"The acquisition of the Florham Park office portfolio buildsupon Investcorp's investments in the Northern New Jersey officesector," says Jon Dracos, member of Investcorp's ManagementCommittee. "Furthermore, this acquisition, along with other recentoffice investments in other targeted markets throughout the U.S.,demonstrates Investcorp's on-going commitment to the officeinvestment sector." This acquisition is the 16th office and/orindustrial property acquired by Investcorp in 2002.

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

The Rockefeller Group will retain both the name of the park andownership of a 55-acre undeveloped section of the site. They planto construct a 230,000-sf facility on the space, although thosedetails were not released.