Cushman & Wakefield Arranges Acquisition of 135,000-Square-Foot Industrial Building
Full-Building Tenant Hudson News Now Owns the Parsippany Facility
Parsippany, NJ, January 22, 2016 (Newswire.com) - Cushman & Wakefield has orchestrated the acquisition of 701-705 Jefferson Road, an industrial facility in Parsippany, by Hudson News Distributors. The buyer was represented by Bonni Heller, East Rutherford, N.J.-based associate director for the commercial real estate services firm. Seller Jofra Realty was represented by Scott Perkins of NAI Hanson.
Prior to the acquisition, Hudson News, an operator of airport newsstands, was a full-building tenant of the property. The acquisition caps a process that began in 2013 when Heller, who has represented the company’s real estate interests for more than two decades, arranged the lease at 701-705 Jefferson Road, a transaction that marked the relocation of Hudson News’ wholesale distribution headquarters to the site from North Bergen, N.J. Heller simultaneously teamed with colleagues Richard Baumstein, and Cushman & Wakefield Metropolitan Area Capital Markets Group team members Andrew Merin and Gary Gabriel – all based in the firm’s East Rutherford, N.J., office, in the sale of the former location.
“The Jefferson Road property was a perfect fit for Hudson News’ new, streamlined operations, providing the ability to operate on a 24/7 basis,” said Heller. “When the opportunity to acquire the property arose, it made perfect sense for the company to come full circle and purchase it.”
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.