Richter Grusd Closes $3.5 Million Industrial Building Sale
Commercial real estate firm Sperry Van Ness | Richter Grusd is announcing the closing of a $3.5 Million industrial building sale.

ISELIN, NJ, June 09, 2011 /24-7PressRelease/ -- Sperry Van Ness | Richter Grusd, a commercial real estate brokerage firm serving New Jersey, announced the sale of an 80,000 square foot industrial building at 192 Summerhill Road, Spotswood, NJ for $3.5 million. The Buyer, Dart Seasonal Products, was represented by advisor Iris Borger and Managing Directors Doug Richter and Ian Grusd.

"Between the Buyer's requirement for rail service and the complexities of today's financing climate, this assignment had its challenges," explains Richter. "Acting as a real estate advisor in today's market is akin to bucking a bronco at the rodeo - you have to hold on tight."

Founded in 1993, Dart Seasonal Products is a premier producer of snow and ice removal products. The expansion of their product line and resulting increased business led to their decision for relocation. The Seller, Greif (NYSE: GEF, GEF.B), was represented by Kyle Eaton and Tom Kirczow of Grubb & Ellis.

Managing Directors Doug Richter and Ian Grusd were both recently named Top 20 Advisors in the US by Sperry Van Ness International (SVNI) out more than 800 advisors nationwide. Additionally, a 2011 survey from The Lipsey Company reports that the organization was named as the 10th most recognized brand in commercial real estate.

For more information about this property or Sperry Van Ness' commercial real estate advisory services, contact Doug Richter or Ian Grusd at (732) 906-0505 or visit www.svn-rg.com.

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