Real Estate Journal — New Jersey — August 11 - 24, 2017 — 15B


M id A tlAntic

N ew J ersey

hiPPANy, NJ — Newmark Associ- ates announces the Tuckman represents owner, Douglas Properties Newmark Associates brokers $34 million in Áe[ space sale in Morris County W

sale of three Wh i p p a n y i ndu s t r i a l space prop- erties owned by Douglas Properties, LLC . Nan- cy stanton- Tu c kma n ,

Nancy Stanton- Tuckman

senior vice president at New- mark Associates was the agent representing the owner, Douglas Properties. The three properties are located in a multi-tenant business park with the larg- est property consisting of a 200,000 s/f complex comprised of four buildings at 9 Whip- pany Rd. The complex is at ap- proximately 80% occupancy. The other two properties included in the sale are locat- ed at 622-628 Rte. 10 West, and joined in the Whippany Rd. sale as part of a 1031 Exchange. The side-by-side buildings at 622-628 Rte. 10 West, occupying 62,000 and 30,000 s/f respectively, also include office and warehouse spaces. While mostly occu- pied, the buildings have two vacancies still available for lease and are well-suited for lab, storage and light manu- facturing. All three proper- ties have easy access to Rtes. 287, 80, 24, 280 and 78. Newmark Associates CRE, located in Cedar Knolls, New Jersey, has earned recogni- tion as one of the top real estate brokerage companies by NJBIZ magazine, and the CoStar Commercial Real Estate organization. Special- izing in lease and sales trans- actions of office, industrial, retail, land, healthcare and mixed-use properties, New- mark Associates customers range from regional, entre- preneurial firms to Fortune 500 companies. Certified as a woman-owned business by the Women’s Business Enterprise National Council, Newmark Associates is reg- istered as a Supplier Diver- sity provider with corporate members. n

622-628 Rte. 10 West

7 East Frederick Place, Suite 500, Cedar Knolls, New Jersey 07927 | 973.884.4444 | NewmarkRealEstate.com

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