The Blau & Berg Company arranges the sale of ±54,206 s/f industrial building at 716 Industrial Park
- MAREJ
- Jun 28, 2021
- 2 min read
Muncy, PA — The Blau & Berg Company, a prominent commercial real estate brokerage firm in the New Jersey and Tri-State area since 1932, recently arranged the sale of ±54,206 s/f industrial building in Muncy. Jason Crimmins, SIOR, CCIM, Alessandro Conte, SIOR, CCIM, Peter Murano, Jr., SIOR, and Michael Schipper, SIOR of The Blau & Berg Co. represented the buyer, 716 Industrial Park LLC while Mericle Commercial Real Estate Services represented the seller.
“Our client, a multi-state operator in the medical supply and pharmaceutical industry, leveraged our services in an effort to obtain a more cost-effective warehousing solution within reasonable reach to their NJ headquarters,” said Michael Schipper, SIOR, senior executive director for The Blau & Berg Co. “The location is within ten miles of I-80 and provides for direct connection to their clientele nationwide.”
In New Jersey, The Blau & Berg Co. arranged the lease of ±34,000 s/f of industrial space in Newark. Crimmins, SIOR, CCIM, Conte, SIOR, CCIM, Murano, Jr., SIOR, and Schipper, SIOR represented the landlord, Dubrow Management Corp., while Bill Waxman of CBRE represented the tenant United Airlines, Inc.
“Our team was proud to represent the landlord on this transaction who has been a long-time client of The Blau & Berg Company,” said Conte, SIOR, CCIM, executive vice president of The Blau & Berg Co. “The property, a former USPS vehicle maintenance facility on 5.16 acres was an ideal fit for Newark Airport’s United Airlines. Maintenance facilities remain scarce in the market, especially those with ample parking such as this. E-commerce has been driving developers and investors to build big-box warehouses and distribution centers however the need for maintenance and parking is in higher demand.”
Newark real estate continues to be a highly competitive environment, as e-commerce, logistics, and industrial demand far outweigh supply. This recent transaction allows United Airlines to remain a leader in the airline industry and stay committed to providing a level of service to their customers.
