CARTERET, NJ-In one of a batch of larger industrial deals made in the first quarter of 2013, Everflow Supplies acquired a vacant 100,000-square-foot facility here to use as its distribution headquarters.
Bussel Realty Corp. set up the buy from Wyckoff Associates, with Jordan Metz orchestrating the transaction.
“The property at 100 Middlesex Avenue was an ideal opportunity for Everflow's growing operations,” said Metz. The company distributes valves, heating components, plumbing and pipe products in New Jersey.
Metz said that when Everflow decided it needed to expand its operations and find a site that would allow further growth, it also made clear that it wished to remain close proximity to its existing customer, vendor, and employee base. The Cartaret facility has high ceilings, abundant loading docks, offices, parking, and an ideal excellent location at Exit 12 of the New Jersey Turnpike, near Port Newark, he said.
Everflow will also do some renovatingand upgrading of the property.
“We are excited to be moving into this well-located facility which will enable us to better serve our clients,” said David Templer of Everflow. He said Metz did an outstanding job of “frontloading” the transaction, completing the due diligence process prior to going to contract on the property.
“By doing this, we assured the seller we were a qualified buyer, which led to a clear path for us to close the deal, even in spite of several last minute bids by other parties,” said Templer. The City of Carteret also cooperate in speeding along the approvals.
Everflow is relocating from its facility at 2401 East Linden Avenue in Linden bringing existing employees and hiring several new workers.
Metz will market the 65,000 square feet of industrial space being vacated by Everflow in Linden. The building has 22-foot ceilings, nine loading docks, an oversized drive-in door, new lighting and HVAC, new roof and solar panels, and 3,000 square feet of newly-renovated office space.
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