ROI-NJ.COM Sep tem b e r 2 4 , 2 0 1 8 $2.

50

MR. GRAY GOES TO … How a local lawyer GROWTH PLAN Kim Ann Mink intends to ALL FIRED UP One of the biggest rifle makers
became part of Mueller investigation. Page 4 make Innophos a billion-dollar brand. Page 8 in the U.S. is based in Hudson County. Page 15

ROI-NJ Special Report

CAMDEN 2.0
New office would bring together firms, residents
BY ANJALEE KHEMLANI
akhemlani@roi-nj.com
Camden Mayor Frank Moran and U.S. Rep.
Donald Norcross announced last Wednesday
the launch of a new initiative to act as a hub
for the county, the city, employers, career
sites, training programs and city residents.
It includes a new office in the city’s
administration, the
details of which are still
being ironed out. The
ultimate goal of the
office is to help prepare
residents for positions at
Donald companies in Camden.
Norcross City spokesman
Vincent Basara said the initiative was part of
the mayor’s campaign before he was elected,
but was spurred by recent comments critical
of the city’s workforce.
“This was always a priority for him,”
Basara said. “The city is doing well, in terms
of economic development.
“The difference now is that you’re
speaking with the HR departments … so,
when a job comes up, making sure that
this office is coordinating with the large
employers or midsize employers, and
making sure the pipeline we’re preparing is
ready to apply for the jobs.”
The event was held at a building on
Rowan University’s Camden campus.
Norcross (D-N.J.) said there will be
dedicated personnel to help facilitate the
CONTINUED ON PAGE 28

Local officials
confident the city
is turning a corner
BY ANJALEE KHEMLANI
akhemlani@roi-nj.com

Camden’s incremental successes have been well-documented,

whether it is the relocation of several large companies, more
schools opening campuses or expanding, increased graduation
rates, decreased crime rates or the unique programs being
launched to encourage greater community engagement.
While it may be too early to tell whether Camden can
maintain its current momentum — especially in light of some
prominent CEOs’ recent issues with the workforce — virtually
all invested in the city remain optimistic.
“I don’t know any other city in the country that is moving
at the clip that Camden is moving,” Kris Kolluri, CEO and
president of Cooper’s Ferry Partnership, said recently.
Here are some aspects of life in Camden that are helping
the city grow, according to business leaders.
Camden hopes to maintain its economic momentum. —
­ FILE PHOTO CONTINUED ON PAGE 28

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PEOPLE IN THE NEWS

STAFF WRITERS
Meg Fry UPCOMING EVENTS

10/06/18
mfry@roi-nj.com
@megfry3 ROBERT L. BARCHI JOHN STRANGFELD
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7th annual 4-miler at Garret Barchi, the president of Strangfeld, the longtime CEO
Mountain Rutgers who has
ART DIRECTOR of Prudential,
overseen such
Robert F. Russo
WHAT: Run/walk fundraiser announced
rrusso@roi-nj.com major changes
for St. Joseph’s Children’s his retirement,
as the integration
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of the former
WHEN: Saturday, October 6, 30. He will be
BUSINESS University of
2018; 8:30 – 11 a.m. succeeded by
OPERATIONS Medicine and Charles Lowrey,
DIRECTOR OF WHERE: Garret Mountain Dentistry of New Jersey and currently executive vice
OPERATIONS Reservation, 288 Rifle Camp the college joining the Big Ten, president and chief operating
Chris DeCellio Road in Woodland Park agreed to remain on the job for officer, International Businesses
cdecellio@roi-nj.com
More info: at least two more years. of Prudential. Vice Chairman
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stjosephshealth.org/sjch Mark Grier is also retiring.
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ROI-NJ.COM September 24, 2018
Making suburban … urban
Solution to state’s dying malls and empty office parks could be the creation of mini urban centers
E
llen Dunham-Jones literally has written the book on
suburban redevelopment. Her effort, “Retrofitting
Suburbia,” came out in 2009 (ahead of its time). She is
working on its latest update.
So, when the Georgia Tech professor came to Rutgers
University to discuss her decades of research on the subject,
it wasn’t hard for her to point out some of the numerous
municipalities around the country that
are solving their problems with dying (or
closed) malls or vacated suburban office
parks.
Belmar, in Lakewood, Colorado,
was one of the first malls to be recreated
in what Dunham-Jones called the new
urbanism, which is an urban mixed-used
facility in a suburban location.
And University Town Center in Hyattsville, Maryland,
is a great example of an outdated suburban office location
turned into a mini urban city.
So many areas across the country have urbanized their
suburbs, she said, creating work-play environments that
people want. More importantly, she said, they are locations
where young people can afford to live.
Dunham-Jones said New Jersey — with as many dying
malls and outdated office parks as any other state — can
copy the model.
“(It) has the type of properties that are primed for this
redevelopment,” she said.
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bags (or don’t!) and find your perfect getaway in the Garden State — it’s closer than you think.
Tom Hughes, publisher & chief revenue officer
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Of course, then there’s the Jersey reality.
Dunham-Jones knows it. And don’t be fooled by the
current Georgia Tech address; she’s no outsider. Dunham-
Jones was born in Jersey, raised in Jersey and educated in
Jersey (undergraduate and graduate degrees from Princeton).
She’s well versed in the state’s biggest hinderance to
redevelopment.
“New Jersey’s fractured system of governance — very
small townships and boroughs — means that, also, the
planning departments tend to be quite small,” she said.
“The places where you tend to see a lot more ambitious
retrofits are places that have a big county planning
government and a lot of folks who have the capacity to
negotiate these very complex and very customized public-
private partnerships.”
The esteemed panel that followed her at the event at the
Bloustein School quickly agreed.
Marc Pfeiffer, senior policy fellow, talked about the
complicated tax structure.
Charles Latini, president, American Planning
Association-New Jersey, talked about a lack of leadership —
at all levels of governance.
Carl Goldberg, the longtime developer and co-chair
of the executive committee of the Rutgers Center for Real
Estate, said the biggest problem is just getting people to talk
about the problem — and its potential solutions.
“I can’t tell you how many dozens of mayors won’t even
open the doors to have a conversation,” he said. “So, there
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dinner at Robert’s — the in-house steakhouse.
Hard Rock Hotel & Casino Atlantic City
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ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Editor’s Desk
is no public forum that ever takes place because they don’t
even allow you to get to that public conversation.
“And that’s the horror of home rule here in the state of
New Jersey, and why it’s really crippling the future.”
There is some hope.
Morristown Mayor Tim Dougherty has been a key part
of making his town one of the great development success
stories of the last two decades. He said the Morristown
model can be copied.
“It’s all doable if you have people who are willing to pull
up your sleeves and leaders who will not stop when they
have two people who say, ‘You can’t do this,’” he said.
“(Leaders need) to be out front and get legislative bodies
to work with you.”
Dunham-Jones said the payoff is worth it.
Creating mini urban locations in the suburbs provides
a way (and a place) to keep millennials in the state — one
of the state’s biggest problems. She said examples across the
country show these new suburban urban spaces are a boom
for the more authentic urban spaces.
Best of all, she said, no one is hurt by creating them.
“None of the projects I showed involved demolishing
a single family house,” she said. “None of these retrofits are
taking away anybody’s existing choices how to live, they’re
just taking dead, dying properties and now adding choices for
a more urban lifestyle in suburban locations for that growing
part of the market that is looking for a more urban lifestyle.”
— Tom Bergeron
Hudson River cruise
2½-hour tour. Cruise north along the Hudson
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Spirit Cruises, Lincoln Harbor Marina,
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Price: $67.90 per adult
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Law
Gray goes to …
Mr.
David Gray of Gray Law Group in his law office in Whippany. — ROI-NJ PHOTO
Big moment for small-town N.J. lawyer: David Gray is confident
as he travels to D.C. to represent key figure in Mueller probe
BY TOM BERGERON
O
tbergeron@roi-nj.com
n a recent Thursday night,
David Gray squeezed
his 6-foot-5-inch frame
into the tiny chairs that
make up a second-grade
classroom during Back
to School Night at the elementary school his
kids attend in Sussex County.
The next day, he went to the law office that
bears his name on Route 10 West in Whippany
and did work on a real estate transaction (a
restaurant in Morris Plains is being sold), a
divorce case (surprise, surprise: something
came up there) and an employment case
relating to the departure of a bank president.
Last Monday morning, he headed to
Washington, D.C., handling the defense of
a client who has been subpoenaed in the
Mueller investigation.
Of all the twists and turns and
drama associated with Robert Mueller’s
investigation, this may be the hardest to
believe: The lawyer for Jerry Corsi — an
investigative journalist and/or conspiracy
theorist who has written best-selling
books, worked for InfoWars and is being
subpoenaed to discuss his relationship with
former Donald Trump adviser Roger Stone
— works in an eight-person office where the
phone often is answered by Gray’s wife, Ivana.
Gray, 40, has a quick wit and an easygoing
nature. But he understands the seriousness
of the situation. And he understands some
legal experts may feel he’s out of his league
representing Corsi.
He just doesn’t agree with them.
“I have a duty to my client to say, if I feel
I’m not the right person (to represent them),
to refer them to the right person,” he said.
“I’ve had some very honest discussions with
Dr. Corsi and his family about that. And I’ve
got to tell you: I am 100 percent convinced,
as is Dr. Corsi and his family, that I am the
right person for it.”

Gray, a 2003 graduate of the Seton Hall
University School of Law, opened his own
practice — the Gray Law Group — in 2007.
The firm, which has three attorneys, does
most of its work representing families and
small businesses.
That’s how he got connected to Corsi, a
resident of Denville, five years ago.
Corsi, 72, was awarded a doctorate
in political science and government from
4
Harvard in 1972 and has written six New
York Times best-sellers, according to a
recent bio. He most recently was the co-
author of “Unfit for Command” and author
of “The Obama Nation.”
And he has a long history of writings
connected to presidential politics, Gray said.
“He is the guy who came up with the swift
boat conspiracy involving John Kerry, which
jammed him up,” Gray said. “He’s the one who
came up with the birther issue on (President
Barack) Obama and jammed him up.
“He tried to do everything he could to
help Donald Trump get elected and, in the
middle of that campaign, he had a lot of back
and forth with a guy named Roger Stone,
who was with the Trump campaign — and
there was a lot of discussion of back and forth
involving WikiLeaks and Julian Assange.
“That’s what this is about.”
On Aug. 28, Gray got a call from Corsi.
“I just got a subpoena from the FBI,” Corsi
told Gray. “And Robert Mueller’s name is on it.”
Conversation Starter
Reach Gray Law Group at:
graylawgroupnj.com
or 973-240-7313.
September 24, 2018 ROI-NJ.COM
Gray, who had handled some smaller
legal matters for Corsi in the past, said he
began reviewing the potential issues in the
case with Corsi.
“In going over all the information, Dr.
Corsi was involved in all of these articles and
publications during the campaign, but, at
the end of the day, he’s certain he didn’t do
anything wrong,” Gray said.
Gray said they both realize investigations
such as these can go in any direction. And
both feel Corsi is in the clear.
“If they can’t get you on one thing,
there’s always underreported tax fraud or
something like that,” Gray said. “But (Corsi’s)
also certain he’s never committed tax fraud
or underreported income or anything like
that. He’s clean as a whistle across the board.”
For Gray, that meant there was one
logical thing to do.
“We developed a strategy where
we’re going to call and cooperate with the
subpoena,” he said. “There have been other
people served with subpoenas whose strategy
is different, where they have not cooperated
with the subpoena or filed motions to
invalidate the investigation entirely.
“Our strategy was to cooperate and
testify truthfully pursuant to the subpoena.”
Because of that, an appearance before a
grand jury was put on hold.
Last week, they sat across from attorneys
on the investigation and answered questions.
Gray is not sure how long the discussions
will last — he had hoped it would just be a
few days, but that proved not to be the case.
But, even as he planned a second trip to D.C.
last week, he figured the talks will end with
investigators wanting Corsi to repeat some of
his remarks to a grand jury.

Gray does not feel his client will be
charged with anything. But he understands
everything is on the table.
“They have not charged Dr. Corsi with
anything, but they have the power and legal
authority to file charges against people, and
that’s not lost on me,” Gray said.
The fact that so many high-powered
Washington, D.C., lawyers would like to take
his place isn’t lost on him, either.
“I have no doubt in my mind that
they’d be champing at the bit to represent
Dr. Corsi,” he said. “There are the high-
powered D.C. lawyers who would love to
get in on this case. There’s only a handful
of lawyers in the world who are involved
ROI-NJ.COM September 24, 2018
in the Mueller investigation.”
Gray feels his matter-of-fact ways could
make him better qualified.
“I have interacted better than I think a
D.C. lawyer would with the special counsel’s
office,” he said.
Gray feels the law is the law.
“On the one hand, you could look at
this and say, ‘Wow, this is really big and
intimidating,’ but it’s not really how I look at
it,” he said. “The investigators at the special
counsel’s office are real people. We’re all
operating under this framework of laws.
And, here’s a little secret about the legal
business: None of this is rocket science.
“They want to know what information
he has. He, by law, has to testify truthfully.
There’s just no ifs, ands or buts about that.
So, we can make a mountain out of a mole
hill and get a high-powered D.C. lawyer to
turn this into something it’s not, or we can do
what the law says we have to do a deal with it.
And that’s what we’re doing.”
Gray recognizes the lawyers on the other
side of the table are of top caliber.
“These guys are not good attorneys,
they’re great attorneys,” he said. “They are
extraordinarily bright. They are probably the
best of the best.
“Here’s where I see their smarts as a
lawyer. They are extraordinarily prepared.
And they are very strategic on getting
information and what they disclose. They are
so well-prepared, they don’t miss a beat.”
Gray knows he will be pressed to match
the investigators.
“It’s heavy lifting, yes,” he said “But it’s
certainly not outside the scope of what we
can handle.
“It’s great to be a part of it, but, if you
think you have to be a high-powered D.C.
lawyer to handle this well, who could be
qualified to begin with?
“There’s only a handful of lawyers
who are going to have some contact with
Mueller’s investigation one way or another. I
don’t think you have to be a high-powered
D.C. lawyer to be one of those lawyers.”

That sale of the restaurant in Morris
Plains? The client is paying the same rate as
Corsi.
Gray won’t disclose what he is charging
— he’s just confident he’s charging far less
than a big-shot attorney would.
“I’m guessing I’m probably a fraction
of what a high-powered D.C. lawyer would
cost,” he said. “I don’t want to get into my
fees, but it’s no different than what I would
charge anyone else.
“There’s no premium on my fee because
we’re dealing with the Mueller investigation,
you know. It’d be the same if we were dealing
with the local prosecutor’s office.”
Gray, who has been on the council in
Byram Township since 2014, said he has no
interest in using this case to propel any sort
of career outside of law.
And he said he hasn’t thought for a
second how representing Corsi could impact
his law business.
“My goal is to represent Dr. Corsi to the
best that I can,” he said. “I don’t know how it
would play out in the future one way or the
other.
“I haven’t really thought about how it
would help the firm, because, frankly, I’m
A TRIBUTE TO THE ORIGINALS:
The women who shaped our world
Stacy Gilbert, CPA and Vicki Dill, MBA
America recently celebrated the
anniversary of Women’s Equality Day,
commemorating the 1920 adoption of
the 19th Amendment to the U.S.
Constitution, granting women the right
to vote. It’s important to remember that
the adoption of this amendment did
not happen out of the blue, or in a silo,
it resulted from the bravery of women
like Susan B. Anthony, Elizabeth Cady
Stanton, and many other suffragists,
who chose to embark on the
unquestionably long journey to gain
the right to vote.
As Citrin Cooperman prepares for our
5th Annual Women at the Wheel –
(NJ) event, we reflect on the
inspirational stories of our past
honorees, along with the remarkable
women who will soon share their
stories at our upcoming event on
October 4, 2018, and we are reminded
of the ‘originals’ – the women who
believed in the fundamental truth of
their premises and ideals, and whose
actions changed our world forever.
What drove the women of our past is
not some magic formula, or an ability
granted to a select order of individuals,
but a forged certitude that kindled their
courage and persistence. So how can
you ‘bottle’ that belief, and inspire
5
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
thinking about how it would help Dr. Corsi,
because we’re not out of this yet.”
He admits representing Corsi is different
than anything else he’s done. But he said he’s
ready and qualified — and that he’ll take with
him the lessons he learned while clerking for
Judge N. Peter Conforti after law school.
“When I clerked for Judge Conforti, I
learned that judges are human beings just like
everybody else, and it was a great experience,”
he said. “People on this investigation are
human beings just like everybody else. No
other women to be the champions of
their ideals, in order to improve our
world?
A bestselling book called “Originals:
How Non-Conformists Move the World”
by Adam Grant, a Wharton professor
and one of the world’s top 25 most
influential management thinkers, talks
about what it’s like to make a profound
difference, and what commonality
there is among those who are catalysts
of meaningful change. The wisdom of
this book is that it gives the reader a
feeling of hopefulness – a belief that we
can, if we truly want to, see the world
differently, and that all of us have the
potential to be the agents of change.
Grant shares several powerful ideas,
based on studies that span multiple
industries, and teaches us that choosing
to dissent, to challenge outdated ideas
and to reject conformity, can literally
improve our world. Without giving
away the book, the lessons to be
learned are; managing your fear,
nurturing originality in others, and
being an active participant in building
a culture that embraces dissent, are
akin to being able to ‘bottle’ those
beliefs that inspire sweeping change.
“… doing what they
did because it was
who they are … “
The scores of women originals who
impacted our world all had different
stories – they lived in different times,
were from various socio-economic
backgrounds, had different families
and support systems, etc. – but they
Citrin Cooperman is a full-service CPA
firm, currently ranked among the Top
25 in the United States. We have been
serving New Jersey business owners
since 1979, providing tax planning and
tax compliance, audit and attestation,
and business consulting services to help
clients grow a successful and profitable
business. citrincooperman.com
more, no less.”
It taught him he could compete with
anyone, he said.
“I don’t want to be selfish and do my client
a disservice by handling a case that people
think a big-time D.C. lawyer should handle,
but those big-time D.C. lawyers know the
same amount of criminal law that I do, and
the people handling the investigation are all
operating under the same legal framework,” he
said. “So, should there an intimidation factor?”
twitter: @tombergeron5
also had some things in common,
namely, authenticity. Undoubtedly
they also had courage, doggedness,
and the like, but that came in different
degrees and for different reasons. They
were not all visionaries, who designed
an outcome – some simply arrived at
an opportunity that enabled them to
act. It was their authenticity, and doing
what they did because it was who they
are, that makes them originals. They
did not care about, or perhaps even
consider, whether there is enough room
for them and their ideas. They did not
limit themselves because of societal
norms and enforced gender inequality,
they simply acted within their truth.
Swiss psychiatrist, Carl Gustav Jung,
who emphasized the importance of the
individual psyche, said, “The privilege of
a lifetime is to become who you truly are.”
When our actions and words are
congruent with our beliefs and values,
but do not conform to what we have
been told we should be, and how things
ought to be, is where the extraordinary
takes shape. It is the place from which
change proliferates.
Believing in this premise, sharing it
within our various social and
professional communities, and
teaching future generations to adopt
this way of thinking, enriches the
world for everyone. These are the
reasons why we should continue to
share the stories of the originals – the
women who shaped our world. It is
also the reason why we endeavor to
draw attention to this authenticity
within these women’s stories – to plant
the message, “If she can, so can I.”
Stacy Gilbert, CPA is a partner and member of Citrin
Cooperman’s Women’s Initiatives (CC WIN), with over 30
years of practical experience as a strategic advisor to
privately-owned businesses across specialized industries.
She moderates the NJ Women at the Wheel event.
sgilbert@citrincooperman.com
Vicki Dill, MBA is an associate director of marketing and the
organizer of the NJ Women at the Wheel event. With over
20 years of professional services marketing experience, she
oversees marketing strategy and implementation for the
New Jersey office, as well as certain firm-wide niche
practices and business units. vdill@citrincooperman.com
ROI-NJ RETURN ON INFORMATION-NEW JERSEY September 24, 2018 ROI-NJ.COM

calling
Gibbons has created specialized, multidisciplinary team
to handle the many legal issues swirling around education
BY TOM BERGERON
tbergeron@roi-nj.com

Higher education legal issues have dotted the media landscape all year,
with cases involving Title IX, sexual assault, coverups and affirmative
action selection processes leading the way on the national scene.
In New Jersey, issues involving the recent (and current) building
boom, intellectual property, public-private partnerships, cybersecurity
and a host of things involved in the growing wave of incubator and
startup spaces are commonplace.
It was with this backdrop in mind that Newark-based Gibbons
P.C. formally launched its Higher Education Team, a multidisciplinary,
focused group, this year.
Kristin D. Sostowski, a director in the firm’s Employment &
Labor Law Department, was named team leader.
Sostowski, who has worked with higher education clients for
more than a decade, will lead a team of approximately 40 attorneys.
Sostowski said Gibbons has long been a leader in the area, but the
growth of clients and issues led to the creation of the formal group.
Newark-based Gibbons P.C.’s Higher Education Team, a multidisciplinary, focused group. —
­ GIBBONS P.C. “Gibbons has represented higher education clients, primarily in

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withum.com/manufacturing-transformation
Global Advisory and
Accounting Network

6
ROI-NJ.COM September 24, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

New Jersey, but also outside the state, for a around the country in some way, shape or engaged with our real estate property practice, she said. “It’s definitely a trend that we
lot of years,” she said. “We currently, or in form, particularly given with our corporate practice and with our work are seeing, and it leads to regulatory and
recent years, have represented a significant the evolving federal around public-private partnerships,” she said. government affairs work and corporate work.
percentage of both public and independent guidance around that “That’s definitely been a significant area.” “IT work — given what an important
schools in the state in some capacity. issue,” she said. “It is Sostowski said higher education economic driver and incubator many of
“What has changed is that law firms have something that every institutions becoming more involved with the schools are becoming — is becoming
become more focused on … some of the school needs to remain businesses is spurring more need for counsel. increasingly important, too,” she said. “Data
areas where they do a significant amount of current on. And that’s “Many of the colleges and universities privacy and security is a big issue. Colleges
Patrick
work, higher education being among them. definitely an area where in the state are really playing an important and universities have a massive amount
Dunican
We are developing teams to offer more we do a lot of work.” role in driving innovation with the research of data, and much of it in a decentralized
multidisciplinary approaches.” As is the building boom, Sostowski said. that they’re doing and also working in fashion, which raises a lot of issues.”
Sostowski said the group includes “That’s an area where we have been actively collaboration with New Jersey companies,” twitter: @tombergeron5
members from each of the firm’s nine specialty
areas, including commercial litigation,
employment, regulatory and government
affairs, intellectual property and real estate.
Sostowski said the group is providing
advice, counsel, training and litigation
services with laws particular to the field,
as well as requirements for financing,
building, hiring, firing, contracting with
vendors, licensing and protecting intellectual
property, advocating for their interests, and
undertaking various corporate transactions
and other key operations.
Members of the team also conduct
internal investigations on behalf of clients and
represent them in external investigations —
and assist them on crisis management and

BRIGHT IDEAS
crisis communications to ensure that the
reputations of the schools are preserved.
“It’s been a busy practice area,” she said.

MATTER.
“There’s been an uptick in the amount of

efficiency matters
work.
“I think that the practice of law is by
nature a collaborative endeavor. So, given
our focus on helping to solve problems,
having this dedicated group really allows for
collaboration across practice areas. Bringing
to bear the resources and the talents of
multiple people from our team there is
helpful to our clients.”
Patrick Dunican, the managing director
at the firm, said establishing a formal team
made sense.
“With four public research universities,
seven state colleges, 15 independent schools
and 19 community colleges, New Jersey is a
national leader in higher education,” he said.
“By implementing a team approach to our
Our practice is solving business
service to higher education clients, we are
dedicating the administrative infrastructure problems creatively. In complex deals,
and management resources necessary to disputes or everyday matters, our
more fully support these institutions, with efficient, practical, and forward-thinking
their growing influence and significance and attorneys see legal experience as a means
very specific needs that cross multiple, and to a business end. Imagine that.
often overlapping, disciplines.”
Sostowski said the state has not had a big
involvement in some of higher education’s
LEGAL MINDS
biggest issues, including affirmative action
BUSINESS MATTERS
cases. But, she said, others are found
throughout the state. MORRISTOWN TRENTON NEW YORK CITY RIKER.COM
“The Title IX sexual assault on campus
is an issue nationwide and is one that is
touching every college and university

7
ROI-NJ RETURN ON INFORMATION-NEW JERSEY September 24, 2018 ROI-NJ.COM

Science & Industry

Growth
PLAN
Mink not only wants to make Innophos a billion-dollar brand,
she wants to do it while promoting STEM (especially for females) in N.J.

K
BY MEG FRY
mfry@roi-nj.com

im Ann Mink said she knew she wanted to be a scientist in the

second grade.
“We were asked to create a three-dimensional replica
of ourselves from milk containers to indicate our choice of
career,” she said. “I chose to wear a lab coat, high heels and
pearls, while holding a smoking test tube.
“I was very proud of my uniqueness.”
But Mink said she often stood alone.
“I remember a boy sitting next to me said, ‘Girls can’t be scientists.’
“I learned then that having a goal laced with determination and resilience was just
as important a variable for success as one’s capabilities.”
Kim Ann Mink is Mink never gave up her dream, she said, and after nearly three decades in the
chairman, CEO and engineering and chemicals industries, Mink became the chairman, CEO and president
president of Innophos. of Innophos in Cranbury — a $722 million global company that partners with clients
— INNOPHOS to create essential ingredients and science-backed solutions for the food, health,
nutrition and industrial markets.
Now, she helps other young women get to where she stands today.
“Innovation science is at the heart of our success,” Mink said. “It is
a business imperative that we nurture the next generation of scientists,
engineers and chemical industry leaders.
“We have to be committed.”

8
ROI-NJ.COM September 24, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

health, nutrition and select industrial

Gender roles markets, Mink said. Three things to know
As an executive woman in what historically has been a male-dominated
“It has been a very exciting, rewarding about Kim Ann Mink
and transformative journey over the last
industry, Kim Ann Mink, chairman, CEO and president of Innophos in Cranbury,  She wears many hats, even
two and a half years,” Mink said. “Thanks
said she often found herself to be the only woman at the table. outside of Innophos.
to our relentless organization-wide focus on
“I had dealt with people made uncomfortable by change, especially gender executing our strategic pillars, operational Kim Ann Mink has served as a
equality,” she said. “They really felt threatened, as they perceived the increased and commercial excellence, and strategic board director and environmental,
participation by traditionally underrepresented groups in the workplace.” health and safety committee
growth, and implementing our Vision
member at PolyOne, a global
She would not have that within her own company, Mink said. 2022 Roadmap, which I rolled out to my provider of specialized polymer
shareholders in April 2017, Innophos materials, services and solutions,
Therefore, more than 40 percent of Innophos’ Executive Leadership Council
and its board of directors are female. is fast becoming known as an essentials since 2017.
ingredients solutions provider (in these She also recently was appointed
“Including women and minorities as leaders at companies and members of markets).” board director and audit, finance,
the board is not simply about checking a box,” Mink said. “It is about gaining The company has manufacturing health, safety, environmental
new perspectives, skillsets and talent that transcend gender.” and security committee member
operations across the U.S., Canada, Mexico
Mink said society is still not where it should be regarding gender issues in and China as well as a manufacturing plant at Eastman Chemical, a global
2018. and additional administrative site in East specialty chemical company
that produces a broad range of
“This may cause women to think that they cannot be their true, authentic Hanover.
advanced materials, additives
selves if they want to be taken seriously,” she said. “But what I have learned is “We also fuel our inorganic growth with and functional products, specialty
that it really does start with building a strong sense of self. very active mergers and acquisitions,” Mink chemicals, and fibers.
said. “Our recent acquisitions and our new
“Never give up your authenticity. Believe in your value.”  She continues to make a name
product development processes have really for herself as a woman leader in
And know that it is okay to seek guidance from your friends and colleagues, strengthened our ability to serve this (new) science.
Mink added. high-value role.
Mink was named one of the Top
“The reality is that it is still an uphill climb for many women and we must “For example, we developed a formulated 25 Most Influential Women of the
continue to be one another’s advocates and honest soundboards,” she said. dietary supplement for a customer’s cognitive Mid-Market by CEO Connection
health product that incorporates one of both this year and last.
our higher-margin branded ingredients
 She continues to remain
 global general manager of ion exchange with other products from our specialty committed to STEM education,
With the help of dedicated teachers and resins. ingredients portfolio; we recently launched a both for others and herself.
her supportive parents, Mink said, she grew This opened the doors for her to be named customized B vitamin product for a leading
Mink was named a Top 100
to be her own advocate. global general manager of performance producer of dietary supplement and gummy Diverse Corporate Leader in STEM
“I was the only female chemistry major materials, then CEO and president of products which promotes healthy energized by STEMConnector in 2014.
in my graduating class from Hamilton ANGUS Chemical Co., a fully-owned living claims, convenience and a clean label;
College,” she said. subsidiary of the Dow Chemical Co., and, and we have developed several products that
However, after earning her Ph.D. in finally, a business president of elastomers, respond to consumer demands for organic, the school or the educators.
analytical chemistry from Duke University electrical and telecommunications at Dow plant-based protein sources with clean “We’ve also supported the annual gala
and embarking on a nearly 20-year Chemical. labels.” for the American Institute of Chemical
career with Rohm & Haas, Mink said she “I was one of 12 presidents at Dow Mink said she intends for Innophos to Engineers. Funds raised at that event have
questioned whether she wanted to spend her Chemical, a $60 billion company, and I loved become a $1.25 billion company by 2022. helped to enable programs which diversify,
entire life in the lab. every moment,” Mink said. “We are bringing our customers strengthen and retain undergraduate
“I wanted to be more involved with Until she heard about Innophos. solutions to address their demands and, of engineering students in college.
assessing customer needs,” Mink said. “Innophos had established a solid course, capitalizing on industry trends,” she “You have to start to embrace STEM
“I wanted to extend my skills into the market leadership position, (but) the added. education, innovation and leadership early.”
commercial arena sooner rather than later, markets it historically served at that time —  New Jersey’s commitment to STEM
and I made that very clear. phosphates, in particular — were slowing Innophos employs 1,400 worldwide education, Mink said, is just one of the
“It was just that you didn’t see a lot of down, presenting the company with across 13 sites, with 170 of those employees many advantages of being a growing public
women — or former scientists, for that somewhat uncertain future growth,” Mink — including food scientists, pharmacologists company in Cranbury.
matter — in the commercial field.” said. “I saw that as an exciting leadership and nutritionists — working from its In addition to its proximity to
Rohm & Haas, a chemical manufacturing opportunity in which I could leverage all of Cranbury headquarters. shareholders and the New York stock market,
company, was very supportive of her my work experience.” Mink said the company always needs it also is an easy place for employees to get to,
endeavors, Mink said.  more talent — and, therefore, needs to help she added.
After graduating from the Wharton Mink joined Innophos in 2015 as CEO grow it. “We benefit from an extensive talent
School of Executive Education at the and president. “We have an active corporate giving pool of bright scientists from both the tri-
University of Pennsylvania, Mink said she “I saw an opportunity to implement program at Innophos,” Mink said. “For state area and schools such as New Jersey
was given full profit-and-loss responsibilities structures and processes to strengthen the example, for the second year, we’ve donated Institute of Technology, Princeton and
and became corporate vice president and company’s foundation while focusing on to the Chemical Education Foundation, an Rutgers,” Mink said. “It is an especially great
operational and commercial excellence, organization committed to science education area for recruiting, because as people move
safety, talent management, and to really pivot for New Jersey youth in grades K-8. That between companies for career development,
Conversation Starter
the company’s strategy to expand its focus is in support of their ‘You Be the Chemist’ we also can recruit from the other top
To learn more about Innophos,
contact investor relations at: beyond its historical roots in phosphates and Essential Elements program, which offers companies here as well.
IPHS@investorrelations.com capitalize on emerging opportunities,” Mink primary and middle school educators access “New Jersey is simply a fantastic place to
or 617-542-5300. said. to resources to conduct hands-on, STEM- be.”
Today, Innophos focuses on the food, based learning in the classroom at no cost to twitter: @megfry3

9
ROI-NJ RETURN ON INFORMATION-NEW JERSEY September 24, 2018 ROI-NJ.COM

Food & Beverage

BIKING Asbury Pedalcycle, featuring 15-passenger bikes,

adds twist to traditional pub crawls

AND BOOZE

A group of friends taking the Pedalcycle for a ride in Asbury Park. ­— PHOTOS COURTESY ASBURY PEDALCYCLE

BY MEG FRY establishment and maybe try something that Each tour lasts nearly two hours and

J
mfry@roi-nj.com
esse Pomeroy, an art
teacher in Toms River, said
he wanted to do something
fun with his summers.
He also said he thought
the nearby town of Asbury
Park needed better publicity.
Enter Asbury Pedalcycle — a
15-passenger bike and bar crawl perfect
for team building, family outings, birthday
and engagement parties, charity events, and
more.
“We work with some awesome bars
and restaurants in town that give our riders
exclusives,” Pomeroy, founder and CEO of
Asbury Pedalcycle in Asbury Park, said.
“It is an incentive for people to go into an
they would not have otherwise.”
It was nearly four years ago that Pomeroy
traveled to Ashville, North Carolina, and
took part in a similar venture.
“My best friend had purchased seats on
one of these types of bikes as an engagement
gift,” he said. “We had the best time in the
world — and it was insane to me that this
sort of thing also was not in New Jersey.”
When Pomeroy returned home, he said
he researched what it might take to start and
run such a business here.
There was just one glaring difference:
New Jersey riders would not be able to bring-
their-own-booze on the bike like he had in
North Carolina.
“New Jersey currently will not allow us
to drink alcohol on the bike,” Pomeroy said.
“So, I thought I would add my own twist.”

Beginning in July 2017, in partnership
with Matt Schultz, another art teacher in
Toms River, Asbury Pedalcycle began offering
tours of multiple bars and restaurants upon
the 15-seat bicycle while listening to music,
eating snacks and drinking water.
“Other bike tours simply bring you
around town and let you experience it from
the street,” Pomeroy said. “I really wanted
our riders to experience Asbury Park as it
changes, because, over the past five years, the
city has only gotten bigger and better.
“For our riders to be able to go into
establishments such as Porta, Langosta
Lounge or the Asbury Park Yacht Club,
or to go onto the beach at The Anchor’s
Bend, that is even more awesome to be
able to experience those different types of
atmospheres.”
visits up to three establishments.
“When their half-hour is up, our riders
come back out and get back on the bike,”
Pomeroy said.
The tour costs $30 per person and
operates from outside The Asbury Hotel.
“The Asbury Hotel has been absolutely
amazing to us, taking us under their wing and
housing our business,” Pomeroy said. “We
always recommend that after each ride our
participants head inside to check out our host.”
Conversation Starter
For more information,
or to book a tour, contact
Asbury Pedalcycle at:
asburypedalcycle@gmail.com
or 732-814-5493.

10
ROI-NJ.COM September 24, 2018
Jesse Pomeroy, founder and CEO of Asbury Pedalcycle in Asbury Park. ­
The entire bicycle also can be rented for
$425 — but, much like a coxswain steering
rowers on a crew boat, the environment is
still controlled by the company.
“Each of our tours, whether they are
public or private, are accompanied by a trained
professional who sits in the middle of the bike,
steers and makes sure our riders get to and
from each destination safely,” Pomeroy said.
“You can still receive penalties for drinking and
controlling a bicycle yourself in New Jersey.”
Asbury Pedalcycle also states that unsafe
or inappropriate behavior may result in early
termination of the tour and a $200 penalty,
with examples including everything from
littering to extreme intoxication.
Most riders, Pomeroy said, tend to
simply want to pedal and have a good time.

The company had nearly 700 riders
in its first year, but, this season, thanks to
produced video content and positive word-
of-mouth, Asbury Pedalcycle has had 2,128
riders thus far.
“This summer was really amazing for us,”
Pomeroy said. “By next season, which will
probably start in April, we’re going to have
a second bike in Asbury Park that can offer
more tours, such as beach tours or downtown
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
U.S. Senate Special
U.S. Senator
Bob Hugin (R)
Bob Menendez (D)
tours, and we’ve also started offering food
tours with our good friends, also teachers,
who created the Taste of Asbury.”
Their current season will end this
November.
Emmy Award-winning anchor
“We’re actually looking into ways to
winterize the bike, to see how much further
Steve Adubato, Ph.D.
we can push the season, because Asbury Park
still is great during that time,” Pomeroy said.
In the meantime, Pomeroy added, Steve Adubato goes 1 on 1 with
the company will continue to get new
U.S. Senator Menendez and Bob Hugin
establishments on board.
“That way, for our riders on the tour, we on NJ’s Senate race with national
can ask, ‘What are you in the mood for?’” he implications.
said. “And if they say they really like German
beer, we’d of course bring them to Asbury
Festhalle & Biergarten, who we recently TUNE IN: Saturday October 6 th & Sunday October 7 th
have partnered up with.”
Pomeroy also said he is interested in
branching out of Asbury Park, too.
“We are in the process of getting more
approvals,” he said. “Seaside Heights, for
example, we plan to be there this upcoming
season.
“There are just so many great shore
towns in New Jersey, each with its own
unique places to offer. We want to make sure
we are properly showcasing them.”
twitter: @megfry3
11
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Retail
Canada Goose brings special ‘cold room’
for winterwear to Short Hills mall
The entrance to the “Cold Room,” above, at Canada Goose in the Mall at Short Hills, where customers can test and learn about its highly protective and luxurious outerwear, below. — PHOTOS COURTESY CANADA GOOSE
BY MEG FRY
mfry@roi-nj.com
inter is coming — with
temperatures as low as -13
degrees Fahrenheit — to the
Mall at Short Hills.
Canada Goose, a global manufacturer of
highly protective and luxurious outerwear,
recently opened a 5,330-square-foot Flagship
store in Short Hills, introducing an immersive
“Cold Room” that allows customers to truly
test the functionality of their products.
“Our ‘Cold Room’ offers an in-store
experience for customers to put our products
to the test, and as a resource when choosing
the right style for them,” Penny Brook, chief
marketing officer at Canada Goose, said.
“Nowadays, it is key that companies provide
their consumers with experiences and
incorporate storytelling throughout their
brick-and-mortar locations.”
Canada Goose’s intention, she added, is
not to divert from its online presence, but
complement it.
“This is our third year in the retail world,
having opened our first-ever Flagships in
2016,” Brook said. “We’re applying learnings
from our consumers and are adjusting the
store experience.”
Canada Goose, a more-than-$44 million
company originally founded in a small
warehouse in Toronto in 1957, has sold
parkas, hoodies, jackets, vests, raincoats,
snow pants, knitwear, hats, gloves, scarves
and more both online and in specialty retail
stores such as Summit Ski and Sport in
Summit, High Country Sports in Livingston,
Garmany in Red Bank and department
stores such as Nordstrom, Neiman Marcus
and Bloomingdale’s.
“For more than 60 years, we’ve been
tirelessly focused on making function-
first apparel,” Brook said. “People who
live and work in some of the most
extreme climates on Earth rely on
our functionality and unparalleled
craftsmanship to protect them against
the harshest conditions. From Arctic
exploration to the city streets of
New York City, its this function-first
philosophy that ensures our products
always work.
“With New Jersey, we found our
Conversation Starter
Contact Canada Goose at:
shorthills@canadagoose.com
or 973-232-0820.
12
wholesale channel to be healthy and robust
due to both the local demographic, as well
as the Northeast climate. There is significant
demand for our product there, so it was a
natural step to expand our reach into areas in
the U.S. that are outside of major metro areas.”
Brook said she hopes that the
September 24, 2018 ROI-NJ.COM
“Cold Room” will provide education to both
new and repeat customers, as well as better
equip the 35 employees at the Short Hills
Mall location to make sales.
“One of the most amazing things about the
‘Cold Room’ is that it allows people to engage
the numerous features of our coats that some
consumers may not realize just how necessary
they are,” she said. “If you’re not a ‘Gear Junkie,’
you may not know when to engage a snow
skirt or the underarm zippers, how to
appropriately use our jackets’ draw
cords or even why gloves, hats,
scarves are essential in protecting
you from the elements.
“We’re most excited about
watching our fans utilize — and
learn — about these functional
features that we’ve deliberately
designed into each style.”
Canada Goose’s first-ever
“Cold Room” debuted with the
opening of its Tokyo store last
year. The company plans to
have a total of five open by the
end of this year as it expands
into Montreal, Beijing,
Vancouver and Hong Kong.
twitter: @megfry3
ROI-NJ.COM September 24, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

Who’s No. 1 on U.S. News’ Best Colleges list? Princeton, again

BY ERIC STRAUSS  Rider University, tied for 35th;  Centenary University, ranked in the tier of listed: Berkeley College, unranked among
estrauss@roi-nj.com  Stockton University, tied for 35th; 142nd-187th; Business Schools; and Thomas Edison
 Fairleigh Dickinson University, tied for  The College of St. Elizabeth, ranked in the State University, unranked among Regional
Call it the elite eight. Call it the great eight. But, 62nd; tier of 142nd-187th; Universities North.
whatever you do, don’t downplay who’s No. 1.  Caldwell University, tied for 74th;  Felician University, ranked in the tier of Colleges were ranked based on 16
That’s because, when the prestigious U.S.  Saint Peter’s University, tied for 81st; 142nd-187th; measures of academic quality and divided
News & World Report 2019 Best Colleges  William Paterson University, tied for 93rd;  New Jersey City University, ranked in the into categories for comparison. For the
Rankings came out this month, Princeton  Georgian Court University, tied for 139th; tier of 142nd-187th. complete rankings, go to: roi-nj.com.
University held down the top spot for the  Kean University, tied for 139th; Two colleges were unranked, but twitter: @acerimrat
eighth consecutive year.
Among the Best National Universities —
research institutions with a broad range of
academic offerings — the New Jersey school
led the way, beating out Ivy League rivals
such as Harvard University and Columbia
University.
Rutgers University-New Brunswick
and Stevens Institute of Technology joined
Princeton in the Top 100, finishing tied for
56th and tied for 70th, respectively. Rutgers
jumped 13 spots over the 2018 rankings,
released in September 2017, while Stevens
finished with the same ranking as a year ago.
Other New Jersey schools ranked among
national universities included:
 New Jersey Institute of Technology, tied
for 106th;
 Rutgers-Newark, tied for 115th;
 Seton Hall University, tied for 119th;
 Montclair State University, tied for 169th;
 Rowan University, tied for 171st.
The national Top 10 included:
1. Princeton;
2. Harvard;
T3. Columbia;
T3. Massachusetts Institute
of Technology;
T3. University of Chicago;
T3. Yale University;
7. Stanford University;
T8. Duke University;
T8. University of Pennsylvania;
T10. Johns Hopkins University;
T10. Northwestern University.
U.S. News also ranked National Liberal
Arts Colleges, which were institutions of
fewer than 4,500 students that award at least
half their degrees in the arts and sciences.
The highest-ranking New Jersey school
on that list was Drew University, finishing
in a tie for No. 116. The only other Garden
State school to be ranked on that list was
Bloomfield College, which was listed in a
tier of Nos. 173-229.
Several New Jersey colleges found homes
among the Regional Universities North
rankings:
 The College of New Jersey, 4th;
 Monmouth University, tied for 28th;
 Ramapo College of New Jersey, tied
for 28th;
 Rutgers-Camden, tied for 28th;

13
ROI-NJ.COM September 24, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

Focus
Did you know a top rifle maker in the country is located in N.J.? On …
Henry Repeating Arms is celebrating 10 years in Hudson County.

MANUFACTURING
Here’s what the CEO had to say about his guns, business model and more

ll d
A re
if
up
H
BY TOM BERGERON
tbergeron@roi-nj.com

enry Repeating Arms

Arms, the largest
lever-action firearms manufacturer
in the world, is located in New
Jersey. The company, in fact, is
celebrating its 10th anniversary in
the state this month.
Don’t know the company? That wouldn’t be surprising.
For starters, Henry’s does not have any identification on its
Hudson County headquarters (for security reasons), owner and
President Anthony Imperato said.
And, since it’s a gun manufacturer, it does not sell directly to
consumers.
But you should know this: It is a thriving business.
Henry’s employs more than 225 people — up from about 100 when
it moved to New Jersey from Brooklyn in September 2008. And while it
doesn’t release revenue, Imperato said the company ships approximately
300,000 guns a year.
Imperato speaks matter-of-factly about doing business in New Jersey.
CONTINUED ON PAGE 22

Anthony Imperato, president of Henry Repeating Arms, the largest lever-action

firearms manufacturer in the world. — COURTESY HENRY REPEATING ARMS

15
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Focus On … Manufacturing
TRAINING GROUND
A rendering of County College of Morris’ $10 million engineering and manufacturing building. ­— COUNTY COLLEGE OF MORRIS
BY TOM BERGERON
tbergeron@roi-nj.com
County College of Morris hopes new facility is key
P
atrick Enright is the dean of the
School of Professional Studies and
Applied Sciences at the County
College of Morris. In that role, he
makes sure the school is producing the next
generation of manufacturing employees.
In March, the school announced it had
received funding to build a $10 million
engineering and manufacturing building
on its Randolph campus. It hopes to break
ground this fall.
ROI-NJ recently
caught up with Enright
to discuss the state of
manufacturing as he sees
it — and what CCM is
doing to partner with the
Patrick
sector.
Enright
ROI-NJ: Give us a sense of manufacturing
near your campus, in Morris County.
Patrick Enright: Most of the
manufacturers in Morris County are
smaller shops, 50 people or fewer, and doing
customized work and having a niche market
that they are working in. Business is great,
but they are having a hard time expanding
because they can’t find employees. There
are all sorts of different skills; a company
may have a specific machine that they are
working on, but really what they are looking
for is someone who is trainable — and to be
trainable, it means you have a good, broad
sense of all sorts of skills: measurement,
quality control, what it takes to work on a
machine.
to filling state’s manufacturing education gap
ROI: The McKinsey report, ‘Reseeding
the Garden State’s Economic Growth,’ said
there are more high- and low-skill workers
in New Jersey than employers need, and
more middle-skill jobs than qualified
middle-skill applicants: ‘Relatively few of
New Jersey’s middle-skill workers (with less
than a four-year post-secondary degree) are
qualified for the middle-skill jobs that are
available today.’ Manufacturers know this
all too well. How is CCM trying to change
this?
PE: Right now, I think there’s a bad
feedback loop. People still have in their
head manufacturing as it was 50 years
ago. It’s not like that at all. One of things
we’re trying to do is to make sure there
are employees in the pipeline. We are
marketing a lot more to high schools. We
have a program here where juniors and
seniors in high school can take the general
core of our program. We’re exposing them
to what manufacturing looks like today,
which is high-tech.
If manufacturing is in decline in New
Jersey, and I don’t think it is, it would be just
because we can’t get enough people. Other
states are trying to recruit our companies all
the time. To be competitive, our companies
need a consistent flow of high-quality talent.
Part of our job is to make sure the word is
getting out about what training is available
and the great job opportunities after you are
trained.
16
ROI: Manufacturing jobs are not just for
the next generation. They also are available
for the current generation — people who may
be transitioning out of another area of the
workforce. How are you getting the word out
to them?
PE: This is the next evolution in our
program here. We want to do much more
career-changing short-term training. In
other words, if somebody is in their 40s and
they are career-changing — whether they got
dislocated out of their current job or they are
in a job that is not really paying a household-
supporting wage — we want to get them into
an industry where the wages are higher and
there are benefits.
Now, they can’t go to school full-time.
They have to continue to work. So, we’re
talking about our programs that are four
weeks or eight weeks, where they can get
some initial training and get out to work
at a company. Then, they can come back at
night and complete the program with the
company’s support. We’re not quite there
yet. Part of the issue has been facilities. To
do short-term training, that means I need 30
hours of lab space for four weeks straight. I
don’t have that kind of space.
ROI: You will soon. The new $10 million
manufacturing lab will allow you to do much
more training. How much is this new facility a
game-changer for you?
PE: We’re working at 11,000 square feet
September 24, 2018 ROI-NJ.COM
right now. It’s going to be 30,000 square feet.
We’re going to be able to add a lot of things.
For example, we’re going to add a welding
lab, because that’s an important part of the
manufacturing process in a lot of areas.
We’re going to double our prototyping lab
space, which many people would think
of as a simulated manufacturing floor.
We’ll have a separate lab for 3-D printers.
We’ll have another lab just for electro-
mechanical robotics. Right now, we don’t
have a robotics space. So, it’s getting us into
all of the areas that are much more 21st
century.
ROI: So, let’s look to the future. I know
you’re bullish on the sector; explain how
CCM will be able to play a part in building
manufacturing in Morris County, if not New
Jersey?
PE: What this building is going to do
is really round out what we’re able to do
training-wise. The increased lab space at
the new building will mean I’ll be able to
run two labs at the same time: I can run
credit instruction on one side, workforce
instruction on the other. And we’re hoping
to do more remote training, so existing
employees can get more skills, but they won’t
have to come in.
We want to be more of a focal point
for Morris County, so manufacturers know
where to come. And, for us, we need that
contact to make sure the training we are
providing is what they need now. We have so
much more we can be doing for them.
I still have plenty more ideas. I may need
a second building.
twitter: @tombergeron5
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ROI-NJ RETURN ON INFORMATION-NEW JERSEY September 24, 2018 ROI-NJ.COM

Focus On … Manufacturing

Growing
like a weed
Sudden desire for natural weed-killer has Washington company seeing green
BY BRETT JOHNSON
bjohnson@roi-nj.com

Two decades ago, James Messina made his

first great business decision.
He converted his father’s neighborhood
deer repellent business into a full-fledged
manufacturing firm producing pest control
and plant health products while jumping
into the agrochemical sector with both feet.
The move helped the Washington-based,
family-owned company, called Messinas,
survive and thrive into its next generation of
leadership. It also helped lay the groundwork
for the potential breakout the company has
today.
A few years back, Messina made his
second great business decision.
He invested heavily in creating Pulverize,
an all-natural product in the weed-killing
space.
Today, a few years after the World Health
Organization determined that glyphosate,
the active ingredient in most weed killers,
was labeled a “probable carcinogen” and a
year after Monsanto was fined $289 million
because a man using its Roundup product
got cancer, Messina has the all-natural
product consumers — and big-box home-
and-garden centers — are looking for.
“A few years ago, I saw the writing on
the wall: People would be looking for natural James Messina of Messinas, a family-run manufacturer of various gardening and agricultural solutions in Washington. —
­ ALEXANDRA PAIS
products in the weed-killing space,” Messina
said. “Even then, there were early rumblings Calls for Puliverize are coming in at such Pulverize. He wanted to make it clear that his time after long days of work — making a
about a possible cancer connection (with a fast rate, Messina said, the company may product was tough enough to do the job. name for myself — to tend to a vegetable
glyphosate). soon need to expand to keep up with the The business takes a view on branding garden.
“My philosophy isn’t on whether or not demand. that’s different from many competitors. “And, of course, that’s not universal —
it’s safe. I don’t know; I’m not a scientist.  Part of that is because it doesn’t cater to some millennials do garden, but the vast
There is lots of noise on both sides as it Messina admits his business wasn’t the millennials. Messina has what some might majority don’t.”
regards the safety. But, what is clear is that first to do a natural weed-killer. consider a controversial view on marketing At least on the consumer side — because
retailers want products that aren’t a source of He just feels his is the first company to to this growing consumer demographic. it does have products for agriculture
debate and anger.” bring it to market the right way — call it his His stern belief is that chasing that professionals, too — this manufacturing firm
The company put Pulverize on the next great business decision. market is going after “fool’s gold.” has found a sweet spot in creating products
shelves of retailers about 18 months ago, Other companies, Messina said, have “Very few 20-somethings are living in meant to appeal to people looking to increase
adding to its mix of about 130 different emphasized how gentle the product’s homes and gardening actively,” he said. “I the property values of their homes. That
products, including animal repellents and ingredients are, not how well they work know when I was 22, I certainly didn’t have means they’re after an older crowd.
plant fertilizers. nonetheless at killing weeds. Messina considers it a gift to not have
The company experienced a year of “It’s like having a bullet manufactured by to keep up with younger consumer group
120 percent revenue growth on the back of a soft blanket company,” Messina said. “Our Conversation Starter trends as much as other companies. So, you
Reach James Messina
launching a product that outpaced even the mission was to come out with this as a strong won’t see his business making an appearance
of Messinas at:
largest industry players. brand, one that already instills confidence james@messinas.com on Instagram anytime soon.
He expects the coming year to be even that our products can perform.” or 908-320-7009. “I don’t know how exciting you can be
better. It’s part of the reason his product is called anyways, as a weed-killing company,” he said.

18
ROI-NJ.COM September 24, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

Focus On … Manufacturing
“I don’t see us competing with a beautiful effect on pricing that tariffs might have on the source all from here. But that, despite how long we’ve been
sunset in Barcelona with, ‘Look — another company’s products. There’s a component we know we’re not going here, you have people who have
dead weed!’ In our industry, things are much used in its packaging process that it sources to be immune to the never heard of us now discovering
more what I’ll call utilitarian.” from overseas — and it’s in the tariff cross- rising cost of goods.” our products,” he said. “And it’s
 hairs. On the horizon, fun to be a 20-year, overnight
There is one part of the millennial “Most of the manufacturers of this however, Messina success story.”
mindset that Messina said the company is component moved out of the country years expects mostly twitter: @reporterbrett
hoping to capitalize on: The generation’s ago; no one makes it in the U.S.,” Messina clear skies for the
willingness to reject big brands works in his said. “And we do try to do all sourcing not continued growth of
favor. only in the U.S., but locally. We have a box his family’s once-minor Pulverize is the company’s top-
And Messinas will take every advantage company we work with in New Jersey, a label manufacturing operation. selling, all-natural weed killer.
it can get, as the company, which brings in company here and raw materials that we “The best part for me is — COURTESY PHOTO

between $5 million and $10 million annually

in revenue, expands here and abroad.
The 24-employee firm, one of the
only New Jersey manufacturers left in the
agrochemical industry, is working on getting
its latest products into the largest retailers in
the garden supply space next year.
Messina expects the business to be
somewhat insulated from the new online
shopping paradigm that has changed so
much for retailers and the manufacturers
that supply products. ADVICE-LED APPROACH THAT INCLUDES:
“We have some protection from the
e-commerce model,” Messina said. “The
benefit for us being that, when you want to Value Added Financing Mergers and Acquisitions Advisory
plant something on a nice Sunday morning,
Customized Structured Financing Multi-Family Lending
you don’t want to order a product for later,
you’ll go out at buy it at a local store that Developing Legacy Objectives Investment Property Lending
day.”
But not every one of today’s trends is on Succession Planning SBA Loans
its side; the company shares some of the same
Evaluation of Debt Capacity Treasury and Cash Management Solutions
apprehensions as its fellow manufacturers.
Namely, Messina is concerned about the

Food for thought

A plant is a plant; James Messina $17,000,000 $25,000,000 $5,000,000
doesn’t differentiate.
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sees equal potential as any other Edison, NJ Wall Township, NJ Woodridge, NY
crop for his company’s plant food
to be of use.
There has been a recent pouring
Financing and Treasury $7,000,000
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and garden companies, such Financing
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specifically targeted the growing Infrastructure Repair
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Messina expects it will become
more standardized in the industry
$600,000 Treasury Management $5,000,000
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growing these valuable crops
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need certain micronutrients,” he
said. “It’s transforming from a All Banking Should Be Private Banking.
craft into a typical agricultural
system.”

19
 ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Focus On … Manufacturing
Bumpercrop Jersey Jack Pinball is thriving
on old-school gamers’ love
for its artisanal pinball machines
Jack Guarnieri, founder and CEO of Jersey Jack Pinball in Lakewood. — PHOTOS BY ALEXANDRA PAIS
BY MEG FRY
mfry@roi-nj.com
In an age when “Fortnite” and “Minecraft” rule
— and one in which gaming companies are
looking for the next “Pokemon” or “FarmVille”
— Jack Guarnieri is going old school:
Pinball machines.
Guarnieri, founder and CEO of Jersey
Jack Pinball, has manufactured artisanal
pinball machines in his facility in Lakewood
for nearly eight years.
He hopes he can help make pinball
mainstream — and notes that the state’s
current champion is under 18 years old.
“Young people are discovering pinball
every day,” he said. “The pinball shows are
growing, and the player base is expanding.
“We are gaining those players because,
every time you play pinball, there is a random
aspect to it as a game of skill.”
And while that gives Guarnieri hope for
the future, he doesn’t need to worry about
the present.
Jersey Jack Pinball is now a nearly $20
million company, not only surviving but
thriving on an older audience that buys his
units — with most selling in the $10,000
range — for their personal use.
“We are not the biggest manufacturer
and may never be the biggest, but we are
20
an industry leader in many ways, including
innovation and quality of game build and
play,” he said. “Our customers tell us that
they are willing to wait and pay a bit more for
our games because they know what they are
getting when they buy from us.
“We are held to a different standard and
therefore try to underpromise and overdeliver
every time.”

Guarnieri said he is in the business of
keeping customers happy, calling himself a
veteran of the amusement industry.
“I began repairing electro-mechanical
pinball machines in 1975, games that didn’t
even have an electronic score, but mechanical
score wheels,” he said.
Shortly after, Guarnieri said, he moved
into operations and development, including
Fuzzy’s Family Fun Factory in Howell, before
creating PinballSales.com in 1999 to sell
what were typically commercial amusement
games to the home consumer market.
Conversation Starter
Reach Jack Guarnieri,
founder and CEO of
Jersey Jack Pinball, at:
jack@jerseyjackpinball.com
or call 732-364-9900.
September 24, 2018 ROI-NJ.COM
Reinvestment
opportunity
Though Jack Guarnieri founded
the company in 2011, two different
families actually hold majority
ownership of Jersey Jack Pinball
in Lakewood today, after Leonard
Abess Jr., a former banker in
Miami, invested millions in 2015.
“A customer from Miami who
has become a really good friend
helped me to recapitalize the
company,” Guarnieri, the CEO, said.
“That company helped to launch Jersey
Jack Pinball, because it was then I realized
that people in the home market actually
would want to buy these games,” he said. “I
also began to notice how, since there really
was only one major company building these
pinball machines, technology began to lag
due to a lack of innovation.”
Guarnieri decided to give it a go himself
by founding Jersey Jack Pinball in a nearly
45,000-square-foot facility in Lakewood in
2011.
“It was a big risk to start a pinball company
at the end of the recession, with the first and
only thing I had being my reputation in the
ROI-NJ.COM September 24, 2018
Jersey-bound
“Jersey” Jack has not always lived
in New Jersey.
“My brother-in-law had been
training racehorses,” Guarnieri
said. “After they closed Roosevelt
Raceway in Long Island, he moved
to Jackson to primarily race at the
Meadowlands and in Freehold.
“We at first thought he was crazy,
but when we came to visit from
Brooklyn, we said, actually, we
might like to get a nice house and
property, too.”
It hasn’t been easy starting and
running a business here, though,
he added.
“Everything seems to cost more
money in New Jersey,” Guarnieri
said. “The employee base is
good, but the cost of living, taxes,
transportation and overhead are
all against you as compared to
other states.”
Still, Guarnieri added, after living
here 29 years, he would not dream
of going anywhere else.
“What exit?” he said.
industry,” he said. “But I was able to tinker
with more than a decade’s worth of technology
in which to innovate our first game.”
Jersey Jack Pinball released “The Wizard
of Oz” in 2013.
“‘The Wizard of Oz’ blew apart everything
anyone knew about pinball machines then,”
Guarnieri said. “The game is just beautiful.”
Not only did the game feature detailed
artwork by artist Jerry Vanderstelt, but also
it featured several industry firsts, including
an LCD HD-quality monitor, rich audio and
color-changing RGB LED lights.
“‘The Wizard of Oz’ was placed in the
Smithsonian for a couple of years on free
play and it’s been in art museums in France,”
Guarnieri said.
The theme also attracted more girls
and women to pinball, he added, as well as
talented team members, including industry
legends Pat Lawlor, a game designer, and
John Youssi, an artist.
Guarnieri feels the business model is
basic, saying it only takes imagination to
create playable works of art.
“That, plus mechanical and electrical
engineering and a couple million bucks or so
to design and build,” he said.

The company now employs between
50 and 100 workers, including Guarnieri’s
daughter, Jen.
“She is my left arm,” he said. “She’s very
much involved in everything, from customer
service to sales to production.”
“The Hobbit” pinball machine by Jersey Jack Pinball, one of its models.
Jersey Jack Pinball sells thousands of
units each year, with distributors in 19 states
and nearly 15 countries.
“Our games are sold mostly into the
consumer market, for people who have
amazing games in their homes,” Guarnieri
said. “There is a growing player base and more
and more pinball events and tournaments
every month, as well as increased attention
and awareness.”
Jersey Jack Pinball games typically take a
21
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Focus On … Manufacturing
theme and weave its storyline throughout, he
added, often working with film-fan favorites.
“The Hobbit,” for example, was released
in 2016. “Pirates of the Caribbean,” this year.
But it is “Dialed In,” Guarnieri said, that
has really helped to raise awareness of just
what Jersey Jack Pinball can do.
“I always had envisioned a pinball machine
that could take your picture,” Guarnieri said.
Therefore, Guarnieri commissioned
Lawlor, the man behind classic pinball
Remote play
The pinball capital of America,
Jack Guarnieri said, is Chicago.
“Many of the people I wanted to
hire, therefore, lived in that area,
and while some of them would
relocate, some wanted to explore
the idea of working remotely,”
Guarnieri, founder and CEO of
Jersey Jack Pinball in Lakewood,
said.
Guarnieri said he wasn’t bothered.
“With today’s technology,
including FaceTime and Skype,
I felt it would not be a big deal
if they stayed and worked there
while we had our factory in New
Jersey,” he said.
The company has a design
and development lab in
Bensenville, Illinois, where artists,
programmers and engineers work
together with those in New Jersey
to design and develop games.
“Once in a while, I have wondered
if it would have been better, worse
or different, but we get everything
done that we need to most
effectively,” Guarnieri said.
machines such as “The Addams Family” and
“The Twilight Zone,” to create the first pinball
machine to feature Bluetooth connectivity,
a mobile application with which to control
gameplay, and a camera to allow players to
take selfies and immerse themselves even
more into the game.
“It was something so simple that now
lends itself to today’s technology and brings
the game more relevance and notice,”
Guarnieri said.
“Dialed In,” released last year, combines
disaster movie themes with 21st-century
technology.
Its collector’s editions, limited to 150
units, sold out in a matter of days.
“Machines typically cost between $8,000
and $12,500 each, depending on various
cosmetic features and editions,” Guarnieri
said.
Jersey Jack Pinball’s next three games are
currently in development as the company
enjoys double-digit annual growth.
“The challenge now is to get more of our
games into commercial markets, actually,
such as arcades and family entertainment
centers,” Guarnieri said.
Players can find all of Jersey Jack Pinball’s
games, however, at the Silverball Museum in
Asbury Park, he added.
And, as far as manufacturing in New
Jersey, Guarnieri said he is happy to stay put.
“It’s in the name,” he said. “I can’t imagine
building games anywhere else but here.”
twitter: @megfry3
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Focus On … Manufacturing
CONTINUED FROM PAGE 15
“I can’t complain,” he said. “It’s not the
best and it’s not the worst.”
But he emphatically says he has no plans
to relocate. And certainly not out of the
country.
Imperato proudly states the company’s
slogan: “Made in America or Not Made at
All.”
ROI-NJ talked with Imperato about how
his family got in the business, how he plans to
grow Henry’s and numerous issues involving
the manufacturing and selling of firearms.
The following is an excerpt, edited for
space and clarity.
ROI-NJ: Most people don’t think of New
Jersey when they think of a firearms company.
Give us a little bit about your history in the
industry — and how it came to be in this area.
Anthony Imperato: My family’s been
in the gun business since 1911. We owned a
gun shop in downtown Manhattan that, for
decades, was primarily a police equipment
shop. My father developed a wholesale
firearms business in the 1950s and later
bought Iver Johnson Arms in the late 1960s
(both of which he later sold).
I grew up working in my grandfather’s
police equipment shop. And then I began
learning about manufacturing at Iver
Johnson’s before I began working the
wholesale business side. I’ve had my hand
in many different areas of the business. We
got back into manufacturing in the early ’90s,
with a licensing agreement we had with Colt
to make their historical firearms from the
Civil War era. Then we bought the rights to
the Henry’s name.
We started the company in 1996 in
Brooklyn and started shipping the first guns
in March of 1997. I bought the building in
New Jersey in March of 2007, but didn’t
move in until September of 2008 because it
took over a year to renovate.
ROI: Why New Jersey? Why not
somewhere in the South, where you do more
business?
AI: We moved here specifically because
we wanted to still be within the tri-state area,
where we had a number of vendors. And
we wanted a place where our employees
could still come from New York City. We
also wanted to mimic what we had in
Brooklyn, being in an industrial/residential
neighborhood where people could walk to
work. It has worked out well.
We have another factory in Wisconsin,
with over 300 employees. It was a company
that used to make parts for us. In 2006, they
were going out of business, so I decided to
buy the company and the plant.
ROI: How does being in New Jersey
22
September 24, 2018 ROI-NJ.COM
impact business?
AI: It doesn’t at all. The way the
gun industry works primarily is that
manufacturers sell to wholesalers, what we
call distributors. Those distributors sell to
the retail stores and then those dealers sell
to the consumer. There’s an online portion
of the gun business, but online retailers still
have to deal with shipping of the firearm to
a local dealer.
We have about 12 different distributors
based around the country, and they in turn
supply retail outlets. All of the major big-
box retailers carry our guns: Cabela’s, Bass
Pro, Gander Mountain, Scheels, Dunham’s
Sports and Academy Sports. Every one of
them carries our brand, and so does every
independent and privately-owned gun shop
around the country, including many in New
Jersey: Caso’s Gun-A-Rama in Jersey City,
Garden State Shooting Center in Lakewood,
The Silver Bullet in Rockaway, The Gun
Rack in Vineland and Cheyenne Mountain
Outfitters in Bordentown.
ROI: How is business?
AI: We recently sold our 1 millionth
rifle, so business is good. We’re sold in 40
countries around the world, with Canada
and Australia having the most sales. But,
we are strongest in America. And we are
strongest in the South. We have the most
sales in Texas, mainly because of its size. On
a per-capita basis, Kentucky is our biggest
selling state.
As far as competition, there is Marlin
Firearms, which is owned by Remington.
Additionally, there’s Winchester and a
Brazilian company named Rossi.
We are the leading lever-action
manufacturer. Remington is bigger than us,
overall, but as far as the lever-action business,
we are the dominant player in the market.
We are basically 95 percent of the rim-fire
lever-action market, and 75 percent of the
center-fire lever-action market.
ROI: Let’s talk advertising and branding.
Henry’s has begun promoting its brand
through sponsorships at athletic-type events,
both MMA (through Donald “Cowboy”
Cerrone) and auto racing. Explain how that
came about?
AI: The sponsorship with Cowboy
Cerrone is part of our marketing effort to
acquaint a younger generation with classic
American-made heritage firearms. He’s a
gun guy. He’s got a lot of energy and he’s got
Conversation Starter
To learn more about Henry
Repeating Arms, contact Daniel
Clayton-Luce at:
dan@henryusa.com.
ROI-NJ.COM September 24, 2018
Shooters used Henry firearms in the “1,000 Man Shoot,” an event in Arizona in support of the Second Amendment. Imperato, below, in front of his high-tech machinery. ­— PHOTOS COURTESY HENRY REPEATING ARMS
great personality. So, we felt he was a good fit
for us. We’ll be looking for other avenues like
that to talk to the younger generation.
As far auto racing, my son races in an
IMSA GT Cup Series, so we’ve acquainted
ourselves with racing over these last three
or four years. Now, we are dipping our toe
into NASCAR. We think it could be the
right audience for us, since our strengths are
in the Southeast, where there’s a NASCAR
stronghold. We’ve been able to mix guns and
gears well over the last three or four years,
but it’s a sidebar thing for us.
As far as who we are as a company, our
Guns for Great Causes program is more in
line of who we are. We work with veterans’
organizations, with sick children’s hospitals,
wildlife conservation organizations, etc. All
of those things are pretty strongly aligned
with the brand.
ROI: Speaking of branding, talk about
your slogan: Made in America or Not Made
at All.
AI: That’s the biggest part of our DNA.
We started this pro-American concept back
in 1996. Our original tagline was, ‘Made
in America and Priced Right.’ We wanted
to differentiate ourselves from a lot of the
imported product that was coming in that
sector of the marketplace at the time. Made in
America in these last few years has become an
emotional trigger, but we’ve been riding that
since we started the company 20 years ago.
And right alongside that is our
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Focus On … Manufacturing
commitment to customer service. I believe
we have the best customer service in the
outdoor industry. We are well known for
that. Our reputation is etched in stone for
that.
I always take it very personally that
someone is going to spend their hard-earned
money on a Henry. If they are going to spend
a few hundred dollars on something we’ve
made, we better get it right for that person.
I’ve always respected that process.
ROI: Let’s get to ‘gun’ questions. The types
of firearms you sell are not the type of firearms
that have been involved in the recent mass
shootings or in urban areas.
AI: We have hunting rifles. We have
rifles for cowboy-action shooting, we have
rifles for plinking and target shooting. We
have all the caliber rifles for varmint hunting ROI: Fairly or not, Henry’s will be put in get to this topic, there are different specific
and pest control. We have a whole collector’s the same pool as every other gun manufacturer layers of it.
series and tribute editions, such as when a by those who want to outlaw guns. Are you There’s urban crime and that topic.
young man earns his Eagle Scout. We make concerned about any backlash you could There’s suicides and mental health. There
single-shot shotguns and we make lever- receive? are these isolated random shootings, which
action shotguns. AI: I’m not. We just speak the truth. typically are also a mental health issue. There
I’m not afraid of any backlash. If someone are tragedies.
ROI: Is it true that any calls to limit, is anti-gun, they are anti-gun. I can talk to Our industry is full of good people. We
control or abolish the sale of guns actually you about this for hours, because I’ve spent don’t want to see tragedies. We don’t want to
helps your business? 40 years in the gun business. I grew up in see urban crime. Urban crime is a huge topic
AI: Yes. Any threat to the gun industry Brooklyn, in an urban area, but I also have in its own right: It’s historical, cultural, social,
with potential new legislation most often traveled extensively throughout America. economic, psychological — it’s a deep, complex
leads to increased sales across the board. I understand rural America and the problem. If you cure that problem, then people
When there’s threats to the industry, Joe Heartland as much as I do city life. I can talk pointing the finger at the gun (as the problem)
Consumer gets upset and says, ‘I’m going to to you about the gun situation until we’re goes away. In short, that’s the answer.
go buy another gun.’ That’s how it works. blue in the face. And you know, when you twitter: @tombergeron5
23
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ROI-NJ RETURN ON INFORMATION-NEW JERSEY
ROI-NJ Special Report
How CEO’s workforce complaints
spured controversy, conversation
BY ANJALEE KHEMLANI
akhemlani@roi-nj.com
When Holtec CEO Krishna “Kris” Singh
told ROI-NJ earlier this month that he
had issues with hiring and retaining local
workers at his new 600,000-square-foot
manufacturing facility in Camden, he
inadvertently touched off a firestorm.
Holtec, Singh said in an interview, cannot
recruit and retain the workforce it needs —
despite huge efforts to hire local employees.
“If we hire 10, we keep two,” he said. “The
other eight weed themselves out.”
Singh said he has found some workers
lack skills and, more troubling, some lack
work ethic.
Local officials reacted immediately
to his remarks, some angrily demanding
apologies and saying Singh was reinforcing
a longstanding stigma faced by Camden’s
residents: That they are not prepared to enter
the modern workforce.
For instance, Frank Moran, who was
elected Camden’s mayor in November 2017,
issued a blistering statement in response to
Singh’s comments.
“I will hold all companies in Camden
accountable and expect them to be community-
conscious and responsible partners,” he said. “I
am committed to making sure that prosperity
reaches all neighborhoods and people of
Camden. Be assured, I will always stand by the
good residents of the city of Camden.”
Others, however, said Singh’s comments
were not completely off the mark — and
that he was drawing attention to some of the
workforce problems in the city.
It is one thing, they said, to bring jobs to
an area. It is another to make sure the area
can support those jobs.
Both Darnell Hardwick, president of
the Camden County  NAACP, and Troy
Oglesby, a retired Cherry Hill police officer
and current activist in Camden, said the
company and the state should have done
the market research to know what the labor
force looked like, and tailored jobs to meet
the skill level available.
But, for all the rage and fury from some
sectors, there was equal — public — silence
from the area’s business community. Singh
isn’t wrong, many told ROI-NJ behind closed
doors and in private phone calls.
There is a problem trying to find
committed workers in a segment of the
population, others agreed.
September 24, 2018 ROI-NJ.COM
and community leaders said.
And the CEO’s comments, they said,
could actually help by bringing the issue to
the forefront of discussion.
The problem stems, in part, from a lack
of analysis. There is no understanding of the
type of talent that is available in the city.
Nichelle Pace, president of  Brand
Enchanting, a Camden-based public
relations firm, said there hasn’t been a study
done on the city in a while.
“With the big businesses coming into
Camden, did we even survey the workforce
in Camden currently or five or 10 years
ago?” she said. “No, we just brought in the
businesses by numbers of jobs, not by fit or
cultural fit within the community.”
Krishna “Kris” Singh, CEO of Holtec in Camden, spured controversy with his comments about workforce Ray Jones, president of the  Camden
problems in the city. —
­ HOLTEC Business Association, said the blame for the
problems can be shared by all parties.
The question remains: Does something “Employment is my hardest thing,” Lucas As big businesses are creeping into the
need to be done, and what? said. “It’s hard to get people to come out to city, smaller businesses are missing out
 Camden still on a day-to-day basis.” on the opportunity to collaborate, create
Singh, it should be noted, was not alone And U.S. Rep. Donald Norcross (D-N.J.) partnerships and gain access to become part
in his comments about workforce problems. said it’s a problem he has focused on for of the supplier or vendor pool that these
Joe Balzano, president of European more than a decade as the business agent for companies use, Jones said. Especially as
Metal Recycling, a car and car parts recycler the International Brotherhood of Electrical industries follow a trend of supplier diversity.
that recently opened a plant in Camden, said Workers Local 351. “We feel like if we can get everyone
he has found similar issues with turnover. “Nobody’s batting 1.000 here,” he said. to participate … that will help the city as a
“I think the expectations from an employee “But,” he insisted, “we’re batting a much whole,” he said. “Because you’ll hire local
to an employer is difficult,” he said. “There’s an high percentage (than before).” businesses, and local businesses hire local.
expectation that, ‘Well, I came to work today,’  There is talent here; there are a lot of talented
versus the expectation to do something.” These problems, real or perceived, should people here. They have a lot to bring to the
Rob Lucas Jr., owner of Donkey’s Place not erase the committed, hardworking table, but we have to get to the table.”
cheesesteak joint and bar, also said his segment that is on the ground trying to help Some big businesses have shown efforts
attrition rate is high. the city move forward and succeed, business to reach out to the community, but many
have failed to market correctly, Jones said.
“They have an outreach, but that might
Reports foreshadowed problems not have gotten to the masses,” he said. “The
The limited number of high-skilled workers in Camden should not have been a partnerships and collaborations are what we
surprise to incoming CEOs, based on some reports on the region. are talking about.
In the second quarter of 2016, the Federal Reserve Bank of “We are the grassroots, we’ve been here.
Philadelphia released its Community Outlook Survey, which monitored trends We know the city, we know the people, we
affecting low- and moderate-income households and communities in the could have put it out there and could have
Third Federal Reserve District, which encompasses Delaware, southern New had better participation.”
Jersey and the eastern two-thirds of Pennsylvania. And it’s a laborer’s market, Pace said,
The report, based on responses from about six companies in southern New noting there are more jobs available than
Jersey, highlights the low-skilled workforce in Camden, and warns of a need to people who are unemployed. So, the onus is
create jobs that match the workforce. also in part on the companies to figure out
“In the city of Camden, there is a large population of unemployed, low-skilled how to train and grow their talent pool.
individuals. The economic development planning and allocation of incentives 
are targeting firms with jobs that require advanced degrees. This lack of Hardwick said that, in light of Singh’s
alignment with available workforce will leave few parcels of land available for remarks, the local NAACP is interested in
the development of firms with entry-level, low-skilled labor jobs,” the report said. knowing more about the issues he faces, to
In another report, dated September 2015, the Camden-Philadelphia metro area see if the organization can offer any help.
was identified as having 20 to 30 percent of low-wage or non-degree jobs. “We are going to write him a letter,” he
said. “It gives us the chance to dig deep and
26
ROI-NJ.COM September 24, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

see what the problem is. We want all these “Camden, right now, seems to be today and for the next decade.” “Our goal should be to make sure that
companies to have some type of incentive doing the right things,” he said. “Camden is At the end of the day, some said, the silver the entire employment spectrum has a
for Camden residents first. But there is no definitely going to come back.” lining of the fallout from Singh’s comments is pipeline,” he said. “So, our goal isn’t just to say
incentive for him to hire Camden residents.” His comments were echoed in a the opportunity to address the issue. hey we will make sure the EMRs and (other
It’s a given that the city needs to beef up its statement by South Jersey power broker “I think it’s really an opportunity to employers) are taken care of.
workforce development program, Pace said. George Norcross. talk about it,” Jones said. “Our window of “We want to make sure the Holtec
“It’s more about the larger issue of how “In prior decades, a major problem was opportunity might not be right now, but, engineers and the American Water
do we reach these people … and get them how few jobs were available for Camden because this happened, we get the chance to engineers and the doctors at Cooper
excited about the opportunities that are residents,” Norcross said in the statement. talk about it. I think it’s going to work itself out.” (University Hospital) are trained here,
here,” she said. “And that still goes back to the “Now, there are opportunities. We all have an It’s a hope Kris Kolluri, CEO and president as well. That’s when you know you have a
companies internally. It doesn’t matter how obligation to focus on helping prepare every of the local Cooper’s Ferry Partnership, sustainable city.”
ready you make the job force, it matters once Camden resident for opportunities that exist shares. twitter: @anjkhem
you get to the job, how can they retain you.”
Perhaps overlooked in Singh’s comments
was his pledge to continue to hire workers
from Camden as the company expands.
“As we train the workers and create a
nucleus of qualified people, we will (be) ready
to take on a lot of work. It will all depend
on if we are successful in the marketplace,”
Singh said. “We are going to put up a small
plant here, (a second) plant here, to build
industrial grade batteries.”

Momentum is also something Singh
touched on in his initial comments: For
every person who stays and rises through
the ranks, his hope is that they inspire others
within the community to do the same.
Singh said the city controls its own
destiny.

Issues with incentives

John Harmon, CEO and president
of the African American Chamber
of Commerce of New Jersey, said
that, while Holtec CEO Krishna
Singh may not have been wrong
in his assessment of part of his
workforce, the issue is that there
is a deeper problem in Camden
and the state.
“We have to think about why we
are doing incentives,” he said.
“We are doing it because no one
will come and build in the city of
Camden.”
Harmon said the state and
its taxpayers aren’t getting
their money’s worth in giving
companies tax breaks, like the
$260 million incentive Holtec
received from the state Economic
Development Authority.
“As a taxpayer and as a resident
of the state, I’m not getting the
return on investment,” he said.
Harmon said part of that blame
falls on the previous municipal
administration, which didn’t create
a strong relationship with Holtec.
“While the building was under
construction, they could have had
a workforce readiness training or
program,” Harmon said.

27
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
ROI-NJ Special Report
CONTINUED FROM PAGE 1
exchange of communication and ensure that
residents are able to be matched to potential
employers.
It’s not too different from efforts being
made for apprenticeship programs around
the state in the medical and manufacturing
sectors, he said.
“There’s 15 different craft unions, but
there’s almost 35 different trades,” he said.
That’s a lot of untapped potential — and
getting all parties to the table will help bring
greater attention to the opportunities that
exist, Norcross said.
That could be one of the reasons why the
event was well-attended.
The event, which came together in less
than a week, brought together companies
CONTINUED FROM PAGE 1
COLLEGE STUDENTS
One of the most telling signs of Camden’s
revival is the city’s student population, where
housing demands are
flooding the market.
“We have a waiting
list of more than 100
to live in the dorms,”
Mike Sepanic, associate
chancellor for external
Kris
Kolluri relations at Rutgers
University-Camden, said.
“We are turning people away from across
New Jersey and from across the country.
We’re going to need another dorm.”
The Rutgers-Camden campus has been
seeing consistent growth every year, peaking
at 7,500 enrolled this year. That is likely to
reach 8,000 by the end of the year, according
to Sepanic. Most students are still coming
from the five South Jersey counties, but
because of the tuition-aid program Rutgers
recently launched — called “Bridging the
Gap” — there has been increasing enrollment
from northern and central New Jersey.
There is also a significant population
from Texas and California as well as South
Korea and Taiwan.
For students who aren’t living in dorms,
private housing has become an option, and
traditional boundaries that used to serve as
barriers — including the bridge into North
Camden — are being erased.
“The bridge, like all barriers, is a
psychological barrier,” Sepanic said. “We can
go to and from North Camden as easily as we
like. But for many years, people viewed that
as not part of our neighborhood. That was a
fence. And that’s not true anymore.
“Our students are going into north
Camden … they are becoming part of the
neighborhood.”
that typically compete, programs that
typically don’t work together and leaders
who don’t often get to meet.
“Bringing together such a diverse crowd
of not only those who need employees, but
the trainers — and, now, the trainers are
talking to the different companies — (is
important),” Norcross said. “It’s trying to
keep everybody together.”
Susan Bass Levin, CEO and president
of the Cooper Foundation, said the
purpose of the event was to open the lines of
communication in the city.
“Now that there are so many new
businesses coming into town, we have an
opportunity that we didn’t have before,” she
said. “I think it’s important that we maximize
those opportunities. It’s important that we
change rapidly with the times so that we do
Donkey’s Place cheesesteak joint and bar in Camden has been keeping track of where visitors to the
restaurant are coming in from. —
­ FACEBOOK
FOOD SCENE
Rob Lucas Jr., owner of Donkey’s Place
cheesesteak joint and bar, said he can easily
chart the city’s growth.
In fact, he is.
“We’re getting people from out of town
that more and more are coming to Camden,
in the middle of the day, and it happens all
the time now,” he said.
It’s not just anecdotal from New York,
Baltimore and Philadelphia. Lucas has two
maps in the building: one of the United
States, the other of the world.
He’s been keeping track of where visitors
to the restaurant, which has been featured
on the Food Network and visited by the late
Anthony Bourdain, are coming in from.
There are more than a dozen states colored
in, and at least 35 countries, Lucas said.
CLEANING UP
Lucas said there are other signs that there
is significant movement in the city.
28
train people for the right jobs.”
Levin said she didn’t think there had been
a missing link to opportunities in the city.
“I don’t think it’s been missing,” she said.
“I think it’s that you could always do more.
“To do better is our goal.”
Levin also said that, in the 10 years she
has worked in Camden, the conversation
about jobs and the workforce have been
ongoing.
“With the new businesses coming into
this town, it’s elevated the conversation
because, now, finally, there are jobs and
opportunities, in a way that you never had
before,” she said. “(At Cooper) we have job
training programs; the key is to train for
jobs where we know there are going to be
opportunities.”
One small business recently told ROI-
“They’ve been tearing down a lot of the
abandoned buildings,” Lucas said. “It’s been
nice. There’s not as much graffiti. I haven’t been
hit here. Once in three years I got hit on the side
of the building — and it’s painted the next day.
“They still got a way to go. Bring down
some more of the abandoned buildings,
some more businesses in here, just clean it
up. It has to be cleaned up. “
The county has already taken down
thousands of abandoned buildings, according
to county officials. At least 600 have been
residential.
WORKING WITH GOVERNMENT
During former Gov. Chris Christie’s
tenure, the state earmarked significant
funding for Camden and was instrumental
in helping the city access state resources to
transform the city.
Kolluri is not worried about the new
administration under Gov. Phil Murphy
changing that.
September 24, 2018 ROI-NJ.COM
NJ that part of the problem is a lack of
information, or a lack of a profile of the
current workforce in Camden.
Basara said the city could coordinate
with a number of organizations and research
facilities within the city limits to produce
something such as that.
“This Camden Works program will
actually help with collecting some of that
important data to see where we are,” he said.
“We know things like unemployment are
dropping, we know more people are being
hired … we don’t really know the statistical
data beyond that.
“Camden Works is going to be a
partnership. We have a lot of resources out
there. It’s just a matter of making sure each
of them talk.”
twitter: @anjkhem
“If you look at the incentive programs
that were in place until 2012, Camden got
something like 0.01 percent of tax credits,”
he said. “So, for the longest time, no one
even heard about Camden. For the last
five years, people began to hear about
Camden.
“We take at face value that this governor
is serious about the entire state of New
Jersey. So, yes, Gov. Christie was fantastic,
and we think Gov. Murphy recognizes what’s
happening in the city of Camden.”
NEXT STEPS
To date, there has been a heavy focus on
larger companies moving in with sprawling
campuses. But the next iteration of Camden’s
growth may change.
“I think it’s probably natural the next
iteration of growth is going to come from
companies looking for 50,000 square feet
rather than 200,000 square feet,” Kolluri said.
“And that’s OK.”
Future steps also include paying more
attention to the natural trails and waterways
that exist in Camden.
“It’s not just buildings, it’s the public
realm,” Kolluri said.
There have been community bike rides
and kayaking trips, and more such events are
being planned.
Opportunity Zones are the next
opportunity Cooper’s Ferry plans to take
advantage of, since more than a half-dozen
census tracts were designated zones in
Camden.
“If the economy itself softens, obviously
that’s a challenge for the whole country, not
just Camden,” Kolluri said. “But insulating
against that softness is something we
are working towards to make sure these
buildings that are here and the people that
work here are here for the next 15 years.”
twitter: @anjkhem
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ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Op-Ed
Act upon first hints
of business downturn
T
he greatest concern of business
owners is how to avoid losing
their primary source of wealth:
the value of their business.
Owners generally monetize
this value via a sale of their
business, but EBITDA — earnings before
interest, taxes, depreciation and amortization
— sometimes collapses during the sale
process and the owners lose much of their
wealth. Although mergers and acquisitions
professionals can be surprised when EBITDA
collapses, there is a root cause and a way for
business owners to avoid misfortune.
First, owners
must recognize that
almost every business
has a lifespan. The
end of a business often
seems sudden, but it is
usually the culmination
Sheon of a gradual process.
Karol
Responding only to the
classic signs of distress — on which consultants
mistakenly focus — results in loss of value.
Owners need to discern the early hints of
business mortality (before distress is manifested)
and act while their business still looks promising
to an outsider. This is the key: Owners have an
advantage; they alone can discern the first hints
of their company’s mortality. Owners should
not panic at the slightest downturn or difficulty,
but shouldn’t turn a blind eye either.
Some of the first hints of business mortality
are financial, some “cultural” — others one
might call attitudinal or psychological:
 Payment timing (in and out) increases
in importance;
 Capital expenditures are deferred;
 New competitors appear;
 Buying trends shift;
 There’s little innovation in products or
methodologies;
 No new blood in management;
 Family or health demands impinge on
the owner’s ability to devote time or focus
to the business;
 There’s overreliance on an officer,
supplier, customer, channel or trend;
 The owner loses zest for finding new
deals or strategies;
 The owner lacks the desire or resources
to take the company to the next level.
Owners have many alternatives. They
don’t have to decide between immediately
selling or grinding it out with the status quo.
They can also try to reverse the direction of
the business (with eyes wide open as to the
likelihood of success), sell, “take money off the
table” or prepare for sale (without committing
30
September 24, 2018 ROI-NJ.COM
Owners need
to discern the
early hints
of business
mortality and
act while their
business still
looks promising
to an outsider.
to sell) — or combinations of all these.
The key is to evaluate the options. Early
on, owners have the advantage. First, they
have information no one else has, because
the first hints of business mortality precede
the classic, outward signs of distress. Timely
action can forestall or mitigate difficulties.
Secondly, current market developments
provide unprecedented possibilities.
Competition among strategic, private
equity, family office and foreign buyers is
fierce, and multiples are high. Acquirers might,
for example, welcome winning a bidding
contest by providing the owner with continued
employment, an equity stake or nonfinancial
terms that have value to the owner. If owners
sell in full or part, it may well be the first time
in their lives that they will be cash-rich.
If owners decide to stay in the business
and attempt to reverse negative trends, delay
is costly. Business disruption is faster than in
the past and remedial steps for improvement
must be taken quickly.
Even if owners don’t want to sell, they
should prepare their companies for the sale
process while they work on the turnaround.
Going through this exercise will enable them
to see their companies through a powerful
lens — as if they themselves were the buyer.
An active response is particularly important
because most business owner wealth is tied up
in their companies. Ultimately, there is only
one thing owners must avoid: doing nothing.
Sheon Karol
Managing director, The DAK Group
ROI-NJ.COM September 24, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

View Point

Consistent regulation of financial pros can only help

R
OI-NJ’s readers, we suspect, know the
difference between “investment advisers”
and “brokers” or “dealers” of investment
products. But not everyone does. Hence the
value of Gov. Phil Murphy’s plan to apply
the same legal and ethical standards to both
types of financial professional.
Going all the way back to the Investment Advisors
Act of 1940, investment advisers have been bound by a
“fiduciary duty” to their clients. A fiduciary duty is the
highest standard under the law. It means you have a binding
legal obligation to put your clients’ interests first — ahead of
your own. You must base advice on accurate and complete
information, disclose any potential conflicts of interest and
use a “best execution” standard to make trades efficiently at
the lowest possible cost.
Violate your fiduciary duty — by, say, recommending
a lousy investment simply because you will get a hidden
commission or fee in return — and your clients are entitled
to significant damages, even if they ended up suffering no
harm.  The attempt to impose a federal fiduciary duty on all
But “brokers” and “dealers” — who also provide
investment advice — are not subject to a fiduciary duty.
A fiduciary duty is the highest
standard under the law. It
means you have a binding legal
obligation to your clients.
The law holds them to a lesser standard, requiring only that
the investment products they recommend be “suitable” for
clients, considering their financial needs, objectives and
circumstances. And that, as you might imagine, leaves a lot
of wiggle room.
Investment advisers generally charge a flat fee or a
percentage of the assets they manage. “Broker-dealers”
are far more likely to receive their income in the form of
commissions, creating the obvious potential for conflicts of
interest. And, as Murphy noted, some broker-dealers receive
“significant undisclosed financial benefits in exchange for
steering clients toward certain investment products.”
financial professionals nationwide has a long history.
After the 2008 financial crisis, the Dodd-Frank Act of
2010 required the Securities and Exchange Commission
to study whether broker-dealers’ retail customers were
well-protected, and, in 2011, the SEC staff recommended a
uniform fiduciary standard.
By 2016, the SEC still had not acted on that
recommendation, and President Barack Obama’s
Department of Labor issued a rule imposing a version of
the uniform standard. Then, in March 2018, a federal court
struck down the rule on procedural grounds, and President
Donald Trump did not challenge the ruling.
Trump, of course, campaigned on a platform of
streamlining federal regulations, so it is no surprise he let the
rule die. Murphy, on the other hand, is positioning himself
as the “anti-Trump,” and plans to use the state’s Division of
Consumer Affairs to impose a uniform fiduciary duty on all
financial professionals in the state, including “broker-dealers.”
Murphy pegged his announcement to the recent 10-year
anniversary of the financial crisis, saying his proposal would
provide “the strongest investor protections in the nation.”
That’s a win for New Jersey consumers. And, if you ask
us, it’s also a win for the entire community of investment
professionals, who would see their profession elevated to one
governed by the highest ethical and legal standards.

Three Cheers! (or jeers) Show & Tell

MONTCLAIR ‘SOAR’-ING: Kevin Cummings is chairman
Montclair State University has and CEO of Investors Bank.
publicly announced its largest-ever
fundraising campaign, an effort to He talked about why he is pleased
raise $75 million dubbed “Soar, the
Campaign for Montclair State University.” The best news? The college already has more
to be joining the board of trustees
than $60 million raised during the so-called quiet phase. How about some loud cheers? of St. Benedict’s Prep in Newark.

“
I am honored to be invited to serve on St. Benedict’s board of
WOMEN #CRUSHINGIT: At a recent Women Business Leaders Forum hosted
trustees and to join an exceptional group
by the New Jersey Business & Industry Association, a variety of women executives,
of business, civic and academic
from industries as varied as communications and utilities, talked about how they found
leaders to help guide the school as
empowerment, achieved work-life balance and got involved in careers they love. Inspiring
it moves ahead. Investors Bank
stuff, worthy of cheers!
and St. Benedict’s Prep share
CAN YOU HEAR US NOW? The new a similar philosophy about
ROI-NJ Podcast lets you hear straight from creating a positive environment
the business leaders and newsmakers in New that provides intellectually
Jersey. There’s only so much time in your day motivated individuals
to read the news, so let’s bring you a taste of opportunities to develop
what we hear firsthand. Make sure you check their full range of talents. St.
out the first two episodes; look for the links on Benedict’s is a remarkable school
ROI-NJ.com. We hope we’ll earn your cheers! which does the heavy lifting in
our communities by developing
and shaping our next
generation of
leaders.”
“This ensures that people who are suffering from
mental illness or addiction will have access to the
services essential to their recovery. Individuals who
are struggling with a mental illness or addiction
should not have to jump through hoops to get
help.” — Assemblywoman Valerie Vainieri Huttle
(D-Englewood), talking about a bill that would require
greater coverage of behavioral health care services.

31
Northeast Carpenters & Contractors
ONE UNION, MANY FACES

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Raritan Plaza II
91 Fieldcrest Ave, 1st Floor, Edison, NJ 08837
www.cctnynj.org | info@cctnynj.org
Phone: 732-225-1300
ROI-NJ.COM September 24, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

Developers like Prism are turning outdated, out-of-the-way monoliths Focus

On …
into much-sought-after spaces

REAL ESTATE
ROCKIN’
A rendering of the new ON3 Project by Prism Capital partners, a redevelopment of the former Hoffmann-La Roche pharmaceutical site. —
­ PRISM CAPITAL PARTNERS

THE
SUBURBS
R
BY BRETT JOHNSON
bjohnson@roi-nj.com

eal estate developer Edwin Cohen has been one of the biggest proponents of
unlocking the potential of the state’s aged, sometimes vacant and forgotten
suburban megastructures.
“You had something like the (shuttered Hoffmann-La Roche) campus, (it) was a 116-acre site that was
gated for many years; no one really knew what stood behind the gates,” he said.
Cohen is now finding success there.
As principal partner at Prism Capital Partners, Cohen is guiding the ON3 project. That’s a massive redevelopment of the
former pharmaceutical site on the border of Nutley and Clifton, where Hoffmann-La Roche left a $10 million hole in the local
economy when it ceased operations there in 2013.
CONTINUED ON PAGE 40

33
ROI-NJ RETURN ON INFORMATION-NEW JERSEY September 24, 2018 ROI-NJ.COM

Focus On … Real estate

Alfred Sanzari Enterprises’

new Meadowlands hotel
is one of a kind — and has
two names on the front

The
BY BRETT JOHNSON
bjohnson@roi-nj.com

T
eaneck didn’t need another office,
Ryan Sanzari’s family-run real estate

suite
development firm decided. It needed
a hotel.
It’s about four years after that call was
made. Sanzari, chief operating officer
at Hackensack-based Alfred Sanzari
Enterprises, said it was the right pivot.
“We took a look at the market and realized
it wasn’t a good fit for an office building,” he
said. “It just wasn’t the right direction. But
we had this good footprint already within
the hospitality industry and this market. We

life
wanted a modern and unique hotel to build
on that footprint.”

And a month ago, Sanzari celebrated the

result of that decision-making: the opening
of the 15-story, 350-room dual-branded
Hampton Inn & Suites and Homewood
Suites.
He believes it’s a hotel unlike any other.
“In our opinion, this was really a first-
of-its-kind project in northern New Jersey,
possibly beyond that,” he said. “I certainly
have not seen a dual-branded hotel with a
comparable design to this one.”

Conversation Starter
Reach Alfred Sanzari Enterprises at:
sanzari.com/contact
or 201-342-2777.
A hotel guest suite, at top. The ribbon-cutting ceremony for the hotel, above. —
­ PHOTOS COURTESY ALFRED SANZARI ENTERPRISES

34
ROI-NJ.COM September 24, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

Focus On … Real estate

The Airbnb effect

Airbnb is the elephant in the hotel
room.
Ryan Sanzari of Alfred Sanzari
Enterprises said that online
marketplace isn’t part of the
discussion when it comes to the
development of projects such as
the Hampton Inn & Suites and
Homewood Suites in Teaneck.
Across the two monikers the hotel
But that doesn’t mean it’s
operates under, there are some shared
forgotten.
elements: a large lobby, fitness center, indoor
poor and meeting space. “Although Airbnb didn’t play a
factor in the way we designed this
But amenities are also uniquely split
hotel or the way we’ll operate it, I’d
up into rooms under the Homewood
be lying if I said it wasn’t a topic
banner, which features kitchens and a that comes up regularly in the
grocery shopping service, and those under hospitality industry,” he said.
the Hampton Inn & Suites banner, which
Ultimately, the San Francisco-
boasts a business center and other perks. based tech company is just
Dual-branded hotels, which industry another competitor, Sanzari
commentators have opined could be the added. Plenty come with the
future of the hospitality sector in the face territory.
of fierce competition from Airbnb, offer a “Whether it’s the rising number
versatility that Sanzari expects to make it an of options in the local Airbnb
industry standout. collection or the hotels that
“The reason it hasn’t been done more is the already exist in the region, we
economics; it warrants more capital,” he said. want to be No. 1 in a guest’s
mind,” he said. “That means
“With that being said, we had a willingness to
ensuring our guests keep leaving
spend more. The reward is in the fact that this our hotels with a smile on their
an asset that will be one of top-class service. face.”
That’s what we look for in a project.”
The reflective glass-covered hotel also
stands out for its catering to a millennial
demographic that is quickly encompassing
a majority of the region’s consumers —
adopting another trend that’s making
headlines in the hospitality sector.
“We looked into what millennials want,”
Sanzari said. “They want technology and
convenience. So, among many other things,
we’ve got digital keys for customers to use on
their mobile devices to get into the parking
garage.”
Sanzari has had high hopes from the
beginning for the hotel, which is now being
passed off to hotel management company From top: The facade
White Lodging. of the hotel with its
“What we set out to do was bring things two names. A hotel
up a notch in the region,” he said. “We guest room with a
wanted a hotel that would be around long king-size bed. The
after I’m here, and hopefully for generations hotel lobby provides
to come after that.” guests with many
twitter: @reporterbrett options for seating.

35
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Focus On … Real estate
Healthy
appreciation
BY BRETT JOHNSON
bjohnson@roi-nj.com
Commercial real estate professionals are
thinking about medical facilities like strip
malls.
Apples-to-oranges as it sounds, Ron
Krauskopf, a senior vice president at
Investors Bank, said there are some practical
reasons for it.
“Ten or more years ago, you’d just say, ‘I’ll
take a Toys R Us and a big box like a Sears
as tenants in something like a strip mall,’ ” he
said. “For obvious reasons, these days, people
are thinking much harder about what they
want in their buildings. And that applies to
the health care space today as well.”
Krauskopf leads a team that does health
care mortgage lending at Short Hills-based
Investors Bank, one of the top commercial
real estate lenders among community banks
in the state. He’s seeing a lot more attention
paid today to discovering the right mix of
hospitals, senior living facilities, private
practices, surgery centers, dialysis centers and
other medical office buildings in the state.
“As an example, at one time, there was a
large amount of urgent care centers popping
up,” he said. “About three years ago, we were
financing a lot of them. Now, we think there’s
an oversaturation; some are starting to close
or change hands. So, you have to know what’s
coming down the pike in this sector and
what the market can tolerate.”
Through his bank’s lending to businesses
and nonprofits establishing medical centers
around the state, Krauskopf has experienced
the industry’s shift toward population health.
It has made a dent in the demand for certain
real estate.
“If you go back a decade, physicians
were very entrepreneurial in nature,” he said.
“Surgery centers were popping up all over
the place. A lot was being taken out of the
hospital. And, now, a lot is going back into it.”
Investors’ health care lending leader
sees industry seeking right real estate mix
Ron Krauskopf, a senior vice president at Investors Bank. —
Surgery centers, private practice clinics
and other small physician-run settings
are seen as having an uncertain future
by commercial real estate lenders, as
reimbursements in the health care sector
36
­ PHOTOS COURTESY INVESTORS BANK
have pushed sole practitioners into larger
health care conglomerates.
Those medical professionals also have
banded together under physician-owned
organizations such as Summit Medical
September 24, 2018 ROI-NJ.COM
Group. Investors Bank was actually the
primary lender for the Berkeley Heights
campus that organization acquired several
years ago.
The bank, which values real estate loans
to this sector highly, on the assumption
that it’s a recession-proof industry, does do
some lending to hospitals that are looking
to expand with secondary outpatient clinics
or other facilities. But opportunities to do
mortgage lending for the biggest medical
systems in the state aren’t always available to
a community bank.
Conversation Starter
Reach Ron Krauskopf
of Investors Bank at:
rkrauskopf@investorsbank.com
or 973-474-9611.
“Banks are highly competitive when
it comes to winning the business of large
hospitals,” Krauskopf said. “For a bank of our
size, we’re never going to be able to compete
with the bigger banks that have the lowest
cost of capital and can do a $300 million
hospital campus mortgage loan.”
And, as far as the market for lending to
individual health care practitioners goes,
those deals still happen, Krasukopf said, but
the volume has reduced significantly.
“The pendulum has swung away from
entrepreneurial medicine to large hospitals
for now,” he said. “But we have to be ready
for that to change again. Because history has
taught us that the pendulum swings back the
other way.”
Trying to anticipate what the real estate
needs of the ever-changing industry will be a
few years from now is no easy task.
“Between hospitals gobbling up
everything left and right, the out-of-state
competitors coming to New Jersey, the
changes to Obamacare — the pace of change
ROI-NJ.COM September 24, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

Focus On … Real estate

has been nonstop,” he said. “We have to look Having said that, Krauskopf is bullish
at all of that.” both on the prospects for health care real
Krauskopf has become closely acquainted estate lending as a whole as well as his bank’s
with trends in the health care segment of the relevance in that space.
real estate market during his six years in his “We see New Jersey as being very
current role, during which he’s grown the critical to the health care market, not just
bank’s profile of health care mortgage loans for the existing major players, but also for
from nothing to $730 million. those starting to penetrate it,” he said. “And,
The team of nine he leads at Investors hopefully, we can be just as critical for these Investors Bank’s
all have previous experience with the health organizations that are in our backyard.” headquarters
care space — a must-have for the industry. twitter: @reporterbrett in Short Hills.
“The clientele in the health care space are
some of the most sophisticated borrowers
you can deal with as a bank,” Krauskopf
said. “You’re talking about large systems
with hundreds of millions if not billions in
revenue. They’re not looking for a lender
who wants to get their feet wet in the space.
There’s an assumption you know how
regulations and reimbursements work and
how it impacts their business.”

We don’t have the

Pharma luxury to think about
and the office market the weather or time
Things are changing at the of night - it doesn’t
intersection of the real estate
sector and the pharmaceutical
matter. People
industry. depend on power for
Daniel Johnsen, managing their homes; that’s
director of the brokerage services our job.
group in Cushman & Wakefield’s
state division, said the medicine
chest that is New Jersey was once
full of interest in leasing massive
new labs and research facilities.
“But the biggest thing in this world
right now is office space,” he said.
“There’s a tremendous amount
of other types of spaces — I think
there’s more than 8 million square
feet of lab and R&D space in north
and central New Jersey, which is
huge — but, most recently, we’re
seeing pharma companies taking
on office space for expansion.
That’s the talk of the town.”
Energizing New Jersey
Johnsen had a hand in the
largest office lease of the year
Meet Brian. He’s a substation supervisor at JCP&L, and he’s been Energizing
in the Garden State — Teva New Jersey for almost 30 years!
Pharmaceuticals USA Inc.’s
345,000-square-foot office in
You probably have seen him and his team in the field, doing their best to keep your lights on
Parsippany. He represented the
Israel-based generic drug-maker and your appliances working. Or maybe you remember seeing Brian coaching when his son
in the recently completed deal. played Pop Warner football – following in the footsteps of his father, a former star cornerback
for Morristown High School.
He foresees leasing activity
continuing in that direction.
However, other trends are at play,
too. Brian is proud to be part of your hometown energy team.

“At the same time, there’s an

increasing demand for smaller
labs and offices for startups,” he
said. “We’re really seeing those
deals getting done in the Princeton- www.jcp-l.com
Route 1 corridor. It’s something
we’re keeping an eye on.”

37
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Focus On … Real estate
LOFTY
ambitions
Renderings of The Lofts at the Prudential Center, above and right, which officials hope will provide
premium seating to a new audience. —
­ PRUDENTIAL CENTER
BY TOM BERGERON
tbergeron@roi-nj.com
Prudential Center officials announced
three new varieties of premium seating
last Monday morning in what they are
calling a continual effort to provide unique
experiences at a variety of prices.
The Lofts will offer three premium
seating options that will be sold at a lower
price point than the arena’s Platinum Club
luxury suites, according to Jason Gonella,
vice president of premium sales.
The Lofts will replace the existing Goal
Bar area on the Pru Center’s Infiniti Suite
Level at the north end of the arena.
The 14,560-square-foot premium club
space will offer eight-person private logo boxes,
four-person, half-moon shaped high-bar tables
Conversation Starter
Reach the Prudential Center at:
prucenter.com
or 973-757-6000.
September 24, 2018 ROI-NJ.COM
Prudential Center
announces three
new premium
seating options
and 145 individual seats in an open-concept
environment that features 30-foot ceilings.
All three options will lead back a
community lounge area where seat owners
will have premium food and beverage options,
including two 40-foot full-service bars and
in-seat waiting service. Purchasers will have
access to the seats for every event at the arena.
Annual pricing will range from $23,000
for an individual seat to $78,000 for the four-
top tables to $156,000 for the eight-person
private box, Gonella said.
Renovations on The Lofts will begin in
October. Gonella said the space should be The Lofts, Gonella said, will be about changed in and out and the bar and beverage
open by mid-December. increasing the customer experience. experience will be phenomenal.”
“We look at The Lofts as an additive “You want to get people in the building, Gonella said the product will be marketed
product,” Gonella said. “It provides no matter what the sport or entertainment to businesses of various sizes as well as high
an incremental way to open premium offering, and a lot of that is driven by net worth individuals — really, he said,
opportunities to a wide array of business experiences,” he said. anyone looking for a premium experience.
types and sizes. From a budget perspective, “I think what we’ve done here is created And, while the options officially went
it meets a lot of different needs. an environment with the food and beverage on sale last Monday, Gonnella said the
“We think The Lofts will provide a concept as well as the variety of the seating, Prudential Center sold some of the inventory
community neighborhood feel and meet the where you’ve got this unique experience in a during what Gonella called a “friends and
premium seating demands and needs of our very incredible space. There’s lots of different family” presale event.
current customer base.” places to have conversations. The food will be twitter: @tombergeron5
38
ROI-NJ.COM September 24, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Focus On … Real estate
vibe Park Avenue Club in Florham Park
opens its new events wing
BY TOM BERGERON
tbergeron@roi-nj.com
T
he ballroom, integrated with the
latest technology, including massive
video screens, has more than 5,400
square feet, can comfortably seat more than
300 — and can easily be subdivided into
thirds.
There’s a pre-event reception room. A
lobby area. Outdoor patio seating. A separate
entrance and valet parking.
And all of it comes with a contemporary
feel — in with white walls, lots of light and
wrought-iron railings, out with dark wood.
Greg Smith, the executive director of the
Park Avenue Club in Florham Park, couldn’t
say enough about the club’s $7.2 million
renovation — which includes the state-of-
the-art events space that adjoins the club’s
traditional dining experience.
“We’re so excited about this space,” he
said. “It will help us take our events to a
higher level.
“We really want to step a little bit more
into a more contemporary vibe. And, between
the look and the technology, we feel we have.
The addition had its grand opening
ribbon-cutting last week. Or, perhaps it was
a reopening of a club that opened in 1994.
“The new space is allowing us to reopen,
really, with the original founders’ vision,
which is to provide both event space and
daily dining.”
The Park Avenue Club is not your
traditional events space.
It was created as a nonprofit with
philanthropy in mind. Which is how it
remains today, as the Park Avenue Club
works in coordination with the Park Avenue
Foundation.
“The concept has always been and still
remains that the Park Avenue Club is a social
dining club for private members and their
invited guests,” Smith said. “The dining club
has a greater mission in that every dollar we
net, as a nonprofit, finds its way back to the
foundation.”
Smith said the foundation has a
distributed more than $6 million to local
Renderings show the new exterior, top; the ballroom, center, which can be divided into smaller rooms; and charities and local cultural organizations
the upstairs patio, bottom, which includes a stone fire pit. —
­ PHOTOS COURTESY PARK AVENUE CLUB since it opened.
39
All of this means you have to be a
member to have an event there.
Smith, however, said the barriers to entry
are low.
Individual and corporate memberships
can start as low as a $1,500 initiation fee
plus annual dues of $1,500 and an annual
minimum of $850 for dining.
The membership, he said, comes with
reciprocal memberships at more than 195
clubs worldwide, including many in the
area (Smith mentioned the Princeton Club
in Manhattan and the Union League Club
in Philadelphia) as well as many prominent
New Jersey country clubs.
Smith said the new events space makes
it more than worth the membership — and
that the space was created with corporate
events (as well as weddings) in mind.
“We were watching our corporate
business decline a little bit, in all honesty,” he
said. “The technology that went in, not only
with just automated screens on the projectors
that come down out of the ceiling, but the
smart wiring that’s behind the wall was put
in specifically for the corporate side to really
allow us to hold any type of corporate event,
from a gala to networking to a corporate
meeting.
“Our goal is to bring in businesses for
hourly use, whether it’s an all-day meeting or
taking the space for several days for retreats.
We wanted an environment in the new space
that was fitting of weddings, but we didn’t want
that space to offend the corporate member.”
Jeff Rawding of F.J. Rawding AIA in
Morristown was the architect. Paul Natoli
of Joseph A. Natoli Construction in Pine
Brook did the construction, which started
July 5, 2017.
Smith feels their efforts will help the club
attract a new generation of members.
“What we’ve been seeing is, when
C-suite executives retired, we were not
necessarily watching their younger-
generation replacements join,” he said. “And
we absolutely attribute that, through a lot
of analytics and focus groups that we’ve
conducted over the years, that we were just
a little bit dated.”
That’s no longer the case.
twitter: @tombergeron5
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Focus On … Real estate
CONTINUED FROM PAGE 33
The project, which aims to restore a
missing taxpayer base through its completion,
is nearly finished with its $10 million first
phase of work, refreshing aspects of the
dated structure that Cohen said would cost a
fortune to replicate in new construction.
Besides being a practitioner of the
redevelopment of New Jersey’s older
suburban structures, Cohen’s a purveyor
of the oft-referenced “live, work, play”
trend in development today, a concept of
transplanting urban-like environments to
the suburbs.
He thinks the ON3 project is slated to be
one of the best examples of that dynamic.
“It’s a trend that people talk about a lot,
but often have had a hard time truly creating,”
he said. “We had an absolutely ideal piece of
property to do that with here. And we had a
Conversation Starter
Reach Edwin Cohen
of Prism Capital Partners at
edwin.cohen@prismpartners.net
or 201-567-2711.
Connell Foley LLP’s
office in the 56 at
Roseland property. —
­
MOUNTAIN
DEVELOPMENT CORP.
40
Edwin Cohen, principal partner at Prism Capital
Partners, is guiding the ON3 project. —
­ PRISM
CAPITAL PARTNERS
zeal to make it happen.”
The ON3 redevelopment is located just
nine miles from Manhattan on Route 3,
which Cohen will remind you didn’t even
exist when the structure first was built. It aims
to integrate office and research facilities with
September 24, 2018 ROI-NJ.COM
recreational, hospitality and wellness options.
It was key, Cohen added, to have an
overwhelming amount of amenities built
into the structure.
“With unemployment at a low number,
tenants have to provide substantial amenities
to attract new labor,” he said. “That’s what
this property has, over and above most in the
marketplace.”
Put simply: Developers that don’t
seize on the opportunity for creating rich
amenities in the suburban zones won’t
remain competitive for high-quality tenants
in the future, he said.
The ON3 project’s anchor tenant is the
combined Hackensack Meridian School
of Medicine at Seton Hall University,
which will be the state’s first new private
medical school in four decades. It has also
already signed on the Ralph Lauren Corp.
and Quest Diagnostics as tenants, among
others.
“We are also right now negotiating with
two or three international companies to
become prospective tenants here,” Cohen
said. “There’s so much demand by high-
profile tenants, and that’s feeding additional
interest.”
ROI-NJ.COM September 24, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

Focus On … Real estate

The exterior, above, and lobby, at right, of Mountain Development Corp.’s new 56 at Roseland building. ­


Others are seeing the same potential at
similar sites.
Mountain Development Corp.
recently realized an opportunity to bring
top-tier tenants into once-aged suburban
architecture. Its new 56 at Roseland
building, a namesake for the acre count
and borough it’s located in, has achieved
near-full occupancy with some big industry
names.
Last year, it attracted Connell Foley
LLP. The law firm, one of the largest in Michael Seeve, president at Woodland Park-based
the state, occupied nearly a quarter of the Mountain Development Corp. —
­ PHOTOS COURTESY
400,000-square-foot building. It joined MOUNTAIN DEVELOPMENT CORP.

another prestigious law firm, Lowenstein

Sandler LLP, at the redeveloped Essex
County building — another former
pharmaceutical campus.
Michael Seeve, president at Woodland
Park-based Mountain Development Corp.,
said the 2017 repositioning of this campus
allowed the firm to re-evaluate the sort of
environments these tenants are looking for
in today’s market.
“You once had this trend of law firms
wanting secluded, mahogany spaces where
they could speak quietly with clients,” he
said. “But, today, they want spaces that are
much more open and collaborative. We were
able to create that.”
Seeve said there’s a lot of opportunity
out there for more up-to-date work
environments to be made out of forgotten
infrastructure.
“Our approach was to take advantage of
the assets this suburban building had, while
also updating them in a way that made it
exciting for tenants,” he said. “And there’s
more of that still that could be done. (New
Jersey suburban buildings) have had some
the most exciting potential in the hands of a
developer with the capital needs to make it
happen and the ability to make it happen in
a smart way.”
twitter: @reporterbrett Lowenstein Sandler’s office at the 56 at Roseland building. ­

41
ROI-NJ RETURN ON INFORMATION-NEW JERSEY September 24, 2018 ROI-NJ.COM

Lists
N.J. COMMERCIAL REAL ESTATE COMPANIES Ranked by revenue
Lists on ROI-NJ.com/book-of-lists/

Company name Revvenue 20171

Re Employyees 20182
Emplo Key Ex
Executiv
ecutive(s)
e(s)
Location
REALOGY CORP. > $50M 501—1,000 Richard Smith, Chairman/President/CEO
1 175 Park Ave., Madison, N.J. 07940
973-407-2000 / www.realogy.com
MACK-CALI REALTY CORP. > $50M 251—500 Michael DeMarco, CEO
2 210 Hudson St. - Suite 400, Jersey City, N.J. 07311
732-590-1010 / www.mack-cali.com
CBRE > $50M 250—500 Jeffrey Hipschman, Sr. Managing Dir.
3 250 Pehle Ave. Park 80 W. - Ste. 600, Saddle Brook, N.J. 07663
201-712-5600 / www.cbre.com
CHELSEA PROPERTY GROUP INC. > $50M 101—250 David Bloom, Chairman
4 105 Eisenhower Parkway, Roseland, N.J. 07068
973-228-6111 / www.cpgi.com
CUSHMAN & WAKEFIELD OF NEW JERSEY INC. > $50M 101—250 Andrew Judd, Sr. Managing Director
4 1 Meadowlands Plaza - 7th Floor, East Rutherford, N.J. 07073
201-935-4000 / www.cushwake.com
EDISON PROPERTIES LLC > $50M 101—250 Jerry Gottesman, Chairman of the Board
4 100 Washington St., Newark, N.J. 07102
973-643-7700 / www.edisonproperties.com
HAMPSHIRE COMPANIES (THE) > $50M 101—250 Jon Hanson, Chairman
4 22 Maple Ave., Morristown, N.J. 07960
973-292-9595 / www.hampshireco.com
HARTZ MOUNTAIN INDUSTRIES INC. > $50M 101—250 Gus Milano, President/COO
4 400 Plaza Drive, Secaucus, N.J. 07096
201-348-1200 / www.hartzmountain.com
JLL > $50M 101—250 Robert Kossar, Exec. Managing Dir.
4 1 Meadowlands Plaza - Ste. 804, East Rutherford, N.J. 07073
201-528-4400 / www.jll.com
KAPLAN COMPANIES INC. > $50M 101—250 Michael Kaplan, CEO
4 433 River Road, Highland Park, N.J. 08904
732-846-5900 / www.thinkkaplan.com
PRISM CAPITAL PARTNERS LLC > $50M 101—250 Eugene Diaz, Principal
4 200 Broadacres Drive, Bloomfield, N.J. 07003
973-562-9580 / www.prismpartners.net
ALEXANDERS INC. > $50M 51—100 Steven Roth, CEO
12 210 Route 4 East, Paramus, N.J. 07652
201-587-8541 / www.alx-inc.com
1
Revenue from N.J.-based locations
2
Employees in N.J.

42
ROI-NJ.COM September 24, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

Listscontinued
N.J. COMMERCIAL REAL ESTATE COMPANIES Ranked by revenue
Lists on ROI-NJ.com/book-of-lists/

Company name Revvenue 20171

Re Employyees 20182
Emplo Key Ex
Executiv
ecutive(s)
e(s)
Location
CONIFER REALTY LLC > $50M 51—100 Timothy Fournier, President/CEO
13 20000 Horizon Way - Ste. 180, Mount Laurel, N.J. 08054
856-793-2078 / www.coniferllc.com
KUSHNER REAL ESTATE GROUP > $50M 51—100 Murray Kushner, Chairman
13 520 US Highway 22 - Fl. 3, Bridgewater, N.J. 08807
908-725-8100 / www.skaffiliates.com
NEWMARK KNIGHT FRANK > $50M 51—100 David Simson, Vice Chairman/COO
13 201 Route 17 North, Rutherford, N.J. 07070
201-842-6700 / www.ngkf.com
NEWMARK KNIGHT FRANK'S > $50M 51—100 Steven Cousart, Exec. V.P./Managing Dir.
13 401 Route 73 North - Ste 120, Marlton, N.J. 08053
856-334-2100 / www.ngkf.com
RUSSO DEVELOPMENT CO. > $50M 51—100 Lawrence Russo, Chairman/FounderJr.
13 570 Commerce Blvd., Carlstadt, N.J. 07072
201-487-5657 / www.russodevelopment.com
WEICHERT COMMERCIAL REALTORS > $50M 51—100 James Sousa, President
13 225 Littleton Road, Morris Plains, N.J. 07950
973-267-7778 / www.weichertcommercial.com
WOODMONT PROPERTIES > $50M 51—100 Donald Witmondt, Chairman
13 100 Passaic Ave. - Ste. 240, Fairfield, N.J. 07004
973-316-9400 / www.woodmontproperties.com
SJP PROPERTIES > $50M 26—50 Steven Pozycki, Founder/Chairman/CEO
20 389 Interpace Parkway-Ste. 2, Parsippany, N.J. 07054
973-299-9117 / www.sjpproperties.com
VISION REAL ESTATE PARTNERS > $50M 11—25 Samuel Morreale, Managing Membera
21 1 Bloomfield Ave., Mountain Lakes, N.J. 07046
973-299-4000 / www.visionrep.com
RIVER TERMINAL DEVELOPMENT CO. $20M—$50M 101—250 Robert Neu, President
22 100 Central Ave. - Ste 630, South Kearny, N.J. 07032
973-589-0063 / www.riverterminal.com
MARCUS & MILLICHAP INC. $20M—$50M 51—100 Brian Hosey, V.P./Regional Mgr.
23 250 Pehle Ave. - Ste. 501, Saddle Brook, N.J. 07663
201-742-6100 / www.marcusmillichap.com
MATRIX DEVELOPMENT GROUP $20M—$50M 51—100 Joseph Taylor, President/CEO
23 3 Centre Drive, Monroe Township, N.J. 08831
732-521-2900 / www.matrixcompanies.com
1
Revenue from N.J.-based locations
2
Employees in N.J.

caneav.com 732-842-5708

CONFERENCE - PRESENTATION - TRADE SHOW - CEREMONY & GALA

43
ROI-NJ RETURN ON INFORMATION-NEW JERSEY September 24, 2018 ROI-NJ.COM

Listscontinued
N.J. COMMERCIAL REAL ESTATE COMPANIES Ranked by revenue
Lists on ROI-NJ.com/book-of-lists/

Company name Revvenue 20171

Re Employyees 20182
Emplo Key Ex
Executiv
ecutive(s)
e(s)
Location
MURRAY CONSTRUCTION CO. $20M—$50M 51—100 Douglas Friedrich, President
25 374 Millburn Ave., Millburn, N.J. 07041
973-376-7650 / www.murrayconstruction.com
NAI HANSON INC. (JAMES E.) $20M—$50M 51—100 William Hanson, President
25 235 Moore St., Hackensack, N.J. 07601
201-488-5800 / www.naihanson.com
WHITESELL CONSTRUCTION CO. INC. $20M—$50M 51—100 Thomas Whitesell, Chairman of the Board
25 1 Underwood Court, Delran, N.J. 08075
856-764-2600 / www.whitesellco.com
MOUNTAIN DEVELOPMENT CORP. $20M—$50M 26—50 L. Robert Lieb, Chairman
28 3 Garret Mountain Plaza - Ste 204, Woodland Park, N.J. 07024
973-279-9000 / www.mountaindevelopment.com
SUDLER MANAGEMENT $20M—$50M 26—50 Peter Sudler, President
28 245 Green Village Road, Chatham, N.J. 07928
973-257-0700 / www.sudlerco.com
COMMUNITY INVESTMENT STRATEGIES INC. $10M—$20M 101—250 Christiana Foglio, Founder/CEO
30 1970 Brunswick Ave. - Ste.100, Lawrenceville, N.J. 08648
609-298-2229 / www.communityinvestmentstrategies.com
DAVIS ENTERPRISES $10M—$20M 101—250 Roger Davis, Owner
30 8000 Sagemore Drive - Ste. 8201, Marlton, N.J. 08053
856-985-1200 / www.daviscommunities.com
FEDERAL BUSINESS CENTERS $10M—$20M 101—250 Anthony Rispoli, Dir.-Real Estate Leasing
30 300 Raritan Center Parkway, Edison, N.J. 08818
732-225-2200 / www.federalbusinesscenters.com
PRC GROUP INC. $10M—$20M 101—250 Robert Kaye, Chairman/CEO
30 P.O. Box 70, West Long Branch, N.J. 07764
732-222-2000 / www.prcgroup.com
TOP REALTY $10M—$20M 101—250 Sang Chang, Broker/Owner
30 485 Sylvan Ave., Englewood Cliffs, N.J. 07632
201-503-0090 / www.toprealtynj.com
COLLIERS INTERNATIONAL $10M—$20M 51—100 David Simon, Exec. Managing Dir.
35 300 Interpace Parkway - Bldg. C - 3rd Floor, Parsippany, N.J. 07054
973-299-3000 / www.colliers.com
KISLAK CO. INC. (THE) $10M—$20M 51—100 Robert Hollan, President/Co-Managing Dir.
35 100 Woodbridge Center Drive, Woodbridge, N.J. 07095
732-750-3000 / www.kislakrealty.com
1
Revenue from N.J.-based locations
2
Employees in N.J.

Kelly Akre Brooke Gagliano Tara Gilvar

Grignard Company Frutta Bowls B.I.G.

O C T O B E R 4 , 2 0 1 8 | F L O R H A M PA R K , N J

Natasha Hemmings Mindy Scheier Stacy Gilbert, CPA

Girl Scouts Heart NJ Runway of Dreams Citrin Cooperman

Supporting Sponsor Donations Supporting

SPONSORS

Email for information: N J E V E N T S @ c i t r i n c o o p e r m a n . c o m

44
ROI-NJ.COM September 24, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

Listscontinued
N.J. COMMERCIAL REAL ESTATE COMPANIES Ranked by revenue
Lists on ROI-NJ.com/book-of-lists/

Company name Revvenue 20171

Re Employyees 20182
Emplo Key Ex
Executiv
ecutive(s)
e(s)
Location
LEE & ASSOCIATES $10M—$20M 51—100 Rick Marchisio, President/Principal
37 669 River Drive - Ste 201, Elmwood Park, N.J. 07407
973-337-1144 / www.lee-associates.com
LEVIN MANAGEMENT CORP. $10M—$20M 51—100 William Farber, CEO
37 P.O. Box 326, Plainfield, N.J. 07061
908-755-2401 / www.levinmgt.com
OTSUBO REALTY NEW JERSEY $10M—$20M 51—100 Kengie Otsubo, President
37 2024 Center Ave., Fort Lee, N.J. 07024
201-461-3500 / www.otsuborealty.com
SITAR REALTY COMPANY $10M—$20M 51—100 William Sitar, CEOSr.
37 1481 Oak Tree Road, Iselin, N.J. 08830
732-283-2000 / www.sitarcompany.com
ADVANCE REALTY DEVELOPMENT $10M—$20M 26—50 Peter Cocoziello, Owner
41 1041 Route 202/206, Bridgewater, N.J. 08807
908-719-3000 / www.advancere.com
AVISON YOUNG $10M—$20M 26—50 Jeffrey Heller, Managing Dir.
41 1120 Headquarters Plaza - North Tower - 8th Fl, Morristown, N.J. 07960
973-898-6360 / www.avisonyoung.com
BUSSEL REALTY $10M—$20M 26—50 Steve Bussel, President
41 2 Ethel Road - Ste. 202A, Edison, N.J. 08817
732-287-3777 / www.bussel.com
GOLDSTEIN GROUP INC. (THE) $10M—$20M 26—50 Alan Goldstein, Chairman
41 45 Eisenhower Drive - Ste. 500, Paramus, N.J. 07652
201-703-9700 / www.thegoldsteingroup.com
HELLER INDUSTRIAL PARKS INC. $10M—$20M 26—50 David Paster, V.P.
41 205 Mill Road, Edison, N.J. 08817
732-287-4880 / www.hellerpark.com
NAI DILEO-BRAM & CO. $10M—$20M 26—50 Robert DiLeo, Principal/Dir.-Business
41 1315 Stelton Road, Piscataway, N.J. 08854
732-985-3000 / www.naidb.com
SANZARI ENTERPRISES (ALFRED) $10M—$20M 26—50 David Sanzari, President
41 25 Main St., Hackensack, N.J. 07601
201-342-2777 / www.sanzari.com
SAVILLS STUDLEY $10M—$20M 26—50 Thomas Carragher, Sr. V.P./Branch Mgr.
41 201 Route 17 N. - Se. 902, Rutherford, N.J. 07070
201-556-9700 / www.savills-studley.com
1
Revenue from N.J.-based locations
2
Employees in N.J.

45
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Non Profit
The Ammon
Foundation
Ammon Foundation hosted a leadership event for 100-plus people in recovery in August at Rutgers University. —
Origin
The Ammon Foundation
launched in October
2016 as the philanthropic
endeavor of Ammon
Labs — the drug testing
provider of addiction
treatment professionals
and health care partners
throughout the eastern
United States.
Mission
The Ammon
Foundation’s mission
is to provide strategic
support to remove
barriers for those in
addiction recovery
seeking to continue their
education.
Goals
The Ammon Foundation
has committed to
distributing at least
$100,000 in scholarships
in 2018. It is also
focused on growing its
Empowerment Workshop
series and is hoping
to hold 75 workshops
by the end of the year.
Additionally, the Ammon
Foundation hopes to
continue to establish
partnerships with the
local community to
ensure it can provide
resources to individuals
in recovery and support
a holistic, community-
oriented approach to
addiction recovery.
Conversation Starter
For more information, please contact
the foundation directly at:
info@ammonfoundation.org
or 908-525-3735.
To learn more about available scholarship
opportunities and empowerment
workshops go to:
ammonfoundation.org/scholarships-3/.
Programs
Through the Ammon
Recovery Scholars
Program, the foundation
offers financial
scholarships to
individuals in recovery
to pursue education
(GED/HSE programs,
certificate programs,
vocational/trade school,
two-year community
college or four-year
universities) and then
aims to additionally
support recipients with
46
Company-sponsored,
addiction-focused
­ THE AMMON FOUNDATION
academic, personal and
professional assistance.
In the Empowerment
Workshop Program,
the foundation has
developed an evidence-
based and nationally
recognized six-module
life-skills training
program, with the goal of
arming individuals with
vital life skills — bridging
the gap from treatment
and recovery.
September 24, 2018 ROI-NJ.COM
Where: 1622 S.
Wood Ave., Linden
Serving: Focused
heavily on the
tri-state area,
especially New
Jersey – but
providing support to
individuals all over
the domestic USA.
Key members:
Mariel S. Hufnagel,
executive director;
board of trustees:
Stephen Haupt,
chairman; Charles
Cardona, vice
chairman; Andrew
Haupt, secretary;
Evan Haupt,
treasurer.
Benefactors
To date, the foundation
has been very lucky
to be the benefactor
of charitable gifts
from a very diverse
pool. Individuals,
other foundations,
corporations, small
businesses, hospital
systems, community-
based organizations
and more have all
chipped in to support
the foundation’s critical
mission. This speaks to
the breadth of impact
that addiction has —
as no population is
unaffected.
Achievements
Since Jan. 1, the Ammon Finally
Foundation has awarded The Ammon Foundation
over $41,000 in academic is currently in the midst
scholarships to 28 of a capital campaign
individuals in recovery. to raise $100,000 by the
The foundation has also end of 2018 to support
hosted 47 Empowerment the Empowerment
Workshops. Workshop series. Named
the Empowerment
Fundraising Hero Campaign, the
$100,000 will enable
The Ammon Foundation
receives tremendous the foundation to host
30 Empowerment
support from Ammon
Labs — which covers Workshop Series across
its area of operation
all of the foundation’s
and provide 600
administrative costs.
people with invaluable,
Every single dollar raised
evidence-based skills
is able to directly go
education to ensure
towards scholarships
they have the tools for
and workshops. The
long-term personal
foundation has raised
over $80,000 since Jan. success. To learn more
about contributing to
1. Charitable donations
the Empowerment
are provided through
generous supporters Hero campaign,
through the year, and please reach out to
the Ammon Foundation EmpowermentHero@
hosts a number of annual ammonfoundation.org.
fundraising events.
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