{"id":1004021277,"date":"2010-06-29T10:14:08","date_gmt":"2010-06-29T18:14:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004021277"},"modified":"2022-12-02T11:57:05","modified_gmt":"2022-12-02T19:57:05","slug":"cushman-wakefield-spearheads-142500-sf-office-sale-in-n-j","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-spearheads-142500-sf-office-sale-in-n-j\/","title":{"rendered":"Cushman &amp; Wakefield Spearheads 142,500 SF Office Sale in N.J."},"content":{"rendered":"<p>June 29, 2010<br \/>\nBy Allison Landa, News Editor<\/p>\n<p><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/225-summit-Avenue.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004021278\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-spearheads-142500-sf-office-sale-in-n-j\/225-summit-avenue\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/225-summit-Avenue.jpg\" data-orig-size=\"1800,1205\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"225 summit Avenue\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/225-summit-Avenue.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/225-summit-Avenue.jpg\" alt=\"\" title=\"225 summit Avenue\" width=\"300\" height=\"200\" class=\"alignright size-medium wp-image-1004021278\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/225-summit-Avenue.jpg 1800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/225-summit-Avenue.jpg?resize=300,201 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/225-summit-Avenue.jpg?resize=768,514 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/225-summit-Avenue.jpg?resize=1024,686 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/225-summit-Avenue.jpg?resize=1536,1028 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Cushman &amp; Wakefield has arranged the sale of the former Toys \u2018R\u2019 Us headquarters in Montvale, N.J. The 142,500-square-foot building at 225 Summit Ave. was sold to CB Richard Ellis Realty Trust by a partnership comprised of a fund managed by Urdang Capital Management Inc., Ivy Equities and Paragon Realty.<\/p>\n<p>The two-story building is leased through 2020 by Barr Pharmaceuticals and is currently fully occupied by sublessor Medco Health Services, Inc. Completed in 1966, it sits on 35 acres and underwent an $8.5 million renovation in 2007. <\/p>\n<p>\u201cThe pricing and the execution of this transaction is reflective of the asset and creditworthiness of the tenants,\u201d Cushman &amp; Wakefield Metropolitan Area Capital Markets Group member Gary Gabriel said when announcing the news. \u201cIt\u2019s a great buy for CB Richard Ellis Realty Trust.\u201d<\/p>\n<p>The deal was handled by the Metropolitan Area Capital Markets Group, which represented the seller and procured the buyer. Group members involved in the transaction were Gabriel, Andrew Merin, David Bernhaut and Jared Zimmel. The group specializes exclusively in real estate sales, joint ventures and financing in Northern New Jersey, Fairfield County, Conn., and Long Island and Westchester County, N.Y. It has completed more than $13.6 billion in transactions since 2000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two-story building is leased through 2020 by Barr Pharmaceuticals and is currently fully occupied by sublessor Medco Health Services, Inc. Completed in 1966, it sits on 35 acres and underwent an $8.5 million renovation in 2007. <\/p>\n","protected":false},"author":936,"featured_media":1004021278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,21747],"tags":[],"class_list":["post-1004021277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cushman &amp; Wakefield Spearheads 142,500 SF Office Sale in N.J. - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-spearheads-142500-sf-office-sale-in-n-j\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cushman &amp; Wakefield Spearheads 142,500 SF Office Sale in N.J.\" \/>\n<meta property=\"og:description\" content=\"The two-story building is leased through 2020 by Barr Pharmaceuticals and is currently fully occupied by sublessor Medco Health Services, Inc. Completed in 1966, it sits on 35 acres and underwent an $8.5 million renovation in 2007.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-spearheads-142500-sf-office-sale-in-n-j\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2010-06-29T18:14:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-02T19:57:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/225-summit-Avenue.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1800\" \/>\n\t<meta property=\"og:image:height\" content=\"1205\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushman-wakefield-spearheads-142500-sf-office-sale-in-n-j\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushman-wakefield-spearheads-142500-sf-office-sale-in-n-j\\\/\"},\"author\":{\"name\":\"Allison Landa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"headline\":\"Cushman &amp; 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