Real Estate

C&W handles two office sales for partnership, working on third

By Eric Strauss
Summit | November 10, 2017 at 9:50 am

By Eric Strauss
November 10, 2017 at 9:50 am

Cushman & Wakefield
The three Summit properties at 466 Springfield Ave., 25 Deforest Ave. and One Deforest Ave.

Cushman & Wakefield has represented a partnership between Normandy Real Estate Partners and MRY Associates LLC in two recent sales, and is angling for a third, the firm said recently.

The team of Douglas Harmon, Adam Spies and Kevin Donner, along with a New Jersey-based Capital Markets team of Gary Gabriel and David Bernhaut, represented the pair in the sale of two high-end office buildings in Summit, at 466 Springfield Ave. and 25 Deforest Ave.

It is also representing them in the listing of One Deforest Ave.

“The owner of these buildings saw what investors were looking for, and created a market that met their needs,” Donner said in a prepared statement. “These transactions will not only have an uplifting impact on the surrounding Summit and Short Hills neighborhoods, but they also challenge suburban markets in other locations across the tri-state to create similar Class A office markets in the near future to progress suburban office leasing capabilities.”

The three Class A properties total 225,513 square feet. The buyers of the first two properties were not disclosed.

 

2017-11-14T10:29:37+00:00
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