FRANKLIN TOWNSHIP, NJ—Denholtz Associates has flipped 655 Howard Avenue, a 75,000 square-foot industrial building in Franklin Township, Somerset County, NJ, for $6.68 million after acquiring the building out of foreclosure last May and renovating the property.
Zimmel Associates, an Edison, NJ-based corporate real estate services firm, brokered the sale for Denholtz, with Jordan Zimmel, vice president, representing the seller. The buyer, Bytech® International, an electronics accessories distributor, was represented by Chuck Fern of Cushman & Wakefield, Edison, NJ.
“This building has an exciting investment history and was recently renovated on a major scale,” says David Zimmel, CEO, Zimmel Associates. “This is the second sales transaction we have generated for 655 Howard Avenue in less than a year's time.”
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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].
