Russo Development & PGIM Acquire Mahwah Development Site From TD Bank For $17.5M

Russo Development and PGIM have acquired a development site in Mahwah for $17,500,000. The property, located at 1000 MacArthur Blvd, is a development site with a building square footage (BSF) of 200,000. The price per building square footage (PPBSF) amounts to $88. The seller in this transaction was TD Bank.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $17,500,000
• Address: 1000 MacArthur Blvd
• Market: Mahwah
• BSF: 200,000
• PPBSF: $88
• Buyer: Russo Development & PGIM
• Seller: TD Bank
• Brokers: Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Rich Gatto, Fahri Ozturk, Travis Langer, Zach McHale, Matthew Saker & Patrick Cavanagh - CBRE

The deal was facilitated by brokers Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Rich Gatto, Fahri Ozturk, Travis Langer, Zach McHale, Matthew Saker, and Patrick Cavanagh, all from CBRE. Their expert representation played a crucial role in finalizing the transaction.