February 12, 2019
Five months after Seiko Holdings Corporation hired CBRE to market for sale a Class-A office/tech facility at 1111 MacArthur Blvd. in Mahwah, NJ, the property has changed hands for $10,295,000. CBRE also arranged an 18,400-square-foot leaseback by Seiko.
CBRE’s Thomas Mallaney, Randy Eigen and Conor Dolan spearheaded the marketing campaign, and represented Seiko in negotiations with the buyer, 1111 MacArthur Boulevard LLC.
“The property provided the buyer with the opportunity to own a wonderful asset with two blue chip tenants already in place,” said Mallaney. In addition to Seiko, multinational software tech company Nuance Communications occupies 27,317 square feet at the property.
Built in 1979 and fully-renovated in 1990, 1111 MacArthur is a two-story, 140,420-square-foot office/tech property on 18.86 acres near Interstate 287 and Route 17. The buyer was represented by John Friedland and Mark Tannen of United Realty Advisors LLC.
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