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The projects, people and companies

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changing the regional landscape.

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20-57
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Commercial real estate brokerages ranked by

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number of local licensed brokers.

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18
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DRANOFF PROPERTIES
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HEALTH CARE LAW BANKING

Qlik finds its new
headquarters in KoP
The behind-the-deal story on how one
of the region’s hottest technology
companies ended up in its glittering
new home on Gulph Road in King of
Prussia. NATALIE KOSTELNI, 16
Industry disruptor
nabs Phila. lawyer
Eric Meyer worked for traditional law
firms throughout a nearly two-decade
legal career. Now, he’s working for
‘cloud-based’ firm FisherBroyles.
JEFF BLUMENTHAL, 10
CEOs optimistic
about economy
Banking leaders from around the
region came to Center City last week
for the Business Journal’s ‘Navigating
a New Banking Landscape’ Q&A
symposium. JEFF BLUMENTHAL, 14
RESHAPING THE CLAY STUDIO 8

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MARCH 23, 2018 3

NEWS
‘BIG DEAL’

Tyler School of Art launches artist fund

BY KENNETH HILARIO “This is a big deal. With federal arts trillion of total annual discretionary
khilario@bizjournals.com funding declining, The Andy War- spending, grants from these agencies
hol Foundation for the Visual Arts rec- have been deeply valued financial life-

T
emple Contemporary at Tyler ognized a desperate need for artists to lines and highly coveted honors for art-
started The Velocity Fund, an ini- support their own practices, and they ists, musicians, writers and scholars for
tiative supporting visual artists stepped into the breach,” Tyler Contem- decades,” according to The New York
living in the city with grants of up to porary’s Blackson said. Times.
$5,000. Tyler Contemporary was estab- To do that, artists partner with local But all is not lost in Philadelphia, the
lished with the support of The Andy arts institutions that have access to the cultural sector of which generates $4.1
Warhol Foundation. surrounding artistic communities, or billion in economic impact to Greater
Temple Contemporary’s mission is “places that are attuned to the needs of Philadelphia, according to a 2017 report
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to “re-imagine the social function of GETTY IMAGES their city and its artists,” he said. by the Cultural Alliance. Institutions
art through questions of local relevance Federal arts funding has been on the also continue to get funding from orga-
er

and international significance,” accord- round of grants will be awarded on Sept. decline for years now, and the cultural nizations like the Philadelphia Cultural
ica

ing to its website, and it’s described as 1 after a national panel assessment. sector took a huge hit when in 2017 Pres- Fund, which in 2017 doled out over $3
an “urban connector in the visual arts” The Velocity Fund is one of 12 so-called ident Donald Trump released a proposed million to 300-plus organizations.
n

by Tyler Dean Susan E. Cahan. regional re-granting programs the War- federal budget eliminating the Nation- Left to their own devices, and in
Ci

Robert Blackson, director of Tem- hol Foundation launched to fund “under- al Endowment for the Arts and the attempts to assuage funding woes, local
ple Contemporary, said those eligible to the-radar artistic activity” by partnering National Endowment for the Human- cultural organizations created their own
ty

apply include all professional, nonstu- with cultural institutions in U.S. cities ities, among others. initiatives to keep themselves afloat and
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dent visual artists living and working in “where the level of self-organized artis- The Philadelphia region’s cultural keep funding streams coming in.
Philadelphia seeking to create any type tic activity is the highest,” according to organizations received nearly $8 mil- Theatre Philadelphia, for instance, a
s

of project with a public outcome — web- Tyler officials. lion from the NEA in the five years pri- in February this year held its inaugural
ine

sites, books, performances and screen- The Velocity Fund is the first War- or, according to the Greater Philadelphia Philly Theatre Week, a restaurant week-
ings, among others. hol Foundation-supported regional Cultural Alliance. like festival with over 80 events and 200
ss

Artists can apply online for the first re-granting program in Pennsylvania, “While the combined annual bud- performances. The end game was to help
annual round of Velocity Fund grants; and only the second on the East Coast, gets of both endowments — about $300 introduce new audiences to theatrical
Jo

applications are due by June 1. The first according to officials. million — are a tiny fraction of the $1.1 and artists’ work
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4  PHILADELPHIA BUSINESS JOURNAL

ON HEALTH CARE BY JOHN GEORGE

I JGEORGE@BIZJOURNALS.COM 215-238-5137 @PHLBIZJGEORGE

R R QUOTABLE LONG-TERM CARE

TRECS targets ‘no-brainers’

W
hile nursing homes are capa-
ble of providing blood transfu-
sions to residents, they don’t if
the person’s medical expenses are covered
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by Medicaid.
The reason?
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“We are not going to The cost of a medically necessary

ica

blood transfusion for a Medicaid long-

singlehandedly solve term care patient is only covered if that
n

the opioid epidemic patient is admitted to the hospital and

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becomes a Medicare patient. The average

crisis, but we think we length of stay for such patients is 4.7 days,
ty

can contribute.” resulting in the average admission cost-

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ing the Medicare program $15,000. Hav-

GERRI HENWOOD, president and ing a qualified nurse handle the trans-
s

CEO of Recro Pharma, discussing fusion at the nursing home would cost
ine

the Malvern company’s new drug

candidate IV meloxicam. The FDA
less than $2,500. Transferring patients to
is expected to rule on Recro’s and from nursing homes for short hos-
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new drug application for the pital stays also exposes them to potential
experimental, non-opioid pain health risks.
Jo

JOHN GEORGE
relief product in May. You can read Allowing and paying for blood transfu- John Whitman, founder of TRECS Institute, speaks at a senior housing
about what the Chester County
ur

pharmaceutical company is doing to

sions at nursing homes is an example of a symposium at the University of Pennsylvania.
na

prepare for the potential launch of “no-brainer” that John Whitman, found-
its first product at PBJ.com. er and executive director of the Bucks ing them with what the cost savings potentially driven by historical practice
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County-based TRECS Institute, is trying would be,” Whitman said. “I want to send patterns, reimbursement or regulations
-

R R BIG NUMBER to shine a light on. that information to CMS [the Centers for that is not in the patient’s best interest or
No

The TRECS Institute, a nonprofit orga- Medicare and Medicaid Services].” results in wasted and unnecessary health

$126,617
nization — with an acronym that stands Whitman is well aware that changing care system spending.
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for Targeting Revolutionary Elder Care a government program will take time, but “I am not suggesting no-brainers are
or

Solutions — works to bring about positive he has a secondary motive. anybody’s fault,” he said. “It’s just the way
Amount of civil penalty paid by
changes in the care of senior adults, has “You have all these managed care com- the system has evolved.… We need to step
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Philadelphia cardiologist Dr. Vidya teamed up with the University of Penn- panies and ACOs and third-party payers back and take a look at the system.”
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Bankato to settle claims by the U.S. sylvania’s School of Nursing and Leonard that have the ability to make changes The TRECS Institute has reached out
Attorney’s Office that he performed Davis Institute on a national initiative to now,” he said. If we can raise awareness to the country’s major professional orga-
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unnecessary cardiac stent identify and address no-brainers in long- of savings and quality-of-care issues, my nizations actively involved in long-term
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procedures at Pennsylvania Hospital

between May 2010 and September
term care. hope is these groups will move much care and individual providers to be part-
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2012. Banka admitted no liability as “Our ultimate goal is to come up with quicker.” ners in this initiative and provide exam-
part of the agreement. a list of the top 10 or 20 or 50 no-brainers Whitman defines no-brainers as any ples of no-brainers they encounter, and
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and have recommendations for address- current practice within long-term care, how those situations can be improved.
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FDA WATCH

FDA APPROVES MONTCO COMPANY’S TREATMENT FOR RARE NERVE DISORDER

Company: CSL Behring
Headquarters: King of Prussia
Drug: Hizentra
Approval: Hizentra was approved as
a treatment for chronic inflammatory
demyelinating polyneuropathy
(CIDP). The rare autoimmune disorder
affects the peripheral nerves and may
cause permanent nerve damage. The
condition, which afflicts an estimated
40,000 people in the United States,
can cause nerve numbness or
tingling, muscle weakness, fatigue
and other symptoms. An estimated
30 percent of CIDP patients will
progress to wheelchair dependence
if their condition is not properly
treated. Hizentra was approved as
a maintenance therapy to prevent
relapse of neuromuscular disability
and impairment.
What they’re saying: Lisa Butler,
executive director of the GBS/CIDP
Foundation International, said despite
the available treatment options, many
CIDP patients continue to struggle
with daily disease and lifestyle
challenges — making continued
research and innovation critical. “The
approval of Hizentra offers patients
who were once burdened by traveling
to the infusion center or hospital
the flexibility to self-administer their
treatment at a time, place, and on a
schedule that’s convenient for them,”
Butler said.
More about the drug: Hizentra is
already approved in 51 countries for
the treatment of several immune
deficiencies. The CIDP approval
from the FDA came 10 days after
the company received approval for
Hizentra in CIPD from the European
Commission.
MARCH 23, 2018 5

S TAT U S Q U O S I T S I D L E .
Am
er
ica
n
Ci
ty
Bu
s ine
ss
Jo
ur
na
ls
-

Status Go
No

™
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H A S T H E E N G I N E S R E V V I N G.
or
c om

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Are you ready?

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Welcome to Status Go.

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Explore the implications at

gt.com/taxreform

“Grant Thornton” refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL), and/or refers to the brand under which the independent network of GTIL member firms
provide services to their clients, as the context requires. GTIL and each of its member firms are not a worldwide partnership and are not liable for one another’s acts or omissions. In the United States,
visit grantthornton.com for details. © 2018 Grant Thornton LLP | All rights reserved | U.S. member firm of Grant Thornton International Ltd
6  PHILADELPHIA BUSINESS JOURNAL

ON TECH & EDUCATION BY MICHELLE CAFFREY

I MCAFFREY@BIZJOURNALS.COM 215-238-5132 @PHLBIZMCAFFREY

R R BY THE NUMBERS

Ben Franklin Technology Partners

Need to rehome or adopt a pet?
of Southeastern Pennsylvania
posted record annual investment GETYOURPET.COM HAS A NEW WAY TO FIND A FURRY FRIEND
figures once again this week,

A
when it announced its calendar pet rehoming company born
year 2017 results. Here’s how the
nonprofit, a combination seed stage in New Hope is steadily grow-
fund and economic development ing following a recent national
organization, spent its money last expansion, as the startup and its web-
Am

year: site, GetYourPet.com, attempts to change

the adoption game.
67
er

Founded by Angela Marcus, a former

ica

the number of companies in the operations director of the Pennsylvania

region that Ben Franklin committed SPCA, the site matches pet owners who
to investing in
n

need to rehome a cat or dog with people

Ci

looking to adopt. After taking it nation-

31 al last year, the site’s recorded a 30 per-
ty

the percent of deals that cent to 35 percent increase in adoptions

represented follow-on funding to
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each month, reaching 280 in February

existing portfolio companies
and more projected in March.
s

28 The number may seem small consid-

ine

ering the 2.5 million pets that are giv-

the number of information en up by owners each year, but it’s still
ss

technology companies that received

funding far more than Marcus needs to feel she’s
making progress on the goal she set out
Jo

223 when first coming up with the site.

ur

The seeds of Get Your Pet were plant-

the number of active companies
na

now in Ben Franklin’s portfolio ed during her time at the Pennsylvania

SPCA, when she saw countless people
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$12 million come in who needed to find a new home

-

for their pet, and they didn’t have any-

The total amount Ben Franklin
No

committed in 2017, up nearly $2 where else to turn.

million from 2016. The vast majority of people giving up
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their pets aren’t doing so willingly, Mar- GETTY IMAGES

or

cus said. It’s often the result of a death,

R R QUOTABLE a move to a residence where pets aren’t their health, personalities and the reason up for adoption are the pets’ best advo-
c

allowed, financial hardship, a new child, they need to be rehomed. People looking cates, she said and many are “like adop-
om

allergies or clashes with other pets. for pets can browse through those post- tion counselors on steroids” as they do
“These are not bad people,” she said. ings, using filters to find what they’re their due diligence vetting their pets’
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“Why not build something that enables looking for. If they see a pet they like, potential new home.
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people to do it responsibly and support they message the owner and arrange to It’s a process Marcus said mimics how
cia

them through the process?” meet up offline. Get Your Pet provides many people, especially younger genera-
After leaving the SPCA in 2013 and a voucher for a veterinary check up at tions, are used to interacting with online
lu

spending a couple of years helping her any of the 500 private veterinary prac- services.
husband renovate a veterinary hospital tices it’s partnered with nationwide, and “This is the future of pet adoption,”
se

“We’re not looking to
displace the business’s
existing infrastructure,
we think we can
cohabitate with
them.”
ANDREW CHAMBERS, CEO of
Berwyn-based Renterval, which
creates white label software for
companies that rent anything
from costumes to construction
equipment. It recently released
Renterval for Retail, a platform that
ties into a retail company’s existing
point-of-sale system to allow it to
rent out its inventory.
they own in New Hope, she got Get Your
Pet off the ground.
Co-founder Jeff Tucker, a family friend
who was drawn to Marcus’ ideas, had
the business know-how, but she knew
she needed technical expertise to build
the site she imagined. After tapping her
personal network, a friend connected
her to Barry Glick, the founding CEO of
Mapquest, who in turn introduced her to
her Brian Eriksen, now her chief techni-
cal officer.
To date, the company has raised about
$1.2 million from friends, family and
angel investors, as well as an addition-
al $750,000 from the Watershed Animal
Fund.
The site is set up to allow pet own-
ers, or guardians as the site calls them,
to post their pet’s information including
the legalities are covered through an offi-
cial pet adoption on the Get Your Pet site.
Get Your Pet also provides 30 days of pet
insurance through Trupanion.
Marcus said they require users — it
has about 140,000 at the moment — to
adhere strictly to its process and not
message each other outside of the site
until the pet owner accepts the meetup.
The messaging center automatically flags
if a phone number is put in the chat or if
a user mentions problematic key words
like dog fighting.
Revenue comes from its flat adoption
fees, $99 for a dog and $49 for a cat, and
users are not allowed to ask for any addi-
tional rehoming fees.
“Our first and last and best line of
defense is the guardians themselves,”
she said. The people putting their pets
ACCT Philly Executive Director Vincent
Medley said about Get Your Pet, accord-
ing to its site.
She doesn’t think the site would hurt
existing pet shelters or rescues in any-
way, as many are already over capacity
and struggling to handle the pets they
have coming in already. About 7.5 mil-
lion pets go into a shelter each year —
one out of every three out there, Marcus
said — and 2.5 million of those are sur-
rendered. Overall, 2.6 million are euth-
anized each year.
About 300 new pets are listed on Get
Your Pet and 15 adoptions are complet-
ed each day, Marcus said, and more than
1,300 pets have been adopted through
the site, so far. If this growth continues,
she anticipates the company will begin
breaking even this fall.
MARCH 23, 2018 7

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Today, more people live in cities than ever before, and we expect this trend will continue to
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“Bank of America Merrill Lynch” is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including
Bank of America, N.A., Member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner
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8  PHILADELPHIA BUSINESS JOURNAL

ON HOSPITALITY BY KENNETH HILARIO

I KHILARIO@BIZJOURNALS.COM 215-238-5145 @PHLBIZKENNETH

R R QUOTABLE

“Clients and potential

NETFLIX-STYLE OPERA
clients were looking NEW AUDIENCES? CHECK. IMPROVED PERCEPTION? CHECK.

T
to New York for the hey say perception is everything,
and if that is true, then Opera Phil-
products and services adelphia is heading in the right
that they could find in direction.
Am

Opera Philadelphia’s inaugural O fes-

their own backyard. tival in 2017 attracted new audiences and
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Realizing that we have improved its perception as a compa-

ica

ny. That’s important amid competition,

been a design district and for a company that sees itself as a
for years — without
n

media choice alongside Netflix, HBO and

Ci

YouTube.
the title — helped us to Opera Philadelphia in September 2017
ty

move in the direction launched O, a 12-day festival opening

Bu

the opera company’s fall seasons, where

of collaborations and guests pick productions they want to see.
s

forming a network.” This year’s iteration, O18, will be held

ine

Sept. 20-30, comprising five operatic

EUGENIE A. PERRET, founder of
events across multiple Philadelphia ven-
ss

showroom Minima, one of 10 PATRICK BERGER

independent Old City businesses ues, including two world premieres and
that created Philadelphia Design two new productions. “A Midsummer Night’s Dream” will be at the Academy of Music in Philadelphia
Jo

District, a collective initiative to Among the goals was to open the on Feb. 8, 10, 15 and 17, 2019. It will be the U.S. production premiere of Robert
ur

raise awareness for the area’s design company to a wider audience and attract Carsen’s classic staging of Benjamin Britten’s opera.
industry.
na

future donors and philanthropists. The

company may have accomplished what it ly with social media — were also on an media choice along with Netflix, HBO,
ls

set out to do. upswing. YouTube, movies, podcasts and playlists,

R R BIG NUMBER
-

Opera Philadelphia issued 30,000 tick- About 80 percent of attendees said among others.
No

ets during O17, according to post-festival their O17 experience improved their per- “We need to develop compelling artis-

$8 million research data given to the Philadelphia ceptions of Opera Philadelphia as a com- tic experiences that connect artists and
tf

Business Journal by Opera Philadelphia, pany. Innovative and ambitious produc- audiences so as to compete with all these
or

Gift given by Alan B. Miller, CEO of which reports 88 percent of attendees tions and quality productions were the other alternatives,” Devan said. “Percep-
Universal Health Services Inc., and were satisfied with their overall experi- top reasons that improved perception, tion of our festival brand as being vital,
c

wife Jill Miller to the Museum of the ence at O17. according to Opera Philadelphia research. alive and on the leading edge of artistic
om

American Revolution. The theater About 54 percent of attendees were “High perceptions and trust in our experiences is paramount.”
housing George Washington’s
first-time buyers, and 35 percent of those artistic choices is good and necessary in That’s particularly important as fund-
m

war tent was named after Alan, a

museum board member. who saw two or more productions during a modern age of increasing competition ing for the arts continue to dwindle and
er

O17 came from more than 70 miles from for people’s time and attention,” Gener- cultural organizations must diversify and
cia

Philadelphia. al Director and President David B. Devan develop new revenue streams.
Levels for word of mouth — a strong, told the Business Journal.
lu

influential marketing tool, particular- The opera company views itself as a

se

A FEW MINUTES WITH ...

JENNIFER D. MARTIN, EXECUTIVE DIRECTOR, THE CLAY STUDIO

The Clay Studio in Old City appointed
Jennifer D. Martin as its new
executive director. Martin will lead the
organization through its expansion
and relocation to South Kensington. I
spoke with her about how the studio
has grown. Read the full interview at
pbj.com.
How has the studio grown? The Clay
Studio has quadrupled the number of
people coming through our doors in
the last five years. Our numbers have
grown to 4,600 people served in our
school alone.
We have nearly doubled our earned
income to $1 million in the past six
years. The Clay Studio budget has
grown to $2.3 million over the last
five years, and our staff has grown
from 14 people in 2013 to 21 in
2018.
What does the expansion mean for
the studio, Old City and the design
industry in Philadelphia? At the
time of The Clay Studio’s founding,
Old City had just taken on the brand
of the “design district” and our
organization was very much a part of
making this happen.
Together with the neighborhood,
we launched the First Friday
program and established the
district as a destination for artists
and makers. Since then, Old
City has grown into a thriving
community of galleries, arts
organizations, tech and advertising
agencies, boutique retailers, and a
culinary hub.
MARCH 23, 2018 9

Am
er
ica
n
Ci
ty
Bu
s
ine
ss
Jo
ur
na
ls
-No
tf
or
c om
m
er
cia
lu
se

VIS-001_Vistage_SilverTie_10x12.25-BH-1.indd 1 3/14/18 9:52 AM

10  PHILADELPHIA BUSINESS JOURNAL

ON FINANCE & LAW BY JEFF BLUMENTHAL

I JBLUMENTHAL@BIZJOURNALS.COM 215-238-5136 @PHLBIZLAWBANK

HEAD IN THE CLOUD

R R BIG NUMBER

$30M
The size of the loan fraud scheme
WHY A LOCAL EMPLOYMENT LITIGATOR JOINED
allegedly engineered by Gary A CLOUD-BASED LAW FIRM
Alan Frank, 47, of Philadelphia,

E
owner of Bala Cynwyd-based The ric Meyer spent his entire 17-year shoe law firm [with offices across the
Legal Coverage Group, which
contracts with employers desiring
legal career at traditional law firms country]. I am not in seven figures yet,”
Am

to offer a legal plan as part of their such as Schnader Harrison Segal & he said. “I would have to charge my cli-
employee benefits package. Federal Lewis and Dilworth Paxson. But he was ents an obscene amount of money. At
prosecutors charged Frank with wire recently recruited to join a firm that does FisherBroyles, my rates have actually gone
er

fraud and claimed he lied to lenders not have offices, associates, paralegals or down, dramatically in some cases.”
ica

about the size and profitability of his

company to obtain credit and even
billable hour requirements. FisherBroyles lawyers work from home
filed a bogus Chapter 11 bankruptcy Earlier this month, the employment offices but have centrally located confer-
n

petition earlier this year. lawyer became a partner at Fisher- ence room space in each city. In Philadel-
Ci

Broyles, which describes itself as the first phia, it has conference space at One Lib-
ty

and largest cloud-based law firm with erty Place and now has 10 lawyers who
R R BANK NOTES
more than 200 lawyers in over 20 cities. have practiced at big firms such as Dil-
Bu

In 2011, Meyer, chairman of Dilworth’s worth, Saul Ewing Arnstein & Lehr, Ste-
BB&T IMPORTS social media practice group, started a vens & Lee, Morgan Lewis & Bockius, Coz-
s ine

NEW LOCAL LEADER blog called “The Employer Handbook” en O’Connor and Reed Smith.
BB&T Corp. has changed its local that offers analysis on the latest news Broyles said the firm provides lawyers
ss

leadership, bringing in an executive involving workplace issues and case with the basics such as centralized admin-
from its North Carolina home law. The blog has garnered Meyer some istrative and accounting staff, software,
Jo

base to replace the retiring Scott national attention and become his chief liability insurance and document man-
Gamble as
source of client generation. And that led agement. Individual lawyers are respon-
ur

president for
its Delaware to a desire to work at a firm with lawyers sible for hiring their own legal assistants
na

Valley Region. around the country. or paralegals as needed.

Travis Rhodes
ls

“What attracted me was the national He said the firm operates as a meritoc-
has been footprint,” Meyer said. “If I engaged with lawyers with lower rates and overhead. racy, with lawyers compensated based on
-

named
a potential client in Colorado, they would Lawyers are known to be risk-averse simple, objective criteria such as client
No

president for
the bank’s ask if my firm had a Colorado presence. and behind other industries when it generation, billing clients and helping to
Delaware And when I said we didn’t have one, they comes to adapting to changes. But Fish- recruit new partners. The firm does not
tf

Valley Region, might offer us some federal work, but a erBroyles had an interesting proposition. hire lawyers with less than seven years
or

Scott which lot of them would say they need lawyers “You can make 80 percent of [the busi- experience and all of them are partners.
includes
Gamble on the ground there. FisherBroyles does ness] you generate instead of 30 percent,” Broyles declined to provide specific
c

community
om

banking have that.” Broyles said. “And you can have more data on the firm’s financial performance
markets in Philadelphia and The firm was started 15 years ago in flexibility and be more entrepreneurial. but did say it aspires to reach the AmLaw
m

surrounding Pennsylvania and Atlanta by intellectual property lawyers You are more in charge of your own des- 200, a list of the highest grossing U.S. law
New Jersey counties. Rhodes, 45,
er

Jim Fisher and Kevin Broyles. The pair tiny. There is not a lot of dictating from firms, within 18 months. That would take
who is regional corporate banking
were looking for a new economic model the top to raise rates.” it to at least $85 million in revenue based
cia

manager in Charlotte, N.C., will

assume his new role effective after the tech wreck of the early 2000s That was part of the appeal for Meyer. on last year’s list. Meyer noted that the
immediately. caused many of their clients to go out of “I don’t have a big enough book of firm would like to exceed 300 lawyers by
lu

business and those who survived to seek business to be considered by a white next year.
se
MARCH 23, 2018 11

R R BY THE NUMBERS R R QUOTABLE

U.S. News & World Report released its

annual law school rankings this week. Here “You won’t see us double in size any time soon. We will grow strategically if it fits
is how the six local schools ranked by 2016
employment rate for graduates 10 months
with the needs of our clients.”
after graduation. GRANT PALMER, Blank Rome’s incoming managing partner, on the firm’s future.
GRADUATE EMPLOYMENT RATE

PENN
Am

COUNT ON
95.7%
er
ica

OUR CAPITAL.
n
Ci
ty

Drexel
BUILD YOUR
Bu

83.7%
s

BUSINESS.
ine
ss
Jo
ur

Temple
na

83.2%
ls

Christine Carpenter, VP
-

610.263.0301
No
tf
or
c

Villanova
om

81.4%
m
er

COMMERCIAL
cia

LENDING
lu
se

Rutgers
80.2%
COMMITMENT YOU CAN COUNT O N.
SM

Widener
59.5%

RECENTLY FINANCED COMMERCIAL REAL ESTATE

$17,200,000 $9,925,000 $15,700,000

MULTIFAMILY MEDICAL OFFICE MULTIFAMILY
PERMANENT LOAN CONSTRUCTION LOAN CONSTRUCTION LOAN
Source: U.S. News & World Report
Note: Widener data is just for Delaware
Law School. Harrisburg data is not www.Provident.Bank
included.
12  PHILADELPHIA BUSINESS JOURNAL
INSIDE THE REPORTER’S NOTEBOOK: BANKING
Bankers look into their crystal balls
BY JEFF BLUMENTHAL & CLARA LEFTON
At the Philadelphia Business Journal’s “Navigating
the New Banking Landscape” event last week, we
asked our panel of six local bank executives to tell us
about something people are not talking about now
regarding banking but could be in the coming years.
Here are their responses:
Am
er
JIM DEVER
REGIONAL PRESIDENT,
BANK OF AMERICA
We’ve got something
very interesting
coming out in the
next couple months
called Erica — much
like Siri, much like
Alexa. Erica and again
really creative name
if you think Bank
of America, Erica
right? But it’s actually
kind of artificial
intelligence that when
you think about
whether it’s your most
sophisticated client.
This would be very,
very interactive. In the
early going it may just
be things like, ‘Erica,
how much did I spend
on Amazon in the last
two weeks? In the last
seven days? Erica,
what bills do I have
coming up today?
What bills do I have in
the next week?’ Just
very, very, very, very
interactive.
Philadelphia Business Journal’s Inside the Reporter’s
Notebook event “Navigating the New Banking Landscape”
was held Thursday March 15 at Hard Rock Cafe.
CHRISTOPHER EVELYN SMALLS RICHARD J. GREEN
MAHER CEO, UNITED BANK OF CHAIRMAN AND CEO,
FIRSTRUST BANK
CEO, OCEANFIRST PHILADELPHIA
FINANCIAL CORP. Where will small Thinking over what
ica
community banks be? Jim said about artificial
I think 10 years
You know, because intelligence and just a
n
from now you may
the technology is more elaborate use of
Ci
have read stuff
really growing, and that. That’ll develop in
about blockchain
ty
GERARD CUDDY and cryptocurrency.
millennials don’t go ways that we haven’t
into banks, and like even thought of. And
Bu
CEO, BENEFICIAL Within 10 years
things like apps and so, for Chris talking
BANCORP you’re going to start
so it’s just what will about blockchain I
s
to see very dramatic
ine
I think 10 years from banking look like? believe that bitcoin
differences in use of
now when you’re What will community as currency... I really
that technology. It’ll
ss
here doing this panel banks look like? And don’t have much faith
come out first on the
and I’m in the back will there be more in that, but I think that
commercial side. Just
Jo
in my wheelchair. I mergers/acquisitions blockchain’s distributed
to give you a minute
think half the CEOs combined? lender technology is
ur
background, bitcoin is
will be women, if not one of those second
na
a cryptocurrency that
more and I think that’s curb phenomena.
uses the technology.
ls
actually happening There’s this theory that
Blockchain is the
right now. If you we tend to overestimate
-
technology. So, to
look at some of the the impact of a
No
reduce it all down to
C-suite positions in phenomenon in
one thing: Blockchain
some of the larger the short run and
tf
gives you the absolute
banks and also the underestimate it in the
or
security of information.
community banks it long run and not unlike
And then the roll out of
seems like, there’s a the internet itself, I
c
what we saw, actually
IRA BROWN
om
great representation of think that distributed
just this week, the first
women in the C-suite REGIONAL PRESIDENT, lender technology is
real estate transaction M&T BANK
m
that just wasn’t seen. one of those things that
in the U.S. — it was
er
This may be a little will pull in ways in our
done in Vermont —did
bit granular but for industry and in others
cia
a test where you don’t
the employees we that will [normalize] it
need title change with
have on the ground in 10 years.
lu
the charge because
today our typical And the last thing
you’re transferring real
se
relationship manager I want to say is that
estate via blockchain
who’s going to serve while at Firstrust we’ve
security. That will
a client is going to never been very heavy
grow.
fundamentally change on brick and mortar
— they’ve got to be able branches, I think one
to adapt to all of this of the things that we’ll
technology. They’ve be talking about in 10
got to be able to work years is that there still
within a structure are branches. There
that is in a heavily should be maybe a lot
regulated industry fewer of them, but still
such as ours. So, I as much as the popular
think you’re going to concept is [that]
see the next generation branches are obsolete...
of bankers. millennials will still use
branches. Not as often
and for different things.
MARCH 23, 2018 13

BANKING LEADERS
BANKING LEADER
Am
er

SINCE 1934
ica
n
Ci
ty
Bu
s
ine
ss
Jo
ur
na
ls
-No
tf
or
c om

For over 80 years, area leaders

m
er

have relied on Firstrust to guide

cia

their growth and ongoing success.

lu
se

Family-owned, forward-thinking,
community-focused, we remain
dedicated to providing our customers
the very best in service, technology,
and solutions.

FIRSTRUST.COM
14  PHILADELPHIA BUSINESS JOURNAL
INSIDE THE REPORTER’S NOTEBOOK: BANKING
Bankers see bright future
BANK LEADERS EXPECT LOWER TAXES & LOOSER REGS WILL BENEFIT ECONOMY
BY JEFF BLUMENTHAL
& CLARA LEFTON
D
onald Trump campaigned for
president with a promise to
cut the corporate tax rate and
repeal the 2010 Dodd Frank Wall Street
Reform and Consumer Protection Act,
the landmark financial regulation over-
Am
haul enacted in response to the finan-
cial crisis.
er
A little more than a year after Trump
ica
was sworn into office, there has been
action on both fronts and a panel of
n
local bankers gathered recently for the
Philadelphia Business Journal’s “Nav-
igating the New Banking Landscape”
event. They seemed upbeat about what it
could mean for their businesses and the
broader economy. They also said they feel
good about the state of the local econo-
my despite the city of Philadelphia’s sub-
stantial tax burden.
Last week, the U.S. Senate passed a
bill with bipartisan support (67 votes,
including 17 Democrats) to curb some
of Dodd Frank’s regulations. Banks with
$50 billion of assets are considered “sys-
temically important” and are governed
by more stringent regulations. The Sen-
ate bill raises that threshold to $250 bil-
lion, leaving only a handful of the big-
gest banks facing the toughest oversight.
The bill also exempts firms with
less than $10 billion in assets from the
so-called Volcker Rule, which banks
from making certain kinds of specula-
tive investments that do not benefit their
customers, and eased mortgage rules for
small lenders. The House of Representa-
tives must now pass a version of the bill
before it can hit Trump’s desk.
“Some of the proposals of the bill were
supporting the community banks, which
tend to be out in the heartland,” Ocean-
First Financial Corp. CEO Christopher
Maher said. “So there were some rural
or nonmetropolitan area provisions as
well, which are good — you know here’s
some parts of the country where it’s dif-
ficult to find an appraiser. But in a met-
ropolitan area like ours, we really don’t
have those same kinds of issues. So, there
were a series of things that were identi-
fied to help community banks and pro-
vide help if you’re a bank in a non-met-
ropolitan area.”
At $120 billion in assets, M&T Bank
would be one of 28 banks (ranked 13th
to 43rd nationally) affected by increasing
Ci
ty
Bu
s
ine
ss
Jo
ur
na
CRAIG EY
Six bank executives offered their views on a wide range of topics at the Philadelphia Business Journal’s
ls
“Navigating a New Banking Landscape” event last week.
-
No
the threshold for being viewed as a “sys- Main Street, but I argue you actual-
temically important” bank to $250 bil- “The central ly are,” Dever said. “So, whether you’re
tf
lion assets. Others with local operations issue for me somebody with an investment account
or
include BB&T Corp., Citizens Financial and you’re getting the benefit of the div-
Group, KeyCorp and Santander Bank. with the CFPB idends or you’re truly mainstream Main
c
“[It will] hopefully give us a little was that they Street — most likely between pension
om
breathing room, but it’s still got to get funds or a 401K etc. you’re going to see
through the House,” M&T Regional Pres- were given, those benefits.”
m
ident Ira Brown said. really, an United Bank of Philadelphia CEO Eve-
er
“What I’ve heard about it is that really, lyn Smalls said because she runs a small
unlimited
cia
it’s more relief for large banks actually,” business-focused bank, her team has
Firstrust Bank Chairman and CEO Rich- mission and been trying to make sure its small busi-
lu
ard J. Green said. “So that it raises the ness clientele know about the changes.
threshold from $50 billion to $250 bil- an unlimited “Most of them don’t take corporate
se
lion, where they’ll have a more rigorous checkbook. If taxes into their tax review … S-corps and
test level. So, it’ll help I think there, and so forth and so there’s going to be a stated
it might as a result of that promote some they can get- 20 percent deductible, but there may be
more acquisition of banks that were at a the funding a lot of complexities around that,” Smalls
different level.” said. “A lot of things that they may think
As for the reduction in the corporate should come can be deducted but may not. So, we’re
tax rate that kicks in this year, Bank of through cautioning them.”
America Regional President Jim Dever Maher said it has caused a great shift
thinks some of the savings will be used the normal in confidence but OceanFirst’s mid-
for additional investment but might not channels.” dle-market clients that have investments
enhance loan demand as many public abroad are keeping an eye on Trump’s
companies will look to increase divi- FIRSTRUST BANK plan to enact tariffs on foreign imports
CHAIRMAN AND CEO
dends or buy back stock. RICHARD J. GREEN, on
and spend money to improve the nation’s
“A lot of times those items are viewed the Consumer Financial infrastructure.
as [not helping] the average person on Protection Bureau. “Those are all questions and if you
MARCH 23, 2018 15

Philadelphia Business Journal’s Inside the Reporter’s

Notebook event “Navigating the New Banking Landscape”
was held Thursday March 15 at Hard Rock Cafe.

own your own business despite hav-
ing a good balance sheet and getting
tax reform, you’re looking at that and
saying, `Do I want to make a long-term
investment if I don’t know whether there
will be an infrastructure bill or not? If I
don’t know, am I going to spend more?
If I don’t know what my steel is going
to cost, pretty much, I’m just not going
to go out and make that commitment,’”
Maher said.
As for future of the Consumer Finan-
cial Protection Bureau, Dever said the
controversial regulatory watchdog has
an unlimited checkbook. The fund-
ing should come through the normal
channels.”
Locally, bankers are watching the
aggressive real estate development in
the city and suburbs, specifically to see
if supply outstrips demand.
“I think what’s more unnerving to us
right now at this point in the site devel-
opment, is just the sheer amount of
liquidity in the market,” Brown said. “...
Vacancy rates are higher in Philly than
they’ve been in a while … hopefully the
millennials view us as a destination —
Am
“I think what’s “And I think that’s probably a neces-
sary adjustment for the entire market
more unnerving because we had an enormous amount
to us right now of development over the course of the
last few years.”
at this point Asked if they believe city government
in the site had hindered business growth with its
policies on taxes and other things that
development, could be perceived anti-business, Cud-
is just the sheer dy said if you are a business looking to
come into the city or expand here, “it
amount of really gives you pause.”
liquidity in the “I’m not a resident of Philadelphia,
but I listen to [City Councilman] Allan
market.”

done a good job with its mission, return-
ing $12 billion to $15 billion to consumers
and he doesn’t see its structure changing
we’re at a high point right now.
“So how stable that will be is the ques-
tion. But yeah, a really good group of core
er
Domb all the time,” Cuddy said. “I think
M&T BANK REGIONAL
what he’s saying is there’s such a tidal
wave of past-due taxes that haven’t been

PRESIDENT IRA
significantly. developers are here in Philly that I think BROWN, on aggressive collected. Now that could help alleviate
ica

Green thinks the CFPB might change can manage their way through.” real estate development some of the problem. So, I’m hoping that
from a single director structure to one Beneficial Bancorp CEO Gerard Cud- in the city and suburbs. the budget that we just proposed in the
n

with five directors, something similar to dy called the level of development a city of Philadelphia is a starting point.”
Ci

the SEC or FCC. He thinks it will adopt “once in a generation thing.” Green said business leaders are not
ty

a more collaborative tone than it did “We technically had a credit cycle for a averse to paying their fare share of taxes
during the Obama era. while and sooner or later, those projects or moving into the city due to all of the
Bu

“I think they’re clearly adversarial,” are probably going to come on, which positives that go with that.
Green said. “They clearly have a polit- means sponsor quality matters a lot,” “I don’t think they’re against that,”
s ine

ical point of view. The central issue for Cuddy said. Green said. “I think they’re against not
me with the CFPB was that they were “I also think things are slowing down using [the revenue] well and it not being
ss

given, really, an unlimited mission and a little bit but positively,” Cuddy said. cohesive.”
Jo
ur
na
ls
-

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16  PHILADELPHIA BUSINESS JOURNAL
ON REAL ESTATE
I NKOSTELNI@BIZJOURNALS.COM
FROM THREE FLOORS TO ONE
Qlik finds its new headquarters in KoP
B
etween July 2016 and January
2017, Perry Kaplan easily called
Qlik 50 times trying to win its
real estate business.
Am
Such is the burden of trying to sell
your services to a client that has never
met you, but Kaplan’s perseverance paid
off. After seven months, three pitch-
es and a change in real estate directors
at the data analytics software company,
Kaplan, who works as a managing direc-
tor for Savills Studley, was hired by the
company to help it search for new office
space.
Qlik ended up signing a 10-year
lease on 62,000 square feet at 211 S.
Gulph Road in King of Prussia and lat-
er this year will relocate its headquar-
ters and 300 employees from 150 Rad-
nor-Chester Road in Radnor. How it got
to that location came after an exhaustive
search to find the right space for what
the fast-growing company wanted in a
new headquarters. The company start-
ed out in about 12,000 square feet at 150
Radnor-Chester Road in 2005 and has
grown to 64,000 square feet.
“We were looking for a space that
would kind of blow out collaboration,”
said Mike Capone, Qlik’s new CEO. “I’m
a big believer in a highly collaborative
environment.”
That’s not so easy to accomplish
where is it today, occupying multiple
floors at 150 Radnor-Chester. “[Our
current] building is beautiful and ser-
viced really well but you can see from
the flow it’s not very open,” Capone
LABEL HERE
EQUUS BUYS LIBERTY PORTFOLIO FOR $92M
Equus Capital Partners Ltd. has
acquired seven suburban office
buildings for $92 million from
Liberty Property Trust. The sale
further pares down Liberty’s
suburban office holdings, which
is part of a years-long strategy the
company has had to reposition
itself into an industrial real estate
investment trust that also focuses on
urban centers.
The buildings that were bought
total 592,942 square feet and were
located in three different office
submarkets. The properties were:
er
ica
n
Ci
ty
Bu
s
A rendering of Qlik’s new headquarters at 211 S. Gulph Road in King of Prussia.
ine
ss
said. “It’s very traditional. We are a tech
company, and I value that open space
Jo
and the ability to shout across the hall.
If we have a problem, let’s get together
ur
and solve it.”
na
Kaplan and colleagues Tim Mona-
han and Elaine Marquardt were figur-
ing out the best options for the com-
pany including staying in Radnor but
also considered spaces in West Consho-
hocken at 100-200 Four Falls and 300
Four Falls, as well as 980 Jolly Road in
Blue Bell and 211 S. Gulph. The final-
ists were 211 S. Gulph, remaining at 150
Radnor-Chester and 100-200 Four Falls.
The South Gulph Road building rose to
the top because it was a single floor and
the other options involved leasing two
floors.
In 2015, Roseview Group of Bos-
440 and 460 E. Swedesford Road
in Wayne, 300, 400, and 500
Chesterfield Parkway and 45 Liberty
Blvd. in Malvern and 2100 and 2201
Renaissance Blvd. in King of Prussia,
according to a statement issued by
Equus.
Equus bought the portfolio
through a $361 million fund called
Equus Investment Partnership
X. The firm has plans to upgrade
the interior and exterior of the
properties and ultimately sell them.
The transaction was done directly
between Liberty and Equus.
BY NATALIE KOSTELNI
215-238-5139 @PHLBIZNKOSTELNI
D2 SOLUTIONS
ton acquired the 102,204-square-foot
South Gulph Road property for $21 mil-
lion. Roseview bought the single-story
property from O’Neill Properties Group
and the Arsenal Fund, which bought
it in 2007 and converted what was an
ls
old data center into office space. When
Roseview bought it, Accenture occupied
-
62,000 square feet in the building but
No
ended up vacating the space. Not long
after that, Roseview enlisted D2 Solu-
tf
tions to come up with a plan to rebrand
or
it with a series of renovations.
Qlik was enamored with the build-
c om
ing and the proposed design changes.
The company was originally going to
m
take 48,000 square feet but continued
er
to grow during the search and leased
62,000 square feet of the former Accen-
cia
ture space.
lu
se
45 Liberty Blvd. in Malvern.
“The facility itself was spectacular,”
Capone said. “It’s one floor instead of
three, which is what we’re in right now.
It’s one space instead of the bridges and
corridors we have now, and the floor
plan was great so we’ll open it all up, and
have the ability to have tons and tons of
collaboration space and not a lot of offic-
es. I want it to be a showcase to bring cli-
ents. I want the feel to be, ‘Hey, we are
a tech company,’ but when you walk in
[Qlik’s current office] it’s very tradition-
al. I want to wow people. That will attract
employees from all spectrums or careers
but as we look to add some engineering
and data science talent, it’s nice to have
a facility like that.”
The deal also reflects the continued
attention King of Prussia continues to
receive from investors and tenants.
“King of Prussia is on the rise,” Mona-
han said. “There was nothing that was
going to change or be different in Rad-
nor. They would get a monument sign
and that was OK, but is there any sweep-
ing plan to transformative? No. Would
they have lived through a renovation?
Yes. Would you get 30-foot high ceil-
ings? No.”
As a result of the lease, the building at
211 S. Gulph is now fully leased. Its oth-
er tenants are Academic Urology, Coti-
va Institute, Integrated Physical Thera-
py and Regulatory Datacorp Inc. Qlik is
expected to move in this November.
Michelle Caffrey contributed to this
report.
GOOGLE STREET VIEW
MARCH 23, 2018 17

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Commercial Real Estate

com

It’s not just financing, it’s also knowing the landscape.

m
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Capital One® has the full-service capabilities Brian Sykes Bill Booth
CRE SVP, Originations CRE SVP, Relationship Manager
to handle all capital solutions, and the 617-747-1028 610-254-4811
commercial real estate expertise to get over brian.sykes@capitalone.com bill.booth@capitalone.com

hurdles that get in the way of your financing.

Jeff Wallace
CRE SVP, Relationship Manager
capital.one/cre 610-254-4809
jeff.wallace@capitalone.com

Products and services are offered by Capital One, N.A., Member FDIC. © 2018 Capital One.
18  PHILADELPHIA BUSINESS JOURNAL

Compiled by Sharon Oliver

215-238-5146, @PHLBizLists
soliver@bizjournals.com

COMMERCIAL REAL ESTATE BROKERAGES

RANKED BY NUMBER OF LOCAL LICENSED BROKERS
R CLOSER LOOK
Name / Address / Local real Local Local
URL Phone estate brokers employees offices Top local executive ABOUT THE LIST
This List has reverted
50 S. 16th St. #3000
1 CBRE Philadelphia, PA 19102 120 374 7 Robert Walters
back to its ranking from
cbre.com/philadelphia 215-561-8900 prior years. We thank you
for your comments, peer
1650 Arch St. #2500
2 JLL Philadelphia, PA 19103 86 180 6 Michael Morrone
review, and expressed
jll.com/philadelphia 215-988-5500 concerns as we continue to
improve The List.
1650 Market St. 33rd Fl.
3 Cushman & Wakefield of Pennsylvania LLC Philadelphia, PA 19103 60 150 7 Michael McCurdy
cushmanwakefield.com/ Information was obtained
215-963-4000
from firm representatives.
Am

1801 Market St. #500 Information on The List

4 Colliers International Philadelphia, PA 19106 58 52 6 Douglas Sayer
colliers.com/philadelphia was supplied by individual
215-925-4600 companies through
er

1735 Market St. #3900 questionnaires and could

5 Newmark Knight Frank Philadelphia, PA 19103 57 88 6 Steven J. Cousart not be independently
ica

ngkf.com 215-561-8300 verified by the Philadelphia

2005 Market St. #1510 Business Journal. SSH Real
6 Marcus & Millichap Estate did not respond to
n

Philadelphia, PA 19103 50 10 2 Sean Beuche

marcusmillichap.com/about-us/offices/philadelphia-pennsylvania 215-531-7000 our inquiries by deadline.
Ci

Only those that responded

996 Old Eagle School Rd. #1117
7 NAI Geis Realty Group Inc. Wayne, PA 19087 36 62 3 Dean Geis
to our inquiries were listed.
ty

geisrealty.com 610-989-0300 In case of ties, companies

are listed alphabetically.
Bu

307 Fellowship Rd. #300

8 Metro Commercial Real Estate Inc. Mt. Laurel, NJ 08054 26 87 3 Tom Londres
metrocommercial.com NEED A COPY
856-866-1900
OF THE LIST?
s

1845 Walnut St. 6th Fl. Information for obtaining

MSC Retail
ine

Michael Salove
8 mscretail.com
Philadelphia, PA 19103 26 30 1
Douglas Green reprints, web permissions
215-568-2600 and commemorative
plaques can be obtained
ss

1621 Wood St.

10 The Flynn Company Philadelphia, PA 19103 25 55 3 Kevin Flynn from Jenny Clark at
flynnco.com 215-561-6565 877-397-5134 or jclark@
Jo

bizjournals.com.
21 Roland Ave.
11 NAI Mertz Mount Laurel, NJ 08054 24 13 3
Barry Mertz
ur

naimertz.com David Grove WANT TO BE

856-234-9600
ON THE LIST?
na

Edward Ginn
Robert Samtmann If you wish to be surveyed
531 W. Germantown Pike #103 when The List is next
12 Equity Retail Brokers Inc. Plymouth Meeting, PA 19462 21 24 1
Ken McEvoy
ls

equityretailbrokers.com Brian Wherty updated, or if you wish to

610-645-7700
Bart Delfiner be considered for other
-

David Goodman Lists, email your contact

information to Sharon Oliver
No

2 Logan Sq. 4th Fl.

13 Binswanger Management Corp. Philadelphia, PA 19103 20 36 2
Frank Binswanger, III
at soliver@bizjournals.com
binswanger.com David Binswanger
215-448-6000 and make sure to include
tf

John Morrissey which list(s) you wish to be

151 S. Warner Rd. #110
13 Jackson Cross Partners LLC Louis Battagliese surveyed inclusion.
or

Wayne, PA 19087 20 48 3
jacksoncross.com Pete Davisson
610-265-7700
Catherine Sennett MORE DATA AVAILABLE
c

300 Barr Harbor Dr. #150 Visit www.bizjournals.com/

15 Avison Young
om

avisonyoung.com
West Conshohocken, PA 19428 19 35 2 David Fahey philadelphia/datacenter/lists
610-276-1080 For more list-specific data
1601 Walnut St. #900 including 2017 leased and
m

16 Mallin Panchelli Nadel Realty Inc. Philadelphia, PA 19102 18 20 1 Kenneth Mallin sold transaction details;
mpnrealty.com 215-413-4900 primary services offered;
er

number of commercial
Patterson-Woods Commercial Properties/ 3801 Kennett Pike Bldg. D #100
cia

property managers and

16 CORFAC International Wilmington, DE 19807 18 20 1 W. Duncan Patterson
pattersonwoods.com 302-622-3500 expanded company profiles.
lu

1700 Market St. #3232

18 HFF Philadelphia, PA 19103 14 29 1
Mark Thomson
hfflp.com Doug Rodio
484-532-4200
se

50 S. 16th St. #3400

18 Savills Studley Philadelphia, PA 19102 14 20 1
Hether Smith
savills-studley.com Greg Soffian
215-563-4000
951 Route 73 N. #D
20 Wolf Commercial Real Estate (WCRE) Marlton, NJ 08053 13 16 2 Jason Wolf
Wolfcre.com 856-857-6300
107 S. 2nd St. Fl. 4
21 Rittenhouse Realty Advisors Philadelphia, PA 19106 12 15 1 Ken Wellar
rittenhouserealty.com 215-454-2852
1 W. 1st Ave. #201
22 Cresa Conshohocken, PA 19428 10 13 2 John Behm
cresa.com 610-825-3939
2 Logan Sq. #520
23 Tactix Real Estate Advisors Philadelphia, PA 19103 8 22 1 Glenn Blumenfeld
tactix.com 610-688-1800
1500 John F. Kennedy Blvd. #1520
24 PernaFrederick LLC Philadelphia, PA 19102 6 8 1 Stephen Perna
pernafrederick.com 215-496-9675
2490 Blvd. of the Generals
25 Gola Corporate Real Estate Valley Forge, PA 19403 4 10 1 Mark Gola
gola.com 610-631-0333
1760 Market St. #900
25 Stockton Real Estate Advisors Philadelphia, PA 19103 4 12 1 James Paterno
stocktonadvisors.biz 215-636-4444

NOTES: NA - not available; NEW - New to the list; WND - Would not disclose
MARCH 23, 2018 19

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THE MUST-SEE PROJECTS AND MUST-MEET PEOPLE CHANGING OUR SKYLINE

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20  PHILADELPHIA BUSINESS JOURNAL

ABOUT THIS SECTION

HONORING THE REGION’S

GAME-CHANGING DEALS
G
Greater Philadelphia is full of
opportunity.
Projects are sprouting up in
Center City, King of Prussia, South
Jersey and across the region. It’s an
exciting time.
JUDGES
feature on PBJ.com that has beome a
major reader favorite.
This year, we received 50 nominations
for Best Real Estate Deals. That’s a
record and it speaks to the rise in
activity across almost all sectors.
Am

The Philadelphia Business Journal Of course, the entire program would

each year honors the Best Real Estate be impossible without our volunteer
Deals of the year – anything from judges who spent hours pouring over
er

building sales to renovations to the nominations and choosing our

ica

project completions. honorees.

Through an extensive nomination We hope you enjoy the Best Real ANNE KLEIN BRIAN EDMONDS DAVID FAHEY
n

process, we endeavor to honor the Estate Deals of 2017. Congratulations Executive Managing Managing Director at Principal and Managing
Ci

deals with the highest impact on the to all of our honorees. Director of Newmark SVN-The Concordis Director at Avison Young
ty

region – the gamechangers, if you — Craig Ey Knight Frank’s Global Group

will. Editor-in-Chief Corporate Services
Bu

We also honor the region’s Economic Group

Development Champions, people
s ine

who are leading the effort to grow

Greater Philadelphia.
ss

And, new this year, we are honoring

the Coolest Offices of the Year – the
Jo

very best of our weekly Cool Offices

ur
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MULTIFAMILY FINANCING EXPERTS

ls

ACQUISITION | REFINANCE | REHABILITATION | CONSTRUCTION

-

FREDDIE MAC | FHA

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$2.28 MILLION $4 MILLION

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ACQUISITION ACQUISITION
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FREDDIE MAC FREDDIE MAC

SMALL BALANCE LOAN SMALL BALANCE LOAN
m

10-YEAR FIXED, 4.07% 10-YEAR FIXED, 4.30%

er

57 UNITS 56 UNITS
cia

PITTSBURGH, PA PITTSBURGH, PA
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$1.08 MILLION CONTACT

ACQUISITION MICHAEL STATON

FREDDIE MAC MSTATON@COMMUNITYP.COM

SMALL BALANCE LOAN 646-822-6858
10-YEAR FIXED, 4.22%
26 UNITS COMMUNITYP.COM
PITTSBURGH, PA

UNCOMMON EXPERTISE. UNMATCHED IMPACT.

MARCH 23, 2018 21

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22  PHILADELPHIA BUSINESS JOURNAL

ONE RIVERSIDE
210 S. 25TH ST.,
PHILADELPHIA
Developer: Dranoff
Properties
Architect: Cecil Baker &
Partners
Am

Landscape Architect:
Studio Bryan Hanes
er

Financing: M&T Bank

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BEST LUXURY HOUSING | ONE RIVERSIDE

m
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FIVE-YEAR OVERNIGHT SENSATION

cia
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BY NATALIE KOSTELNI than originally expected. At the high end, there

have been sales at or hovering around $3 million

B
etween May and December 2017, 59 of One
Riverside’s 68 condominiums closed for
a total of $123 million, underscoring the
demand for high-end condos in Philadelphia.
The new owners at the tower at 225 S. 25th
St. that was developed by Dranoff Properties are
overwhelmingly from Philadelphia and the Main
Line with a very small number from New York or
New Jersey who have children attending schools in
Philadelphia and bought a pied-à-terre for when
they visit. These residents are also at the top of
their professions and, if they don’t hold high power
positions, they are in the upper echelons of the city
and region’s social scene.
About 25 percent of the buyers have combined a
couple of units with the average size being between
2,200 and 2,600 square feet. Sale prices have been
more than $1,050 a square foot – about $50 more
and $4 million. More than a dozen are a tad above
or below $2.5 million and nearly 25 transactions are
below $2 million.
The success of One Riverside isn’t a fluke, said
Carl Dranoff of Dranoff Properties. After completing
Symphony House and undertaking unsold condos
at 10 Rittenhouse and Two Liberty Place, projects
that were taken back by the lender, Dranoff feels
he has a playbook that was successfully deployed at
One Riverside.
“We know what will be highly appealing,” he
said in an earlier interview with the Business
Journal. “We’re an overnight sensation in five years.
It took five years of planning to pull off project like
One Riverside.”
MARCH 23, 2018 23

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In 2017, Hyland Levin LLP real estate lawyers

-No

closed transactions for our clients with a

tf

collective value in excess of

or

$1.3 billion dollars

Our real estate investor clients had a busy year, buying, financing
c

and selling properties in New Jersey, Pennsylvania, Maryland, Virginia,

om

New York, South Carolina and Florida. Our real estate transactional
team led by Mark Shapiro, includes Lauren Beetle, Stacy Asbell, Julie
m

Murphy and Will Hanna. Together, we assisted our clients in over

er

40 transactions involving multi-family, retail, office, warehouse and

cia

commercial properties.
Acquisitions ....................................$119,948,400 of purchase price
lu

Financings ............................................. $908,288,900 of loan value

se

Sales.....................................................$344,259,500 of sales price

How can we help you in 2018?

Mark D. Shapiro Lauren A. Beetle Stacy L. Asbell
856.355.2929 856.355.2913 856.355.2914
shapiro@hylandlevin.com beetle@hylandlevin.com asbell@hylandlevin.com
Julie M. Murphy William F. Hanna
856.355.2992 856.355.2937
murphy@hylandlevin.com hanna@hylandlevin.com

New Jersey Office Philadelphia Office

6000 Sagemore Drive 1524 Locust Street
Suite 6301 Philadelphia, PA 19102
Marlton, New Jersey 08053
www.hylandlevin.com
24  PHILADELPHIA BUSINESS JOURNAL

BRIDGE ON
RACE —
RETAIL LEASE
205 RACE ST.,
PHILADELPHIA
Developer: Brown Hill
Development and Jeffrey
Brown Associates
Am

Broker: Josh Weiss of

MSC Retail
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HONOREE
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Rooms with a view

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BY NATALIE KOSTELNI
lu

D
uring the summer of 2016, Brown Hill
se

Development and Jeffrey Brown Associates

topped off the Bridge, a 17-story apartment
tower at 2nd and Race streets in the Old City
neighborhood of Philadelphia. It was a long time
in the making. Brown Hill has been trying to get
the Bridge, which was once known as 205 Race,
out of the ground for about 15 years.
The project has 146 apartments and 13,480
square feet of ground-floor retail space. The retail
space wraps around the building and involves four
spaces that have been leased out in deals valued at
$6 million.
Three tenants are open in the building: United
by Blue, a new flagship environmentally conscious
apparel brand with a coffee house. It leased 3,463
square feet; Tuna Bar, a sushi restaurant, leased
2,586 square feet; Moxie Blue Salon, which is the
first location of a Marlton, N.J., hair salon; and the
fourth is a yet-to-be-disclosed tenant that rented
4,100 square feet.
MARCH 23, 2018 25

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26  PHILADELPHIA BUSINESS JOURNAL

1213 WALNUT —
PROJECT
DELIVERY
1213 WALNUT ST.,
PHILADELPHIA
Developer: Goldenberg
Group
Am

Financing: Wells Fargo

Architect: Design
er

Collective
Interior Designer: RD
ica

Jones & Associates

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HONOREE
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Apartment living with a hotel feel

or
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BY NATALIE KOSTELNI
m

G
er

oldenberg Group’s newly constructed

cia

apartment building at 1213 Walnut St. in

Center City is the company’s first large-scale,
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high-end apartment tower in Philadelphia.

The $126 million, 26-story building has 322
se

apartments and rose on what was a parking lot.

The Blue Bell developer isn’t foreign to multifamily
development but 1213 Walnut was its first attempt
to capture where apartment living is headed and
Goldenberg thinks that future looks a lot like a hotel,
and 1213 Walnut was designed with this in mind.
The lobby has a front desk akin to a check-in area
and a 24-hour concierge along with a gas fireplace
and comfortable seating. While that sets the tone,
the second floor’s 11,000 square feet is dedicated
to amenities that include televisions, game rooms,
an outdoor patio, catering kitchen, a dog walk and
private alcoves in lieu of a business center.
Much like a hotel, there will be dining nearby. A
5,000-square-foot restaurant will line ground-level
space fronting Walnut Street and another 1,200
square feet of retail space will likely be a café on
Sansom Street. By providing a hotel experience, 1213
Walnut is seeking to differentiate itself amid an ever-
competitive marketplace.
MARCH 23, 2018 27

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28  PHILADELPHIA BUSINESS JOURNAL

ROWAN
UNIVERSITY —
HOLLY POINTE
COMMONS
15 CARPENTER ST.,
GLASSBORO, N.J.
Developer: University
Am

Student Living, a
division of the Michaels
Organization.
er

Architect: Erdy
ica

McHenry Architecture
General Contractor:
n

Torcon Inc.
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s ine

An aerial view of
ss

the project. Rowan

President Ali A.
Jo

Houshmand speaks
ur

at the student housing

na

project.
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BEST UNIVERSITY DEAL | ROWAN UNIVERSITY-HOLLY POINTE COMMONS

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STUDENT GROWTH PLAN

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BY NATALIE KOSTELNI
lu

A
s it continues to shape its campus, Rowan
se

University has been methodically ensuring

it has all of the right elements to attract and
retain students, staff and faculty. One big part of that
is student housing, so Rowan initiated its first-ever
public-private partnership with University Student
Living, which is part of the Michaels Organization,
to develop a $145 million student housing complex
called Holly Pointe Commons.
The 302,900-square-foot complex involves four-
story and seven-story buildings that are connected by
a bridge. Holly Pointe Commons has space for 1,400
freshman, a 20,000-square-foot dining facility that
can seat more than 500 students as well as seminar
rooms and laundry facilities.
The project helps as Rowan grows its student
population, which has swelled by 6,000 during the
past six years. Enrollment is now 16,000 and by 2023,
the school expects that number to be 25,000.
MARCH 23, 2018 29

MRP | PHL RESIDENTIAL

1338 Chestnut Street 400 Walnut Street 1930 Chestnut Street

Philadelphia, PA 19107 Philadelphia, PA 19106 Philadelphia, PA 19103
Am
OFFICE

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111 N Independence Mall E 325 Chestnut Street 400 Market Street 3 Benjamin Franklin Pkwy
Jo

Philadelphia, PA 19106 Philadelphia, PA 19106 Philadelphia, PA 19106 Philadelphia, PA 19102

ur
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award-winning projects excellence in development

630 Sentry Parkway, Suite 300

Blue Bell, PA 19422
goldenberggroup.com • 610.260.9600
30  PHILADELPHIA BUSINESS JOURNAL

TATEL AT THE
BOYD THEATER
— RETAIL LEASE
1910 CHESTNUT ST.,
PHILADELPHIA
Landlord: Pearl
Properties
Am

Architect: Eimer Design

Brokers: Jacob Cooper
and Brittany Goldberg of
er

MSC Retail
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Contractor: Streamline
Solutions
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HONOREE

Theatrical location
ur
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-

BY NATALIE KOSTELNI one of Philadelphia’s High Street Corridors. space. The project will cost $8.7 million. Jason
No

The landlord secured Tatel, a high-end Spanish Kramer and Josh Haber of Binswanger represented

O
ne of the keys to making the development restaurant owned by celebrities that also can be Tatel. Jacob Cooper and Brittany Goldberg of MSC
tf

of the Boyd Theater standout was finding a found at vacation destinations such as Ibiza and Retail represented Pearl Properties, the landlord
or

restaurant that would set the tone for not Miami Beach. and developer. Streamline Solutions is part owner
only the project but the location at 1910 Chestnut Tatel will occupy three floors totaling 13,243 in Tatel and is overseeing the construction of the
c

St., just off Rittenhouse Square in the heart of square feet of what is a totally gutted former theater space.
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MARCH 23, 2018 31

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PHILADELPHIA BUSINESS JOURNAL OPEN NOMINATIONS!

- No
tf
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2018 BEST PLACES TO WORK AWARDS

c om

Do you love where you work? Is your company the best place to work in
Greater Philadelphia? Nominate now to be considered for the 2018 Best
m

Places to Work Awards.

er

NOMINATE HERE
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HTTP://BIZJ.US/1PIIYY
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DEADLINE TO NOMINATE
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FRIDAY, APRIL 20 | 5:00PM

2018 SOARING 76 AWARDS

The Philadelphia Business Journal is launching its third-annual initiative to
identify the fastest-growing companies in the area.
The List will be based on average percent revenue growth over the last three
years. Will your company make the list? Nominate today!

NOMINATE HERE SPONSORED BY:

HTTP://BIZJ.US/1PIUMQ

DEADLINE TO NOMINATE
FRIDAY, JUNE 1 | 5:00PM

Event Questions? Advertising Opportunities?

Angelica Garcia | agarcia@bizjournals.com | 215-238-5111 Sandy Smith | ssmith@bizjournals.com | 215-238-5100
32  PHILADELPHIA BUSINESS JOURNAL

VIEW32
3201 RACE ST.
PHILADELPHIA

SUMMER12
3200 SUMMER ST.
PHILADELPHIA
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An artist’s rendering
of Summer12.
Jo
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DEAL OF THE YEAR | VUE32/SUMMER12

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MULTIFAMILY GOES NEXT L

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impressed the judges. “University City, as a general

lu

BY NATALIE KOSTELNI | NKOSTELNI@BIZJOURNALS.COM

statement, is on the move up,” said David Fahey, prin-

P
se

cipal and managing director at Avison Young, and one

hiladelphia is awash with multifamily family projects. They’ve spread across every of the judges. “This is a little further out and I think is
neighborhood and as a result it can be difficult to notice when something distinctive a great location for new development. I think being
part of a transforming area is part of its significance.”
comes out of the ground. Such is the case with Vue32 and Summer12. ¶ The $60
Edmonds concurred and is hopeful that other
million development at 3201 Race St. and 3200 Summer St. in Powelton Village rose developers will take note. “It’s great to see this kind
on a vacant corner on the Drexel University campus. It involved constructing a 16-story building development moving into a neighborhood,” he said.
“We have to figure out how to get more development
with 164 apartments, a 180-student preschool, and soon 12 for-sale townhouses. While those
into the neighborhoods. It’s not deep inner city, but
details at first blush sound like a typical mixed-use development, Vue32 and Summer12 strove to it’s moving in that direction.”
be anything but and because of that and the challenges it overcame getting started, it has been When Drexel issued a request for proposals for the
development of the parcel at the corner of 32nd and
named the Philadelphia Business Journal’s Deal of the Year.
Race streets, the university had several goals in mind.
It wanted to find a way to increase homeownership in
“First of all, it’s a beautiful project,” said Brian University City has been experiencing a tremen- the community, provide new housing for faculty, staff
Edmonds, managing Director at SVN-The Concordis dous amount of development activity during the last and graduate students and make available a preschool
Group, one of the judges for the Best Real Estate Deals 20 years. Despite that, no large-scale private real estate that would cater to not only those who attend or work
of 2017 that named Vue32 and Summer12 as Project investment had made its way north of Race Street at Drexel but people in the community as well.
of the Year. “It was a huge financial investment, I love until Vue32 was proposed and ultimately completed. The university selected Radnor Property Group to
public-private partnerships — I think that’s the way to The fact that the project stretches development oversee the project’s design, to build it, finance it and
go — and there are so many dynamics to it.” activity in University City up to Powelton Village also own it in an arrangement in which Radnor has a long-
 MARCH 23, 2018 33
Am
er
ica
n
Views of the various
features of Vue32.
LEVEL IN UNIVERSITY CITY
term ground lease with Drexel where Vue32 is located.
This arrangement can bring its own set of challenges.
“Public-private partnerships can make things com-
plicated because of the wants, needs and interest of
each,” Fahey said.
The property had its own set of issues. The final site
involved combining 12 different properties and, as an
assemblage, the parcel was bifurcated by two different
zoning designations. Rather than agreeing to change
the zoning through an ordinance, Radnor Property
first engaged the community and pushed for a vari-
ance, said David Yeager, who formed Radnor Prop-
erty in 1999.
“In that process, we had 14 different zoning vari-
ances, which I have never had to do before,” Yeager
said.
It took six months to go through the communi-
ty engagement process and Radnor Property worked
with District Councilwoman Jannie Blackwell’s office
on that front. The project also went through several
different designs as Radnor Property worked with the
Powelton Village Civic Association to address commu-
nity concerns. There were many.
Ci
ty
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The civic association worried about the influx of
students living in the neighborhood. It’s a family-ori-
ented community and Radnor Property committed
to not renting the apartments to undergraduates but
primarily to graduate students and young profession-
als instead. The civic association didn’t want surface
parking and didn’t want to have the development
obstruct the natural light of a nearby community gar-
den. To solve those issues, Radnor Property moved
the bulk of the building as far east on the site as it
could, extended a western plaza to respect the garden
and create a more light and air, increased the build-
ing height, and buried the parking below the ground.
To accomplish Drexel’s goal of boosting homeown-
ership, the university sold a parcel to Radnor Property
where it is developing the 12 townhouses. The design
of that part of the project was also taken into consid-
eration to respect the scale of the neighborhood. The
townhomes are each four stories and, as a grouping,
was designed to be a transition from the 16-story tow-
er to the lower-scale neighborhood.
Taken as whole, Vue32 and Summer12 captured
how complicated deals ultimately get done and can
make a difference. “What stood out was the full pro-
lu
cess of what it took to put this deal together,” said
se
Anne Klein, executive managing director at Newmark
Knight Frank. “From compiling various parcels, with
a variety of zoning classifications, putting together the
right partnership, and developing something import-
ant to the community — graduate student housing,
child care for professors and students’ children, and
a lot of great amenities too.”
Construction of Vue32 was completed last summer
and the project is more than 50 percent leased and
that’s within the developer’s projections. Because of
its location in University City, the majority of renters
are Drexel faculty and staff and young professionals
working at Children’s Hospital of Philadelphia, the
University of Pennsylvania and other nearby institu-
tions. A small percentage of residents are those who
commute to New York. Work on the foundation for
Summer12 is just getting underway and the town-
houses are priced to sell for between $375,000 and
$450,000.
“We have reservations for them already,” Yeager
said. “That shows the demand in the market.”
34  PHILADELPHIA BUSINESS JOURNAL

WYNNE SENIOR
RESIDENCE
2001 N. 54TH ST.,
PHILADELPHIA

Developer: Pennrose
Architect: K&A
Am

Architectural Services
General Contractor:
er

Domus Inc.
ica
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BEST ADAPTIVE REUSE — WYNNE SENIOR RESIDENCE

ADAPTING A MARQUEE PROPERTY

BY NATALIE KOSTELNI It was always a significant part of the community. incorporated to hark back to the property’s past as
An effort among the Wynnefield Overbrook the Wynne Theater.

P
ennrose embarked on redeveloping the
former Wynne Theater, which is a landmark
that dates back to 1927. Though the building
at 2001 N. 54th St. in the Wynnfield/Overbrook
section of Philadelphia started out as a theater, but
has played many different roles over the decades,
including a banquet hall and entertainment venues.
Revitalization Corp., the Philadelphia
Redevelopment Authority and Pennrose led to
the revitalization of the property into Wynne
Senior Residence, a 51-unit affordable housing
development for seniors. While a new four-story
building was constructed, design elements,
including a replica 20-foot tall marquee, were
The project also has several amenities for the
residential community such as a gathering space,
fitness room and computer-library room. In
addition, 1,200 square feet of retail space with
room for an outdoor cafe was added to bring some
vibrancy to the neighborhood.
MARCH 23, 2018 35

CONGRATULATIONS
Don Hinkle-Brown
President & CEO at Reinvestment Fund
on being named

Economic Development Champion of

Am

Greater Philadelphia
er

by the Philadelphia Business Journal

ica
n
Ci
ty

Reinvestment Fund is a catalyst for change in low-income communities. We integrate data,

policy and strategic investments to improve the quality of life in low-income neighborhoods.
Bu

Reinvestment Fund manages $1 billion incapital and has invested $2 billion nationally.
s ine
ss

Reinvestment.com
Twitter - @reinvestfund
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SAVE THE DATE:

MAY 10 | 5-8PM
SUGARHOUSE CASINO
Join the Philadelphia Business Journal for our Forty Under 40 Awards, celebrating the region’s rising stars. Mix and
mingle with new and current clients, brand your organization to local business leaders and honor our winners!
This evening cocktail reception draws a large audience of local movers and shakers – don’t miss it!

Event questions? Contact Angelica Garcia, Events Director at agarcia@bizjournals.com

Sponsorship or special section questions? Contact Sandy Smith at ssmith@bizjournals.com
36  PHILADELPHIA BUSINESS JOURNAL

CENTRE SQUARE
1500 MARKET ST.,
PHILADELPHIA
Buyer: Nightingale
Group
Seller: Equity
Commonwealth
Brokers: Robert Fahey
Am

and Jerry Kranzel of

CBRE Inc.
er
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BEST SALE | CENTRE SQUARE

om

$328M FOR A PRIME SPOT

m
er
cia

BY NATALIE KOSTELNI investment trust sold the former and redeveloped Post
lu

Office building across from 30th Street Station for $354

A
se

partnership involving Nightingale Group, a New million.

York real estate firm, bought Centre Square for
$328 million, or $187.47 a square foot.
The 1.8 million-square-foot complex, which is referred
to as the Clothespin Building for the iconic sculpture by
Claes Oldenburg, was 91 percent leased at the time of the
sale and is among one of the largest office deals based on
square footage in the city. Equity Commonwealth was
the seller and had put the two-building property on the
market in March 2016. It is among one of the largest office
properties to trade in Philadelphia and one of the largest
in terms of dollar amount.
Other big sales in recent years include several involving
Brandywine Realty Trust. In 2013, Brandywine finalized
buying One and Two Commerce Square, a 2.2 million-
square-foot complex in Center City for $331.8 million,
or $175 a square foot. In another deal, the real estate
Centre Square, built in 1974, consists of a 36-story
East Tower and a 43-story West Tower. Large multifloor
tenants dominate the complex. Radian, the University
of Pennsylvania Health System, Towers Watson, Public
Health Management Corp, Saul Ewing, and Comcast Corp.
are among the companies occupying space in the property.
In addition, it has a 450-space parking garage as well as
41,000 square feet of retail space.
It’s anticipated the new owner will launch a series
of capital improvements. There’s room for millions to
be spent on redoing Centre Square’s drab, dated lobby,
sealing up leaky skylights, as well as reactivating its front
plaza where the famed Clothespin sculpture stands.
Robert Fahey and Jerry Kranzel of CBRE Capital
Markets represented Equity Commonwealth in the sale of
Centre Square.
MARCH 23, 2018 37

WE FURNISH SOLUTIONS!
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Visit us at the Harleysville Home Show, Indian Valley Middle School

Friday, March 23rd, 7pm - 9pm and Saturday, March 24th, 9am - 4pm
38  PHILADELPHIA BUSINESS JOURNAL

COMMONWEALTH
CAMPUS
2301 E. ALLEGHENY AVE.
PHILADELPHIA
Developer: BG Capital
Architect: Lighthouse
Architecture
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HONOREE
na

Better days ahead

ls
- No

BY NATALIE KOSTELNI University and Pediatric Dental. Through its redevelopment,

tf

BG capital was able to land a new major tenant to the property,

or

B
G Capital paid $18.48 million for the Northeastern signing the Drug and Alcohol Rehabilitation Center to 55,000
Hospital, which had seen better days. The square feet of space. The company also bought a surface
c om

237,472-square-foot complex sits on 17.42 acres at 2301 parking lot across the street that totals 10.59 acres where
E. Allegheny Ave. in Philadelphia and the goal of BG Capital it will construct a 144,000-square-foot drug and alcohol
m

was to reposition it as an updated medical office complex treatment facility. BG Capital has invested $51.65 million in
er

called the Commonwealth Campus. repositioning the Commonwealth Campus.

The property already had a strong anchor tenant in Temple
cia
lu
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MARCH 23, 2018 39

Franklin’s

S H O PSATPE N N .CO M
Table DOMUS CONGRATULATES PENNROSE AND

Food Hall: IS PROUD TO BE PART OF THE TEAM!

Best Real
Estate Deals
Am
er

of 2017
ica
n
Ci

General Contractors, Preconstruction and Construction Management

ty
Bu

3401 Walnut Street

s

Philadelphia, PA
ine

Visit us at www.domusinc.net or contact us at

marketing@domusinc.net for
ss

#S HOPPE N N more information

@S HOPSATPE N N
Jo

346 East Walnut Lane Philadelphia, PA 19144

ur
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WHO WILL BE AWARDED 2018 CFO OF THE YEAR?

NOMINATE TODAY: http://bizj.us/1pjcx3
DEADLINE: FRIDAY, MAY 18 | 5:00PM

PROGRAM SPONSORS
40  PHILADELPHIA BUSINESS JOURNAL

CENLAR FSB-
OFFICE LEASE
780 TOWNSHIP LINE
ROAD, YARDLEY
Landlord: W.P. Carey
Scope of Deal: 105,584
square feet of office
Am

space
Brokers: Steve Tolkach,
Neil Brazitis and Sid
er

Smith Newmark Knight

ica

Frank; Tom Weitzel and

Patric Grenko of JLL.
n
Ci
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Bu
s ine
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HONOREE

Tenants shuffled for big lease

Jo
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ls

BY NATALIE KOSTELNI Frank identified a 105,584-square-foot building at 780

-

Township Line Road in Yardley that would work, but the only
No

C
enlar FSB is a loan servicing firm based in Ewing, problem was it was occupied by several tenants. Tom Weitzel
N.J., that wanted to expand into the Pennsylvania and and Patrick Grenko of JLL represented the landlord, W.P.
tf

wanted to do so quickly. A team consisting of Steve Carey, in helping to relocate those tenants, thereby making
or

Tolkach, Neil Brazitis and Sid Smith of Newmark Knight the entire property available for Cenlar FSB.
c om
m
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cia
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MARCH 23, 2018 41

is pleased to announce

HELPING TO BUILD A STRONG FOUNDATION

FOR PENNSYLVANIA’S FUTURE
PROPERTY DUE DILIGENCE has renewed
its lease at
BROWNFIELDS SERVICES
SITE INVESTIGATION AND REMEDIATION
ENVIRONMENTAL COMPLIANCE
Am

GEOTECHNICAL/FOUNDATION ENGINEERING
WATERFRONT/MARINE ENGINEERING
CONSTRUCTION SUPPORT
er
ica

For more information, contact:

CBRE occupies 15,000 sf
n

Ernest Hanna, PE, 267.464.3612, ernest.hanna@gza.com at Center City’s New Two.

Ci

John Oberer, LSRP, 609.209.2823, john.oberer@gza.com

Special thanks to Tony Rossi of CBRE
ty

www.gza.com
Bu
s

for leasing information

ine
ss

Morgan Murray Joe McManus

215.561.8961 215.561.8960
morgan.murray@cbre.com joe.mcmanus@cbre.com
Jo
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-No
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42  PHILADELPHIA BUSINESS JOURNAL

Am
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ica
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Ci
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Rendering of downtown NoBA District

Jo
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-No

THANKS TO
tf

NOBA DISTRICT- BERNARDON –

ACQUISITION/
or

LOWER MERION T
DESIGN ARMY
CONSTRUCTION
c om

10 UNION AVE., 1
CYNWYD ROAD, 200
BALA AVE IN BALA
m

CYNWYD
er

Developer: Cross
Properties
cia

Architect: Bernardon
lu

Bank: Beneficial Bank

HONOREE
se

It takes a village
BY NATALIE KOSTELNI and the Dane is an existing apartment building on
Bryn Mawr Avenue across from the Wynnefield train

C
ross Properties is focusing on a corner of
Lower Merion’s Bala Village that has all but
been ignored for years, planning to spend
roughly $150 million to develop its own little village
in the area branded as NoBA.
In separate transactions, the developer assembled
14 different properties and will create four distinct
projects that will reshape a part of Bala Cynwyd that
has been on the township’s radar for years.
Cross currently has two projects under
development: The Kelly will have 109 apartments
station that Cross will redevelop. A third project
called the Grant will go on five properties that
Cross purchased on Cynwyd Road. It will have 70
apartments once completed along with 7,000 square
feet of retail space. The final component, called the
Mayer — 80 units and 10,000 square feet of retail
space — will also go on a five-property assemblage
along Bala Avenue.
All of the projects are scheduled to be completed
by 2020 and advance a vision of reviving an enclave
in Lower Merion.
MARCH 23, 2018 43

SUBSCRIBERS GET MORE.

Non-Subscriber

Subscriber

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to grow your business.

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ica

– Exclusive Business News: Develop a deeper understanding of local issues and

trends in your community. Discover what’s at stake for you and your business. the Philadelphia Business Journal’s
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44  PHILADELPHIA BUSINESS JOURNAL

THE VIEW-PHASE
II-FINANCING
12TH STREET AND CECIL
B. MOORE AVENUE,
PHILADELPHIA
Developer: Goldenberg
Group
Financing: Goldman
Am

Sachs & Co.’s Broad

Street Real Estate
er

Credit Partners III fund

provided $163 million in
ica

nonrecourse financing
for the development.
n

Ackman-Ziff served
as capital adviser to
Ci

Goldenberg.
ty

General Contractor:
Intech Construction
Bu

Architect: Niles Bolton

of Atlanta
s
ine
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HONOREE
Jo

Project rises on former high school site

ur
na
ls
-No

BY NATALIE KOSTELNI

C
tf

onstruction started last fall on a $199

or

million student housing project next

to Temple University’s main campus in
c

Philadelphia that will be a companion to the View

om

at Montgomery.
The Goldenberg Group of Blue Bell is the driver of
m

the 470,000-square-foot development at 12th Street

er

and Cecil B. Moore Avenue that is referred to as View

cia

II. It is being developed on the site of the former

John Wanamaker High School, which Goldenberg
lu

purchased in 2008 for $10.75 million and where

it set out to build a two-phased master-planned
se

student housing community.

The View II project will have 368 residences and
a total of 984 beds. The units will be fully furnished
and include amenities like a 24-hour concierge,
coffee bar and fitness center. There will be 30,000
square feet of ground-level retail, restaurant and
commercial spaces.
The View at Montgomery was the first phase
of the plan to redevelop the former Wanamaker
site. That project involved a $100 million 14-story,
320,000-square-foot building with 832 beds in 238
residences along with 11,000 square feet of first-
floor retail. It opened in 2014 and has been fully
occupied ever since.
View II is the final phase of the redevelopment of
the 4.6-acre parcel and is expected to be complete
in the summer of 2019.
MARCH 23, 2018 45

A special thanks to
Fred Chiarlanza
for his time and commitment
to EBA
Amy Hennessey, Executive Director
amy@employingbricklayers.org
610-834-8400
Congratulations to Radnor Property Group
Honoree for Best Real Estate Deals of 2017
Am

Vue32/Summer12
er
ica
n

GET OUR NEWS

Ci
ty

ALL DAY ON TWITTER.

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@PHLBizJournal
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Celebrating 100 Years in the Construction Industry

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TNWard.com
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TNWard_PhilaBusinessJournal_BestRealEstateDeals2017Ad_03-16-18.indd 1 3/16/2018 1:58:52 PM

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- No
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RADNOR PROPERTY GROUP &

m

DREXEL UNIVERSITY
er
cia

A CREATIVE PARTNERSHIP
lu
se

ENHANCING COMMUNITY SERVICES

AND PROVIDING NEW RESIDENTIAL
HOUSING OPPORTUNITIES IN THE
HEART OF UNIVERSITY CITY.

vue32.com
46  PHILADELPHIA BUSINESS JOURNAL

ASTRAZENECA’S
NORTH CAMPUS
1800 CONCORD PIKE,
WILMINGTON
Buyer: Delle Donne
Associates
Seller: AstraZeneca
Am

Pharmaceuticals
Brokers: Jim Galbally
and Blaise Fletcher of JLL
er
ica
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BEST SALE/LEASEBACK | ASTRAZENECA’S NORTH CAMPUS

er

A DEAL TO SELL BUT STAY PUT

cia
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BY NATALIE KOSTELNI property on Concord Pike or relocate to another loca- three-stories and 153,949 square feet. That 58-acre par-
tion in Delaware. The company has 1,500 employees cel has been approved for an additional 832,000 square

A
straZeneca Pharmaceuticals sold its North
American headquarters in Wilmington for
$50 million in a transaction that further
shrunk its presence in Delaware.
Referred to as its north campus, the property con-
sists of four main office buildings totaling 865,000
square feet along with a 621-space parking garage on
79 acres at 1800 Concord Pike. An affiliate of Delle Don-
ne Associates purchased the campus and leased it back
on a long-term basis 371,000 square feet in two of its
buildings — Brandywine and Alapocas — to AstraZenca.
In 2016, AstraZeneca began looking at whether it
would keep its North American headquarters at its
working in the state.
The company decided staying at 1800 Concord Pike
and pursuing a sale and leaseback arrangement with
a real estate investor worked best to ensure it would
have the space to meet its present and future needs. The
company plans to update the space while at the same
time reducing operating expenses.
The sale came on the heels of the pharmaceuti-
cal company selling other properties it owned in the
Wilmington area. It unloaded its south campus,which
is located off Concord Pike, in 2014 for $44 million.
JPMorgan Chase bought the two buildings — a four-sto-
ry, 203,602-square-foot structure and another that is
feet of office space.
In 2013, AstraZeneca sold the Rollins building, a
15-story, 200,000-square-foot office structure at 2200
Concord Pike for $10.5 million. AstraZeneca Phar-
maceuticals, which had previously vacated the entire
building, bought the property 15 years ago for about
$37.9 million. AstraZeneca also sold a day care facility
it had maintained near its campus. The company does
continue to own a manufacturing plant on Old Balti-
more Pike in Newark, Del.
Jim Galbally and Blaise Fletcher of JLL arranged the
1800 Concord transaction.
MARCH 23, 2018 47

FRANKLIN’S
TABLE FOOD
HALL
3400 WALNUT ST.,
PHILADELPHIA
Broker: MSC Retail
Am
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s ine
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Jo

BEST RETAIL LEASE | FRANKLIN’S TABLE FOOD HALL

ur

NEW MENU FOR STUDENTS

na
ls
- No

BY NATALIE KOSTELNI a scaled-down outpost of the restaurant in Fishtown; the

Juice Merchant Juicery and Cafe; Little Baby’s Ice Cream;

P
tf

hiladelphia has embraced the food hall concept Double Knot Sushi; and High Street Provisions. MSC Retail
or

with vigor and University City was due for one. wanted to find purveyors who were “Best in Class,” had
The University of Pennsylvania sought to fill a strong brand recognition in Philadelphia and would
c

that void with a 10,000-square-foot first-to-market provide a variety of offerings that weren’t already in
om

food hall in the former Moravian Food Court at 3400 University City.
Walnut St. Thus, Franklin’s Table Food Hall was born. Franklin’s Table Food Hall is part of a retail master plan
m

MSC Real Estate was responsible for leasing the space. that the University of Pennsylvania adopted in 2015 that
er

The space has 174 indoor seats and seven food stalls. seeks to make University City a destination for shopping,
cia

Among the tenants are: Goldie by CooknSolo restaurant dining and tourism.
group; Pitruco Pizza, which is a brick-and-mortar version
lu

of the food truck of the same name; Kensington Quarters,

se

Rendering of downtown NoBA District

THANKS TO OUR PARTNERS

BERNARDON – BARTON – KEN AARON
LOWER MERION TOWNSHIP – RIVAL BROS
DESIGN ARMY – YOHN ENGINEERING

@NOBADISTRICT
48  PHILADELPHIA BUSINESS JOURNAL

Views of
NORTHERN EDGE
properties in
421 N. 7TH ST., 417 N. the Northern
8TH ST., 444 N. 3RD Edge.
ST., 437-461 N. 3RD ST.,
309-315 CALLOWHILL
ST. 827 SPRING GARDEN
ST. AND 600 SPRING
GARDEN, PHILADELPHIA
Am

Developer: Arts & Crafts

Holdings
er
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BEST MULTI-PROPERTY ASSEMBLAGE | NORTHERN EDGE

tf
or

LIVING ON THE EDGE

c om
m

BY NATALIE KOSTELNI
er

D
uring the last two years, Arts & Crafts
cia

Holdings has invested $150 million acquiring

20 properties of which eight are multitenant
lu

office buildings so far comprising this fledgling but

se

growing office submarket. The company earlier this

year sealed up another deal to bolster its position
and acquired a portfolio of four properties for $30.5
million.
All of these buildings are located on and around
Spring Garden Street, stretching down to Ridge
Avenue across to North 3rd Street. Some people refer
to the area as Callowhill, others call it Chinatown
North, but it is now being branded with new names:
Spring Arts and the growing office submarket 421 N. 7th St. is one property that is part of the assemblage.
portion of it is being dubbed Northern Edge. If
a company leased office space there, it would be
leasing space in the Northern Edge of Spring Arts.
There has been early signs of success at Northern
Edge. Tenants are moving into the buildings and
many are excited to be part of something new that is
emerging in Philadelphia.
MARCH 23, 2018 49

PHILADELPHIA BUSINESS JOURNAL

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c om

Sponsorship opportunities? Contact Sandy Smith at

ssmith@bizjournals.com or 215-238-5100
m
er
cia

CONGRATULATIONS 2018 HONOREES

lu
se

AC Moore Arts & Citizens Bank with Main Line Accounting Philadelphia
Crafts Inc. with Citizens Champions with Philadelphia Homeowner
Easterseals in Action Youth Basketball Resource with
Rebuilding Together
Akin Gump Strauss CMI/Compas with NewSpring Capital Philadelphia
Hauer & Feld Liguori Academy with The Greenlight
(Philadelphia office) Fund Vanguard Group with
Evolve IP with Junior
with Support Center Children’s Hospital of
Achievement PECO and
for Child Advocates Philadelphia
Philadelphia Zoo
Co-Sponsor: FS Investments with
AmerisourceBergen Wells Fargo with
ACHIEVability Philadelphia Eagles
and Toll Brothers with National Adoption
with Children’s
CEOs Against Cancer Independence Blue Center
Hospital of
Cross with Justice
Benjamin’s Desk/1776 Philadelphia White and Williams
with Episcopal Center for Research, with Adopt A School
Community Services Penn State University PNC Bank with United Initiative
Way of Greater
Berkshire Hathaway KPMG with First Philadelphia and
Book and People’s
HomeServices with Southern New Jersey
Emergency Center
Cradles to Crayons
50  PHILADELPHIA BUSINESS JOURNAL

VERTEX INC.
2301 RENAISSANCE
BLVD., KING OF PRUSSIA
Landlord at the time
of the lease: Liberty
Property Group
Architect and Interior
Designer: Francis
Am

Cauffman
er
ica
n
Ci
ty
Bu
s ine
ss
Jo
ur
na
ls
- No
tf
or
c om

BEST NEW HEADQUARTERS | VERTEX INC.

FROM 7 SITES TO 1 HQ
m
er
cia
lu

BY NATALIE KOSTELNI it had occupied in seven buildings. Those properties

included five buildings totaling 130,000 square feet
se

V
ertex Inc. signed an 11-year lease on 168,000
square feet at 2301 Renaissance Blvd. in King
of Prussia, moving from a complex at 1041
Old Cassatt Road in Berwyn. Matt Feeney of Cresa
Partners represented the company in its search.
Vertex invested $23.5 million in the space
including installing new technology equipment,
furniture and other additions. It received $1.2
million from Pennsylvania in the form of grants and
tax credits for creating 225 new jobs over the next
five years. The company, which provides corporate
tax software and solutions, has 560 employees
throughout the region and 850 employees
worldwide.
Vertex search for a new home had been going
on for a couple of years and it considered multiple
options including staying put in 190,000 square feet
off Cassatt Road in Berwyn where it had been since
1987, as well as space it occupied in the Freedom
Business Center and Chesterbrook Corporate Center.
The benefits of consolidating into a single
building led Vertex to also pursue other options.
It looked at multiple buildings in an area bound
by Exton, Plymouth Meeting, Conshohocken,
West Conshohocken and Newtown Square. The
Renaissance Boulevard property rose to the top of its
list for several reasons.
It allowed the company to consolidate into
a single space, it had large floorplates that gave
it flexibility in design and configuration, it had
abundant natural light, access to food and fitness,
as well as being centrally located. The building on
Renaissance Boulevard totals 190,000 square feet.
MARCH 23, 2018 51

HONOREE

Rubenstein acquires landmark

BY NATALIE KOSTELNI

I
t took nearly two years to wind
through what was called a complicated
WANAMAKER — transaction, but the Wanamaker
SALE/ building, one of Center City’s largest and
FINANCING most well-known structures, took on a
1300 MARKET ST., new ownership partner last year.
PHILADELPHIA Rubenstein Partners of Philadelphia
Buyer: Rubenstein paid $194 million to acquire a majority
Partners ownership stake in the landmark
Seller: TIER-REIT building at 100 Penn Square East. The
Am

Financing: Beneficial deal brought Rubenstein back into the

Bank Philadelphia office market. Amerimar
er

Brokers: Jim Galbally, Partners continues to own an interest in

Chad Orcutt and John
ica

the property.
Plower of JLL The process to reach closing was
n

lengthy – mainly because it concerned

Ci

a lot of different parties. There were

four unrelated entities involved in the
ty

building’s air rights; two loans, with at

Bu

least one that needed to be assumed;

the office and garage components were
s

collateralized separately; and three existing

ine

financing and the seller was TIER-REIT. is occupied by Macy’s across three floors
parties were involved in the sale.
The 12-story structure totals 1.4 million through 2027. The remainder is office space.
Jim Galbally, Chad Orcutt and John
ss

square feet, making it the second-largest The property also has a 660-space parking
Plower of JLL marketed the building and
building in the city’s Central Business garage.
JLL was also involved in financing the
Jo

District. Of that space, 450,000 square feet

transaction. Beneficial Bank provided
ur
na
ls

"The space makes a huge difference.

-

The new office fosters innovation and

Let us
No

unleashes the creativity of our staff."

tf
or

ANDREW APRILL PRESIDENT AND OWNER, BIOVID

c

tackle your
om
m
er

toughest
cia
lu
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project.

Biovid Corporation
Congratulations
on being chosen as
one of the top ARCHITECTS
clemensconstruction.com
Cool Offices of 2017 WWW.KSSARCHITECTS.COM
52  PHILADELPHIA BUSINESS JOURNAL

CAPITAL ONE
802 DELAWARE AVE.,
WILMINGTON, DEL.
Landlord: Equity
Commonwealth
Brokers: Neal Dangello,
Wills Elliman, Jeff Mack
and Brett DiClemente of
Am

Newmark Knight Frank

er
ica
n
Ci
ty
Bu
s ine
ss
Jo
ur

BEST LEASE RENEWAL | CAPITAL ONE

na

STAYING IN WILMINGTON
ls
- No

BY NATALIE KOSTELNI
tf

A
or

s its lease was nearing expiration, Capital One re-

evaluated its real estate options, including where it
c

might lease or even develop a new building along the

om

Christina Riverfront in Delaware. In the end, the financial

institution signed concurrent 10-year leases on a total
m

of 330,000 square feet at 800 and 802 Delaware Ave. in

er

Wilmington. The company has 2,200 employees in the city.

cia

The lease not only meant that Capital One was making a
long-term commitment to Wilmington but also allowed it
lu

to consolidate its employees into two buildings rather than

be scattered around the city. The bank signed a new lease
se

240,000 square feet of space at its existing offices at 802

Delaware, where it has been since 2011 when it bought ING
Direct. Though it will remain in that space, it signed a new
lease on 90,000 square feet at 800 Delaware. Neal Dangello,
Wills Elliman, Jeff Mack and Brett DiClemente of Newmark
Knight Frank arranged the transaction.
MARCH 23, 2018 53

EASTERN TOWER
1001 VINE ST.,
PHILADELPHIA
Am
er
ica
n
Ci
ty
Bu
s ine
ss
Jo
ur
na
ls
- No
tf
or
c om
m
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BEST FINANCING | EASTERN TOWER

lu

SOURCES FOR CHINATOWN TOWER

se

BY NATALIE KOSTELNI is a signature development that will establish a new The building will sit on three parcels totaling
anchor for the community. PCDC worked for six nearly a half-acre at 10th and Vine. It will have

T
he Philadelphia Chinatown Development Corp.
closed last year on $75 million financing and
began construction of Eastern Tower, a 20-sto-
ry, 200,000-square-foot mixed-use project at 10th and
Vine streets in Philadelphia.
The project is being developed by PCDC and
JNA Capital Inc. Eastern Tower will be the largest
project to be built in Chinatown and the biggest to
be developed by a community-based nonprofit in
Philadelphia.
The project has been in the works since 2011 and
years to finance the project before lining up several
funding sources.
For example, it received: $1.3 million from
Pennsylvania’s Redevelopment Assistance Capital
Program; $42 million in senior debt from two banks;
$33 million in so-called EB-5 funds; $1 million
from the William Penn Foundation; and an earlier
commitment of $3.7 million from the state as well
as $9 million New Market Tax Credits that will go
toward building the project. These are just some of
the funding sources that were tapped for the project.
150 apartments, 18,000 square feet of office space,
17,000 square feet of community space, as well
as room for an early childhood learning center.
It will also have 30,000 square feet of retail and
commercial space. It has long been the vision of
the leaders in Chinatown to push development
north of Vine Street, which literally bisected the
community. It is hoped that Eastern Tower will
attract more activity in that direction.
54  PHILADELPHIA BUSINESS JOURNAL

SONO
456 N. 5TH ST.,
PHILADELPHIA
Landlord: Alliance
Partners HSP
Am
er
ica
n
Ci
ty
Bu
s ine
ss
Jo
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na
ls
- No
tf
or
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BEST REDEVELOPMENT | SONO

om

THE COOLEST KID ON THE BLOCK

m
er
cia

BY NATALIE KOSTELNI what we had planned. We were hungry and these

lu

TARGET

are the fish we caught.”

W
se

hen Target Corp. signed a lease to open YARDS

Steve Niggeman of Metro Commercial Real Estate
BREWING COMPANY

its fifth small format store, it chose
Philadelphia’s Northern Liberties
neighborhood. The retailer was expanding again,
but the decision meant more than that.
Target signed a lease on 47,000 square feet at 456
N. 5th St., a building that used to house Destination
Maternity, and had been under redevelopment by
Alliance Partners HSP, a Bryn Mawr real estate firm
since it bought it in 2014 for $14 million.
The Target lease also meant that the building,
which has 185,000 square feet of leasable space,
was fully occupied. Other tenants include Yards
Brewing Co., which took 69,762 square feet, and the
Philadelphia Department of Records and Archives,
which signed a lease on 67,868 square feet.
CITY
ARCHIVES
“We’re really excited,” Alliance founder and
Managing Partner Richard R. Previdi said in an
earler interview with the Philadelphia Business
Journal when the Target lease was announced last
year. “It would be funny if I could say this is exactly
represented Target in the lease.
Alliance bought the building four years ago when
it was focused on buying properties in urban areas
rather than suburban. It first wanted to convert
the old warehouse into creative office space. At one
point, the Market Place Design Center considered it
as a possible site to relocate.
With office tenants looking at the building but
not signing any leases, Alliance moved to get the
property rezoned to accommodate a mix of uses
and rebranded it as SoNo. The change in zoning gave
it more flexibility in what tenants it could attract
to the space. It worked. The $35 million project has
become an anchor in Northern Liberties and is part
of its continued gentrification.
MARCH 23, 2018 55

FIRST JUDICIAL
DISTRICT —
OFFICE LEASE
714 MARKET ST.,
PHILADELPHIA
Brokers: Michael Kane
of CBRE Inc. and Vince
Am

Jolly of CVA Commercial

Group
er
ica
n
Ci

HONOREE
ty

New home along East Market

Bu
s ine
ss

BY NATALIE KOSTELNI
Jo

W
hen Alterra Property Group decided
ur

to buy a 177,000-square-foot office

na

building at 1401 Arch St. called

One City Place and convert the building into
ls

apartments, it meant the Philadelphia building’s

-

lead tenant needed a new home.

No

The First Judicial District of Pennsylvania’s

Probation and Pretrial Departments relocated
tf

several blocks to the east. It signed a 15-year

or

lease on 120,000 square feet at 714 Market St. and

is expected to move in by year end. The deal is
c

valued at $50 million. Michael Kane of CBRE Inc.

om

represented the tenant in the lease negotiations

while Vince Jolly of CVA Commercial Group
m

represented the landlord.

er
cia
lu
se
56  PHILADELPHIA BUSINESS JOURNAL
BEST REAL ESTATE DEALS OF 2017 | ECONOMIC DEVELOPMENT CHAMPIONS
AMY GUTMANN
PRESIDENT, UNIVERSITY
OF PENNSYLVANIA
The University of Pennsylvania’s influ-
ence on Greater Philadelphia is huge –
economically and academically. In 2015,
Econsult Solutions found that the uni-
versity and Penn Medicine had a com-
bined annual economic impact of more
than $14 billion. According to that report,
Penn generates $1 out of every $20 in
Philadelphia’s general fund and one of
Last year, the
Am
every nine jobs in Philadelphia.
Philadelphia Business
Under President Amy Gutmann, who
Journal started a new
has held the position since 2004, Penn
er
tradition as part of
our Best Real Estate has become widely known for its inno-
ica
Deals Celebration. We vative and successful campus redevel-
honor the Economic opment plan that includes expansion on
n
Development
both sides of the Schuylkill River. The
Champions of Greater
Ci
Philadelphia. This award university took a risk in 2010 when it
ty
is designed to honor
people who have gone
Bu
above and beyond
to create a business-
s
friendly environment in
ine
DONALD
Greater Philadelphia –
indeed, an environment
ss
where the real estate
market continues to be
vibrant and healthy.
HINKLE-
Jo
BROWN
PRESIDENT AND CEO,
REINVESTMENT FUND
Since its formation in 1985, Reinvestment
Fund has invested $2 billion in commu-
nities and people who would largely be
ignored if the fund didn’t exist. It was cre-
ated in Philadelphia to fulfill a mission,
described as “wealth and opportunity for
low-wealth people and places through the
promotion of socially and environmentally
responsible development.”
Using analytical and financial tools, the
fund helps bring grocery stores, afford-
able housing, schools and health centers
THE AMAZON
HQ2 TEAM
Philadelphia may or may not land the
coveted second Amazon headquarters
project and its estimated 50,000 jobs. But
the region’s effort to lure the giant online
retailer was an inspiration.
Indeed, the process inspired the region
to look closely at its strengths and weak-
nesses – and celebrate or confront them.
What we found is that our strengths vast-
ly outweigh our problems.
“The support we received from the
leaders and the residents of this region
JEFF FUSCO
bought a former DuPont property on the
east side of the river to build an inno-
vation hub that was designed to change
Penn’s reputation as lagging in technol-
ur
na
ls
-
No
tf
or
c om
CHRISK PHOTOGRAPHY
m
to areas that need better access to those
er
kinds of community anchors. Business-
es and organizations assisted by the fund
cia
lu
se
in preparing our bid for HQ2 is really
inspiring – not only because we received
so much support, but also because we
received it from so many different types
of people,” said Philadelphia Mayor Jim
Kenney in October, after the initial bid
was submitted.
The leaders of the bid were the city,
PIDC, Select Greater Philadelphia, the
Chamber of Commerce Serving Great-
er Philadelphia, PHLCVB and Visit
ogy transfer – the commercialization of
university research.
The result was the 2016 opening of
the Pennovation Works campus, which
it describes as “a unique blend of offices,
labs, and production space being devel-
oped by the University of Pennsylvania to
bridge the intellectual and entrepreneur-
ial initiatives for advancing knowledge
and generating economic development.”
The first part of the project – the Penno-
vation Center – is a 58,000-square-foot
business incubator and laboratory.
Gutmann could have played it safe and
simply managed the status quo of one
of the world’s greatest universities. She
didn’t – and the result is that Penn is an
even mightier economic engine for the
city, the region and the state.
have created 26,830 jobs and are now fill-
ing 19.1 million square feet of commercial
and community facility space.
Under the leadership of Don Hin-
kle-Brown, Reinvestment Fund has con-
tinued to expand beyond Philadelphia,
getting involved in more projects and
maintaining its AA credit rating from S&P
Global Ratings. During his tenure, Rein-
vestment Fund launched ReFresh, the
nation’s first practitioner network of com-
munity lenders committed to improving
access to healthy food for all Americans.
He has also been instrumental in shaping
strategies that leverage efforts at the inter-
section of health and community devel-
opment to build thriving communities,
including Reinvestment Fund’s pioneering
multisector initiative in partnership with
Robert Wood Johnson Foundation, Invest
Health.
Philadelphia.
But the effort went much deeper than
that. More than 65 college and universi-
ty presidents and over 150 business lead-
ers signed letters of support for Philadel-
phia’s bid. More than 90 entrepreneurs
and tech startups also provided testimo-
nials. Wharton students organized two
different competitions around the bid
and Campus Philly surveyed local stu-
dents about how HQ2 would affect them.
MARCH 23, 2018 57

COOLEST OFFICES

You WANT to work here

1 2

This year, the Business

Journal added an
exciting new feature
to our Best Real Estate
Deals of the Year
program – Coolest
Offices of the Year.
Each Monday
throughout the year,
Am

the Business Journal

features a Cool Office
3
er

that’s innovative
in some way –
ica

architecture, interior
design, ergonomics,
n

etc. The editorial board

Ci

picked 10 finalists
shown here and our
ty

ultimate winner, The

Archer Group.
Bu
s
ine

9 10 4
ss
Jo
ur
na
ls
- No
tf

5
or
c om
m
er
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se

8 7 6

1) Located at 21 S. 11th St., The Yard offers tenant options, including private offices and
conference rooms, and even a virtual office option. 2) The funky digs of Archer Group
of Wilmington. 3) The pharmaceutical marketing firm BioVid transformed a 19th century
Canal Works warehouse. 4) Govberg Jewelers’ owner Danny Govberg with life-size Hulk
statue. 5) It was originally a convent in the 1930s, now it’s part of Holy Redeemer Health
System. 6) IntegriChain’s downtown space has columns, neon lights and a restaurant
feel. 7) Everything from indoor planter boxes, exposed brick walls and high ceilings at
Muhlenhaupt + Co. in Philadelphia. 8) Local coworking space Pipeline Philly has seemingly
an endless number of couches, chairs and other places to sit. 9) From Vincent van Gogh
pixel art to standing desks, O3 World has a sweet setup in Philadelphia. 10) Complete with
a shuffleboard, the headquarters of the industrial security company, NextGen Security,
has pops of orange, funky stools and a green shag carpet.
58  PHILADELPHIA BUSINESS JOURNAL
PROMOTION
LESLIE J.
HUDSON GERHARD
Vice President
S. T. Hudson Engineers, Inc.
Newly promoted Vice President
Leslie Hudson, a University of
Delaware graduate, joined S. T.
Hudson Engineers in 2004 and
is responsible for day-to-day office operations as well
as directing marketing efforts, team recruitment and
new business development. She is a fourth generation
Hudson family member to join the company and works
side by side with her father, Robert S. Hudson, P.E.,
current President and CEO. She resides in Glenside, Pa.
Am
with her husband, Charles Gerhard IV.
er
ica
NEW HIRE
n
RYAN
FITZGERALD
Ci
Mechanical Engineer
ty
Kupper Engineering, Inc.
Ryan will provide mechanical
engineering services,
which include HVAC design,
energy modeling, load
calculations, ductwork and piping system layouts,
and construction administration services. He will
focus on projects within the education, retail and
commercial office sectors.
Promote company success.
When your company needs to announce exciting news, listings with Companies on the Move
guarantee exposure for your positive press.
PAID ADVERTISING
PEOPLE ON THE MOVE
NEW HIRE BOARD OF DIRECTORS
JAMIE TIMOTHY
MCDONALD O‘ROURKE
Business Development Manager Chairman
MJ Settelen Elwyn Board of Directors
Jamie McDonald brings 10 years of Tim, recently retired from
Project Management experience Temple University where
to a new role as the Business he was the CIO and VP of
Development Manager at MJ Computer Services, shared
Settelen Construction. Her engineering background the following: “I am honored to have the privilege
enables her to engage with potential clients & team to serve as Chairman. I follow in the path of many
members in a pre-construction environment to smooth great leaders who have held this role before me,
the transition from budgeting to bidding to building. She and I will continue to uphold our mission to support
is involved in her Philadelphia community as a Drexel individuals with diverse challenges in shaping
Adjunct Professor & volunteer board member for the East distinctive, meaningful lives. Collectively, we will be
Passyunk Civic Association Zoning & Planning committee. impactful and involved to make a difference.”
PROFESSIONAL RECOGNITION
TO SUBMIT: http://bizj.us/1pjdgc
MICHAEL For more information,
LAMM contact Jason Garrison at
Managing Partner jgarrison@bizjournals.com
Corporate Advisory Solutions,
Bu
LLC
Michael Lamm is very
s
ine
well respected within the
outsourced business services
M&A industry, and for good reason. He is very good
ss
at what he does, honest to a fault and extremely
knowledgeable. A top professional, a great boss, a
Jo
good friend, a good citizen.
ur
na
ls
- No
tf
or
c om
m
er
cia
Where can I learn more?
lu
philadelphiabusinessjournal.com/cotm
se
Who can answer my questions?
Jason Garrison – Audience Development Director
215-238-5126 • jgarrison@bizjournals.com
MARCH 23, 2018 59
LEADS
Information to build your business
RR  Bankruptcies
PHILADELPHIA
DIVISION
Chapter 7
All Hours Air Conditioning
LLC, 34 Dolphin Rd.,
Levittown 19056; Assets,
$1,508; Debts, $36,245;
Major Creditor, Bank Of
America NA, $14,503;
Attorney, John M. Kenney;
case #18-11668, 03/12/18.
Chapter 11
ALB Care Inc., 9726
Bustleton Ave. #101,
Philadelphia 19115; Assets,
$100,001 to $500,000;
Debts, $100,001 to
$500,000; Attorney, Douglas
R. Lally; case #18-11583,
03/08/18.
CAMDEN DIVISION
Chapter 7
The Family Bricks VI
LLC, 9407 Ventnor Ave.,
Margate City 08402;
Assets, $1,000,002; Debts,
$3,386,364; Major Creditor,
Berkshire Bank, $2,140,393;
Attorney, Bruno Bellucci III;
case #18-14530, 03/08/18.
Chapter 11
Mikes Pizza & Sub Shop
LLC, 2639 Union Ave.,
Pennsauken 08109; Assets,
$195,237; Debts, $382,303;
Major Creditor, Division
of Taxation, $154,787;
Attorney, Scott H. Marcus;
case #18-14773, 03/12/18.
RR  Federal
Tax Liens
CHESTER COUNTY
Gurparkash Singh/
Rupinder Sandh, 135
Harvey Rd., W. Chester
19382, $125,815, case
#FT1800103-FT, 03/06/18.
Great Atlantic Graphics
Inc./Vincent J. Giarrocco,
280 Great Valley Pkwy.,
Malvern 19355, $231,774,
case #FT1800104-FT,
03/06/18.
Mentor Special Situation
Fund LP, 73 Chestnut Rd.,
Paoli 19301, $121,680, case
#FT1800105-FT, 03/06/18.
Paul J. Pilone, 282
Flagstone Rd., Chester
Springs 19425, $88,702,
case #FT1800106-FT,
03/06/18.
Celebrity Limousine
Services Inc., 2521 Yellow
Springs Rd., Malvern 19355,
$31,223, case #FT1800108-
FT, 03/08/18.
Michael Leardi/Mary
Ellen Leardi, 604 S.
Speakman Ln., W. Chester
19380, $167,596, case
#FT1800109-FT, 03/08/18.
PHILADELPHIA
William McAndrews, 9219
Cottage St., Philadelphia
19114, $1,714,642, case
#18-0220004, 02/07/18.
Lamson 1040now Inc., 325
Bainbridge St., Philadelphia
19147, $272,301, case #18-
0220007, 02/07/18.
Chapman Nissan LLC, 6723
Essington Ave., Philadelphia
19153, $25,045, case #18-
0220008, 02/07/18.
Aliyah Robinson/James
Golden, 1721 N. Uber
St., Philadelphia 19121,
$57,365, case #18-
0220011, 02/07/18.
Rapha Foot & Ankle
Center, 4605 Frankford
Ave., Philadelphia 19124,
$40,966, case #18-
0220023, 02/07/18.
Lora Hypes, 1414 S. Penn
Square #15A, Philadelphia
19102, $71,327, case #18-
0220024, 02/07/18.
Christopher Grimes/
Amie Grimes, 7915 Craig
St., Philadelphia 19136,
$157,374, case #18-
0220027, 02/07/18.
CNS Investment Group
Inc., 6443 Rising Sun
Ave., Philadelphia 19111,
$26,378, case #18-
0220032, 02/07/18.
CAMDEN COUNTY
Joseph L. Brown, 2 Charter
Oak Place, Clementon
08021, $129,276, (1040),
Book/Page 10836/371,
03/02/18.
Castle Academy Inc.,
500 Clements Bridge
Rd., Barrington 08007,
$44,898, (941), Book/Page
10836/373, 03/02/18.
RR  State
Tax Liens
CHESTER COUNTY
CW II Holdings Inc., 129
Davis Rd., Malvern 19355,
$90,690, (unemployment),
case #2018-02378-LN,
03/05/18.
Sahaj Hospitality LLC/
Sahaj Valley Forge
Hospitality, 100 Cresson
Blvd., Phoenixville 19460,
$15,317, (unemployment),
case #2018-02382-LN,
03/05/18.
L&J Moving & Storage Inc.,
190 Yarnell Rd., Pottstown
19465, $25,423, (revenue),
case #2018-02683-LN,
03/09/18.
PHILADELPHIA
Laura Wilk, 4544 Edgemont
St., Philadelphia 19137,
$65,359, (revenue), case
#18-0201089, 02/14/18.
Senior Pride Adult Day
Care LLC, 30 E. Walnut
Ln., Philadelphia 19144,
$17,933, (labor & industry),
case #18-0201236,
02/14/18.
Sadiki Inc., 7152 Ogontz
Ave., Philadelphia 19138,
$15,329, (labor & industry),
case #18-0201574,
02/16/18.
Estate of Pearl H. Duffy,
6637 N. Bouvier St.,
Philadelphia 19126,
$10,090, (revenue), case
#18-0201599, 02/17/18.
Interactive Physical
Therapy, 2417 Welsh Rd.
#201, Philadelphia 19114,
$12,188, (labor & industry),
case #18-0202049,
02/21/18.
Gazelle Signs Inc., 1045 W.
Glenwood Ave., Philadelphia
19133, $13,849, (labor
& industry), case #18-
0202302, 02/22/18.
Care at Home of Delaware
Valley LLC, 1500 Walnut St.
#700, Philadelphia 19120,
$14,283, (labor & industry),
case #18-0202305,
02/22/18.
Arline Construction
Services Inc., 2599 N.
33rd St., Philadelphia
19132, $168,336, (labor
& industry), case #18-
0202306, 02/22/18.
RR  Releases
of Federal
Tax Liens
PHILADELPHIA
Younger Days Development
Center, 6405 N. Broad
St., Philadelphia 19126,
$13,219, case #17-
0620130, 02/06/18.
S&L Roofing Co., 5700
Lebanon Ave., Philadelphia
19131, $16,061, case #17-
1020086, 02/06/18.
Phillip McFillin, 800 S.
Swanson St., Philadelphia
19147, $253,771, case #07-
1020227, 02/13/18.
R ABOUT THIS SECTION
CONTACT US
Business Leads is a weekly compendium
of information taken from government
records available mainly from public
sources and documents in the cities,
counties and states that make up
metropolitan Philadelphia. Information is
compiled by American City Business Leads,
877-593-4157.
EMAIL EDITION
This information (plus phone numbers) is
available via e-mail subscription. Please call
877-593-4157 for average counts and cost
Am
information.
er
ONLINE EDITION
ica
This information is available online
for subscribers under the “Subscriber
Content” section at www.pbj.com.
n
Ci
ty
Escobar Cleaning Inc., 8705
Autumn Rd., Philadelphia
Bu
19115, $166,902, case #08-
0720148, 02/13/18.
s
CAMDEN COUNTY
Frederick G. Levin, 11
MacArthur Blvd. #805,
Westmont 08108, $159,999,
(1040), Book/Page
10836/377, 03/02/18.
James and Suzanne
Warner, 512 W. Cedar Ave.,
Oaklyn 08107, $111,375,
(1040), Book/Page
10836/381, 03/02/18.
RR  Mechanics’
Liens
PHILADELPHIA
Plaintiff: Intech
Construction LLC,
Defendant: Rittenhouse
Condominium Owners’
Association, $103,532, case
#18-01M0013, 02/02/18.
RR  Business
Firm
Registrations
CAMDEN COUNTY
Clinton Food Market, 402
Clinton St., Camden 08103,
grocery store.
Junior’s Services, 545
Newton Lake Dr. #803C,
Collingswood 08108, home
improvement.
RR  Business
Name
Registrations
BURLINGTON
COUNTY
Our NJ Kids Directory, 111
Pemberton-Browns Mills
Rd., Browns Mills 08015,
advertisement marketing
or business development
mediums.
Stratix, 129 Plumtree Ln.,
Willingboro 08046, digital
advertising.
HCS Contracting and
Consulting, 10 Emery Hill
Ct., Marlton 08053, general
maintenance or consulting.
OGS Global Consulting,
2 Douglas Ct., Willingboro
08046, it consulting or
financial advisory services.
Medford Adirondack, 8
Harpers Ferry Ct., Medford
08055, manufacture of
wooden outdoor furniture.
Luv Thy Neighbors, 26
Galton Ln., Willingboro
08046, non-profit feed the
homeless.
Custom Machined Parts,
44 Kennedy Ln., Pemberton
08068, produce components
ine
to spec.
L.J. Engineering, Clusters
of Lexton #68, Maple Shade
ss
08052, remolding.
Doyle’s Retro Games and
Toys, 2000 S. Lakeshore Dr.,
Jo
Browns Mills 08015, resale
or online auctions.
ur
DLM Tree Service, 27 13th
St., Burlington 08016,
na
tree service or general
construction.
RR  New
Corporations
BUCKS COUNTY
First Platinum Abstract
(PHA) 1031 LLC, 2416
Bristol Rd., Bensalem 19020,
1031 tax free exchange
service.
S.A.S. Academy Athletic
Performance, 5909
Bristol-Emilie Rd., Levittown
19057, athletic training or
performance or conditioning.
Ecograd NA LLC, 1 Kanon
Ct., Newtown 18940,
catering or entertainment.
Beckbrojack LLC, 3222
1st Ave., Bensalem 19020,
computer programming.
Stateside Builders LLC, 402
Executive Dr., Langhorne
19047, construction.
D&D Stucco LLC, 1072
Oakwood Dr., Warminster
18974, demolition or
remediation or installation
of stucco.
Centre Farm LLC, 2224
Forest Grove Rd., Furlong
18925, farm.
PT Aviation Services LLC,
516 Cafferty Rd., Erwinna
18920, flight instruction.
JB3 Contracting LLC, 65
Kingwood Ln., Levittown
19055, general contractor.
Yizhou LLC, 18 Bennington
Place, Newtown 18940,
holding co. for real estate.
STN Management Inc.,
1410 Manning Blvd.,
Levittown 19057, internet
marketing.
Dave & Nick LLC, 2035
Allentown Rd., Quakertown
18951, laundry service
business.
Process Service PA LLC,
4387 W. Swamp Rd.,
Doylestown 18902, legal
messenger.
Eelaware LLC, 1103 Hilltop
Rd., Southampton 18966,
SECTIONS
Bankruptcies............................... 59
Business firm registrations......... 59
Business name registrations...... 59
Court judgments........................ 60
Federal tax liens.......................... 59
High-end homes.......................... 61
Lawsuits filed.............................. 60
Mechanics liens.......................... 59
New corporations....................... 59
Real estate transactions............. 60
Release of federal tax liens........ 59
State tax liens............................. 59
music performance.
Micahsmusic LLC, 1209
Orchid Rd., Warminster
18974, musical
entertainment.
Lifestyles Real Estate
LLC, 521 Viscount Dr.,
Yardley 19067, property
management.
SB-Eldorado LLC, 171
N. Broad St., Doylestown
18901, real estate.
SB-Independence LLC, 171
N. Broad St., Doylestown
18901, real estate.
Neshaminy Winding Brook
LLC, 329B S. Main St.,
Doylestown 18901, real
ls
estate.
6684 Phillips Mill LLC,
-
6684 Philips Mill Rd., New
No
Hope 18938, real estate.
Sela Plus Inc., 602
Danenberger Dr.,
tf
Southampton 18966, real
estate.
or
PM Beachfront LLC, 2235
Polo Run Dr., Yardley 19067,
c
real estate.
om
Abeja Refrigeration Corp.,
609 Warwick Rd., Fairless
Hills 19030, refrigeration co.
NCDC Homes BH4 LLC,
36 Towpath Rd., Levittown
19056, residential real
estate.
Captain Produce LLC, 64
Woodhill Rd., Newtown
18940, sale of produce.
Dispatch Sign Repair, 184
W. Georgianna Dr., Richboro
18954, signage installation.
5D Sustainable Living, 715
E. Cherry Rd., Quakertown
18951, social media
promotions.
Alliance Surgical LLC, 11
Woodview Dr., Doylestown
18901, surgical device
distributorship.
KC Events Group LLC, 64
Jasen Dr., Chalfont 18914,
wedding coordination.
CHESTER COUNTY
L2MJ Enterprises Inc., 348
Keller Rd., Berwyn 19312, 1
day painting franchise.
Abbie Leigh Designs LLC,
1523 Scarborough Ct., W.
Chester 19380, apparel
design.
K-Source Marketing LLC,
130 Holby Ln., Pottstown
19465, branding or web
design or graphic design.
Formation LLC, 102 E.
Street Rd., Kennett Square
19348, business consulting.
David M. Burke LLC,
274 Lancaster Ave. #208,
Malvern 19355, business
consulting.
Hershey RV Park & Lodging
LLC, 3110 Horseshoe
Trl., Glenmoore 19343,
campground real estate.
Better Together Home
Services LLC, 209
Lindenwood Dr., Exton
19341, cleaning or home
services.
Xpan Consulting Solutions
LLC, 342 E. Lancaster
Ave., Downingtown 19335,
consulting services.
Athena Home Services
LLC, 1257 Muhlenburg Dr.,
Wayne 19087, contracting or
landscaping services.
FAP 4 LLC, 201 E. Gay St.
#307, W. Chester 19380,
e-commerce.
Geartick LLC, 108 Gypsy
Ln., Kennett Square 19348,
e-commerce store.
Smart Fellers Productions
LLC, 656 E. Swedesford
Rd., Wayne 19087,
entertainment-screenwriting
or production.
Estimatics ESP LLC, 277
Victoria Chase, Pottstown
19465, estimating
consulting.
Hitchcock Home Services
m
LLC, 368 Hallman Mill
Rd., Phoenixville 19460,
er
general contracting or home
renovations.
cia
Pinochle Partners LLC,
1044 Preserve Ln., W.
Chester 19382, horse
lu
training.
ABR Heating & Cooling
se
LLC, 42 Treaty Dr.,
Chesterbrook 19087, hvac
heating or cooling.
Glasswave LLC, 904 Fairway
Dr., Malvern 19355, internet
development or software.
Keene Solutions Inc., 544
Richards Rd., Wayne 19087,
investment or referral
services.
Downingtown Trophies
Sports Plaques &
Cards, 411 Denford Way,
Downingtown 19335, make
trophies or sports plaques
or cards.
Visualeyes Optique PLLC,
25 Theresa Dr., Malvern
19355, optometry.
Transform Your Truth
LLC, 425 Carpenters Cove
Ln., Downingtown 19335,
public speaking or writing or
coaching.
Beaver Pond LLC, 215 Old
Wilmington Rd., Coatesville
19320, real estate.
Winans LLC, 904 Colonial
Ct., Coatesville 19320, real
estate.
Parsons Glenrothes LLC,
1373 Enterprise Dr., W.
Chester 19380, real estate.
3330 N. 22nd LLC, 158 W.
Gay St. #200, W. Chester
19380, real estate.
FM Vaughn Properties
Inc., 804 Vaughn Rd. Office,
Pottstown 19465, real
estate.
Trowel To Hammer
Construction LLC, 383
Devon Dr., Exton 19341,
residential remodeling.
Applewood Homes LLC,
511 Schoolhouse Rd.,
Kennett Square 19348,
residential subdivision or
construction.
Landis’ Catering &
Sandwiches LLC, 2570
Crum Creek Dr., Berwyn
19312, restaurant or
catering.
Northcreek LLC, 104 N.
Creek Rd., Landenberg
19350, retail home or
apparel or lifestyle.
MONTGOMERY
COUNTY
Tami Berry MD LLC, 16 N.
Bryn Mawr Ave. #1092, Bryn
Mawr 19010, coaching or
teaching or mentoring or
speaking or writing.
Cloud Level LLC, 1731
County Line Rd., Villanova
19085, computer services.
TF Properties Wrightsville
LLC, 168 E. 1st Ave.,
Collegeville 19426,
concrete plant or real estate
management.
MMZ Consulting LLC,
506 Merwyn Rd., Narberth
19072, consulting.
Best Impressions Medspa
Inc., 1050 Dekalb Pike, Blue
Bell 19422, cosmetic skin
care services.
Teslagreen USA LLC, 514 E.
Lancaster Ave., Wynnewood
19096, distribution or waste
management services.
Creative Straebors LLC,
107 Lilac Ln., Gilbertsville
19525, diy boutique
woodworking classes.
WOPR Communications
Ltd., 761 Argyle Rd.,
Glenside 19038, educating
those interested in science or
technology.
Execuvend LLC, 80
Greenwood Ave., Collegeville
19426, food vending
machines.
FS Gerard II LLC, 234 N.
Ithan Ave., Villanova 19085,
holding co.
Rayavi LLC, 144 Arnold Rd.,
Ardmore 19003, home care
agency.
Amazing Escape Room King
of Prussia LLC, 1020 W. 8th
Ave., King Of Prussia 19406,
interactive game room.
SCS Consulting LLC, 30
Foxwood Cir., Bryn Mawr
19010, it consulting.
Hofer Law LLC, 804 Jay’s
Dr., Lansdale 19446, law
firm.
Yucha Medical
Management Co., 435 W.
Cedarville Rd., Pottstown
19465, management
consulting services.
Willow’s Walks & Wags LLC,
411 Tudor Rd., Collegeville
19426, pet sitting services.
Iconic Drafting, 44 Maria
Ln., Schwenksville 19473,
providing technical drawings
to accompany patents.
12 Merion Rd. LLC, 12
Merion Rd., Merion Station
19066, real estate.
Oaks Real Estates LLC,
1406 Merlin Cir., Audubon
19403, real estate.
Castlehill Holdings LLC,
1150 1st Ave. #501, King Of
Prussia 19406, real estate.
Keystone Performing
Arts Center LLC, 700 S.
Henderson Rd. #202, King Of
Prussia 19406, real estate.
PMB Enterprises LLC, 269
Huntsman Ln., Blue Bell
19422, real estate.
Intuitive Investments LLC,
832 Creekview Dr., Blue Bell
19422, real estate.
Sibel Real Estate LLC, 4167
Saddlebrook Rd., Collegeville
19426, real estate.
6625 Lincoln Dr. LLC, 518
Monticello Ln., Plymouth
Meeting 19462, real estate.
Axcel Commercial Realty
LLC, 709 Bethlehem Pike,
Erdenheim 19038, real
estate brokerage.
IP18 LLC, 2718 Taft Ave.,
Glenside 19038, real estate
investing.
RDC Affiliates LLC, 477 E.
Main St. #1W, Collegeville
19426, real estate services.
Dank Food Group LLC, 1423
Barton Dr., Ft. Washington
19034, retail food vending.
Brainwave Games LLC,
8302 Old York Rd. #C200,
Elkins Park 19027, software
development.
Oaks Technologies
LLC, 1406 Merlin Cir.,
Audubon 19403, software
development.
Bluearth Applications Inc.,
642 Cowpath Rd., Lansdale
19446, system engineering
or technology development.
Zoogooz Technologies
LLC, 8108 Pennhill Rd.,
Elkins Park 19027, technical
services of all kinds to
clients.
PHLPA DF Inc., 618 S. Broad
St. #1, Lansdale 19446,
wholesale cell phone.
PHILADELPHIA
The Artistry Brand, 5122
N. 12th St., Philadelphia
19141, a one stop shop for
all things beauty.
Mindset Auto LLC, 6506
Musgrave St., Philadelphia
19119, auto sales.
Regina’s Place LLC, 4110
Orchard Ln., Philadelphia
19154, bar or restaurant.
Melanin Beauty Artistry
LLC, 723 W. Nedro Ave.,
Philadelphia 19120, beauty
product distribution.
Christina Super Skin! LLC,
1518 Walnut St. #303,
Philadelphia 19102, beauty
services.
Capital Book Solutions LLC,
211 S. 13th St., Philadelphia
19107, book sales.
M&S Breakfast LLC, 100
S. 60th St., Philadelphia
19139, breakfast or lunch.
Maxi Care LLC, 2704 S. 86th
St., Philadelphia 19153, care
of mentally challenged or
physically disable adults.
Jimi Trans Inc., 9926
Haldeman Ave. #128A,
Philadelphia 19115, cargo
transportation.
JZ Construction Inc., 7201
Kindred St., Philadelphia
19149, carpentry framing.
A Taste of Me, 2851 N. 27th
St., Philadelphia 19132,
catering business.
R&R Cleaning Services
1 LLC, 62 N. Yewdall
St., Philadelphia 19139,
cleaning.
Natural Cleaning
Services, 5638 N. 10th
St., Philadelphia 19141,
commercial or residential
cleaning service.
Fetch Green & Co. LLC, 771
N. 38th St., Philadelphia
19104, community service
or engagement or self
development or mentorship.
Tiara Construction Corp.,
217 N. 11th St. #301,
Philadelphia 19107,
construction or remodeling.
Georgelittle.Design
LLC, 2370 E. Norris St.,
Philadelphia 19125, design.
Homer Mem LLC, 762
S. Mole St., Philadelphia
60  PHILADELPHIA BUSINESS JOURNAL
19146, design or construct
homes.
Asset Estate Planning LLC,
520 N. 64th St., Philadelphia
19151, document preparer.
CRC Electric LLC, 12230
Medford Rd., Philadelphia
19154, electrical contractor.
Paulstian Entertainment
& Hospitality LLC, 616
N. 11th St., Philadelphia
19123, entertainment.
North Philadelphia Garage
Doors, 1 Brown St. #1719,
Philadelphia 19123, garage
doors services.
Tri State Container Homes
Inc., 6826 Paschall Ave.,
Philadelphia 19142, general
contractor for homes.
Samana Outlet Store
Inc., 718 Adams Ave.,
Philadelphia 19124, general
merchandise sales.
Panauri GP LLC, 204-6 W.
Laurel St. #4, Philadelphia
19123, general partner
for a lp.
Mindset Business LLC, 6506
Musgrave St., Philadelphia
19119, holding co.
Levy Brothers Holdings
LLC, 1818 Market St.,
Philadelphia 19103, holding
intangible assets.
Mejia Remodeling &
Carpentry LLC, 6623
Tabor Ave., Philadelphia
19111, home remodeling or
carpentry.
JK Constructions LLC, 9851
Wistaria St., Philadelphia
19115, home renovation.
Above Standard Care
LLC, 2104 W. Norris St.,
Philadelphia 19121, housing
or personal care.
Zeek Repairs, 7141
Marsden St., Philadelphia
19135, housing repairs or
maintenance.
Dynasty Wine Spirit
LLC, 3245 Collins St.,
Philadelphia 19134, import
wholesale.
Jocelyn Jennings LMFT
LLC, 2305 Fairmount
Ave., Philadelphia 19130,
individual or couple therapy.
Sanford Trading LLC, 333
N. 10th St. #1, Philadelphia
19107, international
trading.
Lichtenson LLC, 107 S.
2nd St. #300, Philadelphia
19106, investment in real
estate.
Tiff Investments LLC,
544 Washington Ave.,
Philadelphia 19147,
investments.
Duytrang LLC, 540
Washington Ave.,
Philadelphia 19147,
investments holding.
Ortiz Landscaping
LLC, 2101 N. Front St.,
Philadelphia 19122, lawn
care or tree trimming or
general cleaning.
TK Brand LLC, 4922 N. 9th
St., Philadelphia 19124,
lifestyle brand-apparel
or community awareness
events.
M.D.N. Express Inc.,
9921 Bustleton Ave.,
Philadelphia 19115, long
haul transportation.
Harrowgate Place
LLC, 2329 Emerald St.,
Philadelphia 19125, manage
real estate.
Social Enterprise
Management LLC, 230
S. Broad St. #1700,
Philadelphia 19102,
management services co.
Red Queen Gaming
LLC, 3401 Market St.,
Philadelphia 19104,
marketplace for video game
tools.
Royal WK LLC, 451 N. 12th
St., Philadelphia 19123,
massage.
Diamond Nail Spa LLC,
2863-65 N. 22nd St.,
Philadelphia 19132, nail
salon.
Royalty at Home HHC LLC,
7529 Briar Rd., Philadelphia
19138, non-medical home
health care.
Rodriguez Financial
Services, 4805 VanKirk St.,
Philadelphia 19135, notary
or bill payments or money
transfers.
Estival, 1431 S. Clarion St.,
Philadelphia 19147, online
sale of accessories.
4306 Market Associates
LLC, 3615 Brandywine
St., Philadelphia 19104,
ownership or development or
operation of real property.
Winners Circle ENT
LLC, 4613 Wilbrock St.,
Philadelphia 19136, party
bus or limo service.
DSMZ 42 LLC, 1420 Walnut
St., Philadelphia 19102,
passive investment for
website.
Lin’s Relax Foot Inc., 13020
Bustleton Ave., Philadelphia
19116, personal massage.
Ascend Fitness LLC, 201
S. Camac St., Philadelphia
19107, physical training
services.
GM Pizza, 9918 Roosevelt
Blvd., Philadelphia 19115,
pizzeria.
Fitz Brothers Investment
Group LLC, 100 N. 18th St.
#300, Philadelphia 19103,
real estate.
ASR Philly LLC, 1824 Spruce
St., Philadelphia 19103, real
estate.
Haverford 43 Associates
LLC, 3615 Brandywine St.,
Philadelphia 19104, real
estate.
Offir Partnership LLC,
3 Country Lane Way,
Philadelphia 19115, real
estate.
N.K.A. Properties LLC,
1218 N. Marshall .,
Philadelphia 19122-4313,
real estate.
Frontier Property Group
LLC, 2201 E. Huntingdon
St. #1, Philadelphia 19125,
real estate.
1944 Firth LLC, 2201
E. Huntingdon St. #1,
Philadelphia 19125, real
estate.
Millwood Management
LLC, 2201 E. Huntingdon
St. #1, Philadelphia 19125,
real estate.
Rapid Leverage LLC, 2201
E. Huntingdon St. #1,
Philadelphia 19125, real
estate.
York Jasper Partners
LLC, 2321 Emerald St.,
Philadelphia 19125, real
estate.
Fast Home Buyers LLC, 311
E. Girard Ave., Philadelphia
19125, real estate.
Kanofsky Group LLC,
16 W. Thompson St. #B,
Philadelphia 19125, real
estate.
Ginsburg Real Estate
Ventures LLC, 6230
Lawnton St., Philadelphia
19128, real estate.
Melon2018 LLC, 2000
Fairmount Ave., Philadelphia
19130, real estate.
Y&Z Investment LLC,
1537 Spring Garden St.,
Philadelphia 19130, real
estate.
Diamond Management
CGP LLC, 5461 Diamond
St., Philadelphia 19131, real
estate.
RCH Real Estate
Investment, 5714 Poplar
St., Philadelphia 19131, real
estate.
Wall Investments
LLC, 4548 Market St.,
Philadelphia 19139, real
estate.
RW Property Group
LLC, 3330 N. 21st St.,
Philadelphia 19140, real
estate.
Homes 2 LLC, 4936 Cedar
Ave., Philadelphia 19143,
real estate.
Amthony Fortuna Real
Estate Appraisal Inc., 2845
S. 12th St., Philadelphia
19148, real estate.
Nice Mayers Properties
LLC, 6532 Castor Ave.,
Philadelphia 19149, real
estate.
Peak Homes LLC, 7707
Delphi Place, Philadelphia
19153, real estate.
7356 Frankford LLC, 4110
Orchard Ln., Philadelphia
19154, real estate.
Building Holdings
LLC, 4322 Bermuda St.,
Philadelphia 19124, real
estate holdings.
IERPJ LLC, 422 W. Master
St., Philadelphia 19122, real
property.
Andino’s Construction, 571
E. Sanger St., Philadelphia
19120, remodeling of
properties.
NE Homes LLC, 2935 Hale
St., Philadelphia 19149,
renting or leasing residential
real estate.
Am
New Batteries LLC, 3801
Jasper St., Philadelphia
19124, restaurant.
er
Community Partnership
School Scholarship #1
LLC, 1936 N. Judson
ica
St., Philadelphia 19121,
scholarship fund.
n
1st Class Services LLC,
6239 Vine St., Philadelphia
Ci
19139, third-party delivery
service.
ty
Bahrillobobo Inc., 9926
Haldeman Ave. #B101,
Philadelphia 19115,
Bu
transportation cargo or
freight.
s
Total Transportation
Corp., 4201 Tacony St.,
Philadelphia 19124,
transportation services.
Chosen Kids Christian
Learning Center, 7220
Paschall Ave., Philadelphia
19142, young children
learning center.
RR  Commercial
Real Estate
Transactions
CHESTER COUNTY
R&P Hospitality LLC to
Akshar LLC, 675 Baltimore
Pike, Springfield 19064; 500
Willowbrook Ln., W. Chester
19382, West Goshen #3
Willowbrook ID 52-7-25.8,
$4,350,000.
Yeatman Brothers
Properties/Yeatman
Property Management Inc.
to Quarryville LLC, 3556
Newark Rd., Cochranville
19330; 1656 Gap Newport
Park, W. Grove 19390,
London Grove Township
US Route #41 ID 59-5-
122/59-5-121/59-5-121.1,
$950,000.
Bob Evans Restaurants LLC
to Exton Sab LLC, 1001 E.
Telecom Dr., Boca Raton, Fla.
33431; 303 N. Pottstown
Park, Exton 19341, Lot R
West Whiteland Parcel 1 ID
41-5-43.1, $925,000.
Margaret P. Moore and
James A. Whitcraft to
TAHC Properties LLC,
327 S. High St., W. Chester
19382; 301 S. High St., W.
Chester 19382, West Chester
ID 1-9-916, $700,000.
MONTGOMERY
COUNTY
Michael Straff/Seth
Straff/Ira Straff to CP
Acquisitions 27 LLC, 18 E.
Lancaster Ave., Wynnewood
19096; 5 Highland Ave.,
Norristown 19001, Lower
Merion Township ID 40-00-
25292-00-3, $1,675,000.
Michael H. and Rose-Marie
Loughnane to 5209 Militia
Hill Associates LLC, 5209
Militia Hill Rd. #3, Plymouth
Meeting 19462, Lot 3
Whitemarsh Township ID 65-
00-07861-35-4, $775,000.
Willem F. Vanbasten to
Touchdown Investments
Inc., P.O. Box 77027, Ft.
Worth, Texas 76177; 401
Jacksonville Rd., Hatboro
19040, Hatboro Borough
ID 08-00-02629-00-9,
LEADS
$740,000.
Christopher M. Arader/2
Portland Road Associates
LLC to 2 Portland Mojo
LLC, 310 Hansen Access Rd.
#102, Kinf of Prussia 19406;
Portland Rd., Conshohocken
19428, West Conshohocken
Borough ID 24-00-02228-
00-7, $650,000.
Roger Lebow to Main
Street Royersford LLC,
1234 Page Terr., Villanova
19085; 330 Main St.,
Royersford 19468,
Royersford Borough ID
19-00-01992-00-5/19-00-
01996-00-1 (2 parcels),
$600,000.
PHILADELPHIA
PIDC Financing Corp./
Bruce & John LLC to
MT Integrity LLC, 1401
Berkshire Dr., Bensalem
19020; 3901-39 G St.,
Philadelphia 19124, ID
884114000, $3,100,000.
Centra Associates LP to
Meritis Group LLC, 41
Pheasant Hill, Weston, Conn.
06883; 1201-07 Vine St.,
Philadelphia 19107, ID
885816440, $2,400,000.
Precious I Inc. to
Allegheny 44 LLC, 33
Rock Hill Rd., Bala Cynwyd
19004; 1228/1230/1234
W. Allegheny Ave. et al.,
Philadelphia 19133, ID
431025400/431025500
/431025700 et al.,
$2,200,000.
RX Philly Allegheny
Investors LLC to 338
Allegheny Equities LLC, 55
ine
Franklin Ave., Brooklyn, N.Y.
11205; 338 E. Allegheny
Ave., Philadelphia 19134, ID
ss
88-2028400, $2,199,375.
PIDC Financing Corp.
Jo
to 3333 S. Third Street
Associates LP, 3333 S. 3rd
St., Philadelphia 19148, ID
ur
88-4150500, $840,000.
52nd Street Group LLC to
na
Kalidave LP, 4323 Spruce
St., Philadelphia 19104;
205/207/209/211 S. 52nd
St., Philadelphia 19139, ID
871252700/871299180
/871402150 (4 parcels),
$825,000.
R&W Associates LP
to 4923-25 Arendell
LLC, 9323 Keystone St.,
Philadelphia 19114;
4923-25 Arendell Ave.,
Philadelphia 19114, ID
884940010, $673,860.
VU Read Center LLC to
2040 Frankford Ave.
Owner’s LLC, 35 Hollywood
Ave., Yonkers, N.Y. 10707;
2040 Frankford Ave.,
Philadelphia 19125, ID 87-
1-5410-20, $550,000.
Reisterstown Road
Associates to Ocean Thia
Investment LLC, 2712
Meyer Place, Philadelphia
19114; 7248 Frankford Ave.,
Philadelphia 19135, ID 88-
2-9261-80, $525,000.
CAMDEN COUNTY
Gerald D. and Erica J. Levin
to Liberty Towers Philly LP,
303 Park Ave., Hainesport
08036; 228 Kings High
E./13-17 S. Haddon Ave.,
Haddonfield 08033, Block
33 Lots 57/59 Borough of
Haddonfield, $1,625,000.
Gerald D. and Erica J. Levin
to Liberty Towers Philly LP,
303 Park Ave., Hainesport
08036; 132 Kings Hwy. E.,
Haddonfield 08033, Block
34 Lots 9 and 9.01 Borough
of Haddonfield, $1,400,000.
Gerald D. and Erica J.
Levin to Liberty Towers
Philly LP, 303 Park Ave.,
Hainesport 08036; 9 Tanner
St., Haddonfield 08033,
Block 21 Lot 1 Borough of
Haddonfield, $1,365,000.
Gerald D. and Erica J. Levin
to Liberty Towers Philly LP,
303 Park Ave., Hainesport
08036; 18-22 N. Haddon
Ave., Haddonfield 08033,
Block 20 Lot 9 Borough of
Haddonfield, $990,000.
Gerald D. and Erica J. Levin
to Liberty Towers Philly LP,
303 Park Ave., Hainesport
08036; 3 S. Haddon Ave.,
Haddonfield 08033, Block
33 Lot 8.01 Borough of
Haddonfield, $990,000.
VR Enterprises LLC to
Perina Executive Center
LLC, 42 Bunker Hill Rd.,
Shamong 08088; 5 Perina
Blvd. Bldg. 48, Cherry Hill
08003, Block 436.03 Lot
11 Cherry Hill Township,
$945,000.
Fithian Properties LLC to
HJ & EC Properties LLP,
150 Rennaissance Dr., Cherry
Hill 08003; 6920 Crescent
Blvd., Pennsauken 08110,
Block 6502 Lots 1 & B01
Pennsauken Township,
$825,000.
Gerald D. Levin to Liberty
Towers Philly LP, 303 Park
Ave., Hainesport 08036; 13-
15 Tanner St., Haddonfield
08033, Block 21 Lots 2/3
Borough of Haddonfield,
$600,000.
Gerald D. Levin to Liberty
Towers Philly LP, 303 Park
Ave., Hainesport 08036; 19
Mechanic St., Haddonfield
08033, Block 20 Lot 7
Borough of Haddonfield,
$300,000.
RR  Court
Judgments
PHILADELPHIA
Nationstar Mortgage LLC
dba Mr. Cooper vs. Ballah
Narmah/Muna Reeves,
$71,550, plaintiff, case #17-
0803070, 02/05/18.
American Builders &
Contractor’s Supply Co. vs.
GC Family Contractors LLC,
$26,634, plaintiff, case #17-
0502690, 02/06/18.
NRT Property Management
Pennsylvania LLC vs.
Delaware Valley Property
Management LLC,
$609,026, plaintiff, case
#17-1002498, 02/06/18.
Marlin Business Bank vs.
ls
Bim Bam Burgers LLC,
$19,513, plaintiff, case #17-
1200248, 02/06/18.
-
American Heritage Federal
No
Credit Union vs. Old
Lincoln Highway LP et al.,
$316,601, plaintiff, case
tf
#18-0200433, 02/06/18.
or
Matthew Pilecki vs. O.P.
Ventures LLC-City Side
Properties LP/Nathan
c
Krautheimer, $50,000,
plaintiff, case #16-1200562,
om
02/07/18.
Beneficial Equipment
Finance Corp. vs. Natalie
Stimpson PC/Natalie
Stimpson, $50,603,
plaintiff, case #17-0801813,
02/07/18.
Santander Bank NA vs. Fox
Hollow Construction LLC/
Blair Strouse, $119,540,
plaintiff, case #17-0903147,
02/07/18.
Beneficial Equipment
Finance Corp. vs. Apollo
Health Inc., $19,410,
plaintiff, case #17-0903530,
02/07/18.
Beneficial Equipment
Finance Corp. vs.
Arkadelphia Eye Clinic Inc.,
$44,977, plaintiff, case #17-
1002042, 02/07/18.
Marlin Business Bank vs.
Mandarin House Chinese
Restaurant, $17,371,
plaintiff, case #17-1200920,
02/07/18.
Beneficial Equipment
Finance Corp. vs. Muse
Consulting LLC, $17,386,
plaintiff, case #17-1201983,
02/07/18.
City of Philadelphia vs.
Disability Law Advocates
Group PC/Aaron
Friedmann, $189,354,
plaintiff, case #18-0200475,
02/07/18.
Complete Business
Solutions Group Inc. vs.
Brower Enterprises Inc./
Stanley Brower, $205,175,
plaintiff, case #18-0200627,
02/07/18.
Complete Business
Solutions Group Inc. vs.
First Stop Management
Inc./Mayra Delacruz,
$108,437, plaintiff, case
#18-0200635, 02/07/18.
Complete Business
Solutions Group Inc. vs.
Health One Labs LLC/
ATA Success Leadership
Academy LLC, $14,484,
plaintiff, case #18-0200636,
02/07/18.
Complete Business
Solutions Group Inc. vs.
CS Waffles LLC, $22,641,
plaintiff, case #18-0200662,
02/07/18.
Complete Business
Solutions Group Inc. vs.
James Jenkins/Jenkins
Enterprises LLC, $73,907,
plaintiff, case #18-0200665,
02/07/18.
Complete Business
Solutions Group Inc. vs.
Brigade Holdings LLC/
William Bethell, $389,100,
plaintiff, case #18-0200666,
02/07/18.
Principis Capital LLC vs.
Abington Pain Medicine PC,
$44,905, plaintiff, case #18-
0200618, 02/08/18.
State Farm Fire and
Casualty Co. vs. King of
Russia Taxi LLC, $13,573,
plaintiff, case #17-0205214,
02/09/18.
Prudential Savings Bank
vs. Anmar Holdings LLC/
Anmar Management Co.
LLC, $2,219,322, plaintiff,
case #17-0701262,
02/09/18.
Fast Cash Inc. vs. Lila
Super Grocery, $20,387,
plaintiff, case #17-1100596,
02/09/18.
Santander Bank NA fka
Sovereign Bank NA vs.
PBR Dining Services Inc.,
$65,385, plaintiff, case #17-
1202969, 02/09/18.
City of Philadelphia vs.
Bowman and Partners LLP/
Michael Bowman, $61,409,
plaintiff, case #18-0200509,
02/09/18.
Transource Inc. dba
Unishippers vs. EU Glass
Inc., $125,201, plaintiff,
case #18-0200691,
02/09/18.
Fleetway Capital Corp.
vs. BCS Enterprises LLC/
Bruno Sequeira, $72,294,
plaintiff, case #18-0200839,
02/09/18.
Complete Business
Solutions Group Inc. vs.
Sprinkler Repair Inc./
Debra Morgan, $399,829,
plaintiff, case #18-0200842,
m
02/09/18.
Sysco Philadelphia LLC vs.
er
Italian Chester Pike LLC/
George Mamalis, $51,476,
cia
plaintiff, case #17-1102884,
02/12/18.
ARF Financial LLC vs.
lu
Fortune Group Hospitality
LLC/Paul Liang, $267,664,
se
plaintiff, case #18-0200796,
02/12/18.
J&J Sports Productions
Inc. vs. 4055 Cresson Inc.,
$14,200, plaintiff, case #18-
0200843, 02/12/18.
J&J Sports Productions Inc.
vs. Casa De Espana Inc.,
$11,200, plaintiff, case #18-
0200845, 02/12/18.
Complete Business
Solutions Group Inc.
vs. East Coast Truck
and Trailer Repair Inc./
Jerry Caulder, $258,863,
plaintiff, case #18-0200947,
02/12/18.
J&J Sports Productions
Inc. vs. Miguel Gonzalez/
Morales 5th Inc., $111,200,
plaintiff, case #18-0200965,
02/12/18.
First American Title
Insurance Co. vs. Mabstract
LLC/Otis Johnson,
$752,909, plaintiff, case
#10-0201617, 02/13/18.
Mary Douglass vs. Moo
Tattoo, $30,325, plaintiff,
case #16-0102072,
02/13/18.
Felicia Johnson vs. Black
Orchard LLC, $19,051,
plaintiff, case #16-0902871,
02/13/18.
Citizens Bank of
Pennsylvania vs. Harris
Housing Group LLC/
Melvin Harris, $123,581,
plaintiff, case #17-0104161,
02/13/18.
SW Stucco LLC vs.
Constructure Management
Inc., $48,360, plaintiff, case
#17-1102619, 02/13/18.
Girard Finance Co. Inc. vs.
SA 3017 Inc., $286,986,
plaintiff, case #17-1203055,
02/13/18.
Complete Business
Solutions Group Inc. vs.
Aya Autocare Center LLC,
$22,200, plaintiff, case #18-
0201006, 02/13/18.
School District of
Philadelphia vs. St.
Andrews Fellowship
Baptist Church, $71,372,
plaintiff, case #18-0201033,
02/13/18.
RR  Lawsuits
Filed
PHILADELPHIA
Weber Gallagher Simpson
Stapleton Fires & Newby
LLC vs. Team Clean Inc.,
contracts, case #18-
0200212, 02/06/18.
Beneficial Equipment
Finance Corp. et al. vs.
Robinson Sports Inc.,
contracts, case #18-
0200276, 02/06/18.
Christopher Wuerz vs.
Sungard Public Sector
LLC/Superion LLC/Bank of
America NA, contracts, case
#18-0200294, 02/06/18.
Deborah Smith vs.
Regent Terrace Housing
Partnership LP/Pennrose
GP LLC/Pennrose
Properties/Pennrose
Properties Inc./Pennrose
Properties LLC et al.,
personal injury, case #18-
0200297, 02/06/18.
City of Philadelphia vs.
Arasu Rajaratnam/Phos
Holdings LLC, equity-no real
estate, case #18-0200312,
02/07/18.
City of Philadelphia vs.
2300 Alter LLC, equity-no
real estate, case #18-
0200351, 02/07/18.
City of Philadelphia vs.
956 Erie Partners LLC,
equity-no real estate, case
#18-0200364, 02/07/18.
Michael Delaney vs. Jayco
Inc., contracts, case #18-
0200371, 02/07/18.
American Express Bank
FSB vs. Stephanie Dodson/
Business Trains LLC, credit
card collection, case #18-
0200378, 02/07/18.
Richard Simnor vs.
Philadelphia Sports Clubs/
Town Sports International
Holdings Inc., personal
injury, case #18-0200426,
02/07/18.
City of Philadelphia vs.
After 20 Years LLC, equity-
no real estate, case #18-
0200460, 02/07/18.
Darlene Davis vs.
Samantha McLaughlin/
Ashrob Inc./ALW921
Enterprises LLC, dram
shop, case #18-0200461,
02/07/18.
City of Philadelphia vs.
G&C Homes LLC, equity-no
real estate, case #18-
0200462, 02/07/18.
Penn Jersey Paper Co. vs.
Main Street Hospitality
LLC, contracts, case #18-
0200465, 02/07/18.
Nyasha George vs. Clint
Flies/Walnut Hill Housing
Solutions LLC, real
property-other, case #18-
0200472, 02/07/18.
City of Philadelphia
vs. Aaron Friedmann/
Disability Law Advocates
Group PC, city business tax
case, case #18-0200475,
02/07/18.
Jarmul Reid vs. Penn
Medicine/Hospital
of the University of
Pennsylvania/University
of Pennsylvania Health
System/Trustees of the
University of Pennsylvania,
malpractice-medical, case
#18-0200496, 02/07/18.
Evette Harris vs. H&S1
Properties LLC, personal
injury, case #18-0200497,
02/07/18.
City of Philadelphia vs.
Michael Bowman/Bowman
and Partners LLP, city
business tax case, case #18-
0200509, 02/07/18.
Erik and Dona Jones vs.
Wendy’s Co./Wendy’s/
Wendy’s International
Inc./GCWEN Management
Corp./Wendy’s Store
#00008617, personal
injury, case #18-0200513,
02/07/18.
Ransome Rental Co. LP/
Giles & Ransome Inc.
vs. Timothy Dipretoro/
Apex Plumbing & Heating
Inc., contracts, case #18-
0200541, 02/08/18.
Marleigh Nociti vs.
McFadden’s at Ballpark
LLC, personal injury, case
#18-0200565, 02/08/18.
American Baptist
Extension Corp. vs.
Cathedral of Praise
Community Church, not
residential owner occupied,
case #18-0200575,
02/08/18.
City of Philadelphia vs.
B Street Holdings LLC,
equity-no real estate, case
#18-0200538, 02/09/18.
City of Philadelphia vs.
1855 N. 5th Street LLC,
equity-no real estate, case
#18-0200542, 02/09/18.
City of Philadelphia
vs. Bentwood Historic
Condominium, equity-no
real estate, case #18-
0200544, 02/09/18.
City of Philadelphia vs.
Dan Nelson/Fairmount
Neighbor Corp., equity-no
real estate, case #18-
0200545, 02/09/18.
City of Philadelphia vs.
Kensington Quoit Club,
equity-no real estate, case
#18-0200585, 02/09/18.
City of Philadelphia vs.
TV PA 6365 Germantown
Avenue LLC, equity-no real
estate, case #18-0200586,
02/09/18.
Gary Evans vs. Enterprise
Leasing Co. of Philadelphia
LLC/Elco Administrative
Services, contracts, case
#18-0200602, 02/09/18.
Leroy and Christine
Williams vs. Tenet
Healthsystem Hahnemann
LLC, malpractice-medical,
case #18-0200609,
02/09/18.
Denise Alston vs. Northeast
Treatment Centers Inc./
Net Treatment Centers
Inc./Turning Points for
Children/Turning Points
CUA 3 LLC et al., personal
injury, case #18-0200623,
02/09/18.
Alice Borovskiy/Patricia
McShane/Marian Chambers
vs. James Close/Ilya
Lim/Lisa Pappas-Taffer/
Hospital of the University
of Pennsylvania/
Pennsylvania Dermatology
Bucks County, personal
injury, case #18-0200630,
02/09/18.
JDR Fixtures Inc.
vs. Advanced Retail
Construction Inc.,
contracts, case #18-
0200640, 02/09/18.
Christian Pagan vs. Phillip
Ruiz/Sunja Song/PV
Holding Corp./Budget
Rent A Car, motor vehicle
property damage, case #18-
0200643, 02/09/18.
AEL Contractors LLC
vs. Joseph Marley/
Visionary Developers LLC,
construction contract, case
#18-0200675, 02/09/18.
Jo Matarese vs. James
Close/Ilya Lim/Lisa
MARCH 23, 2018 61
Pappas-Taffer/Hospital
of the University of
Pennsylvania/Pennsylvania
Dermatology Bucks
County, personal injury, case
#18-0200689, 02/09/18.
Transource Inc. dba
Unishippers vs. EU Glass
Inc., certified/exemplified
judgment, case #18-
0200691, 02/09/18.
Harbour Textile Rental
Service Inc. vs. Huntingdon
Valley Country Club,
contracts, case #18-
0200739, 02/09/18.
Harbour Textile Rental
Service Inc. vs. SCC
Restaurant LLC, contracts,
case #18-0200741,
02/09/18.
Harbour Textile Rental
Service Inc. vs. Lucky Dog
Enterprises LLC, contracts,
case #18-0200742,
02/09/18.
Harbour Textile Rental
Service Inc. vs. White Dog
Enterprises Inc., contracts,
case #18-0200743,
02/09/18.
Caralotta Jackson vs.
Comhar Inc./Comhar
Integrated Systems Inc./
Comhar Development
Foundation/Com-Har
Residential Corp.,
employment/wrongful
discharge, case #18-
0200786, 02/12/18.
ARF Financial LLC vs. Paul
Liang/Fortune Group
Hospitality LLC, certified/
exemplified judgment, case
#18-0200796, 02/12/18.
Arway Apron and Uniform
Rental Service Inc. vs.
Ulises Robles/Kanella
South Inc., contracts, case
#18-0200825, 02/12/18.
Sharon Haynes vs.
Wayne Johnson/Johnson
Contracting, contracts, case
#18-0200827, 02/12/18.
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Vincent Ransom-Moore vs.
Concepts by Staib Ltd., bad
faith, case #18-0200841,
02/12/18.
Stradley Ronon Stevens &
Young LLP vs. Insynergy
LLC, contracts, case #18-
0200847, 02/12/18.
Stradley Ronon Stevens
& Young LLP vs. Reflex
Wireless Inc., contracts,
case #18-0200859,
02/12/18.
Ivelisse Carrasco vs.
McCann & Wall LLC,
malpractice-legal, case #18-
0200877, 02/12/18.
Sean and Erika Cronin vs.
Styer Orchard Inc., personal
injury, case #18-0200887,
02/12/18.
Windsor Park Asset
Holding Trust vs. Cross
Keys Investment LLC,
residential owner occupied,
case #18-0200903,
02/12/18.
Deborah Stone vs. Depuy
Orthopaedics Inc./Zimmer
Orthopaedic Surgical
Prod. Inc./Exactech Inc./
Exactech US Inc. et al.,
product liability, case #18-
0200908, 02/12/18.
Celene Zanni vs. Ilya Kim/
Lisa Pappas-Taffer/James
Close/Jennifer Villasenor-
Park/Hospital of the
University of Pennsylvania
et al., personal injury, case
#18-0200927, 02/12/18.
Shelda and Crosson Glover
vs. Gregory Burrell/Terry
Funeral Home Inc., personal
injury, case #18-0200931,
02/12/18.
City of Philadelphia/School
District of Philadelphia vs.
Barbara Thomas/Curtis
Decker/Barley Boys Inc.,
city business tax case, case
#18-0200958, 02/13/18.
City of Philadelphia vs.
lead
C3 LLC, equity-no real
estate, case #18-0200968,
02/13/18.
North Mill Credit Trust
fka EFS Credit Trust vs.
Andrey Moltschanow/
Green Apple Construction
Inc., contracts, case #18-
0200994, 02/13/18.
Gerard McHugh/Realty
Partners of America LLC
vs. Charles Gallub/John
Contrevo/Glenn Clift/
Glovis America/DVC Philly
Roro Partners LLC/DVR
Philly LLC/DVR Group
Philly LLC et al., contracts,
case #18-0201038,
02/13/18.
CAMDEN COUNTY
Robert and Sylvania Muns
vs. Material Building
Supply Inc., personal injury,
case #L-495-18, 02/05/18.
Connell Bounty vs. Cooper
University Hospital/Cooper
Am
University Healthcare et
al., medical malpractice,
case #L-498-18, 02/05/18.
er
ACP Jersey Associates
LLC vs. Scotto Pizza of
ica
Woodbridge Inc./Ron Rizzo
et al., tenancy, case #L-500-
18, 02/06/18.
n
Milton Benjamin vs.
Wegmans Food Markets
Ci
Inc., personal injury, case
#L-501-18, 02/06/18.
ty
Elaine Higgs vs. Home
Depot/Eric’s Lawncare
Bu
Inc./Blue Stone
Contracting Corp. et al.,
personal injury, case #L-
s
509-18, 02/06/18.
Kevin Tussy vs. Salvitti
Plumbing & Heating LLC,
auto negligence/personal
injury, case #L-514-18,
02/06/18.
Alexandri M. Coles vs. New
England Fitness Inc./PFIP
LLP, personal injury, case
#L-522-18, 02/07/18.
LEADS
Rosetta Forster vs. Prism
Career Institute Inc.,
whistleblower, case #L-527-
18, 02/07/18.
Carriss LaBelle vs. Prism
Career Institute Inc.,
whistleblower, case #L-528-
18, 02/07/18.
Maureen Wolf vs. The
Cooper Health System/
Meridian Hospitals Corp./
Genesis Heathcare Corp.,
medical malpractice, case
#L-533-18, 02/07/18.
Mohawk Servicing LLC
vs. Bock and Baker Corp./
Richard Bock/Christine
Baker, book account, case
#L-536-18, 02/08/18.
Gemini Linen and Uniform
Rental vs. Woodstone
Tavern LLC, book account,
case #L-544-18, 02/08/18.
Derek Watson vs. SJI
Holdings LLC/Ramon
Gaber, whistleblower, case
#L-546-18, 02/08/18.
CHESTER COUNTY
De Lage Landen Financial
Services Inc. vs. Upright
Construction LLC/Mark
Pinkham, debt collection,
case #2018-02393-CT,
03/05/18.
De Lage Landen Financial
Services Inc. vs. Quevedo
Pack & Ship Express LLC
dba Pack & Ship Express/
Michelle Bury/El Paso Pack
& Ship Express LLC, debt
collection, case #2018-
02447-CT, 03/05/18.
SRS Distribution Inc. dba
Superior Distribution vs.
ine
Core Roofing & Restoration
LLC/Matt Parker, debt
collection, case #2018-
02451-CT, 03/05/18.
ss
De Lage Landen Financial
Services Inc. vs. MGP
Jo
Printing Services LLC/
Michael Padenich, debt
collection, case #2018-
ur
na
02452-CT, 03/05/18.
De Lage Landen Financial
Services Inc. vs. Great
Mobility Inc./Elizabeth
Sanchez, debt collection,
case #2018-02562-CT,
03/06/18.
De Lage Landen Financial
Services Inc. vs. Cognitive
Behavioral Services Inc.,
debt collection, case #2018-
02564-CT, 03/06/18.
Annette Hess vs. QVC
Inc., premises liability,
case #2018-02566-TT,
03/06/18.
De Lage Landen Financial
Services Inc. vs. Summit
Consultancy Group LLC,
debt collection, case #2018-
02571-CT, 03/08/18.
Sean McDougall/Dana
McDougall vs. Delchester
Equestrian LLC dba
Delchester Farm/Jeana
Hollands, contract,
case #2018-02626-CT,
03/08/18.
Michele Gajderowicz vs.
Engkoh Ltd., premises
liability, case #2018-02627-
TT, 03/08/18.
De Lage Landen Financial
Services Inc. vs. Purple
Tuna Tees Inc./Cary Hinze,
debt collection, case #2018-
02705-CT, 03/09/18.
De Lage Landen Financial
Services Inc. vs. Green
America Inc./Matthew
Gilliken/Angela Jayo, debt
collection, case #2018-
02724-CT, 03/09/18.
RR  Residential
Real Estate
Transactions
CHESTER COUNTY
Mitchellson Corp. to FM
Development Co. Inc., P.O.
ls
- No
tf
or
c om
Box 433, Pottstown 19464;
804 Vaughn Rd., Pottstown
19464, East Coventry
Township ID 18-1-43.19,
$3,750,000.
Patrick J. Rodden and
Stephanie Cascarino
Rodden to Randall Wagner
and John Jarboe, 1422
Tullamore Ln., Phoenixville
19460, Schuylkill Township
#33/ Weyhill ID 27-6-
102.33/27-6-102.34,
$1,600,000.
S. Robert and Daille R.
Sharpless to Vincent A.
and Anaid R. Calvitti,
333 Beaumont Rd., Devon
19333, Easttown #4 ID 55-
5-9.4, $1,065,000.
Tina Bernard to Raymond
C. and Molly Davis, 4 Saw
Grass Ln., Malvern 19335,
Charlestown Township
Charlestown Brae ID 35-4-
138.39, $915,000.
Robert P. and Kathryn J.
Ermilio to Ranney Maxwell
Moran, 14 Fox Chase Rd.,
Malvern 19355-3441,
Willistown Township #23
White Horse Farms ID 54-4-
34, $767,000.
NVR Inc. to Raghunath
Boppanna and Vineela
Harith Bandreddi, 1014
Smithfield Ln., Downingtown
19335, West Bradford
Township #121 Buck
Hill Farm ID 50-4-486,
$645,955.
JPO Spring Oak LP/
Conservatory Group
General Partner Inc.
to Thomas and Melissa
McAndrews, 326 Quigley
Dr., Malvern 19355,
Charlestown Township #70
Spring Oak ID 35-4-212,
$641,930.
NVR Inc. to Caiping Lin and
Bin Zhu, 512 Quarry Point
Rd., Malvern 19355, East
Whiteland Township #464
Atwater Village ID 42-2-486,
m
er
cia
lu
se
$611,905.
Oswaldo A. Nicastro
and Sandra Mancilla to
Theodore B. and Sungmi
Moon, 207 Blue Spruce
Dr., Kennett Square 19348,
Kennett Township #71
Bayard Estates at Longwood
ID 62-4-743, $600,000.
Paul M. Turner and
Annmarie Aideen Turner
to Brad and Rachael
Johnson, 175 Shelbourne
Ln., Phoenixville 19460,
Schuylkill Township #144
Valley Forge Woods ID 27-6-
651, $586,000.
Christopher John Smith
and Anthony L. Richinelli
to Christopher J. Wanner
and Leah M. Silver, 27
Wistar Rd., Paoli 19301,
Willistown Township #8 ID
54-1Q-260, $575,000.
MAB Investments LLC to
Adam Lamb, 49 Stirling
Way, Chadds Ford 19317,
Pennsbury #93 Chadds Ford
ID 64-4J-105, $567,000.
Eugene F. Rosadino Jr. to
Christine P. Smetana and
Joseph A. Spejenkowski,
206 Highland Ave., Devon
19333, Easttown #1 ID 55-
3E-76.2, $559,000.
Robert Handler and Judith
Golden to Sarah E. Elkins,
447 Saunders Dr., Wayne
19087, Tredyffrin #3 & p/o
#4 ID 43-11B-31, $550,000.
Shirley A. Chambers to
Damon A. and Suzette T.
Grilley, 1612 Glenhardie
Rd., Wayne 19087,
Tredyffrin Richard Lane ID
43-6A-4, $538,000.
Kimberly A. Robinson
to John M. and Holly
Conte, 101 Blue Ribbon
Way, Downingtown 19335,
Uwchlan Township #1
Ridings at Uwchlan ID 33-4-
71.1, $535,000.
MONTGOMERY
COUNTY
Merion Partners I LLC/
Tristan Sylk to Lancaster
Merion LLC, P.O. Box 9,
Hainesport, N.J. 08036;
304 Old Lancaster Rd. #C-E,
Merion Station 19066, Lower
Merion Township ID 40-00-
44140-00-1/40-00-44140-
10-9/40-00-44140-11-8
(19 parcels), $2,860,000.
Estella F. and J. Peter
Graeffe to Jonathan J. and
Darlyn P. Heckman, 400
N. Ithan Ave., Bryn Mawr
19010; 401 Thornbrook
Ave., Bryn Mawr 19010,
Lower Merion Township
ID 40-00-27080-00-6,
$880,000.
Jamira Real Estate
Holdings LLC/Thomas
Stafford/Thomas Stafford
to Gregory V. Fecca, 507
Sharpless Rd., Springfield
19064; 1211 LaFayette
Rd., Gladwyne 19035, Lot
1 Lower Merion Township
ID 40-00-29422-00-4,
$844,254.
Stephen M. and Laura
Hudak to Brett Allen and
Christine Dixon, 951 Frazier
Rd., Rydal 19046, Abington
Township ID 30-00-22700-
00-4, $655,000.
Kathryn L. Gaffney/Toll PA
XIV LP/Toll Mid-Atlantic
LP Co. Inc. to David Gejer,
158 Redwood St., Dresher
19025, Lot 35 Upper Dublin
Township ID 54-00-05410-
27-2, $611,302.
Mary Shanon Rollins and
Lorraine D. Oster to Marcia
T. and Patrick J. Johnston,
316 Kent Rd., Wynnewood
19096, Lower Merion
Township ID 40-00-28600-
00-7, $600,000.
Susan L. and Vincent P.
Arcadia to Jennifer M. and
Alex R. McSherry, 1336
62  PHILADELPHIA BUSINESS JOURNAL

WHEN YOU NEED PROFESSIONAL REAL ESTATE ADVICE,

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TRUST THE EXPERT.
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MARCH 23, 2018 63

Stoney River Dr., Ambler
19002, Lot 114 Horsham
Township ID 36-00-10719-
08-1, $585,000.
Brandon Lutz and Thomas
M. McEntire to Taylor
Edward Winslow Trust/
William Sewell Wallace
Trustee, P.O. Box 41389,
Austin, Texas 78704; 812
Springwood Ln., Ambler
19002, Lot 6 Lower Gwynedd
Township ID 39-00-03931-
32-3, $575,000.
Richard E. and Adriane
G. Mampe to Richard R.
Mampe, 25 Copper Beech
Dr., Lafayette Hill 19444,
Lot 55 Whitemarsh Township
ID 65-00-02552-00-2,
$562,500.
Kristen and Thomas M.
Iannarelli to Red Door
International LLC, 3900
Montella Cir., Collegeville
Mark Streit to Harvey S.
Gitlin, 130 S. 18th St.,
Philadelphia 19103; 130 S.
18th St. #2601, Philadelphia
19103, ID 888095852,
$2,300,000.
Saranac Partners to 540 W.
Sedgwick Street LP, P.O. Box
467, Narberth 19072; 540
W. Sedgwick St., Philadelphia
19119, ID 88-1098800,
$1,550,000.
Joseph A. Malone to
Michael L. and Perri M.
Swift, 618 S. 7th St.,
Philadelphia 19147, ID
023225605, $1,500,000.
Donald E. Haviland to
Centra Associates LP, 111
Chestnut St., Philadelphia
19106; 740/742 S. 3rd St.,
Philadelphia 19147, ID 02-
3-1199-00/02-3-1200-00,
$1,350,000.
Am
Alan M. Laties and Deena
Gu Laties to Stacey Martino
and Rene Rivera, 1902 N.
Edgemont St., Los Angeles,
Calif. 90027; 1024 Westview
St./6698R Springbank Ln.,
Philadelphia 19119, ID
213114600/213258619,
$925,000.
Madeline M. and Alert
Dileonardo to Judith V.
McGruther, 1701-15 Locust
St., Philadelphia 19103;
1701-15 Locust St. #1512,
Philadelphia 19103, ID
888110646, $925,000.
The Willings at
Independence Park LP
to Michael and Barbara
Delorey, 211-25 S. 4th
St., Philadelphia 19106;
211-25 S. 4th St. #402,
Philadelphia 19106, ID 88-
8-0382-64/88-8-0382-86,
$860,000.
LEADS
400 Reed Street Owner LLC
to Denise Scobbe, 1438 S.
Lawrence Terr., Philadelphia
19147, ID 01-1-2528-20,
$720,440.
Gregory D. Frattaroll and
Lori Ann Christ to Ying
Fu and Lihua Fang, 704
Captains Way, Philadelphia
19146, ID 888302090,
$700,000.
Matthew E. Raymon to
Jonathan K. and Alexis
Jacobs, Three Hanson
Square, Philadelphia 19147,
ID 022142060, $700,000.
Pamela M. Stiner and
Philip A. Lockwood to Mira
R. Racheva and James C.
Driscoll, 8113 Crittenden
St., Philadelphia 19115, ID
091229400, $645,000.
Joan M. Martini to Mark J.
and Maureen A. Furletti,
B. Berman, 707 S. 16th
St., Philadelphia 19146, ID
301294010, $575,000.
Marta C. and Michael
Silverberg to John M. Wutz
and Kimberly A. Malecka,
2512 Brown St., Philadelphia
19130, ID 15-2244400,
$570,000.
Carkim Holdings LLC to
Kimberly Conaway and
Brett Guido, 2251 Kimball
St., Philadelphia 19146, ID
302245500, $565,000.
JFRN LLC to Lindsey
Zionts, 2030 Montrose
St., Philadelphia 19146, ID
301222100, $560,000.
Elias Pery to Michael
Jacewicz and Bertha
Means, 1811-19 Chestnut
St., Philadelphia 19103;
1811-19 Chestnut St. #601,
Philadelphia 19103, ID
Yu Qing Wang to J&J
Investment LLC, 104
Longford Ave., Malvern
19355; 619 N. 11th St.,
Philadelphia 19123, ID 88-1-
0682-15, $500,000.
CAMDEN COUNTY
Gerald D. Levin to Liberty
Towers Philly LP, 303 Park
Ave., Hainesport 08036; 142-
144 Kings Hwy., Haddonfield
08033, Block 34 Lot 48
Borough of Haddonfield,
$1,935,000.
The Bank of New York
Mellon to L2JMO
Associates, 50 Chews
Landing Rd., Haddonfield
08033, Block 79.01 Lot 5.01
Borough of Haddonfield,
$751,000.
Herbert and Sheila Weiner
to McSean Ung and Lorng
G. Ung, 6 Southwood Dr.,
08043, Block 304.03 Lot
55 Voorhees Township,
$490,000.
Cherry Hill Partners at
Park Place LLC to Christine
O’Hearn, 716 Cantor Trl.,
Cherry Hill 08002, Block
54.01 Lot 5 Qualifier CO716
Cherry Hill Township,
$487,910.
Nationstar Mortgage LLC
dba Champion Mortgage
Co. to Andrew Williams
and Dana Civa, 115 Chews
Landing Rd., Haddonfield
08033, Block 78 Lot 1.06
Borough of Haddonfield,
$446,500.
Rima Stratt-Meyer and
Fred Meyer to Chontea
K. Scott, 7 Alluvium Lakes
Dr., Voorhees 08043, Block
230.29 Lot 4 Voorhees
Township, $405,000.
E. Cole, 110 Golden Meadow
Ln., Sicklerville 08081, High
Point Estates Block 5108 Lot
6, $370,000.
Saul L. and Ari J. Sanders
to Richard and Katie Dodd,
22 Whitby Rd., Cherry Hill
08003, Block 523.08 Lot
12 Cherry Hill Township,
$360,000.
William J. and Theresa
Mignucci to Nicole Gibbs,
6 Monmouth Ave., Berlin
08009, Block 802 Lot 20
Borough of Berlin, $350,250.
CalAtlantic Group Inc.
to Angela and Louriston
Clarke, 6 Mimosa Ct.,
Sicklerville 08081, Block
14802 Lot 89 Gloucester
Township, $349,900.
Estate of Mary Ann Spinosi
to Jimmy Johns Real Estate
Investments LLC, 722

19426, Lot 1 Skippack
Township ID 51-00-00529-
01-4, $500,000.
Michael Stachura to Two Caryl Ln., Philadelphia 888088340, $543,000. Cherry Hill 08003, Block George Band to Ryan and
19118, ID 091162300, Erin Barnes, 209 Norwood Harding Hwy., Carneys Pt.
Lawrence T. Hoyle, 227-31 Sharon Pollsky to Gary Celtic Builders LLC to 524.14 Lot 3 Cherry Hill
S. 6th St., Philadelphia M. and Joy C. Gordon, $604,900. Timothy A. Burke, 2016 Township, $600,000. Ave., Westmont 08108, 08069; 622 S. Edge Park
Block 19.07 Lot 8 Haddon
19106; 227-31 S. 6th St. 2401 Pennsylvania Ave., Michael J. and Valorie S. Martha St., Philadelphia Hillco Builders LLC to Erin Dr., Haddonfield 08033,
er

PHILADELPHIA #1SW, Philadelphia 19106, ID Philadelphia 19130, ID Morrissey to David J. Van 19125, ID 311176800, Township, $405,000. Block 1.01 Lot 4 Borough of
Spooner and Amit Patel,
888035542, $1,075,000. 888151022, $845,000. Houten and Kim M. Olthoff, $529,900. 308 1/2 Westmont Ave., Hovbros Berlin LLC to Haddonfield, $340,000.
ica

500 Walnut Partners LP to

The 2014 Laurie Ingerman BZ Standart LLC to Yan Rodin Parking Partners LP 29 Rex Ave., Philadelphia APA Properties LP to B&H Haddon Township 08108, Dennis Judge and Elizabeth Estate of Robin L. Zang to
Investment Trust, 500-506 Yan Lin, 1140 Tabor Plz., to Mark Schmoockler, 1900 19066; 2520 Christian St., Invest3 LLC, 1704 Frankford Block 19.05 Lot 3 Haddon A. Judge, 18 Remington Heather Serepy and Patrick
Walnut St., Philadelphia Philadelphia 19111; 2021 Hamilton St., Philadelphia Philadelphia 19146, ID 30-2- Ave., Philadelphia 19125; Township, $500,000. Dr., W. Berlin 08091, Block V. O’Leary, 200 E. Knight
n

19106; 500-506 Walnut St. E. Susquehanna Ave., 19130; 1900 Hamilton St. 1910-00, $575,000. 800 N. 63rd St., Philadelphia Andrew Chonofsky 2503 Lot 38 Berlin Township, Ave., Collingswood 08108,
#500, Philadelphia 19106, ID Philadelphia 19125, ID #707, Philadelphia 19130, ID Adam Diomedo to Scott 19151, ID 88-1-125860, to Ricardo Perez, 58 $402,490. Block 19.03 Lot 1 Borough of
Ci

88-8-5012-16, $7,145,650. 313037800, $960,000. 888111074, $825,000. C. Oberlander and Jenna $510,000. Forrest Hills Dr., Voorhees Suzena M. Wilkes to Alisha Collingswood, $305,000.
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CHERRY HILL/ Voorhees/ HADDONFIELD/

Sturbridge Woods LANE OF ACRES
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Hill Estate sits on style Estate w/ 6 full & 2 half baths, 4
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The #1 Agent of the Cherry Hill Home Marketing Center 2017, 2016, 2014, 2013, 2012 The #1 Agent of the Cherry Hill Home Marketing Center 2017, 2016, 2014, 2013, 2012 The #1 Agent of the Cherry Hill Home Marketing Center 2017, 2016, 2014, 2013, 2012
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direct 856-795-4709 office 856-428-8000 ext 142 direct 856-795-4709 office 856-428-8000 ext 142 direct 856-795-4709 office 856-428-8000 ext 142
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ANNE E. KOONS ANNE E. KOONS ANNE E. KOONS

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64  PHILADELPHIA BUSINESS JOURNAL

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B2  ADVERTISING SUPPLEMENT TO PHILADELPHIA BUSINESS JOURNAL
TH OU GH T L EA DE R FO RUM
INSIGHTS
On Navigating the New Tax Law
With the new Tax Cuts and Jobs Act in
place, business leaders in all industries
are seeking information on how it impacts
them. The Philadelphia Business Journal
hosted a Thought Leader Forum with two
tax experts.
Participants were Steven P. Kopew, CPA,
Partner Philadelphia Tax Practice Leader,
RSM US LLP and Thomas E. Barber, CPA,
Partner, Tax Services, Mazars USA LLP.
What are the biggest assumptions or
questions you find yourself answering
about the Tax Cuts and Jobs Act?
Kopew: My clients are interested in
different aspects of the new law,
depending on their circumstances.
However, there are certain questions
that seem to be of high interest to most
clients. For example, should they change
the entity type of their business? For flow-
through entities, they want to determine
if the qualified pass-through income
deduction applies.
Other questions relate to new limitations
such as the new business interest
limitation, the new net operating loss
rules and the new excess business loss
limitation.
They want to know about their ability
to claim the enhanced 100% bonus
depreciation deduction and expanded
Section 179 deduction.
If they have foreign operations, they want
to know about new transition tax that
applies for the 2017 tax year. They are
also interested in other new international
provisions, such as those related to Global
Intangible Low-Taxed Income (GILTI), the
Base Erosion Anti-Abuse Tax (BEAT) and
Foreign-Derived Intangible Income (FDII).
Barber: With any tax legislation that is
passed comes confusion and uncertainty
in terms of what this really means to any
taxpayer. There will be winners and losers
as tax legislation must be revenue neutral
by law.
For individuals, the immediate questions
raised are, “how will this impact me?”
There is the immediate knee jerk that
they will be losing the benefit of itemizing
deductions and personal exemptions, but
with the lower tax rates and expanded
ranges the lower tax rates cover, we are
finding many individuals are net winners.
Even though this Act has been touted
as tax simplification, on the corporate
side of the house, it is anything but that.
Yes, tax rates have dropped, but new tax
provisions have been created and others
have been significantly modified. Yes,
there is 100% bonus depreciation, but we
now see new limitations being imposed
on interest expenses. Multi-nationals now
may be dealing with deemed repatriation
of earnings tax related to their foreign
investments, along with reviewing their
cross-border transactions with foreign
related affiliates they have, which create
U.S. tax deductions. These arrangements
Am
now need to be scrutinized in order to
plan around the maze of rules imposed
under the Base Erosion Anti-Abuse
er
Tax (BEAT) and Global Intangible Low
ica
Tax Income (GILTI) regimes, to avoid
potentially adverse tax consequences.
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What are the three most significant
Ci
changes for corporations in the tax reform
bill?
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Barber: With the most sweeping changes
Bu
in U.S. corporate tax law since the
enactment of the Tax Reform Act of 1986,
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“Even though this Act has been
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touted as tax simplification, on the
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corporate side of the house, it is
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anything but that.”
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THOMAS BARBER
Mazars USA LLP
we see the most significant corporate
tax changes being: (i) the drop in the
Corporate rate reduced to 21% from
35%, beginning in 2018, coupled with
the repeal of the corporate AMT, (ii) the
increase in bonus depreciation from
50 to 100%, starting after Sept. 27, 2017
and (iii) the change in the limitation of
interest deductions to 30% of Earnings
before Interest, Tax, Depreciation and
Amortization (EBITDA).
The drop in the corporate tax rate and the
expansion of bonus depreciation should
free up funds for business expansion/
capital expenditures and dividend
distributions and have already been cited
as reasons why companies have issuing
immediate employee bonuses.
The new interest expense limitation
provision, expands the limitation to
cover all interest and not just foreign
related party interest. This will cause
heavily leveraged taxpayers to review
how their business is capitalized and will
likely impact future financing of capital
expenditures and acquisitions.
Kopew: The C corporation income tax rate
dropping from 35% to 21% produces an
all-in top income tax rate for individual
corporate shareholders of 36.8% (39.8%
when including the net investment income
tax). This tax rate is close to the new top
individual income tax rate of 37%. That
reduction is tantamount to the virtual
elimination of the so-called “double tax
differential” on corporate income if the
income was taxed at the highest individual
rate. However, it is important to note that
certain pass-through income could be
taxed at lower rates. For example, some
pass-through income could be taxed at
an effective 29.6% rate, which is why the
choice of an entity requires discussion
and analysis. The corporate AMT is also
being eliminated. On the negative side,
new limitations are imposed on deducting
business interest and net operating
losses.
How will the reduced federal tax rate
impact the deferred tax assets and
liabilities for financial statement
reporting purposes?
Kopew: With the reduction of the
corporate tax rate from 35% to 21%,
businesses will need to restate their
deferred tax assets and liabilities on their
financial statements to account for the
effective tax rate when those deferred
items will reverse. For example, a company
that had a $1 million-dollar piece of
equipment that was deducted for taxes
in 2017 at a 35% tax rate saved $350,000
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or
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om
in current federal income taxes. If the
financial statement depreciation would
m
occur over the following seven years, then
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the deferred tax liability on the financial
statement would have been $350,000.
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However, with the lower 21% corporate
tax rate, the deferred tax liability will now
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only be $210,000, resulting in a permanent
tax benefit of $140,000. Detailed
se
scheduling maybe necessary due to the
uneven nature of many provisions.
Barber: For years ending December 31,
2017 and thereafter companies must have
their deferred tax balance determined
based on the new 21% rate vs. the old
35% tax rate. Companies with large
deferred tax assets (e.g., net operating
loss carryforwards) will see a deferred
tax charge, while companies with net
deferred tax liabilities (e.g., those with
unrealized portfolio gains) will see
a deferred tax benefit. For U.S. GAAP
purposes, the tax effects of changes in
tax rates are recorded in income from
continuing operations irrespective of the
source of the income or loss to which the
deferred tax item is related, which means
companies with significant deferred tax
balances related to unrealized investment
gains (losses), must run these changes
through their income statement. Unlike
U.S. GAAP, IFRS accounting requires the
changes in the tax rate related to other
comprehensive income (e.g., unrealized
gains(losses) must be recognized in equity
consistent with the recognition of original
amount.
What are the main issues and
opportunities a business owner should
consider when choosing between
continuing to operate as a flow-through
entity (such as an S Corp, LLC or
Partnership) as opposed to converting to
a regular C Corporation due to the lower
21% corporate tax rate?
Barber: While a 21% federal corporate tax
rate is enticing, taxpayers should evaluate
their short-term and long-term goals
before making any decision. Choosing
C corporation status may create more
cash flow and operational flexibility, but
these benefits are diminished to the
extent owners take money out in salary
or dividends. Distribution of earnings
means two levels of taxation, i.e. entity
level and individual level. Also, many
states, including Pennsylvania (“PA”),
have higher corporate rates vs. individual
taxes. The benefits of one level of tax
are especially recognized when an entity
sells the assets of its business. While
the sale would be taxed once as a flow
through entity, it would be taxed at the
C corporation level and again at the
individual level upon liquidation. Further,
the new IRC 199A 20% pass through
deduction means the effective tax rate
for individuals on qualified pass through
income could be as low as 29.6% vs. the
top individual tax rate of 37%, thereby
potentially lessening savings achieved by
converting to a C corporation. There are
other considerations including 1202 stock,
deduction of state taxes and other matters
beyond our scope.
Kopew: One important consideration is
determining an owner’s exit strategy. A
business owner who will hold the business
and transition it to family members
may benefit from the lower 21% federal
income tax rate for C corporations, while
a business that may sell in the next
few years may be better off keeping its
current flow-through entity structure, as
many buyers want to acquire assets that
unfortunately would result in a double tax
to the seller in a C corporation scenario.
Another consideration is to decide
whether you think the new rules will not
be changed again in a few years, as often
happens with major tax reform legislation,
particularly if it is passed on a party-
line vote. Let’s say you are considering
C corporation status for its tax rate
advantages and the ability to defer a good
portion of the tax that would otherwise
be due on reinvested earnings. If you view
the new law as relatively permanent, then
you must still determine whether in fact
you will reinvest most of your income or
distribute it currently.
Will the state of Pennsylvania and the
city of Philadelphia allow a business to
claim the 20% qualified business income
deduction?
Kopew: For federal tax purposes, the 20%
qualified business income deduction
(Section 199A) is a reduction to federal
Adjusted Gross Income (AGI) to arrive at
federal taxable income. Pennsylvania’s
personal income tax system is a gross
income system and does not adopt the
Internal Revenue Code (IRC) or start with
federal taxable income. Pennsylvania does
ADVERTISING SUPPLEMENT TO PHILADELPHIA BUSINESS JOURNAL  B3
permit specific additions and subtractions
to gross income from a business, but there
currently is no provision to permit the
federal 20% deduction. Therefore, it appears
that Pennsylvania’s tax computation would
not include the 20% qualified business
income deduction absent action by the
state legislature to enact a specific state-
level adjustment: (As of the publication of
this article, Pennsylvania has not enacted
provisions allowing for a state-level qualified
business income deduction).
Barber: Philadelphia is one of many
jurisdictions considering both the domestic
and international provisions of the TCJA.
Philadelphia, like many places, does not
automatically conform to the federal tax
code. Because the 20% IRC 199A deduction
is not taken at the entity level, expect that
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there will be no benefit to filers of the
Business Income and Receipts Tax (BIRT),
as the City’s starting point is the entity’s
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“ income or loss as reported or reportable to
the federal government.” Other sections of
the BIRT regulations have adjustments for
pass through entities, and those sections
probably do not encompass the deduction.
Similarly, the starting point of the Net Profits
Tax does not accommodate, what, in effect,
is a personal deduction on the federal level.
Nor does the School Income Tax appear to
give a personal deduction. As of the writing
of this, the Philadelphia Department of
Revenue has not posted any guidance with
regards to conformity with new IRC 199A.
How is the 20% pass-through deduction
calculated?
Barber: This is much more difficult than just
taking 20% of a pass-through’s net income!
That is only the starting point. Assuming
a taxpayer qualifies for the deduction
(and there is much uncertainty about
that!), then they have several hurdles to
overcome, including the amount of wages
paid and their overall qualified business
income from all sources reported on their
Form 1040. Whether a taxpayer qualifies
for the deduction is based on the type
of business, and while there are specific
service businesses that don’t qualify for
the deduction (accounting, legal, medicine,
brokerages, consultants), the statute is
written so broadly that it may pull in,
for example, plumbers. But, as with the
limitations to be discussed below, if a
taxpayer’s overall income is under certain
thresholds, then these businesses will still
qualify.
A taxpayer’s IRC 199A 20% deduction can
be limited to 50% of wages paid by the
pass through, and further limited by a
maximum of 20% of their overall taxable
income. However, all that might not matter
if they are under certain income thresholds,
which range from $315,000 to $415,000 for
taxpayers who file jointly, and 50% of those
amounts for all other taxpayers.
Kopew: A new exclusion or deduction of 20%
of qualified business income will effectively
reduce the tax rate on such income by 20%.
Thus, qualified income otherwise taxed at
the top rate of 37% will be taxed at 29.6%.
Income otherwise taxed at 24%, for example,
will be taxed at 19.2%.
For individuals with income below $315,000
for joint returns, it is more straight forward.
For every $100 of business income, only $80
is subject to tax. The computation is the
same for higher-income taxpayers, except
that more restrictions apply to qualify for
the deduction. The business must either
pay substantial wages (twice the amount
of the 20% deduction being claimed) or
invest in substantial amounts of tangible,
THOUGHT LEADERS
depreciable property used in the business.
In addition, the business may not be on a list
of forbidden service businesses in various
fields such as law, health, accounting,
consulting, brokerage, financial services,
performing arts, actuarial science, and some STEVEN P. KOPEW
others.
What is Section 965? Please explain why is Partner, Tax Services
this important to business owners. RSM US LLP
Kopew: One of the most significant new
provisions of the Tax Cuts and Jobs Act is the
one-time deemed repatriation of previously
untaxed post-1986 earnings and profits of
specified foreign corporations. Coordinated
with the new participation exemption rules, Steven P. Kopew is the partner who heads the Philadelphia tax
the deemed repatriation of previously tax- services group and has been with the firm since 1993. Before
deferred earnings marks a substantial shift his current position, he was a member of the Arthur Andersen
in the U.S. tax landscape for internationally & Company’s tax department.
active taxpayers.
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Steve leads all aspects of tax engagements including tax
Depending on whether the earnings are held planning, tax compliance and business advice. His clients
include complex international and multi-state private and
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in liquid or illiquid assets, two different tax
rates (15.5% or 8%, respectively) effectively public companies. Steve invests significant time consulting
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apply under Section 965. The deemed with his clients who are acquiring, selling or reorganizing their
repatriation rules will begin affecting tax business. He reviews and consults on complex accounting
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returns for years ending Dec. 31, 2017. Fiscal for income tax and uncertain tax position engagements. He
Bu
year taxpayers will be required to comply has extensive experience in resolving federal and state tax
with the Section 965 rules on their first controversies.
s
return whose year ends after Dec. 31, 2017.
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Steve has extensive experience and expertise in the
Because of the effective dates of the manufacturing, wholesale distribution, technology and
deemed repatriation and related tax liability, financial institutions industries and is an active member in the
ss
affected taxpayers will need to quickly firm’s related industry teams. Steve has a Bachelor of Science
assess different attributes of their foreign from Drexel University and a Master’s degree in taxation from
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subsidiaries, including each company’s Temple University.
historical earnings and profits, balance sheet
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positions, foreign tax pools, and related
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party transactions.
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Barber: TThe Tax Act introduced a one-time
mandatory repatriation tax under Section
-
965 effective for tax year 2017 (“Section 965
No
tax”, at reduced rates). The Section 965 tax
is a deemed distribution of the companies
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deferred foreign income with respect to
certain Specified Foreign Corporations
or
THOMAS E. BARBER, CPA
(“SFC”). The deferred foreign income refers
to a SFC’s post – 1986 earnings and profits
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Partner, Tax Services
om
(“E&P”). A U.S. shareholder would pay the
Mazars USA LLP
Section 965 tax on their E&P as determined
on the measurement dates of Nov. 2, 2017 or
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Dec. 31, 2017 (whichever amount is greater).
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The reduced tax rate is accomplished via
a deduction against a U.S. shareholder’s
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subpart F inclusion amount that is necessary
to result in a 15.5% tax rate on cash or cash
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equivalent E&P, and an 8% tax rate on non- Tom Barber provides tax services predominately to the insurance
cash E&P. industry, and leads the tax support team for GAAP, IFRS, and
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Statutory financial statement audits.
Business owners must be cognizant that
the deemed repatriation is not elective, Tom’s more than 30 years of experience include leading
except to the extent the Section 965 tax numerous tax engagements for both public and non-public
may be paid over a period of eight years or enterprises, including preparing and reviewing income tax
if shareholders of an S-corporation avail returns and income tax provisions. He has advised on Internal
themselves of a special deferral election Revenue Service audit and tax controversy, co-sourcing and
with respect to their Section 965 tax liability. out-sourcing arrangements, tax basis analyses, deferred tax
Business owners also may take advantage of validations (GAAP and Statutory), accounting method changes,
foreign tax credits or net operating losses to tax due diligence, and Sarbanes-Oxley compliance.
offset the Section 965 tax.
Prior to joining Mazars in 2011, Tom held the position of Executive
Note the IRS released IR-2018-53 on March Director at Ernst & Young LLP’s Financial Services Office –
13, 2018 answering frequently asked Insurance Tax Services practice. Previously, Tom spent six
questions (FAQs) regarding how to report years as a Managing Director with LECG Corp. (formerly Smart
and pay the Section 965 tax. Business Advisory & Consulting, LLC), specializing in tax services
for the insurance industry.
How will the Corporate AMT Repeal/Refund
affect a business moving forward? Tom has a Bachelor of Business Administration in Accounting
from Temple University.
Barber: With the repeal of the Alternative
Minimum Tax (“AMT”) beginning after Dec. 31,
2017, corporations no longer will have to deal
with this parallel tax regime.
B4  ADVERTISING SUPPLEMENT TO PHILADELPHIA BUSINESS JOURNAL
AMT credit carryforwards can still be used
to reduce regular tax and any remaining
unused.
AMT Credits are refundable no later than
2021. However, it should be noted that there
is uncertainty as to whether AMT credit
carry forwards that are now refundable
by statute are subject to past Section 383
limitations or future Section 383 limitations
based on post-2017 ownership changes.
Because any available AMT credits are fully
refundable, corporations can now recognize
this deferred tax asset in their U.S. GAAP tax
provisions if previously it was subject to a
full or partial valuation allowance as it is
guaranteed to be utilized and/or refunded
no later than 2021.
Kopew: The corporate AMT was repealed,
and existing AMT credits can offset
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regular tax liability and, if not used, will
be refunded. Therefore, the full AMT
credit will offset regular tax liability or be
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refunded by the 2021 tax year. For financial
statement purposes, this could result in a
release of a valuation allowance against
any AMT credits since those credits are now
ultimately realizable, either as a reduction
of future regular tax liability or as a refund.
The new partnership qualified business
income deduction affects certain business-
types differently. Walk us through the
differences between service trades or
businesses and small business stock and
who qualifies and who doesn’t for the
qualified business income deduction.
Kopew: As noted, certain service trades or
businesses are generally ineligible for the
20% deduction if they exceed the income
We study
changing tax
laws so you
don’t have to.
RSM and our dedicated team of
tax advisors constantly monitor
the latest regulations and laws.
With extensive middle market
experience, we’re able to
tailor solutions to your specific
challenges. And our global
resources help your company
advance with confidence.
rsmus.com
RSM US LLP is the U.S. member firm of RSM International, a global network of independent audit, tax and consulting firms.
Visit rsmus.com /aboutus for more information regarding RSM US LLP and RSM International.
threshold. Using language from Section
1202 (the qualified small business stock
definition), specified trades or businesses
include any trade or business involving
the performance of services in the fields
of health, law, accounting, actuarial
science, performing arts, consulting,
athletics, financial services, or brokerage
services. Certain financial trading and
dealing activities are also excluded.
Engineering and architectural firms were
removed from this “bad” list in the final
enacted legislation but are included in the
definition of qualified small business stock
in Section 1202.
However, there is a catch-all category
that is somewhat vague and confusing. It
excludes any trade or business where the
principal asset of such trade or business
is the reputation or skill of one or more of
its employees or owners. This test could
effectively bring architects and engineers
back into the forbidden list – and exclude
many other businesses – possibly in a
manner that was not intended. On the
other hand, it is not clear that similar
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words in Section 1202 and the new pass-
through rules will be interpreted and
applied similarly because the policies of
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the two provisions are quite different. We
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are awaiting more guidance from the IRS on
these matters.
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Barber: While the IRC Section 199A
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business income deduction and IRC Section
1202 small business stock exemption
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each create tax savings, fitting into their
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provisions is another matter.
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The Section 199A deduction is available
to sole proprietors and owners of pass-
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through entities. The deduction is equal
to 20% of the qualified business income,
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subject to certain limitations. However,
businesses that perform services in the
fields of health, law, accounting actuarial
science, performing arts, consulting,
athletics, financial services, brokerage
services, and investment management or
any trade or business where the principal
asset of the trade or business is the
reputation or skill of one or more of its
employees or owners do not qualify for
the deduction. Real estate enterprises,
manufacturers and distributors are
examples of companies that should benefit
from the IRC Section 199A deduction.
Notably, architects and engineers are not
excluded from the Section 199A deduction.
The Section 199A deduction is still available
to owners of nonqualified businesses if the
owner’s taxable income is below a specific
threshold.
The AICPA has asked for guidance from the
IRS on many IRC 199A related items. The
IRS is asking the practitioner community to
provide specific areas on which they want
guidance. We’ve only seen the beginning…
How do you advise clients on the Tax Cuts
and Jobs Act to make it easier for them to
navigate?
Barber: There is a wealth and a flood of
information in the news, in print and on
the web that our clients see almost every
day, that quite frankly can be overwhelming
and intimating to some. It’s our duty as
tax advisors and consultants to meet with
our clients to tailor a plan to help them
understand what U.S. tax reform really
means to them and help them to plan
accordingly in order to put them in the best
place they can be from a tax perspective.
Also, it is important to advise them that
there many questions that are unanswered
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or
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In today’s ever-changing international arena,
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keeping up with the latest regulations and
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compliance issues is critical. Whether you’re
a U.S. business owner, individual with
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international connections and overseas
operations, or a foreign entity conducting
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business in the U.S., Mazars professionals
can aassist you.
Tom Barber
Partner
267.532.4307
Tom.Barber@MazarsUSA.com
as we await additional guidance to be
provided as many of the provisions are not
clear.
It’s important to meet with our client’s face
to face, listen to their needs and concerns
and then walk them through the relevant
pieces of the Act that directly impact them.
Each client’s fact pattern is unique, and we
must target sections of the Act in relation
to the client. Some client’s care mostly
about the cash tax implications, estate
planning and wealth transfer while others
need to understand what that means to
their companies’ financial statements and
effective tax rate. Small businesses are now
questioning their tax entity form, should
they be an S-corporation, partnership or
C-Corporation.
Kopew: The TCJA has many complex
provisions and can be overwhelming.
Some provisions may apply but have little
effect for a specific taxpayer, while other
provisions can have a tremendous impact.
The first thing I would recommend is to
have your tax advisor go through the Act
and determine which provisions affect your
business. Then, they can help you ascertain
which ones are likely to have a material
effect on your tax liability and assist with
further analysis related to the provisions
material to you.
This will help you focus your initial
planning on the most material provisions.
This law was enacted on Dec. 22, 2017
after speeding through the legislative
process. There are many provisions that
require further clarification and additional
guidance from the Treasury and IRS.
Therefore, tax planning should start now
but may need to be updated as additional
guidance is issued.