Corporate America Realty & Advisors Announces an Ice Breaking Deal
Corporate America Realty & Advisors (CARA), based in Rutherford, New Jersey, announces the sale of an approximate 46 acre Industrial site on Old Water Works Road, Old Bridge, New Jersey to Kennedy International, Inc (“KII”). The site will host a brand new state of the art 315,000 SF Distribution Center that will be the first newly constructed Industrial facility in Old Bridge since the mid-1970s, exceeding 130,000 SF.
The purchaser’s principals, Mr. Henry Guindi and Mr. Mendy Reich, have guided “KII” in becoming one of America’s largest and fastest growing general houseware wholesalers. Currently, it is situated in a 192,000 SF newly built, leased facility in Dayton, New Jersey that contains a 36’ clear ceiling height.
KII engaged Mr. Howard Applebaum, President of Corporate America & Realty Advisors to create a strategic plan that included a 300,000 SF distribution facility with a 40’ clear minimum ceiling height within a specific area of Middlesex County. Applebaum implemented this plan that included a short term sublease at a nearby 140,000 SF warehouse in Dayton, NJ. Slated for completion in April 2017, this warehouse includes racking and office furnishings that “KII” purchased at a deep discount and were “rolled into” the larger 192,000 square foot Dayton “long term leased” facility. The successful plan included “KII” leasing out their original 190,000 SF, 24’ clear facility in South Brunswick at a higher rent than they paid at the Dayton facility.
“KII’s” new Old Bridge facility will be a state of the art warehouse with 40 loading docks, 42’ ceiling heights, LED lighting and solar panels. Applebaum, exclusively represented “KII” with the purchase of the 46 acre site from the well-known established Real Estate Developers, The Brunetti Organization. Applebaum’s experience with the complexities of structuring complex sales transactions assisted in assembling the other members of the development team. These members include Sills, Cummis & Gross/Newark, NJ (Legal), and, ARCODB/ Atlanta, GA (Construction & Design).
Applebaum credited Old Bridge Mayor, Owen Henry, and Stephen Mamakas, Executive Officer for the township’s economic development office, for their assistance.
For information about “Exclusive Tenant and Buyer Representation” and what makes CARA “truly unique”, their newest Explainer Video can now be viewed on YouTube: https://youtu.be/83dI8Do6Si8.