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Alma Realty buys two office assets in Secaucus for $21M

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150 Meadowlands Parkway, Secaucus.
150 Meadowlands Parkway, Secaucus. - ()

Commercial real estate firm CBRE recently announced it worked alongside Rialto Capital in the sale of two office buildings totaling 212,666 square feet in Secaucus for $21 million.

The firm’s Jeffrey Dunne and Jeremy Neuer worked with Geoffrey Schubert of Rialto and procured the buyer for 150 and 200 Meadowlands Parkway, Alma Realty.

“150 & 200 Meadowlands is highly proximate to the Lincoln Tunnel and Manhattan, and provides secure cash flows from long-term leases along with opportunity to grow (net operating income) through further lease-up,” Dunne said.

The properties are 77 percent leased. Schiavone Construction, Ashley Stewart, Cory 1st Choice Home Delivery and Image Processing Systems are tenants at the properties.

“The property is strategically located three minutes from Route 3 and five minutes off the New Jersey Turnpike and routes 495, 1 and 9, with mass transit connectivity via NJ Transit bus and train service at Secaucus Junction Station offering access to Manhattan in under 15 minutes,” CBRE said in a news release. “The location is further enhanced by the strong base of lifestyle amenities and mixed-use environments along Meadowlands Parkway and nearby Harmon Meadow, providing a variety of retail, dining, hospitality and residential options for tenants.”

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Mario Marroquin

Mario Marroquin

Mario Marroquin covers real estate. A native of El Salvador, Mario is bilingual in English and Spanish. He graduated from Penn State University and worked in Pennsylvania before moving to New Jersey. His email is mariom@njbiz.com.

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