Page 36 - RE-NJ

Professional Spotlight
NAI DILEO-BRAM & CO. (NAIDB)
OUR EXPERTISE
NAIDB, a proud member
of NAI Global, provides
comprehensive commercial
real estate solutions with
specialization in:
• Industrial
• Office
• Retail
• Multifamily
• Land investments
OUR CLIENTS
NAIDB’s broker specialists leverage
deep-sector expertise to deliver innova-
tive solutions for a diverse clientele that
includes private and institutional owners,
investors, occupiers and developers.
TRANSACTION
SPOTLIGHT
The multiphase representation at 651 N.
Michigan Ave. in Kenilworth underscores
the power of exceptional market
knowledge and internal synergy at NAI
DiLeo-Bram & Co. (NAIDB). The firm
shepherded this Class A industrial asset
from site acquisition and redevelopment
to marketing for lease and, ultimately,
the successful procurement of an off-
market disposition.
The Vision: Development and
Transformation
The strategy began when NAIDB’s
father-daughter broker team, Richard
Goski and Catherine Goski-Vasquez
At 651 N. Michigan Ave., Kenilworth, NJ, NAIDB facilitated a transaction that completed the asset’s full evolution: from
redevelopment to an owner-occupied asset, to a value-add investment opportunity.
(Team Goski), arranged the land sale to
Magni America. Magni razed a legacy
structure to build a 26,500-square-
foot, state-of-the-art warehouse and
office facility. Completed in 2024,
the building was engineered for the
modern industrial user, featuring high-
end finishes and a layout optimized
for maintenance- and service-oriented
operations.
The Pivot: Capitalizing on Demand
Magni recognized intense submarket
demand for premium inventory and
elected to utilize other owned sites for
its equipment storage. This prompted a
pivot from an owner-occupant strategy
to a plan focused on leasing a portion of
the Class A property.
To execute this vision, Magni re-engaged
Team Goski. During the marketing
phase, demand for this type of Class A
property attracted several off-market
sale inquires. As a result, NAIDB vice
presidents Kyle Gerace and Christopher
Chiusolo generated an offer from a
buyer expanding its regional logistics
and low-coverage industrial portfolio.
NAIDB facilitated a transaction that
completed the asset’s full evolution: from
redevelopment to an owner-occupied
asset, to a value-add investment
opportunity.
The Strategic Edge
The property’s appeal is rooted in
its “last-mile” profile. Situated on
2.02 acres just off Route 22, the site
provides immediate access to I-78, the
New Jersey Turnpike, Route 21 and
Routes 1&9. This logistical advantage
places users within 15 minutes of Port
Newark-Elizabeth and Newark Liberty
International Airport. With a clear vision
for the site and deep local expertise,
the NAIDB team helped guide the
transformation of 651 N. Michigan Ave.
into a highly desirable low-coverage
industrial asset.
ON THE HORIZON
The New Jersey commercial real
estate landscape is increasingly
defined by strategic niches. NAIDB
meets these shifts by leaning into
its greatest asset — its brokerage
team members — whose active
presence ensures a firsthand
understanding of ever-evolving
market conditions.
On the industrial front, momentum
continues for midsized buildings
and land contracts as users
prioritize functional footprints.
While the office sector faces
broader challenges, a specialized
niche persists; high-quality assets
in premier locations are attracting
a steady volume of stable
tenants, including health care and
professional services. Similarly,
retail remains resilient, driven by
well-positioned centers serving as
essential community and wellness
hubs.
By maintaining a diversified
business model and a constant
pulse on the regional landscape,
NAIDB remains positioned to
capture growth opportunities across
every asset class.
90 Woodbridge Center Drive
Woodbridge, NJ 07095