For Food Deserts Page 2

Put on a happy face Craig Dubitsky saw too much ugly imagery on toothpaste labels, so he founded Hello Products in Montclair to make brushing more pleasant. Page 10 ® njbiz.com FEBRUARY 18, 2019 $2.00

A proposal to award free liquor licenses to supermarkets that open in underserved areas could be a boon for residents and the grocers. But FIREWATER small retailers contend that the scheme would only send revenue and tax dollars out of the state. FOR FOOD DESERTS PAGE 2

For address or name corrections, fax label to (732) 846-0421 Spotlight: Construction and Development Industrial developers move south, residential projects cross economic lines and retailers learn to deal with the internet. Page 14 Energizing New Jersey HOW TO REACH US

Vol. 32 | No. 7 MAILING ADDRESS NJBIZ, 220 DAVIDSON AVE., SUITE 302 SOMERSET, NJ 08873 PHONE (732) 246-7677 BREAD, BUTTER AND BOURBON FAX (732) 846-0421 REPRINTS For licensing, reprints, e-prints The prospect of free liquor licenses could lure grocers and plaques, email Lisa Arnold at [email protected] or call her direct line at 717-323-5213. Authorization to photocopy into food deserts, but small retailers are worried articles for internal corporate or instructional use may be obtained from the Copyright. For photos, BY GABRIELLE SAULSBERY please see njbiz.com/photos @GSAULSBERY PUBLISHER Ken Kiczales [email protected] New Jersey is one of five states that doesn’t al- GENERAL MANAGER low alcohol sales in all grocery stores. While AnnMarie Karczmit [email protected] some states have introduced measures that ADVERTISING would revamp their own liquor laws to allow SENIOR ACCOUNT EXECUTIVES such sales, New Jersey has thus far kept the Penelope Spencer [email protected] same laws it’s had since 1962: individuals and Kirsten Rasky [email protected] corporations are limited to two retail distribu- ACCOUNT EXECUTIVES tion licenses. lington, Va. by economic research firm John with their own national policies. Susan Alexander [email protected] Heather Long, [email protected] A recently proposed law would create a Dunham and Associates, the move would have “Before Wegmans came to New Jersey, this clever exception by providing a free liquor li- created 275 jobs and allowed New Jersey to col- was never an issue. Once you get to a certain EDITORIAL cense to the first grocery store or supermarket lect $6.7 million in additional sales and excise number [of square feet], then Walmart comes EDITOR Jeffrey Kanige [email protected] opened in a designated food desert. Support- taxes and $3.6 million in business and employ- in and says ‘You’re discriminating against us,’” MANAGING EDITOR ers say the move would create an incentive for ment taxes. Santelle said. “It would be unconstitutional for Linda Lindner [email protected] grocers to set up shop in less desirable places. The report also said that an in-depth ex- our legislature to discriminate based on size of WEB EDITOR/SOCIAL MEDIA COORDINATOR Opponents argue that the measure would only amination of retail licenses around grocery store alone.” Jessica Perry [email protected] benefit out-of-state corporations. stores in Princeton, Paramus, and Ridgewood Small, independent alcohol retailers with- STAFF WRITERS This isn’t the first attempt at revamping found the number of liquor stores was at or in two to three miles of a big box store that sells Anthony Vecchione [email protected] state liquor laws in relation to grocery stores. A above that expected by the 2000 Census esti- alcohol are severely affected, he said. Senior Reporter/Health Care bill to lift the two-license limit was introduced mates. “The traditional grocery business has Gabrielle Saulsbery [email protected] in 2011, but died. The new legislation, A4700, been impacted by the big box one stop shop- Law/Food & Hospitality/Small Business passed the Assembly in December and is now ‘Totally unsubstantiated’ ping [point-of-view] and our ‘regulated’ alco- David Hutter [email protected] awaiting action in the Senate Health, Human That finding, according to liquor store hol industry poses a major hurdle for regional Education/Transportation/Manufacturing Services and Senior Citizens Committee. owner and president of the New Jersey Liquor predatorial retailers looking for more market Daniel J. Munoz [email protected] Store Alliance Paul Santelle, is nothing but share at any cost,” he said. “The two-license Government/Economic Development Urban-suburban divide “fake news.” limit prevents chains from over running mar- RESEARCHER “The license helps supermarkets increase “[It’s] totally unsubstantiated by [an] ketplace and diluting public safety and quality Bethany Wiegand [email protected] profits in a very low-profit industry which helps economist,” he said. “Even Gov. Christie saw of life initiatives with too much access and too EVENTS EVENTS COORDINATOR keep doors open,” said Liza Acevedo, spokes- through that misrepresentation referring to it many jurisdictional hurdles for maintaining Anna Acquaviva [email protected] person for sponsor and Assembly Speaker as a ‘zero sum gain.’ New grocery stores typi- necessary handle on the distribution and sale CIRCULATION Craig Coughlin. “Urban supermarkets face cally transfer jobs from existing grocery stores of alcohol.” For subscriptions call 1-877-615-9536. other costs that suburban supermarkets don’t and export state-based corporate profits and Sabath, though, cited 2011 legislation in The entire contents of this paper are copyrighted by Journal have to worry about as much,” she added. spending out-of-state.” Massachusetts that increased the Bay State’s Multimedia, LLC 2018, a division of Bridgetower Media, with all right reserved. Reproduction or use, without permission of “This new bill is way more limited to where A report done by the Grand Institute two-license cap for grocers to the current five- editorial or graphic content in any manner is prohibited. NJ Biz the licenses can pop up,” said Eric Orlando, ex- of Mount Laurel in 2012 suggested that for to-seven license limit. In 2020, grocers will be (USPS #3345) is published weekly by Journal Multimedia, a division of Bridgetower Media, 1500 Paxton St, Harrisburg, PA ecutive director of the Brewer’s Guild of New every $1 million in gross liquor sales lost to allowed up to nine licenses. 17104. The office of the publisher is 220 Davidson Ave, Ste Jersey. “You literally have to build a full-scale big box stores by small independent liquor A state-conducted study on the effect of 302, Somerset NJ, 08873. grocery store and then you can get your license. stores, the state realizes $75,000 dollars less the law showed that it promoted economic To place orders, temporarily stop service, or to change your address, or to order back issues, or to inquire about billing or You’re putting a full-scale store in a place that in income subject to taxation. Since many growth and protected smaller retailers, Sabath need technical support with login issues on our website: up until that point hasn’t been able to sustain big box stores are owned by out-of-state cor- said, while Massachusetts saw $16.9 million in Phone: 877-615-9536 a grocery store, which is why it’s a food desert.” porations, more money will flow out of state increased economic activity and 150 new jobs. Email: [email protected] A.J. Sabath, executive director of the Re- than it does from the largely independent li- Jack Strauss, chair of applied econom- Mail: NJBIZ tailers for Responsible Liquor Licensing Coali- quor store industry. ics at University of Denver’s Daniels Business Subscription Services PO Box 1051 tion, said the inability of grocers to sell alcohol “The problem with [the current bill] is that School, studied the economic impact of allow- Williamsport, PA 17703-9940 has hurt the industry and caused some stores it’s clearly picking winners and losers,” San- ing alcohol in retail stores in Colorado, which If your newspaper is damaged, missing or late: Call 877- to close up shop. telle said. “You’re getting into a position where at the time also restricted alcohol sales by most 615-9536 or email [email protected]. If your “Some supermarket owners have opted you’re offering different revenue streams. grocers. According to Strauss, the economic issue frequently arrives late, contact your letter carrier or your local postmaster. not to open locations in New Jersey because There could be a cause and effect where you impact of grocery alcohol sales on liquor stores POSTMASTER: Electronic ACS service requested. Send of this nonsensical law that directly threatens plug one hole in a food desert today and to- “will be limited and overwhelmed by the posi- address changes to NJ Biz, Subscription Services, PO Box 1051 their success,” Sabath wrote in a recent op-ed. morrow you create one that wasn’t there before tive impact on grocery store sales.” Williamsport, PA 17703-9940. Periodical postage paid at Harrisburg, PA 17107 with additional entry offices in Phila- “Many supermarkets, such as the former A&P because someone has an unfair advantage.” Instead, “statistical evidence shows that delphia, PA 19104 and Easton MD 21601. Subscription rate in Fanwood, have since shuttered and turned The bill would limit the free liquor license alcohol restrictions do not substantially affect is $79 for 1 year. to rubble when ownership was switched and incentive to the first supermarket opened in a liquor sales.” Strauss cites multiple zip codes in grandfathered liquor licenses vanished.” food desert that’s at least 18,000 square feet and Colorado with both liquor stores and grocers The 2011 bill in New Jersey would have at least 90 percent occupied by a full-service that sell alcohol and finds that not only are the phased in an increase of the liquor license cap grocery store. liquor stores in those areas not shutting down, from two to 10 licenses over a 10-year period Still, according to Santelle, the bill is a but the failure rate of those stores is below the for certain entities. According to a study pre- thinly veiled way for out-of-state big box stores state average. pared for the Food Marketing Institute in Ar- to come into New Jersey and align local policy Email: [email protected]

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DS-14364 GRFW Ad_NJBIZ_FullPage.indd 1 1/28/19 10:28 AM Avoiding the hazards of financial stress Some corporate wellness programs provide employees with money management training and tools

BY ANTHONY VECCHIONE ployees money management training and younger the worker, the more likely he hours every week at work dealing with fi- @VECCHIONE_NJ other tools. or she is to be worried: 64 percent of nancial problems. millennials said they are stressed about Gargantuan college loans. Insufficient Surveys highlight the problem their finances. Building financial literacy retirement nest eggs. Mounting out-of- A recent employee benefits survey con- The survey indicated that 46 percent Newark-based Horizon Blue Cross pocket medical bills. These financial ducted by The Society for Human Resource of workers spend three or more hours dur- Blue Shield of New Jersey has taken an ac- stressors could cause high blood pres- Management (SHRM) revealed 61 percent ing the workweek dealing with or thinking tive role in helping its workforce improve fi- sure, migraines and other more serious of HR professionals polled described their about financial issues. nancial literacy, manage personal finances health conditions. employees’ financial health as no better Moreover, a paper on the hidden cost and plan for the future. Employers should understand than “fair” and 17 percent reported their of financial stress by Integrity Data.com/ “Through partners like Fidelity, that whether an employee is a millen- employees were “not at all financially liter- bestmoneymove showed that stress causes MetLife, and CAPTRUST, we offer our em- nial struggling to repay student loans ate.” Survey data showed that organizations myriad health problems including elevated ployees financial wellness workshops that or someone close to retirement anx- with more hourly workers were less likely cholesterol, migraines and hypertension. cover financial and retirement planning, ious over an inadequate 401k, financial to rate their employees’ financial health as In addition, when employees are managing personal debt, understanding tax stress could not only ruin an individual’s “good” and less likely to rate their employ- focused on paying bills, they often pay deductions and credits, and savings strate- health, it could also reduce productiv- ees as “very financially literate.” less attention to their jobs and as finan- gies,” said Cynthia Tobia, director, Compen- ity and hit the bottom line. How should A PricewaterhouseCoopers employ- cial stress piles up, it could affect job sation and Benefits for Horizon BCBSNJ. companies respond? ee financial wellness survey showed that performance. ”The workshops offered are in-person, Feb.2019.pdf 1 2/7/2019 11:03:02 AM More and more employers are offering 52 percent of workers overall are stressed The study estimated that employees on-line through webinars and one-on-one financial wellness programs that give em- about their finances. In addition, the concerned with their finances spend two sessions conducted by our partners. After

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4 February 18, 2019 NJBIZ www.njbiz.com participating in a group session or webinar, forefront is because millennials are now well programs in place for their employees. employees can request to meet with a finan- represented in the workforce and they labor “It is no longer good enough to just offer When employees are cial advisor for personalized assistance. We under mountains of student debt. a walking program or a biometrics screen- also provide workplace incentives to help “They are forcing their employers to ad- ing event every year, Clark explained. “It re- focused on paying bills, encourage our employees to participate in dress their financial issues and that in turn ally needs to be a holistic approach and one they often pay less these programs,” Tobia said. has created an influx of new vendors that are that takes into consideration that people are For employees facing financial difficul- emerging with solutions to address the prob- struggling in different areas of their life, so if attention to their jobs. ties, Iselin-based United Healthcare of New lem in unique ways,” said Clark. you can offer a program that taps into all areas Jersey offers several options including a stock While it is encouraging to see more com- – that’s when you are really going to see high purchase plan to assist employees in buying panies offer financial wellness programs, success rates for wellness in general not just company stocks at a dis- Clark said that it needs to be done in the right financial wellness.” counted rate. Chief execu- setting, for the right reasons, with the right Email: [email protected] tive Paul Marden said the company also offers workers participation in a credit union, which can help provide more affordable banking and loan options and Clark an employee discount pro- We Work Harder gram that provides a large range of discounts on commercial products and services. Michelle Clark, senior vice president of health and performance practice at Hub In- to Build Your Business ternational — a global insurance brokerage and employee benefits firm based in Chicago Construction Financing • Commercial Mortgages • Term Loans • Lines of Credit with four offices in New Jersey — told NJBIZ that there has been an uptick in companies embracing and adopting financial wellness programs in different facets. More and more employers, Clark said, Working capital line of credit to a wholesaler of meat, are reaching out to their retirement plan pro- viders and asking them to offer something to dairy, and frozen foods. their employees. The ultimate goal is to get employers to understand what their employees need. Clark recommends evaluating what the Working capital multi-year revolving credit to a wholesale problems that exist in each organization. distributor of consumer products. For example, taking steps to assess some of the metrics such as absenteeism rate, wage garnishment or 401k loans and withdraw- als, as well as aggregated information about Term loans, line of credit, and working capital to support medical or prescription drug claims for ill- a new surgery center facility. nesses tied to stress. Another step would be to evaluate the employee population. For instance, finding out who has stu- Mortgage for an owner-occupied catering operation. dent loan repayments, who might benefit from short-term loans, employee-purchasing programs, or creating and customizing financial wellness educational programs around Mortgage for multi-family apartments. topics such as budgeting, debt reduction and savings can be helpful said Clark. While health issues related to financial stress are not new, Clark said she sees a dif- Recently Closed Transactions ference now. Construction to permanent loan for a suburban ofﬁ ce building. “We are trying to relay to employers to pay attention to those associations between what Contact a member of our commercial lending team: they are seeing from a claims perspective in Joe Dempsey Paul Heilmann medical and prescriptions and what they are Executive Vice President / Sr. Vice President / Head of Commercial Banking Commercial Real Estate experiencing from employees in terms of dis- [email protected] [email protected] tracted accidents while on the job, substance Gordon Gorab abuse issues and taking more frequent breaks Sr. Vice President / Commercial Lending and even unusual hostility toward co-workers Middle Market Manager [email protected] and the employer.” Human resources professionals can often pick up on such issues either 19-01 Route 208 North • Fair Lawn, NJ 07410 from their own observations or reports from For more information please call (800) 522-4167 or visit us at ColumbiaBankOnline.com colleagues, Clark explained. Clark said that one of the reasons why employee financial stress is coming to the www.njbiz.com NJBIZ February 18, 2019 5 Smooth sailing A mobile app makes navigating maze-like hospital halls less stressful

BY ANTHONY VECCHIONE @VECCHIONE_NJ

Trying to find a patient room or a certain hospital department, particularly in facilities with many buildings, can be frustrat- ing. So some of the state’s top health systems have turned to GPS technology to help patients and family members navigate their way through large hospitals. Earlier this month Hackensack Merid- ian Health (HMH) went live with MediNav GPS from Connexient at its flagship Hack- ensack University Medical Center. MediNav will be integrated with Epic Systems Corp.’s MyChart software within nology at Jersey Shore Medical Center next technology was based on feedback from the HMH Well mobile app. That function- month and eventually at all of the hospitals patients and research that revealed that ality will also enable users to access lab re- in the HMH network. navigating through a hospital maze was sults, appointment dates, medications and Kunle Modupe, vice president of Hos- challenging. immunization history. pitality Services at Hackensack Merid- “All the comments and complaints MediNav home page --- CONNEXIENT The health system will roll out the tech- ian Health said the decision to adopt GPS from patients about the difficulties navigat-

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6 February 18, 2019 NJBIZ www.njbiz.com ing the building have vice president, marketing, communica- at Morristown Medical Center. Beyond digital navigation, Simon been reduced since we tions and public relations at Atlantic Health The functionality, noted Simon, has said that Atlantic Anywhere offers addi- implemented the GPS System, agrees that navigating a large med- been integrated into the new Atlantic tional functionality such as convenient technology,” Modupe ical center can be confusing and stressful. Anywhere app that is downloadable from search and appointment capabilities said. Simon said that to help patients the Apple App Store and Google. through find-a-provider service and ac- and their family members know exactly “Whether we are leveraging data to cess to Atlantic Health System’s MyChart ‘You can get lost where they’re going and travel to their improve patient outcomes, providing patient portal, so consumers can easily pretty quickly’ Modupe intended destination in a manner that is digital self-service tools for managing play a more active role in their health- both faster and more convenient, Atlantic their health, or helping visitors navigate care, communicating with physicians, The way Mark Green, CEO and co- Health System launched an indoor GPS the hallways of our large medical centers, refilling medications, viewing lab results founder of Connexient explains it, the app from Connexient at Overlook Medi- technology has become an important and much more. company has created a navigation tech- cal Center in Summit and subsequently component of the care team,” said Simon. Email: [email protected] nology similar to how you would use to Google directions from your car except this can be used inside a large complex or building like a hospital. “Think of it like indoor GPS for patients,” said Green. WE SAVE WATER Users download the app to their smartphone. When they enter the hospital building they get a blue dot on an OUR MEMBERS PREVENT SPILLS indoor map that gives them turn-by- turn, step-by-step directions to a room, AND BRING CLEAN WATER TO YOUR TAP cardiology or radiology departments or anywhere else they want to go in the hospital. “You can get lost pretty quickly inside a large hospital. It’s all about trying to improve the patient experience, reduce the levels of stress and anxiety whether you’re a patient or a family member going to visit a patient.” said Green. In addition to indoor mapping, a feature called parking planner helps users with another challenge — figuring out what to do with their cars. The app Our members share concerns for conservation. recommends the best parking location It bothers us that up to 130 million gallons of based on the user’s indoor destination New Jersey’s drinking water are wasted every and then provides directions and naviga- day due to aging underground pipes. tion to help them get to that exact garage or lot. WE PROMOTE CONSERVATION. “When they arrive in the parking Local 825 Operating Engineers are trained to install garage they get the blue dot navigation water infrastructure efficiently and without impacting from the moment they get out of their the environment. In New York, we are part of a team that car in the parking garage and it navigates will save 138 million gallons of drinking water every day, them to their appointment,” said Green. delivering clean water to millions of homes throughout A find-my-car feature saves the parking the region. spot inside the app and when they’re We believe in conservation and renewal that will only come done, provides the blue dot turn-by-turn with a commitment to infrastructure upgrades, before a navigation back to the car. serious or prolonged water shortage forces us to act. Because not everyone has a smart phone with web access, a web version of ON TIME. ON BUDGET. ON TARGET. the app can integrate the map and with Developers and contractors turn to Local 825 the website of the hospital. End users can Operating Engineers to get big things done safely, on see the map and then look at what their time and on budget. Our members are experienced, route is going to look like and send it to licensed, credentialed and ready to work, day one. their phone as a text message. They can also access MediNav via a touch screen kiosk inside the hospital. Green said that hospitals license the technology and the pricing is based on International Union of Operating Engineers the size of the facility. LOCAL 825 RWJBarnabas Greg Lalevee, Business Manager and Atlantic Health Systems have also de- BETTER BUILDING BEGINS HERE ployed the GPS tech- WWW.IUOE825.ORG nology. Valerie Simon, chief marketing officer, Simon

825_We_Save_Water_7_5x10indd.indd 1 4/6/17 4:45 PM www.njbiz.com NJBIZ February 18, 2019 7 Nice work if you get to know it The New Jersey Manufacturing Extension Program works to fill the skills gap that makes finding qualified employees a difficult job

BY DAVID HUTTER we take it for granted,” Marchetti said. ing people on manufacturing,” Okun @DAVID_NJBIZ In an effort to spread the word, added. NJMEP is launching a contest in con- What’s so cool about manufacturing? junction with the Boys & Girls Club of Outdated perceptions That question is at the center of the New Jersey for middle school students “We have to get young people to New Jersey Manufacturing Extension to create the best videos of manufactur- change misconceptions that they have Program, a nonprofit organization that ing employees. received from their parents,” Marchet- provides resources to support manufac- Marchetti Okun “They will ask manufacturers ques- ti said. “The [kindergarten to twelfth turing companies and manufacturing tions,” Marchetti said. “They plan what grade] school system rewards faculty for education in New Jersey. school principals and guidance coun- kinds of questions they want to ask and getting students into two- and four-year NJMEP Program Manager Michael selors. who they want to interview. They take a colleges, which is wonderful. But we are Marchetti and NJMEP Director of Mar- According to NJMEP, New Jersey fair amount of footage to reduce it to two saying: Wait a minute. There are other keting and Public Relations Peter Okun manufacturing jobs pay an average sal- and a half minutes so there are editing career paths.” explained that they work with educators ary of $90,540; life sciences jobs aver- skills to get to the heart of the matter.” Conventional wisdom holds that to teach them about the importance of age $137,000; Science/Technology/En- “Other people will vote on the best U.S. manufacturing has been in a more preparing high school students for ca- gineering/Mathematics jobs $118,000; video,” Okun said. “The MEP centers in or less permanent decline, with compa- reers in manufacturing. And they are and transportation, logistics and distri- Pennsylvania currently have this initia- nies shifting jobs to low-cost locations educating society on the importance of bution jobs $72,569. More than 360,000 tive ‘What’s so cool about manufactur- like China. But in 2011, The Boston Con- manufacturing. NJMEP is also contacting New Jersey residents work in manufac- ing?’ and it has gone exceptionally well.” sulting Group suggested that China’s New Jersey manufacturing companies turing. “We were taking some guidance cost advantage in manufacturing was to provide tours of their facilities to high “Everything is manufactured — and from them and we are all about educat- shrinking and predicted that companies

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8 February 18, 2019 NJBIZ www.njbiz.com would eventually begin expanding ca- manufacturing jobs are high-paying, of- prenticeship. is a common set of skills that will apply pacity in the U.S., Marchetti said. fer health benefits and career benefits. “We are creating additional on- regardless of the manufacturing compa- Mark Cacace, Passaic County Tech- “Our goal is to get into the commu- ramps for people,” he said. “We have ny and its occupational needs. nical Institute supervisor of instruction, nity of underemployed residents to en- people looking for better jobs and com- “The problem with an institution has partnered with NJMEP for years in- roll at County College of Morris, to get panies offering better jobs.” like us is we cannot train three people troduce students to manufacturing. The into the industry quickly,” Enright said. County College of Morris has two for a specific company,” Enright said. institute is a high school that offers a “You can take a 15-credit certificate associate degree programs. One enrolls “We educate 15 to 20 students in one co- school-to-career program. program. We are talking with non-tra- 160 college and 40 high school students hort at a time.” “We are required to broaden the ditional age students. So many of these in mechanical engineering; another “Our success is because of our part- minds of students,” Cacace said. “NJMEP employers will pay for you to complete enrolls 80 students in electronics engi- nership with NJMEP,” Cacace said. “In- has connected us to manufacturers who your degree. Our next initiative is a boot neering. dustry is helping us with training.” open their doors to students to shadow camp-style six weeks like a single ap- Enright asks himself whether there Email: [email protected] their business for a day. “Students see something as simple as a water bottle is manufactured,” Ca- cace said. “We are creating career jobs. We are teaching students these are not dead-end jobs. We have pathways for colleges so they can better themselves. NJMEP is coming along with apprentice- COUNT ON OUR ships and professional development.” Patrick Enright, associate vice president for workforce development and Dean for the School of Professional CAPITAL. BUILD Studies and Applied Sciences at the County College of Morris agrees that manufacturing is a great job market. Yet YOUR BUSINESS. companies struggle to find skilled workers. “A company has a billboard advertising open jobs with salaries,” Enright said. Among the challenges for manu- Walter Sierotko, EVP facturing is the mental image many students hold of a factory from the 1950s. 732.726.5420 “One of our efforts is to push out the design of our laboratories to the way we talk to students. We talk about robotics, computer programming, the internet of things and computing codes.” The County College of Morris created an engineering design and advanced manufacturing program through which high school students take dual credit classes in engineering. On Jan. 30 the college held a groundbreaking ceremony to mark the start of construction on an $11 million Advanced Manufacturing and Engineer- ing Center. The building was funded by TOTAL TEAM the state, Morris County and private donors. The facility is scheduled to open in LENDING spring 2020. “In order to make the program SM work, we hold open houses with an em- C OMMITMENT YOU CAN COUNT ON . phasis that this is not your great-grand- father’s manufacturing,” Enright said. “Many manufacturers want someone who understands the machine. A moti- vator behind our new building is to add to our programs. We describe robotics programming to students. The students need to see robots. We are making sure that what they see is relevant to their RECENTLY FINANCED world.” Enright is also recruiting people $18,000,000 $16,500,000 $8,900,000 INDUSTRIAL CONSTRUCTION LOAN OFFICE BRIDGE LOAN OFFICE/RETAIL CONSTRUCTION PERMANENT LOAN to switch careers into manufacturing. PISCATAWAY, NJ RED BANK, NJ SUMMIT, NJ Many New Jersey residents work jobs that do not pay living wages, health ben- www.Provident.Bank efits or retirement benefits. Enright says www.njbiz.com NJBIZ February 18, 2019 9 Lightening up your morning routine Hello Products, a Montclair-based toothpaste maker, may be the friendliest company around

BY GABRIELLE SAULSBERY Cue the tagline “naturally friendly” @GSAULSBERY and phrases like “hello rockstar” and “rush to brush” on the packaging of Dubitsky’s Let’s face it: Most people don’t get excited toothpaste and floss. about toothpaste. Brushing your teeth is “I know they were saying this stuff is so just a fact of life — something you do on magical it gets down to the roots, but every- good days, on bad days, when you just got thing in the language around these things paid and when you’re broke. was about killing and fighting,” he said. But let’s give a nod to the current cul- “’There’s a war waging in your mouth, you tural moment and channel Marie Kondo of need to arm yourself.’ Everything seemed to “Tidying Up” fame: Even everyday prod- be about shame and fear. ‘If you’re not whit- ucts can spark joy. ening, you’re frightening.’ Everything was de- At the very least, said Hello Products signed to scare or embarrass you.” founder Craig Dubitsky, pedestrian goods He also noticed the ingredients list on shouldn’t spark fear or shame. Hello Prod- toothpaste often included triclosan and sac- ucts was born in his mind six years ago in charine — two once-controversial substances the aisle of a Manhattan drug store when — and wondered, “Why should that go in my he noticed all the toothpaste packaging mouth?” featured illustrations of extracted teeth, something he deems “the last thing I’d ever Pizza, moving and metals want to see.” By then, Dubitsky was already a bona Some of Hello Products’ offerings. - AARON HOUSTON

10 February 18, 2019 NJBIZ www.njbiz.com fide idea man. He was a creator, never hav- said. “Our CEO ran brands at Johnson Bunny certified — that is, guaranteed to be gienists who want to know more. Others are ing applied for a job in his life, even for the & Johnson and Pfizer. Our head of sales free of animal testing — and Dubitsky has personal. One skype call came from a Saudi times he worked for other people. In the ran the northeast for Unilever. The team personal relationships with his suppliers. man on a camping trip with his son who 1980s, he ran a late-night pizza shop and a is amazing, and that’s a testimony to the As accessible as it is transparent, Hello showed Dubitsky the dunes around them. moving business on his college campus in power of the idea and how big our aspira- is now available in 40,000 stores for under In two other instances, topless men Skyped Rochester, N.Y. tions are.” $5 a tube. It’s on the shelves in such out- him with doubts that he’d even pick up. Through a sort-of-chance encounter The first person he brought on was lets as Target and TJX stores and the place- But he did, and still does. with a higher-up at Citigroup in the 1990s Connie Gregson, a formulator with a his- ment of a high-end product with mass “You can’t call yourself naturally — he was introduced through the trea- tory at Pepsi and in oral care who walked market retailers was a conscious choice. friendly and be unreachable,” he said. surer at Coca Cola, who made the connec- the talk as a holistic mother, cognizant of Dubitsky didn’t want it to be for the 1 per- “You can’t call your company Hello and tion after Dubitsky had cold-called him the fact that what goes in the body is what cent or the 99 percent, but the 100 percent, then no one can say hello to you. That just for three years straight in hopes of trading comes out of it. She took care to leave out he said: one of his proudest moments was seems disingenuous.” currency futures — Dubitsky became Citi’s any scary ingredients and Dubitsky styled landing Hello on the shelves at every U.S. His team of 20 has turned natural London Metals Exchange specialist. In the the ingredients list on the packages with as Walmart location. friendliness into a profitable venture. Al- early years of this century, his eye for de- much transparency as possible. “We didn’t want to leave anybody out. though Dubitsky wouldn’t specify how tail persuaded retail giant Simon Proper- Although products with fluoride have Everyone deserves a better product, but if much revenue the company brings in — ties in San Francisco to name him Senior the typical FDA-required Drug Facts on you do that and you say we’re only going to and insisted that previously published Vice President of Venture Development, a the box, fluoride-free versions have more sell it at a cool chi-chi boutique, that’s not articles putting a number on his business position created just for him. regulatory wiggle room and can have a interesting to me. That’s not to say that’s a did so without a reliable source and got “I see holes in everything. I see oppor- detailed ingredients list, specifying a pur- bad model, for someone that’s great. But I the number wrong on the low end anyway tunity everywhere,” he said. pose next to each substance. Hello’s list want to be high-end, just not high-priced.” — he said he stopped counting inbound He’d already co-created the popular reads something like this: “sorbitol (hu- requests from other countries when the eos lipbalm and was an early investor in mectant), purified water (hooray), calci- Skype him and he’ll answer count reached 83. method cleaning products, so he knew the um carbonate (polishes and cleans teeth), The brand’s availability doesn’t just Hello only sells in the U.S. for now. packaged goods business. But Dubitsky [and] coconut oil (soothes and moistur- extend to the physical product. Dubitsky “We’re here. We’re in business. We’re size- was particular about everything, from the izes).” uses it as a tenet of his own life, and the able, and we’re growing. We’ll get to the people he brought onto the team to a me- The mint in Hello’s products comes proof is in the Skype button on Hello’s rest of the world because we want to be ticulously structured supply chain. Dis- from fourth-generation women farm- website. Click it. He’ll answer. everywhere, but we’ve gotta make sure we rupting a $40 billion global category like ers in Oregon. Their stevia is sustainably On a busy day, he’ll get 10 calls. Many of get everything fully optimized right here oral care was no small task. grown in Paraguay, and their xylitol, sor- these calls are from retailers in other parts of because it’s the biggest market and biggest “We built it from day one to be a triple bitol, and erythritol come from non-GMO the world, while others come from market- opportunity.” digit million dollar business,” Dubitsky corn. Their entire supply chain is Leaping ing students studying the brand or dental hy- Email: [email protected]

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NJBIZ is seeking Digital/Technology Innovators in the following (but not limited to) industries: Accounting, Banking, Healthcare, Insurance, Legal, Manufacturing, and Technology. Are you an Innovator in the digital technology space? Whether it’s for an established brand focused on digital transformation, a new company with a constant drive on innovation, a small company, a large company, public or private - we want to hear from YOU*.

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Sponsor: Doug Campbell, vice president of SICAM, with his company’s multi jet fusion machine. - AARON HOUSTON How multi-jet fusion technology could spark a 3D printing revolution

BY DAVID HUTTER this technology, they can make it in one @DAVID_NJBIZ part. That is where the savings come in because now instead of making 30 parts and Hillsborough-based SICAM Corp. special- making tools to make 30 parts and then as- izes in 3D printing, prototyping, tooling, sembling all those parts, this equipment and manufacturing. Incorporated in 1990, can make it in one part.” SICAM has clients in 38 states from a va- In additive manufacturing materials riety of industries: aerospace, automotive, are joined to make objects from 3D model computer, consumer, government, indus- data, usually layer upon layer. This pro- trial, medical, pharmaceutical and tele- cess differs from subtractive methodolo- communications. The company also now gies whereby the manufacturer starts with owns a multi-jet fusion machine that vice large objects and removes pieces. Think of president Doug Campbell says will make stamping or carving plastic, metal or wood 3D printing technology a more viable op- to create new products. tion than previous technologies. Customers who are benefitting from Campbell said SICAM is using the multi-jet fusion technology include Span- machine, which it purchased for $400,000 ish manufacturer Aurea Avionics, elec- from HP Inc., to change manufacturing. tronics consumer goods company Peau He predicts the multi-jet fusion machine Productions, Italian engineering company will revolutionize 3D printing — or addi- Sigma Ingegneria, British additive manu- tive manufacturing — for production. Until facturer FDM Digital Solutions, EEBE e- the 3D printing equipment became cost- Tech Racing from the Universitat Politèc- effective, there was no point in designing nica de Catalunya in Spain, Motor L’Escala for additive manufacturing, Campbell said. Racing Team in Spain, European train cor- Weekends Multi-jet fusion is a powder-based poration CAF, and Motus Motorcycles. technology that does not use lasers and Rob Hassold, CEO and founder of produces strong, lightweight products. The Branchburg-based 3D printing company technology is better than other 3D process- Cimquest Inc., said 3D printing started 30 es including injection molding because it years ago as a way of creating prototypes. is faster and less expensive, Campbell ex- In the beginning the materials were brittle plained. and the process took a long time, he said. “The advantage of designing for ad- Today Cimquest provides manu- ditive manufacturing, what is going to facturing training, metal and plastics 3D change in manufacturing, is the concept of printing, and mold analysis. Multi-jet fu- now you can design with more freedoms,” sion represents the first 3D printing tech- Campbell said. “A good example is Volk- nology that can be economically viable for swagen who makes an assembly for the manufacturing in larger production runs, inner guts of the side mirrors of cars. It is Hassold said. made of 30 pieces welded together. With See SICAM on page 24 www.njbiz.com NJBIZ February 18, 2019 13 SPOTLIGHTConstruction and Development It can be a challenge to put together blocks of land that can accommodate the several hundred thousand square feet of space today’s warehouses require. Early adapters Commercial and industrial developers are moving south and renovating properties to meet changing demands

BY MARTIN DAKS

hen William C. Hanson, president of the full-service com- Wmercial real estate firm NAI Hanson, looks outside his Teterboro office window, he sees a “new, modern warehouse, built by Forsgate that replaced an old structure.” It’s a scene that’s occurring across the state, said Hanson, as companies increasingly require larger warehouse-distribution facilities with higher clearance — “36 feet is the norm, and even higher for e-commerce distribution centers” — even as they grapple with a lack of space in the North and Central New Jersey markets. It can be a challenge to put together blocks of land that can accommodate the several hundred thousand square feet of space today’s warehouses require, not to mention expanded parking lots for trucks and cars, he noted. “Develop- ers today need to be creative,” he said. “An increasing number are going after contaminated sites that require reme- diation, and they’re also going further south. At one time, Exit 8A [Cranbury] on the New Jersey Turnpike was as far south as most developers would go, but that submarket is nearly built out, so regional distributors are looking at Exit 6 211 College Road at Princeton Forrestal Center. --COURTESY OF ML7 [Bordentown] or even lower. There’s also more interest in markets like Piscataway, ronment. “From the the only new office completion in 2018. off I-287.” landlord perspective, Fourth quarter numbers New Jersey is on the move when it there’s a lot of office • With an average asking rental rate • Approximately 447,730 square feet comes to commercial-industrial and of- building stock in New of nearly $45.35 per square foot, the were under construction in the Northern fice activity. Jersey that was built in Hudson Waterfront maintained the and Central New Jersey office market The Northern and Central New Jer- the 1980s, and existing highest Class A office rental rate in the at year-end. The 402,530-square-foot sey market generated more than 4.4 owners or new buyers state. This rate was also the highest ever Ironside Newark redevelopment project recorded in the submarket. million square feet of industrial lease are renovating them Romano accounted for most of this new develop- activity in the fourth quarter of 2018, ac- for today’s market,” • With an average asking rental rate ment. Mars Wrigley Confectionery US had cording to a recent NAI Hanson report. said Thomas Romano, a JLL managing just below $34.60 per square foot, the pre-leased 148,460 square feet at the For the year, total leasing was more than director and Princeton lead. “They’re Metropark office submarket recorded building during the second quarter. In ad- the highest asking Class A rental rate in 27 million square feet and average ask- renovating common spaces, ripping out dition, Edison Properties, the developer Central New Jersey. This figure was about ing rates rose to $8.16 per square foot, old leasehold improvements and fitting of Ironside Newark, recently announced $6.40 above the Central New Jersey aver- plans to occupy 39,710 square feet here up 77 cents from the year-ago fourth out new tenant spaces. “These kinds of age Class A asking rent. quarter. At year end, the vacancy rate investments pay off, because they lead for its headquarters, while the law firm • On the construction front, a was 2.9%, down 0.6% from the prior-year to leases, attracting new tenants and re- of Pearlman & Miranda leased 7,300 42,000-square-foot building at 300 fourth quarter. taining existing ones.” square feet. The project is expected to be Princeton South Corporate Center in completed this year. The office segment also posted a The overhauls include new lobbies, Ewing was completed for GS1 during the strong showing as developers and land- bathrooms, and more “amenity spaces” fourth quarter. This project represented Source: JLL research lords responded to a changing envi- See RENOVATING on page 21

14 February 18, 2019 NJBIZ www.njbiz.com DISCA’s Annual Excellence In Construction Awards www.disca.org

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DePalma Contracting, Inc. NERCC Apprentice Training Center ClarkDietrich Building Systems General Contractor: Fitz Patrick & Associates Architect: Dicaro Rubino SPOTLIGHT CONSTRUCTION AND DEVELOPMENT Beyond the Gold Coast Residential developers cross socio-economic lines to satisfy a range of customers

BY MARTIN DAKS

emand for multifamily residential and mixed-use development Dis strong in New Jersey, but high- priced, luxury residences in places like Hoboken, Jersey City and parts of Newark account for only part of the story, said Ed- win Cohen, a principal in the real estate firm Prism Capital Partners LLC. “The state lacks supply for middle-income individuals,” he said. “That’s the market we’re focusing on, mainly at or near train sta- tions and other mass transit.” One such project is Dunellen Station, the repurposing of the former Art Color industrial facility into a mixed-use, transit-oriented community. Located close to the borough’s downtown business district and directly across from the train station, plans call for some 250 one- and two- Modera 55 Morristown. --MILL CREEK RESIDENTIAL

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16 February 18, 2019 NJBIZ www.njbiz.com SPOTLIGHT CONSTRUCTION AND DEVELOPMENT

Don’t ignore infrastructure “Projects like the elevation of the Bayonne expands the ability of public agencies to Bridge [which was raised by about 64 feet, enter into public-private partnerships (P3s) The commercial-industrial, office and resi- to allow larger ships to pass under] and the for capital projects aimed at reinforcing the dential developments going up in New Jersey widening of the New Jersey Turnpike [from state’s infrastructure. “The new P3 legisla- may be geographically and demographically Exit 6 to 9] led to more warehouse develop- tion may open up opportunities to build more dispersed, but they all have one thing in ment down south to exit 6 and beyond, as train station and other development, like the common — access to infrastructure — ac- well as other kinds of development,” noted Hoboken Yards project,” he said. “When you cording to Greg Lalevee, business manager Lalevee. “Infrastructure investment has a bring the private sector in, you’re bringing of International Union of Operating Engi- direct, positive effect on real estate activity.” in additional funding and creating more neers Local 825 and chair of the Engineers He was encouraged last year when Gov. jobs; and the projects can then drive new tax LaborEmployer Cooperative (ELEC). Phil Murphy signed legislation that greatly revenue.”

Boost Rendering of Asbury Ocean Club. -- COURTESY ISTAR bedroom apartments, along with 10,000 Your Business square feet of retail. Adjacent to Dunellen Station, a “national homebuilder” will put up 130 townhouses for sale, Cohen added. Lakeland Bank’s SBA Preferred “Dunellen Station residents will enjoy a Lender status means faster full amenities package including a clubhouse, meeting rooms, fitness center, out- loan approvals made locally, so door pool with patio and entertainment area. The design reflects the character of you can get back to business! the former Art Color building, with the retail component and clubhouse comple- menting the neighborhood with a transit SBA Financing Provides: theme. They’re top quality, but the units won’t carry a Gold Coast price point.” • Loans from $250,000 to $5 million Transit-oriented communities “are a big deal,” he said. “They appeal across • Terms up to 25 years demographics, from millennials to baby • Down payments as low as 10% boomer downsizers who are selling their home. But there’s a shortage of these kind of quality-built units in this price range.” Mill Creek Residential, one of the na- tion’s largest multifamily developers and operators, has also built some communities in New Jersey that are located adjacent Thomas Lilley to major transportation centers that offer 732-276-1352 bus, light rail, and New Jersey Transit ac- [email protected] cess. “While much emphasis has been placed on the Gold Coast by other developers, Mill Creek has also established transit-oriented communities in other suburban locales like as Parsippany and Morristown,” said Russell Tepper, senior managing director at Mill Creek Residen- it’s simple. tial. “We’re bullish on northern New Jer- Contact our SBA team to learn more! sey suburban markets,” he said. “They’re very popular among millennials and others who work in New York City.” Walkable Morristown and Asbury Park

Two such Morristown developments *All loans subject to credit approval. SBA fees may apply. LakelandBank.com 866-224-1379 are Modera 44 and Modera 55, a total of See DEVELOPERS on page 21 www.njbiz.com NJBIZ February 18, 2019 17 SPOTLIGHT CONSTRUCTION AND DEVELOPMENT Retail redux How brick-and-mortar businesses can adapt to an e-commerce world

BY MARTIN DAKS Shopping centers string of retail failures — including are also evolving Wayne-based Toys R Us, and oth- To continue to compete in today’s environ- Aers across a variety of categories like ment, shopping centers also need to evolve, Sears, Bon-Ton, Wet Seal and RadioShack said Stephanie Cegielski, spokesperson for — has some experts questioning whether the International Council of Shopping Centers. “Successful ones tend to have a diverse tenant brick-and-mortar companies can survive in base,” she said. “For example, instead of a the age of e-commerce. But brands that keep majority of stores carrying apparel, you’re close track of their markets and are willing to seeing more of a mix, with an Apple store, adapt can do well despite today’s challenging perhaps a Peleton [a chain that sells exercise environment. equipment] as well as department stores. Food and beverage [restaurants] is another growing “We hear a lot about troubled retail- category, with about 1 million jobs added in ers like Sears and Toys R Us, but retail stores the past three years.” continue to open,” said Stephanie Cegielski, She pointed to The Mall at Short Hills as an spokesperson for the International Council The North Village Shopping Center in North Brunswick. -- PHOTO CREDIT_LEVIN MANAGEMENT CORP. example of that kind of change. “Saks Fifth of Shopping Centers. “This is actually an op- Ave. closed its Short Hills Mall location [and portunity for retailers to reimagine the way the smaller-format stores still offer manicure, while finding new ways to engage custom- is relocating to the soon-to-open American their business operates.” personal shopper and other individualized ers,” said Matthew K. Harding, CEO of Levin Dream megamall], and the space was taken up by Crate and Barrel on one floor, while services.” Management Corp. “Grocers, for example, Amazon isn’t always the culprit Canadian bookseller Indigo will take up the A recent Morningstar research report are working to distinguish themselves with first floor.” The popular perception is that Amazon supports that notion. While Macy’s and other enhancements like online ordering, in- The Garden State Plaza in Westfield also and other online retailers doomed Toys R department store competitors have suffered store demonstrations, more proprietary diversified and drew in a variety of stores to Us, but the real culprit was debt, she added. declining sales, Nordstrom increased rev- and prepared foods, and café-style seating. successfully attract customers, she added. “A “Toys R Us was overleveraged following its enue from about $10 billion to $16 billion be- Walmart’s new ‘town center, model, which mall used to be a box with four anchor stores,” acquisition by private equity firms,” Cegielski tween 2010 and 2018, according to the report, incorporates a mix of uses in its stores and Cegielski said. “Today, demand for traditional department stores is down, and it’s being said. The company was acquired by a group and “consistently reported positive same- Kohl’s successful partnership with Amazon replaced by boutiques, gyms and other stores. of investors in a 2005 leveraged buyout that store sales growth over this period.” are other examples. TJX brands are experi- The very concept of malls is also changing, reportedly added nearly $5 billion of debt “The company has about 140 full-price encing continued growth and success due with some properties being developed as an to the company’s balance sheet — from the stores, nearly all of them in desirable Class A in part to these stores’ continually changing outdoor town center experience. nearly $1 billion it had already incurred — malls” where sales top $500 per square foot. merchandise, and the ability for shoppers to and raised its annual interest payments to purchase designer items at deeply discount- es of recreation and community engagement. $450 million, almost twice as much as the Building a customer base ed prices.” The most successful properties today are company’s annual net profit. Nordstrom has “cultivated a loyal cus- In LMC’s 2019 Retail Sentiment Out- striking a balance by offering a diverse tenant The “substantial debt service obligations tomer base through its reputation for differ- look survey, “68.2% of respondents who have mix that provides ample reason for consum- impair the company’s ability to invest in its entiated products and service and has built adapted their business models said they are ers to visit.” business and future,” noted then-CEO David a narrow economic moat based on an intan- seeing the benefits in terms of sales and in- He cited North Village Shopping Center A. Brandon in a September 2017 Chapter 11 gible brand asset, in our view,” according to store traffic,” he added. “The single-most in- in North Brunswick — where LMC serves petition. “As a result, the company has fallen Morningstar, which also noted the company corporated change — embraced by 63.3% of as leasing and managing agent — as an ex- behind some of its primary competitors on maintains “successful full-price, off-price, LMC survey respondents who have adapted ample. “In 2016, Barnes & Noble vacated a various fronts, including with regard to gen- and e-commerce channels.” their business models — centers on increased 25,000-square-foot anchor space at the prop- eral upkeep and the condition of our stores, This kind of balance, supplementing training and focus on customer service.” erty. While filling it with a like replacement our inability to provide expedited shipping brick-and-mortar outlets with e-commerce, Other enhancements include increased was one possibility, we opted to carve out a options, and our lack of a subscription-based also works in reverse, noted Cegielski. “UN- use of technology-centered tools to assist portion of the former Barnes & Noble space delivery service.” TUCKit [a clothing company launched by customers in-store, increased use of tech- to accommodate a specialty grocer and sub- It’s not just a matter of dollars and cents, Franklin Lakes native Chris Riccobono] was nology-centered marketing tools to reach sequently secured a lease with Trader Joe’s.” however. Companies that continue to do originally online only, and then began estab- customers outside the store and increased The strategy enabled the company to well, like fashion retailer Nordstrom Inc., lishing physical locations, including one in in-store services and incentives. “The lat- allocate the balance of the vacant space for make an effort to research and meet the The Mall at Short Hills.” ter often includes in-store, online ordering, additional retail units. “As part of the result- needs of their target market. “The successful Millennials and other demographic with free shipping, for out-of-stock items ing retrofit, our construction team complet- retailers know they have to draw in the mil- cohorts also want a fresh experience, she and in-store pickup/returns for purchases ed a program of exterior and common area lennials, who want a positive customer expe- added. “They like Marshalls and T.J. Maxx be- made online,” Hardin said. “Retail is embrac- renovations and widened one of the prop- rience and a good deal on pricing,” Cegielski cause both have new items constantly coming change and this sector must constantly erty driveways. The new Trader Joe’s has suc- said. “Nordstrom, for example, still has big- ing in, and offer a good deal on pricing,” Ce- evolve to survive and thrive. Consumers are cessfully bolstered North Village Shopping box locations, but the company is also try- gielski said. The two chains operate off-price spending more time on-line than ever before, Center’s competitive position. Following the ing smaller-format stores with less inventory department stores owned by TJX Cos. that and likewise, digital technology is transform- supermarket’s late 2017 opening, the prop- — millennials want to see touch and feel a offer apparel and home goods. ing the retail real estate industry. As a result, erty drew new commitments from national purchase, but they [can order it online and] The most successful retailers across shopping centers are evolving from places retailer Ulta Beauty and hair care franchise don’t have to walk out with it — and even all categories “are offering quality products that simply offer goods and services to sourc- Sport Clips.”

18 February 18, 2019 NJBIZ www.njbiz.com Build it Better.

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DEVELOPERS dent of Land & Develop- CONTINUED FROM PAGE 17 ment Brian Cheripka. “You have the serenity more than 400 units on Prospect Street. of the ocean and beach “They’re walkable to downtown, and each complemented by the development offers multiple amenities,” energy of a thriving he said, including a 24-hour fitness center, downtown scene and a resident clubhouse with multiple ‘social nearby public trans- Cheripka zones,’ and a coffee bar-internet café at portation. To be able to Modera 44; and a 7,000 square-foot rooftop leave the hustle and bustle of Manhattan, deck with outdoor kitchen and bar, lounge get on a train and arrive in Asbury Park in seating at Modera 55. 70 minutes and have your toes in the sand “Our residences appeal to millennials, in 80 minutes is very compelling, particu- empty-nester baby boomers and others,” Dunellen Station. --- COURTESY PRISM CAPITAL PARTNERS larly given that the Hamptons takes three Tepper added. “Today, many people want times that long.” to live in a place that’s walkable to a train with a wraparound terrace and floor-to- ema, library and billiards room, business Prospective buyers include residents station and walkable to downtown.” ceiling windows. Residents also get 24/7 center and spa. from “across New York, Pennsylvania and Recognizing those kinds of trends concierge service, a terrace with a 65-foot “We are constantly hearing from buy- New Jersey including Mercer, Bergen, Hud- spurred iStar, a REIT, to build Asbury Ocean by 30-foot pool overlooking the ocean, a ers that they are drawn to walkable com- son and Monmouth Counties,” he added. Club, a high-rise luxury residential devel- full-service pool bar and grill, a garden pa- munities with a diverse and vibrant down- “There has been strong interest from New opment and hotel where apartments start vilion with reflecting pool and an outdoor town that is easily accessed by mass transit, Hope, Pennsylvania where the food and at close to $1 million. lounge with fireplace. Other amenities in- and this is exactly what Asbury Park has to music scene is very similar to the energy of Each unit features oceanfront views clude a fitness center, demo-kitchen, cin- offer,” according to iStar Senior Vice Presi- Asbury Park.”

RENOVATING CONTINUED FROM PAGE 14 like full-service cafeterias — or when space prevents that, a 150 to 200 square- foot fully stocked “grab and go” — fitness centers, outdoor seating and game areas. “At 211 College Road East [in the Princeton Forrestal Center complex], the owner renovated the lobby and other areas, and rebranded it to Hub 211 in a bid to attract TAMI tenants,” Romano said, referring to the technology, advertising, media and information segments. “We quickly got activity, and expect to be 70% leased after a year.” Similarly, at 777 Scudders Mill Road — the former Bristol-Myers Squibb 211 College Road lobby remodel. --- COURTESY OF ML7 headquarters campus in Plainsboro — “the owners are making substantial into Google’s headquarters, you imme- labor market,” the real estate services firm working and equipment-facility sharing, capital investments, including a lobby diately see it’s a cool, hip place to work.” noted. “These properties will continue to like common conference rooms, copiers, renovation, and refreshing features like boast higher occupancy levels and charge a faxes, and kitchens.” walking trails, a cafeteria, a fitness cen- Recycling buildings premium for space above the rest of the sub- During an October NAIOP New Jer- ter and other amenities. They’re getting Hanson sees similar trends. “We’re not urban market.” sey industry insights conference, Hugo Neu incredible tenant interest and are in tracking much speculative construction, but Meanwhile, the repurposing of older, Corp. CFO Steve Nislick, underscored the the process of negotiating a substantial landlords are buying and refurbishing older obsolete office stock “should also keep the trends. lease.” properties,” he said. market’s office vacancy rate stable in the near “The office of the future has already These kinds of initiatives aren’t “They’re repositioning them with ame- future,” according to a Cushman & Wakefield been defined by millennials and the com- limited to the Princeton market, added nities like a gym, a cafeteria and other onsite report. panies looking to attract them,” said Nislick, Romano. “We’re seeing this across New services so tenants’ employees don’t have to “Demand should remain steady as 2019 whose firm’s 130-acre Kearny Point project is Jersey and nationally,” he said. “The ten- leave the building.” gets underway, as some notable transac- repurposing buildings in a former shipyard ant perspective is increasingly shifting The Northern and Central New Jersey tions are anticipated to close during the first into office and industrial spaces. “To create from the baby boomers to millennials, Class A and B office market consists of 232.9 quarter and touring activity by mid-sized and a modern workplace for a diverse business who work differently and were raised on million square feet in 12 counties, according large corporations remains healthy.” community, the first thing we look for is loca- technology and collaboration. In turn, to the most recent NAI Hanson office report. tion. If it’s not in an urban environment, it’s a tenants want space that is more efficient, Average asking rates ended the quarter at Different categories, similar trends non-starter.” and more productive.” $24.75 per square foot, up about a half-dollar Office, commercial, and industrial Nislick said space flexibility also is criti- Branding is also part of the make- from the fourth quarter of 2017. may be separate categories, but they do cal. “At Kearny Point, office spaces range from over. “The design and look of your space Certain attributes also matter, accord- share some common trends, according 35 to 10,000 square feet and we’re providing a speaks to your culture and your brand,” ing to research from Cushman & Wakefield. to NAIOP New Jersey CEO Michael G. turnkey solution that includes IT, conference according to Romano. “Companies want Buildings that boast amenities and upgraded McGuinness. “In New Jersey we’re see- rooms and short-term leases. If you look at to differentiate their space from the com- assets “will continue to outperform outdated ing short-term leases, smaller spaces, and companies like WeWork, leasing space on a petition so they can attract and retain office buildings as corporations compete for more attention being paid to amenities,” short-term basis and taking the risk is where employees. For example, when you walk highly skilled workers in the currently tight he said. Other tenant desires include “co- the market is headed.” www.njbiz.com NJBIZ February 18, 2019 21 NEW JERSEY’S TOP NEW JERSEY'S TOP Commercial Real Estate Brokerages For full list, visit www.njbiz.com/lists Commercial Real Estate Brokerages Ranked by: the number of New Jersey brokers Lists Ranked by the number of New Jersey brokers By Bethany Wiegand BY BETHANY WIEGAND FOR FULL LIST, VISIT NJBIZ.COM/LISTS

COMPANY NJ 2018 WEBSITE ADDRESS DEALS COMPLETED RANK | PREV. YEAR EST. PHONE | FAX SENIOR EXECUTIVE(S) SQ. FT. SOLD/LEASED N.J. BROKERS 1 | 1 CBRE 250 Pehle Ave. Jeffrey D. Hipschman 930 209 www.cbre.us/people-and-offices/ Saddle Brook, 07663 31,418,063 corporate-offices/northern-new-jersey (201) 712-5600 | (201) 712-5650 1906 2 | 3 JLL 1 Meadowlands Plaza, Suite 804 Robert C. Kossar, Daniel J. Loughlin, Terry Harris 709 150 www.jll.com/new-jersey/en-us East Rutherford, 07073 28,161,034 1999 (201) 528-4400 | (201) 528-4401

3 | 4 Newmark Knight Frank 201 Route 17 N. David Simson NA 108 www.ngkf.com Rutherford, 07070 10,247,218 1994 (201) 842-6700 | (201) 842-6701

4 | 2 Cushman & Wakefield 1 Meadowlands Plaza Andrew R. Judd 682 90 www.cushwake.com East Rutherford, 07073 101,718,000 1917 (201) 935-4000 | (201) 935-0724

5 | 5 Sitar Realty Co. TCN Worldwide 1481 Oak Tree Road William Sitar Sr., Douglas Sitar, Bill Sitar, Helena Loelius NA 70 www.sitarcompany.com Iselin, 08830 6,075,098 1978 (732) 293-9000 | (732) 283-3103

6 | 6 Weichert Commercial Brokerage Inc. 225 Littleton Road James Sousa, John G. Udell NA 53 www.weichertcommercial.com Morris Plains, 07950 2,897,777 1969 (973) 267-7778 | (973) 267-5432

7 | 7 Marcus & Millichap Real Estate Investment Services 250 Pehle Ave. Brian Hosey 141 47 www.marcusmillichap.com Saddle Brook, 07663 3,239,701 1997 (201) 742-6100 | (201) 742-6110

8 | 8 NAI James E. Hanson 195 North St., Suite 100 William C. Hanson, Ivette Correa, Virginia Conrad 220 46 www.naihanson.com Teterboro, 07608 3,500,000 1955 (201) 488-5800 | (201) 488-0246

9 | 10 Lee & Associates New Jersey LLC 669 River Drive Richard Marchisio, Brian Lynch, Jason Lynch 161 37 www.lee-associates.com/newjersey Elmwood Park, 07407 18,047,279 2009 (973) 337-1144 | (888) 267-3446

10 | 9 Colliers International Morris Corporate Center I Dennis A. Waggmer 348 33 www.colliers.com 300 Interpace Parkway 7,592,708 2010 Parsippany, 07054 (973) 299-3000 | (973) 299-3001 11 | 12 The Kislak Co. Inc. and Kislak 100 Woodbridge Center Drive Robert J. Holland, Jason A. Pucci 171 32 Commercial Real Estate Services Inc. Woodbridge, 07095 5,688,408 www.kislakrealty.com (732) 750-3000 | (732) 750-3040 1906 12 | 10 The Blau & Berg Co. 830 Morris Turnpike, Suite 201 Kenneth F. Crimmins, Jason M. Crimmins, NA 31 www.blauberg.com Short Hills, 07078 Charles T. Kavanagh, Alessandro "Alex" Conte 10,250,000 1932 (973) 379-6644 | (973) 379-1616

13 | 16 NAI DiLeo-Bram & Co. 1315 Stelton Road Robert J. DiLeo, Eric Bram Johnston, Greg Brown 211 28 www.naidb.com Piscataway, 08854 1,916,162 1937 (732) 985-3000 | (732) 985-3022

14 | 13 Savills Studley 201 Route 17 N. Thomas Carragher, Christopher Marx, Gregg Najarian 226 27 www.savills-studley.com Rutherford, 07070 16,513,647 1954 (201) 556-9700 | (201) 556-9277

15 | 15 The Goldstein Group 45 Eisenhower Drive Neil Goldstein, Chuck Lanyard, Alan Goldstein, NA 26 www.thegoldsteingroup.com Paramus, 07652 Lew Finkelstein 2,700,000 1986 (201) 703-9700 | (201) 703-9678

16 | 14 Team Resources Inc. 1050 Wall St. W. Gregory S. Sholom, David Cantor, Joseph Manganaro, NA 25 www.teamresourcesinc.com Lyndhurst, 07071 Eric Lewin 4,450,034 1989 (201) 438-1177 | (201) 438-1002

17 | 16 Newmark Associates CRE 7 E. Frederick Place, Suite 500 Susanne Newmark, Nancy Glick 204 24 www.newmarkrealestate.com Cedar Knolls, 07927 1,041,880 1989 (973) 884-4444 | NA

18 | 20 Bussel Realty Corp. 2 Ethel Road, Suite 202A Steven Bussel NA 22 www.bussel.com Edison, 08817 5,000,000 1984 (732) 287-3777 | (732) 287-1090

18 | 18 Transwestern Commercial Services LLC 180 Park Ave. James H. Postell, Lisa Addeo NA 22 www.transwestern.com Florham Park, 07932 3,500,000 1978 (973) 947-9200 | (973) 947-9199

20 | 18 Avison Young 1120 Headquarters Plaza Jeffrey L. Heller, Thomas J. Walsh, Daniel Frank NA 21 www.avisonyoung.com North Tower, 8th Floor 8,100,088 1978(1) Morristown, 07960 (973) 898-6360 | (973) 898-9062 21 | 21 NAI Mertz 21 Roland Ave. Barry Mertz, David Grove, Scott Mertz NA 20 www.naimertz.com Mount Laurel, 08054 12,687,855 1980 (856) 234-9600 | (856) 234-4957

22 | 22 The Garibaldi Group 14 Fairmount Ave. James J. Garibaldi, Jeffrey J. Garibaldi, Peter Blanchard, 105 16 www.garibaldi.com Chatham, 07928 Greg Marsh 3,502,868 1919 (973) 635-0303 | (973) 635-8363

23 | 24 R.J. Brunelli & Co. LLC 400 Perrine Road, Suite 405 Richard Brunelli, Ron DeLuca, Danielle Brunelli NA 14 www.rjbrunelli.com Old Bridge, 08857 1,100,000 1976 (732) 721-5800 | (732) 721-9241

24 | 29 Wolf Commercial Real Estate LLC 951 Route 73, Suite D Jason M. Wolf, Lee E. Fein, Brian P. Propp, Tony Banks NA 13 www.wolfcre.com Marlton, 08053 1,750,000 2012 (856) 857-6300 | (856) 283-3950

25 | 24 HFF 200 Campus Drive, Suite 410 Jose Cruz, Jon Mikula 53 12 www.hfflp.com Florham Park, 07932 14,264,403 1998 (973) 549-2000 | NA

25 | 24 Stafford Smith Realty 630 Broad St. Ray S. Smith 50 12 www.ssrealty.com Shrewsbury, 07702 500,000 1984 (732) 747-1000 | NA

Source: The companies. (1) New Jersey office established 2012. 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.

22 February 18, 2019 NJBIZ www.njbiz.com NEW JERSEY’S TOP NEW JERSEY'S TOP Commercial Real Estate Developers For full list, visit www.njbiz.com/lists Commercial Real Estate Developers Ranked by: square footage owned/controlled in New Jersey Lists Ranked by square footage owned/controlled in New Jersey By Bethany Wiegand BY BETHANY WIEGAND FOR FULL LIST, VISIT NJBIZ.COM/LISTS

COMPANY RANK | WEBSITE ADDRESS DEVELOPMENT TYPE(S) PREV. YEAR EST. PHONE | FAX SENIOR EXECUTIVE(S) PARTIAL LIST OF PROJECTS N.J. SQ. FT. 1 | 1 Prologis 1 Meadowlands Plaza, Suite 100 Jesse Harty Industrial 36,000,000 www.prologis.com East Rutherford, 07073 NA 1983 (201) 635-6000 | (201) 635-6001

2 | 3 Heller Industrial Parks 205 Mill Road NA Industrial, multifamily and land 32,000,000(*) www.hellerpark.com Edison, 08837 Heller Park Edison, Heller Park South Brunswick, Heller Park 1966 (732) 287-4880 | (732) 287-5033 Franklin Township

3 | 4 Matrix Development Group 3 Centre Drive Joseph S. Taylor, Donald M. Epstein, Office, industrial, multifamily and land 20,000,000 www.matrixcompanies.com Cranbury, 08512 Kenneth H. Griffin, Matrix Global Logistics Park, Staten Island; Matrix Corporate 1984 (732) 521-2900 | (609) 395-8289 Richard F.X. Johnson Campus, Monroe; CenterPoint at 8a

4 | 2 Greek Development 33 Cotters Lane Frank A. Greek, Elliot M. Kosoffsky, Industrial and land 16,000,000 www.greekdevelopment.com East Brunswick, 08816 Matt Schlindwein, Brett Mercer Logan North Industrial Park, Linden Logistics Center 1938 (732) 257-7353 | (732) 257-9647

5 | 4 Advance Realty 1420 Route 206, Suite 200 Peter J. Cocoziello, Kurt R. Padavano, Office, industrial, retail / restaurant, multifamily and land 15,000,000 www.advancere.com Bedminster, 07921 Alex Cocoziello, Dan Cocoziello New Jersey Center of Excellence, Bridgewater; Riverbend District, 1979 (908) 719-3000 | (908) 719-9444 Harrison; Linden Logistics Center, Linden

6 | 8 Levin Management 975 Route 22 W. William A. Farber, Office, industrial, retail / restaurant and land 10,594,185 www.levinmgt.com North Plainfield, 07060 Matthew K. Harding, St. Georges Crossing, Woodbridge; Somerset Shopping Center, 1952 (800) 488-0768 | (908) 755-7194 Robert Carson Bridgewater; North Village Shopping Center, North Brunswick

7 | NR Ironstate Development Co. 50 Washington St. David Barry, Michael Barry Retail / restaurant, multifamily and hotel 10,577,809 www.ironstate.net Hoboken, 07030 The Columbus Collection, Jersey City Urby, Harrison Station 1970 (201) 963-5200 | (201) 963-5020

8 | 6 KRE Group 520 Hwy. 22 E. Murray Kushner, Jonathan Kushner, Office, industrial and multifamily 10,500,000(*) www.thekregroup.com Bridgewater, 08807 Jeffrey Persky Journal Squared 2, Jersey City; 235 Grand St., Jersey City; Rose Hall, 1979 (908) 725-8100 | NA Madison

9 | 9 Whitesell 1 Underwood Court Thomas J. Heitzman Office, industrial and land 9,000,000 www.whitesellco.com Delran, 08075 The Haines Center, Laurel Creek Corporate Center, Cindel Business 1957 (856) 764-2600 | (856) 764-9240 Park

10 | 10 Bridge Development Partners LLC 1 Gatehall Drive, Suite 201 Jeff Milanaik, John Porcek, Industrial 8,600,000 www.bridgedev.com Parsippany, 07054 Deven Schmitt BridgePort II Perth Amboy, BridgePoint Somerset, I-78 Logistics 2014 (973) 998-9890 | (973) 998-9889 Park

11 | 11 Federal Business Centers Inc. 300 Raritan Center Parkway Anthony Rispoli Industrial 8,358,579 www.federalbusinesscenters.com Edison, 08837 NA 1938 (732) 225-2200 | (732) 225-0812

12 | 12 Fidelity Land Development Corp. 641 Shunpike Road Salvatore A. Davino, NA 7,214,211 www.fidelityland.com Chatham, 07928 Sandra Davino Niccolai, Watchung Square Mall, Watchung; Roxbury Mall, Succasunna 1978 (973) 966-2800 | (973) 966-6161 Al J. Tafro

13 | 14 Vision Real Estate Partners LLC Mountain Lakes Corporate Campus I Sam Morreale, Ross Chomik Office 6,711,000 www.visionrep.com 1 Bloomfield Ave. Latitude, 1776 on the Green, Warren Corporate Center 2014 Mountain Lakes, 07046 (973) 299-4000 | NA 14 | NR Lincoln Property Co. 9 Entin Road Michael A. Taylor, Mack Pogue, Office, retail / restaurant and other 6,500,000 www.lpc.com Parsippany, 07054 William Duval 9 Entin Road, Parsippany; Gatehall I, Parsippany; 80 Office Center, 1965 (973) 599-0050 | (973) 599-0051 Fairfield

15 | 15 Alfred Sanzari Enterprises 25 Main St., Suite 600 David Sanzari, Ben Sanzari, Office, industrial, retail / restaurant, multifamily and hotel 6,000,000 www.sanzari.com Hackensack, 07601 Ryan Sanzari NA 1945 (201) 342-2777 | NA

16 | 16 Murray Construction Co. Inc. 374 Millburn Ave., 4th Floor Douglas Friedrich, Michael Nachtome, Office, industrial and retail / restaurant 4,000,000 www.murrayconstruction.com Millburn, 07041 Brian D. Fitzsimons NA 1956 (973) 376-7650 | (973) 467-2964

16 | 16 SJP Properties 389 Interpace Parkway Steven J. Pozycki Office and multifamily 4,000,000(*) www.sjpproperties.com Parsippany, 07054 Waterfront Corporate Center, Somerset Corporate Center, 95 1983 (973) 299-9117 | (973) 299-9621 Greene St.

18 | 18 Sitar Realty Co. TCN Worldwide 1481 Oak Tree Road William Sitar Sr., Douglas Sitar, Office, retail / restaurant, hotel and land 3,614,566 www.sitarcompany.com Iselin, 08830 Bill Sitar, Helena Loelius NA 1978 (732) 293-9000 | (732) 283-3103

19 | 21 Prism Capital Partners LLC 200 Broadacres Drive Edwin H. Cohen, Eugene Diaz Office, industrial, retail / restaurant, multifamily, hotel and 3,401,503 www.prismpartners.net Bloomfield, 07003 special purpose 2002 (973) 562-9580 | (973) 562-9586 ON3, Clifton/Nutley; Edison Village, West Orange; Wonder Lofts, Hoboken 20 | 20 Woodmont Properties 100 Passaic Ave. Donald Witmondt, Eric N. Witmondt, Office, industrial, retail / restaurant, multifamily and hotel 3,254,461 www.woodmontproperties.com Fairfield, 07004 Lewis Zlotnick, Stephen Santola Woodmont Metro at Metuchen Station, Woodmont West at Mount 1963 (973) 316-9400 | (973) 316-5520 Arlington, Woodmont Cove at South Amboy

21 | 19 Mountain Development Corp. Three Garret Mountain Plaza, Suite 400 Michael Seeve, L. Robert Lieb Office, industrial and special purpose 3,200,000 www.mountaindevelopment.com Woodland Park, 07424 Garret Mountain (1,3 and 5); 56 Livingston Ave.; 19 and 21 Roszel 1979 (973) 279-9000 | (973) 279-3269 Road, West Windsor

22 | NR Adler Development 160 Raritan Center Parkway, Unit 20 Joshua Adler, Bernie Adler, Seth Adler Office, industrial, multifamily and land 3,100,000 www.adlerdev.com Edison, 08837 287 Industrial Park, Piscataway; 2270 Route 130, South Brunswick; 1963 (732) 225-5000 | (732) 225-5544 160 Raritan Center Parkway, Edison

23 | 22 Larken Associates 1250 Route 28 Victor Kelly Office, industrial, retail / restaurant, multifamily and special 2,620,054 www.larkenassociates.com Branchburg, 08876 purpose 1965 (908) 874-8686 | (908) 874-5438 Branchburg Centre, Raritan Valley Professional Center, Hillsborough Business Center 24 | 22 Elberon Development Group 633 Division St. Anne Evans Estabrook, Industrial 2,500,000 www.elberon.com Elizabeth, 07201 David H. Gibbons Jr., 500,000 sq. ft. of new leasing and renewal activity 1920 (908) 272-7555 | (908) 272-3458 Tony Pelosi

25 | 24 First Industrial Realty Trust 43 Route 46 E., Suite 701 Glenn Buie, John Hanlon, Industrial 2,192,411 www.firstindustrial.com Pine Brook, 07058 Ryan Brittain First Florence Logistics Center, Florence; Montville Business Center, 1994 (973) 227-6600 | (973) 227-9198 Pine Brook; First Park at Central Crossing - Building III, Bordentown

Source: The companies. (*) 2018 information, requests for 2019 data were not returned prior to press deadline. 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.

www.njbiz.com NJBIZ February 18, 2019 23 BANKRUPTCIES NEW BUSINESS Bob Barnes Enterprises Steven Isaacs PC, 26 Bergenline Dental Spa Commercial and Resi- New Beginnings Pre- Harshiitha Construc- LLP, 258 Main St., John- Ferry St., Newark, 07105; PC, 6700 Bergenline dential Cleaning by Luz school LLC, 1605 Spring- tion LLC, 642 Broad St., Robert Cassetta Authorized I Am Stuffed LLP, 261 sonburg, 07825; Contact: Contact: Steven Isaacs Guzman LLC, 314 Newark field Ave., Maplewood, Clifton, 07013; Contact: Distributor of Matco Tools, Rutledge Ave., East Ave., West New York, Robert Barnes Ave. Apt. 11, Bradley 07040; Contact: New Spiegel & Utrera PA 17 Stone Ridge Lane, Ho Orange, 07017; Contact: Treestone Architecture 07093; Contact: Marjan Beach, 07720; Contact: Ho Kus, 07423; Industry: Katrina Dansby Forza Forenza LLP, 2115 PC, 226 Mahwah Road, Kermanshah Beginnings Preschool Idyll Endeavors LLC, 3 Luz Guzman Juarez Distribution; Adviser: Law Of- Route 88, Brick, 08724; Mahwah, 07430; Contact: Pine Tree Drive, Westamp- D & Kolias LLP, 536 44th GF GI Media Group LLC, Arkitektura Consult- fices of Aileen Perez; Court: Contact: Giuseppe Illiano Christopher Papaleo Castillos Family Restau- ton, 08060; Contact: St. Apt. 1, Union City, ing LLC, Five Greentree Newark; Chapter 7; Case 100 Old Palisade Road rant LLC, 1200 S. Clinton Steven Mongiardo 07087; Contact: Elkin BNK Clothing LLP, Five Fleischner Medical Centre Suite 104, Marlton, Number: 19-11774-VFP Unit 1810, Fort Lee, Ave., Trenton, 08611; Radius Realty Group Restrepo Arrubla Greentree Centre Suite Services PC, 21 Main St. 08053; Contact: Regis- 07024; Contact: Vladislav Contact: Francisco Rojas LLC, 488 W. Meadow Ave., Fortune Transportation 104, Marlton, 08053; Suite 158, Hackensack, tered Agents Inc. Ltd., 19 E. Afton Ave., S and C Cummings Home 07601; Contact: Rivkin Yudin Romero Rahway, 07065; Contact: Contact: Registered GM Foods LLC, 368 Princ- Yardley, PA 19067; Industry: Improvement LLP, 6318 Radler LLP JPSL Rentals LLC, 213 E. Jon Carlo Cascio Agents Inc. 800 Rt. 70 LLC, 808 S. eton Ave., Hillside, 07205; Transportation; Adviser: Irving Ave., Pennsauken, Coulter Ave., Colling- Principal Anesthesia Pro- Lake Drive, Lakewood, Natural Zen LLC, 609A Pro se; Court: Trenton; 08109; Contact: Steve Innovation Financial swood, 08108; Contact: Contact: Jozuezer Muniz Beverly Rancocas Road, viders PC, 51 Collinwood 08701; Contact: Daniel Chapter 11; Case Number: Cummings Services LLP, 380 New Willingboro, 08046; Ave., Livingston, 07039; Santini Lancioni Edgewater Management 19-12049-KCF Brunswick Ave., Perth Czermak Contact: Seana Howard Botonde LLP, 108 Contact: Michael Cianci Shawn Omans Consulting Partners LLC, 5 Horizon Amboy, 08861; Contact: Bath & Kitchen Distributors Caldwell Road, Barnegat, Vilanova Realty LLC, LLC, 4 Sweet Gum Court, Road #2303, Fort Lee, 4 U Nail & Spa LLC, 281 Escarling Martinez Heydoctor Medical Group Corp., 200 Helen St., South 08005; Contact: Richard 45 Bleeker St., Newark, 07024; Contact: Simon Bloomfield Ave., Verona, NJ PC, 820 Bear Tavern Medford, 08055; Contact: Plainfield, 07080; Industry: Bogath KCS Trucking LLP, 408 07105; Contact: Sean Shawn Omans Wei Wu 07044; Contact: Kwang- Distribution; Adviser: Middle- Road, West Trenton, NJ Sudz LLP, 318 Stiles Abbi Road, Carteret, McGovern sook Kim brooks Shapiro PC; Court: 08628; Contact: The Sndktransport LLC, 405 North End Pictures LLC, St., Elizabeth, 07208; 07008; Contact: Charanjit 5 Spirits Transport LLC, Trenton; Chapter 11; Case Corporation Trust Co. Tony’s Hardscaping and Elizabeth Ave., Elizabeth, 600 Union Ave., Elizabeth, Contact: Michelangelo Singh 500 Route 17, Hasbrouck Number: 19-12212-CMG 07206; Contact: Steven 07208; Contact: William SMU NJ PC, 492C Cedar Landscaping LLC, 412 Heights, 07604; Contact: Gonzalez The Stone Shop NJ LLP, Gonzalez Nunez Thombos International Co. Lane, Teaneck, 07666; Pfister Road, Jackson, Madan Gopal Grover Vitacare Technologies 101 Franklin St., Little Inc., 350 Fries Mill Road, Contact: Nicholas Bastidas 08527; Contact: Antonio HH Paramus LLC, 24 Quatro Solutions LLC, 66 LLP, 903 Garden St., Ferry, 07643; Contact: Shelley Road, Kendall Northwest Intermodal Sewell, 08080; Industry: Rhythm Urgent Care Castellanos Rodriguez Elmwood Terrace, West Hoboken, 07030; Contact: Frank Santiago Park, 08824; Contact: Ian LLC, 970 New Brunswick Business services; Adviser: Center PC, 246 State Caldwell, 07006; Contact: Ave. Suite B, Rahway, Melanie Kohler Love Me More LP, 9 Con- Shellback Travel and Scherzer Roach & Leite LLC; Court: Route 34, Matawan, Kevin Kelly 07065; Contact: Gurpreet Camden; Chapter 7; Case Nonna Vita Trattoria LLP, mack Lane, Manalapan, 07747; Contact: Vijayku- Tourism LLC, 140 Cleve- Angely’s Cleaning & Maxx to the Limit Kaur Number: 19-12240-JNP 10 Vernon Ave., Hamburg, 07726; Contact: Brett mar Patel land Ave., Colonia, 07067; Services LLC, 347 Bel- LLC, 749 N. Broad St., Supreme Detailing Ser- 07419; Contact: Giuseppe Spillman Contact: Sherie Coley leville Ave., Bloomfield, MERGERS U Physical Therapy PC, Elizabeth, 07208; Contact: vices LLC, 479 S. Fir Ave., Buffa Lark Properties LP, 317 07003; Contact: Giovanna & ACQUISITIONS 1266 Clifton Ave., Clifton, Sabii LLC, 206-16 W. Razia Javaid Galloway, 08205; Contact: Salvador 443 Ellison Street LLP, W. Elmer Road, Vineland, 07012; Contact: Francis Willi Orlando Sierra Varden Capital Shearwater Court, Jersey 495 River St., Paterson, 08360; Contact: Ethan Dompor Creative Friend LLC, 207 DBInsight LLC, 34 Burnett Properties-Apt., Seller/ City, 07305; Contact: Bread and Butter 07524; Contact: Bascom Byler Red Lion Road, South- Terrace, Maplewood, Target: The Walden Group; Dr. Ramy Attalla DMD Imran Haque Hospitality Group LLC, Corp. ampton, 08088; Contact: 07040; Contact: Tony Baer Date: Feb-05-2019; Alan Properties LP, 534 PC, 330 Changebridge 211 Bayberry Drive Suite GE Real Estate Consult- Florinda Friend Price: 106.7; Percent: M&G Property Invest- Monmouth Road, Wright- Road Suite 101, Pine New Innovation Proper- 2A, Cape May Court House, 100%; Type: Lessors of ments LLP, 141 3rd Ave., stown, 08562; Contact: Brook, 07058; Contact: ing LLC, 21 Collage Lane, S Booth LLC, 603 Bloom- ties LLC, 524 Royal Ave., 08210; Contact: Andrew residential buildings and Roebling, 08554; Contact: New Jersey Residential United States Corporation Cherry Hill, 08003; Con- field Ave., Verona, 07044; Camden, 08501; Contact: Catanese dwellings Douglas Bates Review Law PC Agents Inc. tact: Gregory Englesbe Contact: Anita Finkel Stephanie Dixon Continued on page 25

SICAM jet fusion process is 30 or 60 times ly expensive.” CONTINUED FROM PAGE 13 faster than traditional 3D printing. SICAM offers clients a full range Instead of taking one hour and 20 of rapid product development servic- Options beyond prototyping in- minutes to do one gear, you can do es from concept through production. clude molding and thermal forming, 950 gears in less than 24 hours.” “Up to this point in time if some- Hassold said. Three-dimensional printing is body wanted to make a part, they “Assuming the material that you a small part of New Jersey’s manu- had to design it for that technology,” can print on the printer is the right facturing industry, Hassold said, be- Campbell said. “If it was injection material for your end use and as- cause the process has not been viable molding, it puts constraints on the suming your properties are good for production at scale. design engineer of what he wants to enough off the 3D printer, it is a vi- John Kennedy, CEO and presi- design. The advantage of 3D printing able technology for manufacturing dent of the nonprofit New Jersey is you do not have design constric- end-use parts,” Hassold said. “The Manufacturing Extension Program, tions.” question is where is that cross-point said that 3-D printing is evolving “Now that additive manufactur- where it makes sense to use 3D quickly, but many of the firms using ing is viable, the next phase is called printing to do that versus traditional the technology in New Jersey are still design for additive manufacturing,” technology.” focused on what is called fast pro- Campbell said. “You can design stuff Until HP developed the multi- totyping, which is used to create a that you cannot make any other way.” jet fusion machine, manufacturing three-dimensional model of a part or Pete Sayki, vice president of companies could not justify spend- product. sales and marketing at SICAM, said ing money on 3D printing on mass Rapid prototyping can be used to the multi-jet fusion machine is bet- quantities of production, Hassold test the efficiency of a part or product ter than injection-molding methods said, citing high costs and a slow design before it is manufactured in because it is more cost-effective. In- process. The HP multi-jet fusion ma- larger quantities. jection molding is a slow process by chine is at least 30 times faster than Other companies like SICAM design and it is costly. other machines, he said. have invested considerable time and “The multi-jet makes 100 parts “If you have a machine where it money to upgrade their equipment in two days and the cost is way low,” is going to take one hour and 20 min- and processes, Kennedy said. Cur- Sayki said. “Multi-jet technology is a utes to print one gear and you need rently, SICAM is in the minority, but game-changing technology in our in- to print 10,000 gears, 3D printing is that is changing. dustry because it can make 100 parts not a viable technology unless you Companies have been using 3D fast. And you do not need the $40,000 have a dozen of these printers,” Has- printing to build metal parts with a mold.” Peter Sayki, vice president sales and marketing at SICAM. sold said. “However, the [HP] multi- process Campbell calls “prohibitive- Email: [email protected]. - AARON HOUSTON

24 February 18, 2019 NJBIZ www.njbiz.com DEALS ROUNDUP

GBT General Service LLC, 37-9 Ave. East Orange Michael Auto Repair LLC, J Connell APN LLC, 5 Hid- Outcast Designs LLC, 248 Veliz Painting LLC, 200 True Property Invest- 8 Elephants Productions 45 S. Park Place, Mor- LLC, 20 Clifford St. 1st 40 S. Olden Ave., Trenton, den Valley Road, Newton, Hawaii Drive, Brick, 08723; S. 3rd St. Apt. 1, Harrison, ments & Construction LLC, 591 Summit Ave., ristown, 07960; Contact: Floor, East Orange, 07018; 08609; Contact: Anthony 07860; Contact: Judith Contact: Christopher Allfrey 07029; Contact: Elizabeth LLC, Five Greentree Centre Jersey City, 07306; Contact: Brown Blevis Suite 104, Marlton, 08053; Khoa Le Willian Santos De Sousa Contact: Manuel Arias Connell Francos Tree Service LLC, Contact: Registered Agents 19th Street Paterson Grove Square JC LLC, 116 Cigar Haven LLC, 22 312 S. Black Horse Pike, Eats Pizza LLC, 228 Sum- After Hour Truck Repair Charmkor LLC, 468 Com- Inc. 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North Brunswick, 08902; 07302; Contact: Frederick Gabbay Aqua Water Solution LLC, Ki Tov Baker Street LLC, Kristine Liong 5306 Buttonwood Court, Antonia Ruiz-Gil Jaipur Loft LLC, 8 Boyer Contact: Luis Cesar Bello Macadam Smith NG Emergency Associates 500 Frank W. Burr Blvd. Capital Consortium LLC, 4 Monmouth Junction, 08852; Hapi Retail LLC, 54 Drive, Bridgewater, 08807; Perez Advanced Finishing LLC, LLC, 69 Montgomery St. Suite 47, Teaneck, 07666; S. Orange Ave. #508, South Contact: William Martinez Stuyvensant Ave., Jersey Contact: Manisha Chilka 1203 Route 9 S., Wood- #3581, Jersey City, 07303; Contact: Azriel Mandel Black Widow Metal Works Orange, 07079; Contact: City, 07306; Contact: bridge, 07095; Contact: W. 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Contact: Richard Kester Pressed4Juice LLC, 141 Roosevelt Ave., Toms River, Contact: Rivka Fischer Mark Miller Goffle Creamery LLC, 686 Fewl Real Estate LLC, 13 Forever Media of NJ LLC, Eyelusioin Beauty 08753; Contact: John David South Ave., Fanwood, Goffle Road, Hawthorne, Bentley & Lo LLC, 1204 Deleon Development LLC, Undercliff Terrace, West 820 Bear Tavern Road, West Boutique LLC, 192 Central 07023; Contact: Tamara Moss 07506; Contact: Vincent Ramblewood Drive, 15 Main St., Flemington, Orange, 07052; Contact: Trenton, 08628; Contact: Ave., East Orange, 07018; Standford Coleman Investment Penna Vineland, 08360; Contact: 08822; Contact: Renee Rabiyyah Sharif The Corporation Trust Co. Contact: Christine Molokwu Lauren Fabbri Biribin Moda Education Liaison Management LLC, 290 S & B Summerhill LLC, 22 445 Grove Street LLC, 16 A Slice of Ky Baked Goods Quicksstore LLC, 161 Studio LLC, 648 Prospect W. 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MORE INFORMATION Mergers & Acquisitions data were supplied by Refinitiv. and major shareholders. These data were compiled by StockReports+ from Refinitiv and are listed in order of transaction Bankruptcies are obtained from federal courthouse records available on Public Access to Court Electronic Records, value. or PACER. Listings are organized by the office in which they were filed. New Businesses include businesses that have moved to New Jersey or opened a new office in the state. The information Insider Trading reports on the stock transactions reported to the Securities and Exchange Commission by officers, directors was supplied by the state Treasury’s Division of Revenue. REGISTER CYBER NOW! SECURITY www.njbiz.com/events A PANEL DISCUSSION PRESENTED BY T T H S Please join NJBIZ as we host a panel of experts Mike Geraghty, Director of Cybersecurity and State Chief Information that will explore these topics and many more: Security O cer, New Jersey Cybersecurity and Communications • Understanding the Role of Cybersecurity Integration Cell (NJCCIC) • Rise of Cyber Crime • Back-up and Recovery Planning P • Data Privacy - Who is responsible for keeping data safe Robert Egan, Owner, Archer & Greiner, PC • Damages/Costs resulting from Data Breach Carl Mazzanti, Founder and President, eMazzanti Technologies Carl Scalzo, CEO & Founder, Online Computers To register for this and other NJBIZ events please visit www.njbiz.com/events. John Wolak, Co-Leader, Privacy & Data Security Team, Gibbons P.C. O cial a/v sponsor: Sponsors av.com

www.njbiz.com NJBIZ February 18, 2019 25 PIC PAGE

Rutherford-based 16W Marketing held its annual 16W Marketing Super Bowl Get Together on Jan. 31 at Tavernpointe in Atlanta, Ga. From left, Steve Rosener and Frank Vuono, partners at 16W Marketing; Fred Fried, On Jan. 10, The Kislak Co. held its annual award ceremony during which sales awards were announced for principal, Team Services; David Levy, president, Turner Broadcasting; David Baker, president, Pro Football Hall Executive Vice President Joni Sweetwood, Vice President Justin Lupo and Executive Vice President Peter Wis- of Fame; Bob Papa, NY Giants Radio; Mark LaNeve, vice president, U.S. Marketing, Ford Motor Co.; and Jon niewski. Pictured at the event, from left, Sima Kislak Jelin Salesperson of the Year winner Lupo, Producer of the Miller, president of programming, NBC Sports. - SAMMY STEINLIGHT Year winner Sweetwood and Transactions award winner Peter Wisniewski.

The New Jersey Food Council held its Annual Membership Meeting on Jan. 29 at Forsgate Country Club in Monroe Township, marking the start of its 2019 Schedule of Events and the kick-off to the NJFC Scholarship Program. At the meeting former New Jersey Gov. Don DiFrancesco, center, swore in the Council’s 2019 board U.S. Rep. Josh Gottheimer, D-5th District, celebrates the grand opening of Hackensack Brewing Co. in Hacken- officers, including Chair Richard Saker of Saker Shoprites; Vice Chair Mike Murphy of QuickChek Corp.; Treasurer sack. From left, Hackensack Deputy Mayor David Sims, Gottheimer, Hackensack Mayor John Labrosse, Hacken- Mike Rothwell of Pennington Quality Market; Secretary Joe Sofia of Wegmans Food Markets; Associate Vice sack Deputy Mayor Kathleen Canestrino, Hackensack Brewing Owner Mike Jones and his team cut the ribbon at Chair Mike Biase of Mission Foods; and NJFC President Linda Doherty. the city’s second brewery.

The NJBIZ Healthcare Heroes awards program honors both individuals and organizations that are making a significant impact to maintain the quality of health care in New Jersey during these transformative times. 2019

CALLING ALL HEROES

NOMINATION DEADLINE: FRIDAY, MARCH 29 For more information or to complete a nomination, visit www.njbiz.com/events Questions? Contact Anna Acquaviva at [email protected] or 732-246-5713.

Categories of Recognition: • Career Achievement • Physician of the Year • Education Hero • Public Health Hero • Innovation Hero • Volunteer of the Year • Nurse of the Year • Workplace Wellness Hero

Sponsorship Opportunities Available! Contact Ken Kiczales [email protected] or call at 732-246-5729

26 February 18, 2019 NJBIZ www.njbiz.com CLOSING ENTRY Nurturing the nest egg How nonprofit organizations can optimize growth opportunities for their endowments

in your nonprofit’s endowment portfolio to companies BY JAMES SONNEBORN AND LESLEY DRAPER that are skilled at marketing their positive contribu- nonprofit’s endowment is the financial bedrock You can use ‘impact investing’ to tions, you may miss out on some important choices. of the organization, making it a critical tool in You should contact a Wealth Advisor who can help building long-term stability and essential in leverage your finances in a way that A your organization make well-rounded investment deci- easing operational ups and downs. The importance will make a social difference. sions that still meet your impact-investing criteria. of this nest egg is twofold, First, it is designed provide cash on hand to hedge against uncertainty, such James Sonneborn is a partner and wealth advisor at as dips in donations year-over-year or even to cover Regent Atlantic. Lesley Draper is a wealth advisor at the unexpected program opportunities that might crop up. firm. Second, it signals to potential donors and the commu- portfolio to the next. Diversification of risk is a sound IMPORTANT DISCLOSURE INFORMATION nity that the organization is established and plans to be practice for any investor — personal or institutional. Please remember that different types of investments involve around for years to come. varying degrees of risk, including the loss of money invested. Educate yourself about key nonprofit principles. While there’s no hard and fast amount that non- Past performance may not be indicative of future results. Understanding your nonprofit’s specific needs, goals, profits must have in their cash reserves to be considered Therefore, it should not be assumed that future performance and resources will help you serve as a more effective an endowment, it’s generally a good rule of thumb to of any specific investment or investment strategy, including CEO, CFO or investment committee member. Some have at least twice the amount of your annual operat- the investments or investment strategies recommended or things to consider include the ways in which your tax ing expenses in this fund. So, once an endowment is es- undertaken by RegentAtlantic Capital, LLC (“RegentAtlantic”) exemption might give you financial flexibility, how to tablished, the important task becomes optimizing this will be profitable. Please remember to contact RegentAtlantic balance your organization’s long-term growth against asset to expand the organization’s nest egg and ensure if there are any changes in your personal or financial situation its short term income needs, the importance of a well- future growth. or investment objectives for the purpose of reviewing our pre- documented investment, policy statements and spend- vious recommendations and services, or if you wish to impose, Fortunately, there are some useful planning and in- ing policies, as well as understanding your fiduciary re- vestment strategies that CEOs, CFOs, and those on the add, or modify any reasonable restrictions to our investment sponsibilities and regulatory requirements. management services. A copy of our current written disclo- nonprofit’s investment committee can consider when Consider using impact investing to help grow your sure statement discussing our advisory services and fees is managing their organization’s investment endowment endowment nest egg. As a nonprofit, you are commu- available for your review upon request. This article is not a and finances. nity focused and want to align your investments with substitute for personalized advice from RegentAtlantic. This Manage your nonprofit endowment like your your organization’s values. You can actually use your article is current only as of the date on which it was sent. The “family finances.” Like any family, most nonprofits seek nonprofit’s investment nest egg — along with a strategy statements and opinions expressed are, however, subject to to balance short-term cash-flow needs with long-term called “impact investing” — to leverage your finances change without notice based on market and other conditions goals. Thus many of the same, thoughtful principles you in a way that will make a social difference. Impact in- and may differ from opinions expressed in other businesses already apply in your investment account will apply to vesting includes screening out “negative” companies, as and activities of RegentAtlantic. Descriptions of RegentAt- your nonprofit’s endowment. For instance, the most well as actively seeking out “positive” ones that adhere lantic’s process and strategies are based on general practice critical decision for any investor is the split between in- to environmental, social and governance (ESG) stan- and we may make exceptions in specific cases. RegentAtlantic vesting for growth versus investing for safety and cash dards. This evolution has created a much more robust does not provide legal or tax advice. Please consult with a flow. Studies have shown that this decision explains set of options for implementing your organization’s im- legal and or tax professional of your choosing prior to imple- over 90 percent of the difference in results from one pact investment plan. If you rigidly limit investments menting any of the strategies discussed in this article.

Letter to the editor Time to tackle the opioid epidemic

To the editor: ing those who are suffering from opioid addiction to use abusers and dependent on it for a stimulus. Medical mari- medical cannabis is blessing them with a second chance juana is used to reduce “pain” and will not consistently s a sister of someone who is in recovery from at life. We must consider opening up more rehabilitation opioid addiction, I am writing in response to An- eliminate the opioid craving. We must continue to do sci- centers in the state, with strict guidelines, where medical thony Vecchione’s article, “Governor announces entific research on how this epidemic started and what A cannabis is available for drug abusers. We must educate new initiatives to combat opioid epidemic.” triggers the dependency and what counters it. Could do- our policymakers on this disorder and better our knowl- The opioid epidemic has taken over the tri-state area ing what we need to lessen the severity of the withdrawal edge of how to help those who are addicted to opioids. If symptoms be a gateway to another dependency? like a swarm of bees. In the first weeks of 2019, there have we do not take action and grant opioid-abusers an outlet, This disease has taken the lives of thousands of Ameri- been suspected 100 deaths in New Jersey alone. The ques- the death count will increase each minute that goes by. cans. It could affect your friends, family or co-workers. We tion is who is taking action to lower this number to 0? While I have no objection to allowing medical mari- must find the right method to stop this deadly epidemic. On Jan. 23 New Jersey Health Commissioner Dr. Sher- juana to be recommended for patients, I do object to how eef Elnahal announced that physicians can now recom- much they are receiving. Though people believe cannabis Elizabeth Juliano mend medical marijuana to patients. I believe that allow- is not addictive, it is to those who are already substance Allentown, Pa. www.njbiz.com NJBIZ February 18, 2019 27 Gig-speed to more businesses Nope. Yes. in more places

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