Press

August 2015 - House of Sports (Ardsley, NY) Acquisition

American Skating Entertainment Centers Teams Up with Robert Martin Company and Diamond Properties to Acquire the House of Sports in Ardsley, NY

Elmsford, NY – August 20, 2015

American Skating Entertainment Centers, LLC, (“ASEC”) the largest independent owner/operator of ice skating and indoor sports facilities in the United States, has partnered with Robert Martin Company and Diamond Properties to acquire the House of Sports. Constructed in 2012, the House of Sports is a 100,000 square foot, state-of-the-art indoor sports facility offering lacrosse, basketball, soccer, baseball, volleyball, camps, birthday parties, and Athletic Republic performance training.

“We are extremely excited about the opportunity to purchase this incredible sports property, accelerating our growth and demonstrating our commitment to Westchester County”, stated Shane Coppola Chairman and CEO of ASEC. “House of Sports will complement our successful Westchester Skating Academy and Playland Ice facilities allowing us to continue to provide the best sports and recreation experiences for the residents of the County and the tri-state region. We will leverage our experience and reputation for outstanding customer service to transform House of Sports into the most popular and well-respected indoor sports business in the United States.”

Frank Lombardy, General Manager of House of Sports, commented, “I truly believe that this is a great opportunity for our customers, coaches, employees, and partners. Under ASEC’s leadership, best-in-class customer service, and operating standards, we are confident that we can take House of Sports to the next level. We will continue to offer all of our sports programming and work more proactively to attract Westchester-based youth sports organizations to our facility.”

To learn more about the House of Sports, please visit http://houseofsportsny.com or call Frank Lombardy, General Manager, at 914-479-5419.

About ASEC

Founded in 2006, ASEC is the largest owner/operator of ice skating and indoor sports facilities in the United States. Headquartered in Westchester County, NY, ASEC operates 17 facilities in New York, North Carolina, Georgia, Texas, Arizona, and California, including the iconic Toyota Sports Center in Los Angeles, which is home to the LA Kings and LA Lakers. For more information on ASEC, please visit our corporate website at http://www.asecllc.com.

About Robert Martin Company

Robert Martin Company, headquartered in Elmsford, NY, has been a leader in real estate investment, development and management for over 55 years. Emerging from its start as a local home builder and becoming, for several decades, Westchester County’s largest diversified developer and builder, Robert Martin Company has developed and acquired over 20 million square feet of real estate across virtually every asset class. Today, RMC and its affiliates continue to hold real estate that includes office, retail, industrial, residential and undeveloped land, as well as investments in service, utility and restaurant (predominantly Dunkin Donuts) businesses.

About Diamond Properties

Diamond Properties is commercial real estate business located in Mount Kisco, New York that focuses on the acquisition of commercial properties with potential for substantial improvement through hands-on property management, market repositioning, and capital upgrades. Since Diamond Properties was founded in 1993, they’ve acquired 58 properties, including office, warehouse, retail, residential, and land in 5 states, and they currently own 44 of those properties, totaling in excess of 3,700,000 square feet. They continue to pursue an intense capital improvement and leasing program that, when combined with quality-driven customer service, has enabled them to deliver consistently high tenant satisfaction and lease renewal rates.

May 2014 - Acquisition of 121 Westmoreland Avenue in White Plains

Local Real Estate Firms Acquire 50,000 Square Foot Office/Flex Building in White Plains

White Plains, NY – May 20, 2014

RM MAG Westmore, LLC announced today that it has acquired a vacant office/flex building located at 121 Westmoreland Avenue in White Plains. The 0.78 acre property is located just a half mile from the White Plains Metro North Station and is improved with a 50,000 square foot, 6-story building. The new owner is a partnership of principals of Robert Martin Company, LLC and MAG Real Estate Advisors, Inc., and the acquisition is their third joint venture in the last 18 months.

Jeremy Frank, Director of Acquisitions at Robert Martin Company, stated, “a wide variety of adaptive reuses are being considered for this extremely well-located property”. Michael Grossman, principal of MAG, added, “the building features loft type space with high ceilings, efficient floor plates, and loading accessibility. The physical characteristics and location make it appealing for a variety of uses including office, showroom, studio, storage and multi-family”.

Robert Martin Company has been a leader in real estate investment, development, and management for over 55 years and has developed and acquired over 20 million square feet of real estate across virtually every asset class. Today, RMC and its prestigious partners hold a portfolio that includes millions of square feet of office, retail, industrial, and residential properties. The Company also has significant holdings of prime undeveloped land, ensuring its continued success in the development and management of commercial properties in the New York Metropolitan region.

MAG Real Estate Advisors, Inc. is a real estate investment and advisory firm headed by Michael Grossman, a real estate executive with more than 28 years experience in commercial real estate management, leasing, marketing, investment, development and construction. MAG Real Estate Advisors currently owns and manages over a half million square feet of industrial and office/flex properties in the New York Tri-State area.

October 2014 - Sale of 100 Brook Hill Drive

October 2014 – Sale of 100 Brook Hill Drive

 WEST NYACK, NY – October 9, 2014

RM MAG West Nyack, LLC, a joint venture of principals of Robert Martin Company, LLC and MAG Real Estate Advisors, Inc., announced today that it has completed the $36,000,000 sale of 100 Brook Hill Drive in West Nyack, NY.  The partners had purchased the 489,000 square foot building in December of 2012 for $25,150,000, when it was just 40% occupied, and repositioned it as a multi-tenant distribution facility.  The property, which is fully air conditioned and sits on 36.7 acres, is now 100% occupied by three tenants.

CBRE, Inc. represented the seller and procured the buyer in the all-cash transaction.

Headquartered in Elmsford, New York, Robert Martin Company has been a leader in real estate investment, development and management for over 55 years. Emerging from its start as a local home builder and becoming, for several decades, Westchester County’s largest diversified developer and builder, Robert Martin Company and its affiliates have developed and acquired over 20 million square feet of real estate across virtually every asset class. Today, RMC and its prestigious partners hold a portfolio that includes millions of square feet of office, retail, industrial, and residential properties. The Company also has significant holdings of prime undeveloped land, ensuring its continued success in the development and management of commercial properties in the New York Metropolitan region.

MAG Real Estate Advisors, Inc. is a real estate investment and advisory firm headed by Michael Grossman, a real estate executive with more than 27 years of experience in commercial real estate management, leasing, marketing, investment, development and construction. He previously served as Executive Vice President of Mack-Cali Realty Corp., the nation’s fifth largest office REIT and was Vice President of Robert Martin Company prior to its merger with Mack-Cali in 1997. MAG Real Estate Advisors’ focus is on value-add industrial, office/flex and medical office properties in the New York Tri-State area.

December 2013 - Acquisition of 70 Red Schoolhouse Road in Chestnut Ridge

December 2013 - Westchester Real Estate Firms Acquire Multi-Tenant Flex Property in Rockland County

December 2013 – Chestnut Ridge, NY

A joint venture of principals of Robert Martin Company, LLC and MAG Real Estate Advisors, Inc. purchased a 32,000 square foot multi-tenant flex building located in Chestnut Ridge, New York.

RM MAG Chestnut, LLC acquired the fully-leased building, located at 70 Red Schoolhouse Road, from PII Chestnut Ridge Realty, LLC.  The approximately 2 acre site is conveniently located within a half-mile of the intersection of I-87/I-287 and the Garden State Parkway and the property features multiple drive-ins and loading docks and ample parking.  Building tenants include Clemente’s Baseball and Softball Academy, Jade International Trading Co., and H&W Door & Hardware.

Michael Grossman, principal of MAG, stated, “we saw an opportunity to create value with this well-located property especially given its loading capabilities and ceiling heights, which range from 12’ to 30’ clear.  The property easily accommodates a wide range of tenant uses as evidenced by the current occupancy which includes office, distribution, and an indoor sports academy.  We are currently planning a series of building upgrades to further enhance the property’s utility and create value”.

Greg Berger, Managing Director and Partner of Robert Martin Company, said of the purchase, “We are very experienced in managing industrial assets and are excited to add another property in Rockland County to our portfolio. With this acquisition we and our partners now own approximately 1.7 million square feet in Rockland County, and we will continue to target industrial acquisitions throughout New York, New Jersey and Connecticut.”

Kenneth Lundberg of NAI James E. Hanson represented the seller and Jeff Kolodkin of Newmark, Grubb, Knight, Frank represented the purchaser.

Robert Martin Company has been a leader in real estate investment, development, and management for over 55 years and has developed and acquired over 20 million square feet of real estate across virtually every asset class. Today, RMC and its prestigious partners hold a portfolio that includes millions of square feet of office, retail, industrial, and residential properties. The Company also has significant holdings of prime undeveloped land, ensuring its continued success in the development and management of commercial properties in the New York Metropolitan region.

MAG Real Estate Advisors, Inc. is a real estate investment and advisory firm headed by Michael Grossman, a real estate executive with more than 28 years experience in commercial real estate management, leasing, marketing, investment, development and construction. MAG Real Estate Advisors currently owns and manages over a half million square feet of industrial and office/flex properties in the New York Tri-State area.

December 2013 - Blue Hill Plaza (The Journal News)

December 2013 – Landlords spend millions to attract office tenants with upscale cafes, gyms

December 17, 2013 – Abundant, empty office space is prompting landlords to spend millions of dollars upgrading their buildings’ amenities to lure tenants.

The improvements include new cafeterias, gyms and perks like concierge services in the many corporate parks stretching from Westchester County’s eastern shore to Rockland County. The competition for tenants means office landlords have to make space in their buildings for daycare, hair salons and even espresso bars and car washes.

Landlords are also putting money into their properties because there are millions of empty square feet of commercial and office space in the region, which means renters can be picky when choosing a location.

“Those amenities are critical,” said Tim Jones, a managing member of the Robert Martin Company, which owns the Blue Hill Plaza in Pearl River, an office complex with a gym, bank, daycare, cafeteria, hair salon and a sundries store.

Jones estimated that the company spent about $200,000 this year upgrading the Vision Sports Club at Blue Hill and within the past year it also updated its hair salon and daycare space.

“For us to maintain our competitive position in the market, we think we have to continue to make these sorts of investments,” said Jones.

One of the bigger renovation projects comes courtesy of Normandy Real Estate, which has invested more than $30 million since 2010 on the ongoing renovation of The Exchange, a multi-building complex in Harrison. The rehabilitation included a new bistro and lobby at 701 Westchester Ave. and cafe enhancements at some of The Exchange’s other buildings.

In the first four months of this year, Heritage Realty Services spent about $1.2 million renovating its cafe and conference center at 2 Westchester Park Drive, formerly the Gannett office park in West Harrison. The new cafe aims for a more trendy, European dining experience served by a locally based food-service operator, said George Constantine, Heritage’s president and chief executive officer.

“Having somebody local that understands and works closely with us is very important,” said Constantine, of Scarsdale. “We’ve rented over 75,000 square feet because of the new cafe.”

The cafeteria, rechristened the Park Cafe, has a spacious mid-century modern design with white tables, white chairs and reddish-orange geometric accents that recall a lounge from the television show “Mad Men,” minus the flat-screen television on a wall.

The trendy white accents are a hallmark of several recent renovations, including the kitchen/amphitheater at the new Mindspark headquarters in downtown Yonkers and the NoMa Social restaurant and hotel lobby at the Radisson in downtown New Rochelle.

On Dec. 4, Constantine said he had 20,000 square feet of new lease commitments at Westchester Park Drive, which he also credited to the renovation, which included new restrooms.

Jon A. Dorf, managing partner at Dorf & Nelson, moved his practice into 555 Theodore Fremd Ave. in Rye about 18 months ago. Faros Properties renovated the cafeteria there during the summer and rebranded it as Kitchen 555, with chef Ross Goldflam overseeing the operation.

Dorf praised Goldflam’s service and he said that a quality cafeteria is important to his business.

“For our type of organization, where much of the time is spent in the office either preparing for a transaction or trial, the amenities play a critically important role. In addition to the cafe, Faros Properties provides a state-of-the-art gym, which gets much use,” said Dorf.

Faros Properties spent more than $1 million upgrading 555 Theordore Fremd Ave. in 2012, including a new gym, lobby and conference center. The company will also begin renovating the kitchen at 120 Bloomingdale Road, which will also be run by Goldflam, who for 10 years worked as the executive chef at DiBari’s Catering in River Vale, N.J.

At Blue Hill Plaza, Tom Ruderman, the head of human resources at Active International, popped into the Vision Sports Club for a lunchtime workout on Dec. 5.

Ruderman, 55, of White Plains, said the gym renovation was a significant improvement that brought in new cardio equipment and made the gym look cleaner and more vibrant.

Active International has an active wellness program that encourages its employees to exercise and the Vision Sports Club is critical to his company’s initiative and employees, said Ruderman.

“A facility in the building a five-minute walk from most of their desks is huge,” said Ruderman. “It takes away one of the biggest excuses people have — that they don’t have time or it’s not convenient.”

October 2013 - Sale of 55 Miracle Mile in Coral Gables

October 2013 – CF Miracle Mile LLC Completes Sale of 55 Miracle Mile in Coral Gables, Florida

Coral Gables, Fl. (October 22, 2013) – CF Miracle Mile LLC, a joint venture of the principals of Elmsford, NY-based Robert Martin Company, LLC and certain funds managed by affiliates of Fortress Investment Group LLC (NYSE: FIG), announced today that it has sold the commercial condominium units of the Ten Aragon Condominium. The property, known as 55 Miracle Mile, includes over 66,000 square feet of premier retail and office space along the Miracle Mile in Downtown Coral Gables along with 402 spaces in the mixed-use project’s parking garage. The property was purchased for $26,750,000 by a Miami-based investment group. Douglas Mandel of Marcus and Millichap represented the seller in this transaction.

55 Miracle Mile is currently occupied by a diverse roster of tenants that includes HSBC Bank, ESRI Global, Design Within Reach, Tarpon Bend, and Cibo Wine Bar. CF Miracle Mile LLC originally acquired the property in December 2011.  “Since we partnered with Fortress on this investment, we have maximized the value of 55 Miracle Mile as one of the prominent properties in Coral Gables and a destination for wonderful dining and retail,” said Greg Berger, a partner at Robert Martin Company.  “We will continue to target value-add investment and development opportunities, primarily in the  NY-Metro area.”

About Robert Martin Company

Headquartered in Elmsford, New York, Robert Martin Company has been a leader in real estate investment, development and management for over 55 years. The Company and its affiliates have developed and acquired over 20 million square feet of real estate across virtually every asset class and currently hold a portfolio that includes millions of square feet of office, retail, industrial, and residential properties in seven states. The Company also has significant holdings of prime undeveloped land, ensuring its continued success in the development and management of commercial properties in the New York Metropolitan region.

January 2013 - Acquisition of 100 Brook Hill Drive in West Nyack

January 2013 – 100 Brook Hill Drive Acquisition

WEST NYACK, NY – On December 31, 2012, a joint venture of principals of Robert Martin Company, LLC and MAG Real Estate Advisors, Inc. purchased the 489,000 square foot Cambridge University Press Distribution Center in West Nyack, New York.

RM MAG West Nyack, LLC acquired the building, located at 100 Brook Hill Drive in West Nyack, from Cambridge University Press. The property sits on 36.7 acres and features 26-foot clear ceilings, fully air-conditioned space, and 30 loading docks.

Michael Grossman, principal of MAG, stated, “Although the property was only 40% occupied when we reached an agreement with Cambridge University Press, we were confident that it would lease well because of its efficient design and excellent location. It is now 80% leased.”

Tim Jones, managing member of Robert Martin, said of the purchase, “We have had excellent experience with industrial buildings and are very bullish on Rockland County where we have owned the 1.1 million square foot Blue Hill Plaza for over 15 years. We were very pleased when Michael, who we’ve worked with for over 20 years, asked us to participate in this acquisition.”

The purchase was financed by Webster Bank and Crexus, both of whom have recently completed other Robert Martin-sponsored transactions.

Cambridge University Press was represented by James Tully, executive vice president of CBRE, Inc. No terms of the purchase were announced.

Robert Martin Company, LLC is a 53-year old real estate development company based in Westchester County, NY, whose principals have acquired and developed more than 20 million square feet of properties. Robert Martin’s active managers are Robert Weinberg, Timothy Jones and Greg Berger. The company currently has active projects in New York, New Jersey, Connecticut, Florida, North Carolina, South Carolina and California.

MAG Real Estate Advisors, Inc. is a real estate investment and advisory firm headed by Michael Grossman, a real estate executive with more than 27 years experience in commercial real estate management, leasing, marketing, investment, development and construction. He previously served as Executive Vice President of Mack-Cali Realty Corp., the nation’s fifth largest office REIT and was Vice President of Robert Martin Company prior to its merger with Mack-Cali in 1997. MAG Real Estate Advisors’ focus is on value-add industrial, office/flex and medical office properties in the New York Tri-State area.

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January 2012 - Ten Aragon Recapitalization

Ownership of Ten Aragon in Coral Gables Announces Recapitalization

Coral Gables, Fl. (January, 2012) – Robert Martin Company, operator of  Ten Aragon,  a 511,701-square-foot mixed-use building along the Miracle Mile in Coral Gables, Fl., today announced that its affiliates have recapitalized the 65,000-square-foot commercial and retail portion of the property in conjunction with affiliates of funds managed by Fortress Investment Group LLC.  Robert Martin Company will remain active in the day-to-day operations of the commercial and retail portion of the property.  The new joint venture is called CF Miracle Mile, LLC.

“We are excited to partner with Fortress on what we consider to be an exceptional asset in an unparalleled location,” stated Timothy M. Jones, Managing Director/Partner of Robert Martin Company, which purchased the building in 2004 in a joint venture with Prospect Capital Group. “This is a strategic relationship to further strengthen this building’s position in the market.”  The recapitalization and new investment into the property will allow for a relaunch of the remaining vacancies in the property under improved market terms.

The property is currently celebrating the successful launch late last year of the area’s newest hot spot, Cibo Wine Bar at 45 Miracle Mile. The Toronto-based Liberty Entertainment Group, an owner and operator of premier event facilities, restaurants and nightclubs, brings authentic rustic Italian flare blended with a vibrant nightlife to the area.

About Robert Martin Company
Founded in 1957, Robert Martin Company has a long, distinguished history in real estate.  The company and its partners have developed and acquired more than 20 million square feet of office, industrial, residential and mixed-use properties, and its holdings presently include more than two million square feet of office space and hundreds of acres of developable land.

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