CBRE Closes Significant Deals

MARLTON PARK, NJ - CB Richard Ellis' Private Client Group, a division of New Jersey's largest commercial real estate brokerage firm, completed more than $16 million in sale transactions throughout the state of New Jersey. The Private Client Group represents private investors in marketing and trading assets uniquely suited to the private capital arena. Those responsible for the multi-million dollar transactions were Dean Marchi, Charles Berger, and Gehane Triarsi.

"Despite the historic challenges that exist in the commercial real estate market, our group was able to successfully complete a significant number of sale transactions throughout New Jersey due to enhanced buyer demand and access to finance options provided by CBRE professionals," commented Marchi. "By offering acquisition and disposition services which encompass our national platform, asset review and financial analysis, as well as investment strategy development and due diligence, we were able to support our growing client base during these difficult economic times."

The Private Client Group completed the following sale transactions in New Jersey:

Represented the seller, Sunshine Homes, in the sale of a 60-unit, fully renovated garden apartment complex for $5,300,000 in Passaic, New Jersey;

Represented the seller, Alshan Realty Co., in the sale of a multi-family property located at 137-141 Center Street in Clifton, New Jersey for $3.49 million. This property contains a total of 36 apartment units, which were 100 percent occupied at the time of the sale;

Represented the seller in the sale of a 23-unit mixed-use building located at 240 Sip Avenue in the Journal Square area of Jersey City, New Jersey for $1.825 million. This 4-story property was 100 percent occupied at the time of the sale transaction and consists of 21 apartments and 2 retail stores;

Represented the seller, 49 Hill Street Management LLC, in the sale of a mixed-use, multi-family and retail building located at 49 Hill Street in Newark, New Jersey for $1.64 million. This property consists of 25 apartments and 5 retail units;

Represented the seller, Rainbow Rascals, in the sale of it's daycare facility located at 1 Bradford Road in Bedminster, New Jersey for $1,075,000;

Represented the seller in the sale of a mixed-use multi-family and retail building located at 104 Route 46 East in Elmwood Park, New Jersey for $680,000. This property was comprised of 3 apartments and 2 retail units;

Represented the seller in the sale of a 4,600-square-foot single-tenant retail store located at 29 Division Street in Somerville, New Jersey for $625,000;

Represented the seller in the sale of a 6,000-square-foot retail/office space located at 412 Main Avenue in Clifton, New Jersey;

Represented the seller, Gramercy Capital Corporation, in the sale of a 6,217-square-foot building occupied by Bank of America, located at 4 Hunter Street in Lodi, New Jersey;

Represented the seller, Gramercy Capital Corporation, in the sale of a 4,795-square-foot building occupied by Bank of America, located at 207-209 Hackensack Street in Woodbridge, New Jersey;

Represented the seller, Gramercy Capital Corporation, in the sale of a 6,571-square-foot building occupied by Bank of America, located at 35 S. Washington Avenue in Bergenfield, New Jersey

"Our success in completing these transactions in what many consider to be the most turbulent economic times in recent history is further evidence of the perseverance exhibited by CB Richard Ellis' New Jersey Private Client Group," stated Marchi. "Given the number of motivated buyers and sellers present in the marketplace, we believe that we will continue to have success in achieving positive results for our clients in this challenging market, due particularly to CBRE's unique platform of services."