CB Richard Ellis, New Jersey's largest commercial real estate brokerage firm, recently completed the sale of 4-01 Banta Place, an 18,000-square-foot industrial building in Fair Lawn. CB Richard Ellis' Vice President Dorothy Chuang, CCIM, who leads CBRE's Greater China Desk in the Tri-State region, represented the buyer, a Chinese firm, and First Vice President Mark Tannen represented the seller, Weidner Family Partnership, in this all-cash transaction.
"This transaction was representative of how a successful sale can culminate from the expertise and collaboration between CB Richard Ellis' Greater China Desk and a northern New Jersey industrial specialist," said Chuang. "The sale of 4-01 Banta Place took only three months from the first tour to the closing of the sale."
At the time of the sale, 4-01 Banta Place was vacant. The buyer plans to use the facility for its daily operations.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2007 revenue). With over 29,000 employees, the Company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate offices). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis is the only commercial real estate services company named one of the 50 "best in class" companies by BusinessWeek, and was also named one of the 100 fastest growing companies by Fortune. Please visit our Web site at www.cbre.com
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