STRO STARTS 2017 WITH A BANG - ACQUIRING FIVE INDUSTRIAL BUILDINGS IN THREE SEPARATE TRANSACTIONS
The Stro Companies acquires five buildings encompassing 210,000 square feet located in prime Northern New Jersey industrial markets.
Ridgewood, NJ – May 4, 2017 – Today, The Stro Companies (“Stro”) announced the acquisition of five buildings encompassing 210,000 square feet purchased in separate transactions from different sellers. The properties included:
“In a tough buying market we have continued to excel at finding true “Value Add” opportunities in New Jersey’s best industrial markets. Core to our success is working closely with the brokerage community and sellers to get transactions closed quickly. Brokers know we can and will deliver for their clients.” said Todd Minerley Director of Acquisitions & Leasing. “These transactions were all with sellers transitioning out of the real estate business. We believe our transaction style played a major role in completing these transactions. From the initial negotiations to the closing table we strive to get the deal done as painless and as fast as possible. We are pleased to add these exceptional assets to the portfolio.” said Mike Lachs, Director of Finance & Investments.
Founded in 1994 by Steven Millstein, The Stro Companies (“Stro”) maintains a portfolio of over 2 million square feet of investments in industrial, flex/industrial, and multi-family properties. Stro actively pursues new “Value-Add” and “Stabilized” small to medium size industrial real estate acquisitions in Northern New Jersey. The company also invests with outside operators in commercial real estate opportunities throughout the United States.