The Birch Group Acquires Office Building In Florham Park For $X M

Located at 180 Park Ave in Florham Park, NJ 07932, the 228,000-square-foot office building was sold in a transaction facilitated by JLL. The Class A building, constructed in 2001, is part of the Green at Florham Park development, encompassing 26.6 acres in total. Notable features include a newly renovated atrium lobby, a coffee bar, cafeteria, fitness center, tenant lounge, and conference center. Presently, the property is 75% leased, with Maersk Inc. as the anchor tenant alongside Summit Medical Group, MD Anderson, and the New York Jets.

Summary of transation details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Seller's Representative: Kevin O’Hearn(JLL), Michael Oliver(JLL), Steve Simonelli(JLL), Michael "Mike" Oliver(JLL)
• Buyer: The Birch Group
• Seller: Hudson Advisors
• Market: Florham Park

The sale was negotiated by Jose Cruz, Kevin O’Hearn, Steve Simonelli, and Michael Oliver from JLL on behalf of the undisclosed seller. The buyer, a joint venture between Vision Properties and The Birch Group, secured a three-year floating-rate acquisition loan through CBRE Global Investors, arranged by Greg Nalbandian of JLL.