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Master Broker Hired For Fort Monmouth Redevelopment

"Refreshing and exciting," is how FMERA exec describes meetings with Cushman and Wakefield and Continental Realty, will broker sales and leases of the various properties.


On Wednesday redevelopers awarded a contract for a master broker to market the properties of  the former Fort Monmouth. Board members of the Fort Monmouth Economic Revitalization Authority (FMERA) voted to approve Cushman and Wakefield and Continental Realty as the primary brokers. The New York City based firm, Jones Lang and LaSalle, was chosen as the alternate firm in case of conflict of interest.

The board said that firms were chosen for their ability to market both residential and commercial properties. According to FMERA Executive Director Bruce Steadman, the staff from Cushman and Wakefield assigned to the project are local residents. Continental, Steadman said, is an Ohio based company chosen for its experience with large scale projects.

The contract dictates that the firms will receive no more than a six percent commission on sales and leases.

Caren Franzini, CEO of the state's Economic Development Authority, which oversees FMERA, said this award is the key which will allow the redevelopment to move forward. "It's a national broker who will bring national attention to the base."

Steadman, who along with his staff has been handling all the marketing of the property so far, said meeting with the representatives from the company was "refreshing and exciting."

In the past Steadman has told Patch that the master broker, which is required by the Army, is important because of its resources to reach a variety of vertical markets such as the high tech sector.

"There was an abundance of energy and passion," he said about the broker meetings. "We want to bottle it and take it with us on every sale call."

troy June 22, 2012 at 10:20 AM
Just follow the money. The firm was chosen for a reason that the public will never know
Shannon K. Winning June 22, 2012 at 10:35 AM
Troy if you have information to share, let us know. My email is sheiswinning@gmail.com
Lou @ The Shore June 22, 2012 at 02:39 PM
Could we please have more up to date and relevant photos. Burger King has been closed dpwn for a couple of years and the signs removed.

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