CBRE today announced that it has recently closed a combination of four sales transactions totaling $6.2 million. The buyers and the sellers in each of the transactions were all local private investors.

The CBRE team of Nat Gambuzza and Steve Mariani was responsible for representing the sellers in each of the sale transactions, which included 47 Raritan Avenue in Highland Park; Franklin Commons in Shrewsbury; Marion Plaza in West Milford; and 11 Middletown-Lincroft Road in Lincroft.

“These properties had been languishing in the market for a long timeprior to us taking over as exclusive sale agents,” said Mr. Gambuzza, who serves as senior vice president of CBRE and leads the eight-person New Jersey Investment Properties group. “By utilizing all of the tools available at CBRE, including market research, demographics and targeted investor reports, we were able to find the ideal buyers for each of the assets.”

Franklin Commons, a multi-tenant 14,713-sq.-ft. retail investment property located at 691-703 Broad Street in Shrewsbury, New Jersey, traded hands for approximately $2.3 million. The center is located a half-mile from The Grove, a popular mixed-use destination. CBRE’s Steven Winters assisted on the deal.

47 Raritan Avenue in Highland Park, New Jersey, an 11,000-sq.-ft. fully occupied office building with eight tenants, sold for approximately $1.8 million. In addition to the seller, Mr. Gambuzza and Mr. Mariani also acted on behalf of the buyer.

Marion Plaza, located at 16-22 Marshall Hill Road in West Milford, New Jersey, is a seven-tenant 7,000-sq.-ft. strip center comprised of five local, “mom-and-pop” shops and two apartments, that sold for $1.4 million. The fully occupied center boasts an incredibly stable tenant mix. In addition to the seller, the team of Mr. Gambuzza and Mr. Mariani represented the buyer in the transaction.

11 Middletown-Lincroft Road in Lincroft, New Jersey is a 5,911-sq.-ft. single-tenant investment property that sold vacant for $650,210. Along with the seller, Mr. Gambuzza and Mr. Mariani also acted on behalf of the buyer. They were assisted in the sale by CBRE’s Wesley Moore.

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.