WEST CALDWELL, NJ-The United Association of New Jersey-Plumbers Local 24 Education Fund has acquired 20 Fairfield Place here from 20 Fairfield Place Associates. The union will relocate its administrative, training and classroom facilities to the single-story industrial building from their existing headquarters in Lodi, NJ, which had become functionally obsolete.

"This is a significant transaction, one that was concluded after a thorough, extensive search," said Cushman & Wakefield's Bonni Heller, who represented the local, in a prepared statement. "Ultimately, the location met all of Local 24's requirements--convenience, curb appeal and image. The buyer will invest a significant amount of capital in the property to convert it to their very specific uses."

The seller was represented by Stephen Sander of CBRE. Until recently, an automotive tool supplier had used the building as a warehouse. The union will begin work on the conversion immediately.