Cushman & Wakefield Arranges Hudson News’ Acquisition of 135,000-SF Industrial Building

On Jan 22, 2016

Cushman & Wakefield has orchestrated the acquisition of 701-705 Jefferson Road, an industrial facility in Parsippany, by Hudson News Distributors. The buyer was represented by Bonni Heller, East Rutherford-based associate director for the commercial real estate services firm. Seller Jofra Realty was represented by Scott Perkins of NAI Hanson.

Prior to the acquisition, Hudson News, an operator of airport newsstands, was a full-building tenant of the property. The acquisition caps a process that began in 2013 when Heller, who has represented the company’s real estate interests for more than two decades, arranged the lease at 701-705 Jefferson Road, a transaction that marked the relocation of Hudson News’ wholesale distribution headquarters to the site from North Bergen. Heller simultaneously teamed with colleagues Richard Baumstein, and Cushman & Wakefield Metropolitan Area Capital Markets Group team members Andrew Merin and Gary Gabriel – all based in the firm’s East Rutherford office, in the sale of the former location.

“The Jefferson Road property was a perfect fit for Hudson News’ new, streamlined operations, providing the ability to operate on a 24/7 basis,” said Heller. “When the opportunity to acquire the property arose, it made perfect sense for the company to come full circle and purchase it.”

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