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ROSELAND, NJ-Coldwell Banker Commercial Feist & Feist Realty Corp., based here, has arranged the sale of two pieces of land in Northern and Central New Jersey. Altogether, a total of 125 acres is involved in the separate transactions.

In one of the deals, Keystone Property Trust of West Conshohocken, PA bought a 50-acre site on Station Rd. in Cranbury, NJ, in the central part of the state, paying just under $4.8 million for the tract. John H. Horan, senior vice president and manager of the firm’s Central New Jersey office, engineered the sale. The identity of the seller was not disclosed.

The Cranbury property has been under contract for about two years, during which time it underwent an extensive environmental remediation, according to Horan. Keystone plans to build a 750,000-sf distribution center for home improvement retailer Home Depot on the site now that the sale has closed.

In the second transaction, the firm’s Anthony Saggese, a vice president in the Roseland, NJ office, has arranged the sale of a 75-acre site in Andover Twp., NJ. The sale price was not disclosed.

The second site will not be developed, commercially or otherwise, however. The buyer is the New Jersey Department of Environmental Protection, which intends to “retire” the tract. As part of the state’s Green Acres program, it will be added to the existing acreage of the adjacent Kittatinny Valley State Park in Northern New Jersey. In the sale transaction, Saggese represented both the buyer and the seller, locally based PS Associates.

Besides its home base here, the 100-year-old Coldwell Banker Feist & Feist has offices in Central New Jersey and in Allentown, PA.

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