SHORT HILLS, NJ—The Birch Group, a privately-held commercial real estate investor, owner and operator, recently revealed the $255-million acquisition of a prominent four-building portfolio in Short Hills, NJ. The off-market acquisition comes on the heels of the company's recent $77-million portfolio purchase in Morristown, and further cements its focus on acquiring prime value-add office assets across the suburbs of Northern NJ.
The 843,300-square-foot portfolio comprises four class A office buildings located at 51, 101, 103 and 150 JFK Parkway in the affluent Short Hills submarket, widely recognized as one of the most prestigious and iconic suburban office regions in New Jersey.
Cushman & Wakefield represented Mack-Cali Realty Corp., the seller in the transaction, and is also being retained by the Birch Group as the exclusive office leasing agent for the properties. According to a release from the seller, the transaction releases approximately $100 million of net proceeds, after retirement of financing and transaction costs, which is expected to be used to pay down the company's unsecured corporate debt during the second quarter of 2021.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
