May 20, 2020
The Blau & Berg Company, a prominent commercial real estate brokerage firm in the New Jersey and Tri-State area since 1932, recently arranged the first finance division deal for the company. Scott G. Savastano of The Blau & Berg Company represented client, Camisa Physical Therapy and Sports Rehab. Savastano assisted in finding them 5,800 SF to sublease for 6 months and then a lease thereafter.
The space was previously a personal training gym. Savastano’s client purchased that business, assumed the remaining 6 months of the gym’s lease and created a brand new physical therapy facility inside the space. There is plenty of parking, high ceilings, mens’ and womens’ locker rooms with showers. This was a start-up business for the client who had no capital to start this new venture. Savastano sought out loan possibilities and met with several banks and their SBA departments.
Merrill Lynch and RBAC – Regional Business Assistance Corporation provided the SBA loan. This process began in October 2019 and the loan closed on April 24, 2020. This funding will enable the client to acquire state of the art equipment and innovative modalities, as well as cover supplies, rent and payroll while they await the insurance which usually takes anywhere from 60 to 120 days.
About The Blau & Berg Company
The Blau & Berg Company (www.blauberg.com) was founded in 1932 and holds a leading position in the New Jersey and Tri-State commercial real estate market. Headquartered in Short Hills, New Jersey, The Blau & Berg Company is an independent, full-service commercial real estate brokerage firm, providing expert and personalized services in industrial, office and retail real estate, including: site selection, acquisitions, dispositions, leasing, tenant representation, portfolio sales, asset repositioning, and property & construction management.
