CBRE announced today that Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Rich Gatto, Fahri Ozturk, Travis Langer and Zach McHale of CBRE’s Institutional Properties group represented Northlight Capital Partners & Accordia Realty in the $16 million sale of 5 Becker Farm Road in Roseland, New Jersey. The CBRE team was also responsible for procuring the buyer, Aresco Management, a New York-based investment firm making its first New Jersey acquisition.
5 Becker Farm Road is a 91% leased Class-A office building totaling 121,667 sq. ft. The property is occupied by a diverse tenant base from industries such as cybersecurity, legal, and financial services.
CBRE Vice Chairman, Mr. Jeffrey Dunne commented, “Northlight and Accordia have done a tremendous job in maintaining a high-quality asset evidenced by the recent securing of over 50,000 sq. ft. of new long-term leases and extensions as a result. “
“We pride ourselves on bringing new capital to the market. The Aresco team identified this as their first acquisition outside of Long Island and were very diligent in getting this deal across the finish line. I expect them to continue to grow in New Jersey in the future,” added Mr. Neuer, Executive Vice President, CBRE.
CBRE Institutional Properties has several other investment opportunities on the market including: 80 Park Plaza, a 973,610 sq. ft. Class A office building in Newark, NJ that serves as PSEG’s headquarters; 400 Atlantic Street, a 508,043 sq. ft. value-add office building in Stamford, CT; and Plaza Square, a 415-unit apartment complex in New Brunswick, NJ.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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.com.
