Richter Grusd Lists Major Investment Property in Downtown Cranford
Sperry Van Ness | Richter Grusd, a commercial real estate brokerage firm serving New Jersey, announced the listing of Cleveland Plaza located in downtown Cranford.

ISELIN, NJ, September 09, 2011 /24-7PressRelease/ -- Sperry Van Ness | Richter Grusd, a commercial real estate brokerage firm serving New Jersey, announced the listing of Cleveland Plaza located in downtown Cranford at 123 North Union Avenue, Cranford, New Jersey. The 37,847 square foot, multi-tenanted office/retail investment property is 95% leased with a stable mix of tenants and is being sold for $6,425,000.

"This is a rare opportunity for an investor to own a major two-building commercial asset in downtown Cranford just two blocks from the train station," says Ian Grusd, Managing Director of the Metropark based organization. "This is the first time the property has been available in over 30 years and the motivated owners are selling since they are heading into retirement."

In addition to running the length of the entire city block, Cleveland Plaza is located just two blocks away from the Cranford train station. The property has its own 115-car parking lot, a unique feature to the downtown area with mostly municipal parking and metered streets. Office tenants include medical, attorneys and insurance agencies plus several local retailers in a separate neighborhood strip on the same site.

Richter Grusd also recently listed two other Union County properties for sale:

• 191 Glen Road, Mountainside - An 11,685 square foot office/flex investment property which fronts Route 22, listed for $1,950,000.
• 11 Diamond Road, Springfield - A 42,280 square foot industrial/flex building just off Route 22 featuring 20,000 square feet of office and heavy power, listed for $3,350,000.

The announcement comes after Richter Grusd listed $10 million of industrial properties in July and the closing of several industrial sales in the state, indicating a positive trend in industrial/flex user activity.

Managing Directors Doug Richter and Ian Grusd were both named Top 20 Advisors in the country by Sperry Van Ness International (SVNI) out more than 800 advisors nationwide this year. 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 their $35 million of inventory for sale 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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