The industrial property located at 10 Cliffside Dr in Cedar Grove has been sold in a recent transaction. The property spans 145,000 square feet and was sold for a price of $34,000,000, equating to a price per square foot of $234. The buyer of the property is MAG Capital, while the seller is Contract Filling, Inc.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $34,000,000
• Address: 10 Cliffside Dr
• Market: Cedar Grove

The deal was facilitated by Bryan Huber, Michael Soleimani, and Justin Audette from SAB Capital acting as the brokers representing all parties involved in the transaction. SAB Capital successfully closed a long-term industrial sale-leaseback concurrent to new shareholders recapitalizing the tenant's business operation. This highlights the strategy of utilizing rent multiple arbitrage in the SLB capital markets to maximize shareholder value for privately held businesses undergoing a change of control transaction.