CBRE announced that it was number one in the suburban Tri-State area in the sales of office, multifamily and retail assets ($20M+).

CBRE Capital Markets closed 34 property sales in the region valued at approximately $1.5 billion in 2018. The 34 transactions are comprised of 19 office/industrial sales valued at $806 million, eight apartment sales valued at $554 million and seven retail sales valued at $175 million.

The 13-member team who specialize in the sale of investment properties in the 18-county suburban market surrounding New York City is led by Jeffrey Dunne and includes Jeremy Neuer, Steve Bardsley, Gene Pride, David Gavin and a strong support team of financial analysts, client service specialists and marketing professionals. The team services a prestigious client base of institutions, corporations, private investors, developers and REITs and has closed over $8.7 billion in property sales in all property types over the last five years.

“2018 was an exceptional year for our clients and our entire team is thrilled to have contributed to their success,” said Mr. Dunne, Vice Chairman, Capital Markets, Institutional Properties, CBRE.

“On the office side, we saw strong demand from investors for newly stabilized, high-profile office assets across the Tri-State area. Multifamily, both nationally and regionally, continued to be a highly desirable product type as demographic trends indicate new renter household formation is outpacing the availability of new housing. Given this macro condition of undersupplied housing, investment in apartments is a primarytarget for institutional, foreign and private investors. The market fundamentals for retail remain strong in our market given the high income, dense demographics throughout the region,” added Mr. Dunne.

Some of the notable sales completed in 2018 include:

Former Newsday Headquarters, Melville, N.Y.— $54.5 Million

Hartz Mountain purchased the 48.3-acre site and plans to develop approximately 800,000 sq. ft. of new, high-bay logistics space. This transaction marked Hartz Mountain’s entry into the Long Island market.

Park 80 West, Saddle Brook, N.J. — $115.5 Million

A premier office asset, repositioned to include one of the leading amenity packages in the market, locatedat the junction of Route 80 and the Garden State Parkway in the heart of Bergen Country, N.J.

Shippan Landing, Stamford, Conn.— $151 Million

Six-building office campus along Stamford, Connecticut’s waterfront that was recently ranked by Architectural Digest as #9 on their list of “23 Breathtaking Office Views from Around the World.”

3HQ, Melville, N.Y. – $69 Million

A 99 percent leased office building located along the prestigious Route 110 corridor and anchored by high credit tenants, including Northwell Health, Travelers and Santander Bank.

Country Club Plaza, Paramus, N.J. - $74 Million

Two building complex that featured long term leases with a strong tenant roster including Octapharma, Sony and Merrill Lynch.

Talleyrand Apartments, Tarrytown, N.Y.— $91 Million

A 300-unit Class A multifamily community uniquely located in an exceptional school district that offers value add potential by upgrading the existing apartment interiors and expanding amenities

Element One, Stamford, Conn.— $78.5 Million

A 182-unit newly constructed Class A community with exceptional design and finishes purchased as part of a 1031 exchange.

Crown Point Apartments, Danbury, Conn.— $108.5 Million

A 466-unit Class A multifamily community in affluent and highly educated northern Fairfield County with an unmatched amenity package and excellent regional transit options.

Festival Plaza, Edison, N.J.— $53 Million

A 99 percent leased, high-volume, retail center anchored by HMart, the premier Asian grocer which caters to the surrounding demographic.

1365 Post Road, Westport, Conn.— $28 Million

A prime retail location with long-term cashflow anchored by Balducci’s, a specialty grocer, and Ulta.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.