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CushWake Arranges Trade of Office/Flex Complex in Monmouth County
A Cushman & Wakefield team represented Mack-Cali Realty Corp. in the sale of Monmouth Shores Corporate Park, a 400,000-square-foot, eight-building office/flex complex in Wall Township, NJ. Monmouth 2 LLC, an affiliate of BHN Associates, purchased the asset from Mack-Cali.
Deal terms were not disclosed. Cushman & Wakefield’s NJ investment team members, included Andy Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Frank DiTommaso.
The complex is comprised of five single-story flex assets and three office buildings, and was 88% leased to 24 tenants at the time of sale. “Mack-Cali has done an exceptional job with the Park, maintaining a high historical occupancy rate and catering to a diverse base of regional and national credits,” said Gabriel.
“Most notably, the Park serves as home to Monmouth County’s largest employer, who has maintained a presence there for over 15 years and continues to expand,” DiTommaso added.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
