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Wolf Commercial Real Estate announced Friday it has represented North American Title Co. in leasing a Class A office space in Mount Laurel.NATC selected the 5,000-square-foot space located in the Century Corporate Center at 200 Century Parkway “due to its excellent location off of Fellowship Road, Route 73 immediate access to I-295, the New Jersey Turnpike and convenient access to all points in southern New jersey and Philadelphia,” it said.
The office building is owned and operated by Needleman Management.
Leor Hemo, executive vice president of WCRE, represented the tenant in this transaction. Financial terms were not disclosed.
Tag: South Jersey
NJBIZ stories taking place in and involving South Jersey businesses, companies and business news.
Women have accomplished so much in politics so far Now, let’s make even more milestones
Hillary Clinton was the first female presidential nominee of a major political party in the United States.Hillary Clinton was the first female presidential nominee of a major political party in the United States.
Her defeat does not change the incredible magnitude of that accomplishment.
Neither does the success of Hammonton native Kellyanne Conway, the first woman in U.S. history to run a Republican general election presidential campaign.
‘Breaking Glass,’ regardless of results, is about jumping into the arena in the first place and saying, “I belong here just as much as he does.”
Here are the names of a few other women in the political arena who have done so this year, according to Self.com:
- Catherine Cortez Masto: the first Latina senator;
- Tammy Duckworth: the first female senator to have seen combat and the first Thai-American woman in Congress;
- Kamala Harris: the first Indian-American senator and the first woman and minority to have held the position of attorney general in California;
- Pramila Jayapal: the first Indian-American woman and the first person of South Asian descent to be elected to the House of Representatives;
- Stephanie Murphy: the first Vietnamese-American woman to get elected to Congress;
- Ilhan Omar: the first Somali-American Muslim female legislator in Minnesota;
- Kate Brown: the first openly LGBT elected governor in Oregon and in the U.S.
According to the Center for American Women and Politics at Rutgers University in New Brunswick, 104 women — 78 Democrats, 26 Republicans — will serve in the 115th Congress. And only one woman has won a gubernatorial race so far this year: incumbent Kate Brown (D-OR).
That means less than 20 percent of a legislature that governs a population that is 51 percent female will be women.
Let us all work collectively to change that. Here are some good places to start:
- Emerge New Jersey is the premier training program for Democratic women in 15 states.
- The New Jersey Federation of Republican Women encourages women to participate in the activities and goals of the Republican Party in both the state and nationwide.
- The Women’s Political Caucus of New Jersey is dedicated to increasing women’s participation in the political process, increasing the number of women in elected and appointed office, protecting reproductive freedom, and creating a women’s political power base to achieve equality for all women.
- The League of Women Voters of New Jersey advocates for certain legislation after careful study and consensus of their members.
Miami lawyers roll out litigation insurance in New Jersey
Justin Leto and Larry Bassuk were two trial attorneys in Miami when, from experience, they saw a need for a service: litigation insurance.So, the law partners created the first and only insurance solution for plaintiffs’ attorneys and litigants covering litigation costs in the event of a trial loss in the nation.
It’s now available in New Jersey, through their company Level Insurance.
“What we’re doing is expanding it across the country based on demand and New Jersey happened to have a significant demand, so we immediately expanded to New Jersey and now we’re in 10 states total,” Leto said.
The service was meant, specifically, to address the rising costs for litigation.
“Businesses that have to pay for litigation are experiencing a lot of pain because of rising litigation costs; in particular, the cost of e-discovery,” Bassuk said. “I know, as a commercial litigator, the costs of dealing with e-discovery are astronomical.
“It’s a seven-figure cost.”
Along with e-discovery, Litigation Cost Protection is available for most tort claims and contract actions, and provides reimbursement for out-of-pocket expenses paid to further the litigation, which includes expert witness fees, travel, court reporters, trial exhibits and courtroom technology and exhibits.
Coverage is currently available for eligible cases filed in all 50 state’s courts and in United States District Court cases in all 50 states.
Coverage limits range from $3,500 to $250,000, while policy premium (exclusive of taxes and fees) is always 7 percent of the total coverage amount regardless of the type of case.
“I can tell you New Jersey lawyers seem very excited about it,” Leto said. “And, as far as Jersey businesses are concerned, if they’re involved in high-stakes litigation and they have to pay lawyers both the fees and the costs, it makes a lot of sense for them to hedge a portion of that bet so their business can feel more comfortable about spending that kind of money.”
Christie unexpectedly takes Guadagno’s keynote speaking spot at League of Municipalities conference
As she has done in years past, Lt. Gov. Kim Guadagno was scheduled to give the keynote address Thursday afternoon at a luncheon on the third and final day of the annual New Jersey State League of Municipalities conference in Atlantic City.But Guadagno instead yielded the floor to Gov. Chris Christie, who surprisingly added the event to his public schedule the night before.
Late to the event, Christie showed up to offer remarks on his recent decision to sign a 23-cent-per-gallon gas tax increase in order to replenish the Transportation Trust Fund, a move that Guadagno, seated just three seats to the right of Christie, publicly opposed.
“My successor, whoever they are, will not have to worry about funding the Transportation Trust Fund,” said Christie.
Christie added to Guadagno that, while unpopular, raising the gas tax was the right thing to do.
“It was time for real leaders to stop playing politics and make hard decisions,” Christie said.
The governor also talked up the recently passed ballot question that plans to dedicate all funds raised by the gas tax hike to the Transportation Trust Fund, saying that supporting the measure was one of the “difficult decisions” that “second-term governors are built to make.”
“I don’t have to pretend that it’s bad policy to dedicate a tax for the very purpose that the tax is paid for,” Christie said.
Guadagno, who is heavily rumored to be prepping for a gubernatorial bid and said Thursday that she will make a decision “after the holidays,” also publicly disagreed with Christie on the ballot question, saying that supporting it was the same as “a vote for the gas tax.”
Without naming Guadagno, Christie criticized opponents of the question for looking to “play politics.”
Throughout the week, conference-goers have speculated on the futures of both Christie and Guadagno, with many wondering if the governor will leave the state if tapped to serve in President-elect Donald Trump’s upcoming administration, leaving Guadagno to ascend to the office should Christie resign.
Christie said that, while he’s not sure about what the future holds, he currently has no plans to leave New Jersey.
“I have every intention of serving out my full time as governor,” Christie said.
Guadagno, who also publicly distanced herself from Christie on his support for Trump, whom she said she would not vote for, was asked by reporters following the speech if she felt Christie was speaking indirectly to her.
“Certainly, it’s a well-publicized disagreement that we have over parts of the gas tax,” Guadagno said. “I think he also said that he respected everyone’s difference of opinion.”
Guadagno added that, despite the unforeseen schedule change, she does still “fully intend to make the speech I wanted to today sometime in the very near future.”
“I’m going to give it to the appropriate people at the appropriate time,” Guadagno said. “I’m hoping that the mayors invite me to speak to them.”
She added that she thought Christie made a “fabulous speech.”
“It was a fabulous opportunity for the governor to talk to the municipalities and make his argument about the TTF,” Guadagno said.
South Jersey manufacturing report highlights cautious optimism
The Federal Reserve Bank of Philadelphia’s November Manufacturing Business Outlook Survey suggests that manufacturing activity in the region that includes South Jersey has continued to expand.This analysis comes as indexes for general activity, new orders and shipments all remained positive this month. Despite this, labor market conditions remained weak, the study said. As a result of this and higher prices, outlooks for the next six months — while remaining positive — were less optimistic than last month.
“Nearly 36 percent of the firms expect increases in activity over the next six months, lower than the 45 percent that expected increases last month,” the study said.
Similarly, firms reported an overall decrease in employment from October. According to the study, 20 percent of firms reported a decrease in employment in November compared with 18 percent in October.
The study also said the future employment index also fell 14 points, with 25 percent of the manufacturers saying they expect to expand employment over the next six months.
Thirteen percent plan to reduce employment.
Grapevine Notes and quotes from Day 2 of the League of Municipalities Conference
There were a lot of people in at the League of Municipalities convention in Atlantic City willing to talk about business and politics Wednesday — especially if it was without attribution, considering the nature of the subjects. Grapevine allowed them that vehicle.
Out of network
There is frustration among the health care provider community that in the debate of out of network, there isn’t a demand for fairer across-the-board rates and attention to coverage loopholes which leave patients vulnerable to high costs.
“We are waiting for out of network to get resolved first. Once it’s resolved, there are other things that can get attention, and can create better relationships for in-network providers.”
NJHA party
There were a few raised eyebrows for the party hosted Wednesday by the New Jersey Hospital Association, a first for the organization. In line with other firsts, attendees of the NJLM conference said it showed a shift in focus of issues in the state.
“There are so many issues now so I think they want to be front and center.” Said another source. “With the property tax issue, this seems like a good way to get the elected officials of the towns in the same place as the hospitals. Maybe nothing gets resolved overnight, but it’s a start.”
Presidential election and health care
Will there be — and should there be — changes to the ACA. It’s still to early to say, one insider said.
“So many more people in New Jersey are insured, I think we are down to the 9 percent range, but that means they are all showing up to the hospital insured. I think all of the charity are has gone down significantly. We had (prior to the ACA) coverage up to 31 (for children on their parents’ plan) forget 26, we had all the good stuff. Almost everyone was in one of the essential benefits plans, the only reason they were as cheap as they were was because they were based on gender, so a 29 year-old guy was cheaper than a 31 year-old woman because the woman can get pregnant. So we had an uninsured rate of 20 percent before the mandate. They also haven’t made any comments on the Medicaid expansion, so we don’t know what that’s going to look like.”
Question of the day: What does New Jersey need to do to grow business?
Response No. 1: “Regulation is one thing they talk about constantly. We don’t do a good job, when the regulations come, of looking at the impact on small businesses.”
Response No. 2: “New Jersey needs to make sure they have a governor who is willing to go around and listen to what the needs are of the various niche industries. Whether it’s the pharmacies, the lottery issue and how many people it affects, prison re-entry issues. In New Jersey we need to focus on re-training people.”
Response No. 3: “Streamline the business approval process. It takes too long now.”
Response No. 4: “Lower business tax and lower personal income tax. That will help.”
Response No. 5: “Elect Phil Murphy.”
Andrew George, Anjalee Khemlani and Tom Bergeron contributed to this report from Atlantic City.
Reviving Bridgegate committee not a priority for N.J. legislative leaders, they say at League of Municipalities conference
Assembly Speaker Vincent Prieto said that, despite putting out a statement on the status of a Legislature committee on Bridgegate, his staff is simply going back through record and testimony in an effort to do “due diligence.”Assembly Speaker Vincent Prieto said Wednesday that, despite putting out a statement earlier on the status of the state Legislature’s special investigatory committee into matters pertaining to the George Washington Bridge lane closure scandal, his staff is simply going back through record and testimony in an effort to do “due diligence.”
“On my hand, there is no need to do anything further unless we see there is a need to do something further,” Prieto (D-Secaucus) said Wednesday on a panel featuring the state’s four legislative leaders at the New Jersey State League of Municipalities conference in Atlantic City.
Senate President Steve Sweeney (D-West Deptford) said that his house was also doing its part to search for discrepancies between the legislative and federal inquiries.
The committee used its subpoena powers in the aftermath of the 2013 lane closures to help unearth documents related to the matter and bring testimony to light from several key players.
The work done by the committee is largely credited for helping to launch the federal investigation into the lane closures, which earlier this month resulted in the guilty verdicts for two former top aides to Gov. Chris Christie, Bridget Kelly and Bill Baroni. Another ex-Christie ally, David Wildstein, pleaded guilty earlier in the year for his role in the matter.
“I think the people of New Jersey are ready to move on,” said Senate Minority Leader Tom Kean (R-Westfield).
Kean added that he thinks New Jersey residents care more about finding solutions to issues like school funding, affordable housing and pension reform.
Assembly Minority Leader Jon Bramnick (R-Westfield) said the Legislature’s priority going forward should be to “stop the negative.”
“Whether it’s the media or others, I never found in business or in my family that it was helpful to dwell in negative,” said Bramnick.
If a reason is found to investigate the matter further, Bramnick said, the authorities should handle it, not the state Legislature.
“Let the prosecutors deal with this,” Bramnick said. “Let law enforcement deal with this.”
League of Municipalities conference Former N.J. governors ponder Christie’s future
At the League of Municipalities conference, former Gov. Donald DiFrancesco said that, following the election of Donald Trump, he thinks Gov. Chris Christie will be offered a “relevant” position in the administration.“I would suspect that Donald Trump would offer him something substantial,” DiFrancesco said of Christie, one of Trump’s earliest supporters.
Former acting Gov. John Bennett said that, while he agrees that Trump will likely find a place for Christie in Washington, D.C., he thinks that with the George Washington Bridge lane closure scandal still hanging over Christie’s head, it will be something that “probably would not require Senate confirmation.”
“Only because the Bridgegate cloud is still there, and no matter how many times people will say it’s irrelevant, it is relevant,” said Bennett.
The discussion comes as Christie was removed in the past week from his previous role as head of Trump’s transition team and a number of media reports point to growing dissent between Christie and Trump.
During a radio interview Tuesday with Harry Hurley of Atlantic City’s WPGG-FM 104.1, Christie added that he currently has “every intention of staying” in New Jersey.
Former Gov. Jim Florio said he believes it’s “beyond dispute” that Christie would at least like to leave office and head to Washington.
Acknowledging the presence of Democratic gubernatorial candidate Phil Murphy in the room, the governors also debated what an early exit for Christie might mean for Lt. Gov. Kim Guadagno, who is widely expected to be prepping for a statewide run herself.
Former Gov. Jim McGreevey said that, while such a move would certainly give Guadagno a head start, he’s not sure about how much of one it would actually provide, especially given that the role of the lieutenant governor is a “relatively recent phenomenon.”
“I would think that that name recognition is not as high as one might think,” McGreevey said.
DiFrancesco said that, even though he believes Guadagno’s name recognition would “go way up,” her chances of getting anything substantive done would be low, given that she would still be a full-time candidate walking into a short-term role with a Democratic Legislature.
“There’s not enough time,” DiFrancesco said.
On Trump, McGreevey said he saw his election as a “reaction against the political class.”
“There was a growing distance between political class and rank-and-file working families who struggle to make ends meet,” McGreevey said.
Florio said that, from his own past personal experiences with Trump, he feels strongly that, despite the former Atlantic City casino mogul’s volatile campaign rhetoric, he is more of an opportunist than an ideologue.
“He’s not a racist,” Florio said of Trump. “He’s not ideologically someone who’s driven. He’s an opportunistic pragmatist.”
Bennett said he sees an opportunity for the country to come together in the wake of Trump’s election, which has left many feeling disenfranchised and angry.
“We are a country that works best when we are united,” Bennett said.
Murphy’s pool party takes center stage during first night of League of Municipalities conference
At an elaborate party he hosted Tuesday night at the Borgata, Democratic gubernatorial candidate Phil Murphy rallied party support and vowed to take on the kind of “failed special interest politics” that he says Gov. Chris Christie has played in Trenton.And he did it poolside.
“It’s time to give him his walking papers,” Murphy said of Christie, to loud applause of more than 1,000. “Move it aside, turn the page.”
The party corresponded with the opening night of the annual New Jersey State League of Municipalities Conference in Atlantic City. The three-day conference, now in its 101st year, will continue through Thursday.
Murphy’s party was clearly the must-be-seen spot of the opening night. Crowds of people waited in long lines just to get in. Once they did, they found a band, open bars and wall-to-wall people, all trying to get a quick word or a quick photo with the man many feel not only will be the Democratic candidate but the state’s next governor.
The event had the feel of a victory celebration — one for an election that is still a year away.
Much can change in that time. And Murphy noted much can change overnight, telling supporters New Jersey can be a fresh start for the Democratic Party.
Referencing last week’s presidential election that saw a surprise victory for Republican Donald Trump, Murphy, a former Goldman Sachs executive and former U.S. Ambassador to Germany, said he believes New Jersey will play a pivotal role in helping the Democratic Party recover.
“The world and the nation changed last Tuesday,” Murphy said of Trump’s win. “One short week ago, the game changed for the worse.”
No part of the state will be overlooked and no one will take “one single vote for granted,” added Murphy.
“We will win this election one vote at a time,” said Murphy.
Less than two months ago, rumors had pointed to state Senate President Steve Sweeney (D-West Deptford) and Jersey City Mayor Steven Fulop being the Democratic favorites to run for the office, with Murphy perceived as being on the outside looking in.
But Murphy quickly ascended to frontrunner status after Fulop and Sweeney each backed out, clearing the path for the Monmouth County resident as he racked up endorsements.
Still, Murphy won’t be entirely unchallenged, as Assemblyman John Wisniewski (D-Sayreville) formally jumped into the race earlier in the day with a pledge to fight for the state’s “under siege” middle class.
“I believe New Jersey deserves the kind of leadership that’s not transactional, but transformative,” Wisniewski said in a YouTube video to supporters Tuesday. “To make sure that the middle class has a fair shot. Nothing’s impossible with the right kind of leadership.”
Wisniewski also worked the crowds in Atlantic City. “How about we have a two-person primary, the way it should be? That would be something,” he said at a different party.
Wisniewski, who rose to prominence in 2014 by leading the legislative probe into the George Washington Bridge lane closure scandal, said Tuesday night at a Middlesex County Democratic Organization event at the Borgata that the feedback for his announcement had been positive thus far, and that the primary race needed two choices.
Last month, however, Middlesex County Democrats did pledge their support to Murphy, who also briefly attended the second party before making another appearance at a New Jersey Young Democrats event at a separate venue within the Borgata.
On Wednesday, the issue of Murphy’s candidacy and his latest challenge from Wisniewski will be sure to come up on a panel featuring former governors at the Atlantic City Convention Center.
Later in the day, the state’s four legislative leaders will also be sitting for a separate panel discussion.
Andrew George, Anjalee Khemlani and Tom Bergeron contributed to this report from Atlantic City.
The special role of the special fiscal agent
Let’s say you are, or think you will soon be, litigating a claim against the officers and directors of your closely held corporation for mismanagement or fraud. Or you are a minority member or shareholder of an LLC or Corporation whose reasonable expectations of your role in the company have been frustrated by the controlling members of the…The point is you feel you have been the victim of minority shareholder oppression, but you want the business to continue to thrive while you litigate your claims. What can you do? You do not want to disrupt the business by seeking the appointment of a custodial receiver. Instead, to avoid injuring the business and its relations with the public, you need a less drastic remedy. One effective approach may be to seek the appointment of “a special fiscal agent.” This “ingenious equitable” device can afford your business some measure of protection while at the same time minimizing interference with normal operations.
But what can special fiscal agents do and how long can they continue to do it? The fiscal agent’s role is primarily “investigative and protective.” For example, the fiscal agent may be empowered to review all disbursements proposed to be made by the company and report any questionable ones to the parties who can then bring them to the attention of the court for relief. The fiscal agent can also advise the court as to the status of the company and its prospects for survival. The fiscal agent can protect the assets and oversee the operations of the company. The fiscal agent may also act as a mediator to resolve disputes and thus avoid more costly applications to the court. (The fiscal agent, however, may not act in an adjudicative or decision-making role.)
For example, in a case we are handling, our client holds an equitable mortgage on a sightseeing boat. The boat was operating, but the mortgage was not being paid. We successfully sought the appointment of a special fiscal agent to oversee the boat’s operation, collect the revenues, and recommend what disbursements should be made, including payment of the client’s mortgage before distributing any income to the owner of the boat.
The appointment of a special fiscal agent is limited in its duration. In another case, the fiscal agent had been appointed to manage rental properties owned by the litigants as tenants in common and had held the position for eight years. The court held that the fiscal agent’s function must be limited not only with respect to the fiscal agent’s role, but also the duration of that role. The exercise of the fiscal agent’s duties is limited to the pendency of the litigation.5
In conclusion, whenever the need arises to monitor the revenues or expenses of a company, prevent suspicious wrongful behavior, or prevent inequitable self-dealing, the appointment of a special fiscal agent should be considered because of the great flexibility this remedy possesses while at the same time avoiding more stringent measures.
Based in Atlantic City, Mark Soifer is a partner at Cooper Levenson with more than 30 years of experience litigating commercial and business disputes.
WCRE represents Giralda Properties in leasing, marketing office space in Turnersville
WCRE announced it has represented Giralda Properties LLC, an affiliated entity of Starkman Properties, in leasing and marketing an office suite in Turnersville.The 3,000-square-foot suite was leased by Serenity Home Healthcare & Nursing Solutions LLC. Serenity will be located at the Cross Keys Campus; 110 American Blvd.
Serenity provides short- and long-term care, including skilled nursing, certified home health aides, respite care, personal/companion care, homemaking services and physical, occupational and speech therapy.
Chris Henderson, senior associate at WCRE, represented the landlord in the transaction. Financial terms were not disclosed.
Building the future Industry icon Sanzari constructing new headquarters in Hackensack
Sitting at the head of the table and flanked by his son and daughter — both senior leaders in the construction company that bears his name — Joseph Sanzari proudly talked about the new headquarters he is building on a lot in Hackensack his company has owned for nearly four decades.