260 Broadway in Newark was one of the properties that changed hands.

SADDLE BROOK, NJ—Social services organization Youth Consultation Services has sold a portfolio of nine buildings in New Jersey to three different buyers for a total sale price of $8.27 million.

Commercial brokerage firm CBRE reported the transaction involved the purchase of seven buildings totaling approximately 82,000 square feet by one buyer in a sale-leaseback deal, while two other buildings that had recently been vacated by YCS were acquired by two separate purchasers.

The CBRE Tri-State Investment Properties team of Charles Berger and Elli Klapper, along with Randy Eigen and Donald Sperling of Brokerage Services, represented the seller in the transaction and also procured the majority of the buyers.

The properties are located in Montclair, Hackensack, Newark, Somerdale, Gloucester, Estell-Manor, Vineland and Blackwood, NJ.

"The properties, which are a mix of youth centers, residential facilities and schools, are all in prime locations and gave the buyers the ability to diversify," says Berger, SVP, CBRE. "The new owners of the net leased properties will be able to maintain a steady cash flow for the near future, with the possibility of development in the longer term, while the owners of the vacant assets will be repositioning them for alternative uses."

YCS provides services to thousands of New Jersey families who have children with special needs, including individualized educational, mental health and/or behavioral health programming.

"We are also very proud to be helping a non-profit that services challenged youths. These were complex transactions and only through a great deal of determination, creativity and collaboration between the CBRE teams were we able to maximize value for our client," CBRE Eigen says.

Instant Insights /

Majority of Youth Consultation Services' Portfolio Trades in Sale-Leaseback Deal

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