8B — June 12 - 25, 2015 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N orthern N ew J ersey
Cushman & Wakefield represents the buyer in sale of 44,596 s/f NAI James E. Hanson closes sale of twin office building complex in Parsippany
P ARSIPPANY, NJ — NAI Hanson , a leading New Jersey- based commercial real estate firm, announced that it has arranged the sale of the 44,596 s/f, class-A Boulevard Common office complex at 1140-1160 Parsippany Blvd. in Parsippany. The buyer, enterprise technology solu- tions provider Micro Strat- egies, Inc. will occupy the complex’s two buildings after relocating from Mt. Olive, New Jersey. NAI Hanson senior vice president Josh Levering,
ing signage and its conve- nient location -- less than one mile from Routes 287, 80 and 46, which enables direct driving access from every direction in Northern New Jersey. Levering also noted that this transaction reflects an emerging trend of companies pursuing opportunities to own the office facilities they occupy. “We’re seeing increased interest among companies to purchase buildings they intend to occupy,” Levering said. “Buildings as well- maintained as Boulevard Commons have become at- tractive investment assets especially for growing com- panies that want to make long-term commitments the region. Property ownership is an expression that com- panies are committed long term and here to stay. Own- ership indicates growth and prosperity with a desire to contribute to civic life in the community they locate.” S. HACKENSACK, NJ — NAI Hanson announced that it has facilitated the lease of 13,000 s/f at 60 Saddle River Avenue in South Hacken- sack. Senior vice presidents Jeff DeMagistris, SIOR and Tom Vetter, SIOR , of NAI Hanson, marketed the space andmanaged the transaction on behalf of the industrial property’s owner, Safer De- velopment andManagement, Inc. The new tenant, Durkan Fencing Academy, leased the space in order to take advan- tage of the facility’s prime location, approximately two miles from the Garden State Parkway and Interstate 80. The company was also at- tracted to the space’s ample parking. “We worked closely with our client to identify the various types of uses for this versatile space,” DeMagistris said. “The ideal location be- tween I-80 and the Garden State Parkway allows the academy to draw students from all parts of Northern New Jersey. The available parking as well as the in- terior square footage will comfortably support com- petitive fencing and enable the academy to continue its growth.” n
SIOR and executive manag- ing director Michael Wal- ters , SIOR marketed the twin-building campus on behalf of the property’s previ- ous owner HGF Parsippany Blvd, LLC. The buyer was represented by Cushman and Wakefield . According to Levering, Mi- cro Strategies was impressed with the recently renovated complex’s overall package of offerings, including its con- dition and state-of-the-art infrastructure, its window lines, the opportunity to brand through visible build-
1140-1160 Parsippany Blvd.
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Gebroe-Hammer Associates
Record Q1 2015! 37 Closings • 1,944 Units • $227+ Million in Sales
The Tri-State Region’s dominant brokerage firm specializing in the sale of multi-family, retail, and commercial investment properties for private investors, REITS, and other institutional clients.
Gebroe-Hammer Associates 2 West Northfield Road • Livingston, NJ, 07039 Tel: 973.994.4500 • Fax: 973.994.9752 www.gebroehammer.com
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