Real Estate Journal — Central New Jersey — November 8 - 21, 2019 — 7B
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M id A tlantic
C entral NJ
STAG Industrial purchases 120,000 s/f distribution center WHPounds Commercial Real Estate in joint venturewithOPAS rep. owner in Lumberton sale L
lead to the client seeking to engage WHPounds to offer the property as an invest- ment sale,” said Bill Pounds , owner/ broker of record for WHPounds Commercial Real Estate. The property attracted a number of suitable buyers, including STAG Industrial, a real estate investment trust that invests in and manages over eighty million s/f of sin- gle-tenant industrial proper- ties throughout the United States. The tenant, FMP Inc., met the scope of STAG Indus- trial’s purchase criteria. FMP
Inc. produces and distributes commercial kitchen appliances nationally to a number of large restaurant groups. They are the premier distributor in the USA with an additional loca- tion in Nevada, to better serve its west coast clients. FMP Inc. was formerly owned by J Grato Enterprises, which previously sold the company but retained ownership of the property. In its desire to acquire the property, STAG Industrial placed the acquisition process on the “fast track” and closed within two months of their initial offer.
UMBERTON, NJ — WHPounds Commer- cial Real Estate, LLC in joint venture with OPAS, Inc. recently represented J Grato Enterprises in the sale of its 120,000 s/f single tenant industrial building located in Lumberton. WH- Pounds brought in OPAS, Inc. to team up in the marketing of the property. WHPounds had initially represented J Grato Enterprises in the 2002 sale of the former FMP 40,000 s/f headquarters located in Marl- ton. Concurrently, WHPounds conducted a site search for a new building, which resulted in the purchase of a 12.7 acre lot on the Mount Holly By- pass in Lumberton and then facilitated the build-to-suit of an 80,000 s/f new distribution facility. In 2011, the 80,000 s/f facility was expanded to 120,000 s/f. Earlier this year, the owner requested WH- Pounds and OPAS to offer the property for sale on a national basis. “One of the strengths of our company is long standing client relationships. That his- tory with the client in purchas- ing the property eventually Splendor rebrands Red Bank’s newest west side developments RED BANK, NJ — Market- ing and design agency Splen- dor has completed rebranding projects for companies and retailers reshaping Red Bank's west side, including Denholtz Properties , Sickles Market and Booskerdoo Coffee & Baking Co. The Denholtz rebrand was timed to coincide with the opening of the company’s new headquarters at 116 Chestnut St. Denholtz’s revamped mar- keting materials were utilized immediately, in a grand relo- cation party attended by more than 400 people, including New Jersey Governor Phil Murphy, Red Bank Mayor Pasquale Menna andmajor players in the commercial real estate space. Splendor’s talents have also benefitted retailers in Red Bank’s west side, including a new 9,000 s/f Sickles Market and growing coffee powerhouse Booskerdoo, with one of its new locations inside the market. Splendor is assisting both com- panies amid their respective expansions – including brand development services.
101 Mt. Holly Bypass
Heller Industrial Parks
15,000,000 SF
CENTRAL JERSEY STRONG
BUILD OWN LEASE MANAGE HELLERPARK.COM
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