Pentaurus Properties Acquires Morristown Plaza Office Complex For $21.5M

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.