KING OF PRUSSIA, PA—Kairos has been reaping the benefit of the somewhat contrarian investments it made in suburban office product at a time when others were shunning the asset class.
FRANKLIN TOWNSHIP, NJ—Jordan Zimmel first presented 655 Howard Avenue to Denholtz as an investment opportunity about two years ago. At that time, the building, a former manufacturing site of Acme Tube, was bank-owned as a result of foreclosure and had been vacant for more than a decade.
FAIRFIELD, NJ—“There's intense interest in Fairfield right now, to a degree that's rather uncommon,” says Robert Nathin of Sheldon Gross Realty. “Multiple factors are involved, including limited commercial inventory, and both Route 80 and Route 46 run right through the town. In addition, Fairfield is just a 40-minute drive or one-hour bus trip from midtown Manhattan.”
SHORT HILLS AND MADISON, NJ—The $368 million sale, brokered by Holliday Fenoglio Fowler, represents one of the largest office portfolios ever to trade in the state.
BLOOMFIELD, NJ—Prism, which is headquartered onsite at 200 Broadacres Drive, will continue as BroadAcre Office Parks' exclusive leasing and onsite managing agent on behalf of P3RE.
MONTVALE, NJ—The Coining Building, a single-story 60,000 square foot class A office building and high-tech manufacturing facility in Montvale, Bergen County, NJ, sold for $12.5 million. Island View Crossing, a 180,000 square foot class A office building in Bristol, Bucks County, PA, traded for $20 million in the deal.
TOTOWA, NJ—Sitex recently completed a major overhaul of the site. Improvements include a new roof, HVAC equipment, warehouse lighting, sprinkler systems, offices, bathrooms and parking lot.