October 8, 2019 Comments (0) Views: 277 National News, New Jersey, Northeast

Colliers Arranges NJ Office Complex Sale After Lease-up

Colliers International arranged the $31.1-million sale of Florham Park Corporate Center, a two-building Class A office complex in Florham Park, NJ. The firm’s Jacklene Chesler, Matthew Brown and Frank Summers represented both the buyer, ACG, and the seller, a joint venture of Bergman Real Estate Group and Rialto Capital Management.

“There was a high level of demand and offers received for this asset,” said Chesler. “This triggered a few bidding rounds with a number of the top investor groups offering impressive and meaningful deal terms.”

Before bringing the property to market, a Colliers leasing team of Richard Madison and Jack Callahan worked with Bergman to secure a number of leases, including two with Atlantic Health Systems. The 230,000-square-foot complex, which recently underwent $2.2 million in capital improvements, was 88% leased at the time of sale.

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