Cushman & Wakefield arranged the sale of a 54,845-square-foot office asset located at 150 Morristown Road in Bernardsville, according to a Friday announcement from the broker.
C&W’s David Bernhaut, Andy Schwartz, Jordan Sobel and Andre Balthazard represented the seller, Denholtz Properties, and procured the buyer, 150 Morristown Road LLC, in the transaction.
“150 Morristown Road offers strong in-place cash flow, presenting investors with an excellent value-add opportunity,” Sobel stated. “With direct access to Route 202, this property offers superior accessibility to all that the region has to offer.”
150 Morristown Road is a boutique office asset that features covered parking, on-site vending and numerous shops and restaurants near the building. The property is leased to 17 tenants, including Decile.Ten LLC, Shain Schaffer P.C. and Carbon Technologies LLC.
The asset features direct access to Route 202 and an entrance to Interstate 287 within 1.5 miles of the property, allowing for a 30-minute drive to Newark Liberty International Airport and a 15-minute drive to Morristown Municipal Airport.