"This is a prime office building with strong visibility on Route46, says CBRE SVP Richard Danesi, who's heading the assignment withVP Brian Godau. "It's just 11 miles from Manhattan and 14 milesfrom Newark Liberty International Airport.

The building has been owned by the New York City-based Praediumand the Dallas-based Lincoln Property for the past 16 months. Asreported by GlobeSt.com,the two firms teamed up in late 2005 to buy the asset fromSecaucus-based Hartz Mountain Industries for a reported $11.9million, or about $93 per sf. Also know as 10 Mulholland Dr., thefour-story building dating to 1983 was 50% leased at the time ofsale.

Since then, the new owners have completed a capital improvementprogram that has essentially, "repositioned this struggling class Bbuilding into a class A building," says Michael Taylor, SVP in theNew Jersey office of Lincoln Property Co. That program includedgeneral interior and exterior upgrades, a new lobby, elevator cabsand common areas. Adjacent to a Hilton Hotel, the property includesexecutive conference and training rooms with a capacity of 300people.