Update: This story was updated 10/7/2014 8:53p.m. to include the approximate sale price and a comment from CBREon Cornerstone's motivation for the large transaction.
PARSIPPANY, NJ—Cornerstone Real EstateAdvisers has sold four buildings totaling more than210,000 square feet of office space to a joint venture betweenLincoln Property Company and Red RiverAsset Management.
The four properties, 10, 20 and 30 LanidexPlaza and 299 Cherry Hill Road inParsippany, contain 210,888 square feet of office space. Thebuildings are at the crossroads of I-80 and I-287, with immediateaccess to Routes 202 and 46, and within 30 miles of both New YorkCity and Newark Airport.
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