PARSIPPANY, NJ–One Liberty Properties, Inc. has sold 45 Waterview Boulevard, a 106,680-square-foot office property in Parsippany, NJ, for approximately $40 million. CBRE's Institutional Properties Team of Jeffrey Dunne, Kevin Welsh, Brian Schulz and Frank Maresca, represented One Liberty Properties in the sale. The CBRE team also found the buyer, a fund invested in by an offshore entity and first time US buyer, managed by JM Capital LLC and advised by Nadlan Advisors LLC.

45 Waterview is located in an institutional quality campus situated at the intersection of Interstates 80 and 287. The Property is 100 percent net leased on a long-term basis by Royal DSM, a global life science and material science company, for its North American headquarters.

“45 Waterview demonstrates the substantial depth of capital for long-term, net leased assets in New Jersey,” says CBRE's Dunne. “This depth of capital is further exemplified by our recent sale of 2 Giralda Farms in Madison, NJ for $53.3 million and 1467 Route 31 in Annandale, NJ for $18.1 million. While the buyers of 2 Giralda Farms and 1467 Route 31 South were domestic capital sources, 45 Waterview attracted offshore capital given its longer term 13-year lease.”