JLL Completes $34M Sale of Atrium Corporate Park in Somerset, NJ

SOMERSET, NJ—Jones Lang LaSalle Capital Markets experts have successfully completed the sale of Atrium Corporate Park in Somerset, NJ. The buyer acquired the three-building, class A, 679,251-square-foot office park from a joint venture of Macquarie Group and LNR Partners for $33.5 million. The buyer was not identified; the sellers were identified by Real Capital Analytics, a proprietary research database that tracks commercial real estate transactions. The joint venture acquired the property in April 2012 from LaSalle Investment.

The buyer and seller were represented by Joseph Garibaldi and Thomas Walsh, managing directors; Heather Lombardi, vice president; and Katelyn Borovsky and Nick Vanderslice, associates, all with JLL.

“Atrium Corporate Park is an institutionally owned and maintained office portfolio that offered the buyer a compelling combination of credit cash flow stability and value-add leasing upside,” says Garibaldi. “Atrium Corporate Park offers one of the best value propositions in the Lower 287 submarket.”

Atrium Corporate Park includes three class A office buildings—300, 400 and 500 Atrium Drive in Somerset, NJ. Situated on 47.8 acres, the property provides easy commuting access to both Central and Northern New Jersey’s deep labor pools with convenient highway access to I-287, I-78, Route 22, NJ Turnpike and the Garden State Parkway.