Robert McGrath Receives 2004 most valuable broker award
Robert J. McGrath has recently been recognized as the 2004 Most Valuable Broker in the New Jersey market by First Industrial Realty Trust, Inc., of one the nation's largest provider of diversified industrial real estate. As part of First Industrial's FIRST CLASS Broker Recognition Program, Regional Director Hayden Tiger cited McGrath's superior performance in the field of industrial real estate as a significant factor in its selection process.
The FIRST CLASS Broker Recognition Program was developed by First Industrial to demonstrate commitment to the brokerage community. The combined efforts of both First Industrial and Robert McGrath during 2004 have provided superior industrial real estate solutions to their clients.
A seasoned real estate veteran, Robert McGrath has over 30 years experience in commercial real estate brokerage, appraisal and development. Kenneth F. Crimmins, president of The Blau & Berg Company, Springfield , NJ , commented that McGrath has been one of The Blau & Berg Company's top brokers, consistently recognizing and skillfully negotiating the best deals in the interest of his clients. A designated member of the respected CCIM Institute, he is dedicated to high ethical standards of practice, marketing and advanced technology. He attended Rutgers University , SIOR Courses I and II, and holds a New Jersey real estate broker's license.
The Dealmaker: Kenneth F. Crimmins Interview
"I think the economy has definitely leveled off, and I see signs of improvement. I think we'll see modest growth, but I don't think we'll see tremendous growth. But even modest growth is good for the real estate business, good for the economy and good for the state. We're coming off a banner year last year, and so far this year we've completed about 135 transactions to date, including office, retail, industrial and land."
A banner year in a down market ... how did you accomplish that?
"With the downsizing and consolidation that has taken place, people have started new companies, and we've had a lot of success with transactions in that area. Those are smaller transactions, of course, industrial space from 20,000 to 50,000 sf. The market still seems to be quite good and has not had the downward trend that the 'big box' business has incurred.
"We've been expanding ... we've added a number of new salesmen on staff. We've been very fortunate, because the quality of the young people who want to come into this business is very good --- it's excellent. Some of the sharper people I've ever met, I'm meeting now. I think they're going to do well for the business and do well for this company."
What's your market coverage?
"We primarily cover the northern part of the state, from Middlesex County north. We have had some transactions down in the south, but not as many as up north. We just did a deal in Millville that was almost 100,000 sf. We do a lot of trucking deals, and we've done a couple in Pennsauken recently. We will be opening up an office in Denville, and probably one down around Edison. Denville will probably be open in January."
"We do a fair amount of business in Newark and other cities, and that, of course, benefits from Gov. McGreevey's position on smart growth. The cities have the infrastructure, and everything is in place. That's also where the brownfields are, and I think brownfields redevelopment benefits everybody.
"Another issue is manufacturing jobs, which continue to go off-shore. The Governor's philosophy is to attract smaller businesses, including start-up companies, and I think the state will benefit by it."
How did you get into real estate?
"It was kind of by accident. I was a financial analyst with Dart Industries, and I was in five different states within two years. The last state I was in was Arizona. I had two kids and I decided to come back to New Jersey. I wanted to get into the construction business, and sort of by accident I got a job with the Leslie Blau Co. I was fortunate enough to make a couple of deals in my first year and decided this is where I belong. And I've been here ever since --- 32 years."
What's the best part of your job?
"You meet some very dynamic, influential people that are exciting to work with. I also enjoy seeing some of the younger people in the company and in the industry start to really find themselves. You see them enjoy helping people as much as I do and being part of fulfilling somebody's dreams as far as getting the right building."
"Deals falling apart ... but that's part of the business. You can work two years on a project, and then it falls apart. Unfortunately, it doesn't just 'fall apart.' It falls apart five times before it finally 'falls apart.' You're constantly trying to bring life back into transactions. Sometimes you win, and sometimes you don't."
Quebecor to Establish Warehouse in Edison
Springfield, New Jersey -- October 23, 2001 -- The Blau & Berg Company successfully brokered a long-term lease of a portion of 958 Mill Road in Edison, NJ, to be used as a storage facility by Quebecor World Logistic for its print materials.
Kenneth F. Crimmins, CCIM, SIOR, President and CEO of The Blau & Berg Company, headed the team that represented both parties.
Crimmins said this lease became possible through the combined efforts and professionalism of everyone involved. Steven I. Kaufman, Vice President of Property Management for Heller Industrial Parks, Inc., was particularly instrumental in keeping this deal on track.
Committed to its clients' success, Blau & Berg is a real estate brokerage firm offering a full range of services in industrial, commercial, office sales and leasing and property management. It is also a major player in the trucking industry with extensive experience in truck terminals and distribution, logistical facilities, port properties and service and repair facilities.
Quebecor, one of the world's largest commercial print media services company, aims to better serve its clients by utilizing the facility as its northeast regional distribution center. John Burke, General Manager of Quebecor, states that "storing our many magazines, directories, catalogs, and books in the warehouse allows us to deliver materials to our customers quickly and more efficiently, better leveraging ourselves as a leader in the print and image management industry. This warehouse is perfect for our use."
While the entire property is 958,446 sq. ft., the lease between the landlord, Heller Industrial Parks, Inc., and the tenant, Quebecor, only covers a 38-door facility 146,559 sq. ft. in size. Its other features include 36' clearing height, 140' loading courts and ESFR sprinklers. According to Burke, another feature which attracted Quebecor to this property is its location. The warehouse is conveniently located minutes from the New Jersey Turnpike, Interstates 95 and 287, Routes 1 and 9, and the Garden State Parkway.
For additional information on The Blau & Berg Company, visit www.blauberg.com or call 973-379-6644.
USPS to Establish Distribution Center in Teterboro
Springfield, New Jersey -- October 23, 2001 -- The United States Post Office has purchased a 333,000 sq. ft. facility at Teterboro, NJ, for approximately $39 million to be used as its new Northern NJ Metro Processing and Distribution Center.
Since 1995 the United States Post Office had been scouting for prime locations in northern New Jersey for a Northern NJ Metro Processing & Distribution Center. With the assistance of The Blau & Berg Company, the USPS decided on the Teterboro building, one that they came close to acquiring several years ago. Other properties considered were located in Clifton, Little Falls, Totowa, and Montville Township.
Kenneth F. Crimmins, CCIM, SIOR, President of The Blau & Berg Company, headed the team that represented both parties in the transaction. He pointed out that, because of the property's size and location, the use by the USPS of the property as a major distribution center "will significantly improve postal services within the area." Blau & Berg is a brokerage firm offering a full range of service in industrial, commercial, office sales and leasing, and property management services. It is also a major player in the trucking industry with extensive experience in truck terminals and distribution, logistical facilities, port properties and service and repair facilities.
Constructed in 1996 by The Morris Companies, who, led by Joseph Morris, Chairman, played a pivotal role in the success of the transaction, the 333,000 sq. ft. building is fully air-conditioned and contains 14,000 sq. ft. of office area, 32' ceiling height, 35 loading docks, an ESFR sprinkler system and sufficient parking for 263 cars and 90 trucks. Aside from size, another feature that likened the USPS to this facility is its proximity to existing facilities in South Hackensack and Paterson, and its easy accessibility to all major thoroughfares in the Garden State. The property is located at 200 Industrial Ave., Teterboro, NJ, and is situated minutes from Routes 46, 80, 95, the Garden State Parkway, and the New Jersey Turnpike. And, as a bonus, the facility is situated just across from the Teterboro Airport, one of the fastest growing small airports in the state.
Purchased from Keystone Property Trust, the USPS plans to covert it into a state-of-the-art service center and absorb the responsibilities of the Hackensack and Paterson post offices. Once up and running, the new facility will not only be capable of processing one million pieces of outgoing first class mail daily but will also generate 1,000 new jobs.
For additional information on The Blau & Berg Company, visit www.blauberg.com or call 973-379-6644.
Blau & Berg Brokers 207,107 S/F Lease at 397 East 54th Street
Elmwood Park, New Jersey - April 17, 2001 - According to Kenneth Crimmins, CCIM, SIOR, president and CEO of The Blau & Berg Company, a lease for 207,107 sq. ft. of space has been completed at 397 East 54th Street from Hartz Mountain Industries, owners of the 224,050 sq. ft. property.
Blau & Berg represented the tenant, Marcal Paper Mills, Inc., who will utilize the property to expand its existing distribution center which is in close proximity to Marcal's Elmwood Park headquarters and production plant. The building is ideally suited to the company's warehousing and national distribution operations.
Crimmins handled the negotiations for the long-term lease for Marcal Paper Mills, Inc., for Blau & Berg, along with Anthony Bufanio, CCIM, director, and other members of the team. Hartz Mountain Industries was represented by Ernest Cristoph, senior vice president, sales/leasing. "We're pleased to welcome Marcal as another premier company in the Hartz family of tenants," said Emanuel Stern, president of Hartz Mountain Industries, Inc. "Both of our firms have important legacies in New Jersey, and it actually is somewhat surprising that, given our lengthy histories, this lease is our first transaction. Now that it's done, we look forward to a long association with an outstanding member of the New Jersey business community."
Hartz Mountain Industries, Inc. owns and manages one of the largest privately held commercial real estate portfolios in the U.S., comprised of 185 properties and totaling more than 35 million sq. ft. in the northern New Jersey/New York area. Marcal's newest Elmwood Park facility is sited on 11.8 acres in central Bergen County.
The Blau & Berg Co. has provided corporate real estate services to the world's major users of warehouse complexes, distribution centers, and corporate office facilities. It is also a major player in the trucking industry, bringing solutions to facility and logistical requirements throughout the northeast.
Blau & Berg Negotiates Purchase of Warehouse
Springfield, New Jersey - February 4, 2001 - The purchase of the 40,000 sq. ft. warehouse-distribution facility at 821 St. George Ave., Woodbridge, by Gilbert Home Delivery Corp., was announced by Kenneth Crimmins, CCIM, SIOR, president of The Blau & Berg Company. According to Crimmins, Gilbert Home Delivery purchased the building after a year of occupancy, during which it leased the facility.
The lease and the purchase of the facility were negotiated by Crimmins who represented both parties in the transaction.
Gilbert Home Delivery's decision to purchase the Woodbridge facility was fueled by a highly charged economy and the company's need to handle an ever-increasing volume of business. While those who are involved in warehousing and consolidation of freight have been adversely affected by a dearth of affordable and available warehouse space, Gilbert Home Delivery had the foresight to lease space on a short-term basis, allowing for flexibility and the option to purchase based on market requirements and price. The Woodbridge facility was ideally suited to the company's needs.
Situated on 8 acres of fenced, paved property with a truck terminal, the site is strategically located near the New Jersey Turnpike, Garden State Parkway and the Routes 1 and 9 corridor linking New York and points south.
Founded in 1996, Gilbert Home Delivery Corp. is a division of the Gilbert Companies, a fully integrated transportation and logistics company with headquarters in Linden.
The Blau & Berg Company has provided corporate real estate services to the world's major users of warehouse complexes, distribution centers and corporate office facilities.
Atlantic Marine Terminals Leases PA Port
Springfield, New Jersey - Kenneth F. Crimmins, CCIM, SIOR, president of The Blau & Berg Company, completed the leasing of the USX Corporation Fairless Works, PA, port on the Delaware River to Atlantic Marine Terminals of Belle Mead. "This is a tremendous opportunity in transportation which will not only create new jobs, but also attract new business and industry all over Bucks County," said Crimmins.
Carl Decator, president of Atlantic Marine Terminals, said the company expects to handle cargo from about one dozen vessels a month within a year. The company will hire union workers to handle lumber, plywood, hardboard, steel vehicles, nonferrous metals and contained cargoes for import and export on the East Coast and abroad.
The community of Falls Township is excited about Atlantic Marine Terminals' potential to draw new industries to the only commercial port in Bucks County. The port closed in 1991 when US Steel shut down its steel-producing facilities. US Steel now employs about 1,000 workers and has been redeveloping the 2,000-acre site for the last three years.
Blau & Berg Markets Elizabeth Property
Springfield, New Jersey - Within a year's time, Blau & Berg has arranged leases for one-third of a 1.26 million sq. ft. complex on 21 acres at 666 Front St. in Elizabeth.
The owners, Joseph Cory & Sons, have extended the exclusive services of Blau & Berg to market the remaining complex. Available for lease or sale at below-market price of $17 million, the complex is divisible to 50,000 sq. ft. sections at $1.99 net.
The property is ideal for development, warehouse distribution, recycling, cogeneration, environmental clean-up/response or manufacturing.
Located at Exit 13 of the New Jersey Turnpike, directly at the Goethals Bridge access ramp, the site is approximately one mile from Routes 1 and 9 and minutes from Staten Island leading to Brooklyn and Manhattan.
The locale offers tenants proximity to Newark International Airport, Linden General Aviation Airport, ports Newark and Elizabeth, and deep-water bulkhead on the Arthur Kill waterfront.
The buildings, constructed primarily of reinforced concrete, were remodeled in 1985. Key features include 160 tailboards plus an eight-bay garage. All the buildings are in Elizabeth, except one building which is located just over the municipal border in Linden. The 21-acre parcel is flat and graded and most of the land (not occupied by structures) is paved. The six principal buildings are served by municipal streets and sewer and water facilities.
Among the tenants in the complex are CDS Furniture Handlers Inc., which leased approximately 200,000 sq. ft. in Cory's 330,000 sq. ft. industrial building. The space will serve as a warehouse/distribution center.
The two-story, brick-block and steel building formerly served as the East Coast furniture warehouse for Seamans Co.
Nick Casertano, president of CDS, says he selected the building for its attractive rental rates, multitailboard loading doors, expansion possibilities, proximity to the company's former location and past relationship with the owner.
"We had two separate buildings in Union and we wanted to combine them into one larger facility," says Casertano, whose company moved into its new quarters in July, 1992.
"I knew the facility, knew what the owner had put into it, and it was exactly what we were looking for," Casertano adds.
In another transaction, International Recycling of New Jersey leased 85,000 sq. ft. in the same building.
Richard Strum, president of International Recycling, chose the building for its good location and deep water bulkhead, which wil be used to export merchandise.
"It's a very good building and the people who work with Cory are always available," says Strum, who moved into the facility in August, 1992.
The transactions were arranged by Blau & Berg's president Kenneth F. Crimmins, CCIM, SIOR.
Blau & Berg has been actively involved in office, industrial and commercial real estate since 1932. Most of its business is marketing, leasing and building-to-suit warehouse complexes, distribution centers and corporate office buildings. It has represented Fortune 500 companies and international corporations as well as medium-sized and smaller regional and local companies in the metropolitan New York and New Jersey market. Blau & Berg remains one of a handful of major, full-service real estate brokerage firms serving this market.