10B — December 18 - January 14, 2020 — Northern New Jersey — M id A tlantic Real Estate Journal


N orthern NJ

154,820 s/f office building trades in Parsippany, NJ Mack-Cali Realty announces $12.75M sale of 7 Campus Dr. P

Heller and Geltzeiler represent tenant Avison Young arranges HQ lease for Prism Vision

ARS I PPANY , NJ — Mack-Cali Real- ty Corporation an- nounced the disposition of 7 Campus Dr., a 154,820 s/f office building in Parsippany, to Birch Group for $12.75M. “We have been deliberate and diligent in following through on our strategic suburban disposi- tion strategy and this is yet another example of the team’s continued work,” said Mary- Anne Gilmartin , Board Chair and Interim chief executive of- ficer of Mack-Cali. “Divesting non-core assets will enable us to refocus on our key priorities,

420 Mountain Ave.

7 Campus Dr.

FAIR LAWN, NJ —A team of brokers including David Knapel, Alex Rosenberg, Greg Sholom and David Cantor brokered a lease of 30,000 +/- s/f at 20-21 Waga- raw Rd. in Fair Lawn with Dynamic Productions, Inc., a production services provider for festivals, tours, concerts, live & virtual events. “The unit provides Dynamic Productions with a sizeable and affordable center fromwhich to store and transport their equipment. This Bergen County location puts them in an ideal position to access venues throughout the tri-state area,” said Kna- pel. Team Resources repre- sented both the landlord and tenant in this transaction. 20-21 Wagaraw Road is an Industrial complex spanning over 30 acres, totaling over 750,000 s/f known as Fair Lawn Industrial Park, owned and managed by The Silver- man Group . MAREJ “It was a pleasure work- ing with Prism Vision to find a new location for their headquarters. Our team of professionals relied on their exceptional knowledge of the market and was able to iden- tify fully-furnished space in a class A building and negotiate a complex deal,” said Heller. 420 Mountain Ave. is a class A, four-story corporate center ideally located in the highly sought-after I-78 Cor- ridor submarket of Northern NJ. MAREJ led by principal and manag- ing director Jeff Heller , and supported by senior vice pres- ident Steven Geltzeiler rep- resented the tenant, Prism Vision Group. The building’s owner, Signature Acquisi- tions, was represented in- house. Team Resources brokers 30,000 +/- s/f lease at 20-21 Wagaraw Rd. in Fair Lawn, NJ

BERKELEY HEIGHTS, NJ — Avison Young an- nounced the closing of a 36,544 s/f, headquarters lease for PrismVision Group, one of the country’s largest a The Avison Young team,

namely the repositioning of our Harborside office campus and paying down corporate debt.” This sale brings the year-to- date suburban office disposi- tions total to $270.35 million. “We have buyer activity on

every piece of our suburban portfolio and expect to con- tinue to execute additional sales in the coming months,” said Ricardo Cardoso , EVP and chief investment officer of Mack-Cali. MAREJ


We’re the largest independently-owned capital markets firm – known for our valued relationships and strong results. While you can count on us as your advocate, adviser, and ally, we are your partner long after closing. With our extensive network of capital sources, buyers and sellers, we can provide certainty of execution and protection of your investments in any market condition.


Vice President 973.944.5730 MARC NEVINS

Managing Director 973.944.5724 GARY COHEN


Made with FlippingBook flipbook maker