CBRE arranges $34M sale of One Harmon Plaza

CBRE announced Monday it has arranged the $34.25 million sale of One Harmon Plaza in Secaucus.

The plaza was sold by a joint venture between Mountain Development Corp.q and PCCP LLC.

The property is a 192,082-square-foot, Class A building. It was recently upgraded including reconstructing the parking garage and the lobby as well as the addition of a new conference center, cafeteria and fitness facility.

Samuel Bernhaut, vice president of CBRE advisory and transaction services, and Robert L’Abbate, first vice president of CBRE capital markets, orchestrated the deal on behalf of the joint venture.

“By using the CBRE platform and leveraging relationships, we were able to identify and secure an exceptional, stabilized investment opportunity for our private investor,” Bernhaut said. “Our team looks forward to assisting the new ownership in building on the momentum created by Mountain Development and PCCP, LLC to maximize the potential of this one-of-a-kind asset.”

James F. Gunning and Donna Falzarano of CBRE’s Debt & Structure Finance Services team arranged financing on behalf of the buyer, a private investor.