CBRE National Partners’ Northeast team completed investment sales valued at nearly $2 billion in New Jersey during 2020, exceeding its 2019 totals, the real estate firm announced recently.
The sales were part of the team’s overall $4.4 billion year, achieved despite the COVID-19 pandemic, CBRE said in a news release. The team includes Brian Fiumara, Michael Hines, Brad Ruppel, Bo Cashman, Jonathan Beard and Lauren Dawicki, CBRE noted.
Its success included 23 property sales in New Jersey totaling more than 13.8 million square feet of commercial assets. The team closed on 11 sales in December alone, the real estate firm noted.
That compared with 17 sales and 8.3 million square feet in 2019, CBRE said.
“Despite the unprecedented challenges our industry faced in 2020, we were able to attain exceptional returns for our clients while posting another record-breaking year,” Fiumara, a vice chairman, said in a prepared statement. “Our entire team worked diligently through this unusual year to negotiate deals with numerous parties under challenging conditions in order to realize excellent outcomes for our clients.”
Since 2015, the team has closed on 86 total transactions totaling more than $5 billion and more than 44.5 million square feet in New Jersey, CBRE said.