BP Lubricants USA, Wayne, NJ
WAYNE AND MANALAPAN, NJ—Marcus & Millichap brokered the sale of BP Lubricants USA's headquarters in Wayne, NJ, for $19.2 million and the Tennent 9 Shopping Center, 700 Tennent Road in Manalapan, NJ, for $11.75 million.
The BP Lubricants USA deal was brokered by Alan Cafiero and Ben Sgambati of Marcus & Millichap's New Jersey office, who represented the seller, Woodbranch Management, a private investor, and the buyer, Lubins Family LLC, which utilized this transaction to fulfill a 1031 exchange. The buyer and seller were identified by Real Capital Analytics, a proprietary research database that tracks commercial real estate transactions. Woodbranch had acquired the property in December 2016, Real Capital Analytics says.
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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].
