PARSIPPANY, NJ—A joint venture of Harbor Group International LLC, a privately-owned international real estate investment and management firm, and Turnbridge Equities, a vertically integrated real estate investment and development firm, and their affiliates, have sold 100 Jefferson Rd., an industrial property located in Parsippany, NJ, for $85.25 million.
The 550,000-square-foot property was acquired by HGI and Turnbridge in October of 2018 from PNY Technologies, the primary tenant of the property for $60.3 million.
"HGI acquired 100 Jefferson as part of our Last Mile Industrial initiative, targeting industrial properties with direct access to key urban markets," says T. Richard Litton, Jr., President of HGI, in a prepared release. "We successfully implemented a $4.2 million capital improvement plan and executed our leasing strategy, adding significant value to the property."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
