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New York & Tri-State  + New Jersey  + Industrial  |  June 30, 2020
Paul Bubny
By: Paul Bubny

CBRE Arranges Sale of NJ Industrial

CBRE arranged the sale of 1201 Valley Brook Ave., a 180,000-square-foot industrial property in Lyndhurst, NJ, for an undisclosed sum.

The CBRE team of Thomas Monahan, Brian Fiumara, Steven D’Amato, Larry Schiffenhaus, Anastasia Lazarides, Lauren Hageman and Gerard Monahan represented Jos L. Muscarelle in the sale of the property and sourced the buyer, Sitex Group.

“While not completely immune, New Jersey’s industrial market has performed exceptionally well during these trying times for our industry,” said Monahan. “Our team was able to work extremely efficiently and collaboratively with both parties in closing the acquisition of this significant industrial site.”

The distribution facility, which was vacant at the time of sale, features 11 loading docks, 26’ clear ceiling heights and parking for 162 vehicles. Sitex Group also has plans for several capital improvements to modernize the building for today’s users.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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