Commercial real estate services firm Cushman & Wakefield has arranged the $83 million sale of bookseller Barnes & Noble’s primary distribution center, a 1.1 million-square-foot facility situated on 73 acres in Monroe Township, N.J.
The seller, a pension fund advisory firm, was represented by Andrew Merin, Gary Gabriel, David Bernhaut and Brian Whitmer of Cushman & Wakefield’s Metropolitan Area Capital Markets Group. The buyer, CenterPoint Properties, was also procured by Cushman & Wakefield.
It is the largest leased industrial property sale in New Jersey in at least a dozen years, Gabriel said in a written statement.
“The tenant, whose lease runs through 2020, invested approximately $100 million into the building,” Merin added.