CBRE Group, Inc. announced today that Jeffrey Dunne and Jeremy Neuer of CBRE Institutional Properties in collaboration with Patrick Arangio and Jack Howard of CBRE National Loan & Portfolio Sale Advisors and Nick Savage of CBRE’s Advisory & Transaction Services represented a special servicer in the sale of 4 Becker Farm Road, Roseland, New Jersey for $16,700,000.
4 Becker Farm Road is a 281,762± square-foot office building strategically situated within the 280 Corporate Center Business Park, just a half mile from the four-way cloverleaf interchange of I-280 (Exit 5) and Livingston Ave. The property enjoys immediate access to Northern New Jersey’s major commuter highways and nearby amenities and only 30 minutes from Manhattan. Currently 95% leased, 4 Becker Farm Road offers a strong credit rent roll with two of the most recognizable professional services companies in the country, KMPG (91,003 square feet) and CohnReznick (155,993 SF).
Mr. Dunne commented: “With the impending vacancy, 4 Becker is an excellent redevelopment opportunity for new ownership.”
The 4 Becker Farm Road sale follows on the heels of CBRE’s sale of 500 Plaza Drive in Secaucus, New Jersey to Manulife US REIT last week for $115,000,000.
CBRE Institutional Properties has a number of attractive investment opportunities including: Oak Hill Park a 122,400± square-foot value add office building in Wayne, New Jersey; 55 Charles Lindbergh, a 214,581± square-foot 100% leased office building in Uniondale, New York; 6800 and 6900 Jericho Turnpike, a 315,500± square-foot value add office property in Syosset, New York; 9 West Broad, a 188,000± square-foot multi-tenant, value add office property in downtown Stamford, Connecticut.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.us.
