SOMERSET, NJ–NAI DiLeo-Bram & Co. has negotiated the acquisition of 150 Pierce Street, Somerset, NJ, on behalf of TL Management.
“This deal happened very quickly because our client was prepared to act.” says Eric Johnston, NAIDB principal. “It was 75 days from the day we listed the property to the day we closed.” Johnson continued. Two of NAIDB's senior industrial brokers, Chris Galiano and Rich Galuppo also worked on the transaction on behalf of the buyer and the seller, C-III Realty Services. The buyer plans to occupy approximately 50,000 square feet and has retained NAIDB as exclusive listing agent to lease the remaining 80,000 square feet in the building.
150 Pierce Street is in the heart of Somerset and contains office, lab, warehouse and manufacturing space, making it appealing to a wide range of tenants. The building occupies more than 17 acres and is in walking distance of restaurants, banking and hotels.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
