WOODBRIDGE, N.J. (January 2, 2007) – Michael Bergman, President and CEO of Bergman Real Estate Group, is pleased to announce the expansion of its Acquisition Program into the retail property market in New Jersey. With an interest in acquiring, managing and leasing neighborhood strip centers and larger, anchored shopping center properties, Bergman is augmenting its core office Building portfolio of over 1.6 million square feet in an effort to diversify its business. “Over the past 19 years, we steadily built a top-notch management and leasing organization to operate our office properties. Acquiring and managing retail properties is a natural expansion for our firm,” explains Mr. Bergman.
Bergman Real Estate Group is no newcomer to the retail market. Jerome Bergman, Chairman and founder of the company, managed and operated over 2 million square feet of retail properties located in eight states throughout the Northeast and Midwest in the 1970’s and 80’s. Although the company’s primary focus has been the acquisition and management of suburban office buildings in New Jersey, Bergman believes the time is right to diversify its holdings into the retail sector as the firm embarks on its 20th year in business.
“While we appreciate the competitiveness of both the office and retail property markets in New Jersey, the time is right to diversify our business in a variety of directions, one of which is into the highly developed strip center market in New Jersey” comments Michael Bergman. “Consumer spending, while cyclical, continues to drive the need for active retail businesses in our densely populated state. We believe there is still room for growth and selective development of the retail properties throughout New Jersey.”
Spearheading the new effort will be Jesse Cohen, former franchise owner of Stratis Business Centers, an Executive Suite Company affiliated with The Regus Group, PLC in the UK. Mr. Cohen will be a consultant to Bergman and will work directly with Michael DiFede, Director of Acquisitions at Bergman Real Estate Group. Mr. DiFede has been instrumental in expanding the firms’ office property holdings over the past six years. “We have developed excellent relationships with our financial partners in office building acquisitions, and these partners are keen to expand and diversify. It’s our job to find them product in the retail market”, says DiFede.
Bergman Real Estate Group is a privately owned family business, located in Iselin, New Jersey, that has earned a solid reputation as a leader in the acquisition, ownership, management, leasing, and financing of commercial office properties throughout the New Jersey marketplace. Since its formation in 1988 by Jerome Bergman, and sons Steven and Michael, the company has successfully acquired over 26 commercial properties with a combined market value in excess of $300 million. Bergman’s current New Jersey office portfolio consists 12 properties comprising over 1.3 million square feet plus another 300,000 square feet it manages third party for pension fund investment advisors.
Bergman Real Estate Group is located at 555 Route 1 South, Iselin, New Jersey 08830. For more information about the company or any of its properties, call Michael DiFede (ext 108) or Jesse Cohen (ext 116) at (732) 855-8600 or go to its web site at www.BergmanRealty.com