CBRE Brokers Two Multifamily Deals in Middlesex County for $11M
Brookside Village, which is located at 28 Lake Street in Jamesburg, is a newly constructed property that consists of 42-apartments, traded for $8.1 million.
SADDLE BROOK, NJ—Commercial brokerage firm CBRE reports its New Jersey Investment Sales team has brokered the sale of two multifamily properties in Middlesex County to new investors. The deals garnered a combined $11.3 million sale price.
CBRE’s Nat Gambuzza and Trevor Fiebel were responsible for representing the sellers and procuring the buyers in each of the transactions, which included Heritage at Piscataway in Piscataway, and Brookside Village in Jamesburg. They worked in collaboration with Jeffrey Dunne and Gene Pride of CBRE’s Stamford, CT office.
Heritage at Piscataway, located at 100 Begonia Court, is an income restricted 55-plus active adult community that consists of 30 one-bedroom apartments, which sold for $3.2 million.
Brookside Village, which is located at 28 Lake Street in Jamesburg, is a newly constructed property that consists of 42-apartments, traded for $8.1 million. The property has a variety of tenant amenities, including a fitness center, storage units, an outdoor gazebo and ample parking.
CBRE’s Gambuzza says that investors are drawn to the Middlesex County apartment market due to its increasing population and diverse and growing employment base.