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CBRE Arranges Deal for Florham Park Offices
CBRE arranged the $24.5-million sale of 25 Hanover Rd., a 100% leased, 132,737-square-foot office park in Florham Park, NJ. Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Fahri Ozturk, Rich Gatto, Travis Langer, and Daniel Blumenkrantz of CBRE’s Institutional Properties Group represented the seller, The Silverman Group. CBRE also procured the buyer, a privately held real estate company.
The two Class A buildings are situated in a park-like setting. The property has maintained occupancy of 90%-plus for more than 10 years.
Neuer commented, “The Silverman Group has done a tremendous job maintaining a high-quality asset and strong relationships with the tenants evidenced by the superb historical occupancy. The buyer was diligent in pursuing the asset because they are committed to the market, having acquired a nearby asset in 2021. 25 Hanover provides the buyer with another high-caliber asset in an amenity-rich pocket of the Morris County submarket.”
- ◦Sale/Acquisition
