CBRE National Partners Northeast Team Completes More Than $4.4 Billion in Investment Sales During 2020; Nearly $2 Billion in NJ Alone

1/26/21

The CBRE National Partners Northeast team had an extremely successful 2020, completing investment sales valued at more than $4.4 billion—$1.9 billion in the state of New Jersey—despite the challenges of a global pandemic.

The CBRE National Partners’ team comprised of Brian Fiumara, Michael Hines, Brad Ruppel, Bo Cashman, Jonathan Beard and Lauren Dawicki far surpassed their annual totals over the past several years in 2020,arranging 23 property sales throughout the New Jersey market, totaling more than 13.8 million sq. ft. of commercial assets. Compared with the 17 sales transactions comprising 8.3 million sq. ft. completed in 2019, the team was able to realize remarkable results for their clients, setting the benchmark in the industry.

“Despite the unprecedented challenges our industry faced in 2020, we were able to attain exceptional returns for our clients while posting another record-breaking year," said Mr. Fiumara, Vice Chairman, CBRE.“Our entire team worked diligently through this unusual year to negotiate deals with numerous parties under challenging conditions in order to realize excellent outcomes for our clients.”

Among the most noteworthy transactions completed in 2020 was the industry redefining sale of Bridge Point 78, a master-planned, development site located in the heart of the Lehigh Valley in Phillipsburg, New Jersey. PGIM acquired the 380-acre property from Bridge Development Partners.Located on 942 Memorial Parkway, Bridge Point 78 has approvals in place to construct 3.9 million sq. ft. of warehouse/distribution space - one of the largest concentrations of approved landfor such development in the highly desirable Lehigh Valley.

In addition, the team arranged 11 sales in the state during the month of December: Portside Distribution Center in Newark, NJ; 10 Edison, a 900,022 sq.ft. property in Edison, NJ; Cabot Core Fund I, a portfolio of properties totaling 1.6 million sq. ft.; and the Meadow lands Circle Industrial Portfolio, totaling 849,131 sq. ft.

The team is currently actively marketing 13 additional properties totaling nearly 9.3 million sq. ft. of commercial space throughout the state. Since 2015, the CBRE National Partners Northeast team has closed on 86 transactions totaling nearly $5.1 billion and more than 44.5 million sq. ft in New Jersey.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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