A Busy Summer Ahead in New Jersey 

Smaller industrial spaces (100 SF or less) were the centerpiece of a presentation by Michael Lachs, director of finance & investments for the STRO Companies.  He described their formula for giving a new “lease on life” to older warehouses in the northern New Jersey market.  Locate an older building that has been underutilized or poorly managed.  Buy low but fair.  Divide the interior into marketable spaces.  Provide maximum value with minimal physical upgrades (no costly renovations).  Develop strong leasing and marketing plans to attract the right buyers/lessors.  STRO must be doing something right – their portfolio has doubled in four years.