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Pentaurus Properties Acquires Morristown Plaza Office Complex For $21.5M

161-163 Madison Avenue

Office
122,103 SF
clock iconSold 356 days ago
Andre Balthazard
Jordan Sobel
Gary Gabriel
+ 6
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Summary

Sale
NEW JERSEY
Office
122,103 sqft

Pentaurus Properties has purchased Morristown Plaza, a two-building office complex in Morristown, for $21.5 million. The 122,103-square-foot property is nearly fully leased and offers amenities such as a PNC Bank branch and a renovated amenity center.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $21,500,000
  • Address: 161-163 Madison Avenue, Morristown
  • Market: Morristown
  • Asset Type: Office
  • Acres: 3.9

The buyer in this transaction is Pentaurus Properties, represented by Austin Rolnick. The seller is Silverman Group. The deal was facilitated by brokers from Cushman & Wakefield, including Gary Gabriel, David Bernhaut, Frank DiTommaso, Bill Baunach, Maia Sirabian, Andy Schwartz, Jordan Sobel, and Andre Balthazard.

Players

  • All

    9

  • Agents

    8

  • Agencies

    1

Andre Balthazard's profile picture
Andre Balthazard
Cushman & Wakefield-image
Associate
$202.6M Sold
Gary Gabriel's profile picture
Frank DiTommaso's profile picture
Maia Sirabian's profile picture
Andy Schwartz's profile picture

Details

Deal Summary
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SOLD
IMAGE: Gary Gabriel, David Bernhaut, Frank DiTommaso, Bill Baunach, Maia Sirabian, Andy Schwartz, Jordan Sobel & Andre Balthazard DATE: 06/09/2023 ADDRESS: 161-163 Madison Avenue MARKET: Morristown ASSET TYPE: Office ~ ACRES: 3.9 BUYER: Pentaurus Properties - Austin Rolnick SELLER: Silverman Group BROKERS: Gary Gabriel, David Bernhaut, Frank DiTommaso, Bill Baunach, Maia Sirabian, Andy Schwartz, Jordan Sobel & Andre Balthazard - Cushman & Wakefield SALE PRICE: $21,500,000 SF: 122,103 ~ PPSF: $176 NOTE: Pentaurus Properties has purchased Morristown Plaza, a two-building office complex in Morristown, for $21.5 million. The 122,103-square-foot property is nearly fully leased and offers amenities such as a PNC Bank branch and a renovated amenity center.

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Address161-163 Madison Avenue

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