4B — July 17 - 30, 2015 — New Jersey — M id A tlantic
Real Estate Journal
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N ew J ersey
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Vaynberg, Trevisan & Sherman arrange purchase C&W inks HQ acquisition for Micro Strategies, Inc.
ARSIPPANY, NJ — Commercial real estate services firm Cushman & Wakefield recently orches- trated the acquisition of 1140 and 1160 Parsippany Blvd. in Parsippany, on behalf of long- time Morris County-based Micro Strategies, Inc. In a sig- nificant expansion move, the technology solutions company has relocated its headquarters to the two-building, 46,000 s/f property from locations in Denville and Rockaway. Cushman & Wakefield’s Slava Vaynberg , Marc Trevisan and David Sher- P
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1140 Parsippany Blvd.
man arranged the off-market purchase from Hampshire Companies . The team also arranged the sale of Micro Strategies’ 10,000 s/f Denville property at 85 Bloomfield Ave. to a local user group. “Our team engaged in a comprehensive market search and uncovered this off-market opportunity for Micro Strate- gies. 1140 & 1160 Parsippany Blvd. was a recently renovated, well-run asset that offered Micro Strategies an excellent investment opportunity while allowing Micro Strategies to consolidate and accommodate their future growth needs. “This property turned out to be an ideal fit for Micro Strat- egies given its location with direct highway access, brand- ing opportunity and room for growth,” Vaynberg said. According to Cushman & Wakefield’s 2015 (Q1) Office Marketbeat for New Jersey, this transaction is further evidence of the robust demand within Morris County that has buoyed Northern New Jersey’s strong leasing activ- ity since the end of 2014. It also exemplifies the type of amenity-rich, mixed-use office parks in non-CBD markets that, according to Cushman & Wakefield’s 2015-2017 U.S. Office Forecast, will continue to drawmajor corporate reloca- tions and expansions over the next few years. “Our move to Parsippany al- lows us to be centrally located to better serve our clients, recruit talent and significantly expand our innovation cen- ter with a larger testing lab, additional next-gen product installations and demos and educational training center,” said Micro Strategies’ Anthony Bongiovanni, president and CEO. n
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