JERSEY CITY-Rreef has acquired the 261,000-sf warehouse/distribution building at 100 Harbor Dr. here. The acquisition was made on behalf of one of the investment advisory firm's institutional clients, according to David M. Fazekas, vice president in Rreef's New York City office.

CB Richard Ellis orchestrated the transaction on behalf of both the buyer and the seller, Logistix Urban Reneal Corp., a locally based holding company. For CBRE, senior vice president William Waxman, vice president Nicholas Nitti, first vice president Gary Capetta and senior associate Carrie Brown of the firm's Saddle Brook, NJ office were all involved. The sale price has not been released.

"This was a mutually beneficial investment sales transaction," Waxman says. "The facility's location near the ports and New York City was a key draw in this acquisition."

Located on this city's Hudson River waterfront, the building is currently fully leased to Iron Mountain, which uses the site for data storage and management, and Tyco Inc. However, the latter is slated to vacate its space in the spring of next year and CBRE has been hired as exclusive leasing agent for the property.