CBRE handles $14.5M sale of Harrison development site

CBRE announced Tuesday the $14.5 million sale of a multifamily development site in Harrison.

The site, located at 15 Essex St., lies within the Waterfront Redevelopment area of the town and contains a 233,000-square-foot warehouse facility and a vacant lot for parking.

Charles Berger, first vice president at CBRE; Elli Klapper, first vice president; and Mark Silverman, associate; of the tri-state investment properties team, along with Thomas Sullivan and Paul Touhey, senior vice presidents at Advisory & Transaction Services, represented the seller, GEO Specialty Chemicals Inc., and found the buyer, 28th President LLC.

“Our Tri-State Investment Properties team is proud to have achieved excellent pricing for our client, while at the same time providing a tremendous opportunity for the buyer to continue taking advantage of the transformation of the Harrison landscape,” Berger said. “We were able to help our client navigate this long and complicated process and are excited to be a part of Harrison’s downtown transformation. Along those lines, we also have a variety of similar deals coming to market over the next several months in Hudson County and other up and coming urban centers.”