CBRE announced on Thursday the sale of mixed-use property in Secaucus.
The 149,000-square-foot property at 25 Enterprise Ave. was purchased by a partnership between EverWest Real Estate Investors and a Colorado-based investment fund from Glenmore Management. CBRE was subsequently retained to lease the facility, it said.
CBRE’s Advisory and Transactions Services team of Kevin Dudley and William Waxman worked with Elli Klapper and Charles Berger of the firm’s Tri-State Investment Properties team to negotiate the sale on behalf of the buyer. The seller represented itself.
“In today’s business climate, it’s more and more important that different service lines work together to create and develop interesting opportunities for our clients,” Waxman, executive vice president, said.
Klapper, a senior vice president, said, “We are continuing our collaborative efforts and working on new projects as we speak.”
“This property provided our client with a very rare opportunity to own a coveted asset in the heart of one of the most active industrial corridors in the country, in an off-market deal,” Kevin Dudley, senior vice president, said.
The property, which was built in 1970, is located in the Meadowlands and serves both warehouse and retail tenants.
“The property’s irreplaceable location situated just five miles from Manhattan offers excellent access for last-mile logistics users,” Steve Feinberg, EverWest’s director of northeast acquisitions, said.