undisclosedprice

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Armstrong Capital has hired Cushman & Wakefield to findtenants for the site. The 50-acre property consists of twointerconnected, three-story class A office buildings of 105,000 sfand 80,000 sf. Units are available from 12,000 sf, according toDavid Zwang of C&W's Morristown office, who's heading theassignment. C&W's Metropolitan Area Capital Markets Group hadpreviously orchestrated the sale to Armstrong.

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"This high-profile property is being marketed for multi-tenantuse for the first time in its history," Zwang says. "It representsone of only a few large blocks of available class A space inMonmouth County, and we are already seeing significant interest.Armstrong Capital is putting a program in place to upgrade andreposition the buildings."

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Located at the intersection of routes 66, 35 and 33 directlyacross from an AIG regional headquarters, the property formerlyhoused operations for Blue Cross/Blue Shield and PhysiciansHealthNet, prior to CNA. The space has not yet been listed with anasking price, but comparable space nearby is listed in a range of$23 to $27 per sf.

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