 |
| 55 Madison Avenue, Morristown, NJ |
FLORHAM
PARK, NJ, June 17, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today
that it has closed the sale of a two-property medical office and office
building portfolio totaling 128,000 square feet in Morristown, New Jersey. The two properties within the portfolio are: 55 Madison and 101 Madison Avenue.
 |
| Jose Cruz |
HFF marketed
the assets on behalf of the sellers, a joint venture of Ivy Realty and
CenterSquare Investment Management.
Atlantic Health System, represented by Colliers International, purchased
both buildings for $22.5 million free and clear of any existing debt.
55 and 105
Madison Avenue are located across from the Morristown Memorial Hospital about
two miles from downtown Morristown and the Morristown train station, which
provides access to New York’s Penn Station 25 miles to the east.
The property
has immediate access to Interstate 287 as well as close proximity to
Interstates 80 and 280, and Routes 24, 10 and 202. 101 Madison is a 39,000-square-foot medical
office building that was most recently renovated in 2008.
55 Madison
was updated in 2009 and consists of an 89,000 square-foot-office building. Major tenants include Regus, Keller Williams,
Fresenius Medical Care and BioReference Laboratories.
The HFF
investment sales team representing the seller was led by senior managing
director Jose Cruz, managing
director Kevin O’Hearn and real
estate analyst Robert Borny.
For a complete copy of the company’s
news release, please contact:
Kristen M.
Murphy
Associate
Director
HFF | One
Post Office Square, Suite 3500 | Boston, MA 02109
Main:
617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
No comments:
Post a Comment