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One Harmon Plaza sold to JV partners.


A joint venture involving Prism Capital Partners and New Boston New Boston is the name of some places in the United States of America:
  • New Boston, Illinois
  • New Boston, Massachusetts, the name of several communities including:
 Fund has acquired One Harmon Plaza, a 187,000 s/f, institutional-quality office tower in the heart of the New Jersey Meadowlands.

Cushman & Wakefield's Metropolitan Area Capital Markets Group represented the seller, Hartz Mountain Industries Hartz Mountain Industries (HMI) is a private family owned and operated company known for its vast real estate holdings in the New York/New Jersey Metropolitan Area. Its former parent Hartz Mountain Corporation (of pet products fame), was founded by German-American businessman Max  Inc., and procured the buyer in the transaction. Andrew Merin, David Bernhaut, Gary Gabriel and Jose Cruz Jose Luis Cruz (Cheo) can refer to different people:
  • Camarón de la Isla, stage name of José Monje Cruz
  • José Cruz (Sr.) (born 1947), a baseball player
  • José Cruz, Jr.
 headed the assignment.

According to Merin, the offering's upside potential Upside potential

The amount by which analysts or investors expect the price of a security may increase.


upside potential

The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar
 generated a heated, three-round bidding process. "The Meadowlands market has seen a resurgence of tenant and investor interest over the past several quarters, especially for Class A office space," he said. "One Harmon Plaza is currently 63% leased to 22 tenants. Recent rollover A graphic element in an application or on a Web page that changes its color or shape when the pointer is moved (rolled) over it. See JavaScript rollover. See also n-key rollover.  accounts for the majority of the available space in the building. Prism and New Boston will benefit significantly from strengthening regional rental rates as they lease up space."

Featuring panoramic New York City New York City: see New York, city.
New York City

City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S.
 skyline and river views, the 10-story One Harmon Plaza building sits on 1.67 acres directly off of Meadowlands Parkway. It is located adjacent to Route 3, and approximately one-half mile from Exit 16E of the New Jersey Turnpike (I-95) and just seven miles from New York City. The New York City rail-linked Secaucus/ Allied Junction transfer station is within three minutes of the site, while Newark Liberty International Airport For the massive interchange outside of Newark Liberty International Airport, see .

Newark Liberty International Airport (IATA: EWR, ICAO: KEWR, FAA LID: EWR), first named Newark Airport and later Newark International Airport
 is just a 15-minute drive.

"The Meadowlands' prime accessibility historically has made it one of New Jersey's most desirable office submarkets, and ongoing development of residential, hotel and mixed-use projects in the area are proceeding at an unprecedented pace," Merin noted.

"As the Meadowlands region continues to evolve as a desirable and exciting destination, One Harmon Plaza's location within Harmon Cove provides a set-back, peaceful setting. The property is well positioned to continue as one of the area's most appealing addresses."

One Harmon Plaza's amenities include a full-service retail bank in the lobby, ample parking, and an adjacent Crown Plaza Hotel and Exhibition Center. The immediate area offers abundant shopping, restaurants, hotel facilities and high-end residential developments.
COPYRIGHT 2007 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Title Annotation:NEW JERSEY
Publication:Real Estate Weekly
Date:Jan 31, 2007
Words:335
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