NEW JERSEY - Blue Commercial Agency, a Division of Blue Realty GMAC Real Estate Services, brokered a 26 unit garden apartment complex in East Orange, New Jersey for just under 1.3 million dollars ($1,300,000). Charles Blumenkehl, President of Blue Realty, remarked that Blue Realty has been in business since 1983, and relies on its network of investors, sellers and company-owned offices to provide quality service and inventory opportunities to its Commercial clients.
"With real estate affordability diminished for many urban buyers and financing rates still low, demand for rentals may result in higher returns to investors, " according to Henning Holmgaard, director for Blue Commercial Agency. "We look forward to leveraging our statewide footprint and access to local knowledge and inventory to assist our clients".
The three story, fully occupied building features a modern brick exterior and individual off-street parking. The buyer, a local investor plans significant renovations to the apartments. East Orange is located off of Route 280 and, is within 30-minutes of all the region's major shopping and attractions and only 20 minutes from Manhattan.
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Blue Commercial Agency is a division of Blue Realty GMAC Real Estate Services, the largest independently owned brokerage in the New Jersey GMAC network. For more information about Blue Commercial Services, log onto www.bluecommercial.com or call the company at 888-890-4430. For more information about Blue Realty and its New Jersey office, log onto http://www.bluerealty.com
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