South Jersey BIZ - Issue #1 (January 2020)

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SJBiz_RealEstateRoundUp_1_20_RealEstateRoundup 2 / 6 / 20 8 : 46 AM Page 1 Vantage Real Estate Services represented the following businesses in recent transac - tions : • Prime Capital Management Advisors with their relocation to Four Greentree Centre , located at 601 Route 73 N . in Marlton Four Greentree Centre Strategic Funding Alternatives , LLC , ac - Center , and the buyer , Wynwood Medical , Eastampton Place West quired of the 73,868 - square - foot Class A LLC , in the sale of a 7,132 - square - foot space office building at 1025 Laurel Oak Road in at 1701 Wynwood Drive in Cinnaminson • Total Hair and Beauty Supply with a long - Voorhees . It is the former headquarters of term lease within Eastampton Place West , American Water Company . located in Easthampton Colliers International announced the sale of 1 Warner Court in Logan Township — a 151,600 - square - foot industrial building on 14.09 acres in the Pureland Industrial Com - plex . CBRE represented Modell’s Sporting Goods in the lease of a 312,373 - square - foot space 1701 Wynwood Drive in Bordentown . The Pavilions at Greentree • Allstate’s Domenick Group with a lease at The Pavilions at Greentree in Marlton Wolf Commercial Real Estate represented the following businesses in recent transac - tions : • Paziena & Softly Business Venture LLC in the leasing of 9,200 square - foot flex space at 341 New Albany Road in Moorestown Bridgeboro Shopping Center • JJN Real Estate Holdings LLC in the leasing 125 Gaither Drive • University Building & Construction , Inc . in and market of medical office space at the purchase of Bridgeboro Shopping Cen - 1945 Route 70 E . in Cherry Hill . The ter , a 23,228 - square - foot multi - tenant strip 12,579 - square - foot medical office will be center located at 80 - 88 Hartford Road in occupied bt Virtua Medical Group PA Moorestown • Bluestone Group LLC in the sale of an ap - proximately 14,500 - square - foot property NAI Mertz recently completed the sale of located at 1889 S . Lincoln Ave . in Vineland . East Gate Business Center , a 116,000 - square - The property sits on 7.64 acres with addi - Strategic Funding Alternatives , LLC , ac - foot office and flex complex located at 125 tional land for future development quired the eight - building East Gate Business East Gate in Mount Laurel . The buyer was Center located at 125 - 139 Gaither Drive in Strategic Funding Alternatives LLC . Rose Commercial Real Estate represented Mount Laurel . The property sits on nine Additionally , NAI Mertz represented FDI the following businesses in recent transac - acres with a combined 115,733 square feet Trading in the $ 1.45 million sale of 6805 tions : of office / flex space . Delilah Road in Egg Harbor Township . • The seller , Cinnaminsion Dental Medical SouthJerseyBiz.net | VOLUME 10 ISSUE 1 | SOUTH JERSEY BIZ | 43

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SJBiz_BizinBrief_1_20_BizinBrief 1 / 20 / 20 6 : 08 PM Page 1 bizINbriefB U S I N E S S N E W S F R O M A R O U N D S O U T H J E R S E Y Used Car Lemon Law and the Used Car sey locations will close , including the Lemon Law Regulations . Cherry Hill location on Haddonfield Road . Earlier this month , Gov . Phil Murphy The New Jersey Department of Labor Edited by Julie Shannon signed into law legislation which will add and Workforce Development awarded manufacturers to the list of prioritized em - more than $ 1.1 million to 14 libraries ployers in the existing Workforce Devel - throughout the state through the Commu - Heating and cooling company Ben’s opment Partnership Program to supply nity Library Adult Literacy and Career ProServ has merged with Dennis DeAn - the industry with more skilled workers . Pathway program to expand adult literacy gelo Plumbing , Heating & Cooling . This Additionally , Gov . Murphy also signed services . The South Jersey libraries that re - will allow both companies to provide resi - Assembly Bill 5802 — which appropriates ceived funds are : dential and commercial energy services to $ 9.5 million to the New Jersey Depart - • Atlantic City Free Library — $ 94,600 Gloucester and Salem County residents . ment of Health for family planning servic - • Gloucester County Library System — es . This legislation will replace federal $ 101,200 Campbell Soup Co . has completed its funding for family planning services that • Millville Public Library — $ 55,000 sale of Arnott’s , an Australian snacks unit , are impacted by the Trump Administra - to KKR for approximately $ 2.2 billion . tion’s implementation of the Title X gag Casinos in Atlantic City made $ 3.3 billion , rule , which limits access to health care and in 2019 — the first time since 2012 the casi - Two Houlihan’s locations in New Jersey — asbrouck Heights and Woodbridge — family planning resources . nos made more than $ 3 billion , before the H closed their doors on Dec . 29 . The Cherry city saw the closure of five casinos . Hill location remains open . Camden County College and Rutgers University - Camden have formed a new OceanFirst Bank has completed its acqui - On Jan . 1 , New Jersey’s minimum wage dual admission agreement and bachelor’s sitions with Two River Community Bank increased to $ 11 per hour . This follows degree program — Premier Partnership . In and Country Bank , which are now a part of Gov . Phil Murphy signing a law last Febru - this partnership , residents of Camden OceanFirst Financial Corp . The mergers ary that will incrementally increase the County and South Jersey will have the op - are valued at approximately $ 309.8 mil - minimum wage to $ 15 per hour by 2024 portunity to earn both a Camden County lion . for most workers . College associate degree and Rutgers baccalaureate degree on the Blackwood Moody’s has boosted Atlantic City’s credit Rutgers University - Camden will receive a and Rutgers - Camden campus . from B2 to Ba3 . $ 250,000 gift from Nancy Shuman to es - tablish the Nancy Seagrave Shuman En - Students at Stockton University will have The Casino Reinvestment Development dowment for Childhood Studies . the opportunity to study abroad under Authority recently approved spending up two new agreements with National Chiayi to $ 1.8 million to restore portions of the Bed Bath & Beyond is closing two New University ( NCYU ) and National Taichung façade on Jim Whelan Boardwalk Hall . Jersey stores , including the Sewell loca - University of Education ( NTCU ) in Taiwan . The project is slated to start in March . tion at 141 Tuckahoe Road . The agreement with NCYU provides for up to three Stockton MBA students to attend The New Jersey Board of Public Utilities Nine members from Flaster Greenberg NCYU and three graduate business stu - ( NJBPU ) approved applications earlier PC — six partners , one associate and three dents from NCYU to attend Stockton each this month for first - year participants in its staff members — have left the firm and year . Students taking between nine and 15 Community Solar Energy Pilot Program . formed a new firm , Lex Nova Law LLC . Its credits at the visiting institution are eligi - The NJBPU reserved 40 percent of the new office is located in the same building ble for a dual degree from both institu - program’s scope for projects in which at as Flaster Greenberg in Cherry Hill . tions . least 51 percent of the capacity serves low - to moderate - income communities . A.C . Moore is laying off nearly 500 em - As of Jan . 1 , the Associated Construction ployees . This comes after they announced Contractors of New Jersey and the Cooper University Health Care has pur - in November they are shuttering all of its Building Contractors Association of chased a 102,000 - square - foot - property stores . South Jersey merged . across from Cooper University Hospital for $ 16 million . Royal Auto Group Inc . has agreed to pay Alloy Silverstein Accounts and Advisors more than $ 58,000 in penalties to resolve has been named one of America’s Best Lidl , a European discount supermarket , is consumer complaints , according to the Di - Tax and Accounting Firms by Forbes . under construction in Burlington Town - vision of Consumer Affairs . Royal allegedly ship . It is among six Lidl’s planned for committed multiple violations of the New Pier 1 Imports plans to close up to 450 lo - South Jersey . Jersey Consumer Fraud Act , the Motor cations — almost half of its stores in the Vehicle Advertising Regulations , the Auto - U.S . , due to lack of foot traffic and heavy continued from page 47 motive Sales Practices Regulations , the decrease in profits . Eleven of its New Jer - 44 | SOUTH JERSEY BIZ | VOLUME 10 ISSUE 1 | SouthJerseyBiz.net

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