FRANKLIN TOWNSHIP, NJ—Denholtz Associates has acquired 655 Howard Avenue in Franklin, NJ, the 74,325 -square-foot former manufacturing home of Acme Tube. The building was in foreclosure, and has been vacant for a number of years. Denholtz has acquired the building after developing a plan for environmental remediation and renovation.

Based on its extensive knowledge of the Somerset industrial market and in-house capabilities to enter into a creative agreement with the note-holder, BRE2, a subsidiary of Beal Bank, Denholtz committed to conducting the remedial investigation of the land and agreed to acquire the property following an extensive 18-month assessment of the scope of the environmental issues facing the site.

“We have begun the renovation of the interior and exterior,” Steven Denholtz, CEO of Denholtz Associates, tells GlobeSt.com exclusively. “When complete, this former manufacturing facility will function as a Class A warehouse/distribution and light manufacturing building. Our renovations include exterior paint, new glass, new roof and metal as well as a new 1600-amp, 3-phase electric, a new energy efficient T-5 lighting system and new unit heaters throughout the warehouse. We are installing new landscaping and fencing as well. We are also creating 10,000 square feet of office space for what will be a prime one-or-two tenant property in a very strong submarket with little vacancy.”