As reported by GlobeSt.com, the transaction is part of theNJSEA's deal with the New York Jets and Giants to build a newstadium in the Meadowlands for the two NFL teams, as well as newheadquarters and training facilities for both. For the Jets, thedeal means a relocation of its long-time Long Island headquartersto the site here.

Along those lines, a lease for the complex has already beensigned with the NJSEA by the Jets, who will occupy anunder-construction 140,000-sf HQ and training facility. Plans forthe site include four outdoor fields, one indoor field, and officesand media space. The Jets, which began construction on theirproject in April, anticipate completing it in the summer of2008.

"I want to thank Gale, Rockefeller and the NJSEA for their workin ensuring the success of this purchase," says Jets president JayCross. "We are excited to move to Florham Park, a community thathas already welcomed us as their neighbor."