Mid Atlantic Real Estate Journal — December 21, 2012 - January 10, 2013 — A
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M id A tlantic R eal E state J ournal E New Jersey properties now 99 percent occupied Heller Industrial Park passes 2 million s/f of leases in 2012 home accessories, leased 73,343 s/f in South Brunswick. tices on portfolio availabilities, in order to keep the lines of communication open. DISON, NJ — Heller Industrial Parks , one of the nation’s largest
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• Fleet Distribution, which provides third-party logistic services to importers, manu- facturers, and retailers, signed a 72,560 s/f renewal in Har- rison. • Diamond Distribution re- newed its 52,082 s/f lease in Edison. “The fact that much of our activity has been lease renew- als is a testament to the hard work and dedication our Heller team gives to our customers,” said Heller president Jeff Milanaik . “From capital im- provements at the properties to our solar capabilities, we have increasingly strived to meet their property needs by providing whatever services are beneficial for their business.” In addition to the square footage that Heller has leased, the company has now delivered more than $1 million in broker commissions so far this year. In 2011, brokers who worked with Heller generated more than $2 million in commis- sions. Among various ways they maintain those key broker developer relationship required to generate this type of success is through sending weekly no-
“As a broker, I look forward to working with Heller because they have a great customer-cen- tric attitude when we’re work- ing to close a deal,” said Tom Nuara, of Resource Reality, who closed a larger renewal with Heller earlier this year. “With 99 percent of their portfolio con- stantly occupied and the mutu- ally beneficial relationship that exists, I feel confident working with Heller knowing that they are broker-friendly and want to reach a deal as well.” In the past tough economic climate, brokers found even more reasons to do business with Heller specifically because of their approach to working with their customers. An addi- tional benefit is Heller’s robust financial condition that allows them to establish rental rates that are lower than neighboring property owners’. “We have always valued our relationships with the brokers,” said Heller President Jeff Mi- lanaik. “They have a passion for what they do and a tireless work ethic, making them an im- portant aspect of why we are so successful in closing deals.” n
privately held owners and d e v e l o p e r s of industrial real estate an- nounced that the company has s i gned more than 2 million s/f of
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leases throughout its New Jer- sey industrial portfolio so far in 2012. With these transactions, Heller’s properties now have less than a 1% vacancy rate, with no vacancies in South Brunswick. Some of the significant trans- actions include: • American Logistics Net- work signed a 34,560 s/f re- newal in Edison. • Fairway Logistics leased 175,750 s/f in South Bruns- wick. • Halls Warehouse, which provides frozen, refrigerated and dry storage, renewed a lease totaling 269,362 s/f in Edison. • Sims Recycling, an elec- tronic recycling center, renewed a 92,140 s/f lease in Edison. • Park B. Smith, a provider of
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SELA Properties purchases 12 unit Jersey City building for $715,000
Jersey City, NJ — A Fort Lee based investment company, SELAProperties has
announc ed i t s r e c e n t p u r c h a s e of a 12 unit building in the Lafayette area of Jer- sey City. Tal Steinberg , m a n a g i n g pa r t ne r o f
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Tal Steinberg
SELA, reports of a purchase price of $715,000, noting that “We believe in this up-and- coming area of Jersey City, with its good transportation to NYC, its proximity to both Downtown Jersey City and Journal Square and the fact that there have been some major positive changes made to this neighborhood in the past few years.” The company is scheduled to close on one or two addition- al purchases in the Hudson County area by year end, add-
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ing to a few properties already purchased this year. SELA Properties is currently concen-
trating on undermanaged and distressed multifamily build- ings in Hudson County. n
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