Steven Millstein founded The STRO Companies (“STRO”) in 1994, with a vision to transform under-performing commercial real estate properties into top performers and to provide enhanced services to his real estate holdings. STRO’s formation coincided with a particularly delicate and unstable commercial real estate (CRE) market, enabling STRO to develop the unique ability to navigate and find success despite the challenging CRE market.
By 2000, STRO was managing and leasing 500,000 square feet of primarily industrial properties in Northern New Jersey. Millstein focused on infill locations within the industrial asset class due to the reliability of the cash flows and dependency for warehouse space for companies to store and distribute food, clothing, medical supplies, building materials and other necessities to serve the 20 million people residing within an hour’s drive from his buildings.
Building upon the steady growth, Millstein was well-situated to navigate through the Great Recession in 2007-2008 and continued building his portfolio and STRO’s brand until the 2010s. At this pivotal juncture, Millstein was able to capitalize on the “Amazon Effect” and envisioned a new focus for the rental and valuation growth of his properties immediately. Millstein embarked on an aggressive buying plan, tripling his portfolio in size, while being hyper-focused on purchasing each building at the “right” basis and possessing certain vital features that provide long-term success in the industrial real estate market.
Millstein serves as the President of STRO, where he oversees the successful management and leasing of over 30 buildings and 2 million square feet. Currently, Millstein has approximately 500,000 square feet in different stages of development with expectations to increase his footprint to 5 million square feet by 2025.
What We Do.
The STRO Companies actively pursue new “value-add” and “stabilized” industrial real estate acquisitions in the tri-state region with a focus on Northern New Jersey. STRO has a strong history of delivering optimum results for their investors, partners and tenants.
For investors and partners, STRO offers an in-depth knowledge of the industrial properties and markets unmatched by anyone
For sellers and brokers, STRO brings a wealth of resources beyond just capital to every transaction. STRO is committed to closing quickly and on-time, as promised
For tenants, it’s the assurance of leasing from a first-class organization with a full complement of strong property management services