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“Building a stronger, fairer New Jersey economy requires taking an innovative approach to community revitalization that acknowledges economic prosperity and environmental sustainability are not competing goals but mutually reinforcing ideals,” says Governor Phil Murphy.
The location positions Lawrence Station near many high-profile corporations, including Apple, Google and Microsoft, Lawrence Caltrain Station and expanding retail offerings, plus access to Silicon Valley Power.
"With the forthcoming renovations and refurbishments, we expect this hotel to drive long-term value, and be an integral part of the expanding Cambridge Landmark portfolio," says Pedro Miranda, managing partner.
Hotel developer Jackson-Shaw is continually impressed by Fort Worth's growing economy, pro-business attitude and abundant labor pool, and the hotel will provide a hospitality experience entirely new to the city.
The 324,000-square-foot office building has large floorplates within three floors and is positioned to serve tenants of all sizes after its recent renovation with upgraded building systems.
The deal for the 23-building complex calculates out to $280,978 per unit, according to Marcus & Millichap, which announced the transaction. The property, which was constructed in 2006, was sold free and clear of existing debt.