Marking his first year at the helm of Fairfield-based Legacy Real Estate Developers, President Peter Feldman has steered the firm through an active period of acquisitions, repositioning, and value creation across the Northern New Jersey industrial market.
Partnering with Sal Frassetto of Saddleback Real Estate Developers and Commerce Park Investors, Legacy has completed several key acquisitions over the past year, targeting underutilized properties with a disciplined, no-retrading approach.
Notable transactions include:
126,108-square-foot former Casio headquarters in Dover, acquired in an all-cash deal in October 2025;
26,630-square-foot industrial property at 611 Union Boulevard in Totowa;
two industrial properties totaling 29,626 square feet in Moonachie; and
11,704-square-foot commercial building situated on 3.7 acres of industrial outdoor storage at 801 East Edgar Road in Linden.
Feldman attributes the firm’s momentum to thorough upfront underwriting, local market expertise, and a straightforward negotiation style that reassures sellers of Legacy’s capital strength and certainty of execution. The firm has also leveraged its entitlement capabilities—securing approvals in five consecutive board of adjustment appearances over a recent six- to seven-month window—to unlock property value through zoning and site plan variances rather than heavy construction alone.
“We want to work. We want to make money. We want to do deals,” Feldman said. “But we can also pass on them if they’re not right.”
As he enters his second year, Feldman plans to maintain the firm’s focus on Northern New Jersey’s resilient industrial sector, continuing to target value-add properties typically sized around 60,000 square feet and below.
