Value Asset Management Executes Leasing Program for 40-Unit Downtown Montclair Rental Building
CLIFTON, NJ – Value Asset Management (VAM) has successfully executed the leasing program at The Montclarion at Bay Street Station in Montclair, N.J., once again proving why developers and property owners call upon the advisory and management firm when seeking results.
The Clifton, NJ-based company completed leasing for the project’s 40 rental homes for local developer and owner Richard Polton. After achieving the notable milestone and the successful stabilization, VAM will remain on hand to direct management and operations for the five-story LEED-certified building.
The Montclarion at Bay Street Station is located at 125 Bloomfield Street steps away from Montclair’s Bay Street New Jersey Transit Station. The building follows in the footsteps of The Montclarion, a 56-unit rental building originally built in 1985 and recently upgraded.
“Retaining Value Asset Management was a decision that provided incredibly positive returns for The Montclarion at Bay Street Station,” Mr. Polton says. “It allowed us to tap into their extensive resources which include a market expertise and full staff of in-house leasing and marketing professionals, maintenance personnel and industry advisors. This ensured the building would receive considerable rental interest and be quickly absorbed. Our relationship with them has paid big dividends.”
VAM, a full-service division of Value Companies, provides management capabilities and customized asset solutions to third-party real estate investment and property owner clients. The Montclarion at Bay Street Station is one of many assignments the company has in northern New Jersey. VAM has a well-respected track record and proven ability to market ground up developments and turnaround existing apartment complexes. Its notable successes include Dorchester Manor in New Milford, NJ and Arlington Park in North Arlington, NJ.
Value Asset Management offers a “hands on” approach, staffing communities with the kind of multifamily professionals, leasing agents and maintenance personnel that have been instrumental in crafting Value’s sterling reputation for customer service and management efficiency.
As its corporate name suggests, Value Asset Management also, but not exclusively, specializes in value-add multifamily investments; properties where there are opportunities to redevelop, reposition, or generally improve the fixed assets, curb appeal, resident relations, maintenance operations and other programs that make improving real estate an exercise in community building and value creation.
Another added bonus is Value’s unique skill set that comes from developing, owning and managing a variety of properties, including large-scale suburban and urban sites and low-and mid-rise buildings.
Value Companies currently owns and manages a portfolio of 3,226 residential units across fifteen communities located throughout New Jersey, Pennsylvania and New York. The firm has an outstanding track record in property management since 1952; and its proven experience and passion for excellence have established the company as one of the Northeast’s leading real estate developers, owners and managers.
For more information on Value Companies’ third party property management services, please contact the company headquarters at 973-473-2800 or visit www.valuecompanies.com.
About Value Companies
Value Companies, founded in 1952, is a leading real estate development, investment and management company. Across its development division, Value Companies has embarked in new apartment developments and investments in strategic suburban and urban locations throughout the country. Value’s development success is directly tied to its steadfast commitment and expertise in multifamily housing, and its ability to introduce new housing products that address consumer and community needs.
Value’s residential properties are built and managed by a highly-skilled, in-house management team of more than 80 industry professionals which oversee all aspects of Value’s communities, including construction, leasing, maintenance, property management and administration. Value’s third-party management business, Value Asset Management (VAM), provides full-service management capabilities and customized asset solutions to a growing list of third-party real estate investment and property owner clients. Value Companies also received numerous industry awards for its various properties as well as being a 4-time recipient of the New Jersey Apartment Association Management Company of the Year award.