Richter Grusd Lists 172,000 Square Foot Industrial Property For Sale

ISELIN, NJ, September 16, 2011 (Press-News.org) Sperry Van Ness | Richter Grusd, a commercial real estate brokerage firm serving New Jersey, announced the listing of 122 Quentin Avenue, New Brunswick, New Jersey. The 172,000 square foot industrial property is being sold for $34.60 per square foot at $5,950,000, priced $2,600,000 below its assessed value of $8,600,000.

"This property is on the market for the first time in more than 30 years having been occupied by a packaging company," says Doug Richter, Manager Director of the Metropark based organization. "Per CoStar (the real estate industry's top commercial listings database), there are currently only three industrial buildings for sale in Middlesex County between 150,000 and 200,000 square feet so we expect the activity level for this property to be high. Furthermore, we have instituted an aggressive pricing strategy of approximately $10-15 per square foot less than comparable buildings in the market."

The property is located in the New Brunswick industrial market, just off of Jersey Avenue and several blocks from Rutgers University, making it easily accessible to Route 1, Route 18 and the New Jersey Turnpike. The 6.78 acre site also holds the possibility for residential redevelopment.

"In addition, the building offers ceiling heights up to 48 feet, 11 loading docks, rail access and heavy power which makes it ideal for a manufacturing or warehouse user" added Ian M. Grusd CCIM SIOR Managing Director.

Managing Directors Doug Richter and Ian Grusd were both named Top 20 Advisors in the country by Sperry Van Ness International (SVNI) out more than 800 advisors nationwide this year. 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 122 Quentin Avenue 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.