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News Release: Just Closed – Spectra Labs (Rockleigh, N.J.)

Capital Markets | Healthcare & Life Sciences

Just Closed

100% Net-Leased Life Science Facility with Investment Grade Tenancy (Moody’s ‘Baa3’)

CBRE

Transaction Highlights

Date Closed 06/08/2022

Size 204,495 SF

Occupancy 100%

Spectra Labs

CBRE U.S. Healthcare and Life Sciences Capital Markets is pleased to announce the sale of Spectra Labs (the “Property”) located in Rockleigh, New Jersey, to Big Sky Medical. Lee Asher, Jordan Selbiger, Cole Reethof, Josiah Gunter and Zack Holderman partnered with Jeremy Neuer and Jeffrey Dunne in the New Jersey market to act as the exclusive advisors to the Seller, Spruce Healthcare Group.

Spectra Labs is a 204,495 square foot mission critical office/life science facility that is 100% leased to Spectra Laboratories. The facility is 54% comprised of lab space which serves as a testing facility for the Eastern half of the United States.

The Property was substantially redeveloped between 2013-2015 with $49.7 million of capital improvements, of which $42.2 million was invested by the Tenant, to outfit the building for their specialized use. Improvements included exterior facade and site work, modernization and installation of new mechanical systems and infrastructure, state-of-the-art lab and testing facilities and fully redundant power. Located in New Jersey, Spectra Labs benefits from a pipeline of labor talent within a state with the highest concentration of scientist and engineers in the world.
For more information, or if we can help with your healthcare real estate holdings, please contact us.

For more information, please contact:

Lee Asher
Vice Chairman
Investment Properties
+1 404 504 5965

Jordan Selbiger
Senior Director
Investment Properties
+1 404 923 1259

Cole Reethof
Associate Director
Investment Properties
+1 404 504 7864

Josiah Gunter
Associate Director
Investment Properties
+1 404 504 7936

Zack Holderman
Senior Vice President
Debt & Structured Finance
+1 858 337 9412

Jeremy Neuer
Executive Vice President
Capital Markets | New Jersey
+1 732 509 2888

Jeffrey Dunne
Vice Chairman
Capital Markets | New Jersey
+1 201 712 5841

cbre.com/cm-healthcare

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