Bussel Realty Corp. Market Research Report

Background

Established in 1984, Bussel Realty Corp. (BRC) has evolved into one of New Jersey's largest independent industrial real estate services firms. With a dedicated team of over 20 brokers, BRC specializes in industrial and retail real estate services, including leasing and sales brokerage. The firm's clientele encompasses Fortune 500 companies, as well as numerous manufacturing, distribution, retail, and service organizations both nationally and locally. Currently, BRC manages over three million square feet of corporate and industrial real estate in New Jersey.

Key Strategic Focus

BRC's strategic focus centers on providing comprehensive industrial and retail real estate services in Central New Jersey. The firm offers leasing and sales brokerage services to a diverse clientele, including users, corporate occupiers, landlords, owners, and investors. BRC's specialization in industrial properties has positioned it as a leader in representing industrial real estate properties for sale in Central New Jersey. In the first quarter of 2025, BRC led the market with over 25 transactions ranging from 1,500 to 150,000 square feet.

Financials and Funding

BRC's estimated annual revenue is approximately $4 million, with an estimated revenue per employee of $120,000. The firm employs around 33 individuals, reflecting a 3% growth in employee count over the past year.

Pipeline Development

BRC has been actively involved in significant transactions, including:

4 American Way, Spotswood, NJ: An 80,000-square-foot industrial property sold for $9.2 million.

601 Lehigh Avenue, Union, NJ: A 160,000-square-foot industrial building leased to Eastern Coach Company, LLC.

218-224 11th Avenue, Roselle, NJ: Two industrial properties totaling 20,000 square feet sold for $2 million.

These transactions underscore BRC's active role in the industrial real estate market.

Technological Platform and Innovation

BRC maintains a proprietary Industrial Real Estate Database, developed shortly after the company's inception. This database provides comprehensive data on properties entering or exiting the market, as well as current lease rates and sales prices. The firm also utilizes technologies such as Google Analytics, Microsoft ASP.NET, and jQuery UI to enhance its real estate services.

Leadership Team

Steve Bussel, SIOR: Founder and President. Established BRC in 1984 and has guided its growth into a leading industrial real estate services firm.

Gregory Irving, SIOR: Executive Vice President and Partner. Joined BRC in 1989 and has been instrumental in managing the firm's operations.

David Blitt: Senior Vice President and Partner. Also joined in 1989, contributing significantly to BRC's culture and operations.

Chandler Vanderbeek: Vice President of Retail. Joined BRC to spearhead the retail brokerage division, bringing experience from Jeffery Realty.

Connor Vanderbeek: Vice President of Retail. Also joined from Jeffery Realty to lead the retail division alongside Chandler.

Leadership Changes

In September 2021, BRC launched a new retail brokerage division, appointing Chandler and Connor Vanderbeek as Vice Presidents to lead the practice. Both brought experience from Jeffery Realty, enhancing BRC's capabilities in the retail market.

Competitor Profile

Market Insights and Dynamics

The industrial real estate market in Central New Jersey is characterized by high demand and low vacancy rates, driven by factors such as e-commerce growth and proximity to major transportation hubs. BRC's active involvement in significant transactions reflects its strong position in this competitive landscape.

Competitor Analysis

BRC competes with several prominent real estate firms, including:

NAI Global: A leading global commercial real estate brokerage firm.

Newmark: Provides a full range of real estate services worldwide.

Avison Young: Offers commercial real estate services globally.

Transwestern: A privately held real estate firm providing agency leasing, tenant advisory, capital markets, and other services.

Colliers: A global real estate services and investment management company.

JLL: A professional services firm specializing in real estate and investment management.

Marcus & Millichap: Specializes in real estate investment sales, financing, research, and advisory services.

Cushman & Wakefield: A global real estate services firm.

These competitors offer a range of services and have significant market presence, making the industrial real estate sector highly competitive.

Strategic Collaborations and Partnerships

BRC has engaged in strategic collaborations to enhance its market position. For instance, the firm represented both buyers and sellers in significant transactions, such as the sale of 4 American Way in Spotswood and the lease of 601 Lehigh Avenue in Union. These collaborations demonstrate BRC's ability to facilitate complex deals and maintain strong relationships within the industry.

Operational Insights

BRC's strategic considerations include maintaining a strong presence in Central New Jersey's industrial real estate market, leveraging its proprietary database for market intelligence, and expanding into the retail sector through the establishment of a dedicated retail brokerage division. These initiatives position BRC to effectively compete with larger, global firms by offering specialized, localized services.

Strategic Opportunities and Future Directions

Looking ahead, BRC aims to capitalize on the growing demand for industrial and retail real estate in New Jersey. The firm's expansion into the retail sector, coupled with its established industrial real estate services, positions it to offer comprehensive solutions to a diverse clientele. Continued investment in technology and data analytics will further enhance BRC's ability to provide market insights and value-added services.