A six-acre industrial park in Aberdeen has sold to an unnamed buyer from New York, according to a recent announcement from Bielat Santore & Co.
Located on Lloyd Road, the 36,750-square-foot, fully leased property was a challenge for Allenhurst-based Bielat Santore to market, as the Monmouth County firm’s expertise lies chiefly within the restaurant and hospitality industry.
“An attorney that we had conducted business with on hospitality-related real estate called following the closing of a transaction we worked on together in December and said, I want to refer a client of mine who wants to sell her property (through) you. I was all ears,” owner Richard Santore said.
“I had to think ‘out of the box’ and come up with a marketing strategy to attract a new set of buyers; those interested in industrial real estate and not hospitality real estate,” he added.
The company initiated a campaign to reach real estate investors within its in-house client database and outside regional investors and/or users of light industrial properties within the New Jersey/New York marketing place.
The campaign included telephone calls, email blasts, targeted mailings and internet postings. Within four weeks from the date of the signed listing agreement, Bielat Santore secured a signed contract of sale. Six weeks later, the deal closed for an undisclosed price.
“I was so happy to help the seller in this matter. Her husband, who owned and managed the park for years, died a couple of years ago and left the property and the management of it to his wife. She had no experience with real estate or the management of tenants. It was much too much for her to deal with on a daily basis.”
Bielat Santore & Co. specializes in the sale of restaurants and other food and beverage real estate businesses. Since 1978, the firm said, it has sold more restaurants and similar type properties in New Jersey than any other real estate company. It has also secured in excess of $500 million in financing to facilitate these transactions.
