Each year, Florham Realty Management, LLC studies dozens of available sites throughout New Jersey, Pennsylvania, and Arizona. We explore potential sites for acquisition based on several criteria including:
When it comes to site selection and development, Florham Realty ensures a successful outcome by carefully orchestrating every step of the project. We begin the process with an intensive spreadsheet and underwriting evaluation of current and predicted performance. These measures are reflected in detailed abstracts of lease terms and cash flow reports. Once we choose a site for build out and development, we work with architects, designers, engineers, contractors, utility authorities, insurance providers, state and municipal offices, planning and zoning boards, and lawyers and property brokers to bring the project to fruition. If a potential acquisition is already an active retail center, we will perform a comprehensive due diligence study which can last anywhere from 30 to 60 days, depending on size and value/asking price of the site. This will include but not be limited to tenant profiles and income performance, as well as a thorough examination of covenants, conditions, restrictions, and related environmental reports.
Unlike many other companies in our industry, we only manage properties that we own or are invested in. What that means for our investors is that they can rest assured that we have performed an extensive due diligence on any prospective property prior to acquisition. We know that the value of our properties reflects the success of our tenants, so we have a vested interest in purchasing only high performing properties in areas showing current success and future growth. Our effective marketing strategies and sound financial management attract and secure qualified tenants that will enhance the value of our properties. We employ aggressive leasing and hands-on property and maintenance management to ensure the property’s long-term prosperity.
Interested in our investment opportunities? We’d love to talk with you about our past successes and future dreams!