BG Davidson is the joint venture name for Bergman Real Estate Group of North Brunswick, NJ and Grand Realty Group of Summit, NJ. The latest deal is the second such transaction the two firms have chalked up in recent months.

Greg Silverstein, president of Grand Realty, and Jerome Bergman, president of the firm that bears his name, represented the partnership in the transaction, as well as in obtaining acquisition financing provided by GMAC commercial mortgage. Andrew Merin, David Bernhaut and Gary Gabriel of Cushman & Wakefield of New Jersey, East Rutherford, handled the sale on behalf of Lincoln Property Co. Bergman will manage and lease the asset.

Referring to the fact that the two companies have notched the second of what could by a series of ventures, Silverstein says that "our two firms share similar philosophies in underwriting, owning and operating commercial real estate." His own company, founded 15 years ago, operates as an investment company on behalf of private investors, and currently holds more than two million sf of space in a half-dozen states.

For Bergman Real Estate, it's the fifth acquisition in the last year. According to Bergman, "most of our acquisitions over the years have involved turning under-performing properties around. This property is fully leased and represents value that we can enhance over the long term."

The building, recently renovated, is home to 20 tenants, including Verizon Wireless, 3-Com, the Wackenhut Corp. and Pulte Homes. Altogether, Bergman's holdings include nearly two dozen apartment and office properties in New Jersey and Houston.First Industrial Leases 200,000 SF of Space in Two MonthsMONTVILLE, NJ-While the office market in New Jersey has leveled off and put some space back on the market, industrial properties continue to sizzle with leasing and sales activity.Eric PetersonMONTVILLE, NJ-Reflecting ongoing industrial activity in the Garden State, Chicago-based First Industrial Realty Trust, which has its New Jersey offices here, has signed a dozen industrial tenants to 200,000 sf worth of leases in the northern and central parts of the state. According to regional director Hayden Tiger, "excellent opportunities remain available within our portfolio."

Much of the space is wrapped up in Westvaco's leasing of just over 122,200 sf at 60 Chapin Rd. in the Montville Business Center, which currently has 140,000 sf still available. Tom Consiglio of Resource Realty was the broker.

In other leases, Hemophelia Resources of America leased 9,100 sf at Montville Business Center; Michael Melnick of Melnick & Associates was the broker. And Tristate Newspaper Services took nearly 6,700 sf at 150 Algonquin Parkway in Whippany, NJ.Other transactions, all smaller leases, included NCR Corp, Traxx International, GSI Automation and Pei-Ken Yi, all in the Montville Business Center. The rest included J&G Tile and Marble in Hamilton, Alltech Business Systems in Whippany, enfoTechnology & Consulting in Lawrenceville, and Airborne Labs and Punia & Marx, both in Somerset.

Instant Insights /

Partnership Buys 63,000-SF Office Building

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