CBRE completes sale for K-Line America.On behalf of K-Line Realty, a subsidiary of K-Line America, CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. recently completed the disposition of 535 Mountain Ave., its 145,874 s/f former headquarters facility in New Providence New Providence, city, United States New Providence, borough (1990 pop. 11,439), Union co., NE N.J.; settled c.1720, set off and inc. 1899. It is largely residential but has some light industry. Roses and fruit are grown there commercially. . CBRE CBRE CB Richard Ellis (real-estate firm) CBRE Chemical, Biological, Radiological and Explosive CBRE Component-Based Reliability Estimation CBRE Coldwell Banker Richard Ellis (Boston, MA) executive vice president Jeffrey Babikian and senior vice president Nicholas Nemeth, in conjunction with vice chairman Jeffrey Dunne, represented K-Line Realty in this $20 million transaction. CBRE vice president Scott Belfer secured the buyer, Edison-based RCC RCC - An extensible language. Real Estate Holdings, for this property. "CBRE is pleased to have represented K-Line in the disposition of its former headquarters facility," said Babikian. "This surplus asset is going to become a valuable component of RCC's expanding portfolio in what is considered to be one of New Jersey's premier headquarters destination locations--the Route 78 Corridor." "This sale was an advantageous acquisition for RCC," commented Belfer. "Located across from Lucent's headquarters facility in a 20-acre campus setting, the property is a smart investment with strong upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar ." Currently, the entire 145,874 s/f at 535 Mountain Avenue is available for lease. CBRE will handle the leasing assignment for RCC Real Estate Holdings. Located in a corporate park setting, 535 Mountain features a large cafeteria, fully equipped fitness room, large floor plates, and easy access to Route 78. |
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