Mr. Norton Herrick
Herrick Entertainment, part of The Herrick Company, is owned by Norton Herrick and he has produced a number of award-winning films in the past decade. These films include My One and Only and 2Guns, starring Denzel Washington and Mark Wahlberg. Lone Survivor is the latest award-winning film produced by Norton Herrick, and it has already won two awards and has been nominated for two others.
Lone Survivor is the true story of Marcus Luttrell, part of the Navy SEALs’ Operation Red Wing. Their goal was to enter the mountainous region of Afghanistan, near Pakistan, and monitor the comings and goings of a higher-up member of al Qaeda. Of this group of five, only Marcus Luttrell survived.
The film, which was released in December 2013, stars Mark Wahlberg and is up for two Oscars, one for sound mixing and the other for sound editing. In addition, actor Mark Wahlberg won best actor and the film won best action movie at the Critic’s Choice Awards.
An expert on net lease real estate financing, Norton Herrick heads the Herrick Company, which maintains investments in a broad range of industries. Under his leadership, the company has established affiliates to manage opportunities in areas as diverse as green projects, thoroughbred racing, and entertainment. Its entertainment affiliate, Herrick Entertainment, produces and finances projects in the motion picture and television industries, as well as live stageplays.
One of the company’s recent productions, Lone Survivor, won two Critics’ Choice awards in 2014 and received two Academy Award nominations. Another of its action films, 2 Guns, pairs Oscar winner Denzel Washington with Mark Wahlberg, the star of Lone Survivor. Other movies in its current library include Madison, The Moth Diaries, and Nightlight.
The company’s television division produces programming for both the domestic and foreign markets. The firm has also produced several Broadway shows, including SPIDER-MAN Turn Off the Dark, Pippin, Lord of the Rings, 9 to 5 the Musical, and revivals of Hair and American Buffalo. Another of the company’s Broadway productions is the Eugene O’Neill classic Desire Under the Elms, starring Brian Dennehy.
As head of the well-established real estate investment firm Herrick Company, Inc., Norton Herrick has put together successful net-lease transactions throughout the United States. In addition to multifamily rental properties, Norton Herrick’s firm owns and manages diverse office, commercial, and industrial projects.
In late 2013, Pennsylvania Governor Tom Corbett announced the selection of Bethlehem as one of two municipalities that would be designated a City Revitalization and Improvement Zone (CRIZ). The 130-acre zone is expected to generate as much as $400 million in development in the medium term and create more than 3,140 construction positions and 4,000 permanent jobs.
One of the highest-profile projects for the Bethlehem CRIZ is the $175-million proposed redevelopment of Martin Tower. The former Bethlehem Steel headquarters, co-owned by Mr. Herrick, sits on 53 acres and has remained vacant for the past seven years. The CRIZ designation would provide the incentive to tackle major redevelopment challenges, including dealing with a unique cruciform shape, the elimination of asbestos, and the installation of sprinklers.
Philanthropically involved in the community, Norton Herrick supports nonprofit organizations such as the Make-A-Wish Foundation.
Norton Herrick, the chairman and CEO of The Herrick Company, a recognized leader in the real estate industry, directs his company’s activities in numerous other markets, including thoroughbred horse racing, entertainment, fine art, and green projects. The company’s green projects are managed by an affiliated company, HH Capital Advisors, LLC, also headed by Norton Herrick. When considering green investments, HH Capital Advisors focuses primarily on renewable energy projects and specializes even further, concentrating mostly on biomass fuel sources.
Domestic biomass, a renewable energy source, consists of a broad range of organic matter, including crops grown specifically for energy, waste and residue of other crops, and animal waste. Biomass has several economically feasible uses that are also environmentally friendly; the most commonly known are fuels produced from seasonal crops like corn and sugarcane. Brazil, for example, has replaced 40 percent of its gasoline needs with ethanol produced from sugarcane. Furthermore, some biomass is burned in power plants to produce electricity, which also addresses the problem of how to dispose of waste products, like animal waste and grain straws.
Biomass also comes with economic benefits for local communities. Because transporting the quantities of crops necessary to produce ethanol can add significantly to the cost of those fuels, it is often more economically feasible to build refining facilities close to the fields where the crops are produced, thus creating jobs for many area residents.
As chairman and CEO of the Herrick Company, Inc., Norton Herrick has diversified beyond real estate development and undertaken the production and financing of Broadway shows and Hollywood movies. In 2009, Norton Herrick’s entertainment company distributed the well-received movie, “My One and Only.”
Set in the 1950s, the movie is loosely based on the recollections of veteran Hollywood studio actor George Hamilton about his childhood experiences. “My One and Only” was several years in the making, with Mr. Hamilton himself taking a role as executive producer and partnering with Merv Griffin to give the project traction.
Norton Herrick participates in numerous progressive philanthropic endeavors.
Mr. Norton Herrick
A recognized authority on net lease real estate financing and transaction, Norton Herrick serves as the chairman and chief executive officer of the Herrick Company, an investment firm responsible for transacting more than $5 billion in purchases and sales since its establishment in 1960.
In the commercial real estate industry, net leases are often transacted between lessees and tenants. Such an agreement directs that the tenant holds responsibility for costs – such as utilities and maintenance, among other operating expenses – that may otherwise be assigned to the landlord. As this burden of cost is transferred to the tenant, a landlord may charge less rent. The leases may be negotiated to include a cost cap, referring to a maximum annual amount by which a landlord is permitted to raise fees.
The most common types of net leases are referred to as single, double, and triple net leases. With a single net lease, property taxes are added to the rental amount. Double net leases add building insurance to the fees covered by the tenant, and a triple net lease contains the most comprehensive list of additional fees: taxes, insurance, and maintenance, as well as utilities.
Norton Herrick, The Herrick Company
The chairman and CEO of real estate investment firm the Herrick Company, Norton Herrick established Herrick Entertainment with a goal of financing high-quality Broadway, television, and film productions. Under the direction of Norton Herrick, the company has financed and produced such films as 2 Guns and Lone Survivor. In addition, the company produced and financed the independent film Very Good Girls, which premiered at the 2013 Sundance Film Festival.
Written and directed by American screenwriter Naomi Foner, Very Good Girls features Elizabeth Olsen and Dakota Fanning in the lead roles, with a supporting cast that includes Demi Moore and Richard Dreyfuss. The film was a directorial debut for Foner, based on a script she composed more than 20 years ago. Primarily shot in Brooklyn, Very Good Girls was produced in collaboration with Groundswell Productions.
Themes of female sexuality and teenage friendship are explored in Very Good Girls, with Fanning and Olsen portraying two best friends, Lilly and Gerry, who make a summer pact to lose their virginity. Becoming acquainted with the magnetic street performer David, the girls both begin to fall for him, a turn of events that tests their friendship and leaves them struggling for answers.