South American Investors Acquired High-Tech Industrial Property in New Jersey

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CBRE announces that Jeffrey Dunn, Jeremy Neuer, Steve Bardsley, David Gavin, Travis Langer and Zach McHale of CBRE Institutional Properties have represented AVR Realty in the sale of 800 Corporate Drive for $ 15.6 million in Mahwa, State New Jersey.

The 800 Corporate Drive is wholly leased to Nobel Biocare and serves as a precision and lightweight assembly facility for the production of dental implants.

The CBRE team was also responsible for attracting a buyer, Urbana Partners, a South American investment management firm that owns properties throughout the United States and the United Kingdom.

Nobel Biocare has been in business for over 16 years and has invested heavily in the construction of a highly specialized facility of 84,280 s / f. The immediate neighborhood has been extremely active, underscored by the e-commerce company’s new delivery station and Volvo’s recent acquisition of the former DressBarn complex.

CBRE Vice Chairman Jeffrey Dunn commented, “AVR Realty has done a tremendous job maintaining a quality tenant relationship as evidenced by their long tenure and has done an impressive job of asset management. This became evident due to the strong interest shown by the investment community. “

“The buyer showed amazing diligence in finding the asset because he really understood the uniqueness of the building and the quality of the tenant. Real estate is vital to the tenant’s business and is an excellent addition to Urbana Partner’s US portfolio, ”added Neuer, executive vice president of CBRE.

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