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Top commercial brokers form new firm LMT

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Top commercial brokers form new firm LMT


(L-R) Jim Tancredi, Chris Moore and Joe Latina have shaped LMT Business Realty to serve the mid-Atlantic. | PHOTO COURTESY OF LMT COMMERCIAL

WILMINGTON – Three of the highest industrial actual property brokers in northern Delaware not too long ago left their respective companies to open a brand new competing brokerage.

Joe Latina and Chris Moore, previously of Patterson-Woods & Associates, have mixed with Jim Tancredi, previously of DSM Business, to open LMT Business Realty. Latina additionally introduced his staff of Mary Ann Heesters and Tyler Foresta from Patterson-Woods, whereas Adam Cofield, a former consumer of the LMT brokers, joined as properly. The agency is positioned at 62 Rockford Street in Wilmington, however will serve Delaware, Pennsylvania and Maryland.

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LMT Business will serve actual property buyers, property homeowners, tenants and restaurant homeowners and operators in funding gross sales, 1031 exchanges, land gross sales, industrial, workplace, retail and restaurant, multifamily, life sciences, medical places of work, single-tenant, triple-net gross sales, and extra.

Latina instructed Delaware Enterprise Occasions that the departures from two of the biggest industrial brokerages in northern Delaware didn’t come out of any animosity, however merely a need to strive one thing new and grow to be their very own bosses. Latina and Moore have been poised to take over Patterson-Woods someday after founder Duncan Patterson retired, he stated, and he started to reassess.

“Frankly, I simply sort of took a step again … And I simply felt that we would have liked a sure completely different strategy to industrial actual property,” he defined.

Latina stated he envisioned a agency that dealt with accounts collectively, permitting for a extra collaborative atmosphere, he stated. Serendipitously, each Moore and Tancredi had approached Latina about placing out on their very own, he recalled. He ended up bringing the halves collectively

“The three of us sat down, had lunch and talked about this, and from the day that we had that first assembly, we have been all on the identical web page and shifting ahead,” Latina stated.

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Tancredi is a childhood good friend of Latina who had grown a big e book of enterprise in retail and eating places after an extended profession dealing with Wilmington Belief’s actual property wants.

Moore was beforehand managing companion at Fraser Property Administration, an organization that developed industrial places of work, laboratories and manufacturing amenities. He additionally co-founded Optimer, a textile and materials science analysis firm that was offered in 2008, earlier than becoming a member of Patterson-Woods and changing into a prime dealer.

Latina, who spent all 33 years of his profession at Patterson-Woods and was well-known for his work in retail and eating places after being born right into a restaurateur household, not too long ago served as president of CORFAC Worldwide, a world industrial actual property community.

“All of us have a considerable quantity of expertise, so we convey so much to the desk,” Latina stated. “With our expertise on this market, we’ve grow to be trusted advisors and we all know the market properly.”

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Whereas LMT want to develop sooner or later, Latina stated they weren’t searching for to poach their acquainted competitor’s workers. With a small ecosystem for industrial actual property in Delaware, the brand new agency wasn’t making an attempt to trigger discord, he famous.

For now, the agency is aiming to develop out its listings relying upon the companions’ experience and have already began getting curiosity. Latina stated that he prefers to publicly listing as many properties as potential.

“I’ve at all times been an enormous lister of product to regulate the product, to generate curiosity, to provide me the power to talk to numerous completely different folks and as they inquire, we attain out to them and increase our consumer base. So, I believe that listings are essential for that,” he stated.

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Delaware

Delaware lawmakers pass largest Grants-in-Aid bill in history, $98.5 million for nonprofits

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Delaware lawmakers pass largest Grants-in-Aid bill in history, $98.5 million for nonprofits


Delaware lawmakers pass a $98.5 million Grants-in-Aid billfor fiscal year 2025, the largest allocation to nonprofits in the state’s history.

Joint Finance Committee (JFC) Vice Chair Kim Williams (D-Stanton) notes some of the largest investments are headed to first responders.

“The Joint Finance Committee committed $11.6 million to our fire companies in statewide fire and ambulance company support to ensure the maintenance and operations of trucks, ambulances [and] rescue boats – a 20% increase above last year,” she said on the House Floor.

The committee also allocated $6.4 million to provide one-time funding of $100,000 each to statewide fire companies and public service ambulances.

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It also adds over $17 million for ongoing paramedic operations in all three counties and an additional one-time allocation of $1 million to each county to improve or enhance paramedic operations.

Senior center operations statewide receive $10.3 million, and $29 million heads towards various nonprofits throughout the state.

The bill heads to Gov. John Carney for approval.

The allocation supersedes his Grants-in-Aid recommendation by around $32 million after he proposed a 7.6% decrease in funding from last fiscal year.

Disclosure: Delaware Public Media will receive 250,000 from this Grant-in-Aid bill. DPM received $235,000 during the current fiscal year.

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Delaware teen selected as Distinguished Young Woman of America for 2024

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Delaware teen selected as Distinguished Young Woman of America for 2024


MOBILE, Ala. (WALA) – Alicia Chu of Newark, Del. was named the Distinguished Young Woman of America for 2024.

Here is a release from the Distinguished Young Women’s organization.

Mobile, Ala. – On Saturday, June 29, Alicia Chu of Newark, Del. was named the Distinguished Young Woman of America for 2024 and presented with a cash scholarship of $40,000 at the conclusion of the 67 th Distinguished Young Women National Finals. Chu earned preliminary awards in the Self Expression and Talent categories totaling $42,000 in cash scholarships across the three-night program.

Following a selection process that began in her home state of Newark, Del., Chu began preparing for the 67 th annual scholarship program. National Finals were held at the Mobile Civic Center in Mobile, Ala. Thursday, June 27 was the first night of the preliminary program followed by the second night on Friday, June 28.

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In addition to serving as the national representative of Distinguished Young Women for the next year, Chu will attend Harvard University and plans to pursue a career as a lawyer. Chu is a graduate of Archmere Academy. She is the daughter of Amy Chu. Other participants receiving top awards in the 2024 Distinguished Young Women National Finals include First Runner- Up Nariah Mullins of Knoxville, Tenn., Second Runner-Up Haynes Lewis of Greenville, NC., and Third Runner-Up Ellen Fei of Kentucky. $125,500 in total cash scholarships was awarded during the three-night program.

About Distinguished Young Women

Founded in 1958, Distinguished Young Women is a free program that encourages participants to reach their full individual potential. Our mission is to empower young women by providing over $1 billion in scholarship opportunities, connecting with a nationwide network of women, developing their self-confidence, and participating in our Life Skills Workshops that prepare them for success after high school. National sponsors include Barbara Barrington Jones Family Foundation, Mobile County, City of Mobile, Alabama Power Foundation, Gant Travel Management, Regions Financial Corporation, John Cauley Jeweler, Jostens, and Alabama Media Group.



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Delaware company makes list of top 300 ‘Best Companies to Work For’

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Delaware company makes list of top 300 ‘Best Companies to Work For’


While two companies with headquarters in Delaware received recognition from U.S. News & World Report in the “Best Companies to Work For” rankings, only one made the overall 300 best list, released earlier this month.

Sallie Mae, based in Stanton, was honored among the top 300 with additional recognition as “best in financial services” and “best companies in the South.”

In the financial services business, Sallie Mae describes itself as “the nation’s saving, planning and paying for college company.” Founded in 1972, the business has about 1,740 employees in the U.S., with headquarters in Stanton and offices near New Castle and in Sterling, Virginia; Newton, Massachusetts; Indianapolis; and Salt Lake City.

Employees at the Stanton headquarters, the largest of Sallie Mae’s offices, work in credit, collections, risk, customer experience, product marketing, corporate marketing and human resources, according to the company’s website.

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At the New Castle-area office, the company has its operations teams, including servicing, school assist, collections, underwriting, fraud, office of the customer advocate and customer communications.

See when company opened second office: New Sallie Mae office brings new jobs to Delaware

Here’s how Sallie Mae ranked in the six categories that U.S. News & World Report used to compile the rankings, with 1 being the lowest and 5 the highest:

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  • Sense of belonging, 5
  • Quality of pay, 4
  • Stability, 4
  • Comfort, 4
  • Professional development, 4
  • Work life balance, 3

Chemours gets U.S. News & World Report nod

While not listed among the top 300, one other company with headquarters in Delaware received recognition in the U.S. News & World Report’s “Best Companies to Work For” list.

In the listings by industry and region, Chemours, headquartered in Wilmington, was honored as “Best in Chemicals.”

Meanwhile, Evolent Health, which is registered in Delaware but has its headquarters in Arlington, Virginia, was honored as “Best in Health Services” and “Best Companies in the South.”

More business news: Plans revived for a Newark Wawa. Where else is Wawa coming in Delaware?

How did U.S. News & World Report select Best Companies?

In compiling the rankings, U.S. News & World Report looked at businesses with publicly traded stock in the Russell 3000 index of largest companies as of June 2023. The businesses also needed to have a minimum of 75 U.S.-based Glassdoor reviews between 2020 and 2023. Companies were grouped into various categories using a combination of industry classification benchmark standards and U.S. News’ editorial judgment.

Here are the six metrics that determined the best companies to work for, according to U.S. News & World Report:

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  • Quality of pay and benefits, “whether employees feel adequately compensated for their work, as well as living wage data and a company’s compensation vs. its competitors.”
  • Work/life balance and flexibility, based on flexible work policies and “employee perception of opportunities for work/life balance and flexibility.” 
  • Job and company stability, using data on “corporate governance quality and the attrition rate of a company’s senior leadership….”
  • Physical and psychological comfort, “defined as a safe work environment.” 
  • Sense of belonging and esteem, “whether employees feel connected to the organization and appreciated for their contributions.” 
  • Career opportunities and professional development, considering “factors like mobility rates within a company and opportunities for benefits like tuition assistance, as well as growth opportunities perceived by employees.”

Reporter Ben Mace covers business, development and real estate news. Reach him at rmace@gannett.com.



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