June 30, 2020 Comments (0) Views: 291 New Jersey, New York News, Tri-State Area New York

CBRE Arranges Sale of NJ Industrial

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CBRE arranged the sale of 1201 Valley Brook Ave., a 180,000-square-foot industrial property in Lyndhurst, NJ, for an undisclosed sum.

The CBRE team of Thomas Monahan, Brian Fiumara, Steven D’Amato, Larry Schiffenhaus, Anastasia Lazarides, Lauren Hageman and Gerard Monahan represented Jos L. Muscarelle in the sale of the property and sourced the buyer, Sitex Group.

“While not completely immune, New Jersey’s industrial market has performed exceptionally well during these trying times for our industry,” said Monahan. “Our team was able to work extremely efficiently and collaboratively with both parties in closing the acquisition of this significant industrial site.”

The distribution facility, which was vacant at the time of sale, features 11 loading docks, 26’ clear ceiling heights and parking for 162 vehicles. Sitex Group also has plans for several capital improvements to modernize the building for today’s users.

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