The industrial development site located at 1000 MacArthur Blvd in Mahwah, NJ has been sold for $17,500,000. The property is situated in the Mahwah market and encompasses a site where a 200,000-square-foot building will be developed. The existing 60,000-square-foot structure on the property is scheduled for demolition in the coming days.

Summary of transaction details:

• Property Type: Industrial development site
• Transaction Amount: $17,500,000.00
• Address: 1000 MacArthur Blvd, Mahwah, NJ
• Market: Mahwah
• Seller: TD Bank
• Buyer: PGIM Inc
• Seller's Representative: Matthew Saker (CBRE)
• Broker Team: Jeffrey Dunne (CBRE), David Gavin (CBRE)

The transaction was facilitated by a team from CBRE, including Matthew Saker, Jeffrey Dunne, and David Gavin, who represented the seller, TD Bank. This team also played a role in securing PGIM Inc as the buyer, indicating a collaborative effort in negotiating the deal.