The buildings are owned by the San Francisco-based McMorgan & Co.'s McMorgan Institutional Real Estate Fund I. As reported by GlobeSt.com, Miref Bedminster LLC, as the entity is also known, bought the property in January from Bedminster LLC, a local group, for a number in the $40-million range. Prior to that, it had been in the hands of the Gale Co.
Situated on 18 acres at 500/550 Hills Dr., the Offices at Bedminster's current availability is just more than 15,000 sf, and it's listed with an asking rent of $30 per sf for three- to five-year terms. Kwartler Associates is the on-site property manager and co-broker, and current tenants include Abbott Labs, AGL Resources, Celanese, EDS and Sprint.
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