Richter Grusd Closes $3.5 Million Industrial Building Sale

ISELIN, NJ, June 09, 2011

Sperry Van Ness | Richter Grusd, a commercial real estate brokerage firm serving New Jersey, announced the sale of an 80,000 square foot industrial building at 192 Summerhill Road, Spotswood, NJ for $3.5 million. The Buyer, Dart Seasonal Products, was represented by advisor Iris Borger and Managing Directors Doug Richter and Ian Grusd.

"Between the Buyer's requirement for rail service and the complexities of today's financing climate, this assignment had its challenges," explains Richter. "Acting as a real estate advisor in today's market is akin to bucking a bronco at the rodeo - you have to hold on tight."

Founded in 1993, Dart Seasonal Products is a premier producer of snow and ice removal products. The expansion of their product line and resulting increased business led to their decision for relocation. The Seller, Greif (NYSE: GEF, GEF.B), was represented by Kyle Eaton and Tom Kirczow of Grubb & Ellis.

Managing Directors Doug Richter and Ian Grusd were both recently named Top 20 Advisors in the US by Sperry Van Ness International (SVNI) out more than 800 advisors nationwide. Additionally, a 2011 survey from The Lipsey Company reports that the organization was named as the 10th most recognized brand in commercial real estate.

For more information about this property or Sperry Van Ness' commercial real estate advisory services, contact Doug Richter or Ian Grusd at (732) 906-0505 or visit http://www.svn-rg.com.

About Sperry Van Ness

Founded in 1987, Sperry Van Ness is one of the largest and fastest-growing commercial real estate brokerage firms in the industry, with more than 800 advisors in over 130 locations. Sperry Van Ness delivers results for clients through a proven business model that immediately markets every one of its clients' properties to the entire brokerage community. Based in Irvine, California, the firm operates internationally and provides brokerage, consultation, asset management, property management, leasing, accelerated marketing and auction services. Sperry Van Ness' gross sales volume totals billions of dollars annually in office, multifamily, retail, industrial, self-storage, hospitality and land transactions. For more information, please visit http://www.svn.com.