CBRE announced that Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Gene Pride, Travis Langer and Zach McHale of CBRE’s Institutional Properties group, in partnership with CBRE’s Tom Sullivan, represented an institutional seller in the $46.6 million sale of 170 Park Avenue in Florham Park, New Jersey.
170 Park is fully leased on a long-term basis to Celularity, Inc. and serves as their corporate headquarters, lab, and manufacturing facility.
The CBRE team was also responsible for procuring the buyer, JLL Income Property Trust, an institutionally managed daily NAV REIT advised by LaSalle Investment Management with a portfolio valued at more than $3.3 billion.
Invictus Picks Up Luxury Connecticut Portfolio
The properties are part of the second phase of the reimagined Waypointe District in Norwalk, Conn. Feb022021
Image courtesy of CBRE
Invictus Real Estate Partners has acquired two newly built Class A properties in Norwalk, Conn., from a joint venture of Alex Brown Realty Inc. and Belpointe Cos. Situated a block apart, The Berkeley at Waypointe and Quincy Lofts encompass a combined 198 units. CBRE represented the owner and procured the buyer.
The assets are part of the second phase of the redeveloped Waypointe District in Norwalk, planned to revive the area along West Avenue. The mixed-use community includes luxury living, retail and entertainment facilities. Last August, Invictus also purchased the development’s first phase dubbed The Waypointe backed with a $107.2 million Freddie Mac loan. The 464-unit community came online in 2016 and comprises 56,000 square feet of ground-floor commercial space.
At the Jan. 26 meeting, Town Administrator Greg Johnson said they revised their layout plan.
The new plan shows separate entrances and exits for both stores and no shared common spaces.
Tim Hess, a Maynard resident and owner of Studio InSitu Architects, Inc. in Maynard, has been helping them design the space.
Board of Selectmen Chairwoman Justine St. John and Selectman David Gavin still had reservations about a third dispensary going into the downtown area and both voted no. Selectmen Chris DiSilva, Armand Diabekerian and Jeffrey Swanberg voted yes.
St. John told Hungaro she was not opposed to the business per se, but did not think there should be a third dispensary in the downtown area. The board has previously approved HCAs with GreenStar Herbals and Mass Wellspring.
Dragged back from abroad to face justice - the people who fled the UK after committing serious crimes
Their efforts to leave the country frustrated the authorities but they were brought back to face justice in the courts
Updated
Irmantas Zvybas, Choudhry Ikhalaq Hussain, Michael Davis (Image: NCA, GMP)
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