Beginning in the 1960s, we have owned and managed over two million square feet of industrial, multifamily, and retail property across the Tri-State area.
We are privately capitalized and typically use modest amounts of leverage. Brentwood’s primary focus has been to acquire class “B” industrial/flex and develop for national retail tenants, including CVS, Advance Auto Parts, Starbucks, and Sherwin Williams. All buildings share similar qualities of basic functionality, infill locations, and acquisition prices below replacement cost. Our preference is to continue to acquire existing “Class B” industrial/flex buildings with a vacancy, leased buildings with a repositioning component, and ground-up development in all asset classes.
The Property Management division of Brentwood Realty provides true turnkey third-party management services for office, multi-family, industrial/flex, and retail properties.
Our mission is to maintain and enhance each client’s property aesthetics and operation in the most professional and cost-effective manner. We work to exceed all expectations while maintaining and improving upon daily property level operations and our client’s investment’s financial integrity.
The team will provide comprehensive reporting, professional advice, and cost-effective long-term solutions to improve decision-making while reducing the time and effort commitment put forth by our clients.
55 Passaic had been partially vacant for several years with a month to month tenant in half the building. The property was in a state of disrepair while an underlying environmental condition preoccupied its owner. Rather than focus on the quantifiable environmental issue, we saw an opportunity to acquire an undermanaged and under-leased property. Upon closing, Brentwood undertook renovations to the property, including a new roof and façade, repaved the parking lot, divided the building into three tenant spaces, and created new entrances and loading for the new units. The timeline from acquisition to stabilization was a year with annual cash on cash returns in the mid-teens since reaching full occupancy.
18-35 River Road comprised an antiquated multistory industrial building of 90,000 square feet on a 7 acre and irregularly shaped lot. The property had languished on the market for years with an undercapitalized owner and an underlying environmental issue. Brentwood recognized the location’s value and undertook a lengthy process to secure entitlements for 64 multifamily units and 20,000 square feet of retail. As a result of years of development experience, and relationships with national retailers, long term leases with CVS and Advance Auto were secured for the site.