Signature Acquisitions Acquires Property From The Silverman Group With Buyer's Representative Gary Gabriel

A three-building office park located at 150 Allen Rd, Bernards, NJ, 07920, in the Basking Ridge market has been sold. The total square footage of the property is 524,260, encompassing three four-story buildings. These Class-A buildings have been rebranded as The Offices at Liberty Corner and are positioned immediately off of I-78 at Exit 33. Each building accommodates a variety of tenant sizes and uses, featuring amenities such as renovated common areas, covered parking, food service, landscaped grounds, and outdoor seating areas.

Summary of transaction details:

• Property Type: Office Park
• Transaction Amount: Not disclosed
• Address: 150 Allen Rd, Bernards, NJ, 07920
• Market: Basking Ridge
• Buyer: Signature Acquisitions
• Seller: The Silverman Group
• Buyer's Representative: Gary Gabriel-Cushman & Wakefield
• Other Team Members: Andrew Merin, David Bernhaut, Brian Whitmer, Frank DiTommaso II
• Leasing Experts: Bill Brown, Ben Brenner, MariaGrace Iantosca

The sale was facilitated by Cushman & Wakefield's East Rutherford, N.J., investment sales team. The portfolio boasts a diverse tenant base with over 40 tenants, which enhances the property's appeal through shared amenities and multiple price points. The prior ownership successfully maximized the use of the park's flexibility and amenities, consolidating and expanding several tenants. The park's occupancy rate rose from 93% to near-full during its brief time on the market, highlighting its desirability among companies seeking office space in the I-78 corridor.