The Investment Sales Division of GVA Williams, Parsippany, NJ, represented both the buyer and the seller. The firm's David Simson, president, David Csontos, senior vice president of investment sales, Joe Boiseau, director, Donald Lutt, managing director of brokerage services, and Paul Brick, director, were all involved in the transaction.
TA Associates was also assisted by Marty Kwartler of Kwartler Associates, a Waldwick, NJ-based real estate firm. The purchase price and other terms of the transaction were not disclosed.
240 Cedar Knolls Rd., which was built in 1981, sits on a site of just under 14 acres at the intersection of I-287 and Route 24, with 650 linear feet of frontage on I-287. The asset is currently 87% leased to a variety of tenants headed by Greenwich Home Mortgage, Xybion Corp., Vision Creative Group and Aetna.
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