S HOPPING C ENTERS N EW J ERSEY
17A — April 13 - 26, 2012 — New Jersey — Mid Atlantic Real Estate Journal
www.marejournal.com
LAINSBORO, NJ — Marcus & Millichap Real Estate Investment Senior VP Sgambati & associates David and Alan Cafiero, rep the seller Marcus & Millichap arrange $3.4 million sale of 13,500 s/f Day School P president/regional manager of the firm’s New Jersey office. The asset commanded a sales price of $3,400,000.
School is located at 72 Gro- vers Mill Road. It is a beauti- ful, multi-building campus that houses clean, modern and well located buildings with total s/f of 13,500. The property is occupied by a strong tenant that operates over 180 childcare centers in the US with revenue in ex- cess of $200 million annually. Ideal property for an investor looking for a 1031 exchange, or a real estate investment with assured income which increases annually for 15 years. ■ cafe, a fitness center, walking trails, picnic areas, and abun- dant parking. Due to a recent zoning change, Convergence can now offer stand-alone data center facilities. Historically the site has housed critical data and telecommunication infrastruc- ture, including office space and disaster recovery. The new zoning law allows data center as a fully approved use for existing buildings at the campus, as well as a proposed build-to-suit opportunity at the site of 200,000+ s/f specifically designed for data center, coloca- tion and disaster recovery uses. Convergence can offer power of up to 200 watts per IT s/f. Additionally, Brookfield has developed a green and sus- tainable master plan for the campus that includes: • Following LEED standards and guidelines for existing building and interior projects • HVAC modernization plan • Lighting modernization plan • Renewable standard for the purchase of electricity • Building thermal envelope upgrades for windows, roofing, insulation and sealants • Construction of roof top and parking solar arrays, if available. ■
Services, the nation’s larg- est Real Es- tate Invest- ment Servic- es firm, has announced the sale of Montessori Country Day S c h o o l , a
David Cafiero – an associ- ate, Alan Cafiero – senior associate and Ben Sgambati - vice president Investments, investment specialists inMar- cus & Millichap’s New Jersey office, represented the prop- erty on behalf of the seller, a private investor. They also secured and represented the buyer, a limited liability com- pany. Montessori Country Day
Michael J. Fasano
13,500 s/f net leased property located in Plainsboro, accord- ing to Michael J. Fasano, vice
72 Grovers Mill Road
Brookfield completes extensive lobby renovation at 200 Convergence Way
WHIPPANY, NJ — Brook- field announced that it has completed an extensive lobby renovation at 200 Convergence Way (formerly, Building C), which is part of its premier 5-building, 650,000 s/f, Conver- gence multi-tenant technology and office campus in Whip- pany. Designed by Jarmel Kizel Architects and Engineers, Inc., the upgrades involved modern- izing and expanding the lobby by 30 percent and opening up the two-story atrium. The two ground-floor office suites now have direct access from the lobby, with onsite management and leasing office. A reception area and soft seating were added and quality finishes were used to create a classic and sophisticated atmosphere typically found in Class A sub- urban office building lobbies. “The building was originally constructed in the late 1990’s for Bear Stearns to use for administrative offices so the lobby was designed for single- tenant use and not up to head- quarters quality for this area,” stated Michelle Berliner, Vice President of Brookfield’s Real Estate Opportunity Group. “This renovation reflects the image we want to project of Convergence as the premier
150,000 s/f of contiguous office or mission-critical users. While the buildings and infrastruc- ture are designed to accom- modate office, mission criti- cal, and high-density users, Convergence can also accom- modate lab, medical, financial services, insurance, legal, and disaster recovery uses. Within the heart of Morris Lobby of 200 Convergence Way
Class A office campus in this marketplace. Convergence is strongly positioned to address the needs of corporate office and mission-critical users. This building is now ideal for a corporate headquarters or for multiple tenants.” Convergence includes var- ious-sized spaces that can accommodate from 5,000 to
County’s corporate corridor, Convergence has spacious 37,500 s/f floor plates in the various 150,000 s/f freestand- ing buildings on a 67-acre landscaped setting. The site provides best-in-class, mission- critical infrastructure that remains unmatched in New Jersey. On-site amenities in- clude a sub-station, cafeteria,
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