GLEN ROCK, NJ-The Goldstein Group, primarily a retail brokerage firm, is venturing deeper into the development and investment business with the formation of two new divisions. For one, Goldstein Development Co. will develop retail and residential properties, as well as acquire properties and create joint ventures, "utilizing a value-added approach," says Alan Goldstein, co-founder and president of the parent company. And the new Goldstein Equities will manage commercial and mixed-use investment projects.
Goldstein Development is up and running with a couple of projects, including a retail property on Route 17 in Lodi anchored by Home Depot and National Wholesale Liquidators. The company is also starting work on a 15,000-sf building, the final phase of a 150,000-sf urban redevelopment shopping center in Newark, anchored by Home Depot, Applebee's and Wendy's.
And Goldstein Equities is currently working with clients to invest in a couple of projects, including a 180,000-sf Pathmark-anchored shopping center in Eatontown. Another early effort for the group is a 150,000-sf Levitz- and Babies R Us-anchored property in Paramus, NJ. "Our new divisions are a natural progression of our services," Goldstein says.
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