Sharon and Peter J. Cocoziello have pledged $1 million to support construction of a new building for Penn State's Smeal College of Business. Peter Cocoziello, a 1973 graduate of the college, is president and CEO of the New Jersey-based Advance Realty Group. The Peter and Sharon Cocoziello Real Estate Suite and the Peter and Sharon Cocoziello Real Estate Lectureship will be named in recognition of the couple's generosity.
"The Cocoziellos' engagement with and dedication to the University and the Smeal College continue to grow," said Smeal Dean Judy Olian. "Peter is a member of the Smeal Board of Visitors and has been enormously influential in the strategic direction of the college. We are honored to include him among our most esteemed alumni."
Located at the corner of Park Avenue and Shortlidge Road, the 210,000 sq. ft. building will be the largest academic building on the University Park campus. Designed by Robert A.M. Stern Architects, it will include 21 undergraduate and MBA classrooms, six research and teaching laboratories, 10 recruiter interview rooms, cafe, auditorium, an atrium capable of seating 400, an outdoor plaza, conference rooms, undergraduate and MBA commons and numerous other amenities. The building will be completed in July 2005.
To date, friends, alumni and other supporters have committed more than $22 million for the construction project, which broke ground in October 2003. Penn State's Board of Trustees have committed an additional $39 million in University capital improvement funds. Most recently, the Kresge Foundation issued a $1 million challenge grant for the project. The Kresge funds will be made available only if the college raises $28 million of its original $29 million private fund-raising goal by the end of 2005.
Peter Cocoziello formed Advance Realty Group in 1979 in Bedminster, N.J., six years after graduating from Penn State with a B.S. in finance. Specializing in real estate development, construction and property management, the firm has grown into the Boston, New Jersey, and Washington, D.C. markets. In his current position, Cocoziello heads a team of architects, engineers, marketing professionals and management personnel.
His community and professional service includes membership on the board of directors and executive committee, New Jersey Chamber of Commerce; board of directors, the Foundation for New Jersey Public Broadcasting; board member, New Jersey Presidents Organization; governor and trustee, NAIOP Research Foundation; and president, Advance Realty Foundation.
The Cocoziellos have three sons and live in Oldwick, N.J.