M id A tlantic Real Estate Journal — New Jersey — January 21 - February 17, 2022 — 5B N ew J ersey
www.marej.com
The CBRE team procures buyer CBRE arranges $18.75m sale of office/warehouse building at 225 Phillips Blvd. in Ewing, New Jersey
WING, NJ — CBRE announced that Jef- frey Dunne, Jeremy Neuer, Steve Bardsley, Da - vid Gavin, Rich Gatto, Fahri Ozturk, Travis Langer and Zach McHale of CBRE’s In- stitutional Properties group, in partnership with CBRE’s Matthew Saker and Alec Monaghan , represented Edu- cational Testing Service (ETS) in the $18.75 million sale of 225 Phillips Blvd. in Ewing. The CBRE team was also respon- sible for procuring the buyer. Originally built as a build- to-suit for ETS in 1995, 225 Phillips Blvd. totals 310,000 s/f of which 165,000 s/f is cur- rently office space and 145,000 s/f is warehouse and print space. ETS will leaseback the building for a short period of time providing the buyer with the opportunity to commence marketing in advance of the building becoming available. CBRE vice chairman, Jef- frey Dunne said, “This build- ing is truly one-of-one in the market given its mix of office and warehouse space. ETS maintained the building in an immaculate state and the qual- ity of both the initial construc- tion and the additional capital invested recently helped drive interest during the marketing process.” “The buyer immediately saw the value in the building and the existing infrastructure. ETS recently upgraded the building common areas and added a full building generator to provide uninterrupted power throughout,” added Neuer, ex- ecutive VP, CBRE. In other news, CBRE an- nounced that Marc Trevisan is returning as a senior VP based in the firm’s Saddle Brook office as part of its industry-leading occupier group. Trevisan joins CBRE from Cushman &Wake- field, where he served as an executive managing director. Prior to Cushman &Wakefield, he had a successful career at ESG/Insignia and CBRE where he was the top producer in the state in 2005. "A 30-year veteran of the commercial real estate indus- try, we are pleased to welcome Marc back to CBRE,” said Jeff Hipschman , senior manag- ing director. “Marc returns to CBRE to combine his deep commitment to his clients with CBRE’s market leading plat- form of global capabilities to E
provide clients with outstand- ing resources and results.” Trevisan has represented several national and multi- national companies. Recent assignments include Integra LifeSciences Global Headquar- ters and Mercury Lighting Headquarters. Trevisan has been recognized by Gale/Mack-Cali as a “Broker of the Year” on seven occasions. He has received similar awards from Advance, Normandy, NJBIZ and CoStar and was a NAIOP “Deal of the Year” final- ist in 2015, and won the award in 2017 and 2018. MAREJ
225 Phillips Blvd.
P o s k a n z e r S k o t t A r c h i t e c t s 550 North Maple Avenue, Ridgewood, NJ 07450 201.445.2322 www.poskanzerskott.com
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