IOREBA Presents Inaugural Office and Industrial Brokers Awards

Presentation for Largest Leases of 2010 Highlighted Association's Annual Golf & Tennis Outing. End Quote

Newark, NJ (1888PressRelease) June 22, 2011 - The Industrial and Office Real Estate Brokers Association of the New York Metropolitan Area (IOREBA) presented its inaugural Office and Industrial Brokers Awards, honoring the four largest lease transactions of 2010. The awards dinner followed the Jeffrey Siegel Memorial 42nd Annual Golf & Tennis Outing at the Essex County Country Club in West Orange.

"We are pleased to honor these industry professionals," said Sean Brady, Senior Director of Cushman & Wakefield, Inc., and 2010-11President of IOREBA. "The many entries provided a great deal of insight into the professionalism and creativity that go into making a real estate transaction work for all involved. The largest leases among the many entries were calculated by multiplying the leasable square footage by the number of lease years, excluding free rent. This formula makes the winner clear."

"The golf event was a sell out, and we had a record number of sponsors for the event. All this was possible because of the event Chairmen, Jeff Furey, Mike Markey, and John Ritter and our Executive Director, Ann Violette who did a spectacular job," Brady added.

The awards, presented by Peter Visceglia, President of Federal Business Centers, were:

Largest Office Agency: Honors went to Jon Meisel, Tom Reilly, and Sumner Putnam of Jones Lang LaSalle, representing landlord Digital Regional Trust in the 72,826-square-foot, 16-year lease by Savvis at 375 South Randolphville Rd. in Piscataway, N.J. Savvis, an IT infrastructure services company, is utilizing the space as a new data center.

Largest Office Tenant Representation: Geoff Schubert and Dan Casey of CB Richard Ellis and Thomas Welsh of Welsh, Chester, Galiney & Matone represented Atlantic Health Systems in its 189,000-square-foot, 14-year lease at National Business Parks' 435 South Street in Morristown, N.J. Both honorees are Past President of IOREBA.

Largest Industrial Agency: Frank Caccavo, Jason Goldman, and Andrew Siemsen of Cushman & Wakefield, Inc. represented landlord Allianz of America in the lease by retailer Children's Place of 526,499 square feet of warehouse/distribution space for 10.92 years at 112 Interstate Boulevard in South Brunswick, N.J.

Largest Industrial Tenant Representation: The Merit Group, a paint products supplier, was represented by Chuck Fern, Joel Lubin, Rob Kossar and David Knee of Jones Lang LaSalle in a 326,741-square-foot lease of warehouse/distribution space for 10.75 years at 1500 Rahway Avenue in Avenel, N.J. The landlord is Pantheon Properties.

The event also marked a changing of the guard, with 2010-11 President Sean Brady ceremoniously passing the gavel to incoming 2011-12 IOREBA President David Simon of Cassidy Turley. "Sean deserves special recognition for the tremendous effort he devoted to IOREBA over the past year," stated Simon. "Under his direction, IOREBA has increased membership, initiated the broker awards program and the Market Research Reports portal on our web site. Sean has done an excellent job, and I look forward to building on the momentum that he helped establish."

Other members of IOREBA's incoming Board were also introduced: Joshua Levering of NAI James E. Hanson, Vice President; Marc Graham of Cushman & Wakefield, Secretary; and Adam Silver of Grubb & Ellis, Treasurer.

The charitable beneficiary for this year's event was Move for Hunger, which collects food for the New Jersey Food Bank. "We collected more than 500 pounds of food," Brady said. "We are very gratified by the support that our members continue to provide for these worthy efforts." This amount of food represents 400 life-saving meals for the needy and homeless.

With roots dating back to 1927, IOREBA is one of the nation's largest regional commercial real estate groups, growing to more than 300 members conducting business in New Jersey, New York, Pennsylvania and Connecticut. The organization has continually expanded its offerings, designing more useful programs, and teaming with co-hosts for several events to improve the networking environment. To assist members in difficult economic times, IOREBA has also cut costs for events and membership to ensure that members are able to take full advantage of everything the organization has to offer.

To become a member, please visit http://www.ioreba.com/ for an application and instructions.

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