Longtime Managing Director Lance Bergstein named CEO, while Joel Bergstein transitions to role of executive chairman
EAST RUTHERFORD, N.J., Sept. 26, 2023 /PRNewswire-PRWeb/ -- Lincoln Equities Group (LEG), a prominent leader in real estate development and investment, today announced that as part of an internal restructuring, longtime Managing Director Lance Bergstein will become its newest chief executive officer, replacing Joel Bergstein, who will assume the role of executive chairman.
Lance Bergstein will oversee the firm's day-to-day operations in his new role. His prior role as managing director saw him spearhead hundreds of millions of dollar projects across all asset classes, including the acquisition of a 1.2 million-square-foot life science campus in Hopewell, N.J., expanding LEG's life sciences division to nearly 2 million square feet. In 2022, he was pivotal in selling a 42-acre portion of LEG's Princeton West Innovation Campus to BeiGene, a global biotech firm. Lance Bergstein was also an essential driver in LEG's 360,000-square-foot lease with Amazon, where the online retail giant agreed to lease all available space at LEG's future warehouse site in Rutherford, N.J.
"I am grateful for the opportunity to lead Lincoln Equities Group into its next era, reinforcing to the market and our partners that LEG is here for the long run," said Lance Bergstein. "The firm has been extremely nimble and entrepreneurial under Joel's leadership which ascended it to the reputation it has today. I am excited to continue to grow our institutional relationships and the capacity of the platform. Joel has built a stellar reputation centered around honesty, morality, and execution, and I am committed to continuing to uphold and strengthen this agency."
The longtime CEO, Joel Bergstein, will transition into the executive chairman role. He has been the driving force behind many of the organization's acquisition and development initiatives over his 40-year tenure. One of his most successful projects was the closure of a 152-acre waterfront site in Bayonne, N.J., where 1.4 million square feet of e-commerce logistics warehousing was developed to bolster trade with the Port of New York and New Jersey. NAIOP awarded the lease its "Visionary" award in 2021, with the property ultimately selling later that year through Cushman & Wakefield.
Joel Bergstein will continue to play a fundamental role in shaping the organization's strategic direction in his new position as executive chairman. His industry expertise and extensive network will be invaluable in guiding the company's long-term vision, fostering relationships with key stakeholders, and exploring new business opportunities.
"I am excited to take on the role of executive chairman at Lincoln Equities Group," said Joel Bergstein. "This restructuring represents a natural evolution for the company, and I have full confidence in Lance's ability to lead our talented team to new heights. Together, we will continue to innovate and create value for our clients and partners."
This internal restructuring marks a pivotal moment for Lincoln Equities Group, underscoring its commitment to adapt and thrive in a dynamic industry. The company will continue to focus on its core values of integrity, innovation, and client satisfaction while exploring new avenues for sustainable growth.
About Lincoln Equities Group
Lincoln Equities Group LLC (LEG), established in 1980, is one of the Northeast's leading full-service real estate companies. LEG has built a sterling reputation over more than 40 years in the market due to the quality of its professionals, ability to outperform in all market cycles and strong relationships with tenants and the real estate community. The company owns, operates, develops and manages commercial and residential properties throughout the east coast for its own account and for third-party owners. http://www.lincolnequities.com/
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SOURCE Lincoln Equities Group
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