4B — July 11 - 24, 2014 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N ew J ersey
Automatic Switch Co. acquires 250,589 s/f office building JLL sells 160 Park Ave. for Columbia Property Trust
LORHAM PARK, NJ — JLL has completed the sale of 160 Park Ave. in Florham Park for Columbia Property Trust Inc. Automatic Switch Co., an Emerson company that manufacturers power transfer switches, bought the Class A, 250,589 s/f commercial office building for an undisclosed amount. The seller, Columbia Prop- erty Trust, was represented by JonathanMeisel , manag- ing director; Dennis McCon- nell , senior vice president; and Dan Spero , associate, all with JLL. The tenant, Automatic Switch, was rep- F
160 Park Avenue, Florham Park, NJ
resented by Curt Stanton , principal, with Paine/Wetzel TCN Worldwide in Chicago in conjunction with Chris-
topher Kinum , executive director, and Jules Nissim , senior director, with Cush- man & Wakefield of New Jersey Inc. “Previously occupied by ATT Shannon Labs, 160 Park Avenue had for years quietly served as a crucible of incred- ible telecommunications dis- coveries and ground-breaking mobile communications in- novations,” said Meisel. “We knew the facility offered an ideal fit for Automatic Switch and worked closely with the owner to highlight the build- ing’s potential to the prospec- tive buyer. We brought in architectural firm Gensler to design a virtual fly-through to show what the building could look like. JLL’s project and development services team created a presentation that clearly broke down how much Automatic Switch could save by relocating to 160 Park Avenue compared with other similar properties.” The three-story 160 Park Ave., previously known as Building 103 at 180 Park Ave., is located at the intersection of Park Ave. and Florham Park Rd. The office property lies within The Green at Flo- rham Park, a 268-acre master planned development on the site of the former ExxonMo- bil Research Center on Park Ave.in Florham Park. The building will be renovated to Automatic Switch’s stan- dards and currently features redundant utilities, a 125-seat auditorium, breakout areas for occupants to congregate, a full-service cafeteria and a fitness center. Automatic Switch is relocat- ing to 160 Park Ave. from the 400,000 s/f 50 Hanover Rd. in Florham Park. The manufac- turing company had occupied the facility for approximately 80 years and will move its operations to its new location over the next few years. n
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