CBRE completes $11.3M sale of two properties in Middlesex County

By Emily Bader
Piscataway/Jamesburg | Oct 17, 2019 at 12:38 pm

CBRE announced Thursday it has sold two multifamily properties in Middlesex County for a total of $11.3 million.

The buyers and sellers in each deal were new investors to each town, CBRE said.

CBRE sales team of Nat Gambuzza, Trevor Fiebel, Jeffrey Dunne and Gene Pride represented the sellers and procured the buyers in each transaction, which included Heritage at Piscataway in Piscataway and Brookside Village in Jamesburg.

“Investors are drawn to Middlesex County apartments due to its increasing population and diverse and growing employment,” Gambuzza said.

“As northern New Jersey becomes further saturated with investors, helping our clients find opportunities in other markets is paramount to their success,” Fiebel said. “We are thrilled to help our clients capitalize on the sales of their assets while also positioning buyers to make the most out of new opportunities.”

Heritage at Piscataway, located at 100 Begonia Court, is an income-restricted 55+ active adult community with 30 one-bedroom apartments. It sold for $3.2 million.

Brookside Village, located at 28 Lake St., is a new property with 42 apartments. The building, which has amenities including a fitness center, storage units, a gazebo and parking, sold for $8.1 million.

Emily Bader | ebader@roi-nj.com | emilybader