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CBRE Brokers $5M Multi-Property Totowa Portfolio

SADDLE BROOK, NJ-Professionals with multiple specialties were called to lease and sell the Nelson Portfolio, which consists of office, industrial and vacant land.

By Debra Hazel | Updated on December 02, 2011

SADDLE BROOK, NJ-CBRE has completed the sale of the Nelson Portfolio, consisting of industrial properties, a vacant office property and an empty lot, in Northern New Jersey, for $5 million to an undisclosed buyer. CBRE’s Charles Berger, Elli Klapper and Thomas Mallaney represented the owner, Nelson.

The portfolio consists of: the vacant 27,000-square-foot office site at 141 Shepherds Ln. in Totowa; the 33,600-square-foot 171 Shepherds Ln. in Totowa occupied by Verizon; the 7,715-square-foot industrial service center at 51 Old Ledgewood Rd., and an adjacent empty five-acre lot at 49 Old Ledgewood Rd. The combination of lease renewals and marketing for sale required CBRE to bring in a diverse team, the company says.

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