"The owners of the building were able to ensure a smooth transition for Apex for this expanded space," says Richard Danesi, SVP at CB Richard Ellis in Saddle Brook, NJ. As reported by GlobeSt.com, CBRE picked up the exclusive leasing assignment for the property from owners Praedium Group and Lincoln Property Co. earlier this year.
Praedium and Lincoln Property bought the building in late 2005 from Hartz Mountain Industries for a reported $11.9 million, or about $93 per sf. The new owners subsequently launched a capital improvement program, since completed, that upgraded the building from a class B to class A.
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