The Stro Cos. has purchased a 141,000-square-foot office and data center in Florham Park, it announced this week.
The Ridgewood-based Stro said in a news release that the property at 19 Vreeland Road was acquired from Bank of New York Mellon, which occupies the site and uses it as an office and data center. Financial terms of the transaction were not disclosed.
“This is an exciting project, one that everyone at Stro is looking forward to work on post-closing,” Jack Shulman, director of acquisitions & capital markets, said in a prepared statement. “Stro is very focused on acquiring properties adjacent to its existing ones. With 19 Vreeland being across the street from our 4 Vreeland property, this was a natural purchase for us.”
A JLL Capital Markets team of Jose Cruz, Michael Oliver, Steve Simonelli, Kevin O’Hearn, J.B. Bruno, Jordan Avanzato and Michael Kavanaugh represented the seller. Debt was financed by Prudential Bank, led by John Bailey.