Mid Atlantic Real Estate Journal — New Jersey — December 7 - 20, 2012 — 11B
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Also brokers sale of a 20-unit multifamily property CBRE completes two deals at One Meadowlands Plaza S
New Jersey Regional Commercial/Industrial Real Estate Focus
ing which the Private Capital Group has sold in Passaic County in the last year,” said Berger. “This out-of-town inves- tor was enticed by not only our ability to ease the transition of ownership by securing an excellent local management company, but also by the fact the building required no capital improvements due to the previ- ous extensive renovations.” “The multifamily market is very strong in northern New Jersey due to record low interest rates coupled with the area’s low vacancy rates,” added Klapper. ■
ADDLE BROOK,NJ — CBRE compl eted two transactions at the 422,000 s/f, class A Metro- politan Center located at One Meadowlands Plaza. The CBRE team of Greg Barkan and Donald Sper- ling , both senior vice presi- dents, and Robert Norton , senior associate, represented landlord KBS Capital Advi- sors in the transactions: • Ameream Management leased 4,004 s/f at the site. The company works to develop combination shopping and en- tertainment centers. • DBR 360, a computer de- sign business, moved into 2,828 s/f to grow its presence in New Jersey. “One Meadowlands Plaza is much more than a place to work,” said Barkan. “It’s an environment where businesses thrive by taking advantage of the myriad of services and ame- nities that encourages an effec- tive and productive workforce. Tenants have a prestigious location at a sought-after ad- dress, with superior access to mass transit.” Situated at Exit 16W off the New Jersey Turnpike at the junction of Rtes. 3 and 120, Metropolitan Center is lo- cated just 15 minutes from the Lincoln Tunnel. Newark Lib- erty International Airport and Teterboro Airport are within 10 miles, and dozens of res- taurants and shopping options are just minutes away at the Secaucus outlets and regional malls. “The tenants chose this prop- erty because of its geographic location, the building quality and on-site amenities,” said Randi Kaufman , senior vice president of KBS Capital Advi- sors. “Although one tenant is expanding in the state and the other is overseeing a major de- velopment project in the area, it’s a great fit for both tenants in their need for general office space.” PATERSON, NJ — CBRE completed the sale of a 20-unit multifamily property at 44 12th Ave. in Paterson. CBRE New Jersey Private Capital Group’s Charles Berg- er collaborated with Elli Klap- per of CBRE’s NY Investment Properties team to represent the seller. The three - s t ory apar t - ment building, which is 100% leased. “This is the eighth build-
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