Genesis | Real Estate的动态

Bussel Realty Corp Leases 12,500 SF at 240 North Randolphville Road in Piscataway, NJ EDISON, NEW JERSEY (January 13, 2025) – Bussel Realty Corp. (BRC), a leading industrial/retail real estate services firm in New Jersey, today announced its leased 12,500 square feet at 240 North Randolphville Road in Piscataway, New Jersey, a 22,500-square-foot industrial property, to MCR Cabinetry Inc. Anthony Mircovich, vice president of BRC represented the landlord, Sullivan Family Holdings, in the transaction. The tenant was represented by Y.Y. Lien of EXP Realty LLC. “The landlord was extremely pleased to have no downtime in vacancy as the new tenant took immediate occupancy at full asking price,” noted Mircovich. 240 North Randolphville Road in Piscataway, New Jersey is a 22,500-square-foot industrial building located near I-287 and the New Jersey Turnpike. The property features two loading doors, two drive-in doors, 1,500-square-foot offices, wet sprinklers, 20-foot clear ceilings, and 400 amps of power. About Bussel Realty Corp With one of the largest dedicated industrial brokerage staffs in New Jersey, Bussel Realty Corp. (BRC) is a leading industrial/retail real estate services firm located in Central New Jersey with individual memberships in the Society of Office & Industrial Realtors (SIOR). BRC provides leasing and sales brokerage services to users, corporate occupiers, landlords, retailers, owners, and investors, representing millions of square feet of property and tenant client assignments annually. The firm’s clients have included several of the largest Fortune 500 Companies, as well as numerous manufacturing, distribution, retail and services companies both nationally and locally. Currently, BRC is handling in excess of three million square feet of corporate and industrial real estate in New Jersey. #busselrealty?#commercialrealestate?#commerciallisting?#commerciallistings?#commercialproperty?#commercialspace?#commercialrealestate?#commercialleasing?#commercialleasingagent?#njcre?#industrialspace?#warehousespace?#warehouselease?#newjerseywarehouse?#northernNJ

?? Evaluating 4 Key Factors in a Recent Lease: Landlord Representation at 401/403 Serendipity Dr in Millersville ?? Challenges: ? The current tenant was seeking to terminate the lease but still controlled the property for another 2 years. ? The landlord wanted security but was unsure if it was worth relieving the current tenant and finding a replacement. ? Was the market strong enough to attract a new tenant at a higher base rent within a short timeframe? ?? Solutions: ? Assessed the demand for warehouses along the BWI corridor by analyzing recent transactions in our portfolio and speaking with landlords/brokers in the area. ? Evaluated comparable rents and compared how the property measured up to the market average. ? Met with the outgoing tenant to understand their relocation needs, the condition they'd leave the space in, and how much time they'd need to vacate fully. ?? Results: ? Secured a 10% increase in annual base rent. ? Identified a new tenant within 90 days and signed a lease just 120 days after listing the property. ? Negotiated a buyout with the outgoing tenant to cover the full cost of the new transaction. ? Feedback: “Over the last ten (10) years, we have worked with George Shenas at Hyatt Commercial on our industrial property in Millersville, MD... Unyielding effort on our behalf and extraordinary communication throughout the process. He has exceeded our expectations on every transaction." -Alan Livadas, Owner of 403 Serendipity Dr Congrats to the leasing team George Shenas & Collin Mercier for seeing through the challenges & getting this done! #RealEstateSuccess #MarketAnalysis #CommercialLeasing

Interesting report regarding the health of multi-tenant retail. A few data points really caught my attention… ?? Vacancy rates are at lowest level since 2003 at 4.7% ?? Over the past three years, an average of 10,000 new leases were signed annually for 1,000-5,000 SF spaces (this stat blew me away) ??? New construction of strip center space is at lowest level since at least 2000 with half of the new supply located in Texas and Florida What are you seeing in the world of multi-tenant retail? Follow ?? #NetLeasePro #CRE #commercialrealestate

I closed this deal a few months ago and it highlighted how important relationships are and who you know.?Here’s the short version of the back story: I had just finished a CCIM course and was practicing what I learned on underwriting properties when this property came up fresh on the market.?At first glance it looked like a decent deal, then after running numbers, it looked like an even better deal! ?I sent these pro forma numbers to several investors I knew and one of them decided to put in an offer.?We were one of 3 serious offers and won the contract.?That was the beginning of the roller coaster… The property had been a warehouse since it was built in the 50’s, but it had been zoned R-2 the entire time…?With the change in ownership and bringing the building up to code, the zoning was going to need to be changed before closing… The problem was the city had rejected the C2 zoning request (or anything industrial) from the seller and it looked like if my buyer did purchase the building, we would have to convert it to retail or office space.?This simply did not work with the numbers and location, so, I got my zoning consultant involved and he was able to present our case to the correct city council woman and in a way she agreed with.?Much to the surprise of the seller and the sellers agent, the rezoning was approved, because of our efforts, and we were able to close the deal.?This was all possible because of the contact I had with the consultant and the relationship he had with the city council members. ? I will always remember this deal when I hit a wall while under contract and I will remind myself to approach problems from a different angle when they arise. So, did the investment side work out as I had projected??Yes!?We are in the middle of splitting up the building to provide smaller spaces that are in higher demand and are close to signing leases on 3 out of 4 spaces. P.S. Call me if you need warehouse space in Chattanooga or North Georgia. I have 14 spaces for lease ranging from 2,200 sf to 260,000 sf.?

This is an interesting article that explains the drop in activity for many of the segments but Industrial still being the top player. You drive around and see one large warehouse after another being built so you get the impression of a busy market, but in reality the Retail, Office and Medical spaces are still dragging behind. I would imagine as interest rates drop and after the election, we will see that change for the better. #commercialrealestate #creindy #wkrpindy

Loan Take Over financing on this one at 3.875% fixed for 30 years. This is an example of the type of deals we are finding in the current market.

Seven Tenants Renew and Sign New Leases at New York MarketCenter Read the full article below..

Sparking open conversations with the right people at the right level of influence on the landlord side is critical for rectifying value detractors (such as a demolition clause) in an existing lease. Demolition clauses can be immovable monoliths. If your business sale is taking a hit because buyers are objecting to a demolition clause, take a moment. Get some perspective. Test the assumptions and put a value proposition to the landlord. You might just find they are not as immovable as you think. Oh, by the way - I can help with this. #leasenegotiation #retail #sydneyretail

?? Retail Update: Knoxville & Surrounding Areas It brings me great pride to work with small business owners and commercial investors! Stay ahead of the market with the latest retail closings in Knoxville and nearby communities. Understanding local market changes can help you spot new opportunities and make informed decisions. Here are just a few of my recent #retail closings in the #knoxville area. ?? Need expert guidance? I specialize in helping businesses navigate leasing, buying, and selling retail, office, and industrial or warehouse properties. ?? Let’s Talk Business! Contact me today to explore how these changes could impact your business growth. If you need to seed the #comps in your area and want to know what your building is worth or need to increase or decrease your space, please contact so I can help. #KnoxvilleCRE #RetailClosings #SmallBusinessSupport #CommercialRealEstateExperts #MarketInsights #KnoxvilleInvestments #CREOpportunities