Caryl Communications is an award-winning public relations and marketing agency based in Paramus, N.J. Read More

Cushman & Wakefield: Red Bank, N.J., Office Campus Trades for $26 Million

| February 13, 2017 | 0 Comments

Download Word Document: Click Here

RED BANK, N.J., Feb. 13, 2017 – Cushman & Wakefield’s Metropolitan Area Capital Markets Group has arranged the $26 million off-market trade of a three-building office property in Red Bank. Mack-Cali Realty Corp. purchased the 17-acre, multi-tenant campus from Alfieri Company, Inc.

Totaling 280,500 square feet, the property includes 100 and 200 Schultz, and 230 Half Mile Road. The current occupancy presented an opportunity with strong upside potential, according to Cushman & Wakefield’s Andrew Merin, who headed the transaction with David Bernhaut, Gary Gabriel, Brian Whitmer and Andrew MacDonald.

“Mack-Cali has been focusing its investment activity in certain geographic areas, and these buildings sit adjacent to another, highly successful asset in the firm’s regional portfolio,” Merin said. “Mack-Cali plans to incorporate them as part of one cohesive campus with shared amenities, which will enhance the potential of this already great value-add play.”

Merin added that the property historically has attracted credit tenants drawn by its easy accessibility and the region’s strong labor pool. Located immediately off Exit 109 of the Garden State Parkway, the campus offers a full-service cafeteria and fitness center and a well-landscaped central courtyard with outdoor seating.

Based in East Rutherford, New Jersey, Cushman & Wakefield’s Metropolitan Area Capital Markets Group specializes exclusively in investment sales of office, industrial, multifamily and retail properties throughout New Jersey, New York, and Fairfield County, Connecticut. The team has completed more than $27 billion worth of transactions since 2000, closing over $3 billion in sales in 2016.

###

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

-END-

 

Tags:

Category: Cushman & Wakefield of New Jersey, News Releases, Newswire: Latest News

About the Author ()

Leave a Reply

Your email address will not be published. Required fields are marked *

Please enter validation text from image * Time limit is exhausted. Please reload the CAPTCHA.