Edison, New Jersey - January 18, 2018 - CBRE announced today that it has arranged for the sale of a 369,313-square-foot industrial facility located at One Truman Drive South in Edison, New Jersey. The property was acquired by Liberty Property Trust for an undisclosed amount.
Brian Fiumara, Michael Hines, Brad Ruppel and Lauren Dawicki of CBRE National Partners represented the sellers, Cohen Asset Management, Inc. & J.P. Morgan Asset Management, during negotiations. CBRE executive vice president Thomas Monahan assisted with the sale.
Built in 1978, this industrial facility features 24' ceiling heights, 40 dock doors, six drive-in doors and an expansive paved parking area. The warehouse and distribution facility is 100 percent leased to Midwest Air Technologies, Inc.
CBRE National Partners arranged the sales of 11 properties in New Jersey in 2017, totaling $928 million in total consideration. The 11 sales transactions combined for more than 7.02 million square-feet sold.
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.