For CBRE, the assignment is being handled by vice chairman Patrick Murphy, SVP Sam Buckley, EVP Peter Eppie, senior managing director Ray Sohmer, SVP Remy DeVarenne and associates Gregg Baillie and Brendan McBride. An affiliate of the Yardley, PA-based BPG acquired the sprawling asset two years ago after BASF downsized and located to two smaller North Jersey locations, leaving the campus completely vacant.
"Morris Crossroads is the largest block of class A space in the New York metropolitan area," says Murphy, in a statement. "It is ideal for mid- to large-sized companies that are seeking to relocate, reduce operating costs…."
Buckley says that "the property is extremely flexible and is suitable for an array of users, including office, education, hospital/conferencing, laboratory and even residential." The space is divisible to 40,000 sf, he notes.
The campus was built in phases for BASF between 1994 and 1998 at the intersection of I-80 and Routes 46 and 206. The property has been on the market for about 18 months and the hiring of CBRE marks an agency switch. The space is currently listed with an asking price of $24 per sf plus tenant electric for a term of 10 years.
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