By Joshua Burd
The Blau & Berg Co. has secured a new 5,800-square-foot space in Morristown on behalf of a physical therapy company, while also helping the operator source a small business loan.
The brokerage firm announced that Scott G. Savastano, its director of capital markets, represented Camisa Physical Therapy and Sports Rehab in finding the new location at 1 Evergreen Place. The space previously housed a personal training gym, Blau & Berg said, noting that its client purchased that business, assumed the remaining six months of lease term and created a new physical therapy facility inside the unit.
Meantime, Savastano helped the business secure a U.S. Small Business Administration loan, which was provided by Merrill Lynch and Regional Business Assistance Corp. The client will use the proceeds to acquire modern equipment and modalities, as well as cover supplies, rent and payroll while it awaits insurance, which can take between 60 and 120 days.
Of the new location, Blau & Berg noted that the space has abundant parking, high ceilings and men’s and women’s locker rooms with showers.