the hayden herald - Hayden Real Estate Investments

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T H E H AY D E N H E R A L D
Volume 2, Number 1
Summer 2013
King of Prussia Renovations Underway
Two MIM-Hayden properties soon to reemerge as first-class state-of-the-art office buildings
welcoming tenants seeking extraordinary space close to the finest amenities
INSIDE
THE HERALD
EXTERIOR VIEW 1 - ENTRANCE
530/580 Swedesford Road
Wayne, Pennsylvania
An investment of more than $16 million
in base building renovations is now
being made to completely redesign,
reengineer and re-envision the two
previously existing buildings at 530 and
580 East Swedesford Road into 272,000
square feet of contiguous trophy-class
office space in a park-like setting.
CrossPoint will boast a conference
center, a 4,000 square foot fitness
center and a full-service café off a twostory, light-filled lobby featuring glass
elevators.
d2 solutions inc.
interior design & planning
2540 Renaissance Boulevard
Suite 100
King of Prussia, PA 19406
610.238.0330 p 610.238.0299 f
Formerly known as Walnut Hill Plaza,
150 South Warner Road’s exciting
improvements include a new, dramatic
entryway, as well as extensive lobby,
common areas and all-new rest rooms
renovations with new elevator cabs, and
new light fixtures.
Additional exterior upgrades include new
landscaping, a new monument sign, and
additional parking.
From Tony Hayden:
Chairman’s Message
2
Meet Michele O’Keefe
3
The Rafferty Corner
3
Property Profiles
4
Welcome to New Tenants
4
Tenant Spotlight
7
Hayden In the News
7
Route to
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2
T H E H AY D E N H E R A L D
Strategic Reinvestment to Meet Changing
Needs and Improve Your Experience
A Message from J. Anthony Hayden
As you can see from the cover photos, CrossPoint at Valley Forge
will be a truly spectacular office property, the result of a $16 million
investment (by MIM-Hayden Real Estate Funds in collaboration
with Boston-based The Davis Companies) in two, outdated King
of Prussia office buildings. Located on Swedesford Road, these
two buildings are now being combined to form one, contiguous,
272-thousand-square-foot corporate center. Only blocks away
from CrossPoint, renovations at our 150 South Warner Road office
building are now nearing completion (see the Renovation Schedule
included below).
Both of these office properties are excellent examples of our
reinvestment in the properties we own and manage ensuring
our existing – and future – tenants find the most comfortable,
efficient, inviting and affordable offerings from Hayden Real Estate
Investments. Learn more about the improvements we are making in
each of our properties on pages four through six of the Herald.
All of us at Hayden are very proud of each of our properties and
want your experience as tenants to be the very best it can be. Please
let me know how you think we’re doing. I always appreciate hearing
your thoughts.
150 South Warner Road
Renovation Schedule for 150 South Warner Road
Tenants recognize that completion is not far off now
RENOVATION SCHEDULE
To be completed Summer 2013
Restrooms
Newfinishes–floor,walls,ceiling,vanities,lightingandaccessories
New “European Style” compartments
Exterior
New entrance vestibule
Upgrade signage and landscaping
New building entrance
Improve parking lot and add parking spaces
RefinishbuildingexteriorandraiseselectwindowsatFloors3and4
Conceptual drawings are
completed for the new
“150 South Warner Road”
To be completed Fall 2013
Lobbies
New tenant directory
Newarchitecturalfinishes–floor,wallsandceiling
Upgradedelevators–mechanicalandinteriorofcabs
Newlightfixtures–includeslightsculptureinAtrium
Common Areas
Newfinishes–floor,wallsandceiling
New design for common area signs
Newfinishesandlightfixturesforelevatorlobbies
JANUARY 2013
05.03.2013
Completion of all renovations
FALL 2013
AUGUST 2012
MARCH 2013
The property formerly identifed as
“Walnut Hill Plaza” is acquired by
MIM-Hayden Funds.
Final plans are drawn for all proposed renovations and
Renovation Schedule is prepared
3
The Rafferty Corner
From Ray Rafferty
Executive Vice President
Hayden Management Company
With several of our assets undergoing
significant renovations, Hayden is
reinvesting for the benefit of both
its investors and tenants. In 2013
alone, we are projecting base building
improvements across our portfolio in
excess of $20 million dollars. While
this clearly increases the value of the
buildings in an effort to maximize the
investment, it is also important to note
that our goal is to improve the work
environment and overall life, work
experience of our tenants who occupy
these buildings.
It is not uncommon for Hayden
personnel to be stopped in a building
hallway by a tenant employee and to be
thanked for the dramatic improvements
that have been made. Personally, I
even had a tenant approach me and say:
“Thank you, I now enjoy coming to work
every day.” That’s a powerful statement
and wow, few things could be more
rewarding to hear!
Our building located 150 S. Warner
Road in King of Prussia as an excellent
example. Base building renovation in
2013 will exceed $1.5 Million and include
all new restrooms with European style
stalls, new elevator controls and cabs,
upgraded HVAC system, renovated
common corridors, new lobby design
and entrance vestibule, enlarged window
lining, exterior paint, new monument
signage and a new, expanded parking lot.
“One thing I really admire and enjoy
about Hayden is that the improvements
we do improve the tenants’ experience.
Things like HVAC, restrooms, elevators
and parking are part of a tenant’s
daily life and when we improve them,
we improve the tenant’s life in a very
practical way. It also often comes with
some positive feedback, which is always
nice to hear!” Michele O’Keefe told the
Herald.
Our goal is to continue to improve the
buildings we own and manage and
to also grow and improve our tenant
relationships. In the coming days, please
keep an eye out for a visit from our
team. We are interested to hear how you
are doing and what your needs are. As
always, we look forward to serving you!
Meet Michele O’Keefe
Michele is a Real Property Administrator
(RPA), a designation she earned through
the Building Owners and Managers
Association (BOMA), an organization of
which she has been a member for many
years and has served in various roles,
including Chairperson for the BOMA
TOBY Committee.
Building Manager
Hayden Management Company
Michele O’Keefe serves as Building
Manager for Hayden Management
Company.
Michele is a new addition to the team,
having joined Hayden after 30 years in
the business and eleven of those years
with Brandywine Realty Trust. At
Brandywine, Michele served in various
building management roles and oversaw
the operations of several hundred
thousand square feet of office space in
buildings throughout the region.
Now, at Hayden, Michele is primarily
responsible for the oversight of the Five
Tower Bridge and 150 S. Warner Road
office buildings, as well as approximately
600,000 square feet of industrial real
estate in Aston, PA and Bordentown, NJ.
“Hayden is a growing organization and
owns some of the premier office and
industrial real estate in the country. I am
thrilled to have the opportunity to bring
my many years of industry experience to
the table,” Michele told the Herald.
Michele recently tested the newly installed Tech Bar
in the lobby of Five Tower Bridge. “The view is so
spectacular it might be difficult to concentrate on work.
Enjoying lunch here is probably the better idea!.”
4
99
835 and 855 Springdale Drive
Whiteland Business Park
Exton, PA
North Point Office Tower
at Marsh Creek Corporate Center
Exton, PA
The Springdale Drive properties include
748, 835 and 855 Springdale Drive.
North Point Office Tower is a fourstory office building of extraordinary
value in accommodations, affordability,
amenities and location.
Terri Ingram, Building Manager
The 835 building was the more recent
acquisition in December of 2011. The
building is approximately 55,000 SF of
office space and mirrors its neighboring
sister building 855. The building was
in a distressed state under previous
ownership and was over 50% vacant at
the time of sale.
\
Under Hayden ownership, the
835 building renovations included
refurbished exterior, new windows,
lobby upgrades, renovated restrooms
and fresh landscaping. The building
is now 85% leased with the welcomed
additions of American Telecast
Products (14,437 SF) and Health
Advocate, Inc. (17,087 SF).
748 Springdale Drive
748 Springdale Drive is approximately
15,000 SF and home to the County
Court of Chester, as well as other
tenants such as Altek, Maxim Health
Care and Brandywine Photonics.
With the newest tenant addition,
Earth Data Northeast, the building is
now 100% leased. Additional planned
improvements for the building include
parking lot sealing and striping and
fresh landscaping.
Terri Ingram, Building Manager
Renovation of North Point’s main lobby
has been completed including new
lighting, paint, ceiling tiles, directory
signage and elevator cab upgrades.
Five Tower Bridge
West Conshohocken, PA
Michele O’Keefe, Building Manager
The MIM-Hayden Real Estate Fund
acquired Five Tower Bridge in
partnership with Boston-based The
Davis Companies in January of 2012.
The eight-story, 220,000 SF, office tower
is located in West Conshohocken, PA
and is the premier office building in the
suburban market place.
The building is currently nearly 100%
occupied and is home to high-profile,
well-known tenants, such as Oracle,
Keystone Foods and Hirtle Callaghan.
Marsh Creek Suites
at Marsh Creek Corporate Center
Exton, PA
Terri Ingram, Building Manager
In addition to the North Point Office
Tower, The Marsh Creek Corporate
Center includes four, one-level
buildings of office suites. The combined
center comprises over 280,000 SF of
mixed use, office space and is located
in Exton, PA at the intersection of
Routes 100 and 113.
With access to the Pennsylvania
Turnpike and other major
thoroughfares, the property combines
affordable rental rates with excellent
location.
Tel: Fax: 484.872.8022
484.872.8442
Email: [email protected]
Under Hayden ownership, several
improvements have already been
completed including parking garage
repairs and re-carpeting of the
elevators. Recently, the main lobby
was redesigned to include new
furniture and new laptop bar sitting
area that overlooks the waterfront.
7000 Gateway Court
Manassas Park, VA
Michele O’Keefe, Building Manager
The MIM-Hayden Fund acquired
7000 Gateway Court located in
Manassas, VA. With excellent frontage
and visibility along Interstate 66,
the 120,000 SF building offers both
warehouse and mezzanine office
space.
Current improvements to the
property include power washing of
the exterior, landscaping upgrades,
sealing and striping of the parking
area and renovation of the monument
sign to better identify the tenants and
location.
5
Mearns Park
Warminster, PA
Allentown Boulevard
Distribution Center
Harrisburg, PA
Cascade Park at
Lehigh International Airport
Allentown, PA
The MIM-Hayden Fund acquired
Mearns Park located in Warminster, PA
in September of 2011.
This Center consists of three buildings,
totaling 280,000 SF of retail and
industrial space.
The large, 305,000 SF, mixed-use
industrial park was in receivership
at the time of acquisition and had
significant deferred maintenance. Since
acquisition, Hayden has conducted
major capital improvements including
roof replacement, parking lot repaving,
new exterior paint, landscaping
upgrades, new parking lot lighting and
fresh interior paint and ceiling tiles.
A lease with Cummins Power has been
recently executed at 8051 Allentown
Boulevard which has recently
undergone significant improvements
including new exterior paint, parking
lot, landscaping, drive-up ramps,
awnings, and store front glazing.
The MIM-Hayden Real Estate Fund
acquired 200 Cascade Drive in August
of 2011 and subsequently acquired 100
Cascade in December of that year.
Bill McFadden, Building Manager
Terri Ingram, Building Manager
Pierce Aluminum joined the roster of
Mearns Park tenants in November with
their lease for 42,000 SF of flex space.
Mearns Park is now 85% leased.
Neighboring properties 6295 and
6305 Allentown Boulevard are
100% leased with the following new
tenants: American Freight, Goodman
Distribution and Floor Pro. This new
and improved retail and distribution
center has excellent visibility from
Allentown Boulevard and is equipped
with a new sixteen foot pylon sign
facing the boulevard, an increased
parking area and fresh exterior paint.
Joe Greenhalgh, Building Engineer
The combined 400,000 SF mixed-use
industrial park is located adjacent to
the Lehigh Valley Airport in Allentown,
PA. Since acquisition, the park has
undergone significant improvements,
including roof repair, gutter
replacement, downspout replacement,
exterior paint, parking lot repaving and
curb installation.
At 200 Cascade, Hayden is currently
overseeing the phased build-out
of 150,000 SF of warehouse and
office space for Victaulic, a global
manufacturer and distributor of piping
products. The project includes parking
lot and landscaping improvements as
well as new monument signage.
At 100 Cascade, the former Tama
Manufacturing plant, Hayden has
successfully completed the build out of
a combined 156,676 SF for Fragrance
Manufacturing Incorporated (FMI,
106,386 SF) and Kinsely Construction
Inc. (50,280 SF).
Recently, The Center for Humanistic
Change leased the remaining 5500 SF
of office space at 100 Cascade, bringing
the entire 400,000 SF industrial park to
100% leased.
Central Crossings
Bordentown, NJ
Michele O’Keefe, Building Manager
Central Crossings Business Park
is located within the East Coast’s
growing distribution hub at New Jersey
Turnpike Exit 7, and features access to
both a strong and stable labor pool and
area amenities to suit business needs.
Located with a Foreign Trade Zone,
Central Crossings allows businesses to
think beyond the present and into the
future.
With flexible space and occupancy
options, Central Crossings is like no
other opportunity.
Current improvements to the property
include power washing of the exterior,
landscaping upgrades and installation
of a new monument sign to identify the
location.
T H E H AY D E N H E R A L D
Published quarterly for the benefit of
tenants, investors, partners and vendors.
Kindly direct inquiries and comments to
Stephanie Hayden at
[email protected] or
call 484.362.2929.
© 2013, Hayden Real Estate Investments, LLC
6
OaklandsCorporateCenter.com
105 Commerce Drive
Oaklands Corporate Center
Exton, PA
Terri Ingram, Building Manager
I-95 Philadelphia Industrial Corridor
Delaware and Bucks Counties, PA
Michele O’Keefe, Building Manager
Claire Huffman, Building Manager
Joe Greenhalgh, Building Engineer
The I-95 Industrial Corridor
acquisition was completed by the
MIM-Hayden Fund on February 22,
2013. The purchase included a fourbuilding industrial portfolio totaling
961,347 SF and a prime 18-acre
development parcel.
The properties are strategically located
in established industrial parks along
Interstate 95 in Delaware County and
Bucks County, Pennsylvania.
105 Commerce Drive along with
20 and 30 McDonald Boulevard and the
18-acre development parcel are located
in the I-95 Campus Industrial Park in
Aston, Delaware County, PA.
3600 Progress Drive is located in
the Expressway 95 Business Park,
Bensalem, Bucks County, PA.
Welcome to our
newest tenants
835 Springdale Drive
Health Advocate, Inc.
150 South Warner Road
Unilife Medical Solutions
The Philadelphia Group, LLC
NorthPoint at Marsh Creek Corporate Center
Transformatech, Inc.
Marsh Creek Suites
MyStay, Inc.
100 Cascade Drive
Center of Humanistic Change
7000 Gateway
Albert Tire, Inc.
435 Creamery Way
Genesis Machinery Products, Inc.
The MIM-Hayden Real Estate Fund,
in a joint venture with The Davis
Companies, acquired eleven Oaklands
Corporate Center properties, including:
111 Arrandale Boulevard
481 John Young Way
468 Thomas Jones Way
486 Thomas Jones Way
412 Creamery Way
435 Creamery Way
436 Creamery Way
440 Creamery Way
456 Creamery Way
457 Creamery Way
467 Creamery Way
I-95 Baltimore Washington
Industrial Corridor
Maryland
(Managed by Colliers International)
These newly acquired properties,
located at 8210 Wellmoor Court,
Jessup, Maryland (108,480 SF), 4615
Hollins Ferry Road, Halethorpe,
Maryland (121,825 SF) and 9325
Snowden River Parkway, Columbia,
Maryland (475,074 SF), total just over
705,000 square feet.
Under Hayden Ownership,
improvement plans include the
expansion of a major existing tenant,
exterior painting, parking lot repairs
and significant HVAC improvements.
With the planned expansion of the
existing tenant, the portfolio will be
100% leased.
Several Hayden Properties have newly available space for lease today.
For more information and a personal tour of spaces that may interest you, kindly contact:
484.362.2929
H AY D E N
Real Estate Investments
7
Tenant Spotlight
Bunzl Plc.
HAYDEN IN THE NEWS
MIM-Hayden Real Estate Funds Acquires Industrial Portfolio
Bunzl Plc. is a leading specialist
distribution company supplying a broad
range of non-food consumable products
that are essential for its customers to
operate their businesses but which they
do not actually sell.
Bunzl’s main customer
markets include grocery,
foodservice, cleaning
and safety, non-food
retail and healthcare.
The company’s origins date back to
1854 when Moritz Bunzl opened a small
haberdashery business in what is now
the capital of Slovakia. Incorporated
in 1940 and listed on the London stock
exchange in 1957, Bunzl now spans four
continents and operates in 27 countries,
including the United States, Europe, the
United Kingdom and Ireland.
“By outsourcing the purchasing,
consolidation and distribution of a broad
range of non-food consumable products,
our customers are able to focus on their
core businesses as well as achieving
purchasing efficiencies, freeing up
working capital and simplifying their
internal administration and, as a result,
increasing their efficiency and improving
their competitiveness.”
– Michael Roney
Chief Executive of Bunzl
Bunzl currently occupies more than
388,000 SF of industrial space at
Hayden’s I-95 Industrial Park located at
3600 Progress Drive in Bensalem, PA.
Recently, Hayden has been working
closely with Bunzl to improve both the
interior and exterior of its building and
extend its tenancy for several more years
to come.
Bunzl continues to grow and expand its
presence in both the United States and
abroad by working with top international
brands as well as local suppliers, to
ensure that customers have access to
the best and most suitable products
to meet their needs. Hayden looks
forward to this continued growth and the
opportunity to serve Bunzl’s expanding
business needs.
Three, multi-tenant buildings in the Baltimore-Washington Corridor purchased
Conshohocken, PA, July 9, 2013 – Miller
Investment Management and Hayden
Real Estate Investments, partners in
MIM-Hayden Real Estate Funds, have
announced the Fund’s addition of three
industrial properties strategically located
in the heart of the Interstate 95 BaltimoreWashington Corridor. Closing took place on
June 18, 2013.
The properties, located 8210 Wellmoor
Court, Jessup, Maryland (108,480 SF), 4615
Hollins Ferry Road, Halethorpe, Maryland
(121,825 SF) and 9325 Snowden River
Parkway, Columbia, Maryland (475,074 SF),
total just over 705,000 square feet and are
nearly fully leased.
“This portfolio’s location, the buildings’
highly competitive industrial uses and
the limited availability of similar assets
in such a highly desirable growth market
make these properties ideally suited to the
Fund’s investment strategy. This acquisition
gives the Fund a significant presence in
the Baltimore Washington Corridor with
one transaction. It continues to strengthen
our chosen footprint that extends from the
Greater Philadelphia Area south through
the area surrounding Washington DC.
We are very pleased to have brought this
transaction to a successful close quickly,”
stated Anthony J. Hayden, Principal of both
Hayden Real Estate Investments and MIMHayden Real Estate Funds.
MIM-Hayden Fund I is now invested in
32 properties and has several significant
acquisitions planned for the near future.
Philadelphia Business Journal’s “40 Under 40” Awards
Anthony J. Hayden recognized as an outstanding leader in the Philadelphia Market
Tony jokes at the 40 Under 40 Talent Show
Annually the Philadephia Business Journal
honors the most accomplished young
businesspeople in the Delaware Valley. This
year, Tony Hayden, Jr. was hand-picked
from a field of more than 250 nominees
and was recognized along with 39
colleagues on May 22nd at a well-attended
gathering at the Crystal Tea Room in the
Wanamaker Building. Tony’s outstanding
business success and contributions to the
Philadelphia area community were cited.
Shuttle Bus Service Connects King of Prussia Offices with
SEPTA Rail at Norristown and Wayne
King of Prussia Business District launches theConnector; MIM-Hayden Funds Sponsor
theconnector is an exciting new commuter
shuttle bus service for King of Prussia
business park employees. theconnector
links the King of Prussia business park
to Regional Rail at the Norristown
Transportation Center and Wayne Station
during the AM and PM rush hours. The
comfortable 14-passenger shuttles have
free Wi-Fi, bicycle racks and are ADA
compliant.
Hayden Real Estate’s Taylor Young represents shuttle
sponsor MIM-Hayden Real Estate Funds addressing
those assembled for the ribbon cutting on July 9th
Hayden’s tenants at 150 S. Warner Road
and, in the future at CrossPoint, will benefit
from this convenient new service as well as
half-price fares available only to sponsors’
tenants.
Here’s a friendly reminder to please...
Turn off your computer
Turn off appliances (coffee makers and fans)
Turn off electronics (monitors and radios)
Turn off machines (printers and copiers)
Turn off office lights
Keep your thermostat at ENERGY STAR
recommended levels
You can easily save energy in the winter by setting
the thermostat to approximately 68°F while you’re
in your office and setting it lower while you’re away
from your office.
In the summer, lower the thermostat setting to
approximately 78°F only when you are in your office
and need cooling.
Pursuing a
greener world
As an integral part of our commitment to our tenants and the environment,
Hayden Management is contributing in a very positive way to the communities in
which we operate. We are always furthering our efforts to follow environmentally
friendly business practices. Our aim is to save natural resources by reducing
consumption, reusing products and recycling waste when possible, supporting
a cleaner environment and encouraging an always-greener approach to doing
business.
Throughout the Hayden organization, we are pursuing a greener world.
H
AY D E N
Management Company
Hayden Management, Co., LLC
Oaklands Corporate Center
412 Creamery Way, Unit G
Exton, PA 19341
Tel: Fax: 484.872.8022
484.872.8442
Email: [email protected]
Revised 07.17.2013

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