Edgewood Properties Picks Up Former Everest Reinsurance Headquarters
JLL Capital Markets completed the sale of Westgate, a vacant, 250,000-square-foot office property in Basking Ridge, NJ, for an undisclosed sum. The property served as the headquarters for Everest Reinsurance before its relocation to larger space at the nearby Warren Corporate Center.
A JLL team of senior managing directors Jose Cruz, Kevin O’Hearn and Sean Ryan, managing directors Steve Simonelli and Michael Oliver and VP Grace Braverman represented the seller. They also procured the buyer, Edgewood Properties, which is actively seeking a tenant for the property.
Completed in 1991, Westgate is located at 477 Martinsville Rd. in the affluent community of Basking Ridge, which is home to a variety of major corporations and pharmaceutical companies as well as the Memorial Sloan Kettering Cancer Center next door. In addition, the immediate area surrounding Westgate is highly amenitized with numerous restaurants and cafes, national hotel chains, recreation and entertainment options.
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 GlobeSt.com 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).