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| 1111 Durham Avenue Office Building on border of South Plainfield, NJ and Edison, NJ |
FLORHAM PARK, NJ - HFF announced today that it has closed
the sale of 1111 Durham Avenue, a 236,710-square-foot office building
situated on 34.5 acres straddling the border of South Plainfield and Edison,
New Jersey.
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| Jose Cruz |
HFF marketed the property on behalf of the seller, Piedmont
Office Realty Trust. M&M Realty
Partners purchased the property with plans to reposition it.
1111 Durham Avenue is located along Interstate 287 at exit
four, less than five miles from Route 1, the Garden State Parkway and Interstate
95. The three-story office building,
built in 1975, was previously occupied by Motorola and Prudential.
The property
features a large cafeteria, fitness center, data center, office mezzanine,
helipad, tennis courts, volleyball courts and softball field.
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| Andrew Scandalios |
The HFF investment sales team representing the seller was
led by senior managing directors Jose Cruz and Andrew Scandalios,
managing directors Kevin O’Hearn and Jeffrey Julien and associate
director Michael Oliver and associate Marc Duval.
“The buyer will be looking at all options to maximize value
at the property. They have acquired a
great value add opportunity in a stable market,” stated Cruz.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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