"The building [2 Gatehall Drive] wasn't on the market yet, but under contract to the partnership that owns it, and that helped facilitate this transaction," according to Trammell Crow SVP Frank Truesdell, who teamed with TC's Douglas Gaffney and Thomas Fischer to do the deal. The company's Northeast Metro operations are based in Chatham, NJ.
The property is owned by Two Gatehall Associates LLC, a Morgan Stanley, Gale & Wentworth real estate fund. Gale & Wentworth's Tim Conklin, Rick Genthe and David Welsh represented the owner.
Besides the space requirement, Champion, a home equity and custom mortgage lender, also wanted to stay near its home turf in Parsippany, and it had a parking requirement of more than 4.5 cars per 1,000 rentable sf.
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