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Silverman Group Acquires Multi-State Industrial Portfolio
Rubenstein Properties, based in Little Falls, NJ, has disposed of a five-million-square-foot industrial portfolio comprised of 28 buildings and one development parcel, and spanning the Northeast, Midwest and Southeast.
The Basking Ridge, NJ-based Silverman Group acquired 27 of the properties for $183 million. Additionally, a tenant occupying one of the properties, 1055 Crossroads Blvd. in Muhlenberg, PA (pictured), purchased it for $14 million.
CBRE represented Rubenstein. Reps included a capital markets team led by Brian Fiumara, Michael Hines, Brad Ruppel and Lauren Dawicki, partnering with Bill Waxman and his New Jersey team, along with local CBRE brokers Kyle Roberts, Morey Knutsen, Tom Cooler, John Reed and William Wolf.
“The properties are all strategically located within infill locations in order to take advantage of consistently improving industrial leasing fundamentals and increasing demand with extremely limited supply,” said Fiumara. The portfolio is currently 95.8% occupied by a diverse tenant roster.
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- ◦Sale/Acquisition
