X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MT. OLIVE, NJ-BPG Properties is looking to find tenants for the one-million-sf former BASF North American headquarters here, and has hired CB Richard Ellis to fill the five-building campus. Renamed Morris Crossroads Corporate Campus, the complex is located at 3000 Continental Dr. here.

For CBRE, the assignment is being handled by vice chairman Patrick Murphy, SVP Sam Buckley, EVP Peter Eppie, senior managing director Ray Sohmer, SVP Remy DeVarenne and associates Gregg Baillie and Brendan McBride. An affiliate of the Yardley, PA-based BPG acquired the sprawling asset two years ago after BASF downsized and located to two smaller North Jersey locations, leaving the campus completely vacant.

“Morris Crossroads is the largest block of class A space in the New York metropolitan area,” says Murphy, in a statement. “It is ideal for mid- to large-sized companies that are seeking to relocate, reduce operating costs….”

Buckley says that “the property is extremely flexible and is suitable for an array of users, including office, education, hospital/conferencing, laboratory and even residential.” The space is divisible to 40,000 sf, he notes.

The campus was built in phases for BASF between 1994 and 1998 at the intersection of I-80 and Routes 46 and 206. The property has been on the market for about 18 months and the hiring of CBRE marks an agency switch. The space is currently listed with an asking price of $24 per sf plus tenant electric for a term of 10 years.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.