Advance closes acquisition of Cherry Hill Road.Advance Realty Group, a Bedminster, New Jersey-based commercial real estate owner and developer, has announced the acquisition of 260 Cherry Hill Cherry Hill, township (1990 pop. 69,319), Camden co., W central N.J.; name was changed from Delaware township to Cherry Hill in 1961. Largely residential, Cherry Hill has been marked by great development and housing growth, especially since the 1970s. Road in Parsippany, New Jersey, a 121,544 square-foot office building from NY Life. Advance Realty Group is planning a multi-million dollar repositioning of 260 Cherry Hill Road, which will include substantial interior and exterior improvements. Additionally, the facility is expandable by approximately 100,000 square feet. David Simson, president, along with David Csontos, senior vice president of investment sales for GVA GVA general visceral afferent system of nerves. Williams of New Jersey and Bob Sass, executive managing director, GVA Williams New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , represented NY Life in this transaction. Built as a corporate headquarters in the early 1970's, 260 Cherry Hill Road was subsequently acquired by NY Life and utilized by the company as a state-of-the-art data center and trading desk Trading Desk A desk where transactions for buying and selling securities occur. Trading desks can be found in most organizations (banks, finance companies, etc.) involved in trading investment instruments such as equities, fixed-income securities, futures, commodities and foreign . The 121,544-square-foot facility is situated on a beautifully landscaped, pastoral site and features approximately 30,000 square feet of conference center and cafeteria space, fitness center and a helipad hel·i·pad n. See heliport. A prepared area designated and used for takeoff and landing of helicopters. (Includes touchdown or hover point.) . Offering exceptional redundant power capability and new HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free systems, 260 Cherry Hill Road is a stand alone facility allowing prospective tenants the opportunity to operate in a highly secured environment making it ideal as a data center or disaster recovery or business interruption usages. Based on its prominent Morris County location, 260 Cherry Hill Road also presents potential users with a high-profile, sophisticated corporate identity. "The acquisition of 260 Cherry Hill Road represents an outstanding opportunity for tenants seeking a strategically located facility offering substantial, redundant power," stated Robert Martie, Senior Vice President & Regional Managing Director, Advance Realty Group. "We recognized that this building, while in need of cosmetic upgrades, offers some of the most powerful technological infrastructure of any building in northern New Jersey. We've already received substantial tenant interest as both a data center and a disaster recovery, as well as a corporate headquarters location," Martie continued. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. David Simson, President of GVA Williams New Jersey, "Advance was a clear leader in the very competitive bidding Competitive bidding A securities offering process in which securities firms submit competing bids to the issuer for the securities the issuer wishes to sell. competitive bidding 1. process for 260 Cherry Hill Road. Their commitment to the building is evident and they will be a great corporate citizen in Parsippany." Advance has retained Grad Associates to design a comprehensive renovation program for 260 Cherry Hill Road. Plans call for extensive changes to the buildings exterior facade and landscaping as well as upgrades to all interior common areas. The renovations are expected to commence immediately and be completed September. Located at the entrance to Morris Corporate Center, one of the most desirable corporate campuses in New Jersey, 260 Cherry Hill Road is in close proximity to 1-80, 1-287 and Route 46. 260 Cherry Hill Road is situated in a picturesque setting in the heart of the desirable Morris County marketplace. Prestigious corporate neighbors include HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) , Time Inc., Sun Chemical, Cadbury Schweppes, Prudential, Deloitte & Touche and St. Paul RE. The area is also home to several prominent hotels, restaurants, and shopping centers. |
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