve source. We talked to more than banker and insurance specialist Like many business owners, been collaborating with business 200 owners of privately held Donald P. DiCarlo Jr. will help determine which deposit, 31% you’ve likely thought about your owners for more than 114 years to businesses about what’s next Chief Fiduciary O cer lending, cash management, and OF BUSINESS OWNERS HAVE N O transition plan. But what’s keeping cra e ective transition strategies. for their company. We learned: Wilmington Trust, N.A. insurance solutions will best fuel the TRANSITION PLAN Source: “The Power of Planning” survey of 200 business you from executing it? According We’ve learned that the best plans As our chief fi duciary o cer, Don growth of your business. You’ll also owners conducted by Wilmington Trust • 58% have not created a to our recent survey of 200 business not only prepare the company makes sure we are collectively and want to ensure your will and other specifi c transition plan owners, 78% say that the main for a smooth transfer at the consistently meeting our fi duciary estate planning documents are in order, Founded by successful family • 33% don’t know their responsibility to our clients through and that you’re taking advantage of business leader T. Coleman duPont reason they haven’t planned is optimal time, but also enable company’s worth the advice we give and how we deliver tax-minimization strategies. more than a century ago, Wilmington because they enjoy running their owners to continue working for • 42% are too busy for it. He is also a member of the senior Transitioning business capital to Trust has the heritage and experience company. However, these aren’t as long as they wish and generate leadership team overseeing all personal transition planning personal capital. As your business to help guide you through times of mutually exclusive. With proper needed liquidity. trust, fi duciary tax, and wealth planning evolves, you may consider selling or growth and succession. Our approach For a deeper dive, download services for Wilmington Trust’s Wealth planning, you can continue to run “Both short- and long-term transitioning to your son or daughter, focuses on both your business and Advisory division. Don is part of a your business, yet also maximize plans are vital when considering the our comprehensive research or someone outside the family. We personal nancial needs, allowing us seasoned team of professionals who value and reduce taxation. next phase of any business,” says “The Power of Planning” can help you explore exit strategies, to make each transition in your exemplify Wilmington Trust’s 114-year What doesn’t occur to many Fernando Garip, market president in at wilmingtontrust.com/ heritage of successfully advising families secure the right buyer, and value journey a seamless one. owners is that a robust plan can the Northern and Central New Jersey businessowners. And for further and business owners. For access to your business. We’ll also help you For more insight on the importance insight on transition planning, knowledgeable professionals like determine how and where to invest of business transition planning, make running the company more regions. “But what’s equally important Don and the rest of our team, contact your wealth, and how to manage your download our latest research at enjoyable. With the help of a is tailoring those plans to meet the contact Fernando Garip at Fernando Garip at 201-580-4600. liquidity and cash ow needs. wilmingtontrust.com/businessowners. trusted advisor, you can design speci c goals of the owner.” 201-580-4600.

16043_New Jersey Business Journal 4page wrap / 22.5”w x 14”h SPOTLIGHT Medical market Tax Planning Salix finds new growth area for IBS drug. Page 6 Every large and small business needs tax and estate planning. Working together Scientific Page 17 Joint venture plans methods for continuous NJIT creates manufacturing in the collaborative space for pharmaceutical arena. problem solving. ® Page 8 Page 4 njbiz.com OCTOBER 23, 2017 $2.00 SURVEY PROVIDERS St. Peter’s and other NJ hospitals adapt to service surveys that affect reimbursement

BY BARI FAYE SIEGEL

In an effort to maximize inpatient reimbursements from CMS (Centers for Medicare & Medicaid Services), New Jersey hospitals are focusing on the service component of care as much as they are trying to exceed expectations on the clinical side. CMS requires hospitals to collect information from at least 300 patients each year using the Hospital Consumer Assessment of Healthcare Providers and Systems survey (HCAHPS). The HCAHPS, a national, publicly reported Lisa Drumbore, vice president survey of patients’ opinions of their in- and chief experience officer, patient experiences, is used to deter- and Garrick Stoldt, CFO, Saint mine CMS reimbursement levels for Peter’s University Hospital See SURVEY on page 10 in New Brunswick. - AARON HOUSTON

Murphy, Guadagno spar over taxes, cities, social issues Second gubernatorial debate can, and Phil Murphy, Democrat, was held questions around social issues and the it would be an “empty threat” and that he brought some new insights at William Paterson University in Wayne state’s cities. would take legal action against the White on Wednesday night, and both candidates Seizing on comments made by Mur- House if federal funds allocated for New related to NJ cities, social issues repeated their stances on popular topics as phy in the first debate, moderator Jessica Jersey were withheld. In response, Guadag- well as familiar lines of attack. Dean asked him about his desire to make no discussed a specific criminal case with BY ARTHUR AUGUSTYN The moderators were journalists from New Jersey a sanctuary state and the pos- an illegal immigrant and the need for law Philadelphia, New Jersey and New York sibility of losing out on federal funds if enforcement in such cases. The second and final gubernatorial debate who pressed the candidates on pensions, the Trump administration threatened to The next question involved property between Lt. Gov. Kim Guadagno, Republi- taxes and infrastructure and raised new withhold them. Murphy responded that See SPAR on page 12

For address or name corrections, fax label to (732) 846-0421 INDEX Business Around the State.....2 Lists...... 26 Opinion...... 15 Deals Roundup...... 32 Spotlight...... 17 Guest List...... 35 Subscribe to NJBIZ: call (866) 288-7699 NJBIZ delivers daily news and analysis of New Jersey’s important economic issues online at njbiz.com. Sign up for our daily e-mail alerts, read our blogs, write a letter to the editor and more. Energizing New Jersey HOW TO REACH US BUSINESS AROUND THE STATE

MAILING ADDRESS NJBIZ, 220 DAVIDSON AVE., SUITE 302 BRIEFS SOMERSET, NJ 08873 PHONE (732) 246-7677 Fisher Development FAX: EDITORIAL (732) 846-0421 Associates opens FAX: ADVERTISING (732) 249-8952 Vantage FAX: OPERATIONS (732) 846-0421

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REPRINTS For licensing, reprints, e-prints Across the Morris Canal Ba- and plaques, email reprints@bridgetowermedia. sin and Liberty State Park, Brian com. Authorization to photocopy articles for and Casey Fisher of Fisher De- internal corporate or instructional use may be velopment Associates were re- obtained from the Copyright cently joined by Jersey City Mayor Clearance Center at (978) 750-8400. Steven Fulop and deputy mayor For photos, please see njbiz.com/photos Marcos Vigil at the ceremonial opening of the first phase of Van- PUBLISHER tage, a 45-story luxury residential

Ken Kiczales [email protected] waterfront tower in the Liberty Harbor North neighborhood. GENERAL MANAGER Vantage, located at 33 Park AnnMarie Karczmit [email protected] Ave., features 448 luxury rental units within a block of the Marin ADVERTISING New Jersey insurers file to raise Boulevard Hudson-Bergen Light SENIOR ACCOUNT EXECUTIVE Rail Station and the Liberty Penelope Spencer [email protected] Harbor/Marin Boulevard ferry insurance premiums in 2018 station. Residents also have near ACCOUNT EXECUTIVES access to the Grove Street PATH Susan Alexander [email protected] BY VINCE CALIO compared to 2013, while New Jersey’s average rates Station and Exchange Place. Kirsten Rasky [email protected] were up 12 percent over that same period.” “The building looks beautiful Damon Riccio [email protected] wo of New Jersey’s largest health insurance AmeriHealth New Jersey announced an aver- and certainly adds to the skyline companies filed to raise health insurance age 17.1 percent rate hike for its plans in New Jer- which makes Jersey City so special Frank Scancarella [email protected] premiums due to uncertainties over health sey “based on many uncertainties in the individual in regards to this entire region,” Barry Young [email protected] T insurance reforms from the federal government, market.” Fulop said. “Congratulations to MARKETING MANAGER and another, Oscar Health, is re-entering the New According to figures released by the state’s In- Fisher Development Associates

Ali Brush [email protected] Jersey market after leaving last year. dividual Health Coverage program, middle-of-the- on the opening of Vantage and we Despite a bi-partisan agreement reached by road Silver plans will cost an average of $311.86 per look forward to more projects like EDITORIAL U.S. Senators Patty Murray (D-WA) and Lamar Al- month for AmeriHealth NJ’s IHC Silver EPO Advan- this.”

MANAGING EDITOR exander (R-TN) yesterday to restore cost-sharing tage plan; $346.72 for Horizon BCBSBJ’s Omnia Sil- Pricing for apartments at reduction payments under the Affordable Care Act, ver HAS plan, and $349.30 for Oscar Health’s Silver Vantage start in the low-$2,000’s John Parkinson [email protected] insurers still face uncertainty as there is no guaran- Saver plan. for a studio, Fisher said. The build- WEB EDITOR/SOCIAL MEDIA COORDINATOR tee that the agreement will ultimately be signed into “Today’s announcement confirms that Os- ing is comprised of studio, one- Emily Bader [email protected] law. car plans are among the most affordable options and two-bedroom units available

STAFF WRITERS Horizon Blue Cross Blue Shield of New Jer- New Jerseyans can choose for for immediate occupancy. sey, the state’s largest health insurer, announced their individual and small busi- Each resident at Vantage has Mario Marroquin [email protected] that state regulators have approved rate increases ness group health coverage next access to a 24-hour concierge, Real Estate between 16 percent and 28 percent for policies the year,” said Louis DeStefano, Os- fitness club, children’s playroom, Arthur Augustyn [email protected] company will offer in the 2018 individual market. car’s vice president of sales, in business room, conference center, Politics/Education The company stated that the increase was due an email. “Oscar is extremely ex- screening room and an enclosed to three factors controlled by the federal govern- cited to return to New Jersey and parking garage. Vince Calio [email protected] ment: deliver an easy, seamless health Outdoor amenities include a General Assignment David Huber • Weakened enforcement of the individual care experience with access to swimming pool, lounge, full-size CHIEF PHOTOGRAPHER mandate: +8.5 percent high quality hospitals for our members.” basketball court and a sky lounge Aaron Houston [email protected] • Elimination of federal funding for cost David Huber, Horizon’s chief financial offi- atop the 45 floor. sharing reductions (CSR): +3.9 percent cer, warned Congress and the Trump administra- “We’re proud to have been a RESEARCHER • 2018 reinstatement of health insurance tion that cost sharing reductions must be funded if part of Jersey City’s ascent into a Jessica Perry [email protected] tax: +2.3 percent health insurance is going to be affordable for New leading center of dining, culture, “Were it not for the three factors within the Jersey residents down the road. entertainment and lifestyle in EVENTS control of the Federal Government, Horizon BCB- “The federal government’s actions will drive the New York metropolitan area,” EVENTS DIRECTOR SNJ’s individual premiums would have an average costs higher and create additional uncertainty, Brian Fisher, president of Fisher Wendy Berg [email protected] increase of 9.6 percent,” the company said in a writ- making a volatile situation even worse. If cost shar- Development Associates, said.

EVENTS COORDINATOR ten statement. “Horizon’s previous average premi- ing subsidies are not funded, rates will increase fur- Fisher Development Associ- um increases have been in the single or near-single ther. Horizon remains true to our mission in 2018 ates said it will seek LEED Certifi- Anna Acquaviva [email protected] digits, while annual increases in many other states by offering several plans…to individuals and small cation from the US Green Building were much higher rate. Nationally, the average fed- businesses in every one of New Jersey’s zip codes,” Council for the project, which was eral exchange rates were 105 percent higher in 2017 Huber said in a statement. designed by S9 Architecture.

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2 October 23, 2017 NJBIZ www.njbiz.com BUSINESS AROUND THE STATE

AnnMarie Karczmit, general manager, NJBIZ. - AARON HOUSTON NJBIZ announces promotion of longtime employee New Jersey’s biggest Ken Kiczales, publisher, NJBIZ said the promotion to general manager encapsulates business journal promotes how important Karczmit is to the company. AnnMarie Karczmit “AnnMarie is an integral part of NJBIZ and the work she does here is invaluable,” said Kiczales. “She has many responsibilities and JBIZ is proud to announce the promo- is always happy to help. She is my right hand Ntion of AnnMarie Karczmit to Gen- as well as my left and I’m so happy for her eral Manager. “I feel honored,” said Karczmit well-deserved promotion.” about the promotion. “NJBIZ is a wonderful Karczmit says that while NJBIZ is an es- brand with a long history. Over the past few tablished, well-recognized brand, there are years my role has evolved and now my title still great opportunities for the company to matches what I actually do.” grow and evolve. “NJBIZ turned 30 years old Karczmit has been with NJBIZ for more this year and we are just beginning!” said Kar- than 10 years and she previously served as czmit. “I see our “power of three: print/on- the journal’s business manager. Karczmit has line/events” growing and evolving. We have been involved in everything from financial added panel discussions to our offerings in matters to personnel decisions to numerous 2017, and I look forward to continuing them business and administrative duties. in 2018. I also look forward to getting out In her new role, she will be deeply in- into the community and meeting our read- volved with the business journal’s future. ers, advertisers and media partners. My goal “My new role has me more involved with is to help with the promotion and growth of strategic planning,” said Karczmit. NJBIZ in the upcoming year.” Centers join to offer CAR T cell therapy in NJ BY VINCE CALIO have been possible with the commitment of patients and clinicians at the JTC Center ackensack University Medical Cen- that helped pioneer this.” Hter’s John Theurer Cancer Center The partnership will operate out of has formed a partnership with New York the JTC Center in Hackensack, as well as City’s Memorial Sloan Kettering to be- the Sanzari Children’s Hospital, which is come the only hospital in the state to offer also part of Hackensack University Medical CAR T cell therapy — a new type of immu- Center. It should be one of the largest CAR T notherapy for patients suffering from a rare programs in the country, the spokesperson form of blood cancer. said. The treatment was approved by the According to the National Cancer In- US Food and Drug Administration under stitute’s website, CAR T therapy was ap- the brand name Yerscarta for Los Angeles- proved in 2017 for children with a rare based Kite Pharma. A Hackensack Merid- form of leukemia and, until now, its use ian Health spokesperson said in a prepared has been restricted to small, clinical trials statement that the approval “would not for patients with advanced blood cancers. www.njbiz.com NJBIZ October 23, 2017 3 Science experiments NJIT Stem Complex brings together multiple scientific disciplines

BY ARTHUR AUGUSTYN

New Jersey’s Institute of Technolo- gy’s $21 million dollar STEM complex, which was unveiled last month, is part of its initiative to create a space where the life sciences and engineering col- laborate and work together on new projects. The institute received $13.5 million from the state’s Higher Education Capital Facilities program as part of the Building Our Future Bond Act, with the remaining $7.5 million funded by NJIT. The Life Sciences and Engineer- ing Center is a four-story complex with more than 20,000 square feet in shared NJIT’s Life Sciences and Engineering Center is a four-story complex with more than 20,000 square feet in shared laboratories. - SUBMITTED PHOTOS laboratories. It is expected that the collaboration capabilities of the new facility will open doors for technologies and research being worked on at NJIT. “We are bringing a very interdisciplinary environment where the life science, engineering and material sciences are coming together,” said Som- enath Mitra, executive director of the Life Sciences and Engineering Center. One of the ideas fostered by the new collaborative space began with the work of Tara Alvarez, a professor of biomedical engineering, who stud- ied convergence insufficiency, a disor- der where an individual’s eyes do not move in tandem with one another. their laboratories designed in the real world. “In According to NJIT’s research, roughly 5 per- [the] industry, that’s how it works,” said Pamela “We are bringing a very interdisciplinary cent of children and adults are affected by con- Hitscherich, a fifth-year biomedical engineer- environment where the life science, vergence insufficiency. It commonly occurs in ing graduate student. “An individual researcher people who have suffered a concussion, but the wouldn’t have their own space, they’d work engineering and material sciences are therapy offered to people with the condition alongside other researchers,” she said. proved ineffective. The therapeutic tasks, which Hitscherich’s research, which focuses on coming together.” patients were told to perform at home, were bor- heart disease and diabetes, requires collabora- - Somenath Mitra, executive director of the Life Sciences and ing, and often practiced incorrectly. Alvarez saw a tion among multiple fields of engineering, such Engineering Center better solution. as those that design bioreactors, manufacture Her team, which included a computer scien- devices that can exist in the human body, or find tist and artist, created a virtual reality game that ways rebuild damaged cells in human tissue. provided more effective treatment. “We needed “Those are separate specialties. Different don’t want our best and brightest students to to boost motivation by making therapy fun,” said labs would have expertise in those [and] work- leave the state and not come back,” said Christie, Alvarez in NJIT Magazine. The virtual reality proj- ing collaboratively is when you get the best work echoing the state’s overall commitment to ex- ect brought together biomedical engineers and done,” said Hitscherich. panding STEM opportunities for students in New computer scientists to create a solution to a prob- NJIT’s mission is to increase the school’s Jersey. lem that might otherwise be unattainable. These strengths in engineering and combining that with The Life Sciences and Engineering Center types of projects are what NJIT hopes to inspire biotechnology, biosensors and nanotechnology connects to the school’s Otto H. York Center for with the collaborative spaces. to develop new applications for healthcare, thera- Environmental Engineering and Science, contrib- “Things that are normally far apart are com- peutic interventions and pharmaceutical drug uting to the school’s overall focus on maximiz- ing together here,” said Mitra. development. ing collaboration. The construction leaves open For students, the collaborative spaces are The ribbon-cutting was held on Sept. 22 and 47,000 square feet for future expansion. representative of how industries typically have caught the attention of Gov. Chris Christie. “We Email: [email protected]

4 October 23, 2017 NJBIZ www.njbiz.com Completing a South Jersey Main Street Nexus Properties secures financing for last phase of Rowan Boulevard

BY MARIO MARROQUIN

Less than two months after Nexus Prop- erties and Rowan University opened the largest phase of the Rowan Boulevard development – delivering 557 student beds, 43,000 square feet of retail space, 37 luxury apartments and 30,000 square feet of classroom space – M&T Bank announced it has secured two loans totaling $61.2 million to complete the next phase of Rowan Boule- vard, known as A4. The bank provided a $49.7 million construction loan and an $11.5 million bridge loan to Nexus Properties, which is set to deliver an additional 604 student beds, 20 luxury rentals and 18,000 square feet of retail space as part of the A4 development. “Having grown up in Glassboro, the redevelopment of Rowan Boulevard has been Rendering provided by M &T Bank a labor of love for me over the past few years,” said Nexus Properties COO Dante Ger- “As a graduate of Rowan University, it means so much to be part of this remarkable mano in a news release. “With M&T Bank’s support, we have been able to bring state-of- redevelopment of Glassboro that has brought new life to the community. Our team at the the-art residences, retail and office properties to create a new and exciting downtown bank continues to be dedicated to bettering the very communities that we serve, work and setting for the South Jersey region.” live in, and we look forward to seeing Glassboro continue to grow and thrive.” A4, which is set to open in the summer of 2018, will be the last phase of Rowan - Shawn Field, vice president and relationship manager at M&T Bank. Boulevard and will consist of approximately 267,000 square feet across three buildings at 57 North Main Street and 114 Victoria. Rowan Boulevard development. The bank included a mixed-use building known as “As a graduate of Rowan University, it was part of the Rowan Enterprise Center, the Whitney Center, 280 student beds and means so much to be part of this remark- 220 Rowan Boulevard and the A3 phase of 20,000 square feet of retail space. A 129- able redevelopment of Glassboro that has the development. room Marriott hotel, 1,200-car parking ga- brought new life to the community,” said Nexus Properties estimates Rowan rage, 52,000-square-foot classroom building Shawn Field, vice president and relation- Boulevard to be a $350 million project. The and 9,600 square feet of retail were complet- ship manager at M&T Bank. “Our team at developer completed the first phase of the ed by Nexus Properties in 2013. the bank continues to be dedicated to bet- 26-acre project in 2010 when it delivered At 220 Rowan Boulevard, Nexus de- tering the very communities that we serve, 884 student beds and 36,000 square feet livered 57 apartments, 456 student beds, work and live in, and we look forward to see- of retail space for Barnes & Noble College 28,000 square feet of medical space and ing Glassboro continue to grow and thrive.” Bookstore. 20,000 square feet of retail space in 2015. M&T Bank has provided financing to In 2012, Nexus and Rowan opened the Email to: [email protected] Nexus properties for several phases of the second phase of Rowan Boulevard which On Twitter: @Mars3Vega

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www.njbiz.com NJBIZ October 23, 2017 5 Salix Pharmaceuticals focuses on gastrointestinal market for opportunities The Bridgewater-based company has increased its sales force and sees research, recruiting possibilities in NJ

BY VINCE CALIO

Bridgewater-based Salix Pharmaceuticals specializes in treatments for gastrointestinal disorders, and this year will look to boost its education of primary care physicians on irritable bowel syndrome and other diges- tive disorders. It is open to the possibility of partnering with state universities on research projects. The pharmaceutical company was acquired by Valeant Pharmaceuticals in 2015 in a stock and cash deal valued at roughly $14.5 billion. Shortly thereafter, Salix’s headquarters were moved to Bridgewater from Raleigh, NC, and since then, the acquisition has paid off handsomely for Valeant. Mark McKenna, senior vice president and general Salix’s drug Xifaxan, which treats ir- manager of Salix Pharmaceuticals with Salix mascot, ritable bowel syndrome and chronic liver Gut Guy. - AARON HOUSTON disease, was still in development during the acquisition. It is now Salix’s best-selling drug, bringing in roughly $1 billion in revenue per primary care physician market, a market that ciations to help spread the word.” but also because of the large pool of patients. year. the company had never specialized in. He also said the company would look to “Almost a third of the patients in the United Salix accounted for 20 percent of Vale- “We shifted our marketing mix from increase its research partnerships with aca- States with IBS are in the Northeast, so it ant’s Branded RX Segment (sales of branded direct-to-consumer advertising to expand- demia, particularly in New Jersey, after a suc- makes it easier to recruit patients for advisory prescription drugs) product sales in 2016, up ing our salesforce to work with primary care cessful collaboration with the University of boards and different initiatives,” he said. from 13 percent in 2015, according to Vale- physicians,” McKenna said. “We didn’t want Chicago. In 2015 Salix sponsored a study by The one issue with New Jersey, as a ant’s most recent 10K filing. Valeant produce to educate consumers and then go see their University of Chicago which found that Salix’s number of business trade organizations have nearly $9.7 billion in total revenue in 2016, up PCPs [primary care physicians] and have drug, Relistor, typically used to relieve consti- pointed out recently, is high property taxes, from $8.2 billion in 2014, the year before it ac- their PCPs not be familiar with IBS.” pation as a result of taking opioid-based pain which McKenna said he hopes can be low- quired Salix. That shift is what is expected to help killers, extended the life of patients suffering ered. “If we hire a person from, say, Texas, the Salix Senior Vice President and General drive business going forward, because there from pancreatic cancer. taxes are going to seem a bit high,” he said. Manager Mark McKenna, who was hired is a need among primary care physicians in “A lot of the innovations in the gastroin- Despite that, McKenna said he sees a shortly after the acquisition, told NJBIZ in an the state and around the country to learn testinal space are not coming from us, they bright future for the company in the state. In interview that one of the company’s major more about the treatment of gastrointestinal are coming from academia, and they are the near term, Salix plans to double its invest- points of growth is through the education of disorders, said McKenna. coming from smaller pharma companies that ment in research and development, and has primary care physicians in both the state and “The fact is that 70 percent of all patients focus on researching and developing innova- a number of drugs in the pipeline for which it around the country on irritable bowel syn- with irritable bowel syndrome present first in tions,” McKenna said. “We have an aggressive has high hopes. drome and other gastrointestinal disorders. primary care, and they often spend years go- internal development platform but we have In June, the Food and Drug Administra- McKenna explained that Salix and Va- ing from doctor to doctor and eventually end to realize there are better technologies out- tion accepted Salix’s drug Plenvu Next Gen- leant were able to overcome challenges last up at a specialist,” said McKenna. “[Before side of us and we have to harness that.” eration drug for testing, and if approved, will year when Valeant considered selling Salix, this year] we didn’t have a team in primary Research, recruiting capabilities be Salix’s next-generation bowel preparation but was made stronger by keeping it. “I was care to take advantage of that and to make drug that patients take before getting colo- appointed to this role shortly after the acqui- sure physicians were educated when patients McKenna noted that the company would noscopies. If approved, the new drug can be sition and we’ve gone through some chal- came in and asked about it.” be looking to work on research projects with taken in a lower dose than Salix’s First version lenges with respect to potential public dives- McKenna added, “We believe that universities in New Jersey, which has one of of Plenvu, and will taste better, McKenna said. titure,” McKenna told NJBIZ. In 2016, “That through education, we can unlock this op- the largest academic environments in the The company also completed a phase was an opportunity for Valeant to understand portunity in primary care in terms of New country. two program for a drug to treat a chronic, the value of this business and realize [Salix] is Jersey…we’re spending millions of dollars on “I would love to have Rutgers give me a inflammatory bowel disease known as ulcer- worth a lot more to them than it could be to physician education around this disease and call,” he said. ative colitis. “We have a number of molecules anyone else.” making sure PCPs understand how to treat McKenna said that moving to New Jersey in the pipeline and we’re also looking exter- In the first quarter, Salix hired 200 sales IBS and how to diagnose it. We’re sponsoring has given Salix strategic advantages not only nally at licensing opportunities,” McKenna and marketing representatives to focus on the associations here in NJ to primary care asso- in terms of location, research and recruiting, said.

6 October 23, 2017 NJBIZ www.njbiz.com S:10.125”

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STUDIO#: B1122-008408-00.13 CLIENT: CITIBANK Name WC OK Date None Agency Job #: B1111-011971-00 Bleed: Colors: 4CP VENDOR: PRODIGIOUS in NY Art Director: Kai Zimmerman PO #: 4700142369 Trim: APP: CS6 Creative 10.125” x 13.5” INK: Director: -- ENT 011971 NJ Biz.indd File Name: Live: None Copy FONTS: Interstate (Extra- Writer: -- LightItalic, Light, LightItalic, Media Type: Newspaper Scale Ratio: 1” : 1” ExtraLight; Type 1) Traffic: Joann Wong LINKS: 1126883_16_ Issue Date: 2017 Layout DPI: DPI KERN-170622-Citi_PHL_ Production: Joann Wong Portraits_1142_Gracol_ Creation Date: 9-6-2017 3:40 PM Effective DPI: DPI r2_240.tif Account Manager: Jenni Kluzek Last Modified: 9-6-2017 3:59 PM Deliverable: PDFx1a Proofreader: Publication: NJ Biz Studio: Paul Deangelo Job Desc: CommercialBank BusJrnl PDG_Publicis:Volumes:PDG_Publicis:Citicorp:Mechani- AE OK Rel: cals:2017:ENT:ENT 011971:Documents:ENT 011971 NJ Biz. File Location: -- Proofed @ indd Notes: None

ENT 011971 NJ Biz.indd Proof ROUND Stock: Epson Newsprint #: 1.1 NJCMI seeks growth, innovative pharmaceutical manufacturing techniques

dividual unit operations labs for process optimization and control, modeling and automation. It also offers designated classrooms and training labs for collaborative learning experiences and workforce development. “The idea behind NJCMI is to work with the pharmaceutical industry in embracing modern manufacturing techniques,” said Sebastian. “This idea hasn’t really grown in the state yet – the idea of being able to move from batch processing to continuous processing. It is a huge step forward as it reduces the physical foot print in manufacturing for biopharmaceutical companies in the state.” Modern technology allows for a company to reduce the Dr. Donald Sebastian, NJCMI’s president - AARON HOUSTON amount of space needed to store a drug by a factor of 10, explained BY VINCE CALIO to produce drugs, as opposed to manufac- Sebastian. Modern technology turing them through batch processing. In Dr. Christopher Molloy, senior vice allows for a company The New Jersey Continuous Manufactur- batch processing, a drug is typically pro- president at Rutgers office of Research and ing Institute (NJCMI), a joint venture be- duced stage by stage in a series of different Economic Development, said NJCMI’s team to reduce the amount tween the NJ Innovation Institute and Rut- departments in a pharmaceutical company. is comprised of professionals with “more gers University, announced its intention Such a process often results in delays in de- than 100 years of combined experience in of space needed to to officially form under the NJCMI banner, veloping a drug, and limited supplies of the biopharmaceutical manufacturing process store a drug by a train and employ up to 150 workers, and drug being produced. development, biochemical and chemical seek a 40,000-square-foot space in the state. Last year, the FDA publicly encouraged engineering. factor of 10, said Dr. “We’re looking at three different loca- pharmaceutical companies to adopt con- Dr. Fernando Muzzio, director of tions in industrial parks that cater to the tinuous manufacturing techniques, which C-SOPS and of NJCMI, said in a written Donald Sebastian, pharmaceutical industry,” Dr. Donald Se- are systems that allow drugs to be produced statement that continuous manufacturing president of NJ bastian, NJII’s president, said in an inter- in a seamless and uninterrupted way, thus is leading the modernization of pharma- view with NJBIZ. “We need about 40,000 producing larger quantities more quickly. ceutical manufacturing. Generic compa- Innovation Institute. square feet but will do that in stages start- Global manufacturing giant Siemens, nies, contract manufacturers and smaller ing at about 10,000-square-feet units either in its marketing material, lists the advan- pharmaceutical companies need access close by or under one roof.” He declined to tages of continuous manufacturing includ- to development facilities with knowledge name the three sites. ing: verification of product quality and real- of product and process development, his NJCMI has been operating for the past time release of products; lower investment statement said. He added that NJCMI will year at both Rutgers and the NJ Innovation and operating costs with higher energy ef- enable new players to enter this market. Institute. They are hoping for an additional ficiency and lower greenhouse gas emis- NJII’s Executive Director, Biotechnolo- $10 million from the U.S. Food and Drug sions; shorter time to market; and greater gy & Pharmaceutical Innovation, Haro Har- Administration (FDA) next year to set up flexibility in production across the product tounian, Ph.D., said in an email that NJCMI the new facility, Sebastian said. The FDA lifecycle. is working with biotechnology partner com- already provided a $4.9 million grant to The current NJCMI operates process panies to implement continuous processing the joint venture for its work in continuous development pilot plants for both solid dos- innovations. “This enables biotechnology manufacturing. age forms and biologics, as well as FDA ap- companies to produce high-quality prod- NJCMI’s goal is to research and cre- proved good manufacturing practice suites ucts with a smaller production footprint ate continuous manufacturing techniques for production. In addition, it provides in- and shorter lead times.”

8 October 23, 2017 NJBIZ www.njbiz.com The road to Union It took time for Russo to clear the path for development of the former Merck site in Union Township

BY MARIO MARROQUIN

When Russo Development first sought to purchase the 55-acre site across the street from Kean University in 2014, the school balked, claiming it had secured right of first refusal on a portion of the land stemming from 1986 when the Kean family trustees passed partial ownership of the site to the pharmaceu- Russo Development broke ground on Oct. 10 for the first phase of Vermella Union on the former Merck site on Morris Avenue in Union Township. From left to right: Richard G. tical firm Schering-Plough Corp. Berger, Esq. general counsel, Russo Development; Manuel Figueiredo, Committeeman, Twp. of Union; Clifton People Jr., Committeeman, Twp. of Union; Joseph Florio, deputy Schering-Plough later merged with mayor, Twp. of Union; Suzette Cavadas, mayor, Twp. of Union; Edward Russo, CEO, Russo Development; Michele Delisfort, Committeewoman, Twp. of Union; Dr. Dawood Farahi, president, Kean University. - PHOTO PROVIDED BY RUSSO DEVELOPMENT Merck, and the school had been in talks with Merck about the use of the site. The dispute over rights brought the parties to Jersey during the next decade,” said 42 acres site’s frontage on a state high- tion requirements and the general state New Jersey Superior Court, where after Edward Russo, CEO of Russo Develop- way, its proximity to the Garden State of the market may prompt it to stabilize nearly a year of litigation, Judge Kather- ment. “Union Township had the vision Parkway, New Jersey Turnpike and the first phase before moving forward. ine Dupuis granted summary judgment to adopt a thoughtful redevelopment Route 22; and its access to the trains Despite the legal challenges having to Russo. The judge agreed with Russo plan that was needed to allow the trans- and a university with 16,000 students. set the developer back for a few years, that there was no written conveyance formation of this unique site into a first- “These attributes coupled with the site’s and demolition and remediation re- transferring the right of first refusal from class destination that will complement location in a densely populated, subur- quirements for the site, Russo said it is the Kean trust to its beneficiary John Kean University and the surrounding ban town provided the opportunity to confident Vermella Union’s location and Kean, which is required under the New community.” create a vibrant community that does uniqueness in the Township of Union Jersey Statute of Frauds. John Kean had The developer said the first phase of not exist in this market,” the company will allow the community to thrive. attempted to assign the rights to the university’s board of trustees in 2014. The judge found the family trust expired in “To be able to take a mostly vacant former pharmaceutical site and get it cleaned up 1997, along with the right of first refusal. The litigation also ensnared the environmentally and developed into an outstanding residential community is amazing.” Township of Union, which was reported - Union Mayor Suzette Cavadas to be concerned about the loss of taxes if the university acquired the site. Though the parties fought hard, the project will deliver 462 luxury rental said in a statement. “We recognize the pipeline of mul- they put the litigation behind them and units and 40,000 square feet of retail to Still, Russo still has plenty of work tifamily development throughout the this summer, Russo entered into an the town by the end of 2019. left before beginning construction. market and we have implemented a agreement with Union and Kean Uni- Union Mayor Suzette Cavadas Vertical construction is set to begin strategy that we believe will position us versity to sell 13 acres to the university said, “To be able to take a mostly va- in Spring 2018 due to infrastructure and well for the future,” the company said. to complete its purchase. cant former pharmaceutical site and demolition requirements. “A site in a great community like And two weeks ago the developer get it cleaned up environmentally and The company said it is demolishing Union Township that is adjacent to a hosted a groundbreaking ceremony on developed into an outstanding residen- 23 existing buildings with approximate- leading educational institution like phase I of Vermella Union, a project ex- tial community is amazing. Vermella ly 1 million square feet of floor area. The Kean University is always going to have pected to deliver 1,264 rentals at the site, Union will be a great addition to Union balance of the site will be developed in appeal,” Russo said. located on US Route 82 and within walk- and the most significant redevelop- phases over the next eight to ten years Russo Development is also working distance of the Union Train Station ment project in our community for and environmental remediation within ing to complete Vermella West, a 280- and near the Garden State Parkway. many years.” the first phase has been completed, the unit apartment complex in Kearny, a “Vermella Union is the result of The developer has high hopes for company said. 112-unit rental complex in Verona and a more than three years of collaboration Vermella Union because of its proximity Russo said it could seek to begin 300-unit, 18,000-square-foot mixed-use with Union Township on the planning to the train station and its adjacency to construction on the second phase of Ver- project in Garwood. and design of one of the largest mixed- Kean University along Morris Avenue. mella Union in the next 18 months, but Email to: [email protected] use developments in northern New Russo Development pointed to the constraints such as additional remedia- On Twitter: @Mars3Vega www.njbiz.com NJBIZ October 23, 2017 9 “Patient and family engagement leads to happier patients and ultimately better medical results.” - Melinda Caliendo, public relations manager at the New Jersey Hospital Association

understandably focused on improving patient satisfaction. In 2015 and 2016, Saint Peter’s HCAHPS scores were down. In fact, CMS reimbursements were reduced by $63,000 and $41,000 respectively. In 2017, Saint Peter’s reimbursement data, announced on Sept. 30, 2017, is up $44,000, based on a 2017 Medicare inpatient payment of $53 million, said Garrick Stoldt, chief financial officer at St. Peter’s University Hospital. The projected fiscal 2018 reimbursement, based on current case mix intensity and volume, is $47,000. “It’s important to note that these reimbursements are based on a three-year roll- ing average of HCAHPS scores,” Stoldt said. “I believe the reimbursement percentage is actually a false indicator of how we are doing. A facility’s quality today could be at its highest level but the three-year average shows a different calculation. The truth is, what happened three years ago in healthcare is ancient history today.” Saint Peter’s University Hospital in New Brunswick. - PHOTO COURTESY SAINT PETER’S On the other hand, he said, Saint Pe- ter’s Leapfrog Hospital Safety Grade has SURVEY hospitals provide that care. Therefore, about CMS REIMBURSEMENTS been an “A,” three times running. Since a third of Medicare reimbursement dollars the scores are issued twice a year, Stoldt CONTINUED FROM PAGE 1 for hospitals are based on a patient’s person- Saint Peter’s HCAHPS scores maintained this is a more appropriate as- hospitals throughout the country. al experience with doctors, nurses, orderlies, sessment of the hospital’s performance — As of this year, hospitals will either lose food servers — even the valet. $63,000 though it has no impact on reimbursement or gain up to 2 percent of reimbursement It is worth noting that managed care Amout CMS reimbursements were dollars. The Leapfrog grade is set to be re- dollars, based on the results of the HCAHPS. companies, including Aetna and United- reduced by in 2015 leased at the end of this month; Stoldt said The rate was 1.5 percent in each of the past healthcare, set quality standards metrics he is “hopeful” about his facility’s ongoing two years. With so much revenue at stake, and base annual bonuses, rather than reim- high marks. New Jersey hospitals have no choice but to bursements, on a hospital’s ability to meet or $41,000 Lisa Drumbore, vice president and Amout CMS reimbursements were strive to improve the patient experience, a exceed those metrics. chief experience officer at Saint Peter’s, move that will no doubt have a major impact The expectation, of course, is that a hos- reduced by in 2016 said providing the highest level of service is on their HCAHPS scores. pital is doing everything possible to provide “critical” to the hospital’s mission. CMS uses the HCAHPS to collect data the highest level of quality medical care. The $44,000 Drumbore said her team is hyper- on patient perspectives in 27 categories, wild card has always been, and will always Amout CMS reimbursements vigilant when it comes to new employee specifically topics that are important to con- be, public perception. Patients’ and family are up in 2017 orientation and a consistent focus on best sumers. Questions range from pain man- members’ opinions of services received is Source: St. Peter’s University Hospital practices for all staff — including medical agement to provider communication to the the part of the equation many hospital ad- professionals. cleanliness of the hospital. The results of ministrators are focused on. They know, in “We really have to understand the cus- these surveys create incentives for hospitals the court of public opinion, one bad review wick, place heavy emphasis on soft skills, the tomer’s perspective if we are go to be able to to improve quality of care and provide a new is worth far more than several good ones. service side of the business. deliver on our promise to provide the high- level of transparency in return for public in- That being said, there is more than one A closer look ... Saint Peter’s est levels of care,” she said. “When people vestment. reason to encourage patient satisfaction. trust you, they see the best in you. We want CMS is focused on inpatient hospital “Patient and family engagement leads to University Hospital every patient to see us at our very best.” experiences through its Value-Based Pur- happier patients and ultimately better med- New Brunswick-based Saint Peter’s To that end, St. Peter’s physicians are chasing program (VBP), but the agency an- ical results,” said Melinda Caliendo, public University Hospital, a member of Saint Pe- reminded to sit at eye level with patients nounced last July that payment rates and relations manager at the New Jersey Hospi- ter’s Healthcare System, is a 478-bed acute because “it’s important to create a trust, a policy changes in the Hospital Outpatient tal Association. care teaching hospital sponsored by the bond,” Drumbore added. “Body language Prospective Payment System and Ambula- “The NJHA is active in coming up with Roman Catholic Diocese of Metuchen. The is important, as is creating a connection tory Surgical Center Payment System are new ways to educate members to encourage non-profit facility treats more than 30,000 through conversation.” coming in 2018. them to develop patient and family advisory inpatients and more than 200,000 outpa- At St. Peter’s, she said, every employee While 75 percent of CMS’ value-based committees and other ways to include patients yearly. must meet the hospital’s service standards purchasing, the system used to calculate re- tients in hospital governance so they have a Saint Peter’s was recently recognized as and understand the commitment they need imbursement percentages, is based on how larger voice in the healthcare community,” a five-time Magnet hospital by the American to make. “We focus on providing clinical well hospitals meet standardized inpatient Caliendo said. Nurses Credentialing Center, one of just five care as much as we focus on caring about clinical care metrics (mortality rates, mini- For all these reasons, it makes sense hospitals in the world to receive the honor. our patients,” Drumbore said. “When you mum infection rates), the remaining 25 per- that New Jersey hospitals, including Saint With fluctuating CMS reimbursements benchmark your success in those terms, cent is based on patient perspectives of how Peter’s University Hospital in New Bruns- over the past several years, Saint Peter’s is everybody wins.”

10 October 23, 2017 NJBIZ www.njbiz.com T:7.5”

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UEI170049_Aetna_Response_Print_0918_7.5x10.indd 3 9/18/17 5:16 PM

Client Alts Internal & External Team Project Details Color Dimensions Date: 9-18-2017 5:16 PM Depot #: N/A Cyan, Magenta, Flat: 7.5" x 10" Creative Prod. Mgr: Linda Cherekos Name: Aetna Response New Jersey - NJ Biz Print Ad Yellow, Black Folded: N/A Job Number: UEI170049 Stage: FINAL Reading Level: N/A Software: CC 2017 2 File Name: UEI170049_Aetna_Response_ Notes: Print_0918_7.5x10.indd None Voters look to debates to get Style over substance a feel for the candidates BY ARTHUR AUGUSTYN tute of Politics’ Center on the American the state of the election. stretching the truth,” Ambar said. “In Governor. “I don’t think there was any conse- a world where doubt is the prevailing The latest polls put Phil Murphy 15 per- Ambar, who also serves as an associ- quential moment that people are going to thought, passing more doubt isn’t nearly centage points ahead of Lt. Gov. Kim ate professor in Political Science at Rut- leave with,” Ambar said, adding that Mur- as effective as it was in years’ past.” Guadagno. Even taking into account gers, said there are multiple political sci- phy’s lead allowed him to pass through On the other hand, Murphy’s fram- a potential polling error, Guadagno’s ence studies that show voters often don’t the debate unscathed unless he made an ing as Guadagno being a continuation chances are looking dire. How will the pay attention to policy specifics during enormous gaffe. of the current administration is highly candidates’ performance affect the elec- televised debates. In terms of narrative, Guadagno fo- effective in “change elections” — election and what do voters take away from Instead, voters pay attention to a cused on portraying Murphy as a man tions where there is not incumbent run- debates? larger narrative on the candidates and who can’t keep his promises; Murphy ning. “[In debates, voters] get a feel for how they feel about each one. framed Guadagno’s candidacy as the “Murphy has been able to get vot- candidates, whether property taxes are Ambar said Guadagno managed third term of Gov. Chris Christie. ers to see Guadagno as another term for going to be reduced, or an arbitration multiple “feel good moments,” such as But the attacks on Murphy are not Christie,” Ambar said. “While she may cap, any of those specifics don’t resonate her handling of microphone problems in particularly effective in the current politi- continue to move up somewhat in the with voters but a feel [for the candidate] the first debate or her interaction with the cal landscape. polls, it’s not likely to make much of a dif- can matter some,” according to Saladin crowd in the second debate, but none of “We’re in an era where there’s a ference.” Ambar, senior scholar of Eagleton Insti- these moments were enough to change presumption [that] all politicians [are] Email: [email protected]

ONLINE ONLY SPARREAL ESTATE it did not affect long-time residents of cit- nd th ies like Newark and Jersey City. Guadagno CONTINUEDBy OrderFROM PAGE of 1 Bid Nov. 2 THRU Nov. 8 County of Salem discussed tax credits as a way to encourage taxes, and Guadagno said Murphy’s plan Online Only businesses to hire local citizens, and refer- lacked specifics and that he will raise prop- Real Estate Auction enced a company in South Jersey and how erty taxes. She said she would lower them. 13,879±SF, 2 Unit it affects Camden and its citizens. Murphy responded by saying taxes have Commercial Building When the questions turned to social gone up 17 percent during her tenure. in Salem, NJ. issues, one of the bigger topics was the Throughout13,879± the SF,debate, 2 Unit each candiRetail- Complex Bid online Nov. 2 - Nov. 8 at legalization of marijuana. Guadagno op- date repeated attacks about the other in- poses it, favoring decriminalization as an Property Location: 110 Fi h Street, SALEM, NJ 08079 WarnerRealtors.com. alternative. She cited a 48 percent increase cluding Murphy’s common refrain• Pro Forma of the NOI - $58,011/ 2017 Warner Real Estate & Auction, number of days Guadagno had• Assessed been Value:in $556,400 in traffic deaths in the state of Colorado, Taxes: $19,320.99 / 2017 856-769-4111 which some have attributed to an increase office with Gov. Chris Christie,• and 7,769± Guad SF – -LeasedPhil to Murphy, Family Dollar) left, and Lt. Gov. Kim Guadagno speak to the media at separate press events immediately follow- agno’s remarks about Murphy’s• career 1.47± Acres, as a Parking ing forthe 75 debate vehicles held Wednesday night. - ARTHUR AUGUSTYN in marijuana usage. Goldman Sachs millionaire as• well Minimal as Landscapehis & Maintainence Required Murphy stated his intention to legalize • Water, Sewer, Gas, Electric NJ Statewide Classiﬁ eds desire to raise taxes. sage of lowering the tax burden on middle- throughout the debate. For example, when marijuana. Although he stressed that his INSPECTION: Nov. 5th at 12 - 2 PM 25 words Guadagno defended her association income families by tackling property taxes. a question directed at Murphy asked if he stance was a “social justice issue,” Murphy with Christie at multiple points throughoutALL bidding The will belieutenant ONLINE ONLYgovernor attempted to shift would renew the 2 percent salary cap for has said in the past that marijuana legaliza- the debate. In response to Murphy’s accuat WarnerRealtors.com- the Christie comparisons onto her oppo- police officers and firefighters in the state, tion would provide millions in tax revenue. sation that856.769.4111 Guadagno has been WarnerRealtors.com with Chris- nent by saying she publicly opposed the he refused to commit to an answer. The state of Colorado reported $1 billion tie “every step of the way,” Guadagno said 23 cent gas tax hike, whereas Murphy sup- “I would like our voters to know I make dollars in marijuana sales, less than 12 sheCumberland expressed Reminder, misgivings 1/8 Page, to Octoberthe governor 18 in ported the measure. decisions based on the facts,” Murphy said, months after legalization. private. For his part, Murphy repeated his explaining that a report on the issue would Voters are well-versed in the money “Quite frankly, anybody who knows promises to fund pensions, infrastructure be released in December. When pressed by problems facing the state and the need me knows I’m not Chris Christie,” said Gua- and free college education, but offered no moderator Kristine Johnson for an answer, for massive funding in several key areas. dagno. specifics on funding them. Murphy declined to articulate a position. Guadagno has positioned herself as the Guadagno continued to push her mes- His reticence to offer specifics was seen Murphy continued his framing that candidate who will save the state money, New Jersey had been let down by the cur- whereas Murphy promised to figure out the rent administration and insufficient growth arithmetic to make spending work. ONLINE ONLY REAL ESTATE of the economy had left “tens of billions” Guadagno seized an opportunity late in By Order of County of Salem AUCTION on the table. Murphy mentioned New York the debate to press on Murphy’s vague an- 13,879± SF, 2 Unit Retail Complex Bid November 2nd maintaining 179 innovation incubators, swers. When each candidate was offered the THRU November 8th compared to New Jersey’s 15 as an example opportunity to ask the other a question, Gua- of a missed opportunity. dagno asked how Murphy planned to pay for • Pro Forma NOI - $58,011/ 2017 One topic that came up repeatedly was everything. Murphy’s response meandered • Assessed Value: $556,400 Taxes: $19,320.99 / 2017 New Jersey’s cities. For example, one ques- for a few seconds before an audience mem- • 7,769± SF – Leased to Family Dollar) tion revolved around Atlantic City and gam- ber shouted for him to answer the question. • 1.47± Acres, Parking for 75 vehicles bling. Murphy spoke of increasing a non- Guadagno may have had more debate • Minimal Landscape & Maintainence Required gaming economy for the beleaguered city, highlights, but has failed to generate excite- • Water, Sewer, Gas, Electric Property Location: 110 5th Street, but favored gaming in the Meadowlands. ment for her candidacy in an election that’s th SALEM, NJ 08079 INSPECTION: Nov. 5 at 12 - 2 PM Guadagno wanted to ensure Atlantic City defined by widespread apathy. Murphy re- 856-769-4111 was stabilized first, but would be open to mains in the lead according to polls taken WarnerRealtors.com ALL bidding putting gaming in North Jersey on a ballot. in the last few weeks. will be On the issue of gentrification, the can- Election day is Nov. 7. ONLINE ONLY AUCTION AT WARNERREALTORS.COM ONLINE ONLY didates were asked how they would ensure Email: [email protected]

New Jersey Biz, 1/8 page, October 23 12 October 23, 2017 NJBIZ www.njbiz.com Webinar: How employers can use the latest consumer research to drive health engagement. WEBINAR: How employers can use the11 latest October, consumer at 1pm ET / research10am PT to drive health engagement

Employers are increasingly looking for new ways to improve SPEAKERS the healthNovember of their workforces, while7, 2017 adopting strategiesat 2:30 to pm EST more effectively manage each employee’s health benefits.

EmployersJoin Rebecca are increasingly Madsen looking and Dr. for Brenda new ways Bruns to ofimprove the healthUnitedHealthcare of their workforces, as theywhile discuss adopting the strategies latest trends to more and best PRESENTED BY: effectively manage each employee’s health benefits. practices for employer-sponsored health benefits, highlighting Join Paulhow Mardencompanies and Dr.can Marilyn implement Gordon and of measure UnitedHealthcare technology- in New Jerseydriven ashealth they programs. discuss the latest trends and best practices for Brenda Bruns, M.D. employer-sponsored health benefits, highlighting how companies can Chief Medical Officer implement and measure technologyRegister driven at: health programs. National Accounts uhc.com/wellnesswebinar UnitedHealthcare Register at: bit.ly/UHCWebinar In this free 1-hour session you’ll learn about:

In this• freeThe health 1-hour literacy session challenges you’ll facing learn consumers about: and companies. EA • The •health Strategies literacy for consumers challenges to facingnavigate consumers the complex and health companies. system. Paul Marden CEO • Strategies• Employee for consumers views on incentives, to navigate wearables the complex and health health care technology. system. UnitedHealthcare • Big data’s role in the future of clinical programs. • Employee views on incentives, wearables and health care technology. of New Jersey • Big data’s• Companies role in that the are future having of successclinical useprograms. best practices to drive engagement. Rebecca P. Madsen Who Whoshould should attend: attend: Chief Consumer Officer • Emplo• Employers.yers UnitedHealthcare • Financ• Financee executives executives. • Benefit• Benefitconsultants consultants. • Human resource leaders. HOST • Human resource leaders • Health care professionals. • Health• Innovation care professionals and consumer engagement professionals. • Innovation and consumer engagement professionals Register at: Dr. Marilyn Registeruhc.com/wellnesswebinar at: bit.ly/UHCWebinar Gordon Medical Director UnitedHealthcareEric Mann of NewVice Jersey President Partner & Product Marketing Rally Health 2017

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Join us as we celebrate these New Jersey businesses that are on the move! The ranking of each company will be revealed during an awards ceremony and breakfast. TUESDAY, NOVEMBER 14, 2017 • 6:30 PM - 9:00 PM PALACE AT SOMERSET PARK MAKE YOUR RESERVATIONS ONLINE AT: WWW.NJBIZ.COM/EVENTS

2017 FAST 50 COMPANIES* ADM Tronics Unlimited, Inc. ConnectOne Bancorp, Inc. NGA Group, Inc Today’s Business Advisors Mortgage Group, LLC Design Alternatives Inc. Northern Architectural Traffic Plan AnnieMac Home Mortgage Eglentowicz Demolition & Systems Trinity Solar PCS, LLC ASB Resources Enviromental Company Two Rivers Title Company, LLC Peapack-Gladstone Bank Aspire Technology Partners, Enterprise Soft Sol Inc Vericon Construction Co. LLC. PerformLine First Bank Vitals Atyeti Inc Garden State Home Loans, Pinnacle Commercial Development Vonage Avaap Inc. Redline Automotive Vydia Axtria Inc. GENEWIZ Merchandising WorkWave Boll & Branch Hollister Construction Services Russell Reid and Mr. John World Insurance Associates Cancer Genetics, Inc. Imperial Bag & Paper Companies LLC CareFinders Total Care JHDS Structural Steel Seaman’s Beverage and Zelis® Healthcare Fabricators Logistics CMK Select, LLC (*listed in alphabetical order) Compunnel Software Group, Kivvit Staffing Alternatives Inc. Lakeland Bank Summit Medical Group Join the conversation! Computer Data Source Inc. Maser Consulting P.A. The Wireless Experience #NJFAST50

Questions? Please contact Anna Acquaviva at [email protected] or (732) 246-5713.

MAJOR SPONSORS: OPINION OUR POINT OF VIEW

TRIPLE PLAY Note to next governor: Take these issues seriously THREE THOUGHTS FROM A TOP LEADER IN THE STATE: What to consider during a leadership transition id you happen to catch the without rethinking how we pay for things dodgeball match on TV the other The gubernatorial election is like infrastructure and education. Close to 8 million private U.S. busi- Dnight? If you did, you were prob- important in New Jersey, but Public pensions. Murphy has been nesses are expected to undergo ably impressed at the degree of agility Phil running from this one, while Guadagno a leadership transition over the Murphy and Kim Guadagno still bring to the latest debate was comical. wants to meet current obligations, but it’s the table. back to the negotiating table for new hires next decade due to baby boomer The gubernatorial election is impor- cord here isn’t terrible — the state was able into the system. We’d like to see the state owners and leaders entering retire- tant in New Jersey, but the latest debate was to convince some companies to relocate or make good on what it has promised teach- ment. Nearly $10 trillion in busi- comical. Did you miss it? Cover your ears. remain here, like Panasonic and Pruden- ers, firefighters and the like, but where will ness assets might be transferred What do you hear? Nothing! Well, we cer- tial. But the “Jersey comeback” has lagged that money come from? tainly didn’t hear anything of substance. the nation, credit agencies are running out Infrastructure. NJ Transit is in sham- by 2025, and 70 percent of private Murphy won’t take sides on the 2 percent of bad letters to rate the Garden State and bles, roads and bridges are in poor shape, companies have no transition plans cap on labor settlements, or how he’d meet most of the jobs have been lower-paying and yes, business owners do care about prepared. EisnerAmper recently pension obligations, or even whether he’d service positions in entertainment facilities these things, whether you’re an Amazon lo- established a Center for Family ask Bob Menendez to resign if found guilty. or warehouses. gistics center that needs good highways or a Business Excellence that will guide Guadagno, meanwhile, ran as far away Property taxes. The biggest issue by small business with commuters. from her record as lieutenant governor as far. Murphy is going to close tax loopholes Cities. Atlantic City, Camden and a clients through those transitions. possible, which leaves her with almost no to lower taxes, while Guadagno will take on few others came up during the debates. Ur- Lisë Stewart, Iselin-based director record at all. waste, fraud and abuse. Great plans, but if it ban areas are playing a leading role across at EisnerAmper, suggested three Usually, this is where we endorse were that easy, it would have been done by the country in revitalizing economies. They questions leaders should ask as somebody. now, and you’re not going to see a notable are the places where exciting tech compa- Instead we highlight some key issues tax cut from either plan. The honest answer nies want to locate and where a younger they approach retirement: that we hope get taken seriously, regardless is the property tax problem is not going to generation of workers want to live. Outside of which candidate you vote for. be solved overnight and taxes are not going of Jersey City, this isn’t the case yet in New What brings you joy and satisfac- Business climate. Chris Christie’s re- to be drastically lowered — certainly not Jersey. tion? It’s important to consider what 1you are already doing – not what you dream of doing. Research demonstrates that we are unlikely to take up a hobby or new interest in retirement that we don’t Fallen short on health care already pursue. If you don’t have any interests outside of paid work that you really oes Donald Trump’s latest enjoy, then the time to explore new oppor- assault on health care finally tunities is before you transition out of your Dcount as some kind of signature current role. legislative achievement? Because nearly a year in, he’s got all the momentum of How do you want to spend your molasses in March — at least, if you leave money – or not? There are two out all he’s done with via executive order. 2times in a marriage when divorce is Trump and the GOP’s desire to undo more likely – the first five years of marriage the Affordable Care Act has been as re- and the first five years of retirement. The markable for its persistence as its futility reason is money and values. Many transi- — Obamacare has survived everything tioning owners realize they have different from court challenges to Mitch McCon- values regarding their lifestyle. Some be- nell, but the president’s latest action will lieve the golden years are the time to live definitely leave scars. As a result, the sub- it up; others believe that this is a time to sidies that helped low-income people af- be frugal and ensure your money lasts for ford insurance will dry up, and the mar- the rest of your life and benefits your fam- kets will be flooded with so-called “junk cartwheels, have at least enjoyed some a welcome development. ily. Have the money and values conversa- plans” that allow younger, healthier peo- degree of predictability. Meanwhile, em- As we were preparing this for press, tion well before you walk into your new ple to buy inexpensive plans with little ployers outside the industry — especially the news was breaking that the U.S. Sen- lifestyle. protection, stopping the money for older small-business owners — struggled to ate was reaching a deal on health subsi- patients from reaching the exchanges. make sense of their own benefits pack- dies, offering at least some short-term sta- What role do you want to play in Ask yourself how long companies ages for their workers, and will now likely bility to insurers. But it won’t be enough your business? Only a small num- that live and die by the health of the find themselves in such unenviable posi- to undo the damage Trump has created 3ber of business owners want to sim- Obamacare exchanges will survive with tions again. with his latest decree. We need Republi- ply walk away and do something different that level of uncertainty. Obamacare is hardly perfect, as New can leadership in Washington — includ- with their lives. Most still enjoy some as- None of this is good, to put it mildly, Jersey health care, insurance and other in- ing those from New Jersey, most of whom pects of their work and would like to pre- for New Jersey. Here, as in many other dustries will tell you. However, for its many have meekly fallen in line with the presi- serve their relationship with the business states, hospitals and medical centers problems, it has achieved some notable dent’s shenanigans — to start holding the and the employees who are their friends have adjusted their business models to victories like extending coverage to Ameri- executive branch accountable when it and colleagues. There’s no one right an- accommodate life under Obamacare. cans who otherwise could never come by makes decisions that are harmful to busi- swer. Traditional retirement is rarely a For hospitals, there is the necessity to it—such as those with pre-existing condi- ness and downright cruel to constituents. healthy option and smart business own- manage their large, growing and unsus- tions. Reforming the law to make it simpler Let’s hope they’ve spent all this time pre- ers structure the next stage of their life by tainable charity care obligations, and for companies to comply and injecting fur- paring something to impress us, because meeting both their emotional and finan- insurance companies, if not turning ther stability for insurers would have been so far, they’ve fallen very short. cial needs. www.njbiz.com NJBIZ October 23, 2017 15 TO CREATE THE POPCORN IN HERE, PIPCORN HAD TO GO OUT THERE.

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CHA_0142_Pipcorn_Ad_10.125x13.5.indd 1 9/11/2017 12:40:05 PM SPOTLIGHTTax Planning “There is still uncertainty whether either federal or state estate taxes will be eliminated.” — Rita Danylchuk

THE IMPORTANCE OF ESTATE PLANNING How to pass your business on to your intended heirs without paying too much to Uncle Sam PAGE 18

Rita Danylchuk, head of trusts and estates practice, Gibbons P.C. - AARON HOUSTON

www.njbiz.com NJBIZ October 23, 2017 17 SPOTLIGHT TAX PLANNING

Looking ahead with estate planning Warren K. Racusin, partner and chair of trusts and estates at the Roseland-based law firm Lowenstein Sandler, told of a business-owner mother who was running a specialty export-import company worth “tens of millions of dollars.” She had two children, but her daughter was the only one active in the business. “The woman wanted to pass the business on in a way that would minimize taxes, and she wanted to take care of her non-business son,” Racusin said, adding, “There was one more wrinkle: the daughter who would be taking over was engaged, and the mom wanted to protect the business in case the marriage didn’t work out.” The company was structured as a Subchapter S corporation, which means that the profit or loss flowed through to the owner’s tax return. “We arranged the creation of a class of non-voting shares that represented most of the value of the company, and created a trust for the benefit of the daughter to hold them,” Racusin said. “This created an extra layer of protection between the daughter and the claims of her husband if the marriage went bad. It also offered some protection against any of the daughter’s personal creditors. We Rita Danylchuk, head of trusts and estates practice, Gibbons P.C. - AARON HOUSTON suggested that the daughter sign a prenuptial agreement in which her husband-to-be agreed not to make any claims on the business if they got divorced.” BY MARTIN DAKS To fund the trust’s purchase, the mother transferred a minority of shares as simple xperts say a small business own- gifts, and issued a promissory note for the er’s company may be the biggest bulk of the nonvoting shares. Epart of her estate. But a recent “This way, as the company generated profits, MORE survey from Caring.com found that only the mother was compensated,” said Racusin. 42 percent of U.S. adults currently have “This structure also limited any gift tax estate planning documents like a will or consequences, and enabled the mother to maintain control of the company, because living trust; and the number is even low- she kept the voting shares until she was sure er, at 36 percent, for those with children her daughter could run it properly,” he said. THAN under the age of 18. However, some About five years after the original transaction, strategies can let you pass your busi- the mother transferred the voting shares to ness on to your intended heirs while her daughter, and the company entered into reducing the tax bite, and integrating a “long-term compensation arrangement your business succession plan with your with the mother so that she continues to be overall estate planning. And even if the financially protected,” he said. DEATH federal estate tax is eliminated, plan- What about the son? ning—while you’re still around—is im- “The mom and her husband are leaving the portant. bulk of their other assets to the son who isn’t Dulling the tax bite involved in the business,” said Racusin. “This is important because it takes care of them “One of our clients owned a close- while avoiding the friction and stress than can AND ly-held printing company and wanted occur when you have family members owning to minimize the tax bite when his com- a part of a business even though they don’t pany was sold,” said Rita M. Danyl- actively help to run it.” chuk, who leads the trusts and estates practice at the Newark-based Gibbons TAXES law firm. The owner planned on eventually selling his business, so several There are many reasons for years before the sale, he transferred one-third of his interest in the business business owners to plan ahead to a dynasty trust for the benefit of his

18 October 23, 2017 NJBIZ www.njbiz.com SPOTLIGHT TAX PLANNING children and grandchildren, she said. “Non-tax factors will enterprise,” he said. “Let’s say the parent’s will have a continuing relationship with The transfer to the dynasty trust was estate is worth $30 million, and the busi- the sibling who’s actually doing the day- considered a gift that utilized part of the continue to exist for proper ness represents $20 million of it; but the to-day work. That could create friction owner’s lifetime federal gift/estate exemp- parent wants to give his kids an equal in- down the road. Another solution might tion. But by the time the company was sold estate planning.” heritance. How do you equalize the value involve planning with life insurance to to an outside third party, the trust’s own- - Rita M. Danylchuk. passing to the children?” provide liquidity to equalize the children’s ership value in the business had grown by One solution would be to restructure inheritance,” Rufolo said. $5 million—and when the owner died the the enterprise and give two of the children Different situations call for different value of the trust assets passed to his heirs non-voting stock or other non-voting in- approaches. But it all starts with careful outside of his estate. to have multiple children, but only one is terests in the firm to equalize their inheri- planning ahead of time. “By moving some of the business in- interested in actually going into the family tance. “But now the two non-involved kids Email: [email protected] terest into a trust sufficiently ahead of the sale of the company, the owner was able to essentially pass the appreciated value of the gifted business interest to his descen- dants free of federal and state estate taxes,” grassicpas.com Danylchuk said. An opaque crystal ball What happens if the federal estate tax is indeed eliminated, as the Trump administration has vowed? And if the New Jersey estate tax, which is scheduled to sunset after January 1, 2018, also disap- BE YOUR pears? “There’s still some uncertainty whether either or both of those will happen,” Danylchuk cautioned. “But if they BUSINESS BEST. do, estate planning will remain important. For example, say a business owner has company stock and real estate that she acquired for $3 million a long time ago, and their market value is now $20 million.” If she leaves the property to her son through a traditional will and he eventually sells it, under current law, ignoring estate taxes the son will still pay capital gains tax on the difference between the value at his mom’s death [thanks to a At Grassi & Co., we are much more than “step-up in basis” to the current value] just your accounting firm: we are specialists and the sale price. specifically trained in a diverse range of “If the sale is close in time to the industries to help your business succeed. mom’s death, the son pays minimal or no Whether your company is large or small, capital gains tax,” said Danylchuk. “But if the estate tax is eliminated, it is uncertain established or just starting up, we can if the step-up in basis rules will remain in provide a broad range of professional place or if the beneficiary will only inherit services concentrating on the challenges the original cost basis the mom had in the unique to your organization. inherited asset.” Our client-centered approach towards So estate planning likely will be important to address under any new law. positive business improvements will help “Also non-tax factors will continue to ex- you reach the next level of success. ist for proper estate planning,” she said. Grassi & Co. We are the company you keep. “Such issues as deciding whether your beneficiaries should receive assets out- right or in trust, who should be the execu- tor of your estate or guardian for minor children, and how to plan for operation of a family business passing to the next generation will all still be important.” Avoiding family feuds Careful estate planning may also re- One Maynard Drive, Suite 2203 duce family squabbles, said Pasquale Park Ridge, NJ 07656 l 201.808.9800 Rufolo, chair of the private client services group at the law firm of McElroy, JERICHO, NY l NEW YORK, NY l RONKONKOMA, NY l WHITE PLAINS, NY Deutsch, Mulvaney & Carpenter. “It’s not unusual for a business owner www.njbiz.com NJBIZ October 23, 2017 19 SPOTLIGHT TAX PLANNING

Think ahead for BY MARTIN DAKS disaster or New Jersey business owners, the series of hurricanes that re- Fcently struck Texas, Florida and other locations may have stirred pain- planning ful memories of Superstorm Sandy, which rocked the Garden State in 2012. Business owners must have If personal, income‐producing or business property is impaired or safeguards in place to prevent destroyed during a disaster, taxpayers a costly Catch-22 situation may be able to claim a casualty loss deduction on their tax return, generally as an itemized deduction on Form 1040, Schedule A for individuals , and on Section B of Form 4684, Casualties and Thefts, for business or income- producing property. But what if the books and records you need to compute and document your losses—not to mention carrying on your business post-disaster—get lost in the flooding, fire or other con- Henry Rinder, senior forensic partner, Smolin Lupin & Co. - AARON HOUSTON ditions that can accompany a disaster? Without the proper safeguards in

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A Digital Security checklist or block specific traffic based on a defined set of security rules.” Common digital hacker threats can include phishing, For example, if you only do business in the U.S., you can block ac- where a hacker tries to fool people into revealing pass- cess from Russia, China, North Korea and other countries that are words and other sensitive information; and ransomware, known for hacking threats, he said. “You should also have robust where a hacker hijacks all or part of your records, and virus scanning software in place that’s regularly updated. These threatens that they won’t be released unless you make a and other measures should be periodically checked by a security- payoff, typically in untraceable Bitcoin. trained IT professional to be sure they’re effective.” This summer, Merck, the Kenilworth-based pharmaceuti- But no security system can keep a hacker out if an employee opens cal giant, was hit by a ransomware attack, likely part of a digital door. a global outbreak. Last year, the Chatham-based New “Train your employees about safe surfing, combined with strategy Jersey Spine Center was also attacked, and “elected to and tactics to keep employees off high-risk sites,” Rinder said. He pay the ransom to gain access to the records,” according added that his firm has locked out access to Facebook, Amazon, to a company document. and other websites that are popular but pose hacking risks. “We “Fortunately there are security provisions that can reduce also have training companies send phishing emails to our employ- the risk of an external threat,” said Rinder. “A checklist of ees so we can identify individuals that will open suspicious mes- countermeasures would typically start with your external sages. Then we talk to them and provide more training so they’ll be firewall, a network security device that monitors incoming more cautious in the future. The idea is to reduce risk, because all it and outgoing network traffic and decides whether to allow takes a click to expose your entire system,” said Rinder.

place, a business owner could be in a costly service providers like Iron Mountain Inc. of- Catch-22 situation. “Some small businesses may have lot of paper-based fer storage and protection of information as- “Some small businesses may have documents that are at risk of exposure to fire and flood, sets like critical paper business documents as lot of paper-based documents that are at well as electronic and other information. risk of exposure to fire and flood, yet they yet they don’t have much in the way of backup copies.” “If you transfer your records to the don’t have much in the way of backup cop- digital space, storage can be a lot easier,” ies,” warned Henry Rinder, senior foren- - Henry Rinder added Rinder. “This way you can easily sic partner at the Fairfield-based CPA firm transfer data to an offsite cloud-based ‘stor- Smolin Lupin. “Most strategic plans incor- fire, flood or another disaster occurs—like will still be able to recover your vital data age facility’ like Google Drive, often in real porate some kind of offsite storage of criti- the time that Sandy slammed into New Jer- with offsite recordkeeping.” time. Of course, when you’re talking digital, cal, relevant documents and records. So if a sey—and your records are destroyed, you In New Jersey, professional document See PLANNING on page 25

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www.njbiz.com NJBIZ October 23, 2017 21 SPOTLIGHT TAX PLANNING

Last-minute tax tips Hiring a CPA to assist with tax returns prevents businesses from missing out on ways to reduce their cost

BY MARTIN DAKS “One planning opportunity is an IRA charitable rollover, or qualified charitable or most people, filing a personal or distribution,” explained Lipschultz. “This business income tax return is about may allow donors 70 1/2 or older, who are Fas thrilling as going in for a root ca- required to withdraw a minimum distri- nal without any painkiller. It can be particu- bution from their IRA, to transfer up to larly stressful for small- and medium-sized $100,000 of that distribution to a qualified businesses, since “many are structured as charity and then exclude that amount from pass-through entities, where income and their taxable income. Considering all the deductions pass through to the taxpayer’s natural disasters we’ve seen this year, an personal return,” said Brent Lipschultz, increasing number of people may want to a tax partner at the New York City office of take advantage of this opportunity to do PricewaterhouseCoopers. good while getting a tax break.” So business owners who tries to do their Because a donor is excluding the con- own tax return without the aid of a CPA or tribution directly from their gross income, other tax professional may miss out on valu- “they can’t take a separate itemized chari- able tips that can reduce the tax bite. Fortu- table contribution deduction for the do- nately, some professionals are willing to put a nation,” Lipschultz said. “But this direct Harry Quagliana, partner, Deliotte Tax LLP. - AARON HOUSTON spotlight on the dark corners of the tax code. reduction can really help someone who

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22 October 23, 2017 NJBIZ www.njbiz.com SPOTLIGHT TAX PLANNING

lives in a state like New Jersey, which cal- schultz said. culates state tax on your gross income and Finally, “business owners who con- also help take advantage of other deduc- template the transfer of interests in family- tions that may be gained by having lower owned businesses have reason to celebrate income.” as the Treasury Department withdrew Your residence may be a write-off regulations that, if adopted, would have increased the cost of transferring interests in Another write-off against income can family-owned businesses,” he said. benefit someone who runs a business from A tax break for clunkers their residence: the home-office deduction. Thinking about getting rid of a car or “A sole proprietor who works at home light truck you use for business? You may can generally take a percentage of the costs want to listen to Marty Abo, the founder associated with the home—like utilities, and managing member of Abo and Co. property taxes, mortgage interest or rent— LLC, a Mount Laurel-based CPA firm. method of accounting who believe tax rates will to reduce operating revenue,” he said. “The “It may be better to sell these vehicles Start your tax planning now drop next year may want to defer some invoic- deduction is generally computed by di- rather than trading them in for a new one,” Many people wait until October when they file ing until close to the end of 2017,” he said. their previous year’s tax return [after taking viding the area that’s used exclusively for he said. “Although a vehicle’s value typical- “That way you’ll collect the revenue—and report all their Form 4868 extensions] to take a hard business operations by the square footage ly drops fairly rapidly, the tax rules limit the income—in 2018. Similarly, if you think that look at their overall tax strategy, said Brent of the house or apartment—so if you work amount of annual depreciation that can be we may see an expansion of expensing limits Lipschultz, a tax partner at the New York City in your kitchen or bedroom you cannot claimed on most cars and light trucks. So in 2018, you may want to defer some capital office of PricewaterhouseCoopers. But he claim the deduction.” when it’s time to replace the vehicle, it’s purchases—like machinery and equipment—un- suggests starting a lot sooner. Business owners who own their resi- not unusual for the tax basis [original cost til 2018.” “Make a New Year’s resolution to start your tax dence may also be able to deduct depre- reduced by depreciation] to be higher than Finally, Lipschultz said that if you think that planning on January 1,” he said. “That gives you ciation expense—again on a business-use its actual trade-in value.” the deduction for state and local taxes may be more flexibility. But even if you start late, pay percentage—from their business income. But this could present an opportunity. eliminated, you may want to prepay them so attention to what’s going on for the remainder you’ll get the deduction in 2017, although some “But when you sell the residence, if you “If you trade the vehicle in for a new of the year.” That’s particularly important this of the benefits may be lost if you’re subject to elect to exclude your gain on the sale under one, any unused depreciation of the old ve- year, with the possibility of a huge overhaul of the Alternative Minimum Tax. “But either way, section 121 of the revenue code you may hicle simply tacks onto the basis of the new the federal tax code. have to recognize gain on the recaptured one—but this extra basis generally doesn’t consider your cash flow and operational needs. “Sole proprietors or those with certain business- Don’t let the tax tail wag the dog,” he said. depreciation attributable to the portion generate any additional current deprecia- es that are pass-through entities on a cash basis of the businessJuly.28.2017.NJBiz.half.page.blue.red.pdf use of the residence,” 1 6/30/2017 Lip- 9:12:40 AM See TAX TIPS on page 24

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TAX TIPS Read carefully before faith’ defense—the Tax Court will usually refuse CONTINUED FROM PAGE 23 you sign on the dotted line to waive any penalties,” said Abo. tion because of annual depreciation lim- He points to a recent U.S. Tax Court decision, T.C. its,” Abo said. “However, if you sell the old In 2017, more than 153 million individual tax Memo. 2017-79, which involved an insurance vehicle rather than trading it in, any excess returns will be filed, according to the IRS, and consultant who took too many deductions when of basis over the vehicle’s value can gener- “more than four out of five” will be prepared with he relied on TurboTax to prepare his own returns. tax return software,” according to the agency. ally be claimed as a deductible loss to the The consultant tried to blame the software for extent of your business use of the vehicle,” Unfortunately, using a tax return program “luring him into claiming” some improper deductions, but the Tax Court cited a previous ruling he said. doesn’t guarantee that your return is accurate, according to Marty Abo, the managing member and said that tax preparation software “is only as Take credit for your research of Abo and Co. LLC. good as the information one inputs into it.” The Credit for Increasing Research “Each year, when the tax season rolls around, “Remember to read the small print just above we get a number of new clients who want us to Activities, or R&D credit, is a “significant the signature line of your 1040,” said Abo, who prepare their tax returns,” he said. was not involved in this case. “It says that ‘Under permanent domestic tax credit,” according Usually, they had been preparing their returns penalty of perjury, I declare that I have examined to Harry Quagliana, a partner at the Par- the earlier years. And guess what, if you make a themselves. “Alas, the returns just became too this return and schedules and statements, and, sippany office of Deloitte Tax LLP. Unlike a complicated, even using TurboTax, and they mistake on your return—as opposed to a compu- to the best of my knowledge and belief, they are deduction, which generally reduces taxable needed professional help. Unfortunately, we find tational or other error made by the commercial true, correct, and complete.’ The IRS takes that income, a tax credit can be more valuable, that these taxpayers often made mistakes in software package, which may qualify for a ‘good statement seriously,” he warned. since it generally reduces tax liability on a dollar-for-dollar basis. “To be eligible for the R&D credit, a New Jersey companies. nificant capital purchases, like new ma- said. “But bonus depreciation is sched- taxpayer’s activities need to satisfy a num- “Companies based in NJ in the bio- chinery and equipment, should consider uled to drop to 40 percent in 2018, and 30 ber of requirements including those in technology industry that generate R&D making the buy in 2017 to take advantage percent in 2019 before completely phasing Internal Revenue Code section 174,” Qua- credits for activities performed in the state of “bonus depreciation,” according to out. So if you were planning to purchase gliana said. “Under the regulations, even could sell those credits in order to monetize Steve Talkowsky, a tax partner at the Red qualified property it may make sense from companies who have employees perform- them, even in situations where the compa- Bank office of the regional accounting firm a cash flow perspective to make these ing R&D activities as an ancillary portion of nies are generating taxable losses,” Qua- WithumSmith+Brown. purchases before the end of this year,” their activities or outsource it to third-party gliana said. “Bonus depreciation allows your Talkowsky advised. contractors can often claim the credit,” he A bonus for buying M&E business to take an immediate first-year But he does say that “careful atten- said deduction of 50 percent of the purchase tion should be paid to potential tax reform There may even be a bonus for some Businesses that are considering sig- price of qualifying business property,” he as we approach year-end, as this could

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24 October 23, 2017 NJBIZ www.njbiz.com SPOTLIGHT TAX PLANNING

Rebuilding after a disaster “Document the steps in your disaster recovery plan, Even the best-prepared company can be and establish a chain of command in case of a disaster, slammed with large losses from a severe storm or other natural disaster. Inventory or machin- like flooding or power outages. How will people ery and equipment may get damaged or wiped out, so the business itself may be unable to communicate if phone lines are down, or if operate for a lengthy period. But even here, you can steps to make the recovery process less access to your office is blocked? stressful. - Henry Rinder “To begin with, consider shielding yourself with business interruption and general liability insurance—before disaster strikes,” said Jospeh your office is blocked? Then test your plans, Cipolla, managing director of Cipolla & Co. a PLANNING and run ‘fire drills’ with all of your staff to CPA and financial services firm. CONTINUED FROM PAGE 21 ensure that everyone understands what to Cipolla said business owners need to provide it’s important to protect your documents— do, and that the plan is effective.” reasonable loss estimates to their business as well as your entire network—from hack- Cipolla & Co., a Franklin Lakes-based interruption insurance carrier. One way is to ers.” October is National Cyber Security full-service CPA and financial services document revenue for the period before the disaster, and compare that to your post-disaster Awareness Month, he said, which is an an- firm, has back up generators that can revenue. “You’ll need to detail declines in nual campaign to raise awareness about power computers, lights and heat in an revenue, billing, and hours worked, among other the importance of cybersecurity, like being emergency, said Joseph Cipolla, the man- issues,” he said. company’s building. up to date with your antivirus software. aging director. “We outsourced our record Accurate and well-secured records will also be “The good news was that the company main- But putting backup and other security retention to a cloud-based provider, and key in proving any inventory and other mate- tained perpetual inventory records,” Rinder plans in place is only one step, Rinder said. everyone has a laptop and takes them off rial losses, said Henry Rinder, senior forensic said, referring to a method of accounting for “Every business, regardless of its size, premises each night. Employees also have partner at the CPA firm Smolin Lupin. He was inventory that records the sale or purchase of should have a strategic plan in place that’s cell phones with their own ‘hot spot’ so called in when the finished goods, raw materi- each inventory item immediately, usually with communicated to all the employees,” he they can work remotely regardless of where als, and work-in-process inventory of Passaic- computerized point-of-sale systems and asset said. “Document the steps in your disaster they’re located.” based furniture manufacturer were damaged management software. “This way they were recovery plan, and establish a chain of com- When it comes to tax planning for a by a fire that was accidentally sparked by a able to account for every item and we were able mand in case of a disaster, like flooding or disaster, business owners may find that to accurately compute their losses,” he said. roofing company that was working on the power outages. How will people communi- preparing for disasters is the biggest take- cate if phone lines are down, or if access to away.

www.njbiz.com NJBIZ October 23, 2017 25 NEW JERSEY’S TOP NEW JERSEY'S TOP Accounting Firms For full list, visit www.njbiz.com/lists Accounting Firms Ranked by: The number of CPAs located in New Jersey Lists Ranked by the number of CPAs located in New Jersey By Jessica Perry BY JESSICA PERRY FOR FULL LIST, VISIT NJBIZ.COM/LISTS FIRM ADDRESS % OF BUSINESS WEBSITE PHONE | FAX AUDIT & ACCOUNTING | TAX RANK | PREV. YEAR EST. ADDITIONAL N.J. LOCATION(S) SENIOR EXECUTIVE(S) MANAGEMENT ADVISORY | OTHER N.J. CPAS 1 | 2 PwC 400 Campus Drive B.J. Agugliaro WND | WND 409 www.pwc.com Florham Park, 07932 WND | WND 1849 (973) 236-4000 | (973) 236-5000 Jersey City 2 | 1 Deloitte LLP and its subsidiaries 100 Kimball Drive Paul Krieger WND | WND 400 www.deloitte.com Parsippany, 07054 WND | WND 1895 (973) 602-6000 | (973) 602-5050 Princeton and Jersey City 3 | 3 KPMG 51 John F. Kennedy Parkway Corey Temple WND | WND 350 www.us.kpmg.com Short Hills, 07078 WND | WND 1897 (973) 467-9650 | (973) 467-7930 Montvale and Roseland 4 | 4 Ernst & Young LLP 99 Wood Ave. S. Becky Burke 32% | 28% 325 www.ey.com Iselin, 08830 25% | 15% 1890 (732) 516-4200 | (732) 516-4429 Secaucus and Edison 5 | 5 WithumSmith+Brown P.C. 506 Carnegie Center, Suite 400 William R. Hagaman Jr. 45% | 40% 287 www.withum.com Princeton, 08540 10% | 5% 1974 (609) 520-1188 | WND Morristown, New Brunswick, Paramus and Red Bank 6 | 6 CohnReznick LLP 4 Becker Farm Road Phil Mandel, Steven Schinella 55% | 28% 230 www.cohnreznick.com Roseland, 07068 8% | 9% 1919 (973) 228-3500 | (973) 228-0330 Eatontown, Edison and Princeton 7 | 7 Marcum LLP 105 Eisenhower Parkway, Suite 301 Ilan Hirschfeld, Marge Filippelli WND | WND 190 www.marcumllp.com Roseland, 07068 WND | WND 1951 (973) 646-3800 | (973) 646-3801 Neptune 8 | 8 EisnerAmper LLP 111 Wood Ave. S. Jay Weinstein, Charles Weinstein 50% | 35% 184 www.eisneramper.com Iselin, 08830-2700 15% | 0% 2010 (732) 243-7000 | (732) 951-7400 9 | 9 Wiss & Co. LLP 354 Eisenhower Parkway Paul L. Peterson 50% | 30% 114 www.wiss.com Livingston, 07039 8% | 12% 1969 (973) 994-9400 | (973) 992-6760 Flemington 10 | 11 PKF O'Connor Davies LLP 300 Tice Blvd., Suite 315 Brian Flynn, Joseph Fazio, 48% | 37% 84 www.pkfod.com Woodcliff Lake, 07677 Kevin J. Keane 11% | 4% 1891 (201) 712-9800 | (201) 712-0988 Cranford, Livingston and Woodcliff Lake 11 | 10 Friedman LLP 100 Eagle Rock Ave. Harriet Greenberg, Fred Berk 45% | 45% 80 www.friedmanllp.com East Hanover, 07936 WND | 10% 1924 (973) 929-3500 | (973) 929-3501 Marlton, Linwood, Toms River and Cape May 11 | 13 Goldstein Lieberman & Co. LLC Crossroads Corporate Center Phillip E. Goldstein 45% | 40% 80 www.glcpas.com 1 International Blvd., Suite 700 10% | 5% 1946 Mahwah, 07495 (201) 512-5700 | (201) 512-5701 13 | 12 Sax LLP 855 Valley Road, 3rd Floor Joseph A. Damiano 45% | 41% 77 www.saxllp.com Clifton, 07013 6% | 8% 1956 (973) 472-6250 | (973) 472-7172 14 | 16 Citrin Cooperman 290 W. Mount Pleasant Ave., Suite 3310 WND 30% | 40% 66 www.citrincooperman.com Livingston, 07039 20% | 10% 1979 (973) 218-0500 | WND 15 | 15 Bowman & Co. LLP 601 White Horse Road Michael D. Cesaro 89% | 10% 56 www.bowmanllp.com Voorhees, 08043 1% | 0% 1939 (856) 435-6200 | (856) 435-0440 Woodbury 15 | 17 Grant Thornton LLP 186 Wood Ave. S., 4th Floor Frank Kurre, Mike Bernstein 38% | 26% 56 www.grantthornton.com Iselin, 08830 36% | 0% 1924 (732) 516-5500 | (732) 516-5502 17 | 22 Wilkin & Guttenplan PC 1200 Tices Lane Edward I. Guttenplan 47% | 49% 54 www.wgcpas.com East Brunswick, 08816 1% | 3% 1983 (732) 846-3000 | (732) 846-0618 Martinsville, NJ 18 | 17 Untracht Early 325 Columbia Turnpike, Suite 202 Tracey B. Early, David S. Untracht 23% | 64% 53 www.untracht.com Florham Park, 07932 4% | 8% 1993 (973) 408-6700 | (973) 408-9275 19 | 20 Sobel & Co. LLC CPAs 293 Eisenhower Parkway, Suite 290 Alan D. Sobel 58% | 32% 52 www.sobel-cpa.com Livingston, 07039 10% | 0% 1956 (973) 994-9494 | (973) 994-1571 20 | 19 Mazars USA LLP 399 Thornall St. Victor Wahba, James Blake 40% | 38% 49 www.mazarsusa.com Edison, 08837 22% | 0% 1921 (732) 549-2800 | (732) 549-2898 20 | 14 Smolin, Lupin & Co. P.A. 165 Passaic Ave., Suite 411 Theodore Dudek 39% | 55% 49 Smolin.com Fairfield, 07004 1% | 5% 1947 (973) 439-7200 | (973) 439-0720 Red Bank 22 | 21 Rotenberg Meril Park 80 W., Plaza 1 Neal Rotenberg, Lawrence Meril 50% | 40% 48 www.rmsbg.com 250 Pehle Ave. 2% | 8% 1986 Saddle Brook, 07663 (201) 487-8383 | (201) 490-2080 23 | 23 Nisivoccia LLP 200 Valley Road, Suite 300 Timothy Mehaffey 65% | 25% 46 www.nisivoccia.com Mount Arlington, 07856 5% | 5% 1970 (973) 328-1825 | (973) 328-0507 Newton 24 | 24 BDO USA LLP 90 Woodbridge Center Drive, 4th Floor Mark Giamo, Robert Klein 78% | 22% 43 www.bdo.com Woodbridge, 07095 0% | 0% 1910 (732) 750-0900 | (732) 750-1222 Marlton 25 | 29 Gramkow, Carnevale, Seifert & Co. LLC 2 Forest Ave. Ted A. Carnevale, Dino Rizzo, 30% | 35% 36 www.gcs-cpa.com Oradell, 07649 Fran Shovlin, Emil Baur 35% | 0% 1983 (201) 599-0008 | (201) 599-0095 25 | 26 Hunter Group CPA LLC 17-17 Route 208 Kevin J. Hansen, Frank Pawlowski 40% | 40% 36 www.thehuntergroup.com Fair Lawn, 07410 20% | 0% 1956 (201) 261-4030 | (201) 261-8588 25 | 27 Mercadien P.C. CPAs P.O. Box 7648 Conrad L. Druker 25% | 17% 36 www.mercadien.com Princeton, 08543-7648 18% | 40% 1963 (609) 689-9700 | (609) 689-9720 Source: The firms. NA: Not Available. NR: Not Ranked. There is no charge to be included in NJBIZ lists. We assume that information provided by representatives is accurate and truthful. We are not responsible for the omission of organizations that do not respond to our requests for information. Information received after press deadline cannot be included. If you wish to be included in future lists please visit www.njbiz.com/lists, select "Products" then, "Complete a Survey" or, contact us at [email protected]. The list, or any parts of them, cannot be reproduced without written permission from NJBIZ. For more information about NJBIZ, please visit www.njbiz.com.

26 October 23, 2017 NJBIZ www.njbiz.com NEW JERSEY'S TOPNEW JERSEY’SCounty TOP and City Business Resources - Central Jersey County and City Business Resources - Central Jersey Listed: Alphabetically Lists Listed alphabetically For full list, visit www.njbiz.com/listsBy Jessica Perry BY JESSICA PERRY FOR FULL LIST, VISIT NJBIZ.COM/LISTS ADDRESS SENIOR EXECUTIVE(S) AGENCY/ORGANIZATION PHONE | FAX COUNTY/IES SERVED WEBSITE EMAIL PURPOSE Air Services Development Organization Newark Airport, Building 80 Helene Gibbs www.asdoonline.com Conrad Road Union | Not-for-profit organization bringing together aviation industry buyers with local businesses, matching the purchasing Newark, 07114 needs of the aviation community with the broad range of products and services available from area businesses (973) 961-4278 | (973) 961-4282 [email protected] Allentown Business Community Association P.O. Box 432 Heather Saracen www.allentownnj.com Allentown, 08501 Monmouth | Nonprofit composed of local Allentown businesses, shops and services (609) 208-0544 | NA [email protected] Asbury Park UEZ One Municipal Plaza Michael Capabianco www.cityofasburypark.com Asbury Park, 07712 Monmouth | Fosters an economic climate that revitalizes designated urban communities and stimulates their growth by (732) 775-2100 | (732) 775-1483 encouraging businesses to develop and create private-sector jobs through public and private investment [email protected] Avon-by-the-Sea Business Community 301 Main St. Timothy M. Gallagher www.avonbytheseanj.com Avon-by-the-Sea, 07717 Monmouth | Local businesses comprised to enhance entrepreneurial vitality (732) 508-4510 | (732) 774-0605 [email protected] Belmar Business Partnership 708 10th Ave. Sal Marchese www.belmarbusinesspartnership.com Belmar, 07719 Monmouth | Manages the private-public partnership to foster economic development and revitalization of Belmar businesses (732) 894-9022 | NA and the business community NA Borough of Roselle UEZ 121-125 Chestnut St., Suite 103 David Brown www.boroughofroselle.com Roselle, 07203-1284 Union | Fosters an economic climate that revitalizes designated urban communities and stimulates their growth by (908) 241-8216 | (908) 241-8639 encouraging businesses to develop and create private-sector jobs through public and private investment [email protected] Carteret UEZ / Office of Community Development 61 Cooke Ave. Michael Sica www.ci.carteret.nj.us Carteret, 07008 Middlesex | Fosters an economic climate that revitalizes designated urban communities and stimulates their growth by (732) 541-3801 | (732) 541-4989 encouraging businesses to develop and create private-sector jobs through public and private investment [email protected] City of New Brunswick UEZ and 25 Kirkpatrick St. Glenn Patterson Office of Planning Community and Economic New Brunswick, 08903 Middlesex | Fosters an economic climate that revitalizes designated urban communities and stimulates their growth by Development (732) 745-5050 | (732) 565-7532 encouraging businesses to develop and create private-sector jobs through public and private investment www.cityofnewbrunswick.org [email protected] City of Perth Amboy UEZ and Office of Economic 260 High St. Roxana Troche Development Perth Amboy, 08861 Middlesex | Fosters an economic climate that revitalizes designated urban communities and stimulates their growth by www.ci.perthamboynj.nj.us (732) 442-6421 | (732) 826-1160 encouraging businesses to develop and create private-sector jobs through public and private investment [email protected] City of Plainfield UEZ 515 Watchung Ave. Jeannette Aparicio www.plainfieldnj.gov Plainfield, 07060 Union | Fosters an economic climate that revitalizes designated urban communities and stimulates their growth by (908) 226-2519 | (908) 226-4909 encouraging businesses to develop and create private-sector jobs through public and private investment [email protected] Commercialization Center for Innovative 675 U.S. Hwy. One Anne Marie Maman Technologies North Brunswick, 08902 Middlesex | Assists start-ups so they may leave the center financially viable, able to commercialize technologies and create www.njeda.com (732) 729-0022 | (732) 745-7270 jobs NA County of Middlesex Office of Economic Development County Administration Building 2nd Floor Kathleen Shaw www.co.middlesex.nj.us 75 Bayard St. Middlesex | Works with businesses and government agencies to foster job growth, aid in workforce development and to New Brunswick, 08901 encourage economic development throughout the county (732) 745-4379 | (732) 745-2568 NA County of Monmouth, Division of Economic 31 E. Main St. John Ciufo Development Freehold, 07728 Monmouth | Works with businesses and government agencies to foster job growth, to aid in workforce development and to www.visitmonmouth.com (732) 431-7470 | (732) 294-5930 encourage economic development throughout the county [email protected] County of Union, Department of Economic 10 Elizabethtown Plaza Amy Wagner Development Elizabeth, 07207 Union | Works with businesses and government agencies to foster job growth, to aid in workforce development and to www.ucnj.org (908) 527-4802 | (908) 352-3980 encourage economic development throughout the county [email protected] County of Union, Workforce Investment Board Administration Building Antonio Rivera www.ucnj.org/wdb 10 Elizabethtown Plaza, Floor 4 Union | Directs training investments to create sustainable jobs, develops marketing strategies to promote business services as Elizabeth, 07207 well as creates competitive economic and workforce policies (908) 527-4195 | (908) 609-7406 [email protected] Cranford Office of Business and Economic 8 Springfield Ave. Kathleen Miller-Prunty Development Cranford, 07016 Union | Responsible for promoting investment, economic growth, public space improvements and business development; www.cranford.com/downtown (908) 709-7208 | (908) 272-5748 advocates for new and existing business and property owners on matters that impact their investments and the business [email protected] district Downtown Freehold 10 E. Main St., Suite 4A Anne Palaima www.downtownfreehld.com Freehold, 07728 Monmouth | Working to foster the downtown's economic development, encourage revitalization and reserve its historic past (732) 333-0094 | (732) 333-0095 [email protected] Downtown Hightstown Inc. 109 Mercer St. Brent Rivenburgh www.downtownhighstown.com Hightstown, 08520 Mercer | All-volunteer group of residents, business owners and stakeholders dedicated to improving the visual appeal, image (609) 448-0110 | NA and desirability of the downtown area of Hightstown [email protected] Downtown Somerville Alliance 25 W. End Ave. Beth Anne MacDonald www.findsomerville.com Somerville, 08876 Somerset | Promotes and enhances the economic well-being and growth of Somerville's historic downtown district (908) 541-1600 | (908) 541-1605 [email protected] Downtown Westfield Corp. 105 Elm St., 2nd Floor Sherry Cronin www.westfieldtoday.com Westfield, 07090-3143 Union | The management entity of the Special Improvement District, committed to strengthening the downtown Special (908) 789-9444 | (908) 789-7550 Improvement District as the center of community life [email protected] Elizabeth Avenue Partnership 913 Elizabeth Ave., Suite 2A Dave Strochak www.elizabethavenue.org Elizabeth, 07201 Union | A nonprofit organization, designed by the city of Elizabeth to manage the Elizabeth Avenue Specialty Improvement (908) 965-0660 | (908) 353-0989 District [email protected] Elizabeth Development Co. 205 First St., Suite 114 Bill O’Dea www.edcnj.org Elizabeth, 07206 Union | Helping businesses succeed by connecting them with the financing and development tools needed to make projects (908) 289-0262 | (908) 558-1142 move quickly and efficiently from proposal to reality [email protected] Elizabeth Development Co./UEZ 205 First St., Suite 114 Daniel Devanney www.edcnj.org Elizabeth, 07206 Union | Fosters an economic climate that revitalizes designated urban communities and stimulates their growth by (908) 289-0262 x 216 | (908) 558-1142 encouraging businesses to develop and create private-sector jobs through public and private investment [email protected] Flemington Business Improvement District 134 Main St. Megan Jones-Holt www.downtownflemington.com/pub/org Flemington, 08822 Hunterdon | Protects and improves the economic potential of each and every business that chooses to locate in Flemington (908) 617-3243 | NA [email protected] Freehold Center Partnership 10 E. Main St., Suite 4A Jeffrey Friedman www.downtownfreehold.com Freehold, 07728 Monmouth | Includes business leaders, professional consultants and residents in Freehold Borough dedicated toward creating (732) 333-0094 | (732) 333-0095 and sustaining a fun, safe and pleasurable experience for guests [email protected]

www.njbiz.com NJBIZ October 23, 2017 27 BUSINESS LISTS NEW JERSEY'S TOP County and City Business Resources - Central Jersey County and City Business Resources - Central Jersey (cont.) Listed: Alphabetically Listed alphabetically For full list, visit www.njbiz.com/listsBy Jessica Perry BY JESSICA PERRY FOR FULL LIST, VISIT NJBIZ.COM/LISTS

ADDRESS SENIOR EXECUTIVE(S) AGENCY/ORGANIZATION PHONE | FAX COUNTY/IES SERVED WEBSITE EMAIL PURPOSE Hamilton Partnership P.O. Box 9270 John K. Rafferty www.hamiltonpartnership.com Hamilton, 08690 Mercer | Public-private partnership between local government and business leadership contributing their experience and (609) 947-6187 | (609) 586-6337 working together in a single organization to carry out programs designed to aid needed industrial, commercial and economic [email protected] development projects within Hamilton Township and facilitate overall business growth Hamilton Township Department of Technology and 2090 Greenwood Ave. Michael Angarone Economic Development Hamilton, 08650-0150 Mercer | Works to improve the commercial tax base and job opportunities for residents by attracting new, diverse businesses to www.hamiltonnj.com (609) 890-3519 | (609) 890-3876 the municipality and maintaining strong relationships with existing businesses while balancing business needs with those of [email protected] the community Hamilton Township Economic Development 2090 Greenwood Ave. John Strycharz Advisory Commission Hamilton, 08650 Mercer | Advisory commission for economic development in Hamilton Township www.hamiltonnj.com NA | NA NA Highlands Business Partnership P.O. Box 375 Carla Cefalo-Braswell www.highlandsnj.com Highlands, 07732 Monmouth | Undertakes, directs, manages, facilitates and oversees recreational, educational and cultural activities, events and (732) 291-4713 | (732) 872-1031 programs intended to promote the public welfare; the civic, educational, historic, cultural and economic well-being and vitality [email protected] of community life within the borough of Highlands Hillside Township UEZ Municipal Building Patricia Perkins-Auguste www.hillsidenj.org Liberty and Hillside Avenues Union | Fosters an economic climate that revitalizes designated urban communities and stimulates their growth by Hillside, 07205 encouraging businesses to develop and create private-sector jobs through public and private investment (973) 926-3002 x 307 | (973) 923-1534 [email protected] Historic Midtown Elizabeth SID 1139 E. Jersey St., Suite 616 Janice De Avila www.elizabethsid.org Elizabeth, 07201 Union | A diverse, active downtown shopping district full of shoppers, city and county officials and college students (908) 355-9600 | (908) 355-9800 [email protected] Keyport Bayfront Business Cooperative 70 W. Front St. Charlie Merla www.keyportonline.com Keyport, 07735 Monmouth | Injecting new interest in Keyport through advertising, publicity and events that draw families and friends (732) 739-5188 | NA [email protected] Lakewood Development Corp. / UEZ 231 Third St. David Klein www.lakewoodnj.gov/department/uez Lakewood, 08701 Monmouth, Ocean | Fosters an economic climate that revitalizes designated urban communities and stimulates their growth by (732) 364-2500 | (732) 719-4838 encouraging businesses to develop and create private-sector jobs through public and private investment [email protected] Linden Economic Development Corp. 301 N. Wood Ave. Richard Puschel www.linden-nj.org Linden, 07036 Union | Works with businesses and government agencies to foster job growth and to encourage economic development (908) 474-8405 | (908) 474-8497 throughout the city [email protected] Linden Industrial Association P.O. Box 2369 Lois Bass www.lia-nj.com Westfield, 07091 Union | Promotes the mutual interests of industries located in or having interests in the city of Linden (908) 233-6800 | (908) 518-2760 [email protected] Long Branch UEZ City of Long Branch, 228 Broadway Jacob Jones www.visitlongbranch.com Long Branch, 07740 Monmouth | Fosters an economic climate that revitalizes designated urban communities and stimulates their growth by (732) 923-2040 | (732) 263-0218 encouraging businesses to develop and create private-sector jobs through public and private investment [email protected] Main Street Highland Park 212 Raritan Ave. Rebecca Hersh www.mainstreethp.org Highland Park, 08904 Middlesex | Nonprofit community development organization that manages the downtown Business District for the benefit of (732) 828-8444 | (732) 828-6555 the merchants, business owners and residents of Highland Park [email protected] Mercer County Office of Economic Development and 640 S. Broad St. Elizabeth Muoio Sustainability Trenton, 08604 Mercer | Works with businesses and government agencies to foster job growth, to aid in workforce development and to www.nj.gov/counties/mercer/business/economic (609) 989-6555 | NA encourage economic development throughout Mercer County NA Mercer County Workforce Investment Board 640 S. Broad St. Beverly Mills www.state.nj.us/counties/mercer/commissions/ P.O. Box 8068 Mercer | Helping to develop, maintain and implement a quality workforce that is consumer-based and labor-market driven investment Trenton, 08650 (609) 989-6827 | (609) 989-6882 [email protected] Monmouth-Ocean Development Council Monmouth Shores Corporate Park Benjamin L. Waldron www.modc.com 4814 Outlook Drive, Suite 102 Monmouth, Ocean | Consortium of business, government, professional and community leaders in the Monmouth/Ocean Wall, 07753 County area serving as a catalyst for positive change and an advoate of solutions and opportunities for the region's business (732) 751-8696 | (732) 751-8698 and economic development through programs of planned cultural, educational, environmental, professional and tourism [email protected] growth New Jersey PACE 8 Revere Drive Jonathan Cloud www.newjerseypace.org Basking Ridge, 07920 Somerset | Provide assistance to enterprises and nonprofits with business initiatives that address issues of sustainability (908) 396-6179 | (908) 842-0422 [email protected] New Providence Business 360 Elkwood Ave. Michelle Brugger, Jimmy Vardas www.npbpa.com New Providence, 07974 Union | Promotes the business community, serves as a vehicle to respond to community needs, enhance awareness of New (908) 665-1400 x 232 | NA Providence businesses and unify communications among and between businesses and the community [email protected] Plainfield Special Improvement District 1000 South Ave. Nimrod Webb www.positivelyplainfield.org Plainfield, 07062 Union | Focuses on business retention activities, security improvement and maintenance to bring about revitalization and (908) 756-1088 | NA value enhancement; the initiative will also undertake aggressive marketing and development efforts that strengthen and [email protected] expand entrepreneurship and the wealth and prosperity within the special improvement district and the community Raritan Valley Community College Division of Workforce Training Bldg. Janet Perantoni Corporate and Continuing Education 118 Lamington Road Somerset | Provides quality educational experiences to help individuals reach their highest potential, enhancing personal www.raritanval.edu/cce Branchburg, 08876 enrichment and professional growth through lifelong education and workforce development (908) 218-8871 | (908) 526-3576 [email protected] Red Bank River Center 46 English Plaza, Suite 6 James Scavone www.acoollittletown.com Red Bank, 07701 Monmouth | Special Improvement District established to revitalize and manage downtown Red Bank (732) 842-4244 | NA [email protected] SCORE Chapter 14 | Central Jersey Raritan Valley Community College Allison Gill www.centraljersey.score.org 14 Vogt Drive Hunterdon, Middlesex, Somerset | Volunteer association sponsored by the U.S. Small Business Administration; volunteers work Somerville, 08876 in or near their home communities to provide management counseling and training to first-time entrepreneurs and small (908) 526-1200, ext.8235 | (908) 526-3576 business owners [email protected] SCORE Chapter 15 Small Business Administration Dennis Newnham www.scoremetronj.com 2 Gateway Center, 15th Floor Essex, Hudson, Union | Volunteer association sponsored by the U.S. Small Business Administration; volunteers work in or near Newark, 07102 their home communities to provide management counseling and training to first-time entrepreneurs and small business (973) 645-3982 | NA owners [email protected] SCORE Chapter 36 Brookdale Community College NA www.monmouth.score.org 765 Newman Springs Road Monmouth | Volunteer association sponsored by the U.S. Small Business Administration; volunteers work in or near their home Lincroft, 07738 communities to provide management counseling and training to first-time entrepreneurs and small business owners (732) 224-2573 | NA NA SCORE Chapter 631 213 Carnegie Cetner John Biancanano www.scoreprinceton.org Princeton, 08542 Mercer | Volunteer association sponsored by the U.S. Small Business Administration; volunteers work in or near their home (609) 393-0505 | NA communities to provide management counseling and training to first-time entrepreneurs and small business owners [email protected]

28 October 23, 2017 NJBIZ www.njbiz.com BUSINESS LISTS NEW JERSEY'S TOP County and City Business Resources - Central Jersey County and City Business Resources - Central Jersey (cont.) Listed: Alphabetically Listed alphabetically For full list, visit www.njbiz.com/listsBy Jessica Perry BY JESSICA PERRY FOR FULL LIST, VISIT NJBIZ.COM/LISTS ADDRESS SENIOR EXECUTIVE(S) AGENCY/ORGANIZATION PHONE | FAX COUNTY/IES SERVED WEBSITE EMAIL PURPOSE Somerset County Business Partnership 360 Grove St. John Maddocks Office of Economic Development Bridgewater, 08807 Somerset | Works with businesses and government agencies to foster job growth, to aid in workforce development and to encourage www.scbp.org/economic-development (908) 218-4300 | (908) 722-7823 economic development throughout the county [email protected] Spring Lake Business Improvement District 1207 Third Ave. NA www.visitspringlake.com Spring Lake, 07762 Monmouth | Encouraging the involvement of all concerned Spring Lake property and business owners (732) 449-0037 | NA [email protected] Springfield Community Partnership 100 Mountain Ave. Beth Lippman www.springfieldbid.com Springfield, 07081 Union | Committed to improving the quality of doing business for property owners, businesses and residents by making Springfield a self- NA | NA sustaining, attractive, business destination for consumers as well as securing a clean, pleasant shopping/dining/professional environment [email protected] Summit Downtown Inc. 18 Bank St., Suite 108 Nancy Adams www.summitdowntown.org P.O. Box 1502 Union | A nonprofit dedicated to the development and improvement of the quality of life in the business community in the center of the Summit, 07902 city, with a specific focus on the central business district and a goal to harmonize the business and residential communities (908) 277-6100 | (908) 273-9256 [email protected] The Jersey Shore Partnership 101 Crawford Corner Road, Bldg. 1 Suite 1-511 Linda Kellner www.jerseyshorepartnership.com Holmdel, 07733 Monmouth | Advocate for initiatives unique to Jersey Shore coastal communities, emphasizing shore protection and beach replenishment; (732) 212-4145 | (732) 212-4175 takes an active role in tourism, coastal resources, infrastructure, education and emergency preparedness [email protected] Township of Franklin Department of Economic 475 DeMott Lane Jarrett Sutton Development Somerset, 08873-7700 Somerset | The attraction and retention of business, as well as the development and implementation of programs and services, that will www.franklintwpnj.org (732) 873-2500 x 235 | NA improve the township's economic base and quality of life for businesses and residents NA Trenton Downtown Association 16 E. Hanover St. Tom Gilmour www.desitnationtrenton.com/trenton-downtown- Trenton, 08608 Mercer | Manages the Special Improvement District; provides ombudsman services, financing information, referrals, public relations association (609) 393-8998 | NA consulting, event planning and marketing assistance to Trenton businesses [email protected] Trenton UEZ City Hall Annex, 319 E. State St. Thomas McGough www.trentonnj.org Trenton, 08608 Mercer | Fosters an economic climate that revitalizes designated urban communities and stimulates their growth by encouraging (609) 989-3508 | (609) 989-4243 businesses to develop and create private-sector jobs through public and private investment [email protected] Union County Business Resource Center 200 W. Second St., 2nd Floor Anne Schiadaresis NA Plainfield, 07060 Union | Part of the One-Stop Career Center, provides a single point of contact to assist existing and emerging New Jersey-based businesses (908) 412-7975 | (908) 412-2673 at no cost [email protected] Union County College Industry Business Institute 40 W. Jersey St., 5th Floor Lisa Raudelunas Hiscano www.ucc.edu Elizabeth, 07202 Union | Develops training solutions to improve overall productivity, reduce cost and strengthen the competitiveness of local employers (908) 965-2358 | (908) 965-2359 [email protected] Union Township Department of Economic Development 1976 Morris Ave. Fatimah Raymond www.uniontownship.com Union, 07083 Union | Provides structure to formulate policy for industrial and commercial districts and to promote and revitalize the township by (908) 851-5466 | (908) 851-4667 attracting and retaining industrial and commercial investment while increasing the economic base and creating job expansion [email protected] US Department of Commerce - Veterans Administration Bldg., Tricia McLain Commercial Service, Northern New Jersey 20 Washington Place, Suite 615 Union | Federal government agency working closely with the SBA and NJBAC to support N.J. companies exporting goods and services www.export.gov Newark, 07102 overseas (973) 645-4682 x 212 | NA [email protected] Source: UCEDC. County and City Business Resources - South Jersey coming Oct. 30, 2017; County and City Business Resources - Central Jersey appeared Oct. 9, 2017. (1) Formerly Brick City Development Corporation NR: Not Ranked. NA: Not Available. NR: Not Ranked. There is no charge to be included in NJBIZ lists. We assume that information provided by representatives is accurate and truthful. Information received after press deadline cannot be included. If you wish to be included in future lists visit www.njbiz.com/lists and click on "Complete Survey" or e-mail [email protected]. The lists, or any parts of them, cannot be reproduced without written permission from NJBIZ. For more information on NJBIZ, please visit www.njbiz.com.

Thursday, May 4, 2017 The Palace at Somerset Park Tuesday,7:30am May to 12:00pm 8, 2018 TheSomerset, Palace at SomersetNJ Park 7:30 am to 12:00 pmFeaturing a Keynote Presentation bySomerset, NJ Carlos Rodriguez President and CEO, ADP 2017 Corporate Lifetime Call for Nominations!Achievement Award Honoree

The ADP logo and ADP are registered trademarks of ADP, LLC. ADP A more human Honoring small to mid-sized Newresource Jersey-based is a service mark of ADP, LLC. companies and their CEOs whose organizations The 2017 Corporate Growth Award Honorees are: • Billtrust -have Flint Lane, exemplified CEO and Founder sustained innovation, • LB Electric Co. - Leon K. Baptiste, President and Founder • LPS Industriesexcellence - Madeleine Robinson, and CEO corporate growth. • Tucker Toys - Mark Nathan, CEO and President Nominations now being accepted for the 2018 ACG NJ Corporate Growth Awards for top A “must-attend” event for C-Suite executives, business owners, private equity, bankers, CPAs, performingangel investors,companies attorneys, who meet consultants, our selection and others criteria*. focused on corporate growth in New Jersey In additionand the to entirereceiving tri-state publicity area. prior to the conference, CEOs of this elite group of companies will Weekends be formally recognized and participate in a moderated panel discussion during the conference. CEOs will share their journeys and approaches to growth with our audience of top business leaders, who will have the advantage of an in depth look “behind the scenes” of these unique organizations! www.SteveAdubato.org /SteveAdubatoPhD @SteveAdubato SteveAdubatoPhD Deadline for all nominations is December 31, 2017

*Visit www.acg.org/nj for selection criteria and to nominate today! Visit855-224-6500 www.acg.org/nj | [email protected] to register 855-224-6500 | [email protected] www.njbiz.com NJBIZ October 23, 2017 29 eXeCutIVe MOVEs NJBIZ EXECUTIVE MOVES HospitalityAnnounce your new hires or joinspromotions the Devils toand the Prudential elite audienceCen- CLOse of NJBIZ uP in print and online! The New Jersey Devils and Prudential ter after nearly eight years at Luminary Center announced five additions to the Management Group, where she served John F. Lanza organization’s senior leadership, corpo- as principal of brand management and ResuMe Englewoodrate partnership Hospital and andhuman Medical resources andmarketing utility strategyengineer consultant.- During HealthNew Position:Group’s Tax grants partner, team Metro to Park boost office itsmanaging Engineering, partner at RSM where Global he remains in an advi- Centerteams. names chief of surgery and ing;her timestormwater at the firm,man -Saliu worked with privateWhat foundationyou do: I am the and tax public service coordinatorfunding of for corporatesory role, and and partnership chief accountingclients of RSM’s officer Metro for surgicalNational services Basketball Association vet- agementJohnson &and Johnson’s struc- corporate equity its Parkinitiatives New Jersey and office institutes. and the lead tax partner for severalDF King major Worldwide. Giaquinto is the pres- eran Donna Daniels has been named turaland consumerdesign; building products groups on mar- public clients. I focus my practice on large, multinationalident con- of Financial Executives International In July 2017 Bergensenior vice president andketing public and works advertising con- campaigns that VNAsolidated Health corporate Group and hires partnership business entitiesNJ in chapterthe and volunteers with Hope for County’s Englewoodof business services. struction;generated andglobal regula brand- awareness and corporateindustrial products,compliance technology officer and life sciences industries.Animals cat rescue group; he is a certified Hospital and MediDaniels- will help op- toryincreased permitting product for resreputation.- andOld HIPAA gig: I served privacy for 12 officer years as a tax services coordinatorpublic accountant and holds a BBA in Ac- cal Center namedtimize Dr. the organiza- idential,Joyce Jelkscommercial, has been namedPeter vice McCabe presi- forIn a JulyBig Four 2017 accounting Ami firm, where I oversaw Newcounting Jersey from Pace University. James McGinty tion’schief core business industrial, municipal,dent of human resourc- Sparanotax operations. joined Visit- of surgery and surgistrategies- and work institutional andes andtelecommunications will oversee the ingschool Nurse ties: Association Graduated from St. Peter’s College withDesktop a Alert Inc. founder, president cal services. In hiswith role key partners, in- projects. Prior to continuedjoining Dewberry, growth Mcof- Healthbachelor’s Group degree as in accounting.its and federal certifications manager McGinty is responsiblecluding FanaticsJames McGinty and Cabe designed andPrudential managed Centerprivate andand corporateFamily tree: compliance Wife, Maryann Marchi (known each other forHoward Ryan has served as the found- Donna Daniels for providing leaderLegends,- to efficiently public land developmentthe Devils’ projects culture, in in-the officer35 years); and son,HIPAA Jack, 12;pri and- daughter, Sofia, 11 er, president and federal certifications shipgenerate for inpatient revenue. andDaniels outpatient will join opera the- tri-state area. He iscluding knowledgeable the organiza- in all vacyHometown: officer. SparanoWestfield is manager for Desktop Alert Inc., a mass tionsenior rooms, leadership surgical team staff andand reportprograms to stages of the landtion’s development investment process, in responsibleJust JeRseY: for training Ami Sparano notification delivery system, since 2005. focusingPresident on Hugh patient Weber safety. She and most efficiency. recent- from feasibility throughrecruiting, construction, developing and employeesFavorite Place and medicalat the shore: Manasquan His vision relies on celebrating the gen- Joyce Jelks McGintyly served is as a vice board-certified president of general team mar- sur- has experience withand mixed-use retaining properties; the in- staffWhen in essential you brag componentsabout Jersey to of people regulatory from esis of the company and striving to be a geonketing with and expertise business inoperations bariatric surgeryduring manufacturingdustry’s top talent. facilities Jelks, and who warehouses; will report complianceout of state, and you quality say: Spend care. time She 20 willmiles also constant pioneer and leader in providing andher 25-yearperforming tenure minimally at the NBA. invasive and religious,to Executive higher-education Vice President and Generalmedical guideoutside the the company Newark airport. through Most visitors regulatory services allowing for critical, live-saving roboticAdam weight-loss Cross, vice procedures president toof cor-help campuses;Counsel Brad hotels; Shron, and wasother most commercial recently andonly programmatic see what is around changes, the airport as andmandated notifications in the US and worldwide. Ry- patients lose weight,porate improve, partnerships, resolve and sites.with BarclaysIn his new Center, role, whereMcCabe she will held be the re- by don’tthe Centersget to enjoy for the Medicare “Garden State,” and the Medic - an’s previous experience developing cus- prevent conditionswill associated oversee withthe spon-obesi- sponsiblesame title. for managing and designing aidShore, Services horse countryand resulting or the Pine from Barrens. ongoing tom websites, browsers, toolbars and chat ty. He has a specialsorship interest sales in novel team surgi to- bothLeonard major andEdwards minor hassite beendevelopment named healthBruce, care Bon reform. Jovi, Whitney or sinatra: technology provided the framework for his cal techniques anddrive technology new business including and projects in residential,senior public, director commercial of cor- Bruce developing and founding of Desktop Alert simulation and roboticcreate surgery. impactful rela- and industrial landporate development partnerships sectors. Trenk,Yankees, DiPasquale, Mets, Jets or Della giants: Fera Yankees & after September 11. He is also responsible tionships. He will lead “We’re glad Peter hasand joined will ourreport team andto SodonoALL YOu: P.C. name new CFO for launching the first public police depart- Dewberry announcesthe development and his extensive backgroundCross. Edwardsin land planwill- WhatOn October you wanted 2, to2017 be when you ment website in the country in 1995, which professional landdelivery surveyor of sponsorship ning will be a greatbe asset responsible to our services for in Ronaldwere 6: I haveGiaquinto had a job since I was featured a focus on deliverable emergency Adam Cross Professional opportunities,ser- includ- New Jersey,” says Dewberrygenerating Vice Presidentsponsor- joined11. I alwayslaw firm wanted Trenk, to be in business. communications. Desktop Alert mitigates vicesing negotiation firm Dewberry and contract execution, Chris Cirrotti. ships and managing DiPasquale,Dream vacation: Della Anything Fera that the loss of life, infrastructure and critical recentlyand will promotedreport to ChiefLisa Revenue Officer the sponsorship bud- & Sodonoinvolves food P.C. and as a chiefbeach. assets by providing the ability to deliver Leonard Edwards PetersonAdam Davis to profession. Cross joins- the organization VNA Health Groupget names goals chieffor both the financialYour passion: officer. Hockey andIn baseball. emergency communications instantly and alafter land more surveyor. than seven Pe- years at Six Flags governmentteam and arena. affairs He officermost recently and VP held additionI still play toice hockeyoversee once- a week affordably across competitive barriers and tersonEntertainment, has more where than he managed the ofthe foundation same title at relations Ice Arizona, the Arizona ingand corporate enjoy every finance,pitch of a baseballRonald Giaquinto local and disparate networks for the mil- 15East years-experience Coast corporate as alliance sales and CoyotesHolmdel-based Member Club, Vis- where he led the accountinggame. and oper- itary, government, industrial, commercial afulfillment transportation team. engiHe -previouslyLisa Peterson worked itingsales strategyNurse andAssocia execution- for the cor- ationssomething Giaquinto about youwill that also your serve on the and higher education sectors. neersponsorship and project and salesman- for the New York tionporate Health partnerships Group, andepartment. company’sco-workers management don’t know: I’m team a reporting to ager,Yankees specializing and New Jerseyin highway Nets. design. She independent, not-for- Richardrenaissance D. Trenk, man. I managingcan make partner. “Ron is atFatima present Saliu one of has only been four womennamed invice the profitLaw visiting nurse as- is crèmean accomplished brûlée, fly fish, fix financial things manager state to hold dual licensurepresident asof bothmarketing a pro- sociationLindabury and announcedvisiting the addition of whoin thewill house, strategically do your taxes assist and our firm in its HOW TO SUBMIT fessional engineer and professional land physician service, has continued growth,” Trenk said. Giaquinto partnerships and will attorney Anne Marie Robbins to its Wills, I’m a triathlete. Please include employee’s full name; a surveyor. also report to Davis. named Teresa L. LeeTrusts as & EstatesTeresa LeePrac- comes to the role with more than 25 years’ high-resolution headshot photograph; the She will lead the mar- its chief governmenttice. af -Robbins has more experience in finance and accounting, title of the new position; company name; HOW tO suBMIt Dewberry hires seniorketing partnerships fairs officer and vicethan president 30 years’ of foundaexperi-- businessGeorgetown operations University, and Robbins strategic earned anal- company location and business; previous executive Moves items may be emailed to project manager tion relations. Working in the Washington ysis risk management, mergers and ac- team across all spon- ence counseling high her law degree from The University of [email protected] and with company; “Executive and Moves” educational in the subject Peter McCabe sorshiphas joined activations the Parsip to- D.C. area Lee willnetworth lead efforts individuals to engage quisitions,Houston Law human Center, resources, where she information graduated line.background Please include with employee’s degree fulland name; institution. a high-res- pany office of professionalensure seamless services firmde- lawmakers and payersand onfamilies critical, in thenational area technologycum laude. Sheand is an a member extensive of thebackground New Jer- olution headshot photograph; the title of the new Fatima Saliu TO SUBMIT YOUR LISTING ONLINE GO TO: Dewberry as a seniorvelopment, project integration manager. health issues facingof olderestate Americans planning andand insey domestic and Texas and State international Bar Associations profession and is- position;NJBIZ.com/executivemoves company name; company location and business; previous position and company; and educational Withand implementationmore than 30 years of oflong-term experience cam- as a other vulnerable administration.populations. She will aladmitted service tofirms. practice He inpreviously New Jersey, served Penn- as Or email [email protected] Anne Marie Robbins background with degree and institution. civilpaigns engineer, and project-based McCabe is an efforts. expert inSaliu site also be responsible forA leadinggraduate the VNAof chiefsylvania financial and Texas. officer for Matrix new World

30www.njbiz.com MonthAndDay, 2017 NJBIZ njbiz April 25,www.njbiz.com 2016 39 Calling all

Super Companies

Registration is now open for the 2018 Best Places to Work in NJ program. List making companies will be honored at an awards ceremony Why on April 25, 2018, & will be featured in a special publication to NJBIZ. Participate? To register visit bestplacestoworknj.com Registration Deadline:

Enjoy benefits such as: Friday, Nov. 17, 2017 * Heightened company pride * Public relations & marketing advantages * Employee feedback report

Experience Powerful Results: * Reduce turnover * Higher customer satisfaction * More successful recruiting

In Partnership With: DEALS ROUNDUP

BANKRUPTCIES GOYOGO Frozen Yogurt Public Service Enterprise US Gold Corp.; Edward Document Scanning Sys., LLC, c/o 83 Morning Group Inc.; Ralph Izzo, M. Karr, chief executive Seller/Target: Konica Mi- Diane Marchesani DO Watch Road, Wayne, chief executive officer; officer; Transaction: nolta Business Solutions; LLC, 124 Village Green Transactions 07470; Industry: Transaction: Sell; Transaction Purchase; Transaction Date: Sep-15-2017; Price: Way, Hazlet, 08205; North Restaurant; Adviser: Price: Low 48.83, High Price: Low 1.8, High 1.8; NA; Percent: 100%; Type: Industry: Physician; Ad- ■ Commercial real estate firm the Hamp- Wasserman, Jurista & 48.83; Amount: $3,902,094; Amount: $50,000; Cur- Document preparation viser: I. Mark Cohen Law shire Cos. recently announced the sale Stolz; Court: Newark; Current holdings: 702,301 rent holdings: 417,561 services Group; Court: Camden; of a four-building, 119,992-square-foot Chapter 7; Case Number: Chapter 7; Case Number: Public Service Enterprise C. R. Bard Inc.; Timothy Hooper Commons Toms industrial portfolio in Danbury and Berlin, 17-30290-VFP 17-29942-ABA Group Inc.; Ralph Izzo, chief P. Collins, officer; Trans- River NJ, Seller/Target: Connecticut, to a private buyer. The sale US Treasure LLC, 389 executive officer; Transac- action: Sell; Transaction Alto Real Estate Funds; Doran Holding Co., 13 of the properties in the portfolio, 55 Old Route 10 E., East Ha- tion: Option Exercise; Trans- Price: Low 322, High 322; Date: Sep-18-2017; Price: Garfield Place, South Ridgebury Road, Danbury, 81 Fuller Way nover, 07936; Industry: action Price: Low 48.21, High Amount: $2,700,936; 21.1; Percent: 100%; Hackensack, 07606; and 83 White Oak, Berlin, was led by Pat Antiques dealer; Adviser: 48.21; Amount: $3,852,544; Current holdings: 27,002 Type: Lessors of nonresi- Industry: Business dential buildings (except Mulready and John McCormick of CBRE Levitt & Slafkes P.C.; Current holdings: NA C. R. Bard Inc.; Timothy services; Adviser: Trenk, Court: Newark; Chapter mini-warehouses) New England on behalf of Hampshire. Two DiPasqualel; Court: New- Cognizant Technology P. Collins, officer; Trans- of the buildings located at 55 Ridgebury 7; Case Number: 17- action: Option Exercise; Quail Ridge, Seller/ ark; Chapter 11; Case Solutions Corp.; Sean Mid- Road, total 42,500 square feet and 3,000 30300-SLM Transaction Price: Low Target: Kushner Cos.; Date: Number: 17-29969-SLM dleton, officer; Transaction: Sep-18-2017; Price: 190; square feet. The properties sold in Berlin LJP International LLC, Sell; Transaction Price: Low 84.58, High 84.58; 1426 Restaurant Amount: $709,415; Percent: 100%; Type: total 22,138 square feet at 81 Fuller Way c/o Wilentz, Goldman & 73.89, High 73.89; Amount: LLC, 1426 Willow Current holdings: NA Lessors of residential and 50,354 square feet at 83 White Oak. Spitzer P.A., 90 Wood- $2,364; Current holdings: Ave., Hoboken, 07030; buildings and dwellings Financial terms were not disclosed. bridge Center Drive Suite 2,937 Commvault Systems Industry: Restaurant; 900 Box 10, Woodbridge, Inc.; Gary. Merrill, Cook Pharmica LLC, Sell- Adviser: Webber McGill Cognizant Technology ■ Marcus & Millichap announced recently the sale of an 11,500-square- 07095; Industry: Busi- officer; Transaction: er/Target: Catalent Inc.; LLC; Court: Newark; Solutions Corp.; Debashis foot building in Clifton for $1.75 million, according to Brian C. Hosey, re- ness services; Adviser: Sell; Transaction Price: Date: Sep-19-2017; Price: Chapter 7; Case Number: Chatterjee, officer; Transac- gional manager of the firm’s New Jersey office. The property, located at 449 Wilentz, Goldman & Low 62.26, High 62.29; 950; Percent: 100%; Type: 17-30012-RG tion: Sell; Transaction Price: Lakeview Ave., is currently occupied by a Dollar General. Ben Sgambati, Spitzer P.A.; Court: Amount: $452,125; Cur- Biotechnology company Trenton; Chapter 7; Case Low 74, High 74; Amount: Alan Cafiero and John Moroz, investment specialists in Marcus & Millichap’s E&E Landscaping Co. rent holdings: 22,772 Alexandra Holding LLC- Number: 17-30319-CMG $162,060; Current holdings: New Jersey office, exclusively marketed the property on behalf of the seller. Inc., 160 Friendship 537, Seller/Target: Metro 38,509 Commvault Systems The buyer, a developer, was secured and represented by Cafiero, David Road, Cranbury, 08512; Inc.; Gary Merrill, officer; Warehouse & Delivery; INSIDER TRADING Cafiero and Sgambati. Industry: Law Firm of Cognizant Technology Transaction: Option Ex- Date: Sep-20-2017; Price: Brian W. Hofmeister IDT Corp.; Eric F. Cosen- Solutions Corp.; Sumithra ercise; Transaction Price: 3.8; Percent: 100%; Type: ■ LLC; Adviser: Landscape tino, director; Transaction: Gomatam, officer; Transac- Child care center Kiddie Academy has leased 8,500 square feet in Low 13.81, High 22.59; Lessors of nonresiden- a Hamilton-based plaza, according to Chuck Lanyard, president of The architecture; Court: Sell; Transaction Price: tion: Sell; Transaction Price: tial buildings (except Amount: $134,740; Goldstein Group. Kiddie Academy will be located at the Buckley Plaza on Trenton; Chapter 11; Low 13.2, High 13.2; Low 74, High 74; Amount: Current holdings: NA mini-warehouses) Case Number: 17- Amount: $7,248; Current $592,000; Current holdings: Route 130 — a prime retail site with abundant parking and close access to Pathfinder Resources 30237-CMG holdings: 2,300 9,509 Middlesex Water Co.; Interstate 195, according to The Goldstein Group. Neighboring tenants at Gerard L. Esposito, LLC, Seller/Target: District the plaza include Walmart, ShopRite, BJ’s Wholesale Club, Home Depot, 5 Investments L.P.; Date: president; Transaction: Kohl’s and McDonald’s. Lew Finkelstein, executive vice president, repre- Sell; Transaction Price: Sep-21-2017; Price: NA; Transactions sented the landlord, Manhattan Towers LLC, in the transaction. Financial Low 42.89, High 42.89; Percent: NA; Type: Other Central Amount: $72,913; Cur- management consulting terms were not disclosed. Additionally, The Goldstein Group is now handling ■ Princeton-based Community Options rent holdings: 20,508 services the sale of the shopping center. Inc., a nonprofit supporting people with disabilities, announced recently it has Campbell Soup Co.; NEW BUSINESS Charles R. Perrin, The Steed’s 911 LLC, Evolution Avenue LLC, Muzique LLC, 500 Chews appointed Courtney Eidel to its new chief director; Transaction: Oceanside Dentistry P.A., 7615 Holman Ave., Penn- 330 Changebridge Road Landing Road, Linden- compliance officer. “With the unpre- Sell; Transaction Price: 602 Route 72 W., Mana- sauken, 08110; Contact: Suite 101, Pine Brook, wold, 08021; Contact: dictability of the Affordable Care Act, Low 46.46, High 46.46; hawkin, 08050; Contact: Valdez Steed 07058; Contact: United Karly Muzalier States Corporation Agents Community Options is taking a proactive Amount: $107,046; Cur- David Gamache BOK Management RCH II LLC, 27 Redbud Inc. role to ensure that we are ahead of the rent holdings: 63,931 Lihong Traditional Chi- LLC, 330 Changebridge Road, Piscataway, curve with compliance for those we MERGERS nese Medicine P.C., 150 Road Suite 101, Pine Pawsitively Beautiful 08854; Contact: Robert support with autism, intellectual and other & ACQUISITIONS Flanagan Way 2nd Floor, Brook, 07058; Contact: LLC, 330 Changebridge A. Crystal Secaucus, 07094; Contact: Road Suite 101, Pine developmental disabilities,” CEO and Pres- United States Corporation 1172 Clinton Ave LLC, Irene Hong Brook, 07058; Contact: ident Robert Stack said. “I am pleased to TeamLink HR, Seller/ Agents Inc. 21 Susan Lane, East United States Corporation appoint Courtney to this prestigious post.” Target: Clear Employer Wilson & Associates Rostronimage LLC, Brunswick, 08816; Agents Inc. Eidel has 17 years of human resources ex- Services LLC; Date: Aug- CPAs a Professional 1615 Martin Road, Wall, Contact: Brian Brown 28-2017; Price: NA; Per- Accountancy Corp., 208 07753; Contact: Tom 2219 Ravenscrest perience, and has worked with Community Kobus Enterprises LLC, cent: 100%; Type: Human W. State St., Trenton, Rostron Drive LLC, 24 Marion Options for eight years. 235 Terrace Road, Frank- resources and executive 08608; Contact: Incorp Drive, Plainsboro, 08536; Rocketfuel Cold Brew lin Lakes, 07417; Contact: ■ Commercial real estate firm The Kislak Co. recently announced it search consulting services Services Inc. Contact: Hardik Patel LLC, 330 Changebridge Edward Kobus brokered the sale of the Ocean Court by the Sea motel in Long Branch to an Arc Logistics Partners Dialcare Group New Road Suite 101, Pine MVP Investments LLC, affiliate of Kushner Cos. Kislak’s senior vice president Jeffrey Wiener and L.P., Seller/Target: Zenith Jersey P.C., Princeton Brook, 07058; Contact: MKDA LLC, 405 68th 18 Winding Hill Drive, Chief Operating Officer Jason Pucci arranged the transaction. “The property Energy L.P.; Date: Aug- South Corporate Center, United States Corporation St., Guttenberg, 07093; 29-2017; Price: 486.539; Mount Olive Twp., 07840; was a natural fit for Kushner given its oceanfront location next to Pier Vil- Ewing, 08628; Contact: Agents Inc. Contact: Moises Roca Contact: John Perdomo lage,” Wiener said. “Over the past 30 years, my colleagues and I have done Percent: 73.2%; Type: Corporation Service Co. Quevedo Porter Nash LLC, 734 more than 70 deals with Kushner and Jason and I were pleased to assist with Whole petroleum stations JP Steele LLC, 128 Lake Red & Green Driving 5th Ave., River Edge, 2108 Ravenscrest and terminals Pochung Road, Sussex, their expansion in Long Branch.” Ocean Court by the Sea is located at 170 School USA P.C., 1220 07661; Contact: Brendan Drive LLC, 24 Marion Arc Logistics Partners 07461; Contact: Jill Ocean Ave., south of Kushner’s ongoing Pier Village project in Long Branch. Route 31, Clinton, 08809; Wilson Drive, Plainsboro, 08536; L.P., Seller/Target: Zenith Herman The property spans 8/10ths of an acre and was sold for $6 million. Brach Contact: Firoz Ahmed Contact: Hardik Patel Burns Capital Advisors Eichler’s Alan Hammer and Jeffrey Itzkowitz represented the buyer, and Energy L.P.; Date: Aug- Flipping West Orange DMB Dental P.C., 11 Lakev- LLC, 330 Changebridge All American Power Gerald Miller of Miller, Meyerson & Corbo represented the seller, Mary 29-2017; Price: 76.02; 004 LLC, 208 Lenox iew Road, Deal, 07723; Road Suite 101, Pine Systems LLC, 330 Percent: 26.8%; Type: Ave., Westfield, 07090; Developers LLC. Contact: David Betesh Brook, 07058; Contact: Changebridge Road Suite Whole petroleum stations Contact: Leon Rybner ■ Piscataway-based IEEE, a technical professional organization dedicated and terminals Barce LLC, 141 South United States Corporation 101, Pine Brook, 07058; Agents Inc. Contact: United States All-In Products LLC, 730 to advancing technology, announced recently that Stephen Welby will Arc Logistics GP LLC, Ave. Suite 203, Fanwood, Corporation Agents Inc. E. Laurelton Ave., Maple 07023; Contact: Sameul MCH Enterprises LLC, become its new chief operating officer and executive director, effective Seller/Target: Zenith Shade, 08052; Contact: A. Garcia 330 Changebridge A Dog and Six Cats LLC, Jan. 2, 2018. “Stephen Welby has the experience and passion to lead IEEE Energy L.P.; Date: Aug- Johnathan Rivera into the future,” Karen Bartleson, IEEE CEO and president, said. “He is a 29-2017; Price: 94.5; Arte’ Design & Marketing Road Suite 101, Pine 330 Changebridge Road Jennifercorbo LLC, 33 dynamic leader with a strong commitment to IEEE’s mission. Working in Percent: 100%; Type: Solutions LLC, 330 Brook, 07058; Contact: Suite 101, Pine Brook, Gail Drive, East Hanover, collaboration with the board of directors, Stephen will help ensure that IEEE Petroleum bulk stations Changebridge Road Suite United States Corporation 07058; Contact: United Agents Inc. States Corporation Agents 07936; Contact: Alfred is universally recognized as the voice of the global technical community and terminals 101, Pine Brook, 07058; Contact: United States Inc. Corbo and an essential contributor to the development and implementation of Integro Health Systems Teksource Solutions Corporation Agents Inc. emerging and disruptive technologies.” Prior to IEEE, Welby was the U.S. Inc., Seller/Target: LLC, 330 Changebridge Cadien Realty LLC, 330 Gray Hound Boys LLC, 141 Abinger Place, assistant secretary of defense for research and engineering. He was also Liberated Energy Inc.; M Gallopavo LLC, 19 Al- Road Suite 101, Pine Changebridge Road Suite Newark, 07106; Contact: chief technology officer for the U.S. Department of Defense. Date: Aug-30-2017; Price: dom Circle, West Caldwell, Brook, 07058; Contact: 101, Pine Brook, 07058; NA; Percent: 100%; Type: 07006; Contact: Douglas United States Corporation Contact: United States Aaron Kemp Nursing care facilities John Flint Agents Inc. Corporation Agents Inc. Continued on page 33

32 MonthAndDay, 2017 NJBIZ www.njbiz.com DEALS ROUNDUP

Foundry Music LLC, 330 HG Property Manage- ADP Management Ser- 222 Kettle Creek LLC, 41 Telsuprema Transp LLC, Changebridge Road Suite ment LLC, 1163 50th vices LLC, 325 Columbia King George Road, Basking 302 Jersey St., Harrison, 101, Pine Brook, 07058; St., North Bergen, 07047; Turnpike, Florham Park, Ridge, 07920; Contact: Art 07029; Contact: Jose M. Transactions Contact: United States Contact: Herbert Gonzalez 07932; Contact: Paul Matuschat Gonzaga Rodriguez South Corporation Agents Inc. Monacelli Apple Commercial GX Construction LLC, 52 Marion Engel Hibernia ■ Real estate brokerage firm Holliday Ironbound Coffee Cleaning LLC, 330 D&G Cargo Services LLC, Tonnele Ave., Jersey City, LLC, 34 Franklin Corner Fenoglio Fowler announced recently it Roasters LLC, 330 Changebridge Road Suite 232 Kipp Ave., Hasbrouck 07306; Contact: Milad G. Road, Lawrenceville, has brokered the sale of a 26-building, 1.2 Changebridge Road Suite 101, Pine Brook, 07058; Heights, 07604; Contact: Bakhet 08648; Contact: Gary R. million-square-foot office flex portfolio 101, Pine Brook, 07058; Contact: United States D&G Cargo Services LLC Backinoff Hammaracing LLC, 51 in Moorestown and Burlington townships. Contact: United States Corporation Agents Inc. Maternal Insights LLC, Cornell St., Avenel, 07001; Mi Colombia Linda LLC, HFF’s senior managing directors Jose Corporation Agents Inc. 201 Dudley Ave. LLC, 32 33 Bleeker St., Millburn, Contact: Anthony Vene 117 Somerset St., North Cruz and Doug Rodio, and managing BHJ I LLC, 38 Shara Lane, E. Black Horse Pike, Pleas- 07041; Contact: Mitchell Plainfield, 07060; Contact: Sky View Trucking LLC, directors Brett Segal and Kevin O’Hearn, Pennington, 08534; antville, 08232; Contact: Beinhaker Patricia Y. Urgiles 162 N. 17th St., East represented the seller, Mack-Cali, in the Contact: Jon Kulpinski Emily K. Vu Vepo Day Spa LLC, 525 Orange, 07017; Contact: Xander Properties transaction. Brennan Investment Group 208 63rd St. LLC, 208 Edge Fitness and Per- Route 73 N. Suite 104, Shantette M. Brown LLC, 358 Roosevelt St., purchased the portfolio free of any mort- 63rd St., West New York, sonal Training LLC, 330 Marlton, 08053; Contact: Fairview, 07022; Contact: 552 Route 3 Realty LLC, gage financing. “The portfolio comprises 07093; Contact: Jonathan Changebridge Road Suite New Jersey Registered Suzanne Fitzpatrick 1771 Front St., Scotch 24 buildings in Moorestown and two D. Boyarsky 101, Pine Brook, 07058; Agent LLC Plains, 07076; Contact: Gigi Enterprises LLC, 5 buildings in Burlington Township that are Contact: United States Healthy Home Sciences Insure Your Home LLC, Theodore E. Schiller Lawrence St. Unit 734, 91 percent leased overall,” HFF said in a LLC, 94 W. Passaic Ave., Corporation Agents Inc. 225 Gordons Corner Road, Bloomfield, 07003; Con- 3 Brothers Mini Market news release. “Tenants include businesses Rutherford, 07070; Con- 2 Montrose Realty Manalapan, 07726; Con- tact: Gwendolyn Gaydos LLC, 602 Benson St., in health care services, pharmaceutical/ tact: John H. Chiaviello LLC, 102 Rosedale Ave., tact: Michael S. Levenson Camden, 08103; Contact: Over The Road Trucking clinical packaging and medical supplies. Elmwood Park, 07407; AK Pharma Consulting The House of Poke LLC, Jose De Jesus Jr. LLC, 55 Passaic Ave., The properties are situated within two of the area’s top business parks near LLC, 1 Ursula Court, Mend- Contact: Jose Gutierrez 22 Stone Ridge Road, Old Nutley, 07110; Contact: Dominick-Donna-Daria the Pennsylvania/New Jersey border. This location has easy access to the ar- ham, 07945; Contact: JT Property Management Bridge, 08857; Contact: Slavoljub Preradovic LLC, 2149 Conley Drive, ea’s primary thoroughfares, including Interstates 295, 195, 95 and 276 and Alexander Kraus LLC, 212 Delaware Ave., Dina Finkelstein Vineland, 08361; Contact: Natures Hum LLC, Five Routes 130, 206, 70 and 38. “Additionally, the portfolio is located within Egg Harbor Township, Qik Checkin LLC, 3006 BMG Design and Remod- Dominick Baruffi II Greentree Centre Suite 20 miles of the Philadelphia International Airport and within 10 miles of the Plaza Drive, Woodbridge, 08234; Contact: David E. el LLC, 1501 Louise Court, 104, Marlton, 08053; JP General Contracting Philadelphia Regional Port.” Cruz said the portfolio had a significant amount 07095; Contact: Swathi James Wall, 07719; Contact: Contact: Registered Services LLC, 430 E. of interest for its size and potential. Financial terms for the transaction Sheshabattar Mile Square Develop- Michael Senna Agents Inc. Gibbsboro Road, Linden- were not disclosed. ers LLC, 27 High Ridge Coast Regional 804 Jersey Ave. LLC, wold, 08021; Contact: 583 Ewing Street LLC, Road, Randolph, 07869; Expedited LLC, 360 W. 1800 Main St., Lake Como, Christopher Dejesus 1326 Windrow Drive, Contact: Susanne Pari- Pleasantview Ave. Apt. 07719; Contact: Constan- Princeton, 08540; Contact: Effective Transportation H.W. Jones Holistic Naimarkdisputeres- si-Donalds BDG Hotels at Lyndhurst 800 H, Hackensack, tine Bardis James A. Phox Jr. LLC, 20 Commerce Drive Health LLC, Law Offices of olution LLC, 820 Bear LLC, 319 Grove St., Wood- 07601; Contact: Marlon C. Super Fitness 2.0 LLC, Suite 135, Cranford, John H. Rittley LLC, Flem- Tavern Road, West Trenton, DJK Aquatics LLC, 330 bridge, 07095; Contact: Sydney Engel Hibernia Scotland 630 W. Cuthbert Blvd., 07016; Contact: Richard ington, 08822; Contact: Changebridge Road Suite Richard Bhojani LLC, 34 Franklin Corner 08628; Contact: Vcorp Talis Vodka LLC, 526 Westmont, 08108; Con- 101, Pine Brook, 07058; Road, Lawrenceville, Zanetich John H. Rittley Services LLC Win Global LLC, 71 Canal Manila Ave., Jersey City, tact: Charles Aymes Contact: United States 08648; Contact: Gary R. View Drive, Lawrenceville, AMM Global LLC, 52 W. Ryan Industries LLC, 205 NR Accounting LLC, 54 07302; Contact: Ezequiel 8133 Bergenline LLC, 42 Corporation Agents Inc. Backinoff 08648; Contact: Vivek Lincoln Ave., Rockaway, Washington St., Jersey Hillside Ave., Sayreville, Ortiz Snyder Road, Englewood Elysian Labs LLC, 36 Diaz Yadlapalli Jaly LJJ LLC, 113 Linden 07866; Contact: Zahid City, 07302; Contact: Paul 08872; Contact: Nashwa Omni Star Auto LLC, 375 Cliffs, 07631; Contact: St., Iselin, 08830; Contact: St., Passaic, 07055; Malik Ryan Robil Hymonik Marketing LLC, Chestnut St., Newark, Lisette George Badawy Badawy Contact: Luis F. Nunez 89 Sussex St., Hackensack, 347 Somerset Street Moda-Ideal LLC, 766 Medigest Healthcare Ser- 07105; Contact: Michael Senditmtb.com LLC, 330 Living Smiles Dentistry 07601; Contact: Hyacinth Rhino Research LLC, 245 LLC, 203 Union Hill Road, Bennetts Mills Road, vices LLC, 1030 St. Georg- Giangregorio Changebridge Road Suite LLC, 2 W. Northfield Road G. Barton Atlantic Ave., Long Branch, Manalapan, 07726; Con- Jackson, 08527; Contact: es Ave., Avenel, 07001; Mr-Jak LLC, 316 E. Broad 101, Pine Brook, 07058; #203, Livingston, 07039; 07740; Contact: Anthony tact: Paul Dorsi Lisa A. Ross Contact: Jozsef Duhl Consulting RM LLC, 89 St., Westfield, 07090; Contact: United States Contact: Injung Hwang Calascione River St., Hoboken, 07030; Spectra Consulting LLC, Ello Home LLC, 714 362 Maple LLC, 362 N. Contact: Francis D. Corporation Agents Inc. 214 Washington Pl LLC, Contact: Tatiana K. Klesheva Philopatyr LLC, 630 S. 63 W. Fort Lee Road Unit Cleveland Ave. 2nd Floor, Maple Ave., East Orange, Mcintyre 661 Avenue E LLC, 6 33 Eager Place, Tenafly, Brewster Road, Vineland, B, Bogota, 07603; Contact: Linden, 07036; Contact: 07017; Contact: Richard Woodcrest Road, Florham Springdale Holdings Gotham Speaker Works 07670; Contact: Nadav 08361; Contact: Mark E. Jung Min Yim Elisha Napoleon Ramlall 2 LLC, 630 Grove St., LLC, 642 Broad St., Park, 07932; Contact: Krauze Ronchetti Brian Gabelman Dunellen, 08812; Contact: Outlook Property Man- Visions Consulting Legacy Heating & Air LLC, Clifton, 07013; Contact: LG Rennovations LLC, Workingconstruction Springdale Holdings 2 LLC agement LLC, 10 Michael Services LLC, 1505 Dahlia 23 Marlin Ave., Pequan- Spiegel & Utrera P.A. A Simple Leap Support LLC, 267 Howland, En- 1990 Morris Ave., Union, St., Piscataway, 08854; Circle, Dayton, 08810; nock, 07440; Contact: Services LLC, 435 State 07083; Contact: Mark Springdale Holdings glewood, 07631; Contact: Desi Home Flavors Contact: Arlene Harris Contact: Jeanette Lawrence Charles Veal 1 LLC, 630 Grove St., LLC, Five Greentree St., Cherry Hill, 08002; Levajac Harold Canon Contact: Jacqueline Taylor Dunellen, 08812; Contact: Elwell Group LLC, 2 Fox Einstein Clinical LLC, 7 Uludag Properties LLC, Centre Suite 104, Marlton, 1 Essex Flips LLC, 3741 WM Trade LLC, 37 E. Mid- Springdale Holdings 1 LLC Chase Drive, Blackwood, Jacob Way, Phillipsburg, 910 Bergen Ave., Jersey 08053; Contact: Regis- Montrose Investment Lawrenceville Road, land Ave., Kearny, 07032; 08012; Contact: Diane M. 08865; Contact: Marilyn City, 07306; Contact: Ihab tered Agents Inc. Group LLC, 77 Montrose Princeton, 08540; Contact: RPC Trucking LLC, 1755 Contact: Bryan M. Lopes Cheeseman St., Newark, 07106; Springfield Ave. Unit Moran Ibrahim Passaic Valley Martial Chadwick Smith Naidoo Group LLC, 75 Contact: Edith Wheeler C, Maplewood, 07040; Love Your Home LLC, 1301 - 1303 Palisade Masso Enterprises Enter- Arts LLC, 1614 Union Sally’s Hair Braiding LLC, Fox Run Drive, Englewood, Contact: Pablo Montes 4 Lawrencia Drive, Law- Ave. LLC, 11 Brandyn tainment LLC, 214 Main Valley Road, West Milford, Smart Savings Group 225 Central Ave., East 07631; Contact: Trevor renceville, 08648; Contact: 07480; Contact: Charles LLC, 385 Chestnut St. Orange, 07018; Contact: Sonja’s Doggie Daycare Naidoo Lane, Parsippany, 07054; St., Cliffside Park, 07010; Digirolamo Suite 2, Union, 07083; LLC, 7 Beasley St., West Colleen Aker Contact: Nikesh Shah Contact: Leonardo F. Masso Salimata Sanogo Elaine Professional Clean- Contact: Robert Genovese Orange, 07052; Contact: Jun Produce LLC, 60D I & A Construction LLC, ing Services LLC, 7 Luxoro 5 Laurel Place LLC, 203 Yim Consulting LLC, Taylors Construction Schuyler Marder Lakeview Drive, Leonia, NP Auto Repair LLC, 107 120 Montgomery S.t, Pis- Place Apt. 1, Fairview, Union Hill Road, Manala- 56 Mountainview Road, LLC, 437 Dogwood Drive, 07605; Contact: Kyungjun Broadway, Passaic, 07055; cataway, 08854; Contact: Ph53 LLC, 28 Hampshire 07022; Contact: Maria pan, 07726; Contact: Paul Demarest, 07627; Contact: Woodbury, 08096; Contact: Park Contact: NP Services LLC Ivan Mostacero Drive, Plainsboro, 08536; Elaine Vieira Da Costa Dorsi Jaisohn Im Gerald J. Andrews Jr. Contact: Victor Dejesus Geekend Legion LLC, 544 Leading Home Renova- Vegas Trucking LLC, 427 Empowerment Ventures Yellow Brick Trucking Market Deli and Grocery Jolen Remodeling LLC, Mansfield Village, Hack- tions LLC, 42 Osceola 62nd St. Apt. 2, West New KB Visualz LLC, 104 Or- LLC, 5 Gilbert Drive, Glen- LLC, 61 Union Blvd., Wal- LLC, 380 Fayette St., Perth 415 Lawnridge Road, ettstown, 07840; Contact: Road, Wayne, 07470; York, 07093; Contact: Luis chard St., Garfield, 07026; wood, 07418; Contact: lington, 07057; Contact: Amboy , 08861; Contact: Orange, 07050; Contact: Matthew S. Mitchell Contact: Anna Stepnowski M. Vega Contact: Karen Blake Cherie Omalley Akash Patel Kelvin Abreu Joseph Jackson Metro NY Environmental Essex Co. Vintage LLC, 6 IH International Prop- Drive Smart Buy Smart Togs Holding LLC, 629 Nani Atma LLC, 89 N. Wolfpack Fitness LLC, 17 Link Life is not Kompli- LLC, 82 Notch Road, Hoffman St., Maplewood, erties LLC, 43 Skyview LLC, 77 Brook Ave. Apt. Parsippany Road, Parsip- Haddon Ave., Haddonfield, Urban Club Road, Wayne, cated LLC, 509 Harristown Clifton, 07013; Contact: 07040; Contact: Jessica Road, Union, 07083; D10, Passaic, 07055; pany, 07054; Contact: 08033; Contact: Peter 07470; Contact: James Road, Glen Rock, 07542; Stephen Rozewski Karr Contact: Isabel Henriques Contact: Patrick Sajewicz Mark Tabakin Rhodes L. Wolf Contact: Karen Cardamone

MORE INFORMATION Mergers & Acquisitions data were supplied by FactSet Mergerstat and Thomson Reuters. was supplied by the state Treasury’s Division of Revenue. Bankruptcies are obtained from federal courthouse records available on Public Access to Court Electronic Records, Real Estate Transactions are provided by brokers and their representatives. Listings should include the names of the buyer or PACER. Listings are organized by the office in which they were filed. and seller or lessee and lessor; the square footage or acreage; the address of the property; and the brokers representing Insider Trading reports on the stock transactions reported to the Securities and Exchange Commission by officers, directors each party. For sales transactions, please include the price. Send all transaction information to [email protected] with “real and major shareholders. These data were compiled by Thomson Financial and are listed in order of transaction value. estate” in the subject line. New Businesses include businesses that have moved to New Jersey or opened a new office in the state. The information *(I) – Industrial; (O) – Office; (M) – Multifamily; (R) – Retail

www.njbiz.com NJBIZ MonthAndDay, 2017 33 OFF THE CLOCK

The winners of the New Jersey Immigrant Entrepreneurs Awards were announced at the Global Opportuni- ties Summit last week by NJIEA. From left are Rashaad Bajwa, Domain Com- puter Services Inc., Country of Origin: Pakistan (Winner of the Avid Sarnoff Award for Advocacy); K. Peter Yu, Yu & Associates Inc., Country of Origin: Hong Kong, SAR (China) (Winner of the Immi- grant Entrepreneur of the Year); Mihai Banu, Blue Danube Systems, Country of Origin: Romania (Winner of the Albert Einstein Award for Innovation); Carlos Momo, Terra Momo Restaurant Group, More than 200 Kennedy Health physicians, nurses, executives Country of Origin: Brazil (Winner of the and area EMS personnel attended Kennedy Health’s Interpro- Caspar Wistar Award for Growth). fessional Opioid Crisis Symposium featuring U.S. Congressman Photo credit: Diana P. Lang photog- Donald Norcross and area ‘Cheesesteak King’ Tony Luke at raphy. Lucien’s Manor in Berlin.

HOW TO SUBMIT NJBIZ welcomes your Off the Clock and Guest List items. Pictures, and captions that identify everyone in the photo from left to right, may be emailed to [email protected] with “Off the Clock” Chiesa Shahinian & Giantomasi P.C. employees recently raised or “Guest List” in the $600 to assist with Hurricane Harvey recovery efforts through subject line. Please All Hands Volunteers, a U.S.-based, 501(c)3 non-profit organi- send electronic files zation that addresses the immediate and long-term needs of at 300 DPI communities impacted by natural disasters. Pictured are CSG This volunteer crew of Columbia Bank employees recently teamed up with the Boys & Girls Club of Paterson/Passaic to help out at an original size of employees wearing jeans in support of the response program. with their summer programs. Photo Courtesy of Columbia Bank. 6 inches wide.

STATEMENT OF OWNERSHIP, Are you MANAGEMENT, AND CIRCULATION (Requestor Publications Only) working with 1. Publications Title: NJBIZ 2. Publication Number: 3345 3. Filing Date: 9/22/17 4. Issue Fre- quency: Weekly 5. Number of Issues Published Annually: 52 6. Annual Subscription Price: $64.95 7. Complete Mailing Address of Known Office of Publication: Journal Multimedia, the responsive 1500 Paxton Street, Harrisburg, PA 17104-2633, Dauphin, Contact Person: Zander Gambill, Telephone: 717-236- 4300 8. Complete Mailing Address of Headquarters or General Business CPAs? Office of Publisher: 1500 Paxton Street, Harrisburg, PA 17104-2633 9. Full Names and Com- plete Mailing Addresses of Publisher, Editor and Managing Editor: Publisher: Hal Cohen, 220 Davidson Ave. Ste. 302, Somerset, NJ 08873; Editor: Tom Bergeron, 220 Davidson Ave. Ste. 302, Somerset, NJ 08873 10. Owner: New Media Group, Inc: Complete Mailing Address:135 Av- enue of the Americas, 46 th FL, New York, NY 10105 11. Known Bondholders, Mortgagees, and Other Security Holders Owning or Holding 1 Percent or More of Total Amount of Bonds, You run a small business. You need advisors who provide expert Mortgages, or Other Securities: Citizens Bank NA, 28 State Street, MS 1500, Boston, MA 02129 12. The purpose, function, and nonprofit status of this organization and the exempt status guidance to keep your company growing and ready for the challenges for federal income tax purposes: Has Not Changed During Preceding 12 Months 13. Publi- that lie ahead. cation: NJBIZ 14. Issue Date for Circulation Data: September 18, 2017 15. Extent and Nature Talk to KRS. As the responsive, proactive CPAs more small business of Circulation: Average No. Copies Each Issue During Preceding 12 Months/No. Copies of Single Issue Published Nearest to Filing Date 15.a. Total Number of Copies (Net press run): owners trust, we’ve got your back. 15,132/15,086 15.b.1. Outside County Paid/Requested Mail Subscriptions stated on PS Form Call Maria Rollins, CPA, MST and Managing Partner, 3541: 9,810/8,922 15.b.2. In- County Paid/Requested Mail Subscriptions stated on PS Form 3541: 0/0 15.b.3. Sales Through Dealers and Carriers, Street Vendors, Counter Sales and Oth- at 201.655.7411 or visit krscpas.com. er Paid or Requested Distribution Outside USPS: 0/0 15.b.4. Requested Copies Distributed by Other Mail Classes Through the USPS: 1/0 15.c. Total Paid and/or Requested Circulation: 9,811/8,922 15.d.1. Outside County Nonrequested Copies Stated on PS Form 3541: 5,097/5,989 15.d.2. In-County Nonrequested Copies Stated on PS Form 3541: 0/0 15.d.3. Nonrequested Copies Distributed by Other Classes of Mail: 0/0 15.d.4. Nonrequested Copies Distributed outside Mail: 190/140 15.e. Total Nonrequested Distribution: 5,287/6,129 15.f. Total Distribution: 15,098/15,051 15.g. Copies not Distributed: 35/35 15.h. Total: 15,133/15,086 15.i. Percent Paid 80 Route 4 East, Ste. 370 | Paramus, NJ | 201.655.7411 | www.krscpas.com and/or Requested Circulation: 64.98%/59.28% 16. Electronic Copy Circulation 16.a. Paid Elec- tronic Copies 479/482 16.b. Total Print Copies + Paid Electronic Copies 10,290/9,404 16.c. Total Controller & CFO Services · Tax Strategies, Planning and Preparation Print Distribution + Paid Electronic Copies 15,577/15,533 16.d. Percentage Paid 66.1%/60.5% Accounting & Assurance · Budgeting & Forecasting · Estate & Gift Valuation 17. Publication of Statement of Ownership for a Requester Publication is required and will be Bookkeeping & Cash Flow Analysis · Governance & Succession Planning · Sales Tax Issues printed in the 10/23/17 issue of this publication 18. Signature and Title of Editor, Publisher, Business Valuation & Litigation Support · Shareholder & Buy/Sell Agreements Business Manager, or Owner: Hal Cohen (signed), Group Publisher; Date: 9/22/17

34 MonthAndDay, 2017 NJBIZ www.njbiz.com GUEST LIST

Seventh Annual Jim Fifis Lung Cancer Research Fund Benefit Dinner Raises $110,000 for MD Anderson Cancer Center at Cooper

More than 300 people gathered at Ponzio’s Diner-Bakery-Bar in Cherry Hill for the Seventh Annual Jim Fifis Lung Cancer Research Fund Dinner, which raised $110,000 for the lung cancer program at MD Anderson Cancer Center at Cooper.

Adrienne Kirby, Ph.D., President and CEO, Cooper University Donna Forman, 2nd Vice Chair, The Cooper Foundation Board of Health Care and Christine Winn, Senior Vice President, MD Trustees, and Lori Rovins Anderson Cancer Center at Cooper

Anthony Mazzarelli, MD, Senior Executive Vice President, Cooper University Health Care, and Generosa Grana, MD, Director, MD Anderson Cancer Center at Cooper

Former Philadelphia Flyer Chris Therien and Chris Fifis; John Fifis; Susan Bass Levin, President and CEO, The Cooper Foundation; Philip Norcross, Chairman, The Cooper Foundation Nick Fifis Board of Trustees; Violetta Fifis; George E. Norcross, III, Chairman, Cooper University Health Care; Nick Fifis, and John Giambanis

An EXCEPTIONAL venue for your final meeting of the year, or your Holiday Celebration…..we can make YOU SHINE.

At somerset park

333 Davidson Avenue, Somerset, New Jersey 732-271-6330 | [email protected] | palacesomersetpark.com

www.njbiz.com NJBIZ MonthAndDay, 2017 35 Setting the Table for Growth October 24, 2017 The Palace at Somerset Park, Somerset, NJ FoodBizNJ will feature tastings from New Jersey food and beverage entrepreneurs as well as information sessions including speakers and panel discussions relevant to food and beverage producers, restaurants and food retailers. Topics include: » State of the Food Industry in NJ: Michele Brown, » The Ins & Outs of Financing Growth in the President & Chief Executive Officer, Choose New Food Industry Jersey, Inc. » Breakout Sessions: Beer, Wine & Spirits – » Adenah Bayoh, Founder & CEO of Adenah Bayoh Legislative update & Your Brand: Packaging, & Companies, parent corporation of IHOP franchises Protecting & Marketing in Newark, Paterson, & Irvington, New Jersey » Family & Food: How family-run businesses can » Workforce Development thrive

FoodBizNJ attendees can enter for a chance to win $100 GIFT CARD to Blu Ale House, with locations in River Dale & Woodbridge, NJ. *Drawing will be held at FoodBiz, must be present to win. Register today at www.njbiz.com/events Sponsorship and Marketplace Exhibitor Information: Contact Damon Riccio at 732-246-5715.