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New York & Tri-State  + New Jersey  + Office  | 

Basking Ridge Offices Trade, Offering Value-Add Potential for New Ownership

Cushman & Wakefield arranged the sale of a 216,573-square-foot office property located at 131 Morristown Rd, in Basking Ridge, NJ for an undisclosed sum. The firm’s David Bernhaut, Gary Gabriel, Kyle Schmidt, Frank DiTommaso, Andy Schwartz, Jordan Sobel, Andre Balthazard and Bill Baunach represented the seller and procured the buyer, Adoni Property Group.

“This was a unique opportunity to acquire an expansive 34-acre site with exceptional access on and off I-287 in one of Northern New Jersey’s most affluent areas,” said DiTommaso.

Sobel added, “The property provides optionality for new ownership to implement a value-add leasing strategy while also pursuing alternative options for the site in the future.”

Following the sale, William O’Keefe and Charles Parmelli of Cushman & Wakefield will serve as exclusive leasing agents for the property.


Inside The Story

Cushman & Wakefield's DiTommaso

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).