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Wednesday, November 19, 2008 Retail
Jeffrey Dunne and Todd Newman of CB Richard Ellis represented Aviation Tower in the sale while Jim Gunning of CBRE Melody procured financing for the buyer. Aviation Plaza is a grocery anchored power shopping center that contains more than 642,000 square feet. It is located along U.S. Route 1 & 9 at 617-701 W. Edgar Rd. and is anchored by ShopRite, Target, Home Depot, AMC Theatres, Marshalls, Staples, Old Navy and A.C. Moore. "This is the third 1031 sale that we've completed for Milbrook over the past 18 months," Dunne said. "They are buying great real estate with Aviation and should fare well with this investment." Dunne is the vice chairman of the New York Institutional Group, 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 25 asset industrial portfolio for $209M in New York and New Jersey. Newman is an associate with the NYIG and joined the team in February 2005. He is a former transaction manager with Clayton Services, Inc. Address: 617-701 W. Edgar Rd., Linden, N.J. Size: 642,458 square feet Filed Under: Retail 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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