615-625-Main-Passaic-CBRE

CBRE Group Arranges $8.4M Sale of New Jersey Office/Retail Property

by Amy Works

PASSAIC, N.J. — CBRE Group Inc. has arranged the sale of an office and retail property located at 615-625 Main Ave. in Passaic. The 65,000-square-foot building sold for $8.4 million. The building, which includes a two-story parking garage, underwent a $5 million capital improvements program in 2007. Current tenants include Valley National Bank, which has been in the location for more than 40 years. Charles Berger and Elli Klapper of CBRE Tri-State Investments Properties represented the seller and procured the buyer, a long-time CBRE client, in the deal.

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