| |
|
|
|
Mr. Kerman is an active manager
of 3 office buildings in Harrisburg, the capital city
of the State of Pennsylvania. These office buildings are
115,000 square foot office/laboratory buildings leased
to the Environmental Protection Agency for the State of
Pennsylvania. Additionally, Mr. Kerman actively manages
an approximately 21,000 square foot building leased to
the Department of Labor, Division of Vocational Rehabilitation
and an 80,000 square foot 'Class A' multi-tenant office
building in the Tec-Port Business Campus, located in Harrisburg,
Pennsylvania.
|
|
|
Mr.
Kerman has been instrumental in negotiating the sale of
approximately half of the interest in 60 State Street, Hackensack,
New Jersey and has subsequently invested in two (2) projects
in the state of Maine. The Maine investments are office
buildings located at One Riverfront Plaza in Westbrook,
Maine and 286 Water Street, Augusta, Maine. Westbrook is
a suburb of Portland, Maine and the 140,000 square feet
here, are occupied by two tenants, CORE, Inc. and Disability
RMS. Fortis Benefits Insurance Company is the guarantor
of Disability RMS. The second office building in Augusta,
Maine, is 87,000 square feet, and is occupied by the State
of Maine and Key Bank as tenants. Mr. Kerman, besides being
an investor, and principal of LAX Enterprises, LLC, has
been active in the asset management of these properties.
|
| |
Mr.
Kerman owns a CVS Drugstore in Coventry, Connecticut, and
through his association with LAX Enterprises,
Mr. Kerman is a managing investor in the Tractor
Supply Company Store in Bedford, Pennsylvania and a Walgreens
Pharmacy in Hamilton, New Jersey. |
|
|
Mr.
Kerman became a managing investor in a Walgreens Pharmacy
located in Jasper, Indiana and another Walgreens Pharmacy
located in Swansboro, North Carolina, in addition to a CVS
Pharmacy located at the main entrance of the University
of South Carolina's main campus in North Carolina's largest
city, Columbia. Mr. Kerman also became a managing investor
in six separate bank branch locations in and around Rodchester,
New York. |
|
|
L.K.
Allen Investors I, LLC, was formed to purchase 66-70 Belmont
Avenue, Belleville, New Jersey. The property was completely
rehabilitated into 8 2-bedrom apartments. |
|
|
L.K.
Allen Investors II, LLC, was formed to purchase three building
lots in Kinnelon, New Jersey for a purchase price in excess
of $900,000. |
|
| |
In
the Fall of 2000, Mr. Kerman asked two previous investors
in Kerman projects to join L.K. Allen Residential Partners
as Partners in charge of construction. Residential Partners
has completed twenty-two (22) projects to date with additional
projects in the inception stage. Most of the projects consisted
of non-livable residential units in Essex and Union Counties
which L.K. Allen Residential Partners rehabilitated for
occupancy. |
|
| |
In
April 1999, Mr. Kerman asked Michael L. DeFede to join his
firm as Partner in the newly formed Residential Division.
Mr. DeFede’s experience was in various aspects of
the Asset Management function, while Mr. Kerman’s
experience is in the day-to-day operation of real estate,
building management, investment and sale of property for
the benefit of the investors. Mr. Kerman had day-to-day
responsibility for the management of the 60,000 square ft.
Center City building, located at 60 State Street Hackensack,
New Jersey. In June 2000, Mr. DeFede left to return to City
Bank as Vice President of Asset Management. Between 1999
and 2000, Messrs. Kerman and DeFede contracted a $19 million
project in the suburbs of Dallas, Texas. |
|
| |
In
1996, Mr. Kerman was the General Partner of this entity,
which was created to develop a 13.3-acre site at the junction
of Routes 77 and 56 in Upper Deerfield Township in Cumberland
County, New Jersey. |
| |
During
the approval process, Mr. Kerman successfully negotiated
the sale of the property, which resulted in profit of over
300% for his investors. |
|
| |
In
1992, Mr. Kerman purchased 7.8 acres of land at the junction
of State Routes 77 and 49 in Bridgeton, New Jersey, the
County Seat of Cumberland County to develop a retail center
of approximately 30,000 square ft. Mr. Kerman was responsible
for coordinating the architectural and engineering process
and obtaining all approvals from the municipality. Mr. Kerman
pre-leased 12,000 square ft. to Eckerd’s and McDonald’s
Corp. The total investment in the property was $500,000.
|
| |
Prior
to the commencement of construction, a purchase offer was
received and Mr. Kerman successfully negotiated the sale
of the property for $880,000, achieving a profit of $380,000
for the investors. |
| |
| |
In
1988, Mr. Kerman was a managing partner and responsible
for the construction and leasing of 20,000 square ft. medical
building located at 41 Kings Highway Cherry Hill, New Jersey.
The project was completed in 1988 and fully leased to Core
Health Care, Inc. |
|
| |
In
1984, Mr. Kerman began his development career by successfully
developing and leasing a 60,000 square foot office building
in Hackensack. Located at 60 State Street in Hackensack,
New Jersey, the building remains 100% occupied by it’s
original tenant, the State of New Jersey. Mr. Kerman was
responsible for securing the tenant and negotiating the
lease. The total development cost was $7 million. |
| |
After
completion, Mr. Kerman and his partners negotiated a first
mortgage of $8 million, resulting in a $1 million profit
to the investors at the outset. |
| |
As
principal of LAX Enterprises, LLC (formerly Hackensack,
LLC), Mr. Kerman remains a general partner of this successful
project and is involved in the day-to-day management of
the property. |
| |
| |
A&J
Realty hired Mr. Kerman as the Exclusive Leasing and Managing
Agent for 80 Pompton Avenue, a 24,000 square ft. office
building. |
|
| |
Beginning
in July 1970, Mr. Kerman was affiliated with a number of
commercial real estate firms including Philip Fogel &
Co., Sutton & Town, Baker-Merin Associates and Feist
& Feist. |
|
| |
| •
2005 – Recipient, American Cancer Society, Metropolitan
Region, Robert J. Cohen Humanitarian
Award |
| •
1999 – Elected, Board of Trustees of Temple Beth Shalom,
Livingston, New Jersey |
| •
1994 – Volunteer of the Year, Essex County American
Cancer Society |
| •
1993 – Sparkplug of the Year, Essex County American
Cancer Society |
| •
1992 – Elected, Member of the Board of Directors of
the Essex County American Cancer Society |
| |
Though
the American Cancer Society, Mr. Kerman organized and sponsored
an annual golf tournament dedicated to the memory of his
parents. This tournament, The Teddy Lax and Evelyn Rothman
Kerman Memorial Golf Tournament, is now in it’s eighteenth
year, and in it’s eighth year was renamed, The American
Cancer Society Memorial Golf Tournament. |
| |
| •
1982 – Voted Livingston, New Jersey Jaycees “Man
of the Year” |
| •
1980 – Joined the Livingston Jaycees Community Service
Organization |
| •
1979 – Elected to the Young Men’s Real Estate
Association of New York (subsequently known as Young
Men’s & Women’s
Real Estate Association of New York) |
| |
This
is a non-profit civic and business organization that acts
to raise money and provide community services through activities
such as Blood Drives and Clothing Drives in the New York
City Area. |
| |
| Mr. Kerman volunteered
and was golf chairman for ten (10) years during the 1980’s.
Through Mr. Kerman’s leadership, this annual event was
always the organization’s largest fund raiser. |
|
| |
|
• Mr. Kerman and his wife of 40 years, Deberah, have
a son and a daughter and reside in Livingston, New
Jersey.
|
| •
Mr. Kerman received his Bachelor Arts in Secondary Education
with a concentration in Sociology and
Social Science from
the University of Toledo in 1968. |
| •
Mr. Kerman is currently a licensed real estate broker in New
York and New Jersey. |
| |
