55 Broad Street in Red Bank, the first acquisition under a new fund by Saxum Real Estate — Courtesy: Saxum Real Estate
By Joshua Burd
As it makes acquisitions in key downtowns around New Jersey, a growing development and investment firm has added a director to oversee leasing and management of its portfolio.
The firm, Saxum Real Estate, said it has hired former Cushman & Wakefield broker Kelsey L. Nakamura as director of leasing and asset management. She will be based in the company’s Parsippany headquarters and will focus on the leasing, asset management and marketing of Saxum’s portfolio.
The move comes about three months after the launch of Saxum’s first investment vehicle, the Saxum Adamas Fund I LP. The three-year-old firm has since acquired downtown, transit-centric properties in Red Bank, New Brunswick and Madison, as it looks to continue the growth of its portfolio.
“Coming from a leasing background, I have seen an increasing number of users looking to relocate to affluent, transit-oriented downtowns,” Nakamura said. “Most of them are ultimately forced to choose between either quality or location due to the limited supply of Class A space in these much-desired markets.
“Saxum has found a niche and is developing the product tenants demand. I am excited to be a part of the Saxum team and help create the next wave of ‘Sub-Urban’ commercial real estate.”
Prior to joining Saxum, Nakamura was a director at Cushman & Wakefield, where she specialized in office brokerage, according to a news release. She completed more than 2 million square feet of transactions on behalf of landlords and tenants during her tenure at C&W.
“Kelsey’s extensive experience over the last five years has enabled her to develop a strong pulse on the market and a crucial understanding of the needs of today’s users,” said Anthony Rinaldi, managing principal with Saxum. “The unique perspective Kelsey brings to leasing, marketing and asset management embodies the forward thinking and entrepreneurial spirit that makes up Saxum.”
Saxum launched its fund late last year, with a goal of deploying $75 million to acquire value-add properties in transit-oriented downtowns. Last month, the firm announced acquisitions of a retail and office building in New Brunswick and a movie theater property in Madison, both within walking distance of nearby train stations.
The latest addition to its team has been recognized as a top producer in her peer group and received multiple industry recognitions. Most recently, NAIOP New Jersey recognized Nakamura as 2016’s Rising Star, while she received a CoStar Power Broker award in 2013 and 2015.
She also served on the team presented with United Way of Northern New Jersey’s 2014 Commercial Real Estate Impact Award, the news release said. In 2015, she was the top producing associate vice president in the tri-state region for Cushman & Wakefield.