11-Building portfolio sold.

Cushman & Wakefield, Inc.'s Metropolitan Area Capital Markets Group in East Rutherford has orchestrated an 11-building, 749,762 s/f New Jersey portfolio sale.

Marking its continued expansion in the Garden State, High Street Equity Advisors acquired the assets for an undisclosed price.

The properties include seven buildings totaling 368,863 s/f in Allendale Park, Allendale; two buildings totaling 176,459 square feet on Apgar Road in Franklin Township; and 300 Columbus Circle and 400 Raritan Center Parkway, totaling 204,440 square feet, in Raritan Center, Edison. The Metropolitan Area Capital Markets Group also had been involved in the owner's initial purchases of these assets.

"The owner acquired these well-located industrial buildings at different times during the past decade," noted Cushman & Wakefield's Gary Gabriel, who handled the transaction with Metropolitan Area Capital Markets team members Andrew Merin, David Bernhaut and Jose Cruz. "This was a perfect opportunity for the firm to capitalize on the value they had since created at each property."

According to Gabriel, the successful close of the portfolio sale demonstrates the continued market for quality properties despite current, challenging capital markets conditions. "We went out to a select list with this offering," he noted. "In this market, it is very important to choose your buyer very carefully as the availability and cost of financing has changed significantly. High Street did a flawless job of executing on the acquisition of this portfolio."