10A — November 27 - December 10, 2015 — Professional Services — M id A tlantic
Real Estate Journal
www.marejournal.com
I ndustrial B roker By Jordan Metz, Bussel Realty Corp. Central/Northern New Jersey market is on the rise again
S
ince having joined the industrial real estate industry straight out
Central/Northern New Jersey area is flourishing, once again. With these port proximate central/northern NJ markets coming into 2015 hovering around 7% vacancy off the heels of a fairly inspiring 2014, the voracious demand for this space has outpaced any levels of current supply. Even with several mas- sive development projects and redevelopment projects completed and underway, businesses absorbed and oc- cupied that space as quickly as it came out of the ground and online. Some notable de-
velopments include Prologis with over 3,000,000 s/f of new development underway and completed from Jersey City, Elizabeth, to Carteret/ exit 12 market, to Duke Realty with over 750,000 s/f on the former GM site in Linden, with an- other 500,000 s/f plus coming online, with Clarion building at 279,208 s/f in Elizabeth, and Hampshire/JPM with 460,000 s/f of construction in Avenel, NJ, along with several acquisitions/repositioning of other older sites. While there was massive pent-up demand for a new
space to be developed, as developers and owners had been sitting on the sidelines for some years post-recession, the actual pace with which the market absorbed such a con- siderable amount of new space has been encouraging. With over 5,000,000 s/f additional in those markets marked for immediate development with some sites being pre-leased, I do not foresee this appetite for port-proximate industrial space to slow down anytime in the foreseeable future! In my capacity as a buyer/ tenant representative, I pro-
vide research and analytic based market information, supported by almost 12 years working specifically in these specific port-proximate NJ markets, to my clients, both to educate them and guide them through the process of securing these facilities for their business operations. I go through a tedious site selection process, and narrow it down to a list of the top options. I then manage and oversee the dozen or more other professionals, govern- ment entities, and city officials that we encounter along the several-month long due dili- gence/closing process. JordanMetz is vice presi- dent of Bussel Realty Corp. in Edison, NJ. n
of college in l a t e 2004 , I have wit- nessed a lot of changes. Some good, s ome bad , e s p e c i a l l y during the i n c r e d i b l e
Jordan Metz
collapse of our real estate industry and greater economy as a whole. However, the real estate market is on an up rise, and more specifically, the
Industrial Properties For Sale in NJ
Bussel Realty brokers sale in Elizabeth, NJ
• 123,632 SF • 7,264 SF Office • 22’ Ceilings • Fully Racked
with 6,000 Pallet Positions
• 14 Tailboards • Near I-287 & NJ Turnpike • South Plainfield, NJ • 88,352 SF • 8,000 SF Office • Racking for 8,700 Pallet Positions • 24’ Ceilings • 10 Tailboards • Near Routes 1, 130 & Exit 8A of NJ Turnpike • South Brunswick, NJ • 41,500 SF • 5,000 SF Mezzanine • Image Building • 22’ Ceilings • 5 Loading Docks • Ideal as Showroom • At 2A of I-287, near the NJ Turnpike • Metuchen, NJ
429-449 Schiller St.
EDISON, NJ — Bus- sel Realty Corp. (BRC) , a leading industrial real estate services firm in New Jersey, announced its ar- ranged the sale of 429-449 Schiller St. in Elizabeth, NJ, a multi-tenant investment and industrial facility of approximately 40,000 s/f on four acres. The sales price for the transaction was not dis- closed. The buyer was Sitex Group, LLC (SG) and the seller was Major Associates. BRC vice president Jordan Metz was the broker repre- senting both the buyer and the seller in the transaction. Metz will be retained as exclusive broker to oversee leasing for the new owner. Sitex will make major capi- tal improvements that will enhance the property, mak- ing it even more attractive to prospective tenants. “Sitex made a quick, well-informed market decision which ul- timately positioned them ahead of several other suitors for this unique acquisition,” Metz added. n
Exclus i ve Broker Jordan Metz, Vice President | 973.493.0385 | jmetz3@me.com
Bussel Realty Corp 2 Ethel Road, Suite 202A, Edison, NJ 08817 | 732.287.3777 | Bussel.com Information obtained from sources deemed to be reliable, but no guarantee of its accuracy is made by the Company.
Jordan Metz, Bussel Realty.indd 1
11/24/2015 8:25:51 AM
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