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Thursday, November 20, 2008 Industrial
As part of a 1031 exchange transaction, Lighthouse Real Estate Ventures, Inc. has purchased a 25-asset portfolio of industrial/flex buildings in New York and New Jersey for $209 million from Pleasantville, N.Y.-based Baker Properties. The deal was brokered by several CB Richard Ellis brokers including Jeff Dunne, Jeff Oram, Steven Bardsley and David Gavin of CBRE's New York Institutional Group, along with William Cuddy, Sean Cahill, Matthew O'Hare and Tom Mallaney. The portfolio contains 1.98 million square feet and has an aggregate occupancy rate of 93 percent. It is comprised of five properties in Morris Plains, N.J., 10 properties in Elmsford and Port Chester, N.Y., and 10 properties in Fairfield and New Haven, Conn. Dunne is the vice chairman of the NYIG, a 12-person team that specializes in New York and eastern second-tier cities. He was the Gale Company's Broker of the Year in 2002 and recently arranged the sale of a 148,131 square foot call center in Sergeant Bluff, Iowa to STAG Capital Partners. Oram, an associate of the NYIG, is the former CIO and vice president of corporate real estate for TSR Wireless LLC. He works on all asset classes of real estate; office, multi-family, retail and industrial. Size: 1.98 million square feet Filed Under: Industrial E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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