Konica Minolta Consolidates Operations in Twin Sale-Leasebacks
Cushman & Wakefield has arranged dual sale-leaseback transactions on behalf of Konica Minolta Business Solutions USA, enabling the consolidation of its U.S. operations into a single Northern New Jersey campus. First announced by Konica Minolta in December, the consolidation entails shifting back-office functions from Windsor, CT to the firm’s longtime home turf of Williams Drive in Ramsey, NJ.
A Cushman & Wakefield team, including Richard Baumstein and Marc Graham, arranged Konica Minolta’s purchase of 133 Williams Dr. from Prestige Motors, with Savills Studley’s Dan Foley representing the seller. Cushman & Wakefield then brokered a 277,900-square-foot package involving the 133 Williams contract assumption and Konica Minolta’s sale of its adjacent headquarters at 100 Williams Dr. to LCN Capital Partners.
“This series of calculated moves paves the way for Konica Minolta to create an exciting, modern work environment, while gaining efficiencies and accommodating future growth—all while remaining in place,” said Baumstein.
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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).