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Tuesday, May 22, 2012 Industrial
The deal was brokered by Jeffrey Dunne, Jeffrey Oram and Kevin Welsh of CB Richard Ellis' New York Institutional Group, along with Mindy Lissner of CBRE's East Brunswick office. The CBRE team also arranged for the financing of the property through The Guardian Life Insurance Company of America on the assumption of an existing loan on the asset. Built in 1994, the facility contains 19,387 square feet of office space on 15 acres with an additional 11 acres available for development. It is located at 1500 Rahway Ave. The warehouse portion of the facility was 100 percent leased at the time of sale to Hudd Distribution Services Inc., a division of Maersk Inc., an international shipping company. Dunne is the vice chairman of the NYIG, a 12-person team that specializes in New York and eastern second-tier cities. He was the Gale Company's Broker of the Year in 2002 and recently arranged the sale of a 148,131 square foot call center in Sergeant Bluff, Iowa to STAG Capital Partners. Oram, an associate of the NYIG, is the former CIO and vice president of corporate real estate for TSR Wireless LLC. He works on all asset classes of real estate; office, multi-family, retail and industrial. Welsh is a first VP with CBRE and is responsible for the company's New Jersey operation. He is a member of the NYIG and has completed $500 million of commercial real estate sales in the last 18 months. Lissner is a senior VP with CBRE and has been with the company since 1991. She was listed among the "Top Women of N.J. Real Estate" in the June 2002 issue of Real Estate NJ. Address: 1500 Rahway Ave., Avenel, N.J. Size: 324,445 square feet Built: 1994 Filed Under: Industrial E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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