The firm, which developed the entire 1.5 million-square-foot complex in the early 2000s, regains full ownership and management with the transaction.

The transaction is the largest single tenant deal in the state since 2016, according to CBRE.

The acquisition was one of six transactions for the firm in the fourth quarter of 2021 with a total value of $780 million.

BHI's Commercial Real Estate Group supplied and announced the financing.

The president of Coldwell Banker Realty in New Jersey discusses the factors that drove the residential market over the past two years, how realtors adapted to the challenges of selling homes during a deadly global pandemic and where the Garden State is headed in 2022.

Director of Client Services Monica Walsh found the new tenant for the former headquarters of HFM Investment Advisors LLC.

The 4,560-square-foot building is fully leased to a national bank.

WCRE represented the buyer and the seller in the sale of the 25,000-square-foot property.

“We never really considered expanding to New Jersey," said owner Danny Young, "but when our broker brought us to Journal Square, we thought it was an outstanding location. It’s a thriving commercial and residential neighborhood and the Journal Squared building is very upscale. We believe our concept will be a great product and service for the area.”

Darren Lizzack and Randy Horning represented the landlord; the firm has exclusively handled leasing at the building since 2018.

According to Lee & Associates - New Jersey, which represented the seller, the site will be redeveloped into modern warehouse space.

CBRE announced and secured the funding for the luxury residential building on behalf of Veris Residential and its joint venture partner.