A specialized manufacturing facility at 800 Corporate Drive in Mahwah sold for $15.6 million, according to real estate firm CBRE.
AVR Realty sold the 84,280-square-foot facility to South American investment firm Urbana Partners, which owns properties throughout the U.S. and the U.K.
The property is being leased by Nobel Biocare, which has occupied the facility for over 16 years and uses it as a light assembly plant for the manufacture of dental implant products, CBRE said in a statement.
The team of Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Travis Langer and Zach McHale of CBRE’s Institutional Properties group represented the seller and procured the buyer.
“The buyer was amazingly diligent in pursuing the asset because they truly understood the uniqueness of the building along with the quality of the tenant,” Neuer, executive vice president, said in a prepared statement. “The property is vital to the tenant’s business and provides a great addition to Urbana Partners’ U.S. portfolio.”
