PARSIPPANY, NJ–One Liberty Properties, Inc. hassold 45 Waterview Boulevard, a 106,680-square-footoffice property in Parsippany, NJ, for approximately $40 million.CBRE's Institutional PropertiesTeam of Jeffrey Dunne, KevinWelsh, Brian Schulz and FrankMaresca, represented One LibertyProperties in the sale. The CBRE team also found thebuyer, a fund invested in by an offshore entity and first time USbuyer, managed by JM Capital LLC and advised byNadlan Advisors LLC.
45 Waterview is located in an institutionalquality campus situated at the intersection of Interstates 80 and287. The Property is 100 percent net leased on a long-term basis byRoyal DSM, a global life science and materialscience company, for its North American headquarters.
“45 Waterview demonstrates the substantial depth of capital forlong-term, net leased assets in New Jersey,” says CBRE'sDunne. “This depth of capital is further exemplified byour recent sale of 2 Giralda Farms in Madison, NJfor $53.3 million and 1467 Route 31 in Annandale,NJ for $18.1 million. While the buyers of 2 GiraldaFarms and 1467 Route 31 South weredomestic capital sources, 45 Waterview attractedoffshore capital given its longer term 13-year lease.”
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