CBRE team moves fast to sell Vreeland Road buildings to Bergman affiliate for $33m.Jeffrey Dunne, Kevin Welsh and Jeffrey Oram of CB Richard Ellis' 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 Tri-State Region For other tri-state regions, see . The Tri-State Region is commonly used in the area surrounding New York City to unambiguously refer to the greater metropolitan area. Sometimes the phrase is shortened to "the Tri-State," or "the Tri-State Area" is used instead. Institutional Group represented TR Koll Florham Park Corp., an entity controlled by KBS (KiloBits per Second) Could also be KBs for kilobytes. See Kbps and kilo. KBS - Knowledge-Based System Realty Advisors, in the sale of 25 A&B Vreeland Road in Florham Park, New Jersey Florham Park is a borough in Morris County, New Jersey, United States. As of the United States 2000 Census, the borough population was 8,857. Florham Park was incorporated as a borough by an Act of the New Jersey Legislature on March 9, 1899, from portions of Chatham for $33.65 million or $149 psf. The team was also responsible for procuring the buyer, Vreeland SPVEF Venture, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , an affiliate of Woodbridge based, Bergman Real Estate Group. 25 A&B Vreeland Road is comprised of two, three-story, multi-tenant Class A office buildings of 113,475 s/f and 112,082 s/f, respectively, situated on 14 acres in Florham Park, New Jersey. The property is strongly differentiated from its immediate competition due to its highly divisible DIVISIBLE. The susceptibility of being divided. 2. A contract cannot, in general, be divided in such a manner that an action may be brought, or a right accrue, on a part of it. 2 Penna. R. 454. floorplates with the ability to accommodate tenant sizes ranging from 1,000 s/f to full floor occupancies of 38,000 s/f.. Its Class A work environment includes a corporate campus setting with a central courtyard area, a full service cafe, on-site management, and an array of amenities in close proximity of the property including, the Livingston Mall, several restaurants, a new Lifestyles Fitness Center being built across the street, and several upscale hotels such as the Short Hills Hilton and the Westin in Morristown. The buildings were collectively 82% leased at the time of sale to a roster of 19 quality tenants, highlighted by The Hobart West Group, Novartis Pharmaceuticals, Managed Healthcare Associates, Willis of New Jersey, and Veritext LLC. Commented Dunne, "This transaction was done in an exceptionally short timeframe--30 days from start to finish. The Bergman Group was totally focused on closing this deal, which was an impressive performance from a truly professional organization. This investment provides Bergman Real Estate Group with the opportunity to create substantial additional value through the leasing of the current vacant space and extending the leases of existing tenants with near-term lease expirations." "We were awarded this deal based upon our ability to get it done within the Seller's time-frame, which meant we had to complete our due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. in two weeks," said Michael Bergman, president of the Bergman Real Estate Group. |
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