JLL arranged the $8.7 million sale on behalf of Brixmor Property Group.

“The property is a perfect addition to our portfolio of transit-oriented workforce housing, and we will add additional value by enhancing management and resident services,” says Andy Wallace, CEO of One Wall Partners.

“The property's durable in-place cash flow and significant upside were appealing to American Equity Partners," says Newmark Knight Frank's Kevin Welsh.

Kelly Berfield and Ryan Dietrick of Colliers International's Allentown office facilitated both sales.

"Our new space is a dramatic renovation of a turn-of-the-century former industrial facility," says Diane Smith, GR8 People's CEO.

“This is a stabilized office investment property with zero vacancy, occupied by strong credit tenants with long-term leases,” says John Abuja, IPA senior director.

“Although the financial markets were highly unpredictable, commercial real estate performed the way it has for most of the past several years – with steady growth supported by strong fundamentals,” says Jason Wolf, founder and managing principal of WCRE.

The acquisition continues "our strategy to acquire and hold high-demand industrial properties in the region,” says Peter Corcoran, vice president of leasing and development for Liberty's New Jersey office.