The Birch Group Acquires Office Building In Parsippany For $25.3M

An office property located at 4 Gatehall Drive in Parsippany has been sold for a price of $25,300,000. The property spans a total area of 265,649 square feet, resulting in a price per square foot of $95. The sale took place on November 19, 2021.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $25,300,000
• Address: 4 Gatehall Drive, Parsippany
• Square Feet: 265,649
• Price per Square Foot: $95
• Seller: Mack-Cali
• Buyer: The Birch Group - Christopher DeLorenzo
• Lender: Money360
• Mortgage Broker: John Alascio, Chuck Kohaut, TJ Sullivan & Meredith Donovan - Cushman & Wakefield
• Loan Amount: $31,310,000
• Loan Terms: three-year

Christopher DeLorenzo, representing The Birch Group, acquired the property from Mack-Cali. The loan for the transaction, amounting to $31,310,000, was provided by Money360. The mortgage broker for the deal was John Alascio, Chuck Kohaut, TJ Sullivan, and Meredith Donovan from Cushman & Wakefield.