In the first, Fort Lee, NJ-based Prism Capital Partners bought390, 400, 420 and 440 Veterans Blvd. and 484 Washington Ave. inCarlstadt, NJ from Utility Packaging. The portfolio includes threeone-story office buildings and a former bank branch, as well as a1.5-acre development site. The purchase price was notdisclosed.
"Prism has added to its growing regional portfolio withestablished assets in the Meadowlands submarket," says Stifelman,who teamed with C&W's Steve Elman to rep both the buyer and theseller. "Investor sales continue to lead activity in New Jersey,and Utility Packaging took advantage of this current climate toachieve an attractive sale price."
In Alexandria Twp., Hunterdon County, meanwhile, Toll Brothersbought 181 acres of land from Forsat Inc., a California-based REIT.The Huntingdon Valley, PA-based Toll has the site, which waspreviously an equestrian center, slated for residentialdevelopment.
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