NAI Fennelly negotiated the sale of 15,000 square feet of industrial space at 5 Nami Lane in Hamilton to Synergy Global Properties, according to a Wednesday announcement from the brokerage.
NAI Fennelly’s Jerry Fennelly and Matt Fennelly represented the seller, Americo II. Peter Shikar of CBRE represented the buyer in the sale.
Synergy Global Properties is owned by Mangesh Chinthamaneni, a former information technology entrepreneur turned restaurateur who entered the hospitality business with the opening of an Indian restaurant and lounge, Samudhra, in Franklin Park in 2019. Inspired by his love for fresh, all-natural ingredients, Chinthamaneni envisions spreading the Indian food culture globally by opening more locations across the U.S., Canada, London, Dubai and India in the coming years.
Chinthamaneni plans to use the asset to open a commissary to expand his concept to offer catering services throughout central New Jersey.
5 Nami Lane is a single-story, 27,000-square-foot industrial building with 14-foot ceilings and a strategic location off Quakerbridge Road with access to Interstate 295 and Route 1.
The sale culminates NAI Fennelly’s efforts to help its longtime client, Robert Nami, dispose of excess real estate as he plans his retirement. Recognizing the strong demand from dining operators looking to expand into the catering business and the flexibility of 5 Nami Lane, the NAI Fennelly team worked closely with Chinthamaneni to negotiate the sale and help its client realize his business goals.
“While large sales tend to dominate the headlines when it comes to industrial real estate in New Jersey, much of the market’s sales velocity continues to be driven by small businesses like Samudhra that are looking to expand their operations,” said Jerry Fennelly. “We were happy to be able to negotiate this sale with their team and help them find the ideal space to grow their business in central New Jersey.”