8B — February 10 - 23, 2017 — Central New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
C entral N ew J ersey
United Supply purchases 9,000 s/f building in Perth Amboy, attracted by city’s UEZ Status Rosengarten Realty & Development finds buyer for property 24 hours after it’s listed for sale P
erth Amboy, NJ — Rosengarten Re- alty &Development (RR&D) procured a qualified buyer for the commercial property at 494 Market St., corner of Herbert and Mar- ket St.s, in Perth Amboy just 24 hours after the building was listed for sale. Barry Rosengarten , the founder, owner and broker of record at RR&D that is based in Perth Amboy, is the procuring agent who connected United Supply withWest Marine, which was selling its 9,000 s/f building.
In discussing the transac- tion Rosengarten said, “A few months ago we realized that West Marine planned to consolidate the Perth Amboy and South Amboy stores in its new, larger Woodbridge facil- ity. Immediately, our team started contacting companies that may have an interest in the site. We often combine our knowledge of the local real estate market with opportu- nities like this as they arise to create successful sales, buy- ing or leasing transactions.” United Supply, a whole- saler of heating and air con-
ditioning equipment and accessories, purchased the building for less than $1 mil- lion. United Supply operates 10 facilities throughout New Jersey serving plumbers and mechanical contractors. The company features such well- known brands as Ruud, Fu- jitsu, Weil-McLain, Generac, Honeywell, and Southwark Metal as well as hundreds of smaller accessory lines. United Supply also owns the retail chain Kitchen & BathWorks, which sells plumbing fixtures. The near- est Kitchen & BathWorks to Perth Amboy is currently in North Plainfield. United Supply completed the purchase in late Decem- ber. The company plans to begin renovating the property in January and expects to open the facility by March. United Supply’s CEO Steven Kantor said, “We selected the Perth Amboy site because it is a great building in an Urban Enterprise Zone (UEZ) and located at the crossroads of New Jersey with easy access to many major highways.” United Supply also pro- vides value-added customer training to its clients at all locations. Manufacturers are continually upgrading the technology in their systems and to help keep contrac- tors informed about these changes, United Supply of- fers continuing education courses. The new Perth Amboy fa- cility will be the prototype for a new smaller footprint operation for United Supply, whose current facilities range in size from 20,000 to 25,000 s/f. The company’s growth strategy involves opening more midsize stores with plenty of inventory to meet customer needs. By locating in a UEZ, Unit- ed Supply customers who purchase their equipment and supplies at the Perth Amboy facility will pay half the New Jersey sales tax or just 3.5 percent. Perth Am- boy is a pro-business city. Mayor Wilda Diaz and the City’s key department heads have reduced the time to process permits and obtain certificates to occupy reno- vated facilities. Rosengarten said, “The City of Perth Amboy is ready to help United Supply open its new location on time.” n
494 Market St.
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