Fennelly Associates and Keyser, a nationally recognized, full-service commercial real estate brokerage firm based in Scottsdale, Arizona, announced they have negotiated the sale of a 9,772-square-foot office building at 2291 Route 33 in Hamilton for $2.3 million.
Fennelly Associates and Keyser represented the buyer, DMI, in the transaction.
Established in 1957 in Melville, New York, DMI is the longest-running, continuously operating cooperative warehouse group in the U.S. The company specializes in the purchase of home electronics and appliances at wholesale prices directly from vendors and makes them available to its independent appliance dealer members. Its buying strategy allows DMI’s members to compete with big-box stores.
Amidst significant growth, the company recognized that its existing warehouse space was ill-suited to its needs both in function and size. The firm initially contacted Keyser to secure a new warehouse space that would allow for efficient cross-docking and storage capabilities.
Earlier in 2023, the company negotiated a lease for a brand-new 845,078-square-foot warehouse located at 1365 Lamberton Road in Trenton. However, its growth also necessitated a new office. Keyser, leveraging the Society of Industrial and Office Realtors network, contacted Jerry Fennelly, president of Fennelly Associates, to help DMI secure an office space for the company. Fennelly was able to identify 2291 Route 33 in nearby Hamilton as the ideal location for DMI’s offices.
“The national reach of the SIOR network ensures companies can find a trusted, experienced broker to help them meet their space needs in any market and asset class,” Fennelly said. “We were happy to work with Keyser to provide DMI with an ideal office space to accompany their brand-new warehouse. We look forward to the next opportunity to work closely with our SIOR colleagues to help a client achieve its goals.”