Building proves irresistible to ING.

A 403,000 s/f warehouse, data center and retail building at 275 Hartz Way in the Meadowlands has traded hands for an undisclosed price, announced Cushman & Wakefield's Metropolitan Area Capital Markets Group.

ING Clarion Partners purchased the property from a partnership involving Investcorp and Lincoln Equities. The modernized, mixed-use property is 100 percent leased.

"This transaction shows that institutional investors continue to seek opportunities to put money into this area," said Jose Cruz, a senior director with the Metropolitan Area Capital Markets Group. "Yet with virtually no new construction and a lack of quality industrial product on the market today, 275 Hartz Way presented a unique opportunity to purchase an improved Class A industrial building. ING Clarion has acquired an asset that will provide a great return with outstanding cash yields."

Cushman & Wakefield's Metropolitan Area Capital Markets 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. The team has completed more than $7 billion worth of transactions during the past decade. For the past three years, this included more than $1 billion in transactions annually.