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Wellsford Buys Former Channel Homes Center Property

WHIPPANY, NJ-Defunct home improvement chain's vacant headquarters will be converted into high-tech office space.

By Eric Peterson | Updated on September 07, 2000

Wellsford Commercial Properties Trust, based in Chatham, NJ, has closed on the former Channel Home Centers facility in Whippany, NJ. The seller was the L.R.F. Slater Co.

WCPT is planning to reposition the 150,000-sf building, situated on 15 acres adjacent to an I-287 interchange, as a high-tech office building. The company hopes to have approvals in place and begin construction by early next year.

The project is being modeled after WCPT’s repositioning of the Morris Technology Center in Parsippany, NJ. That was fashioned from an abandoned facility and is currently fully leased.

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