CBRE’s $240M Surge in Daily Trading Volume Climbs to 414th Rank as Stock Gains 0.54% on Luxury Property Sale

CBRE Group (CBRE) closed on August 20 with a 0.54% gain, outperforming broader market trends as its $240 million transaction volume surged 41.44% to $240 million, ranking it 414th in daily trading activity. The real estate services firm announced the $117 million sale of The James, a 240-unit luxury multifamily property in Park Ridge, New Jersey. The asset features high-end amenities including co-working spaces, a fitness center with Precor equipment, and 18,000 square feet of ground-floor retail. Located adjacent to the Park Ridge train station, the property serves affluent Bergen County residents with access to Hoboken and Manhattan transit hubs.

The transaction, facilitated by CBRE's institutional properties and investment banking teams, marks the second major disposition for Veris Residential this month following the $85 million sale of Signature Place in Morris Plains. Veris acquired The James in 2022 for $130 million as part of its strategy to streamline its portfolio. CBRE highlighted the property’s 96% occupancy rate and strategic positioning in a suburb rated “A” by Niche.com for education and income levels. The sale adds to CBRE’s recent momentum in New Jersey’s multifamily market, where it is marketing additional properties across Secaucus, Fair Lawn, and Newark.

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