Both sales were arranged by Sig Schoor, vice president of the locally based Schilp & Co. LLC Realtors. The first sale for the Migliaccio family, which owned the 10+ acre site for many years, was to a local development group that secured all the approvals for the project. Once the approvals were in hand and title closed, Schoor re-sold the property to KJW Developers of Gladstone, NJ for an undisclosed price. The latter is actually developing Mill Ridge Farms.

"Mill Ridge Farms is meeting the need for new office space in this area," says John Schilp, managing member of Schilp & Co. "The location is perfect for businesses whose employees would rather not face the long commute to such business hubs as Morristown, Parsippany and those in Bergen County."

Offices at the property range from 1,500 to 16,000 sf, and the initial building is more than 70% leased, according to Schilp. The complex also offers 200 single offices with secretarial services.