Blue Asset Management LLC Weathers Floods in Northern New Jersey
According to Charles Blumenkehl, managing partner of Blue Asset Management, "This has been a most unusual winter, bringing a dozen snowfalls and seemingly monsoonlike rain to the area.
by Straight Line Tuesday, May 03, 2011
Blumenkehl continued, "It is such a shame to see the investment we made in our property needing replacement so quickly. We have owned real estate in the area for more than twenty years, and I have never seen flooding come so close to each other in such a short period of time. Hopefully," said Blumenkehl, "we won’t have to experience anything like this for a long time, if ever again."
Blumenkehl added that while flood insurance will help to offset much of the damages incurred, it still adds to the companies already robust work list resultant from the many acquisitions his fund has made in the past months. Blumenkehl continued "Our crews and contractors are working six and seven days a week to catch up to the workload on our new acquisitions and complete the work we were unable to do because of the tough winter we experienced. This will add to the burden, and since it is a priority to repair the flood-damaged properties so our tenants can move back in quickly, we will see some of our other projects further delayed."
Blumenkehl was pleased that none of his tenants in the area suffered damages to their property since there was sufficient notice before the flooding took place. He has only received notice from one tenant that they do not intend to re-occupy their premises even if it is restored within the period provided for in the lease agreement.
Located in Wayne, New Jersey, Blue Asset Management LLC owns, manages and operates numerous rental properties throughout northern New Jersey. For more information about Blue Asset Management LLC, call the company directly at 973-835-1400 or log onto the company website at www.blueassetmanagementllc.com.
Blue Asset Management LLC
2282 Hamburg Tpke
Wayne, NJ 07470
Tel:(973) 835-1400 ext. 103
Fax (973) 835-08105
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