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REAL ESTATE 2018 ROI Influencers
Top 15

1The Mayors

Ras Baraka Jim Cahill Steve Fulop
Mayor Mayor Mayor
The city of Newark The city of New Brunswick The city of Jersey City

im Lizura, the former top executive at the New Jersey Economic international giant has in the city to handle the biggest real estate ask in decades.
Development Authority for more than two decades, has a unique In New Brunswick, it would be easy to give Cahill a lifetime achievement award.
perspective on what drives real estate development in the state. He has been in office since 1991, a 27-year stretch in which his city has transformed
You need a vision, a plan, financing and an understanding of the politics from one where no one wanted to do business to a model of success.
of the area and how government programs will or will not help. And New Brunswick is hardly stepping down.
But, before any of that happens — before the first rendering is even imagined — New Brunswick Performing Arts Center, an amazing arts center on target to
Lizura said, you need something else on Day One. be completed next year, will rival any in the area —and will dramatically improve
A great mayor. the city’s already vibrant arts scene as well as its connection to arts education at
“That notion that developers won’t invest in your town unless they believe you can Rutgers University.
deliver the necessary infrastructure — everything from permits, zoning, approvals and And then there’s The Hub, a project Gov. Phil Murphy’s administration hopes to
codes — to accommodate development is very real,” he said. make the centerpiece of his desire to remake the state as a center of innovation.
“Unless you have that, developers won’t spend the time in your community. And In Jersey City, Fulop has almost single-handedly pushed and presided over a
time is more important than money.” massive development of mixed-use, office and residential that has expedited the
For that reason, Newark’s Ras Baraka, New Brunswick’s Jim Cahill and Jersey transformation of the city in the five years he has been in office.
City’s Steve Fulop share the top spot in the ROI Influencers Real Estate 2018 list. Some have said it has been a lesson in social engineering as he has used
All three are connected to numerous projects that have helped transform their cities. development as a catalyst to improve the culture of the city and the life of its
In Newark, Baraka is credited for helping numerous projects throughout the city residents. And he’s just getting started. The city recently approved a bond act that
get started — One Theater Square just opened, and Ironside Newark and One Rector will be used to create Bayfront, a 100-acre mixed-use project that will bring — among
Street are coming soon. everything else — loads of affordable housing to the city’s west side. In addition,
But more, Baraka is credited with getting developers and city officials in the plans for SciTech Scity, a $280 million project that will be a mini-science community
room and famously not letting them out until they work out all their differences — of startups, scientists and students, are underway.
differences that, in some cases, have been blocking development for decades. Baraka, Cahill and Fulop serve as models for driving economic development
Even more — and going back to Lizura’s point — having Newark make the Amazon through real estate. For that, they share the top honor on the ROI Influencers Real
list of 20 finalists for its HQ2 second headquarters project shows the confidence an Estate list in 2018.


REAL ESTATE 2018 ROI Influencers
Top 15

2 Mike DeMarco
Mack-Cali Realty Corp.

It’s easy to say the head of
3 Jeff Bezos
Founder and CEO

It would be easy to say
4 Chris Paladino
New Brunswick Development Corp.

It’s hard to say where last
Mack-Cali always will be on Bezos makes the list here year’s No. 1 selection — and
the list. After all, that person because of the stir he created an annual Top 10 pick on
always will be. But, it’s also with the RFP for a second these lists — should fall this
worth noting that the head headquarters, but Bezos’ go-around. “Has to be near
of Mack-Cali was quickly impact in the state is about the top again,” one insider
dropping on this list before more than just glitz and said. “Not sure how you could
DeMarco arrived — and won the leadership battle glamour. It’s about jobs. His Amazon distribution do this and not have him in the Top 5,” said another.
with Mitch Rudin. “He’s fully in charge and has fully centers now shape industrial real estate like nothing Harder still is determining which of his many projects
restored Mack-Cali to its spot as the pre-eminent (real else. “How many people are trying to figure out to feature first. New Brunswick Performing Arts
estate investment trust) in the state, if not the country,” where he’s going to put his next one in the state Center is his latest gem. On schedule to open next
one insider said. DeMarco has been making moves, and are acting pre-emptively to make sure they will fall, NBPAC figures to be as nice of an arts center as
ridding Mack-Cali of a lot of its underperforming benefit, too?” one insider asked. No. 9, the facility in there is on the East Coast, certainly one that will have
suburban assets and doubling down on its West Deptford, is now fully operational and pushes a huge impact on the city. The same can be said for
multifamily and urban properties. But, for as much the number of employees in the state to nearly The HUB project, which was Paladino’s before Gov.
as his lofty spot on this list goes to his leadership, 20,000 (a facility in Burlington set for 2019 will add Phil Murphy laid claim to it for a center of innovation
another insider said it’s his ability to work with others to that number, too). Another insider pointed out — and, insiders joked, it will be Paladino’s again if it
that has helped him return Mack-Cali to its lofty spot. what the holiday season will mean, when 9,000 doesn’t produce the way the governor wants. There’s
“Without a doubt, he is big,” another insider said. “He’s seasonal hires will be made. “Do the multiplier on no reason to doubt it will. Paladino is the master of
not only resetting and repositioning Mack-Cali, but that,” another insider said. “Those are just the jobs in the public-private partnership. His latest venture,
he’s forging alliances and joint-venture partnerships the warehouses. Of course, there’s that HQ2 thing, the Gateway Atlantic City project featuring Stockton
with more of your Top 10 guys than has ever been too. Few in New Jersey feel it’s coming to Newark University and South Jersey Industries, will be fully
done before.” Said another: “People were starting to — but everyone agrees just making the Top 20 put opened and occupied by the end of the fall. Which
avoid Mack-Cali. Now, they want to work with them. the city on the map in a way that is spurring more we hear will be about the time he announces Devco’s
companies to take a look at New Jersey. next major project.

5 Don Ghermezian
Triple Five

You may have heard of the
6 Gene Diaz
Prism Capital Partners

There are many milestone
7 Ron Ladell
Senior vice president

If you’re waiting for Ladell to
American Dream project at moments in the completion slow down, you don’t know
the Meadowlands. You know, of a project. Here’s one him. The fast-moving New
if you’ve lived in New Jersey most developers don’t get: Jersey head of AvalonBay
since the turn of the century. Having the governor make famously took a six-week
Incredibly, the project is finally his first major economic sabbatical earlier this year,
headed to an opening in the address, one where he details came back and immediately
spring of 2019. One insider said the mixed-use project, his plans for the future, in your building. Gov. Phil found his stride. He had to. The company currently is
which matches retail and entertainment in a way that Murphy did that on Oct. 1 at ON3, the project that building multifamily projects in five spots (Old Bridge,
has never been seen in the state, will be worth the saved both Nutley and Clifton from having a white Teaneck, Boonton, Piscataway and Edgewater)
wait. “This is the transformative project for the state elephant straddling their towns. Instead, they are in after just finishing up in Maplewood. Edgewater is
of New Jersey. Period. End of sentence,” an insider the process of getting a vibrant mixed-use facility virtually completed and already has started leasing.
said. “It’s going to happen. And it’s going to happen anchored by the new Hackensack Meridian/Seton Ladell is the master developer on a project in West
in the next 12 months. It, quite frankly, is going to be Hall medical school, Quest and others. “That project Windsor at the Princeton Junction train station. It
amazing.” The Ghermezian family, known for the Mall is transformative,” one insider said. “It’s just opening will be one of the largest mixed-use projects ever
of America, are experts at this sort of thing, an insider up; leases are just being signed.” The full scope in Central Jersey, with 550 rental units, many of
said. “They are a very unique company. When you of the project has yet to be seen, which is making which will be affordable, along with more than 4,000
listen to these guys talk, you realize there is no one some take a pause. “It remains to be seen which parking spots and 37,000 square feet of retail. Ladell,
that knows real estate and entertainment in North way it goes, whether with more ‘Eds and Meds’ or who gets offered as many opportunities as anyone,
America the way these guys do.” The jobs created — more retail and residential,” the insider said. “I’m not picks his partners carefully. He’s doing a project with
and the taxes paid — will have real impact, another sure he is ever going to get the residential, but, either Ralph Zucker in Somerville and has been working
insider said. And the long runway to completion will way, it is one of the biggest projects in North Jersey with Peter Cocoziello on his massive project in
be met with a long takeoff period, another said. “I in years.” While Diaz is putting most of efforts in Bridgewater for some time. That project has slowed;
think for the first 18 months, that place is going to be ON3, it’s not the only place Prism is operating, either. Ladell hasn’t. “He’s the hardest-working guy out
immensely successful. there,” one insider said.


REAL ESTATE 2018 ROI Influencers
Top 15

8 Jonathan Kushner
Kushner Real Estate Group

It’s almost a requirement to
9 Jack Morris; Joe Jingoli
CEO and president; CEO
Edgewood Properties; Joseph
Jingoli & Son Construction

There was a thought that
10 Joe Kelley
Deputy chief of staff
for economic growth
Governor’s Office

A year ago, everyone in the
have Kushner near the top of this year the two would be sector was waiting to see
the list for his work in Jersey split up. It wasn’t that the how the governor’s team
City. As head of the side of the longtime business partners would shake out — and
Kushner family that is working and friends were not doing which member would be the
with, not fighting with, Mayor great things together, but go-to person on real estate
Fulop, it’s fair to say his that they both were doing development. This year, it’s
company (along with Ironstate and others) has been so many great things apart. clear: It’s Kelley, a deputy chief of staff. “It’s mandatory
the driving force behind the massive redevelopment Then someone set us for him to be on the list — and for him to be really
that has been taking place in the Gold Coast city for straight. “I get the idea, but high on the list,” one insider said. “He is, by far, the
nearly a decade. “They have done as many projects why would you?” the insider most important person from the state involving
— and as many influential projects — as anyone in questioned. “They certainly real estate. There’s not even a question about that.”
Jersey City,” one said. The list of accomplishments can make the list individually, Kelley, however, was praised for more than just being
is lengthy. But, as another insider points out, their but their willingness to do an administrator. He was praised for the way he
influence is greater than just the big projects. “They the Hard Rock together is one of the biggest movers administrates, too. “He’s young, but he’s a really smart
do ground-up luxury high rises in Jersey City as in our industry in years.” Another agreed. “The Hard guy,” another said. “And here’s the thing about young,
well as anyone, but they’re also doing these value- Rock, in and of itself, has ignited a fuse in Atlantic smart guys in government — they usually think they
add deals where they’re buying the old class B city like no other,” the person said. “So, just in terms already know it all. He’s not like that. He’s not afraid to
garden apartment complexes all over the state and of resuscitating or putting some breath in the dying say, ‘Tell me why you do it this way and not this way?’
renovating the kitchens and bathrooms and whatnot beast that was Atlantic City, these guys deserve major You like guys like that, because he’s not just trying to
and turning them around getting great rents,” the credit.” Some even suggested that Hard Rock head poke holes in a project.” His role in the industry cannot
insider said. “They’ve got a lot of deals like that. And Jim Allen, a longtime Jersey guy himself, be added to be overstated, said another. “There are a lot of people
then the third leg of it is they’re doing these luxury the list. Of course, with Morris and Jingoli, it’s not just on Murphy’s team that will play a huge role, including
mid-rise kind of things like in places like Madison. So, about the projects they do, but the impact they have (EDA head Tim) Sullivan. But so much of what the
they’re really attacking the multifamily sector.” on the people in the communities they serve. governor wants to get done will go through Kelley.”

11 Jeff Milanaik
Bridge Development Partners

In just three years, Milanaik
12 Sam Morreale
Founder and managing member
Vision Real Estate Partners

Morreale has been bouncing
13 Ralph Zucker
Somerset Development

Zucker has long been
established Bridge’s office in around near the top of credited for Bell Works,
New Jersey, took on some these lists for years. This turning a project most felt
of the most challenging year, he moves into the top was impossible to pull off
industrial sites in the state tier. “Long overdue,” one into one that now serves as
and then sold that pipeline insider said. “He’s doing a blueprint for others on how
to Duke Realty for hundreds more deals than 99 percent to create a “metroburb.” And
of millions of dollars. How do you follow that up? of the people out there.” He impressed another by the thing is, one insider said, he’s still not done being
If you’re Milanaik, you put together an even bigger his ability to dominate his niche. “He’s very smart creative. “It’s the ultimate example of what everyone
pipeline. “The deal on (Interstate) 78 could turn in his world. He really is repositioning assets very is gunning for: live, work, play.” This year, he’s begun
out to be one of the biggest industrial projects in well. He can get office buildings done, so it makes adding the “live” as housing units are opening near
years,” said one observer, referring to Bridge’s new sense.” And makes dollars and cents, said another. the complex. Not to mention that we still haven’t
4 million-square-foot development in Phillipsburg “Sam actually finds ways to revitalize without the even seen Bell Works at full capacity, which will be
and Lopatcong. Said another: “If you thought the state giving them handouts, which is impressive.” the true testament to the greatness of that project.
deal with Duke would lessen his importance, you The Bayer and MetLife project in Whippany is “He continues to show he’s ahead of others,” one
thought wrong. Milanaik may soon be bigger and yesterday’s news, in large part because Vision has insider said. Another pointed out he’s hardly a one-
better.” The demand for last-mile logistics space is launched so many other big-time projects: Latitude trick pony, either. “Don’t forget, he has considerable
only growing, so there’s much to be said for being in Parsippany and the former Honeywell campus in projects going on outside of Bell Works, including
in the right place at the right time. Where the right Morris Township — all large, high-profile deals that a number of train station projects.” Holmdel was
place is, we’re still not sure — but, as the deal in will attract blue-chip tenants. He is one of the most perhaps the ultimate test of will, but his patience is
Phillipsburg demonstrates, another part of the state creative developers around and has the benefit of about to pay off in places like Somerville, where he
is in play. Looking for Milanaik and Bridge to lead having Ross Chomik as a partner. They make a recently won approvals for a 40-acre transit village
the way. After all, with Bridge’s pocketbook and powerful combo and are backed up by an in-house with more than 500 units.
Milanaik’s talents, they are a match made in heaven. team that seemingly has the respect of the industry.


REAL ESTATE 2018 ROI Influencers
Top 15

14 Tony Coscia
Windels Marx Lane & Mittendorf

The partner at Windels Marx
15 Jon Hanson;
Jimmy Hanson
Chairman; CEO and president
The Hampshire Cos.

For years, Jon Hanson has
Last year’s Top 10

1Chris Paladino
New Brunswick Development Corp.

could make the list every year
for his work as a real estate
said the end of Gov. Chris
Christie’s administration will
2Jeff Bezos

3Jeff Milanaik
attorney at the New Brunswick mark the time his influence
firm. Of course, with Coscia, starts to wane. If Hanson Bridge Development Partners
it’s about so much more than believes that, he’s the only one.
that. A confidant of governors
and legislators on both sides of the aisle, you can be
Those in the sector speak of
him with absolute reverence. 4 Mike DeMarco
Mack-Cali Realty Corp.
sure he is consulted on moves months before they “I hate when people are called
happen. And, as the head of Amtrak, he has been
making financial moves with the organization that
icons because, in his case,
that’s not even enough,” one
5 Ralph Zucker
Somerset Development

6 Gene Diaz
could and should serve as a guide when New Jersey insider said. At Hampshire,
Transit starts operating like a business. Then there’s his son, Jimmy, is a star in his Prism Capital Partners
this little thing called the Gateway Tunnel project, own right, now handling the
which many people feel Coscia is doing more to
keep alive than anyone. “This list is about influence,
right,” one insider asked and then answered. “Who
day-to-day operation. But it’s hard to get past Jon. His
latest accomplishment may be the American Dream,
a project he has worked on pro bono, for more than a
7 Jack Morris; Joe Jingoli
Edgewood Properties; Joseph Jingoli
& Son Construction
has been more influential when it comes to keeping decade. Having Hanson’s support is one reason the
the Gateway Project alive? No one.” When the project
gets the funding it needs, Coscia will be right in the
project is close to the finish line. “Here’s what you don’t
know,” one said. “The number of big projects he gets
8 Ron Ladell
AvalonBay Communities

9 Jonathan Kushner
middle of it. He’ll not only soar to the top of this list called about every day. One phone call or visit can lead
but perhaps any other list that talks about business to one insight that changes how some of the biggest Kushner Real Estate Group
and life in the region. “It’s just the biggest real estate developers on your list do business.” His influence,
project in the last 100 years,” one said. “And it will be
the biggest real estate project for the next 100 years.”
said another way: “I felt like I had made it when he just
came and looked at one of my projects.” 10 Jon Hanson; Jimmy Hanson
The Hampshire Cos.

Jose Cruz Jon Mikula Jim Cadranell
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(973) 549-2018 (973) 549-2032 (973) 549-2035

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(973) 549-2015 (973) 549-2012 (973) 549-2024

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REAL ESTATE 2018 ROI Influencers

Dave Brogan Morris Davis Mike McGuinness Carol Ann Short
Executive director Academic director CEO CEO
New Jersey Apartment Association Rutgers Center for Real Estate NAIOP New Jersey New Jersey Builders Association

One of the bigger no-brainer picks These pages are filled with “A real talent,” one insider said. Short handles the unappreciated
on the lists. Multifamily is still numerous members of the Rutgers “Incredibly at keeping us together role with grace and smarts,
hot, still shaping the state’s future Center for Real Estate, which is a and focused,” said another. And consistently supporting and
— and Brogan is the aptly-abled who’s who in the industry. Davis, then a third said what the first advocating for her members —
head. “He’s as good as it gets,” one the Paul V. Profeta Chair of Real two were thinking: “We’re not and doing so when her members
insider said. He’s hard-working and Estate and the academic director the easiest group to deal with.” have slightly conflicting wants
filled with knowledge. And, as one of the organization, is the one that McGuiness, the head of the New and goals. “She continues to have
recent event showed, has a pretty brings them all together. “He is able Jersey chapter of NAIOP, continues impact and influence in one of the
good sense of humor, too. to work with all of us — and we to run informative programs and toughest association jobs in the
often can’t work with each other,” work with influential leaders. state,” one insider said.
one insider joked.

The Hampshire Companies thanks everyone who made the
Todd M. Anderson Memorial Golf Invitational
a success and for honoring Todd’s legacy.

A special thank you to the event sponsors for their generous support.

Alliant Insurance Services, Inc. Connell Foley Ironstate NK Architects
Avison Young Cushman & Wakefield Jones Lang LaSalle R&J Strategic Communications
Bohler Engineering Deloitte Langan Engineering & Environmental Services Schenck Price Smith & King LLP
Brookfield Drinker Biddle MCB Real Estate LLC The Pinnacle Companies
CBRE, Inc. Fox Rothschild LLP NAI James E. Hanson Tobin & Collins P.A.
CohnReznick Holliday Fenoglio Fowler Newmark Knight Frank Tulfra Real Estate
TSS Facility Services, Inc.


A&E Construction Co. Hampshire Destination Properties M&T Bank Realogy
CrownPoint Group Hollister Construction Services Mountain Development Corp. TriState Capital Bank
Doug Oliver Investors Bank Normandy UOB Global Capital LLC
Dynamic Engineering ITSE Prism Capital Partners, LLC Whitestone Associates, Inc.
EWMA KSS Architects Quest Builders Group Inc.


Park Ave BMW Advance Realty Millcreek Adler Development MRY Associates, LLC Diversified Realty Advisors, LLC
CBRE Structure Tone DPH Holding LLC The Ferber Company, Inc. Lenox Advisors
dancker Transwestern Howard Stotsky Real Estate W.T. Rich Company, Inc. Norris McLaughlin P.A.
Friedman LLP Investments, Corp. Federal Business Centers


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REAL ESTATE 2018 ROI Influencers

Jeff Babikian Jose Cruz Stan Danzig; Jules Nissim Tim Greiner; Frank Recine
Executive vice president Senior managing director Vice chairmen Executive managing directors
CBRE HFF Cushman & Wakefield JLL

Babikian is a perennial all-star Cruz has hit one home run after In a time You’ve had
and a go-to broker for some of another as an investment sales when a good year
the biggest names in Corporate broker — and even his singles and industrial is when you’re
America. And he reminded us doubles are impressive. Just ask king, they involved in
of that when he represented him. “I love working with him,” one are the top the Mars deal
Mars Wrigley in the candy giant’s insider said. “There’s no one that industrial in Newark,
highly touted lease at the Ironside works harder — or talks louder.” brokers for Cushman & Wakefield but Greiner, Recine and company
Newark project. “He’s someone Said another. “Is there anyone who in New Jersey. And they’re once followed that up by luring Teva
you know is going to be on the list gets more deals than he does?” again proving their value to Pharmaceuticals to Parsippany.
every year,” one insider said. developers as the landlord broker The JLL team served as the
for projects such as Rockefeller’s landlord broker in the blockbuster
new industrial park in Piscataway 345,000-square-foot lease, which
and a large development in is one of many great things that
Totowa, which have both attracted they’re doing in New Jersey’s office
big-name tenants. sector.

Rob Kossar; David Knee Dan Loughlin Tom Monahan Bill Waxman;
Vice chairmen Vice chairman, brokerage Vice chairman Mindy Lissner
JLL JLL CBRE Executive vice presidents

JLL is tied It’s still sinking in, but he actually There’s a reason that CBRE Waxman,
to most of pulled it off. We’re talking about named Monahan its first-ever vice Lissner and
the major the sale of the Merck campus chairman in New Jersey: He is the their team
industrial in Whitehouse Station, a deal firm’s top industrial producer in the boast an
deals in New brokered by Loughlin and his team Americas. That meant completing impressive
Jersey, and at JLL. Considering his role in more than 50 deals in 2017 with list of clients
Kossar and Knee are leading the selling and repositioning so many an aggregate value of more than in e-commerce and other sectors
firm’s expansion into the outer other massive pharmaceutical $500 million. It doesn’t hurt when that are driving the industrial
boroughs, which is catching the campuses in New Jersey, we you are a go-to landlord broker for market. Not to mention that they
eye of many longtime Garden State shouldn’t be surprised. But there’s heavyweights like Prologis. are part of the team for Bridge
developers. It’s easy to see why no understating the importance of Development’s new project in
they are now running JLL’s new this one. Phillipsburg and Lopatcong. “They
regional industrial team out of the are both way overdue to be on this
East Rutherford office. list,” one insider said.

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REAL ESTATE 2018 ROI Influencers

Dave Barry Joel Bergstein Wasseem Boraie Jenny Bernell
President President Vice president Executive vice president
Ironstate Development Co. Lincoln Equities Group Boraie Development of development
Kushner Cos.

“He is still active and still a A newcomer to the list, one who The next generation at Boraie is Jared Kushner has stepped away
dominant player in Jersey City. makes it for many reasons, but maintaining the firm’s high level from the firm, working for his
There’s no doubt about that,” one mostly the purchase of the 90- of excellence set by its patriarch, famous father-in-law, but behind
insider said. Barry has the respect acre MOTBY site in Bayonne. Omar Boraie. A multifamily project Bernell, the company has picked
of the industry. “Just one of those “It’s a massive development in Atlantic City (600 North Beach) up its efforts in New Jersey.
guys who always is on the list,” of warehousing that will be got rave reviews (and another “The (Eatontown) mall project is
said many. Some felt his local complementary to the Port project is coming). The timing of massive — and what they are doing
influence was a plus — “he’s one of Authority, and it’s starting to build a Newark high rise (One Rector in Long Branch with Pier Village is
those guys who dominates a local right now,” said one insider. “It Street) which opens in spring, even more impressive,” one insider
area” — while others said he needs was a huge deal, something a lot couldn’t be better. The next project said. “Here’s the irony with them,”
to expand his reach to go higher. of people are watching. Certainly, in Newark (777 McCarter) will be another said. “They have picked
something that makes him another game-changer for city. Not up their game, but they don’t use
noteworthy,” said another. that you’ll hear the sons, Wasseem Twitter to talk about it.”
and his brother, Sam, talking about
them. “They just let their work
speak for itself,” one insider said.

Peter Cocoziello Bruce Deifik Carl Dranoff; John Schreiber Joe Forgione
CEO and president Owner Founder and president; Founder and principal
Advance Realty Ocean Resort Casino CEO and president JMF Properties
Dranoff Properties; New Jersey
Performing Arts Center

Mixed views on Cocoziello, a Ocean Resort Casino was “They finally “He’s long overdue for the list,” was
longtime member on lists such overshadowed by the Hard Rock opened a frequent comment on Forgione.
as these. His biggest project, Hotel & Casino in Atlantic City, but the @#$*! “Here’s the deal with Joe: He’s one
renovating the Sanofi site in more than one insider pointed to building,” of those guys doing multiple deals
Bridgewater, is still on, but Deifik as someone who may have one insider in multiple places, but you don’t
proceeding slowly. “Is it going to pulled off the best real estate deal started with really hear much about him. He flies
happen? Yes. Is it going to happen of the year. How’s this reasoning: a joke — and under the radar.” No longer. With
in the next six months? No. Is it “He picked up Revel at the bottom then delivered the punch line: “And efforts across the state in numerous
going to happen by the end of of the barrel. Fixed it up — have you wow, it was worth the wait.” One counties, Forgione is a baseball
next year? I think so.” Others are been there, it’s awesome — and Theater Square — the project that fan’s dream, one insider said. “Lots
more convinced. “He’s doing two proved that it’s a viable property. died a million deaths, as Schreiber of singles, plenty of doubles,” the
massive industrial projects,” the I think he could easily flip it and has liked to say — finally got to the person said. “No grand slams, but as
insider said. “Don’t underestimate double his money.” finish line this fall, providing much- consistently solid as they come.”
him,” added another. needed residential to the area near
Military Park and NJPAC. More
importantly, its completion signals
an unofficial start to the next moves
NJPAC is going to make in the area.


REAL ESTATE 2018 ROI Influencers

Frank Greek Jesse Harty Sonny Jumani Ben Korman
President Senior vice president, President and managing member Chairman and CEO
F. Greek Development market leader N.J./N.Y. Tulfra Lotus Equity Group

Greek returns to the list for a Prologis hasn’t missed a beat One insider gave him the ultimate “He’s got money in his pocketbook
second year — and, for the second despite having some leadership compliment: “He’s as good as and he’s willing to spend it,”
time, his presence is greeted changes in New Jersey this year. anyone else in the next generation one insider said. And that’s a
with the same thought: It’s about The industrial giant still has a of stars,” they started. “When I description any developer would
time. “He doesn’t have the biggest sizable portfolio in the state and think of guys in their 40s who are love to have. The question is
persona, but he is very well known a big pipeline that has attracted going to dominate the industry in where and when is he going to
in his asset class,” one insider said. tenants such as The RealReal in the next decade or so ahead, he’s put it in motion. Some point to
“He’s involved in two or three large Perth Amboy. Said one insider: one of the guys I think of.” Others the Riverfront Stadium project
industrial projects.” A contributor at “Here’s a new name for the list: shared the vision. “He’s just rolling, in Newark, others question the
the Rutgers Center for Real Estate, Jesse Harty. Write it down. You’re doing a lot of great things and speed in which anything is getting
his efforts are being seen. “One going to be seeing it a lot.” doing them all well,” another insider done. Development is a long game,
day, he’ll be considered an icon,” said. “He’s active and out there. others point out. “And Korman has
said another insider. He’s involved in the Rutgers center. the ability to have a big impact.”
He’s a star.”

Tim Lizura Wendy Neu Joe Panepinto Steve Pozycki
Senior vice president, real estate Chairman and CEO President Founder, chairman and CEO
and capital projects Hugo Neu Panepinto Properties SJP Properties
New Jersey Performing Arts Center

The longtime executive at the One insider summed it up: “Yes, One insider made one big push for His next New Jersey play
NJEDA joins the nonprofit and one project,” they said, referring to Panepinto. “Joe Panepinto — that’s (redeveloping the old
arts community in a big way. Kearny Point. “But what a project.” the name you need to know,” they Westinghouse site that has been
He’ll be in charge of helping Others agreed. “There’s a lot of said. “That’s the name that’s not vacant for decades) could be one
NJPAC turn more than 6 acres of ways people can have impact and on (last year’s) list you need to of his biggest ever. Early plans call
parking lots into a 24/7 arts and influence. A transformative project add.” Panepinto earned acclaim for 2 million square feet of mixed-
education community for the city. such as Kearny Point, which is still recently when he gave $10 million use development, to potentially
His background in working with developing, and I understand is to Saint Peter’s University (its include office, retail, hotel and
developers, financiers and his rare doing very well, is one of them. She biggest gift ever). His acclaim in residential components. It will
perspective on government makes definitely deserves to be included.” the industry, however, has been be an incredible lift — many think
him a unique choice for the role. around for years. “He’s a Jersey there’s a huge cleanup involved
guy and he is the single largest — but, if anyone could pull it off,
builder of commercial buildings in Pozycki would be the person.
Jersey City. Google him and you’ll
be stunned.”


REAL ESTATE 2018 ROI Influencers

Ed Russo Jon Saraceno; Michael Sommer Debra Tantleff
President and chief operating officer Jonathan Schultz Executive vice president Founding principal
Russo Development Co-founders of development Tantum Real Estate
Onyx Equities Edison Properties

He’s another one of the young “They are He’s overseeing Ironside Newark — Everyone is a fan — and everyone
stars in the industry — he’s just crushing it,” “amazingly impressive, and that’s notes her overall impact on the
the one who has been a star for the insider without even considering what sector. “I wouldn’t put her on the
so long it’s easy to forget which said. “They they pulled off to get M&M Mars list for one big project, but for
generation he’s from. “He’s creative should move there,” one insider said. Others are her big personality,” one insider
and aggressive — very aggressive,” way up on interested in where he goes from said. “She’s definitely influential
one insider said. “He continues to the list this year.” The compliment here. “He’s emerging as the next because she’s always out there
make deals everywhere, buying came from more than one source. big developer in Newark. He’s still and helping drive the industry.”
and selling.” His victory over Kean Their ability to reposition outdated a young guy, and he’s coming out She is a member of the executive
University regarding a claim to an assets continues to impress the of the shadow of everything at committee at the Rutgers center
old Merck site was noteworthy, sector. “They are major players Edison.” Another said it this way. and co-chair of the emerging
too. “He’s tough to compete with,” and they do unique things,” another “They are now running Edison, a leaders council, among many
said another insider. said. “They are doing things all family business, as a corporation, industry roles.
over.” and I think he’s the CEO.”

Joe Taylor Mark Toro Eric Witmondt Ning Yuan
CEO and president Managing partner CEO Chairman and president
Matrix Development Group North American Properties Woodmont Properties China Construction America

Many insiders felt he was worthy Don’t know him yet? You will soon. Witmondt heads a tried-and-true It’s a company that’s more into
of the list — they just couldn’t Toro, a Rutgers grad, made his team that excels in both residential finished product than lavish
necessarily decide where the return to the area for the first time and industrial — in New Jersey promotion. “They just topped off
longtime prolific developer should in years with the announcement and outside of it. His project at the tallest building in New Jersey,
be noted for. “His work on the of the Riverton project at the the Metuchen train station, which 99 Hudson, and they have 450
Turnpike, his work in Newark, his Sayreville marina, a $2.5 billion opened a year ago, is getting rave condos that are selling well in
work in Staten Island,” one noted. “experiential mixed-use” site that reviews. And that’s not surprising Jersey City (Park and Shore),” the
Taylor continues to have impact. will mix retail, restaurant, office, to insiders. “Here’s the deal with insider said. “If you’re looking for
“I suspect one day he’ll be on the hotels, park and a marina in a Woodmont,” one said. “They are influence and impact, you can’t
icons list,” another said. “He is work-live-play 418-acre project. “If just solid and steady in everything look past them. That was the first
another one of the true pros in our he can pull this off, transformative they do.” for-sale project of that magnitude
industry.” won’t even begin to describe it,” in Jersey City. It’s incredibly
one insider said. impressive.”

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Honoring Industry Leaders

Caren Franzini Award Honoree Hall of Fame Award Honoree Shining Star Award Honoree
Carol Ann Short – CEO Ann M. Waeger - Of Counsel Krista Korinis, President
New Jersey Builders Association Greenbaum, Rowe, Smith, & Davis, LLP Global Installation Resources

CREW NJ (Commercial Real Estate Women) is the New Jersey chapter of CREW Network which is dedicated to transforming the commercial
real estate industry globally through the advacement of women in the field. CREW Network consists of over 11,000 members across 76
chapters in the US, Canada and the UK representing over 70 disciplines in the industry. CREW-NJ influences the success of women
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REAL ESTATE 2018 ROI Influencers

Jon Mikula Frank Sorrentino Rich Spengler Gretchen Wilcox
Senior managing director, co-head Chairman and CEO Executive vice chairman, chief lending CEO and president
HFF ConnectOne Bank officer G.S. Wilcox & Co.
Investors Bank

He handles the finance side at HFF, The insiders often like to help It seems like Investors has an Another annual member of the list.
and few do it better. “He makes all us out with the money quote. annual spot on this list. That’s And for good reason, one insider
the deals work,” one insider said. “I’ve got a good one for you,” the what happens when the insiders said. “Year in and year out, you can
“Every year it seems he hits it out insider began. “Frank Sorrentino continually point to the bank as depend on her to be doing great
of the park.” Along with broker Jose has made ConnectOne Bank look the best for real estate deals in things.” Another insider offered
Cruz, HFF has a formidable team. like Investors did seven years ago. the state. The question is always this: “Companies like hers fill a
“There aren’t a lot of combinations He’s under the radar, but he may which member of senior leadership niche. And that niche is: They’re
that work better than those two,” be doing more $15 million-and- to feature. “Spengler’s the one you a place to go for financing. She
another insider said. under deals than any other banking want,” one insider said. “He knows handles difficult deals with ease.”
institution. He’s killing it. How’s that how to work the deals. I think he’s
sound?” Like someone worthy of the one people deal with the most.”
being a first-timer on the list.

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REAL ESTATE 2018 ROI Influencers

Omar Boraie Bob Donnelly; Andy Merin Carl Goldberg David Mandelbaum
President Executive vice chairman; Managing member General partner
Boraie Development Vice chairman Canoe Brook Management Interstate Properties
Cushman & Wakefield

His legacy can be seen in New The two Goldberg is still going strong. In Mandelbaum continues to be an
Brunswick and in the work ethic Cushman & addition to running Canoe Brook, all-time influencer in the sector.
of his sons, Wasseem Boraie and Wakefield he is the co-chair of the Rutgers And he continues to be quiet about
Sam Boraie, who are taking on a executives Center for Real Estate and a it. “Trust me, he’s still involved in
greater role in the company. But still pack a frequent thought leader on the plenty of deals,” one insider said.
don’t be confused, you’ll still see punch in the panel circuit when it comes to Another put it differently: “You
Omar plenty at the office, as his industry. Said one insider: “Are they discussing the fate of suburban don’t have to brag about having
considerable skills and institutional as active as they were years ago? office parks and the continued influence to have influence.”
knowledge still serve as a driver of No. Are they as influential? Yes.” importance and impact of
the company’s vision. multifamily.

Gus Milano David Simson Finn Wentworth; Zygi Wilf
President and chief operating officer Vice chairman David Welsh Principal
Hartz Mountain and chief operating officer Founders and partners Garden Homes
Newmark Knight Frank Normandy Real Estate Partners

He’s been firmly in control at Hartz Longtime leader of Newmark still Normandy What can you say? He continues to
Mountain for a while now. “The keeps the firm going strong. “He still packs be the leader in garden apartments
company is still going strong, keeps them in the mix,” one insider a punch in throughout the state and
still collecting great rents.” Hartz said. Another joked that Simson real estate elsewhere. And his investments
is making major upgrades to its should do all his business on a golf — but, not and holdings go much further
properties in Weehawken and course. “He’s incredibly strong. You necessarily than that. “Zygi Wilf defines what
elsewhere. Milano is someone should see him hit a golf ball.” in New Jersey. Longtime leaders it means to be an icon.” He’s still
whose name continually comes maintain their status as icons in hoping for his biggest win. His
up. “He definitely deserves to be on the industry. And one insider said Minnesota Vikings fell short of
there.” they are people you should always their Super Bowl goal last year …
keep an eye on. “Don’t fall asleep again.
on them, you never know where
they are going to deal next.”


REAL ESTATE 2018 ROI Influencers
Power Players

Sheena Collum Aisha Glover
Village president CEO
South Orange Newark CEDC (currently);
Newark Alliance (soon)

She is the head of South Orange The well-respected head of the
and also on the board of the state’s Newark Community Economic
American Planning Association Development Corp. is moving to
chapter. The two roles, an insider the Newark Alliance — but she’ll
notes, give her a great platform. still be one of the city’s strongest
One she is using. “People are really salespeople. “She really is a rock
getting to know Collum because star. She has been the quarterback
she’s on the speaking circuit,” one of the Amazon proposal,” one
insider said. “It’s a different role insider said. Another offered this:
than the normal for a mayor. She’s “She’s always prepared — so she
out there saying the towns need always has the right answer or the
pilots to revitalize. And people are right question.”
listening. That’s influence. She
deserves to be on the list.”

Don Katz Kris Kolluri
Founder and CEO CEO and president
Audible Cooper’s Ferry Partnership

He’s not a developer. He’s not He’s been on the job less than a
a financier. He’s not an elected year, but one insider said he’s got
official. But, an insider said: “He’s the South Jersey organization
been a principal in driving the running like clockwork. “He is on
renaissance of Washington Park his game. He’s got every base
and he has the fastest-growing covered, from how to move people
business in Newark, one that’s to how to train employees and
eating up space, whether it’s everything else a company will
commercial or residential. He is want and need in order to relocate.
committed to Newark and may They’re really lucky to have him
wind up being the single largest down there.”
occupier of commercial space
outside of Prudential.”


REAL ESTATE 2018 ROI Influencers
Power Players

Greg Lalevee Kevin McCabe George Norcross Sheila Oliver
Business manager, vice president President Chair; Executive chairman Lt. governor, commissioner, Dept. of
of General Executive Board Carpenter Contractor Trust Cooper Health System; Community Affairs
IUOE 825 Conner Strong & Buckelew State of New Jersey

As business manager of Local 825, Here’s one take on him: “He’s It almost seems silly to list Developers can only hope that,
Lalevee already is a big player in all the perfect example of the Norcross’ various affiliations in as head of the Department
things building. His appointment modern labor leader. He’s not South Jersey. His overall power of Community Affairs, she
to the Turnpike Authority only adds just smart and well-connected, and influence in the city of Camden follows through on her pledge to
to it. “He’s another union guy who he understands the game has and the region transcends all of streamline permitting, inspections
not only understands the modern changed and he is exceling at the titles. “Everyone knows George and approvals for construction.
issues, he works to fix them,” one the new model.” It’s the reason is someone who can influence a And the state Housing Mortgage
insider said. “He’s an ever-growing McCabe wears many hats, lot of decisions on a lot of things,” and Finance Agency, which she
voice in the building trades.” including serving as Democratic one insider said. “And that’s a chairs, will continue to play a
Party Chair of Middlesex County good thing. At least, it has been major role in financing projects
and a board commissioner on the for Camden. George gets a lot of as developers look to ramp up
Port Authority. credit for its resurgence.” affordable housing production.

Kevin O’Toole Lata Reddy; Ommeed Sathe Tim Sullivan Kevin Walsh
Chairman SVP, diversity, inclusion & impact; VP, CEO Executive director
Port Authority of N.Y. and N.J. impact investments N.J. Economic Fair Share Housing Center
Prudential Financial Development Authority

This former lawmaker is now the One longtime Expect Sullivan to be near the top One insider admitted that, once all
chair of the agency pushing the insider loved of the list next year, once Gov. of the affordable housing issues
Gateway Tunnel project. And while the idea of Phil Murphy’s economic plans in the state are handled, Walsh’s
that inches forward, it’s full steam recognizing are fully in place — including an stock will drop. But that’s still
ahead on renovations at Newark two of expected new look at incentives, years away, the insider said. “He
Liberty International Airport. The the power the biggest watch for developers. has to be on this list — and you
question is how long the former players from Prudential — even “He is going to be the point person could consider him for the Top 10
Republican state senator will hold though they know the company at a very high level on all of the — because every town in the state
the role. “Normally, the governor never seeks that type of economic issues of the state,” one has to handle this issue. And he’s
will make sure someone from recognition. “Prudential does so person said. “And if the governor handling almost all of them.”
his party is there, but O’Toole is much for the city in so many ways, wants more startups and small
effective and well-liked, so who but never talks about it,” the insider companies, their biggest need is
knows?” said. “Most people are not aware of real estate.”
all they do in real estate.”


REAL ESTATE 2018 ROI Influencers
Professional Services

Jay Biggins Frank Giantomasi Chris Johnson Robert Klausner
Executive managing director Member Head coach Partner
Biggins, Lacy, Shapiro & Co. Chiesa, Shahinian & Giantomasi Hollister Construction Services Fox Rothschild

It’s hard to imagine doing a real His scope of knowledge in Newark “What are they doing?” one insider Long respected in the industry,
estate list without Biggins. At is hard to define. “Who knows asked — then answered — the Klausner makes the connections
least, that is the sentiment of his more about what’s happened question about the construction and does the little things that
many fans in the industry. “No one in real estate in Newark in the firm based in Parsippany. “What led to big wins. “Solid guy, great
better,” many said. “He’s helped put last 25 years?” one insider said. are they not doing? Hollister is knowledge, fantastic institutional
together more deals than people “Or, you can put it this way: Who everywhere in New Jersey.” The knowledge,” one insider said. Said
realize,” said another. “He’s just a knows more about everything full-service company is a go-to firm another: “There’s a reason he’s
guy that everyone consults with. that’s happened in Newark in the on a lot of projects. brought in on so many deals. He’s
It’s hard to match his knowledge last 25 years?” A solid and steady great at what he does and really
and experience.” attorney, Giantomasi seemingly is adds value.”
connected to all the key people and

Nevins McCann Jeffrey Otteau Paul Phillips Ted Zangari
Partner President Managing principal Member
Connell Foley Otteau Valuation Group Phillips Preiss Sills, Cummis & Gross

Longtime real estate lawyer is The tagline on his company Phillips returns to the list for his Viewed by some as the top real
involved in so much of the activity says, “Bringing Clarity to Real work in an area of the sector that’s estate lawyer in the state. Viewed
on the Gold Coast. “Solid, steady, Estate.” One insider said Otteau not always in the limelight. Many, by all as someone always one step
dependable, knowledgeable,” one is the master of that. “You want however, feels he’s worthy of a ahead of the game. Zangari, as
insider said. “I think lawyers don’t influence, how about this: For spotlight. “He’s the No. 1 planner versed in policy and regulations as
get enough credit for the work they all the work that is done to get in the state, whether it’s from anyone, was one of the first to see
do on these deals. They make a a project to the finish line, the the government side or from the the potential of Opportunity Zones
huge difference to the bottom line. research and the words of Otteau private side,” one insider said. “It’s as a game-changer in the industry
Nevins is one of those people who — presented in plain English — as simple as that.” and has positioned himself and
does that.” often is the deciding factor for Sills at the front of the pack. “If this
planning boards considering a is the next big thing, and I think it
project. That’s influence.” will be, it will be another thing that
separates Ted from the pack,” an
insider said.