CB Richard Ellis represented both the tenant and the building owner, CalEast Industrial Investors, in the transaction. Responsible for the deal were first vice presidents Bill Waxman and Kevin Welsh, along with senior associate Nick Nitti and associate Carrie Brown.
"The addition of GT Brands to Jersey City will keep jobs and ratables in the community," Waxman says. "The location offered the company proximity to labor markets and New York City."
Formerly known as GoodTimes Entertainment, the company is based across the Hudson River in Manhattan. CalEast Industrial Investors, the owner of the property, is a joint venture of LaSalle Investment Management and CalPERS that invests in industrial properties in the eastern US.
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