Dunne, Kevin Welsh, Brian Schulz and Frank Maresca marketed and sold the property to Vision Properties, which is a subsidiary of Arena Capital Group headed by Fred Arena. Arena Capital is based in New Jersey, but owns office buildings along the East Coast, including several trophy properties in Charlotte, NC, and Atlanta.

“We feel we have just acquired the best building in the area,” Arena tells GlobeSt.com. The broker Dunne uses the “best” word, too, and he adds that the Meadowlands area is generally seeing strong interest of late. The company is marketing several office buildings at Harmon Cove in adjacent Secaucus.

The Met Center, a prominent fixture in the flat Meadowlands since it was built in 1986, is set at the crossroads of Route 3 with the New Jersey Turnpike. Standing just west of the Lincoln Tunnel, six miles by car from Manhattan, it is only four miles from the Secaucus Junction transit center.

The New York Giants and Jets professional football teams play at MetLife Stadium across Route 3. The American Dream project – long-stalled, in part because of a dispute with the teams about traffic on game days – is currently back on track to become the largest retail development project in North America. Developer Triple Five created the country's first truly giant retail center, the Mall of America in Minnesota.

American Dream is to provide 1.7 million square feet of new retail space and another 1.1 million square feet of restaurants, dining establishments and attractions, including an outdoor water park.

Dunne said the potential from the American Dream development was a positive factor in the office building's a “long-term investment” appeal. Arena's company was primarily attracted by the crossroads location near Manhattan and "the diversity and quality of the rent roll," however, he said.

AEGIS occupies 93,000 square feet, Hudson News leases 61,448 square feet, and Michael Kors has a 43,336-square-foot office at the building. The commercial real estate services company Cushman & Wakefield has its offices there, as does JLL, which relocated earlier this year.

The CBRE team that made the office tower sale specializes in investment properties in the suburban markets surrounding New York City, and elsewhere in the country Its client base encompasses institutions, corporations, private investors, developers and REITs.

The team has closed over $9 billion in property sales in all property types over the last five years.