Project Objective

ND Brick was acquired to serve a dual purpose—providing a strategic facility for Sheer Service’s expansion into the Northeast market while securing a high-return real estate investment. Sheer Service, an affiliated business of Rich Global, required a physical presence in New Jersey to support its continued growth beyond South Florida. Before purchasing ND Brick, Sheer Service initially leased other properties in the Northeast market to understand market dynamics. In the competitive 2021 market, securing a high-value asset at favorable financing terms was critical for long-term operational and investment success. Sheer Service is featured on our Rich Global Affiliated Businesses page—check it out to learn more about how this company plays a key role in our portfolio.

Project Solution

Rich Global initially leased a property that met Sheer Service’s operational needs while continuing to seek an ideal purchase opportunity. When the right asset became available, we acted decisively, acquiring the property for $650,000—a strong value given its size, location, and long-term potential.

  • Secured a sub-4% COVID-era loan, leveraging historically low interest rates to enhance long-term profitability.
  • Prime location directly off Garden Parkway, providing excellent accessibility and more than ample parking.
  • Originally a funeral home, which presented unique challenges due to restrictive deed conditions and zoning limitations. Rich Global navigated these complexities effectively to reposition the property for commercial use.
  • Leased to Sheer Service at fair market value rent, ensuring both a stable tenant and strong financial returns.

A full interior remodel was completed, fully funded by the tenant, Sheer Service, optimizing the space for operational efficiency:

  • New office layouts tailored to Sheer Service’s needs.
  • Conference rooms and meeting areas to support business growth.
  • Upgraded restrooms and interior finishes, modernizing the space for professional use.

Project Results

  • Acquisition Price: $650,000.
  • Favorable COVID-era loan secured at sub-4% interest, significantly enhancing cash flow.
  • Lease Structure:
    • Sheer Service as tenant at fair market value rent.
    • 3-month rent abatement to accommodate transition and improvements.
  • Current Cap Rate: 15.23%, delivering exceptional returns while solving a critical business expansion need.

Long-Term Strategy & Exit Plan

ND Brick is a prime example of Rich Global’s ability to unlock value by strategically acquiring and repositioning assets. This investment benefits from:

  • A premium location with strong long-term appreciation potential.
  • Creative use conversion, transforming a highly specialized property into a functional commercial space.
  • Dual-value approach—solving an operational need while maximizing financial returns.
  • Stable cash flow with strong return metrics (15.23% Cap Rate).

While this property currently serves a critical role for Sheer Service’s expansion, it remains a high-value asset with strong long-term growth potential for Rich Global. Whether retained as a cash-flowing investment or repositioned for an opportunistic exit, ND Brick reinforces Rich Global’s expertise in strategic acquisitions, adaptive reuse, and high-return real estate investments.

ND Brick exemplifies Rich Global’s ability to capitalize on unique market opportunities, leveraging creative structuring, optimal financing, and strategic tenant alignment to create superior investment returns. This case study showcases how Rich Global finds value where others see obstacles, transforming complex assets into high-yield investments while simultaneously fueling business growth and expansion.