Bergman buying spree continues with Secaucus purchase.

Continuing their program of office building acquisitions in New Jersey, Bergman Real Estate Group and its joint venture partner, Edison Investment Advisors, recently purchased 333 Meadowland Parkway in Secaucus.

The five-story office building sits above covered parking with retail and warehouse facilities on grade level totaling 138,000 s/f.

The complex was acquired from Hartz Mountain Industries, which was represented by brokers Jeffrey Dunne and Jeffrey Oram of CB Richard Ellis' Tri-State Investment Team.

The sales price was reportedly $14,250,000. The building is presently 75% leased to multiple tenants, including Control Building Services, International Paper, Mayo-Lynch Associates, Springer-Verlag and St. Jude Medical SC.

333 Meadowland Parkway is conveniently located a few miles off Route 3 just off the juncture of the New Jersey Turnpike at Exit 16W.

A new four-way interchange presently under construction at Exit 15X of the NJ Turnpike, adjacent to the Secaucus Train Station, will further enhance access to the property when completed later this year. The building offers excellent access to a surrounding network of major highways, including the NJ Turnpike, Interstates 495 and 280, Routes 3, 17, 1 and 9, and the Garden State Parkway.

The property also benefits from access to public transportation, which comes right to the door via several bus routes, and the Secaucus Junction Train Station is less then one mile away providing an easy, efficient commute for tenants.

The property is part of the 980-acre mixed-use community-known as Harmon Cove, which features corporate offices, retail outlet shopping, waterfront condominiums, hotels, and industrial facilities.

Initially built by Hartz in 1981, 333 Meadowland Parkway has undergone several major upgrades and improvements in recent years. Since 2000, the property has seen capital improvements valued at more than $2 million, including renovation of the ground floor lobby and bathrooms, a complete overhaul of the existing HVAC system, a new roof and installation of a new, Alucobond composite metal panel facade, providing a new look to the building.

The Bergman/Edison team have immediate plans to make further upgrades, including remodeling the common areas, new directory signage, artwork, planters and several exterior improvements.