Specifically, the new venture is looking for office, retail, flex and light industrial properties, with an emphasis on value-add opportunities. Targeted properties are in the $5-million to $35-million range.

And Gottesman has brought in Joel S. Brudner as EVP and partner in the new venture. Previously EVP and CFO of the PRC Group in West Long Branch, and prior to that an exec with the M. Alfieri Co. in Edison, Brudner will direct the group's operations. Rounding out the venture's executive team is CFO Anthony Angelosante, who had been with the Gottesman family-owned EIA and Edison Properties.

The Gottesman family has a 50-year commercial real estate history in New Jersey, New York and Pennsylvania, including ownership of the 750,000-sf Hippodrome Building at 1120 Ave. of the Americas in Manhattan. That history began when brothers Jerry and the late Harold Gottesman opened their first parking lot on Edison Place in Newark. The brothers substantially separated their business interests a decade ago, with the family of Jerry Gottesman continuing to own the Newark-based Edison Properties.