Philip Rothenberg, a Jackson Cross Broker, presents the 2011 SIOR Scholarship to Maximillian Marine, a Real Estate Major at Temple University’s Fox School of Business

40,000 SF NORTH WALES, PA FACILITY

(May 2011) – Jackson Cross Partners, LLC in cooperation with Colliers International today announced that Volpe Enterprises Inc. has purchased the 40,000 SF facility at 217 Church Rd Upper Gwynedd Township North Wales, Montgomery County, PA. The Church Rd site was the former home to Deluxe Corporation who had been a fixture in Montgomery County for over twenty years until closing their operation in 2009.

Gary and Richard Volpe founded Volpe Roofing, Inc. now known as Volpe Enterprises, in 1970, working out of their parent’s home in Plymouth Township, Montgomery County PA.. At that time, the company’s only business came from referrals and it handled only roofing work. In 1974, Gary bought his brother’s interest in the company. The following year, the company was incorporated and took out its first yellow page advertisement. When the company started doing siding work in 1977, business expanded rapidly and soon became too large for in home operations and bought its first warehouse.
In 1975, Gary formed Volpe Roofing, Incorporated. After graduating from Pierce Junior College with a Bachelor’s degree in Business, Gary and his wife Janet continued to grow Volpe Roofing, Inc to included siding, windows, gutters and doors. In 1993, Gary & Janet formed Volpe Enterprises, Inc. to encompass all facets of home renovation. Today, they are the General Manager & President of Volpe Enterprises, Inc. They are members on the panel for Professional Roofer’s Advisory Council, members of the Better Business Bureau and Pella Certified Contractors, and maintain a Select Shingle Roofer, 5-Star Contractor and Master Elite status with CertainTeed and GAF.

In the summer of 1996, Michael Volpe began working in the roofing division for Volpe Enterprises. Michael the oldest of three sons was promoted to the Senior Estimator position and is responsible for pricing and creating detailed proposals. In the summer of 1998, Stephen Volpe began working in the siding division of Volpe Enterprises; Stephen received his new title of Marketing/Systems Coordinator and is responsible for overseeing the sales division, marketing and IT department. In the summer of 2002, David Volpe started working in the siding division of Volpe Enterprises and since was promoted to Production Manager and is responsible for quality control and productivity of all renovation projects.

Continued demand for Volpe’s services forced them to move not once, but three more times for additional space between 1977 and present. The acquisition and expansion of the 40,000 SF Church Rd facility, in addition to their Worcester location on Germantown Pike will allow Volpe Enterprises to expand their presence into the Bucks, Lehigh and Southeastern area of PA. The new North Wales showroom with state of the art displays is planned said Gary Volpe- “Our new location in Upper Gwynedd will be completely refurbished in a way as to display some of the products we install when you view the building from the street. However, the best will be inside with walk through kitchen and bathroom displays and products you can see and touch. Our trained personnel will help design your dream project for your home. You can count on Volpe Enterprises to assist you with the smallest repair job or larger projects like an addition to your home. I encourage you to become part of the Volpe family of satisfied customers. Continued growth is expected as we build on our motto: Quality, Honesty, and Integrity”.

Nick Adams and Louis J. Battagliese, Jr., SIOR of Jackson Cross Partners, LLC represented the Seller, William and Joe Wildman. Michael Golarz and Barry Greenberg of Colliers International represented the Buyer Volpe Enterprises Inc.
The $1,825,000 Transaction was financed by Univest Bank of Souderton, PA.

King of Prussia, PA (May,2011) — Jackson Cross Partners announced today that they have been named exclusive agent for three office buildings in Harleysville, PA. The three buildings have a total of 58,282 square feet of available space. Two buildings are available for sublet; one building is available for sale.

“We are proud to have been named to market these three office buildings,” said John Morrissey of Jackson Cross Partners. “Each of the buildings offers unique characteristics and all are surrounded by numerous amenities desired by office tenants”.

The first office building, located at 480 School Lane, is a Class A, two-story office building. There is 26,527 rentable square feet available for long-term sublet.

The second building available for sublet is located at 483 Main Street. This building offers 26,305 rentable square feet of office space on two floors, with an additional 12,998 square feet of basement level storage space.

“Both 480 Main Street and 483 School House Lane provide great exposure at an excellent value for tenants,” said Keith O’Brien. “480 is that rare architectural gem that provides a tenant with immediate market presence, while 483 provides a traditional office feel with tremendous efficiency. Furniture is available and in excellent condition in both buildings.”

The third building, located at 474 Main Street, is for sale. This building provides 5,450 rentable square feet of office space on two floors.

“Built in approximately 1920, 474 Main Street is a tremendous purchase or lease opportunity for investors or tenants searching for unique space,” said Kyle O’Brien.

For more information please contact Keith O’Brien; 610.265.7700 ext 129

In February, 2011 Price Waterhouse Coopers (PWC) conducted a survey on the impact of GAAP and IFRS convergence, with a specific segment of the survey dedicated to the proposed changes to the standard for accounting for leases. With the scheduled release of the final standard in the second quarter of 2011, it is interesting how many businesses have not begun the process of evaluating or preparing for the impact of the changes. A few of the highlights of the survey are outlined below:

Highlights of PWC Survey on Impact of Proposed Changes to Lease Accounting

• 1,400 Respondents
• 62% >than $1.0B in Revenue
• 65% expect “High Level of Impact” on organization
• 63% expect to need additional resources
• 60% have not completed even a high level assessment or analysis
• 64% do not have a centralized system to track leases
• 60% are using a spreadsheet or manual system
• 9% have calculated an estimate of Lease obligations at the effective date
• 10% have educated most of the stakeholders outside finance
• 47% have performed a preliminary Lease inventory

While approximately two-thirds of respondents expect a high level of impact and will need additional resources for compliance and analysis, less than half have even performed a preliminary inventory of their leases. Only 10% have begun the process of analysis and education of the various stakeholders making leasing decisions in their organization.

There is still an element of “hopeful neglect” among many business leaders that these changes may be delayed, or may not even occur. However, the processes and information that would be necessary for compliance are also beneficial from an overall management standpoint. The preliminary exercise of assessment has pointed many businesses to focus on the fact that they are managing hundreds of millions of dollars in annual spending without functional systems. Sixty percent (60%) of respondents said that they were currently managing their leases with Excel spreadsheets! Since over 60% of respondents were multi-billion dollar companies, that should be a frightening revelation to any CFO.

A complementary question to the issue of systems is the location of the lease information. Only 36% of respondents said the information is in a central location. With the new standard having a significant impact on Profit & Loss and Balance Sheets from quarter to quarter, centralization of the information will be a critical component of compliance and strategic planning.

The uncertainty of the elements or timing of a final standard supports a measured approach to immediately committing resources to assess and analyze the potential impact. However, the base assessment of readiness and gathering of information will be critical not just to compliance, but also to planning and executing the best strategy for an individual business under the new rules.

Jackson Cross Partners’ Advisory Group has developed a Readiness Assessment as well as Analytical Modeling for corporate clients to begin the process of locating and building lease inventory, assessing information gaps and analyzing the financial impacts under various scenarios. JCP also specializes in office/industrial brokerage, property management, multi-family investment sales, as well as, advisory services.

Click Here for Additional Information on FASB Lease Accounting

For More Information, Contact:
Louis J. Battagliese, Jr. SIOR
ljb@jacksoncross.com

Catherine S. Sennett, Esq.
cseneett@jacksoncross.com

David B. Dilworth, Esq.
ddilworth@jacksoncross.com

King of Prussia, PA (March 2011) – Jackson Cross Partners, LLC today announced the signing of two long-term leases totaling 40,044 square feet with an aggregate value in excess of $4 million. The larger of the two leases was for 31,168 square feet in Blue Bell, PA and the second lease was for 8,876 square feet of office space in Wilmington, DE.

J & B Software signed a 31,168 square foot lease at 510 East Township Line Road in Blue Bell, PA in an 87,000 square foot building owned by Bressler & Reiner. “This lease was a lease restructure with J & B Software downsizing from 44,000 to 31,168 square feet,” said Keith O’Brien of Jackson Cross Partners. “This transaction is representative of the marketplace at large, where deals favorable to tenants are in abundance for strong credit tenants such as J & B Software.”

Keith O’Brien and Kyle O’ Brien of Jackson Cross Partners represented J & B Software. Newmark Knight Frank Smith Mack represented the building owner.

In the second transaction Keith O’Brien and Cindy Fleming represented Proctor Heyman LLC. This lease was for office space at 300 Delaware Avenue in Wilmington, Delaware’s central business district. Brandywine Realty Trust is the building owner.

“Proctor Heyman, a law firm, is growing and needed to relocate in order to better serve their expanding list of clients,” noted Keith O’Brien. J&B Software provides market leading systems for processing and managing automated electronic payments and other transactions to over 160 organizations worldwide.

J&B Software provides solutions to regional and money center banks, insurance companies, mutual funds, credit card processors, student loan processors, brokerage, telecom, utilities, government, transportation, media/communications, non-profit and commercial organizations. J&B processes more than 2 billion payments annually.

The law firm of Proctor Heyman LLC practices principally in corporate and commercial litigation before the Delaware Court of Chancery. The firm acts as both lead counsel and Delaware counsel in matters before Delaware state and federal courts, and works with some of the nations leading law firms. The firm handles a full array of corporate and commercial litigation matters, including corporate governance, mergers and acquisitions, stockholder class and derivative actions, fiduciary duties, stockholder appraisal actions, and litigation involving limited liability companies and limited partnerships. The firm also acts as Delaware counsel in intellectual property disputes in the United States District Court for the District of Delaware.

For more information please contact Keith O’Brien 610.265.7700 ext 129

March 2011

Jackson Cross was featured in the Spring 2011 edition of Pathways PA’s Family Focus Newsletter. They were named a Shooting Stars Club member by the Pathways to the Stars Annual Giving Society. Jackson Cross Partners has been an annual sponsor of Pathways PA for over four years. Click Here to View the Pathways PA Spring 2011 Newsletter

JACKSON CROSS ANNOUNCES NCC AUTOMATED SYSTEMS ACQUISITION

King of Prussia, PA (January 2011) – Jackson Cross Partners, LLC today announced that NCC Automated Systems has purchased a facility at 255 Schoolhouse Road, Franconia Township in Montgomery County, PA. The 28,844 SF building was constructed in 1999 and is situated on 10 acres of land.

NCC Automated Systems is a full service automation system supplier offering complete automation, packaging and turnkey material handling solutions in a wide variety of industries including food, optical, personal care and general manufacturing. “Since the company’s inception in 1986, when we were building custom conveyor equipment, the company has grown into supplying Completely Integrated Automation and Packaging Lines. We now offer very high level planning, engineering and project management services as well as start up and commissioning teams to supply an entire production line. This provides product manufacturers with complete systems fully integrated by a single supplier. Our credo is ‘Dependability of Promise ‘, this philosophy defines every decision that we make at NCC”, stated Kevin Mauger.

We have doubled our sales in the past few years and see the opportunity do it again in the next few. In this economy, it is great to have a team of dedicated employees who are so committed that it allows us to experience a time of growth while others are struggling.

Jackson Cross Partners, LLC represented NCC Automated Systems in their search for a new facility. Nick Adams worked closely with NCC to help pinpoint a facility that would allow the company to expand their operation in an area that was centrally located for their employees and customers alike. “The Schoolhouse Road facility will allow NCC to grow and continue the success that has made the company a dynamic force in their industry” said Nick Adams.

Joe Schwartz of Schwartz & Co. Realtors represented the Seller, Robert Weber, in this transaction.

For more information please contact Nick Adams:(610) 265-7700 ext 130.