PARSIPPANY, NJ-Ten Waterview Blvd., an award-winning 208,601-sf class A office building here has a new owner. In a deal that was orchestrated by Cushman & Wakefield, McMorgan & Co., the San Francisco-based investment management services firm, has acquired the building and its 18.6-acre site on behalf of one of its real estate investment funds.

The seller was TIAA-CREF. The sale price was not released, but sources say the asset likely traded for a number in the $40 million range. The deal follows by a year the completion of a major makeover of the asset, a project completed in 2006 that resulted in 10 Waterview Blvd. picking up BOMA New Jersey's The Office Building of the Year Award. And the building's new owner has turned the management and leasing assignment over to Lincoln Equities Group's Linque Management Co. Inc., which has its Garden State office in Rutherford.

“This is a premier office address,” says Lincoln Equities Group EVP Joel Bergstein. “We're confident that this property, which is currently 58% occupied, offers tenants an outstanding leasing opportunity.”