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EAST HANOVER, NJ-CB Richard Ellis has picked up the marketing exclusive for Ridgedale Corporate Center, a 155,000-sf office complex at 711-717 Ridgedale Ave. here. CBRE’s Richard Danesi, senior vice president, Brian Godau, vice president, and associates William Hassan and Sarah Jones are handling the assignment for the owner, North Jersey Development Group.

The Rockaway, NJ-based NJDG bought the property, which consists of two interconnected buildings on 20 acres, constructed in 1981, from Preferred Real Estate Investments in January in a deal brokered by CBRE’s New York Tri-State Investment Team. The sale price of just under $15.3 million factors out to $99 per sf. The complex was, at the time of sale, one-third occupied as the headquarters of National Perscription Administrators Inc., and has since become fully vacant. NJDG is in the process of adding a variety of amenities.

That sale transaction marked the second time the center had traded in two years. In early 2004, it was acquired by PREI for an undisclosed price from Express Scripts Inc., a pharmacy benefits company. Express Scripts had acquired current tenant, National Prescription Administrators, along with the building, approximately two years prior to that.

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