Search
 

C&W Nets 826,000-SF Industrial Sale

EAST RUTHERFORD, NJ-The fully leased portfolio, located at Exit 8A, has traded hands from TIAA-CREFF to Boston-based Cabot Properties.

By Alyson Grala | Updated on December 30, 2009

EAST RUTHERFORD, NJ–In one of the largest New Jersey industrial investment sales year-to-date in 2009, an 826,000-square-foot, fully leased portfolio changed hands recently. Cushman & Wakefield, Inc. arranged the transaction on behalf of TIAA-CREF Global Real Estate, which sold three properties located within the New Jersey Turnpike Exit 8A market to Boston-based Cabot Properties.

Andrew Merin, David Bernhaut, Gary Gabriel, Jose Cruz and Kevin O’Hearn of Cushman & Wakefield’s Metropolitan Area Capital Markets Group in East Rutherford, and industrial sales and leasing specialists Frank Caccavo, Jason Goldman and Andrew Siemsen, who are based at the firm’s Edison office, orchestrated the sale. C&W declined to release the sale price.

Situated on 53.4 acres, the portfolio includes three warehouse buildings–each 100% leased to a single tenant. Built between 1983 and 1990, the properties have been institutionally owned, well-maintained and offer features such as rail access, ESFR sprinkler systems, cross docking, heavy power, trailer parking and office space.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.