Bergman Group closes lease with publisher.

Bergman Real Estate Group has leased 8,632 square feet of office space to People's Publishing Group at 299 Market Street in Saddle Brook, N.J. Glenn Dulmage of Coldwell Banker Commercial/Troast Realty Services was the broker who represented People's Publishing in this transaction.

"People's Publishing has been on a fast-track growth curve, and 299 Market Street was an ideal location for the company to expand its operations," says Mr. Dulmage, Managing Director of Coldwell Banker/Troast Realty Services. "Peoples needed a Building and a Landlord that could respond to its current, and future space needs, and Bergman Real Estate Group was very responsive and cooperative in accommodating these requirements," said Mr. Dulmage.

People's Publishing, a small national publisher of text books and multicultural academic books, sells its products nationwide and is celebrating its tenth anniversary. The company formerly occupied offices in Roosevelt Park and Maywood prior to coming to 299 Market Street. Bergman and its joint venture partner, Manhattan Management Company, acquired 299 Market Street in January 1999 as part of a 205,000 sq. ft. portfolio of three office buildings in Bergen County. The property consists, of a four-story, 80,000 square foot office building located directly opposite the Kessler Institute for Rehabilitation. This site is within one mile of 1-80, the Garden State Parkway. and Routes 17 and 46.

Since the acquisition, Bergman has made several improvements to the building, including the expansion and upgrades to the rear entrance lobby. According to Steve Bergman, vice president of Property Management for Bergman RE Group, "We are committed to making significant capital investments to the building, including new elevator controls, I-IVAC upgrades and common area improvements in order to enhance the level of services to our tenants." There is presently 30,000 square feet of office space available for lease, including a potential full floor of 21,000 square feet.

"Our company has doubled in size and needed larger space," says Micki Grunstein, Assistant Vice President of Marketing and Sales for People's Publishing. "Bergman has been very accommodating in making the space modifications we needed and providing the cabling and infrastructure needed to accommodate our computer networks. We've been very impressed with the responsive service and attention to our needs that Bergman has provided."

According to Grunstein, People's Publishing selected 299 Market Street after surveying their staff and finding that the site was close to employees, and central to the major highways such as the Garden State Parkway and 1-80. Other factors in their decision were proximity to services and area amenities such as restaurants, banks, shopping, and post offices.

"The experience of People's Publishing is typical of what we're finding in the commercial office market," says Michael Bergman, Vice President and Director of Leasing for Bergman RE Group.

"A lot of small to medium-sized companies have been bolstered by the strong economy and are rapidly outgrowing their existing space which is resulting in rising occupancy rates throughout New Jersey's commercial real estate market. We've found that our commitment to quality service and hands-on management expertise appeals to companies."

Growing companies require flexibility in space configurations and look for a close working relationship to the building's owners and managers. The critical factors in leasing commercial space are location, service, and image. At its Saddle Brook property and other buildings in its portfolio, Bergman is committed to meeting the needs of small to medium-sized companies by providing a level of service equal to that commanded by larger corporations.

Based in North Brunswick, Bergman Real Estate Group is a family-owned real estate firm that specializes in the acquisition, ownership, management, and leasing of commercial real estate for itself, it's investors and its joint venture partners. Since its formation in 1988, Bergman has successfully completed 20 separate acquisitions comprising IO garden apartment properties in Houston, Texas comprising 3,300 units, and in excess of one million square feet of office space. Bergman is actively pursuing office building acquisitions here in New Jersey where Bergman currently owns and manages eight office properties.