Joseph R. Ridolfi & Associates, LLC, Mercer County’s Premier Commercial Realtor, specializes in the sale and leasing of commercial, industrial, office, and retail space, as well as restaurants, investment properties, land subdivisions, and consulting services.
“Of course the economy affects the commercial real estate market,” says Joseph Ridolfi, president and CEO of the Hamilton-area company, “but there are things people can and should be doing in this market.”
Landlords with all types of commercial properties –– office, retail, and industrial –– need to make sure that they are offering competitive prices and incentives to attract and keep long-term tenants. “Be flexible with terms,” he advises. “You may need to offer a shorter-term lease than you have in the past, or graduated pricing to help a new client in the early part of the lease.”
After 40 years in business in the Hamilton area, Ridolfi says that much of his business is repeat customers and referrals. “When people need help, they know who to call. They know they are getting a deep knowledge of the area,” he explains.
Healthcare is one industry that has stayed strong throughout the downturn, he mentions. His company is in the process of leasing a 64,000-square-foot office/retail complex in Mansfield Township, between Hamilton and Cherry Hill. A large medical care facility is the anchor for the complex, attracting other medical offices to the center, which is called Mansfield Square and is located on Route 206. The first of four 16,000-square-foot buildings is now complete and work is nearing completion on the second building.
“Hamilton continues to experience good growth in today’s uncertain economy,” Ridolfi said. “We’re 90,000 people and growing. There’s unprecedented access by interstate and state highways, as well as the turnpike. We’re home to two major regional shopping centers on Route 130, namely Hamilton Marketplace and The Shoppes at Hamilton, that’s creating value up and down Route 130. State Highway 33 is another major retail corridor that is experiencing good growth. Everyone wants to be in Hamilton Township because that’s where the action is.”
Ridolfi believes that the best investment today is still real estate. The 1031 exchange, in particular, is an excellent way to shelter capital gains when buying or selling commercial real estate properties, he adds. Mercer County’s proximity to major metropolitan areas also makes it an excellent place to invest. “For people in the major metropolitan areas of New York, North Jersey, and Philadelphia, Mercer County’s prices look great by comparison,” he says. “That fuels our local economy, creates a tax base, and boosts jobs. It’s good news for our area.”
Joseph R. Ridolfi & Associates, LLC. 1245 Whitehorse-Mercerville Road, Bldg. A, Suite 402, Hamilton. 609-581-4848. Fax: 609-581-5511. Ridolfi-associates.com, E-Mail: Ridolfi@ridolfi-associates.com.