PCCP, LLC and Mountain Development Corporation Form Joint Venture to Acquire and Reposition 10-Story Office Building in Secaucus, NJ

One Harmon Plaza, Secaucus, NJ

Secaucus, NJ – A joint venture of PCCP, LLC and Mountain Development Corp. (“MDC”) has acquired One Harmon Plaza, a 192,000-square-foot Class A office tower in Secaucus, NJ. 

One Harmon Plaza is a 42 percent leased, 10‐story office building that features efficient, 22,000-square-foot floor plates with panoramic views, an all‐black glass façade, and existing amenities that include structured parking and on‐site banking services.

Bill Martini

 The well located property is less than 5 miles from midtown Manhattan and offers jitney service to the Secaucus rail junction.

“We are excited to be partnering with Mountain Development, an experienced New Jersey-based owner and operator of office properties with over 30 years of proven success in the market.” said Kevin Chin, vice president with PCCP.  “One Harmon is a high quality, value-add asset that we are acquiring at an attractive basis relative to replacement cost and recent market sales.”

The joint venture plans to upgrade common areas and improve the property’s amenity base for tenants with the addition of a fitness center, free conference center and on‐site food service operated by a desirable local eatery.

“Our full amenity package, responsive property management and aggressive rental rates will make One Harmon Plaza the most attractive address for tenants looking in the Meadowlands,” said Bill Martini of Mountain Development Corp.

The Cushman and Wakefield Equity, Debt & Structured Finance team led by John Alascio, Chris Moyer and Suraj Ravi served as the exclusive advisor to MDC in arranging and structuring the joint venture with PCCP. 

            The joint venture has tapped the Cushman & Wakefield leasing team of Marc Trevisan, David Sherman, David DeMatteis and Slava Verynberg as its exclusive agent to market and lease the property. The property was sold by the Cushman & Wakefield of New Jersey Investment Sales team.

For a complete copy of the company’s news release, please contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224