Business & Finance

Roseland Office Building Sold for $16.7 Million

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ROSELAND, NJ – CBRE Group, Inc. recently announced that Jeffrey Dunne and Jeremy Neuer of CBRE Institutional Properties in collaboration with Patrick Arangio and Jack Howard of CBRE National Loan & Portfolio Sale Advisors and Nick Savage of CBRE’s Advisory & Transaction Services represented a special servicer in the sale of 4 Becker Farm Road in Roseland for $16,700,000.

The property is a more than 281,762-square-foot office building situated within the 280 Corporate Center Business Park, just a half mile from the four-way cloverleaf interchange of I-280 (Exit 5) and Livingston Avenue. The property enjoys immediate access to Northern New Jersey’s major commuter highways and nearby amenities and only 30 minutes from Manhattan.

Currently 95-percent leased, 4 Becker Farm Road offers a strong credit rent roll with two of the most recognizable professional services companies in the country, KMPG (91,003 square feet) and CohnReznick (155,993 square feet).

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“With the impending vacancy, 4 Becker is an excellent redevelopment opportunity for new ownership,” said Dunne.

To learn more about CBRE and its properties, click HERE.

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