New York & Tri-State + Tri-State + Office | February 12, 2019

Seiko’s Mahwah Offices Trade in Sale-Leaseback

Five months after Seiko Holdings Corporation hired CBRE to market for sale a Class-A office/tech facility at 1111 MacArthur Blvd. in Mahwah, NJ, the property has changed hands for $10,295,000. CBRE also arranged an 18,400-square-foot leaseback by Seiko.

CBRE’s Thomas Mallaney, Randy Eigen and Conor Dolan spearheaded the marketing campaign, and represented Seiko in negotiations with the buyer, 1111 MacArthur Boulevard LLC.

“The property provided the buyer with the opportunity to own a wonderful asset with two blue chip tenants already in place,” said Mallaney. In addition to Seiko, multinational software tech company Nuance Communications occupies 27,317 square feet at the property.

Built in 1979 and fully-renovated in 1990, 1111 MacArthur is a two-story, 140,420-square-foot office/tech property on 18.86 acres near Interstate 287 and Route 17. The buyer was represented by John Friedland and Mark Tannen of United Realty Advisors LLC.

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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 13-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 15-20 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).