2291 Route 33 in Hamilton — Courtesy: Fennelly Associates
By Joshua Burd
A cooperative that serves independent appliance dealers has acquired a nearly 9,800-square-foot office building in Hamilton for $2.3 million, brokers with Fennelly Associates announced.
According to a news release, Fennelly partnered with Scottsdale, Arizona-based Keyser to broker the transaction at 2291 Route 33. They represented the buyer, DMI, noting that the cooperative warehouse group will use the space to support its growth.
The deal follows DMI’s recent lease for a new 845,078-square-foot industrial building at 1365 Lamberton Road in Trenton, which Keyser brokered on the company’s behalf. It then contacted Fennelly, leveraging the Society of Industrial and Office Realtors or SIOR network to secure the 9,772-square-foot office building in Hamilton.
“The national reach of the SIOR network ensures companies can find a trusted, experienced broker to help them meet their space needs in any market and asset class,” said Jerry Fennelly, president of Fennelly Associates. “We were happy to work with Keyser to provide DMI with an ideal office space to accompany their brand-new warehouse. We look forward to the next opportunity to work closely with our SIOR colleagues to help a client achieve its goals.”
Fennelly noted that DMI, which was established in 1957 in Melville, New York, is the longest-running, continuously operating cooperative warehouse group in the United States. The company specializes in the purchase of home electronics and appliances at wholesale prices directly from vendors and makes them available to its independent appliance dealer members, allowing them to compete with big-box stores.
