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“The property's location in the heart of Fairview in Bergen County helped to drive investor interest while the recent renovation and upside in rents pushed pricing,” says HFF's José Cruz.
The college and seminary hope to secure state approval so that their operations will be housed solely at its Manhattan campus at 2 Washington St. by the fall of 2019.
North Chicago, IL-based AbbVie is the first tenant at the Gateway campus. BioMed Realty is currently building the first phase of the 1.4 million square foot Gateway of Pacific campus.
Barrack has reassumed the position he had when he founded Colony as a private company in 1991, and held until 2014 when Colony merged into Colony Financial, Inc.
The opening of the new four-star hotel signifies the latest in a host of openings for the fast-growing Vancouver-based full-service hospitality firm, which is actively growing its footprint in Canada, the UK, and the US.
The property, located at the northwest quadrant of Powers Ferry and Terrell Mill Roads, will be located within the new master planned 24-acre Marketplace Terrell Mill development.