PHILADELPHIA-Atlanta-based IDI has established a Northeast regional office here. Irvine, CA-based Sperry Van Ness adds a new top advisor to its local office. In launching this, its eighth development office nationwide, IDI hired Frank J. Petkunas, former SVP of development in the local office of Trammell Crow Co., as VP and regional development officer to head operations here.

His first priority, he says, “is to capitalize on the robust New Jersey industrial market by developing assets already in play and by acquiring new land sites in the area.” Next will be expansion into new regions, such as Central Pennsylvania and Baltimore/Washington, he says.

IDI already has several projects under way in this area in JVs with JP Morgan and Rockefeller Group. Among them are a site in Bordentown, NJ with capacity for a one-million-sf facility, a 427,000-sf building that is near completion in Cranbury, NJ, and a 320-acre park in Upper Freehold and Washington Twps., NJ, that is awaiting zoning approvals.

“Our initial interest in the New Jersey market stems strictly from market demand,” says Matt O’Sullivan, IDI SVP and chief development officer. “This entire region, including Eastern Pennsylvania, represents the third- or fourth-largest distribution market in the US. We need to be here.”

Meanwhile, Sperry Van Ness adds Mark D. Berk, former SVP of locally based Albert M. Greenfield & Co., senior advisor in its office here. Berk brings 30 years of experience to the new post. He joins Peter Peterson, director of organizational development, and Matthew Fitch, the firm’s regional manager here.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.