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BASKING RIDGE, NJ – Owners Cronus Capital of New York and Lincoln Property Co. are shopping approximately 50,000 sf at the two-building, 100,000-sf 180-188 Mt. Airy Rd. here, and have hired CB Richard Ellis to find tenants for that space. Cronus and Lincoln, which has a New Jersey office in Parsippany, bought the property just more than a year ago from Pitcairn Properties for a reported $15.4 million, or $150 per sf.

The complex consists of twin 50,000-sf, two-story class A buildings labeled Mt. Airy Corners III and IV at Exit 26 of I-287, and for CBRE, Gregg Baillie, Sam Buckley, John Goodwin, Patricia Riedel and Geoffrey Schubert are handling the assignment. Schubert brokered 2007′s sale of the buildings.

On the market are spaces ranging from 2,000 sf to a full 50,000 sf, currently listed with an asking price of $25 per sf. The buildings, completed in 1981, also recently underwent a capital improvement program upgrading their common areas.

“The property’s setting and the current renovations should offer significant appeal,” Goodwin says. “We anticipate strong demand.”

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