April 2013 - Morris County Chamber of Commerce

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Inside this issue...
Articles
Award-winning developments
reflect success of collaboration 1
Towns spur growth inside
their borders
1
Health and Wellness
Ensure you get true
medical team care 2
In the Trenches
If you change they will come
7
April 2013 • Issue 4 / Volume 5
Award-winning developments reflect success of collaboration
By Michael Daigle
In a troubled commercial real estate market, four Morris County developments are
comforting indicators of success. With an office vacancy rate at a persistent 21 percent,
Morris County faces the challenge of educating the community about the changing
realities of the local real estate market and options communities and developers have
available to them.
Four projects cited by the Morris County Economic Development Corp. (MCEDC) at
the recent 21st Annual Partners in Economic Development awards luncheon show that
progress can be made on this front through teamwork.
The projects showed the “collaboration of financiers, developers, government and
investors,” according to Jim Jones, executive director of MCEDC, an affiliate of the Morris
County Chamber of Commerce.
Projects such as these also often require additional financing, some of which was
supplied by the New Jersey Economic Development Authority (NJEDA), whose chief
executive officer, Michelle Brown, was the keynote speaker at the luncheon.
Brown said her agency’s support of such projects is a strong indication of the efforts of
the administration of Gov. Chris Christie to attract new jobs to New Jersey and to help
existing businesses stay and thrive in the state.
That support also is evident in the proposed 2014 state budget that calls for additional
cuts in business taxes and incentives for job creation and retention and training, she said.
The award-winning projects exhibited the breadth of the Morris County economy, as a
large international corporation chose to stay in the county, a warehouse and shipping firm
relocated here and a manufacturing company found a new home in the county.
The winning projects were:
•Business Attraction Award – Frank Kobolo of Kobolo Realty LLC and Barry Cohorsky
and John Schlip of NAI James E. Hanson for leasing a vacant building in Mount Olive to
Uncommon Carrier, a logistics provider from Hudson County. The company needed a
location to better serve one of their largest customers located in western Morris County.
•Real Estate Broker Award-Office Category – David Warren of Resource Realty
and Robert Donnelly Sr., Marc Rosenberg, Robert Donnelly Jr. and David Bernhaut of
Cushman & Wakefield for selling 94 acres in Hanover to Bayer HealthCare for a new
675,000-square-foot East Coast corporate headquarters.
•Real Estate Broker Award-Industrial/Flex Category – Jeffrey Fulton, Richard Meyers
and Ed Schein of Team Recourses SBWE and Ken Choi of Realty 7 LLC for selling a
52-acre site in Boonton Township to Sil Thread, Inc., a fashion industry supplier of
hangers, thread, zippers and trim goods.
•Business Expansion Award – Bayer HealthCare, Vision Equities LLC, Hanover Township
and Rubinstein Partners for the effort to consolidate Bayer’s East Coast headquarters in
Hanover.
Tom Mastrangelo, the Morris County freeholder director, called the Bayer transaction
“amazing.”
“It is one of the largest real estate transactions in the county’s history,” he said. “It could
mean 3,000 jobs.”
He termed the project an example of a successful approach taken by both the state and
the county to retain and attract businesses here.
Former Hanover Mayor John
Sheridan, who was in office
when the Bayer transaction was
announced, said, “This is just
stellar.”
The cooperation between
government agencies, the real
estate companies and all involved
resulted in “a most important
expansion,” he said. These are
jobs that could easily have been
shifted to other states, such as
North Carolina or Texas, he
added.
Brown said her agency was
pleased to be a partner in the
Bayer transaction.
The state authority provided
$14.1 million through its
Business Retention and
Relocation Assistance grant
(Continued on page 4)
Michelle Brown, chief executive officer of the New Jersey Economic Development
Authority, speaks at the 21st Annual Partners in Economic Development awards
luncheon.
Photo: Kramerimages.com
Towns spur growth
inside their borders
By Christopher Reardon
From Long Hill to Jefferson and Washington to Pequannock, the municipalities of Morris
County are as different as people. Yet towns everywhere share certain goals – a quality of
life for residents, controlling taxes and growing at a manageable pace.
For many Morris County towns, economic development is a key component to
achieving those goals. Three that have flourished in this area – Florham Park, Madison
and Parsippany-Troy Hills – offer different attractions to businesses yet share common
approaches.
Florham Park’s formula for economic development comprises low taxes, collaboration
with the business community and working with the state, according to Mayor Scott
Eveland.
(Continued on page 3)
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Health and Wellness
Ensure you get true medical team care
By David Cunic
My goal for this column is to help you build an
arsenal of tools for dealing with your health
care. Last month I armed you with general
questions to ask your health care providers.
This month I want to ask you a few questions
to ensure you’re getting true medical team
care:
Are your doctors and fitness pros willing to
refer you to more qualified specialists when
needed?
Who are they referring you to?
And do they have a financial interest in their
referral?
No individual expert knows it all – nor
should he or she pretend to. All of us in
the medical and fitness fields have our own
specialties and the moment a condition is out
of our realm we should be consulting with,
or referring patients to, another specialist.
However, this happens rarely because people
want convenience – or providers have hidden
agendas.
personal trainers, podiatrists, chiropractors,
physical therapists and others. Team
management wants the best care for their
athletes and knows it takes more than one
expert.
You should demand the same type of care
for yourself and it is up to you to make sure
you’re getting it. Does your chiropractor
or primary care physician search for the
cause/root of a problem or just look at your
symptoms and go from there? Is your medical
provider open-minded and willing to refer
you to another specialist if necessary? Or
does he or she try to handle it all?
Below are some key relationships for how a
true medical team approach can be utilized.
If either “partner” is unwilling to work with
the other, your best interests are not being
considered.
Personal Trainer and Physical Therapist
While most personal trainers have
good experience with exercise for healthy
individuals, they don’t have the doctorate
We tend to let one medical professional
degree in rehabilitation that is required for
handle it all, which really makes no sense. If
physical therapists. Your trainer and therapists
you think about professional athletes, they
should be working together for your health.
17339 Morris Chamber Ad v2_Layout 1 3/11/13 4:24 PM Page 1
count on team doctors, orthopedic surgeons, If your trainer doesn’t want to work with or
contact your physical therapist, that trainer is
not right for you.
Your trainer should not be mobilizing your
joints or offering self-help techniques.
Chiropractors and Physical Therapists
This debate has been going on for years. If
your chiropractor says, “Stop doing physical
therapy,” or vice versa, find a replacement.
Chiropractic care and physical therapy are
very different disciplines and research shows
that receiving both treatments at the same
time can help speed your recovery for many
conditions.
Chiropractors and Podiatrists
Podiatrists are educated in foot and ankle
care for about three years – significantly
longer than chiropractors. Yet more
and more chiropractors are fitting and
customizing foot orthotics for their patients.
Yes, it may help with low back pain but is it
correcting, or possibly furthering damage, to
the foot? If you require foot orthotics, make
sure they discuss your case to decide the best
type for you.
“All-in-One” Clinics (Pain Management,
Chiropractic, Physical Therapy)
If you have a medical issue, expert care is
more important than convenience – unless
the providers in all three disciplines will meet
with you at the same time to discuss your
case in a true medical team approach.
Doctor-owned Physical Therapy and
Chiropractic Centers
With health care costs skyrocketing, you
want quality care at an affordable price. If
your doctor refers you to a “value” care
center, it is okay to ask if he or she has a
financial interest in that business – and to ask
for other options.
Overall, the lesson in this month’s column
is if you go to a fitness or medical professional
who feels that he or she can “do it all,” don’t
walk away – run! The medical code of ethics
talks about empowering the patient and
providing the best possible care – and that
often means a more qualified specialist.
David Cunic is the owner and manager of DMC
Athletics and Rehabilitation. He has designed
his own philosophy of complete therapy, taking
techniques that integrate the personal training
and physical therapy regimen in order to achieve
a complete therapy. Visit DMC Athletics and
Rehabilitation at www.dmcrehab.com or call
973.984.0200.
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Towns spur growth (Continued from page 1)
Madison recently attracted Reology
Corp. and Prudential Real Estate Investors.
“Both were Parsippany-based,” Conley
said. “They chose to stay in Morris County.
Their employee base already was in
Morris County (and) they found a perfect
location.”
Madison has someone dedicated to
economic development, assistant borough
administrator Jim Burnet. The borough also
created the Chief Executive Council for
Madison, a collection of CEOs who live in
town, the mayor and representatives from
local colleges, the county chamber and the
Dodge Foundation. The council focuses
on mentoring, economic development and
Manufacturer PNY recently moved to
Jefferson Road, where they are neighbors
of Evonik Degussa Corporation, which
opened an administrative center there.
Manal Abeskaron
Branch Manager
973.301.1760
Nearby, Ferring Pharmaceuticals is
developing a 25-acre site on Interpace
Parkway; The Medicines Company is
expanding its facility on Sylvan Way;
Wyndham Worldwide built a new LEEDcertified global headquarters and is
constructing an adjacent building, also
on Sylvan Way; and Solix expanded its
headquarters at Lanidex Plaza West.
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In addition, Whole Foods is interested in
opening a market in Parsippany.
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“(Businesses) have a downtown that
really can support their employees,” he
said. “They don’t want to be isolated on a
corporate campus.”
The Madison Office is a full
service branch that offers:
The township works closely with
developers and commercial real
estate brokers and agents trying to fill
vacancies, companies already located in
Parsippany and those considering moving
to the township, according to Mayor
James Barberio. The results have been
impressive.
.
Next door in Madison the draw for
businesses includes proximity to a town
center and rail station and cultural
attractions such as the Shakespeare
Theater, Drew University and restaurants,
according to Mayor Robert Conley.
With 73 branch locations spread throughout 15 counties
across New Jersey, it’s the newest location that comes with
Fulton Bank of New Jersey’s commitment to the community.
AV
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“You have to do what you think is the
right thing to do,” he said. “You’re always
going to have pushback. You just have
to have the fortitude to know that what
you’re doing is the right thing for the
community.”
Our Madison Office is now open!
Parsippany offers businesses an ideal
combination of location – the township
sits at the intersection of several major
highways – the second-largest inventory
of Class A office space in Northern New
Jersey and a quality of life that ranked
16th among best small cities in Money
magazine’s 2012 list of best places to live.
L
Flexibility in planning and a willingness
to rezone properties also is essential
to successful economic development,
according to Eveland.
“We going to be looking at everything
to tweak the overall plan to make it more
enticing,” he said.
A
“We had to work very hard with ASCO
within a very limited timeframe, in that
they had to have (approved) site plans to
qualify for state funding,” he said.
A new location is
just the beginning!
TR
ASCO was an example of collaboration,
as the company’s parent wanted a quick
resolution and ASCO needed to move
quickly to qualify for $24.5 million in
Grow New Jersey Assistance Program tax
credits, according to Bill Huyler, borough
administrator.
Madison also is flexible in its approach to
economic development, including rezoning
where it works, according to Conley.
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“We’re hoping that these things
are going to be a catalyst for more,”
Eveland said.
sharing ideas.
CE
Recent results include Zoetis, Pfizer’s
new animal health subsidiary, choosing
Florham Park for its new headquarters and
ASCO Power Technologies opting to stay
in the township.
Drive up Hours:
Mon-Fri 8am - 6pm
Sat
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As with Florham Park and Madison, keys
to this success include responsiveness and
flexibility.
“When a company wants to come to
Parsippany I make sure they have access
to my director of zoning and planning to
make sure they get the proper zoning
and permitting in a timely manner,”
Barberio said.
Barberio also holds roundtables with
commercial real estate brokers and
developers – for example, he was able
to connect a developer with the state
Department of Transportation to address a
traffic issue – and works very closely with
the Morris County Economic Development
Corporation, he said.
Madison office
18 Elmer Street l Madison
973.301.1760 l fultonbanknj.com
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Award-winning developments reflect success of collaboration
(Continued from page 1)
program and $21 million through the
Business Employment Incentive Program.
Brown said her authority has been very
active in Morris County.
The authority recently announced
$40 million in aid to help Honeywell
International relocate its world
headquarters from Morris Township to
Morris Plains. The NJEDA had previously
approved the funding to help Honeywell
redevelop its Morris Township site.
Automatic Switch Co. of Parsippany
was given $44 million to redevelop its
Parsippany site to retain jobs and The
Seeing Eye, the nonprofit agency that
trains dogs as companions for the blind,
was granted $19 million for the renovation
and expansion of its Morris Township site,
according to Brown.
Two Mount Olive projects also received
NJEDA support, she added.
Siemens HealthCare was approved for a
$36 million grant to renovate and expand
its facility into a center of excellence,
potentially creating 525 jobs, and Robertet,
a fragrance manufacturer, was approved
for a $10 million grant for an expansion that
could add 30 jobs and retain 100 more,
Brown said.
Brown, who served in the U.S Attorney’s
Office for 18 years and was most recently
appointments counsel to Christie, was
named to her NJEDA post in November.
She told the audience the agency, along
with ChooseNJ and the Business Action
Center, has helped bring 4,800 new jobs
to the state and helped retain more than
10,000 jobs.
Through careful funding, the authority
has been able to leverage $1.14 billion in
private capital to support New Jersey’s
businesses, she said.
“Our mission is to help the state grow,”
Brown said. “We are your economic
development partner.”
The authority also seeks to assist small
businesses and start-ups, she said. Such
programs as business incubators help
people with ideas get their companies off
the ground by offering space, mentoring in
business operations and workforce training.
The next big task for the authority, she
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said, is helping the state recover from
Hurricane Sandy. The authority is working
with agencies such as the Department of
Housing and Urban Development and the
state Department of Community Affairs
to apply about $1.8 billion in disaster aid
targeted so far to help the state rebuild.
Locally, to be successful MCEDC
relies on contacts with the municipal and
business leaders in the county, according to
Jones, the organization’s executive director.
MCEDC was a key to completing the sale.
More recently the MCEDC has
scheduled two meetings with local elected
officials to discuss key issues and explain
programs that could benefit their towns,
including planning and customer service,
Jones said. One key topic will be ways
to address the high number of office
vacancies, he added.
In coordination with the Morris County
freeholders and chamber president Paul
Boudreau, the MCEDC continues its
business-to-business initiative that centers
on meetings with top executives at local
companies to discuss their concerns and
what the chamber and county government
can do for them, Jones explained.
To assist businesses seeking to learn
about the county the MCEDC maintains
a deep databank of information on the
demographics and benefits of doing
business here, Jones told the audience.
He said the agency also is working with
the Morris County Planning Department
to take advantage of that department’s
geographic information system, another
key data source.
It was in one such session two years ago
that Honeywell informed the freeholders it
was considering a move to another state,
triggering the state’s efforts to retain the
corporation. In addition, John Sclip, who
helped bring Uncommon Carrier to Mount
Olive, said the cooperative effort of the
The plans include creating an economic
planning overlay of the entire county that
could be shown under a federal program
to “well-financed foreign investors” and
which would target large vacant foreclosed
properties suitable for investment, Jones
said.
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The Cutting Edge ...
A tale of two economies
Several of our Fortune 500 member companies have made major commitments to
Morris County in terms of job retention and capital investment.
On March 7 I had the opportunity to tour the former Biomet facility in Parsippany,
now owned by Ferring Pharmaceuticals, with Lt. Gov. Kim Guadagno, Parsippany
Mayor Jamie Barberio, Freeholder Tom Mastrangelo and Aaron Graff, CEO of
Ferring.
Graff and his team took us on a walking tour of the property they purchased from Biomet on
Interpace Parkway. They are beginning a $150 million renovation of the property that will call for up to
800 construction workers and ultimately 200 additional full-time employees. The project includes new
offices and additional space for manufacturing and packaging.
Bayer HealthCare is completing their renovation of the Alcatel Lucent property in Whippany and
they will consolidate about 3,000 employees into this location in the fall of this year.
Zoetis, formerly Pfizer’s animal health business, announced recently they will move their 385
employees to Campus Drive in Florham Park. The new company had a successful IPO in February.
Pfizer also announced that its Consumer Products Division is looking at new space in the area and those
jobs will remain in New Jersey. The remaining Pfizer jobs at Giralda Farms in Madison will relocate to
Peapack Gladstone.
All good news for New Jersey.
Honeywell’s decision to move their headquarters to Morris Plains means we will retain another 1,200
jobs in Morris County. Automatic Switch Company in Florham Park will consolidate their footprint in
Florham Park and retain jobs in our community. All these commitments are positive for Morris County.
But there are two sides to this economic development and jobs coin in Morris County. Smaller
businesses continue to suffer in what is a “low demand” economy for them. Although they have seen
improvements since the dark days of 2009, poor sales continue to be a major factor in their efforts to
recover from the “great recession.”
Their sales peaks are higher but they continue to experience troughs in demand from month to
month. Without the visibility of future demand, most small business owners are reluctant to hire
new employees. Additionally, under the Affordable Care Act companies are being measured by the
federal government beginning this year to determine their average full-time employees for purposes
of compliance with health insurance mandates. In this environment the traditional job-creating engine
we call small business is stalled.
Some of our smaller companies are helping their bottom lines by merging with others. As one of our
members commented to me, “We’re all working harder for less. The economy is better than a few
years ago but we’re not hitting any home runs.”
The National Federation of Independent Business recently surveyed their 350,000 members and found
that their Small Business Confidence Index continues to lag both the 1991-92 and 2001-02 recession
levels. Three-quarters of businesses responding said they expect business conditions to be the same
or worse in six months.
Demand for credit remains weak, with 51 percent of business owners saying they did not want a
loan. If you recall back just a few years ago, some argued that banks did not want to make loans. At this
point in the economic cycle banks want to lend but don’t have as many customers as they would like.
Major ongoing concerns for small businesses include taxes, government regulations and the continued
uncertainty coming out of Washington.
In this tale of two economies the larger companies are moving in the right direction while the smaller
ones are lagging. For a balanced economic recovery we need both to flourish.
Paul Boudreau President Morris County Chamber of Commerce
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Government Affairs...
Governor’s budget address highlights economic growth
and recovery from Sandy
By Alan Zakin
As he enters his re-election year, Gov. Christie
gave his annual budget address while our state
is in the midst of the recovery effort from
Hurricane Sandy. The governor proposed a
$32.9 billion budget that continues to phase in
bipartisan business tax reforms that will save
businesses an additional $213 million. The
governor also proposed creating a $40 million
state Sandy contingency fund and a pilot program
for a privately funded school voucher program.
According to Christie, “We have done the
hard work to get where we are today, to fund
what matters, while at the same time finally
providing long overdue tax relief.”
The governor said tax cuts are necessary to
continue to grow the state’s economy. New
Jersey has added about 50,000 private-sector
jobs since Christie took office.
Any job growth for New Jersey has to start
with cutting taxes,” Christie said. “We are in a
competition for jobs with other states.”
Christie noted that even with some additional
spending, his proposed budget remains lower
than in the year before he took office.
One key tax reform contained within the
budget proposal would enable businesses that
pay income taxes or corporate taxes to carry
forward net losses for up to 20 years. The
budget also would maintain the full funding for
both the R&D Tax Credit and the Technology
Business Tax Certificate Transfer Program. In
another effort to benefit our economy, the
budget would eliminate an approximately 4
percent tax on energy bills that was supposed
to be temporary.
In an effort to move forward education
reform, the governor also proposed a school
choice pilot program. This initiative would allow
businesses to dedicate a portion of their taxes to
a fund that would provide vouchers for students
in the worst performing schools to attend other
schools which provide greater educational
opportunities.
The governor lauded the 2 percent cap on
local tax increases and said he would maintain,
but not increase, existing property tax relief
programs. Democrats, in contrast, have pushed
for property tax cuts over income tax cuts.
Tax collections in the current budget are
running about 3 percent above the same point
last year, according to the state’s most recent
tax collection data. The governor expects
revenue collections to increase by more than 7
percent for the budget year that begins July 1.
Christie’s budget also would pay for a $121
million increase in formula aid to schools, with
the expectation that most districts would see
some increase. Higher education funding,
including college and student aid, would
increase by more than $100 million.
The proposal also includes a $1.1 billion
payment into the state’s underfunded state
pension system. The payment would more
than double what New Jersey is paying into the
system in the current budget.
The new budget does not increase
Homestead property tax relief and will leave
$300 million in a surplus fund. Instead of mailing
out property tax rebate checks, a method
preferred by prior governors, Christie would
fund Homestead for property owners who
meet eligibility requirements. Funding for the
senior-freeze property tax relief program would
be static.
The budget must be approved by the
Legislature and signed by Christie before July 1.
The first phase of Christie’s income tax cut also
requires legislative approval.
The Morris County Chamber of Commerce
Government Affairs Committee meets
regularly with opinion leaders and decision
makers. We issue position papers on key
government initiatives that advance the agenda
of the business community and make periodic
suggestions to reduce government inefficiency
and increase business growth. Please join us.
Alan J. Zakin, Esq. is chairman of the Morris County Chamber of Commerce Government Affairs
Committee. He is principal of Alan Zakin Associates, marketing, community relations and government
affairs, Florham Park, NJ, and can be reached at 973-966-5544 or Alan@AlanZakin.com.
Publisher: Paul Boudreau
Editor: Chris Reardon
Director of Advertising: Joanne Vero
Director of Graphics: John Tirpak
325 Columbia Turnpike, Florham Park, NJ 07932
Telephone: (973) 539-3882 Fax: (973) 377-0859
www.morrischamber.org
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In the Trenches
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If you change they will come
By Michael Daigle
Here’s the dilemma: Morris County has the
envious advantage of location that in the past
has drawn corporations to its many office
parks, boosting the county’s economy. It also
has a high quality of life, good schools, an
educated workforce and historic wealth.
So why is 21 percent of the county’s
commercial real estate vacant?
That was the question staring down
Jim Jones in November when he became
executive director of the Morris County
Economic Development Corp. (MCEDC),
the affiliate of the Morris County Chamber
of Commerce charged with attracting and
retaining businesses.
Jones has nearly 40 years of experience
with real estate site acquisition, land
development and redevelopment, property
management and real estate marketing. Most
recently he served as a partner in Morris
Plains-based Commercial Realty Group.
jobs lost since 2008 by attracting new
businesses to relocate here from outside the
county and to work with our municipalities
to retain the businesses already prospering in
Morris County,” Jones said.
local officials about how these changes
will affect their towns and the job base,
according to Jones. To make these empty and
underutilized spaces productive again towns
will need to consider rezoning for more
modern uses, he said.
He identifies some main concerns: the
age of the county’s office infrastructure;
its location, chiefly in large highway-based,
suburban office parks; and the reluctance
of municipal officials to make changes that
would benefit reuse of vacant space.
Local officials should examine how to
encourage mixed-use development in existing
office parks. Bringing in a mix of residential
and retail would make these office-only
parks more attractive to new investors. The
buildings might need renovations, Jones said,
but the office parks already have some key
attributes: public water and sewer systems
and parking.
About 80 percent of Morris County’s
office infrastructure was built in the 1980s,
according to Jones. It is more than 30 years
old and spatially and energy inefficient.
That hands-on real estate experience
makes Jones qualified to head the MCEDC,
Paul Boudreau, chamber president, said when
Jones took over the agency in November.
Companies are seeking to lower
operational costs as they redevelop or build
new facilities, Jones said. Corporations also
are seeking to hire younger workers who
have expressed more desire to live in urban
areas, or urban-like settings in suburbs
with public transportation and walkable
restaurants, health clubs and entertainment
spots. Hoboken and Jersey City are good
examples, he said.
“My first priority will be to recover the
Confronting that reality requires educating
Member Perspective
These are not concepts Jones made out of
whole cloth, he said. In meeting after meeting
with corporations interested in Morris
County, executives mention the need for
affordable housing in a setting that will help
attract the workers they need.
Jones acknowledged this type of change
has been a tough sell in the past. Municipal
leaders are adverse to housing development
because of school costs and growth that
brings traffic has been questioned.
But the time has come for action, he said.
MCEDC will expand its database of the
county’s business and public community
and with the county planning department
is developing a geographical information
tool that will be able to show companies
the physical and demographic assets of
the county. Further, the database will be
matched with a state tool that will highlight
the regional innovation clusters described
in the recent rewrite of the state plan. Such
clusters focus on the close proximity of
industries. Morris County can tout its large
bio-pharmaceutical community, Jones said.
The agency also will pursue designation as
a regional center under the federal immigrant
investor program, which aims to lure foreign
investment in exchange for granting the
investor a permanent visa.
The program has been in existence since
1990 and in the past three years brought $1
billion in foreign investment to the United
States, according to Jones.
The county designation would be placed
in the context of the North Jersey region to
present a broader picture for investors.
Office availability rates – is 25 percent the new normal?
By Tom Semler
The overall availability rate for office properties
(all classes) in Morris County is currently in
excess of 28 percent. A historical view of
availability rates reveals a gradual but consistent
increase over the past two decades.
Despite minimal speculative construction
added to the office inventory over the past 10
years, availabilities have reached historic levels
in Morris County. Is it reasonable to expect an
eventual adjustment and return to equilibrium
levels of availability rates below 20 percent? Or
is 25 percent the new normal?
Morris County is certainly not alone. Most
suburban markets nationwide continue to
experience soft demand and high availability
rates as businesses seek to increase the
utilization rate of their facilities and downsize
their foot print. Leased space sizes have been
shrinking and the average square foot-perworker has fallen considerably across most
industry groups.
There are a number of factors contributing
to downward pressure on office demand,
including:
• An uncertain economic environment.
• Corporate budgetary pressure to reduce
occupancy costs (downsizing).
• Technological advancements that now make
it feasible to work effectively from a remote
location (telecommuting).
• A next-generation workforce that is more
accepting of non-dedicated office spaces
(sharing).
• Alternative office environments, including
furniture systems that encourage
collaboration while reducing underutilized
spaces.
• Shifting corporate cultures with an
increasing number of employers supportive
of telecommuting and group workspace
configurations.
• A decreased need to provide space for
“old style” items such as books, filing
cabinets, reception areas, fax machines, etc.
leases roll, oftentimes with little or no impact on
the county’s availability rates.
Corporations such as BASF, Realogy, Biomet,
Bayer, Honeywell, Pfizer and Pinnacle have
recently announced or completed major real
estate transactions in Morris County that
involve millions of square feet. For the most
part, these consolidations/relocations involve
companies that already have a presence in the
county. Although retention of these businesses
is critical, these relocations involve vacating
existing space and will not necessarily result in
an overall net absorption and reduction in the
available space inventory.
Morris County maintains a competitive
position in attracting and retaining business.
It is considered a premier office environment
given its robust highway network, quality of life,
amenity base, extensive park system, educated
labor force and established business community.
When the commercial base of Morris County
was expanding dramatically in the boom years
of the ‘80s and ‘90s, many of the businesses
filling the newly constructed speculative
office buildings were relocating from outside
the county – usually from the east. With the
substantial growth of the Morris County
business community, today’s office market is
more mature and self-sufficient. Many of the
newer transactions involve successful local
operations that play “musical chairs” as their
The best located office developments
that provide a flexible environment suited to
the needs of tomorrow’s businesses should
continue to attract quality tenants from both
inside and outside the county. There are
currently several major corporations from other
parts of New Jersey considering a relocation of
major office operations to some of these “Class
7
A” properties.
The lesser quality developments should
continue to find the market challenging.
Successful developers may adapt to trends in
the usage of office space by reconfiguring older
properties with additional parking, enhanced
energy efficiency, utilization of “green” materials
and expanded amenity packages.
Other secondary office projects may be ripe
for redevelopment as alternative uses, such
as residential, medical, retail, governmental,
educational, recreational or religious.
Alternative-use redevelopment of obsolete
product will become a major focus of proactive
developers working in conjunction with
progressive municipal officials.
The decreased demand for office space
is expected to continue for some time, with
availability rates remaining high for the near
term. As the economy improves, rates should
gradually decrease but are not likely to return to
the historic lows of the ‘90s. Given the current
dynamics of the office market, 20 percent may
be the new 15 percent.
Thomas Semler is senior vice president at Avison
Young. He can be reached at 973.753.1107 or
tom.semler@avisonyoung.com.
M orris
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Accounting and Consulting
Citrin Cooperman
290 W. Mt. Pleasant Ave., Suite 3210, Livingston, NJ 07039
Phone: Sharon Zsoldos, 973-218-0500
Fax: 973-218-7154
www.citrincooperman.com
We are a tax, accounting and consulting firm
helping entrepreneurs find smart solutions. We’ll help examine your financial
structure, providing new perspectives to help you succeed.
Giordano Cohen Fastiggi Luciano and Company, PA
147 Columbia Turnpike, Suite 100 Florham Park, NJ 07932
Phone: Fred Bachmann, 973-377-2009
Fax: 973-377-5335
Focused, personal attention to meeting the tax and accounting
needs of small businesses and their owners.
Hunter Group CPA LLC
17-17 Route 208, Fair Lawn, NJ 07410
Phone: Larry Feld, 201-261-4030
Fax: 201-261-8588
www.TheHunterGroup.com
Hunter Group CPA LLC helps businesses fulfill their lifelong business and
personal financial goals. From tax planning and auditing to consulting, closely
held businesses trust Hunter’s advice.
KPMG LLP
150 John F Kennedy Parkway, Short Hills, NJ 07078
Phone: Scot Guempel, 973-912-6208
Fax: 973-215-2928
sguempel@kpmg.com
KPMG LLP, the audit, tax and advisory firm, has 140,000 professionals in 146
countries. KPMG has three offices in New Jersey: Short Hills, Princeton and
Montvale, with over 2,000 employees.
PricewaterhouseCoopers LLP
P.O. Box 988, 400 Campus Drive, Florham Park, NJ 07932
Phone: B.J. Agugliaro, 973-236-4000
www.pwc.com
Through PwC’s global network of firms, including
1,200 people in New Jersey, we provide assurance,
tax and advisory services to many of the world’s most successful companies.
Ross, Rosenthal & Company, LLP
87 Washington Street, Morristown, NJ 07960
Phone: Joseph C. Graff, 973-538-7071
www.rossrosenthal.com
CPA firm serving the region from Morristown for 60 years.
Trusted advisors to business entrepreneurs, professionals
and executives. Audit, tax, litigation, and valuation services.
WithumSmith+Brown, Certified Public Accountants and Consultants
465 South Street, Suite 200, Morristown, NJ 07960
Phone: Thomas A. Basilo, 973-898-9494
Fax: 973-532-8812 www.withum.com
Full-service regional public accounting and consulting
firm serving public and privately held businesses in over a dozen major
industries. Ranked a Top 10 firm in NJ and Top 40 in the U.S.
Architects/Engineers
H2M Architects + Engineers
119 Cherry Hill Road, Suite 200, Parsippany, NJ 07054
Phone: Sui Y. Leong, 862-207-5900
Fax: 973-334-0507 www.h2m.com
H2M provides architectural, engineering and environmental
testing laboratory services for both the private and public sectors
in New Jersey, Long Island and the Tri-State Areas.
Attorneys
Bressler, Amery & Ross, P.C.
325 Columbia Turnpike
Suite 301, Florham Park, NJ 07932
Phone: Michael T. Hensley, 973-514-1200
Fax: 973-514-1660 www. bressler.com
Bressler, Amery & Ross, P.C. provides results-oriented, cost-effective legal services
to Fortune 500 corporations, privately held companies, brokerage firms, banks,
franchises, insurance companies, non-profit institutions and individuals.
Resnick Law Group, P.C.
5 Becker Farm Road, 4th Floor, Roseland, NJ 07068
Phone: Gerald Jay Resnick, 973-781-1204
Fax: 973-781-1205 www.thenjemploymentlawfirm.com
Employment law firm serving NJ and NY employees in workplace disputes against
their employers, including matters involving wrongful termination, harassment,
discrimination, retaliation, wage and hour, employment contracts, non-compete
agreements, and more.
Attorneys
(continued)
Riker Danzig Scherer Hyland & Perretti LLP
One Speedwell Avenue
P.O. Box 1981, Morristown, New Jersey 07962
Phone: Glenn A. Clark, 973-538-0800 www.riker.com
Strong practices in litigation, insurance law, corporate law,
bankruptcy, employment law, public utilities, environmental
law, real estate, tax and trusts & estates and governmental affairs.
Schenck, Price, Smith & King, LLP
220 Park Avenue, PO Box 991, Florham Park, NJ 07932
Phone: Edward W. Ahart, 973-539-1000
Fax: 973-540-7300 www.spsk.com
Schenck, Price, Smith & King, LLP is a full-service law firm
located in northern New Jersey, whose attorneys serve businesses and
individual clients throughout the state and region.
Banks/Credit Unions
Fulton Bank of New Jersey
(See our ad on page 3)
425 Main Street, Chester, NJ 07930
Phone: Dan Marcmann, 908-955-8111
Fax: 908-879-5535 www.fultonbanknj.com
Fulton Bank of New Jersey, with its regional headquarters in Chester, NJ,
provides an array of financial services to customers throughout the state of NJ
with 73 conveniently located branches and ATM’s.
Garden Savings Federal Credit Union (See our ad on page 9)
129 Littleton Road, Parsippany NJ 07054
Phone: Michael Powers, Chief Sales Officer
Phone: 973-576-2000 Fax: 973-316-0317
www.GardenSavings.org
Garden Savings is a full-service financial institution headquartered in
Parsippany, NJ. Enhance your employee benefits by providing credit union
services from Garden Savings.
The Provident Bank (See our ad on page 4)
Administrative Offices
100 Wood Avenue South, Iselin, NJ 08830
Phone: 1.800.448.PROV www.ProvidentNJ.com
Provident offers a full suite of financial products for
businesses of all sizes with 75+ convenient branches, online
banking, cash management and customized lending solutions.
XCEL Federal Credit Union (See our ad on page 11)
1460 Broad Street, Bloomfield, NJ 07003
Phone: Tom Quigley, 800-284-8663 x3041
Fax: 201-714-5741 www.XCELfcu.org
XCEL Federal Credit Union was founded in 1964 by the
employees of the NY/NJ Port Authority. Today, ANY local
company can join—and it’s FREE. Call today 201-499-1656
Branding and Marketing
Trajectory
20 Community Place, Morristown, NJ 07960
Phone: Tom Moleta, 973-292-1400, ext 214
Fax: 973-292-8580 www.trajectory4brands.com
A branding and marketing agency that creates New Brand Energy, building
new customer value and igniting business growth for health care, well-being
and healthy lifestyle clients.
Business Process Outsourcing
Solix, Inc.
30 Lanidex Plaza West
P.O. Box 685, Parsippany, NJ 07054
Phone: 800-200-0818 corpcomm@solixinc.com www.solixinc.com
Smart, cost-effective and compliant outsourcing solutions including
eligibility determination, qualification program management and customer
care services for government, telecommunications, broadband, utility and
healthcare organizations.
Electronics Recycling
Donjon Electronics Recycling
ELECTRONICS RECYCLING
106 Richards Ave, Dover, NJ 07801
Electronic Scrap Recycling Solutions
Nicole Saft: 973-620-9754
Fax: 973-620-9757 www.donjonrecycling.com
Conveniently located in Dover, NJ. With over 50 years of experience, Donjon
Electronics Recycling offers Data Destruction and Electronics Recycling
Solutions to residents and businesses.
Employee Benefits - Insurance
Block Vision
325 Columbia Tpke., Suite 303, Florham Park, NJ 07932
Phone: Stacey Fiorina, 866-246-9589 Fax: 866-246-9590 www.blockvision.com
Managing vision benefits for more than 20 years,
Block Vision offers a complete line of benefit designs and vision plan options.
Broad Reach Benefits, Inc.
30 Cook Plaza Suite 200, P.O. Box 545, Madison, NJ 07940
Phone: Philip Cohen, 973-377-8222
Fax: 973-377-8334 www.BroadReachBenefits.com
Good advice is at a premium in today’s economy. See what
you’re not getting from your current employee benefits broker. You’ll be surprised!
Financial Services
MACRO Consulting Group
1639 Route 10 East, First Floor, Parsippany, NJ 07054
Phone: Heidi Heath, 973-451-9400
Fax: 973-451-9401
www.macroconsultinggroup.com
Retirement planning, wealth distribution, pension/401(k) distribution, portfolio
review, charitable giving, long-term care planning and investment management.
Each client receives unsurpassed personal and professional attention.
Stifel, Nicolaus & Company, Inc.
18 Columbia Turnpike, Florham Park NJ 07932
Phone: Mark Serby, 973-549-4150
Fax: 973-549-4184 www.stifel.com
Stifel Nicolaus, one of the nation’s premier
brokerage and investment banking firms, provides
brokerage, trading, investment advice and financial services to individuals and
institutional investors.
Higher Education/University
Centenary College School of Professional Studies (See ad page 10)
300 Littleton Road, Parsippany, NJ 07054
Phone: Donna Williams, 973-257-5190
Fax: 973-257-8960 www.centenarycollege.edu/mccc
Convenient, flexible, accelerated business degree
programs for working and professional adults. On-ground, online and blended
delivery available with classes starting several times a year for immediate
program entry. Locations in Parsippany, Edison and Hackettstown.
Fairleigh Dickinson University (See our ad on page 2)
285 Madison Avenue, M-R10-01
Madison, NJ 07940
Phone: Susan Brooman, 973-443-8905 grad@fdu.edu / www.fdu.edu/grad
More than 60 doctoral, masters & graduate certificates on campus, off-site &
online. New: Saturday MBA@FDU (blended MBA is less than 21 months);
New & fully online: Communicating for Professional Success and
Gaming Development & Programming.
The College of Saint Elizabeth
2 Convent Road, Morristown, NJ 07960-6989
Phone: Donna Tatarka, 800-210-790
Fax: 973-290-4710 www.cse.edu
Established in 1899, the College of Saint Elizabeth enrolls more than
2,100 full- and part-time students, both men and women, in more than
25 undergraduate, 10 graduate and one doctoral degree programs.
Country Club
Basking Ridge Country Club
185 Madisonville Road, Basking Ridge, NJ 07920
Phone: Kelly Pantone, 908-766-8200 x116
Fax: 908-953-8097 www.baskingridgecc.com
Basking Ridge Country Club is a private, family-oriented golf
and swim club. Affordable membership opportunities are
available that do not require a bond or initiation fee.
Insurance
Gerrity, Baker, Williams Inc.
(See our ad on the back cover
3 Gold Mine Road, Flanders, NJ 07836
Phone: Glenn K. Tippy, 800-548-2329
Fax: 973-426-9546
www.GBWinsurance.com
GBW Insurance works with small and mid-size businesses and their owners,
using risk management and insurance products to protect them.
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Real Estate
Plymouth Rock
1 Madison Avenue, Suite W-105
Morristown, NJ 07960
Phone: John E. Hickey, 973-267-4970
Fax: 973-267-4876 www.prudential.com/us/j.hickey
As a financial professional with 21 years of experience, I am licensed to offer
life, health, long-term care, auto and home insurance.
Technology Solutions
Mack-Cali Realty Corporation
343 Thornall Street, 8th Floor, Edison, NJ 08837
Phone: Diane Chayes, 732-590-1000
Fax: 732-205-8237 www.mack-cali.com
Mack-Cali Realty Corporation is among the country’s largest real estate
investment trusts (REITs). Mack-Cali owns and manages premier office
buildings and multi-family communities throughout the northeast.
Schools
Personnel Services
Prime Time Personnel
129 Littleton Road, Parsippany, NJ 07054
Phone: Laura DeRose, 973-334-9600
Fax: 973-334-5175 www.primetimepersonnel.com
Prime Time Personnel provides professional staffing services on a temporary,
temporary to hire, and direct hire basis in Office Support, Management, HR,
Marketing, Accounting/Finance, and Technical.
Morris County Vocational School District
400 East Main Street, Denville, NJ 07834
Phone: Gina DiDomenico, 973-627-4600 ext. 277
Fax: 973-627-6979 www.mcvts.org
Programs for Morris County high school students, including
career academies, share time programs and share time programs
for special needs students, and adult education programs.
Schools; Special
Physical Therapy
DMC Athletics & Rehabilitation
(See our column on page 2)
15A Saddle Rd., Cedar Knolls, NJ 07927
Phone: 973-984-0200
Fax: 973-984-0210
www.dmcrehab.com
DMC Rehab has been voted the #1 Physical
Therapy and Fitness Facility of Morris County 2006-2011.
All insurance plans accepted.
Montgomery Academy 188 Mount Airy Road, Basking Ridge, NJ 07920
Phone: Anthony Gebbia, Principal, 908-766-0362
Fax: 908-766-0936
www.montgomeryacademyonline.org
For over 40 years, Montgomery Academy has served
students ages 5 - 21 with special needs not met in conventional
public school settings. Montgomery Academy - Where You Can Be Yourself!
Senior Care Services/Home Care
Public Relations Agency
Communications Strategies, Inc.
135 Main Street, Madison, NJ 07940
Phone: 973-635-6669
Fax: 973-635-9419 www.cstratinc.com
CSI is a woman-owned, integrated marketing firm
specializing in brand strategy and positioning, media
relations, coalition building and advocacy development,
event management, crisis management and public education campaigns.
Synergy HomeCare
115 US Highway 46 West
Building F, Mountain Lakes, NJ 07046
Phone: Antonio Podias, 973-394-5638
Fax: 888-860-8275 www.synergyhomecare.com
Caring for your aging parent or family member can be
exhausting, lonely work – but you are not alone. Synergy
HomeCare is an affordable, compassionate choice for family caregivers and our attentive, dependable careTEAM can offer comfort and relief.
Enhance Your Employee Benefits
Package At Absolutely No Cost!
Micro Strategies, Inc.
85 Bloomfield Avenue, Denville, NJ 07834
Phone: Susan Angelo, 973-625-7721
Fax: 973-328-1248
www.microstrat.com
Micro Strategies is at the forefront of architecting
and implementing quality technology solutions centered in the following
areas: System Analysis, Infrastructure, Content Management, Database
Application Development, Security, Remediation and Digital Voice Recording.
Utility
New Jersey Natural Gas
P.O. Box 1464, 1415 Wyckoff Road, Wall, NJ 07719
Phone: 732-938-1000
www.njng.com
New Jersey Natural Gas serves nearly half-a-million
customers in Monmouth, Ocean, Middlesex and Morris counties, meeting
customers’ expectations for value and reliability every day.
Web Design/Social Media Mgmt.
BetterBizWorks, LLC 59 Beaverbrook Rd., Suite 201D
Lincoln Park, NJ 07035
Phone: Kenneth Hardaker, 800-820-2077
Fax: 973-696-0265 www.betterbizworks.com
BetterBizWorks strives to find innovative ways to market your business online.
Our goal is to make your web presence an income stream, not an expense.
Wireless Communications
Communications Service Integrators
45 Perry Street, Chester, NJ 07930
Phone: Sandy Drysdale, 908-879-2525
Fax: 908-879-2322 www.csiradio.com
Communications Service Integrators provides an integration of the most progressive communications technology available in the industry— two-way radio,
wireless network, system design, system consultation, FCC assistance for on-site
facilities communications as well as wide area communications coverage.
DONAHUE, HAGAN, KLEIN & WEISBERG, LLC
ATTORNEYS AT LAW
Practice Limited to Family Law Matters
44 WHIPPANY ROAD, SUITE 108A
MORRISTOWN, NJ 07960
FRANCIS W. DONAHUE
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ALYSSA ENGLEBERG
SANDRA H. STARR
ALEX M. MILLER
MICHAEL P. GERRITY
TELEPHONE: (973) 467-5556
FACSIMILE: (973) 467-0636
www.familylawattorneysnj.com
firm@familylawattorneysnj.com
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Specializing in family and matrimonial law.
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Edge into Small Businesses...
BROWN
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Office: 973-538-2500
Fax: 973-538-2542
Cell: 973-960-1480
vanessabrown@berhomes.org
www.berhomes.org
31 South St., Suite 211
Morristown, NJ 07960
RESIDENTIAL & COMMERCIAL
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Barry Meister MBA, CPC, ICF
Business Coach
908-277-3453
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barry@enhancedbusinesscoaching.com
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THE STICKLEY MUSEUM
AT CRAFTSMAN FARMS
A NATIONAL HISTORIC LANDMARK
2352 Rt. 10 W., Morris Plains, NJ 07950
Voice: 973.540.0311 fax: 973.540.1167
info@StickleyMuseum.Org
StickleyMuseum.Org
The country estate of internationally known home designer, Gustav
Stickley, offering year round tours, lectures, and family programs.
NATIONWIDE UNLIMITED
4G DATA FOR YOUR BUSINESS
Contact us at nycsales@t-mobile.com
Edge into Small Businesses...
to place your business card in the
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t-mobile.com/smallbusiness
4G network not available everywhere. See T-Mobile.com for details.
MAKE 2013 YOUR YEAR
To join in and advertise in
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In Parsippany, Edison and Online. For more information
call 877-437-3746 or visit www.centenarycollege.edu/spsedge
ADULT-CENTERED DEGREE PROGRAMS
contact Joanne Vero at 732-303-5981
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Offer your
employees this
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e opportunity to join a credit union.
Higher dividends on savings accounts • Lower interest rates on loans • Very low fees
XCEL is a New Jersey-headquartered credit union that has been competently serving our members since 1964. We offer
outstanding rates on vehicle, home equity and mortgage loans. No minimum balance checking. Attractive rates on money
markets and certificates. See our complete product and rate listings at www.XCELfcu.org. We are members of a network
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Established in 1964. Originally located in the World Trade Center, now headquartered in Bloomfield, N.J.
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