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| 1 Gatehall Drive, Parsippany, NJ |
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| Jose Cruz |
FLORHAM PARK, NJ – Holliday Fenoglio Fowler, L.P. (HFF)
announced it has closed the sale of 1
Gatehall Drive, a 114,000-square-foot, four-story, Class A office building
in Parsippany, New Jersey.
HFF represented the seller
in the sale of the property to Lincoln Property Company.
1 Gatehall Drive is
situated along Route 202, in close proximity to Route 10 and Interstates 287
and 80. Renovated in 2004, the Energy Star-rated building features a two-story
lobby atrium with skylight, well-appointed common areas, shared conference room,
dining area and a fitness center.
1 Gatehall Drive also
shares a fountain courtyard with an adjacent office building and is next door
to a Marriott Residence Inn. Tenants at
the 63-percent-leased property include software, consulting, communications,
staffing and foodservice tenants.
The HFF investment sales
team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn and directors Stephen Simonelli and Michael Oliver.
“This sale further
exemplifies the demand for well-located value-add office buildings in Northern
New Jersey where the buyer can continue to improve the property,” Cruz
said.
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Specialist
HFF | 9 Greenway Plaza,
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
.
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