Monday, December 2, 2024
HomeBusiness NewsInvestors acquire 228,000 sq. ft. office building on Park Avenue

Investors acquire 228,000 sq. ft. office building on Park Avenue

spot_img

FLORHAM PARK — A joint venture has acquired a 228,000-square-foot office building at 180 Park Avenue, under a newly announced deal by JLL’s New Jersey capital markets group.

The brokerage team represented the undisclosed seller in the transaction of the three-story complex off Route 24. Vision Properties and The Birch Group purchased the property for an undisclosed price, touting its location within a 268-acre master-planned development.

“This nonrecourse financing demonstrates there is still very attractive debt capital for best-in-class sponsors who have a proven track record, despite the market headwinds created by COVID,” he said in a prepared statement. “CBRE Global Investors did an outstanding job recognizing the merits to this financing and delivered a market-leading deal.”

spot_img
spot_img
spot_img
Frank Cahill
Frank Cahillhttps://www.frankcahill.com
Publisher of Parsippany Focus since 1989 and Morris Focus since January 1, 2019, both covering a wide range of events. Mr. Cahill serves as the Executive Board Member of the Parsippany Area Chamber of Commerce, Governor-Elect NJ District Kiwanis International and Chairman of the Parsippany-Troy Hills Economic Development Advisory Board.
RECENTLY POSTED
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img

Click on image to read magazine

spot_img
spot_img
Translate »