Picasso Lighting Takes 88,000-SF Bldg.

HILLSIDE, NJ-Picasso Lighting, which once occupied multiple locations in Brooklyn, NY, has consolidated its operations at an 88,000-sf industrial building on North Broad St. here. Pecaso Realty, a real estate holding company and affiliate of Picasso Lighting, has completed the acquisition of the building at a cost of $3.6 million.

Picasso Lighting actually moved into the building last year, leasing it with an option to buy. The sale was completed with the help of a low-cost loan from the state. The seller was a local partnership

“With four different buildings in Brooklyn, it was a nightmare,” says Jose Espinosa, who co-founded the company 10 years ago with Sol Shem-tov. His company is a manufacturer and wholesaler of crystal chandeliers and upscale lighting systems.