MOONACHIE, NJ—CBRE is now the exclusive leasing agent for Tri State Commerce Center, formerly One Lladro Drive, a 216,000-square-foot warehouse and distribution center in the Meadowlands submarket. Principal Real Estate Investors recently acquired the Moonachie, NJ, property, and is working with CBRE to rebrand and reposition the asset.
Cassidy Turley's team of Andrew Houston and Graham Stephens, with José Puig of Aguirre Newman, represented Lladro USA, a subsidiary of parent company Valencia-based fine porcelain collectible creators, Lladro, the property seller.
The CBRE team of William Waxman, executive vice president; Mindy Lissner, executive vice president; Matthew Corpuel, first vice president; Thomas Tucci, associate, and Jamie Dennison, client services specialist, is bringing the newly renamed Tri-State Commerce Center to market.
“One Lladro Drive offered Principal Real Estate Investors a rare opportunity to purchase a strategically located warehouse and distribution center and allowed the buyer to break into a well-established and stable New Jersey industrial market,” said Mr. Waxman. “The facility will undergo major capital improvements to fortify it as an institutional-quality asset with improved sprinkler systems, lighting and loading capabilities.”
The property is located close to Routes 17 and 46, which provide direct connections to Route 80 in fewer than two miles and the New Jersey Turnpike in less than three miles.
Correction, 10/17/2014, 2:28 p.m.: This article has been updated to reflect the fact that Cassidy Turley and Aguirre Newman represented the seller in the transaction.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
