Choosing a Real Estate Brokerage firm is not easy.
Bussel Realty Corporation (BRC) offers the right combination of dedication, strong market knowledge, and substantial resources to provide clients with competitive products, exceptional customer service and local personalized support.
Through our over 40 years of experience selling and leasing
commercial real estate, we will provide you an opinion of
value, free of charge, and illustrate how we can maximize
the sale price of your property should you choose to sell.
Search our extensive database of property for sale or lease or call 732-287-3777 for professional assistance.
Bussel Realty Corp. (BRC), a leading industrial and retail real estate services firm in New Jersey, announced the successful completion of a 1031 exchange that culminated with the purchase of 3565 Martin Luther King Jr. Blvd, New Bern, NC by Central Avenue Corp for $18.2-million, following the disposition of their 211,000-square-foot industrial complex in Bridgewater, New Jersey, by BRC in late 2022.
More than 4.9 million square feet leased during the fourth quarter of 2022 in the Northern/Central NJ industrial market. Compared to the fourth quarter from a year ago, leasing activity increased approximately 2 million square feet. However, the overall average asking rent rose to approximately $14.00 to $18.00 per square foot, an increase of $2.00 per square foot over the same quarter last year. Availability/vacancy rate ticked upward to 2.2% in the fourth quarter of 2022, an increase of 0.2% from a year ago, despite millions of square feet of new construction coming online during the year. Over the past 12 months, the total overall sales volume exceeded $2 billion, with the average asking price at approximately $200 to $300 per square foot which is near historical highs for the New Jersey Marketplace.