Real Estate

CBRE Arranges $53.75M Sale of Industrial Facility in Monroe

New Ownership, GLP Capital Partners Names CBRE Exclusive Leasing Agent

CBRE completes a $53.75 million sale of 34 Engelhard Drive, a 203,000 sq. ft. industrial property located in Monroe Township. GLP Capital Partners, LLC acquired the property from Clarion Partners, and subsequently appointed CBRE as the property’s exclusive leasing agent.

CBRE’s Brian Fiumara led the marketing campaign and represented the seller in the negotiations.

“New Jersey’s industrial market continues to show incredible resilience despite some economic headwinds,” said Mr. Fiumara. “This transaction is indicative of strength of the sector, especially for well-located warehouse/distribution facilities that meet continued robust demand.”

Built in 1980, 34 Engelhard Drive is situated on a 12-acre site offering easy access to I-95 and is a great location for residential building.

To access more business news, visit NJB News Now.

Related Articles: