CBRE Group Inc. has brokered the sale of a two-year-old, 156,256-square-foot industrial building in Teterboro, the real estate services firm said.
Representing the seller, Catellus Development Corp., CBRE negotiated the sale of 1 Catherine St. to Duke Realty. Built in 2015, the property is fully occupied by Lindenmeyr Munroe, a family-owned and -operated paper and stacking distributer in the United States.
Terms were not disclosed.
Brian Fiumara, Michael Hines, Brad Ruppel and Lauren Dawicki, along with Jack Fraker of CBRE National Partners, handled the assignment for CBRE.
The brokers noted that 1 Catherine St. sits in the Meadowlands industrial submarket, just minutes from interstates 80 and 95 and less than 15 miles from New York City.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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.
