Cushman & Wakefield advised Prism Capital Partners on the sale of a 40,000-square-foot boutique office building in downtown Rutherford, according to a Tuesday announcement from the broker. The team also arranged the equity for the acquisition.
The property, located at 25 Orient Way, formerly served as the headquarters of Boiling Springs Bank (now Blue Foundry Bank). It is a four-story building is being delivered fully available and includes abundant on-site parking. It’s strategically located within walking distance to New Jersey Transit’s Rutherford Station, as well as just steps away from numerous restaurants, cafes and local community services.
Andy Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt and Frank DiTommaso of Cushman & Wakefield’s Investment Sales Group helped arrange the capitalization on behalf of the buyer, Prism Capital Partners.
“We are pleased to have been able to assist in arranging the sale and capitalization for what will surely be a successful partnership between Prism and Crimson Capital,” Merin said.
“The combination of walkability to mass transit, abundant downtown amenities and on-site parking makes 25 Orient Way a highly desirable asset and we look forward to a successful reposition of the property,” said Eugene Diaz, Principal at Prism Capital Partners.