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Repositioning of Warren Campus Culminates in Two-Property Office Sale
Newmark arranged the sale of 40 & 45 Technology Dr. within the Warren Innovation Center in Warren, NJ on behalf of the joint venture partnership between Ivy Realty and Waterfall Asset Management. Executive managing director Kevin Welsh, managing director Brian Schulz and associate Jason Emrani of Newmark’s Capital Markets group, along with support from executive managing director Steven Schultz and managing director Dan Reider, represented the seller and procured the buyer, a private investor.
“This sale signified the culmination of a highly successful repositioning of the campus, which included the rebranding to Warren Innovation Center and implementing an extensive capital improvement program,” said Welsh.
This marks the third sale that Newmark has completed at Warren Innovation Center for the JV over the past 15 months, including 7 Powder Horn Dr. and 30 Technology Rd. These sales totaled more than $57 million.
- ◦Sale/Acquisition
