WHIPPANY, NJ—With Barclays Capital's $69 million acquisition of The Crossings at Jefferson Park in Whippany, Vision Real Estate Partners and Rubenstein Partners have completed a benchmark New Jersey suburban office campus transformation. Barclays—an anchor tenant at the 525,000-square-foot, class A property—purchased the asset this week.
In a joint venture partnership, Vision and Rubenstein purchased the Crossings property, 115 South Jefferson Road, in October 2012 from Toronto-based Brookfield Asset Management for about $25 million, according to Real Capital Analytics, a proprietary research database.
The firms immediately launched a multi-million-dollar revitalization and rebranding of the 65-acre campus, with a redesign specifically focused on promoting health, wellness, and sustainability.
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