ANNANDALE, NJ—The office building net-leased to Ingersoll Rand Tools as its corporate headquarters on Route 31 here has been sold for $18.1 million to American Realty Capital Properties, Inc.

The transaction was announced by CBRE Group, which represented CBRE Global Investors, the sellers, in the transaction. CBRE’s Jeffrey Dunne, Kevin Welsh, Brian Schulz and Frank Maresca of its New York institutional group also procured the buyer in the deal.

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