CBRE Group Negotiates Sale of Vacant Data Center in Teaneck

TEANECK, N.J. — CBRE Group Inc. has brokered the sale of a former data center, located at 1500 Queen Anne Road in Teaneck. The fully fenced, 55,000-square-foot center features three buildings and electric gates on more than three well-landscaped acres sold for an undisclosed sum. After being vacant for approximately eight years, the property will be repositioned as He’atid Yeshivat Day School, which is slated to open in January 2016. The repositioning will include rehabilitation of the existing buildings, construction of an additional floor to one building and the creation of 20 classrooms at the site. Elli Klapper, Charles Berger and Bill Hassan of CBRE represented both parties in the transaction. The names of the seller and buyer were not released.