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CBRE completes $5.97M sale/leaseback in Secaucus

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425 Meadowlands Parkway, Secaucus
425 Meadowlands Parkway, Secaucus - ()

CBRE’s Tri-State Investment Properties team of first vice presidents Elli Klapper and Charles Berger announced Thursday the completion of the $5.97 million sale/leaseback of 425 Meadowlands Parkway in Secaucus.

The transaction involved the sale of the more than 50-year leasehold interest in the two-story, 111,106-square-foot building, as well the leaseback of approximately 45,000 square feet of office space currently occupied by Meadowlands Parkway Associates, and a lease buyout of tenant Capital One.

CBRE arranged the transaction on behalf of the seller, Meadowlands Parkway Associates, and procured the buyer, CPR Meadowlands Parkway LLC.

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Elana Knopp

Elana Knopp

Elana Knopp covers all things real estate for NJBIZ. You can contact her at eknopp@njbiz.com.

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