Charter Realty &
Development Corp. is a real estate investment,
development, and leasing company specializing in
retail properties. The Company
founded in 1993 by Paul Brandes and Daniel Zelson. Since its founding, Charter has acquired and
developed more than forty shopping centers and freestanding net leased
properties comprising nearly 5,000,000 square feet with a total
acquisition and development cost of approximately $500 million. To
accomplish this, the principals of the Company have used their strong
investor base and lender relationships to raise the necessary debt and
equity to finance and fund these acquisitions. Charter has
developed a niche as one of the most prominent
value-added retail development companies in the
northeastern United States. It's ability to
work through complex ground-up development and
redevelopment scenarios has earned Charter this
reputation. The Company continues to search
for solutions to today's most difficult real estate
issues when formulating it's latest projects - as
they say, "there are no easy ones left."
While expanding its owned shopping center
portfolio, Charter has also grown to become one of the largest third party
leasing agents in the northeastern United States. It currently
acts as the exclusive leasing agent for more than 11 million square feet
of property within 58 shopping centers in 13 states. Charter
prides itself on, and continually strives to maintain the integrity of
its relationships with both Landlords and Tenants alike.
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Charter seeks to take advantage of opportunities
that exist in the current real estate marketplace by pursuing such
strategies as:
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Owning and operating a high quality portfolio of shopping
centers in select and diverse markets, each with strong economic and
demographic characteristics, in order to maintain a portfolio of
real estate assets with stable income and the potential for
long-term growth.
-
Maintaining a diversified and complementary
tenant mix with an emphasis on long-term anchor leases with
retailers such as grocery stores and drug stores providing
day-to-day consumer necessities in order to generate stable income,
balanced by shorter-term non-anchored leases in order to respond to
evolving trends and generate income growth.
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Developing in-depth local and regional market
expertise to capitalize on market trends, retailing trends and
acquisition opportunities.
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Implementing a disciplined program of growing
its portfolio through investing in established, modern, stable
shopping centers located within the Company's markets to fully
utilize it in-depth market knowledge, long-standing relationships
and management acumen to create consistent long-term appreciation
-
Charter seeks to take advantage of
opportunities that exist in the current real estate marketplace such
as:
-
Locating new development and re-development
projects which incorporate land assemblages, adaptive reuse, and/or
environmentally sensitive of “Brownfield” situations; and
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Developing successful governmental approval
strategies associated with ground-up developments or
re-developments.
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Acquiring assets from distressed sellers at values
substantially below market value and replacement costs;
-
Identifying poorly leased, under-performing shopping centers
where ownership has mismanaged or improperly identified the asset’s
market.
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Charter Realty & Development Corp. has grown its
third party exclusive leasing business through the principle that the
properties it represents will be treated as their own. With an eye
toward value creation, Charter continually seeks to strengthen
tenant mix while solidifying a property’s economic stability.
These goals are achieved via the following methods:
-
Maintain day-to-day contacts and personal
relationships, with the decision-makers at key industry chain
stores;
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Canvassing the local trade area to identify
gaps for growth oriented retailers relocation opportunities for the
areas existing store base, and to verify shopping patterns of the
customers for the property;
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Analyzing existing lease documents to
understand where antiquated development restrictions exist which may
be lifted in the current shopping center environment;
-
Repositioning of existing successful tenants
via expanding them in place or relocation them into their current
prototypical formats
-
Understanding industry trends and growth
oriented retailers who will maximize foot-traffic in the appropriate
demographic environment;
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Maintaining an up-to-date retailer database
utilizing the latest technology facilitating mass e-mailing to targeted tenants.
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Paul
S. Brandes
Daniel M. Zelson Karen
Johnson
Rob Demerski
Angelo
Pappas Daniel
S. Mortimer
PAUL S. BRANDES
A founding officer of Charter, Mr.
Brandes has focused his efforts on identifying
shopping center acquisition, development and
redevelopment opportunities. Since the company’s
inception, this has accounted for more than 5
million square feet of new projects along the east
coast. His primary responsibilities include:
-
Negotiating and structuring
acquisition transactions
-
Identifying potential
development/redevelopment sites
-
Managing governmental approval
processes associated with ground-up developments
(including the coordination of all professionals
associated with the development and construction
teams)
-
Securing capital for the
company's equity and debt requirements
Prior to founding Charter, Mr.
Brandes has been involved in all facets of the
shopping center industry. At National Realty and
Development Corporation in Purchase, New York, he
was the Director of Acquisitions and Development.
During his tenure in the position from 1989 - 1993,
he was responsible for nearly 2,000,000 square feet
of new retail development projects in New York and
New Jersey. These projects were typically community
shopping centers (discounter/supermarket anchored)
and were fueled by the first wave of Wal-Mart Store
development in the northeast.
Originally a native of the greater
Boston area, Mr. Brandes began his career with CGI
Companies of Brookline, Massachusetts. Initially
joining the company as Director of Property
Management, he was responsible for managing and
leasing a portfolio of forty retail properties
(neighborhood and community shopping centers). He
later became Vice President of Development. In that
position, he successfully repositioned a portfolio
of eleven supermarket anchored shopping centers in
need of redevelopment.
Mr. Brandes received a B.S. from
Tufts University and currently resides in
Westchester County
New York.
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DANIEL M. ZELSON
A founding officer of Charter, Mr.
Zelson has focused his efforts on marketing the
company's owned portfolio, third party shopping
center leasing, and tenant representation. Since
the company’s inception, this has accounted for the
completion of more than 10 million square feet of new
tenant leases in both Charter and third party
properties. His primary responsibilities include:
-
Developing and implementing new
shopping center marketing strategies
-
Identifying potential markets and
specific locations for tenant-rep clients
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Hands-on lease negotiation and
administration
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Securing third party shopping
center exclusives and tenant representation
assignments.
-
He has been actively involved in
implementing growth strategies for major
retailers poised for expansion. Some of these
companies include: Lowe's, Shaw's Supermarkets,
Home Depot, Target, Wal-Mart, Consolidated Stores (Big
Lots), Barnes & Noble, Petsmart, Superstores,
Costco,
Dress Barn, Mandees/Annie Sez, Regal Cinemas, Famous Footwear,
and Ocean State Job Lot.
Mr. Zelson's relationships and
recognition within the chain store retailer industry
has afforded him the ability to successfully
re-anchor many shopping centers including those
formerly tenanted by the likes of Ames, Nichols,
Service Merchandise, Caldor, A&P, and Bradlees to name a
few
Prior to Charter's formation, Mr.
Zelson was the Director of Leasing at National
Realty and Development Corp. in Purchase, New York.
Joining National in 1988, his responsibilities
included all leasing and marketing activities for a
portfolio of 76+ shopping centers (in excess of 8
million square feet) in sixteen states along the
East Coast of the United States. He completed
leasing and sales transactions totaling more than 3
million square feet in a five year period.
Mr. Zelson is a graduate of Cornell
University and currently resides in Fairfield County
Connecticut.
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KAREN JOHNSON
Ms. Johnson joined Charter in the
fall of 2001 to assist with the government approval
process for Charter's shopping center development
program. Ms. Johnson has focused her efforts on
land use permitting and project management and has
over fourteen years of experience in the field.
Prior to joining Charter, Ms. Johnson
served as a Real Estate Development Manager for the
Stop & Shop Company. In that position, she was
responsible for project management with emphasis on
schedule and budget for new store development in
Connecticut, New York, and western Massachusetts.
Ms. Johnson served as the primary company
representative during the community outreach and
public meeting phases of the permitting process.
During her tenure at Stop & Shop, Ms. Johnson
assisted with the approval and/or opening of fifteen
superstores. Prior to Stop & Shop, she served as a
Project Manager with VHB, an engineering and
consulting firm, out of the Middletown, Connecticut
office. Ms. Johnson focused on permitting and
project management for land development and
telecommunications clients. Ms. Johnson also worked
as an analyst at Robinson & Cole LLP, a Hartford
based law firm, where she worked in the land use
section of the firm assisting with the due diligence
and permitting process for commercial real estate
and development clients.
Ms. Johnson has also worked in local
government, serving as a town planner for Brooklyn,
Connecticut. She began her career in real estate
with a residential developer in Mystic, Connecticut.
Ms. Johnson is a member of the
American Institute of Certified Planners (AICP) and
received a Bachelors degree in Geography and a
Masters of Public Affairs from the University of
Connecticut. She currently resides in New Haven,
Connecticut.
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ROB DEMERSKI
Joining Charter Realty in their newly
established Boston, MA based office. Mr. Demerski
has been actively engaged in real estate brokerage
since 1984. Mr. Demerski’s former Boston based
Real Estate affiliations were with The Triad Group
of 930 Commonwealth Avenue and Peter Elliot and
Company of 260 Franklin Street. His primary focus
with Charter will continue to be the sale and
leasing of retail oriented properties throughout the
New England region as well as retail tenant
representation. Mr. Demerski has successfully
completed transactions with the following major
retailers (as well as many others) in the New
England marketplace:
Wal-Mart, Kohl’s Dept Stores, Staples, CVS,
Walgreen’s, Ocean State Job lot, Consolidated
Stores- Big Lots, Save-A-Lot Supermarkets, Price
Rite Supermarkets, Mill Stores, Fleet Bank,
Blockbuster Video, Dollar Tree, Family Dollar, Auto
Zone
Mr. Demerski’s strengths and experience are
attributed to the following history of assignments:
-
Disposition
of approximately 600,000 sq ft of available
retail real estate for lease in one portfolio of
over 2 million sq ft of B and C class space
-
Disposition of surplus properties pertaining to
failed and/or downsizing retailers
-
Land assemblages for retail development
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Creating value through highest and best use
assignments of land and existing buildings
-
Identifying prospective markets/space relating
to tenant representation assignments
Mr. Demerski holds a BS degree in Industrial
Engineering from Northeastern University and resides
in Boston’s historic north end district with his
wife Elizabeth Furnelli and daughters Cameron and
Chase.
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Angelo Pappas
Angelo B. Pappas joins the Boston office of Charter
Realty & Development Corp. with over 12 years of
commercial real estate experience.
Mr. Pappas has completed several transactions
throughout Massachusetts and Rhode Island, in all
fields of commercial real estate including the sale
of land and property, the leasing of retail, general
office, medical office and industrial space.
Mr. Pappas has represented clients such as Mass
Mutual Life Insurance (Cornerstone Real Estate
Advisors), Blue Cross Blue Shield of Mass., Citizens
Bank, Mass General Hospital, Partners Healthcare,
Marshall Contractors, The Disney Company,
Zeland Corp., The
Northland Companies, and the Veterans of Foreign
Wars.
Mr. Pappas was involved in the analysis, reposition
and sale of the VFW Post in Waltham,
Mass..
He was successful in achieving over $1 million per
acre for the Veterans. Mr. Pappas has also
completed deals with Uno’s
Pizza, Boston Interiors, Ben & Jerry’s,
Olan Mills, Radio Shack,
Dunkin Donuts, Blockbuster Video, Jenny Craig,
Olsten Healthcare, Adia
Temps, Gateway Computer, Gym Source, Pete’s Coffee,
Pier 1, and Cardsmart to
name a few.
Although Mr. Pappas has completed deals in all
aspects of commercial real estate, his most
significant achievements have been representing
retail landlords with difficult projects. ”When it
comes to leasing tough retail space”, Pappas says,"
stay focused, be persistent with the cold calls and
think out of the box by contacting
quasi-retailers”. Mr. Pappas has also been
successful in leasing enclosed mini-malls by
rethinking the usual tenant theme and grouping
various cultural community businesses.
Prior to Mr. Pappas joining Charter, he was with
Richard Bendetson at
Diversified Funding, Eliot
Ravech and Peter Brown at Peter Eliot & Co.,
and Milestone Associates Inc.
Mr. Pappas graduated with a B.S. from
Suffolk University in Boston, Mass., and resides in
Boston Mass.
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DANIEL S. MORTIMER
Mr. Mortimer joined
Charter Realty in their newly established Bryn Mawr,
PA office in the winter of 2007. Prior to becoming
involved in the commercial real estate industry, Mr.
Mortimer had extensive experience in the Health Club
industry including being the general manager of one
of the top 100 Health Clubs in the country and a
partner in Volant Fitness in Downingtown, PA. Mr.
Mortimer successfully negotiated several real estate
deals including the purchase of a $4 million
building which housed one of the clubs under his
management.
Mr. Mortimer has
worked for the past several years for WP Realty,
Inc. in the Property Management division. In that
position Mr. Mortimer was responsible for the
management of retail strip shopping centers, main
line office buildings and apartment communities.
Along with the management of these assets Mr.
Mortimer was also solely responsible for marketing
of vacant spaces as well as the negotiation of lease
and lease renewals
Mr. Mortimer has
completed deals in various commercial real estate
markets and is presently performing tenant
representation work for a national fitness operator.
Mr. Mortimer holds a Liberal Arts and Exercise
Physiology degree and presently resides in the
Philadelphia suburb of Malvern, PA with his wife
Heather and their children Danielle and Brandon.
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