In the first, Fort Lee, NJ-based Prism Capital Partners bought 390, 400, 420 and 440 Veterans Blvd. and 484 Washington Ave. in Carlstadt, NJ from Utility Packaging. The portfolio includes three one-story office buildings and a former bank branch, as well as a 1.5-acre development site. The purchase price was not disclosed.
"Prism has added to its growing regional portfolio with established assets in the Meadowlands submarket," says Stifelman, who teamed with C&W's Steve Elman to rep both the buyer and the seller. "Investor sales continue to lead activity in New Jersey, and Utility Packaging took advantage of this current climate to achieve an attractive sale price."
In Alexandria Twp., Hunterdon County, meanwhile, Toll Brothers bought 181 acres of land from Forsat Inc., a California-based REIT. The Huntingdon Valley, PA-based Toll has the site, which was previously an equestrian center, slated for residential development.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.