September 9, 2019
The Blau & Berg Company, a prominent commercial real estate brokerage firm in the New Jersey and Tri-State area since 1932, recently brokered the sale of a ±56,800-SF office/flex property on South Clinton Avenue in South Plainfield, NJ to JL International Realty, Inc., a prominent investment company. Brad P. Jacobs and Tamara Blau of The Blau & Berg Company represented the seller and Scott G. Savastano of The Blau & Berg Company represented the buyer in this transaction.
“The property is located in a great area along the I-287 corridor servicing both industrial and small office tenants. The building has been well maintained by the sellers and it is the buyer’s intention to maintain the same quality of service,” says Scott Savastano, Director of Capital Markets for The Blau & Berg Company. “The Buyer’s investment criteria required a stabilized rent roll with upside. This investment offered a strong cap rate with the opportunity to increase the net operating income as the tenancy rolls over in the near future.”
Located on the corner of South Clinton and Hamilton Boulevard between exits 4 and 5 on I-287 and featuring ±44,600 SF of industrial and ±12,200 SF of office space, the property is in a prime, accessible location for office, industrial and flex space users.
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.