With his new company, Milanaik says, he is already close to being named to run a city redevelopment project (although he declined to specify if it is in Harrison.) “It's a little premature to announce,” he says.

Also, CrownPoint has already been engaged to complete a $1 million renovation project in Cedar Knolls that will convert a 13,000-square-foot industrial building into office space.

Based in Morristown, the three-week-old company will offer an array of consulting services to investors looking for industrial properties, as well as the ability to complete work that might be necessary to repositiona property, or manage it on a continuing basis.

Milanaik recalls that when he started with Heller in 1987, the company had a portfolio of about 6 million square feet and about 20 employees. When he departed from the presidency of Heller last month, the company had a 16 million-square-foot portfolio and a staff of more than 50 people.

“I have a lot of spring left in me,” he says. “I had four sons in college during the recession and we made it through that. This is something I've always wanted to do, run an independent company. I talked with my family and they were supportive.”

There were some “nervous moments,” laughs Milanaik. “So far, though, the reception in the marketplace has been beyond thrilling. It's a new life, if you will.”