PARSIPPANY, NJ–A dinosaur has awoken in Parsippany, as a decrepit building that had been vacant for 20 years was sold to a company that will refurbish it for industrial flex use.
CBRE Group pulled off the deal for 20 East Halsey Road, completing sale of the 75,000-square-foot property for $3.3 million.
It's another sign of a trend declared by CBRE's Kevin Welsh at NAIOP's recent national industrial conference in Jersey City: Class B industrial is the most preferred property type in the region right now. (See previous story.)
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