Key Properties Company Profile

Background

Overview

Key Properties is a third-generation, family-owned and operated real estate development, construction, and management firm headquartered in Teaneck, New Jersey. Established in 1970, the company specializes in transforming underutilized properties into valuable real estate assets, with a particular expertise in Brownfields redevelopment and condemnation proceedings.

Mission and Vision

The company's mission is to identify and capitalize on value-added opportunities across various commercial property types, including office, industrial, retail, and multifamily developments. Their vision emphasizes proactive, hands-on management and collaboration with municipalities, state agencies, contractors, engineers, architects, and brokers to revitalize properties and contribute positively to the community.

Industry Significance

With over five decades of experience, Key Properties has established itself as a significant player in the real estate sector, particularly in the New Jersey market. Their focus on Brownfields redevelopment positions them as experts in environmental remediation and complex property transactions, addressing both economic and environmental challenges.

Key Strategic Focus

Core Objectives

Value-Added Investments: Focus on properties with potential for improvement and increased value through redevelopment and strategic management.

Brownfields Redevelopment: Specialize in transforming environmentally challenged sites into productive real estate assets.

Community Collaboration: Work closely with local municipalities and agencies to ensure developments meet community needs and standards.

Areas of Specialization

Commercial Real Estate: Engage in the development and management of office, industrial, retail, and mixed-use properties.

Environmental Remediation: Expertise in addressing environmental concerns associated with Brownfields sites.

Property Management: Offer comprehensive management services to ensure optimal performance and tenant satisfaction.

Key Technologies Utilized

Environmental Assessment Tools: Employ advanced technologies for site analysis and remediation planning.

Project Management Software: Utilize software solutions for efficient project tracking and resource allocation.

Sustainable Building Practices: Incorporate green building technologies and sustainable practices in development projects.

Primary Markets Targeted

New Jersey: Focus on properties within the state, leveraging local market knowledge and relationships.

Northeastern United States: Expand into neighboring states with similar redevelopment opportunities.

Financials and Funding

Funding History

Specific details regarding Key Properties' funding history, total funds raised, and recent funding rounds are not publicly disclosed. As a privately held, family-owned business, financial information is typically kept confidential.

Notable Investors

Information about individual investors or investment partners is not publicly available.

Utilization of Capital

Capital is primarily allocated towards property acquisition, environmental remediation, development costs, and community engagement initiatives.

Pipeline Development

Key Projects

Hanover Crossroads, Cedar Knolls: Redeveloped a former Berlex Laboratories site into a 107,000-square-foot shopping center, now 100% leased to national tenants.

200 Route 17, Maywood: Seeking approval for a 150,000-square-foot self-storage facility on a former Sears Service Center site.

270 Market Street, Saddle Brook: Acquired a long-term land lease and fee position for an 80,000-square-foot building, available for lease in August 2018.

Stages of Development

Projects range from initial planning and approvals to active construction and leasing phases.

Target Conditions

Focus on underutilized, environmentally challenged sites with potential for redevelopment and value addition.

Anticipated Milestones

Hanover Crossroads: Completed redevelopment and achieved full occupancy.

200 Route 17: Awaiting approval for development; timeline dependent on regulatory processes.

270 Market Street: Scheduled for availability in August 2018; leasing efforts ongoing.

Technological Platform and Innovation

Proprietary Technologies

Environmental Remediation Techniques: Develop and implement proprietary methods for site cleanup and redevelopment.

Significant Scientific Methods

Site Assessment Protocols: Utilize comprehensive environmental assessment protocols to evaluate and address site-specific challenges.

Sustainable Design Practices: Incorporate sustainable design principles to enhance energy efficiency and environmental responsibility.

AI-Driven Capabilities

While specific AI applications are not detailed, the company may explore AI for project management, market analysis, and operational optimization.

Leadership Team

Executive Profiles

Marc Schlussel: Co-Managing Partner with experience in real estate development and a proactive management style.

David Schlussel: Co-Managing Partner with expertise in real estate development and a hands-on approach to management.

Jonathan Schlussel: Leadership role within the company; specific details not publicly disclosed.

Adam Schlussel: Leadership role within the company; specific details not publicly disclosed.

Key Contributions

The Schlussel family has been instrumental in the company's growth, focusing on value-added investments and successful redevelopment projects.

Competitor Profile

Market Insights and Dynamics

The real estate development sector, particularly in New Jersey, is competitive, with numerous firms specializing in redevelopment and property management. Key Properties differentiates itself through its focus on Brownfields redevelopment and its long-standing family ownership, which fosters stability and long-term relationships.

Competitor Analysis

Kerry Properties: Operates in Hong Kong and Mainland China, focusing on residential and commercial developments.

Key Real Estate Company: A vertically integrated firm based in New Orleans, specializing in multifamily units and development projects.

Key Property Services: Focuses on single-family homes in the Southeastern United States, offering acquisition, renovation, and management services.

Strategic Collaborations and Partnerships

Key Properties collaborates with municipalities, state agencies, contractors, engineers, architects, and brokers to ensure successful project execution and community integration.

Operational Insights

The company's expertise in navigating complex redevelopment projects, particularly those involving environmental remediation, provides a competitive edge in transforming challenging sites into valuable assets.

Strategic Opportunities and Future Directions

Strategic Roadmap

Expansion into New Markets: Explore redevelopment opportunities in neighboring states with similar market dynamics.

Sustainability Initiatives: Increase focus on sustainable development practices to meet growing environmental standards and market demand.

Technological Integration: Adopt advanced technologies for project management, environmental assessment, and operational efficiency.

Future Business Directions

Continue to leverage expertise in Brownfields redevelopment to address environmental challenges while creating profitable real estate assets.

Opportunities for Expansion

Identify and acquire additional underutilized properties suitable for redevelopment, particularly in urban areas with high demand for revitalized spaces.

Positioning for Future Objectives

The company's long-standing presence and expertise position it well to capitalize on emerging market trends and continue its legacy of successful real estate transformations.