HFF announces $28M sale of Class A office building in Bergen County, New Jersey
FLORHAM PARK, NJ – December 21, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $28 million sale of 300 Tice Boulevard, a Class A office property totaling approximately 240,000 square feet in Woodcliff Lake, New Jersey.
The HFF team represented the seller, Mack-Cali Realty Corporation, and procured the buyer, BHN Associates, Inc., in conjunction with Hudson Equities Inc.
300 Tice Boulevard is situated within Bergen County and benefits from easy access to several of the main thoroughfares in the state, including the Garden State Parkway, Routes 4 and 17, and Interstate 80, which provide access to northern and central New Jersey as well as Manhattan about 20-25 miles southeast. The three-story property is 65 percent leased, including notable tenants such as KPMG and Volkswagen. Constructed in 1991 on 20 acres, the building features an attractive granite façade, four atriums including an impressive lobby, a full-service cafeteria with dining area, fitness center, walking path and covered parking.
The HFF investment advisory team representing the seller included senior managing director Jose Cruz, managing director Kevin O’Hearn, senior directors Michael Oliver and Stephen Simonelli and director Marc Duval.
“300 Tice is the latest office building to trade out of the Mack-Cali portfolio. We had great interest in the asset given the quality and upside in the deal,” stated Cruz.
HFF and Holliday GP Corp. ("HFF") are licensed New Jersey real estate brokers.
About Mack-Cali Realty Corporation
One of the country's leading real estate investment trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout the Northeast. Mack-Cali is headquartered in Jersey City, New Jersey, and is the visionary behind the city's flourishing waterfront, where the company is leading development, improvement and place-making initiatives for Harborside, a master-planned destination comprised of class A office, luxury apartments, diverse retail and restaurants, and public spaces.
A fully-integrated and self-managed company, Mack-Cali has provided world-class management, leasing, and development services throughout New Jersey and the surrounding region for two decades. By regularly investing in its properties and innovative lifestyle amenity packages, Mack-Cali creates environments that empower tenants and residents to reimagine the way they work and live.
For more information on Mack-Cali Realty Corporation and its properties, visit mack-cali.com.
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.