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.”
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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].
