Hot Parsippany property trades for $41m.For the second time in four years, Lanidex Plaza in Parsippany has traded hands, announced Gary Gabriel, executive director of Cushman & Wakefield's Metropolitan Area Capital Markets Group in East Rutherford Rutherford (rŭth`ərfərd), borough (1990 pop. 17,790), Bergen co., NE N.J., a residential suburb of the New York City–N New Jersey metropolitan area; inc. 1881. Several pre-Revolutionary houses remain there. . Ivy Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Won among a pool of more than 15 competitive bidders to purchase the 285,000 s/f, Class A campus. The Metropolitan Area Capital Markets Group represented both parties in the $41 million sale and also orchestrated or·ches·trate tr.v. or·ches·trat·ed, or·ches·trat·ing, or·ches·trates 1. To compose or arrange (music) for performance by an orchestra. 2. the initial purchase of the property in 2002. Located at 200-700 Lanidex Plaza Road, the six-building campus sits at the junction of Routes 80 and 287. With an occupancy rate Noun 1. occupancy rate - the percentage of all rental units (as in hotels) are occupied or rented at a given time pct, per centum, percent, percentage - a proportion in relation to a whole (which is usually the amount per hundred) in the mid-90 percent range, the property serves as home to a number of noteworthy tenants including Kings Supermarkets, Great American Insurance and Lanier Worldwide. |
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