Case Studies

F. Greek Development/Parsicon Builders

Industrial development and construction services in New Jersey and Pennsylvania

F. Greek Development (FGD) has been building a reputation for excellence in the New Jersey and Pennsylvania industrial real estate markets since its founding in 1934 by Frank Greek Sr. The hallmark of the company is long-term client relationships and proven expertise building and managing superior industrial facilities of all shapes and sizes throughout the region.

Working together with sister company, Parsicon Builders, FGD has completed over 15 million square feet of development projects during the past six decades. FGD is capable of guiding all aspects of a manufacturing, distribution and warehouse development starting with design and construction, continuing through long-term management, adhering to the most rigorous quality control mechanisms in order to service a wide variety of clients.

F. Greek DevelopmentCompany president, Frank A. Greek, explains, “Whether we are working with a long-established corporation or the entrepreneur who is just starting out, FGD respects the importance of a handshake, a promise and a commitment to putting clients’ needs first. For more than 60 years, our company has stood for the highest standards of professionalism and integrity. We believe in conducting business the old fashioned way — with respect and pride.”

Specialty services

As one of the longest established industrial real estate development specialists in the industry today, FGD, a vertically integrated company, operates every phase of its 12.5 million-square-foot portfolio including site selection, design, construction, leasing, property management and tenant relations. Vice president of development, Matthew Schlindwein, and acquisitions director, David Greek agree, “The FGD team of experienced, in-house managers diligently orchestrates all aspects of the development and management processes in order to meet the client’s business strategy. We consider the client’s financial, operational, technical and qualitative needs every step of the way. We focus on service, quality and innovation and are committed to providing state-of-the-art, energy efficient industrial properties for all size users.”

Leading Parsicon Builders, Barry Deacon and Brett Mercer point out that Parsicon can handle projects of any size, offering extensive construction and renovation services meeting a wide variety of needs for both FGD and third-party clients. Parsicon has built specialized facilities for the pharmaceutical, information technology, commercial food, freezer, third-party logistics, office, commercial and retail industries just to name a few. Senior vice president of engineering, Nick Kolupanowich, directs a team of in-house and sub-specialty professionals to utilize the most current advances which results in the most progressive and efficient facilities that satisfy even the most demanding requirements.

F. Greek Development/Parsicon BuildersFGD also offers premier asset, leasing and property management services throughout New Jersey and eastern Pennsylvania. Highly qualified CPAs and RPAs combine state-of-the-art property management, accounting and technology systems to treat every property with an ownership mentality. Conducting frequent inspections of properties, FGD proactively addresses small problems before they become larger. Offering comprehensive services along with the in-house engineering and construction staffs, cost-effective solutions are quickly applied to enhance properties.

Jason Fisch, leasing associate at FGD, works with the company’s leasing team to offer a wide spectrum of options to meet the needs of regional, national and international clients including searches for specific facilities, lease analysis and negotiation, real estate tax appeal programs, sales and acquisitions, and property insurance review. Through comprehensive monitoring, they anticipate changing needs and offer solutions that contribute to the client’s long-term business success.

Chief operating and financial officer, Elliot Kosoffsky, states, “We monitor the satisfaction of our tenants, the performance of our buildings, and our building management personnel ensure that our facilities are well run and maintained. The reason why we have been able to enjoy so much repeat business is because we pay attention to each client’s business every step of the way.”

Collaboration with colleagues and clients

“Through extensive planning, full-service resources, ongoing study and a passionate commitment to client satisfaction, we renew our commitment every day to meet the ever-changing needs of the varied business communities doing business in our region,” says David Weissman, assistant chief financial officer. FGD is committed to working with real estate colleagues and all types of businesses to help the tristate region continue as one of the premier markets serving the industry.

“FGD worked with Elberon Development as the design-construct contractor for a state-of-the-art facility for Wakefern Food Corporation,” says Frank, “this 524,000-square-foot facility replaced the former Wakefern grocery warehouse at the same site and increased storage capabilities by more than 58 percent to better distribute nonperishable food products to ShopRite, PriceRite and The Fresh Grocer stores across New Jersey, New York, Pennsylvania, Connecticut, Delaware, Maryland, Massachusetts, Rhode Island and Virginia. In addition to the expanded square footage, the new building features 36-foot clear height ceilings, ESFR sprinkler, T-8 warehouse lighting and 190 dock doors with state-of-the-art loading dock packages.”

Another specialty development has been a facility for Preferred Freezer Services. The project was completed in joint-venture partnership with Advance Realty. “This project has been an exciting collaboration with the Advance professionals and is one of the more complex buildings FGD has ever built,” explains David Greek. “The 190,000-square-foot freezer warehouse features highly insulated metal panel walls, 50-foot-plus high ceilings along with a two-story office section.”

The team is currently undertaking two build-to-suit developments for pharmaceutical companies in New Jersey. One features a 65,700-square-foot pharmaceutical facility on a 6-acre lot and the other will be a 150,000-square-foot air conditioned warehouse and distribution center for the client’s nearby manufacturing facility. Both will be completed toward the end of 2015. Frank Greek notes, “This client has been with our company for many years and it has been an honor to help them grow from 20,000 square feet to more than 300,000.”

“We have recently been awarded a contract to construct two speculative warehouses for Clarion Partners’ Burlington Industrial Park, located in Burlington, New Jersey,” says Schlindwein. “When completed, the total park will be 1,690,000 square feet. Construction began mid-April 2015 and the Class-A industrial property is scheduled for completion by the spring of 2016.”

The team will construct a 476,950-square-foot facility and a 172,000-square-foot building within the Burlington Industrial Park. Enhancing the full function of the property, the building design and construction by FGD will feature insulated tilt-up construction, large bay spacing, deep truck courts, ESFR sprinkler systems and trailer parking. “Clarion Partners shares our commitment to the highest standards of integrity, quality and client satisfaction,” says Schlindwein. “We have the deepest respect for the professionals at Clarion.”

Commitment to industry

“What have never changed are the principles our company established many years ago and continues to maintain,” notes Frank. “We take tremendous pride in our long list of repeat clients and the success of their industrial facilities. We truly believe that our reputation for excellence is on the line with each client we serve.”

Each member of the F. Greek Development team is grateful for the opportunity to do business in this region and Frank and his team are working hard to bring the best the industry has to offer to each of its clients.

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