SECAUCUS, NJ—Extended Success, a New York-based family-owned investor, has acquired 400 Plaza Drive in Secaucus, NJ, from Hartz Mountain Industries, Inc., for $30 million.
CBRE Institutional Properties team of Jeffrey Dunne, Kevin Welsh, Brian Schulz and Frank Maresca, and David Opper of CBRE's Saddle Brook office represented Hartz Mountain in the deal, and also found the buyer.
The sale is the latest in Hartz Mountain's series of transactions divesting large office properties, including the sale of 500 Plaza Drive for $69 million in 2014 and the sales of 100 and 200 Plaza Drive in 2013. The company is reinvesting in other kinds of real estate, mostly multifamily.
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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].
