Steve Carroll represented the buyer, 1228 Bethlehem Pike Associates LLC, in the purchase of an 8,076 industrial building in Sellersville, Bucks County PA. Building features include approximately 2200 SF of office space and 5876 SF warehouse space with 5 drive in doors, all situate on 3.83 acres.

Steve has 20 years experience serving commercial/industrial clients encompassing the Philadelphia region through Northeast PA.

Wednesday, November 16th @ 8 AM

Rock Creek Corporate Center
1444 E. Lackawanna Avenue
Olyphant

Mike Detter, SIOR, Hinerfeld Commercial Real Estate will be the featured speaker.

Marilee Barone

Name: Marilee Barone

Residence: Dunmore

Family: Husband Jeff; Children, Marisa, John and Caroline

Professional background: Associate with Hinerfeld Commercial Real Estate

Title: Co-chairwoman of the Lourdesmont Dream Vacation and a Lourdesmont board member

Q: Tell us about the fundraiser. How did the idea for the reception come about?

A: This event is Lourdesmont’s main annual fundraiser. Every year, we come up with a new destination for which the reception is themed. This year, our destination is Australia and the theme is “Win A Divine Dream Vacation Down Under.”

Q: What can attendees expect?

A: The evening starts with a welcome from our emcee, Brenda Bistocchi, and a cash bar. Raffle tickets are sold and appetizers and light fare are offered to the guests.

Q: Why is this reception important?

A: This reception is so important because it allows Lourdesmont to meet and express our gratitude to our supporters for their participation in our mission to assist children, youth and their families. We also want them to have a great time.

Q: How exactly will the proceeds be used?

A: Lourdesmont provides seven behavioral health services for children, youth and families, all of which are community based. That means services are delivered in homes, in schools and in neighborhoods. A continuum of community services offers treatment and supportive programs in local intermediate and high schools, in homes during traditional and nontraditional hours, in enhancing parenting skills, and in providing substance-abuse counseling. Community-based services also allow recipients to continue to take advantage of natural support systems of family and community while receiving the help they need.

Q: How many attendees do you expect?

A: We always hope to sell 500 tickets; however, you do not have to be present to win. We expect about 200 people.

Q: What kind of prizes will be given at the reception?

A: The main event prize of the trip to Australia or $10,000. There also will be raffle baskets, including dine-around baskets, jewelry, food, sporting events, etc

If you go

What: Lourdesmont’s Dream Vacation “Win A Divine Dream Vacation Down Under”

When: Wednesday at 7 p.m.

Where: Amici Restaurant, Clarks Summit

Details: Tickets are $100 each which include entrance for two to the reception, food, prizes and the chance to win the Dream Vacation. Call Sister Terri Jordan of Lourdesmont at 702-8360 or go online at: lourdesmontcontest.com.

Real Estate Round Up with John Cognetti – September 17, 2011

John Cognetti speaks on Real estate Round Up September 17, 2011

Inductees and guests gather at the Northeast Pennsylvania Sports Hall of Fame induction at the University is Scranton’s Denaples Center on Sunday. First row, from left: Sharon Swift, Koncetta Toman, Kristen Hricenak, Joe “King Joe” Amendolaro, Marilee Bamford Barone and Liz Naughton. Second row: Bob Walsh, President of NEPA Sports hall of Fame; Jerry Coyne, Gerry McNamara, Steve Hricenak, Frank Dermody, Jack Kelly and John McCormick, state vice president of the Northern Region.

Ted Morandin
(410) 349 9002
Your ITPN broker is your local choice for industrial transportation real estate solutions across North America. To view ITPN broker listings, receive Morprop research or to learn more about how Morprop and the ITPN work together, click below.

OLYPHANT – A New England truck parts remanufacturer opened a facility in the Midvalley that will employ 10 people within a year.

The Enfield, Conn.-based Camerota Truck Parts leased 5,016 square feet of space at 1155 Mid Valley Drive, a building operated by Mericle Commercial Real Estate Services. The Northeast Pennsylvania presence is the eighth branch for the company that remanufactures truck drive-trains.

Camerota officials have been looking to the Scranton area as an expansion opportunity for a long time, said Jacki Tamayo, human resources director for the company. Its closest branch is in Trenton, N.J.

“The truck traffic in that area is phenomenal,” she said. “We wanted to be in the Scranton area for a long time and are very happy.”

The company provides its remanufactured drive trains and differentials to independent repair shops and fleet operators of trucks of all sizes. Through its branches, it offers delivery and customer support.

Jim Hilsher, vice president at Mericle, coordinated the lease with Ellen Ranieri of Hinerfeld Commercial Realty, who represented Camerota.

Mr. Hilsher said Camerota will be the sixth tenant in the 60,000-square-foot building, which Mericle built in 2000.

Camerota is a family-owned business founded in 1960. The company employs 180 in its factory and eight branches.

This year, the Automotive Parts Remanufacturers Association named Camerota the heavy duty remanufacturer of the year.

Shawna, one of the beneficiaries of the new St. Joseph's Center Adult Day facility in Luzerne County, is pictured during the program's dedication ceremonies held this spring. She is surrounded by, from left, Marilee Bamford-Barone, Jennifer Mackey, Donna Wilce, Immaculate Heart of Mary Sister Maryalice Jacquinot, and John Cognetti. Last summer, St. Joseph's made the decision to expand Adult Day services the Wilkes-Barre area to meet the needs of individuals residing in Luzerne County.

Shown above during the recent dedication and blessing of St. Joseph's Center new Adult Day Program facility, located on Laird St. in Wilkes-Barre, are, from left: Peter Kanton, board member; Ann Rink, administrator of Community Programs; Father William Pickard, chaplain; John Graham, board member; Jennifer Mackeg director of Adult Day Programs; Immaculate Heart of Mary Sister Maryalice Jacquinot, president and CEO of St. Joseph's Center; Maryellen Desiderio, administrator of ICF/IVIR; Robert Gordon, vice president and CFO, St. Joseph's Center; and Atty. Joseph Price, board member.

WILKES-BARRE – St. Jospeh’s Center has a history of providing day options for individuals who have reached the age of 21 and have graduated their school-age educational programs.
The Center operates a program for 30 individuals at the Main Campus in Scranton. In 2003, the program expanded to accommodate an additional 90 clients at the South Blakely Street Campus in Dunmore.

This past May, St. Joseph’s formally dedicated it’s new Wilkes-Barre program, with the capacity to serve 30 individuals with severe profound intellectual disabilities, including some who may use wheelchairs for mobility.

The primary focus of the program is to enhance individual self-care and activities of daily living skills and to expand community-based opportunities.

“St. Joseph’s Center is pleased be able to provide Adult Day Program Services that accommodate the needs of individuals who reside in Luzerne County,” said Immaculate Heart of Mary Sister Maryalice Jacquinot, President and CEO.
For more information on the Luzerne County campus, call (496-4200 or 208-4457).

*Published in The Catholic Light, July 28th, 2011

People on the Move - June 5th 2011

Mike Detter, SIOR has achieved the SIOR office designation awarded by the Society of Industrial and Office Realtors. Mr. Detter is now one of only two SIOR’s in Northeast Pennsylvania with the other being John Cognetti also of Hinerfeld Commercial Real Estate. Mr. Detter is an alumnus of Leadership Lackawanna class of 2007. He earned a bachelor of Science in Accounting from Penn State University.

Mike Detter’s complete bio can be found on our web site.

Ellen Raineri

Commercial Real Estate agent, Ellen M. Raineri, Ph.D., recently conducted a workshop in Hilton Head at the US Association for Small Business and Entrepreneurship (USASBE) convention. Her workshop was titled “Commercial Real Estate Analysis for Entrepreneurs.”
Because of the high failure rate of start-up companies and the significant cost entrepreneurs pay for the real estate component of their businesses, a need for commercial real estate analysis for entrepreneurs exists. First, consider the high failure rate. From a time perspective, 80-90% of new business will fail within 5 years (Benson, 1995). From a count perspective, only one in five survive (Mary, 1991).
Second, the cost of commercial real estate tends to be a high priced item. Not all start up entrepreneurs can afford to purchase a building by contributing to a hefty down payment and the associated mortgage payment. Furthermore, not all start up entrepreneurs would qualify for a mortgage.
Accordingly, many start-up entrepreneurs choose the leasing route. To examine the high costs, two examples of industrial, office, and retail property lease costs will be shared. As an example, a 3 year constant (non escalating) lease for a 50,000 sf warehouse in Philadelphia would cost $525,000 (Grubb & Ellis, 2010). One in Chicago would cost $620,000 to lease. Next, a 3 year constant (non escalating) lease for a 5,202 sf office space in Boston would cost $436,968 (NAI Hunneman, 2010).  A 6,000 sf office space in Dallas, TX would cost $252,000 (Thomson Realty Group, 2010). Last, a 3 year constant (non escalating) lease for a 10,000 sf retail space in Stamford would cost $1,110,000 (Dy-Co Mgmt. Corp, 2010).  A 10,000 sf retail space in Charlotte would cost $630,000 (Contessa Development, 2010). These figures do not include the cost of taxes, insurance, or utilities.
When examining reasons for start-up entrepreneurs’ failures, Solovic (2004) notes 10 common reasons. One of the reasons new businesses fail is that owners “do not have the right stuff.” Another reason that Solovic shares is that entrepreneurs understate costs. Commercial real estate analysis is not always a known topic to entrepreneurs and consequently, some entrepreneurs “do not have the right stuff” and may “understate costs” as related to commercial real estate properties.
Raineri helped workshop participants in the above two failure areas by equipping entrepreneurs with  analytical skills to better evaluate leases as well as industrial, office and retail properties.  Raineri’s workshop material has subsequently been shared in other states to further assist entrepreneurs with their analysis of commercial real estate.