PARSIPPANY, NJ-Ten Waterview Blvd., an award-winning 208,601-sfclass A office building here has a new owner. In a deal that wasorchestrated by Cushman & Wakefield, McMorgan & Co., theSan Francisco-based investment management services firm, hasacquired the building and its 18.6-acre site on behalf of one ofits real estate investment funds.

The seller was TIAA-CREF. The sale price was not released, butsources say the asset likely traded for a number in the $40 millionrange. The deal follows by a year the completion of a majormakeover of the asset, a project completed in 2006 that resulted in10 Waterview Blvd. picking up BOMA New Jersey's The Office Buildingof the Year Award. And the building's new owner has turned themanagement and leasing assignment over to Lincoln Equities Group'sLinque Management Co. Inc., which has its Garden State office inRutherford.

“This is a premier office address,” says Lincoln Equities GroupEVP Joel Bergstein. “We're confident that this property, which iscurrently 58% occupied, offers tenants an outstanding leasingopportunity.”