Cushman & Wakefield on Wednesday said it arranged the sale of 10 James St., an approximately 18,000-square-foot medical office building in Florham Park. The final sale price was $4.62 million.
Cushman & Wakefield’s Frank DiTommaso, Andy Schwartz, Jordan Sobel, Andre Balthazard and Dan Bottiglieri represented the seller, the Silverman Group, and procured the buyer, Desai Holdings.
“We are grateful to have worked with the Silverman Group and Desai Holdings on this transaction,” Sobel said. “This stabilized medical office building is ideally located in a central business district and surrounded by an affluent population. Coupled with a strong tenant roster, the property offers great existing cash flow with the value-add opportunity for new ownership.”
10 James St. is a fully leased medical office building situated on 1.19 acres. Located in the central business district of Florham Park, the building is surrounded by corporate and medical office occupiers.
The property is conveniently located near an abundance of dining and shopping options and in proximity to Route 24 and Interstates 80, 280 and 287, as well as the Morristown Airport.