FLORHAM PARK, NJ-The New York-based arm of global investment group Investcorp will announce later today that it has paid $110M-plus for three class A office buildings in the 89.5-acre Rockefeller Group Corporate Park, located on Rte. 24 at 180 Park Ave. here. The 606,622-sf acquisition from the Manhattan-based Rockefeller Group was made in conjunction with Rutherford, NJ-based Lincoln Equities Group, which will assume leasing agent and property management duties.

“The acquisition of the Florham Park office portfolio builds upon Investcorp’s investments in the Northern New Jersey office sector,” says Jon Dracos, member of Investcorp’s Management Committee. “Furthermore, this acquisition, along with other recent office investments in other targeted markets throughout the U.S., demonstrates Investcorp’s on-going commitment to the office investment sector.” This acquisition is the 16th office and/or industrial property acquired by Investcorp in 2002.

Two of the buildings are fully-leased by AT&T Corp and house the headquarters of that company’s AT&T Labs Research division. Novartis Pharmaceuticals Corp. occupies a majority of space in the third building. Undisclosed brokerage at New York-based Cushman & Wakefield negotiated the transaction of behalf of Manhattan-based The Rockefeller Group. Brokerage for Investcorp was undisclosed.

The Rockefeller Group will retain both the name of the park and ownership of a 55-acre undeveloped section of the site. They plan to construct a 230,000-sf facility on the space, although those details were not released.

Prior to this transaction, the class A portfolio of Investcorp and partner Lincoln Equities in Northern New Jersey and Long Island spanned seven properties and approximately 1.4 million sf. Investcorp has also made investments in two commercial properties in Manhattan this year–the Metropolitan Tower and 150 Fifth Ave.

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