Penwood Real Estate Investment Management & Saxum Real Estate Acquire Office In Parsippany For $16.32M

The property asset involved in the transaction is an office building located at 7 Campus Drive in Parsippany. The sale price of the property is $16,321,184, with a total square footage of 128,150 and a price per square foot of $127.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $16,321,184
• Square Footage: 128,150
• Price per Square Foot: $127
• Buyer: Penwood Real Estate Investment Management & Saxum Real Estate
• Seller: The Birch Group
• Seller's Representative: Kyle Schmidt, Gary Gabriel, Seth Zuidema, Ryan Larkin & David Bernhaut - Cushman & Wakefield
• Market: Parsippany
• Note: Office redevelopment to Industrial Warehouse

This transaction involves key individuals from the brokerage firm Cushman & Wakefield, who represented The Birch Group. The representatives Kyle Schmidt, Gary Gabriel, Seth Zuidema, Ryan Larkin, and David Bernhaut played a crucial role in facilitating the sale of the property.