Groome Industrial Service Group Inc. on Tuesday announced it will be moving its corporate headquarters from Fairfield to a property assemblage at 305-307 Palmer Road, Denville, in a $3 million transaction announced by Charity Realty International.
Groome is a leading service-contracting company, providing specialized maintenance to the natural-gas power plant industry.
“The real estate we were looking for did not exist in the area of New Jersey we desired, we had to create it,” Jeffrey Bause, owner and president of Groome, said. “With the help of our broker, we assembled a 10,000-square-foot flex facility on three acres with industrial zoning that permits outside storage of equipment and material. This relocation will sustain us through our current and future planned expansion.”
James Costanzo, president of Charity Realty International, who exclusively represented the buyer, said: “Charity Realty had an existing relationship with the adjacent landowner, Joseph Esposito. We had sold the land to Mr. Esposito seven years earlier. He was not a motivated seller in 2023 because he had developmental plans for the property. It was our existing relationship and some creative transactional structuring by Groome’s legal team, led by David Gray, Esq., of Gray Law Group that sealed the deal.”
NAI James E. Hanson’s Joseph Vindigni exclusively represented the building owner at 305 Palmer, Venturini Investment Group. Esposito, who owned the adjacent two acres at 307 Palmer, was represented by his attorney, Joseph O’Neill of Garofalo, O’Neill & Ruggierio.
