HFF announces sale of 26-building office/flex portfolio in Southern New Jersey
FLORHAM PARK, NJ – October 16, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of a 26-building, 1.2 million-square-foot office/flex portfolio in Moorestown and Burlington Townships, New Jersey.
The HFF team marketed the portfolio on behalf of the seller, Mack-Cali Realty Corporation. Brennan Investment Group purchased the portfolio free and clear of any mortgage financing.
The portfolio comprises 24 buildings in Moorestown and two buildings in Burlington Township that are 91 percent leased overall. Tenants include businesses in health care services, pharmaceutical/clinical packaging and medical supplies. The properties are situated within two of the area’s top business parks near the Pennsylvania/New Jersey border. This location has easy access to the area’s primary thoroughfares, including Interstates 295, 195, 95 and 276 and Routes 130, 206, 70 and 38. Additionally, the portfolio is located within 20 miles of the Philadelphia International Airport and within 10 miles of the Philadelphia Regional Port.
The HFF investment sales team representing the seller included senior managing directors Jose Cruz and Doug Rodio and managing directors Brett Segal and Kevin O’Hearn.
“This portfolio had a significant amount of interest give its size and the potential upside,” Cruz said.
HFF and Holliday GP Corp. 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.
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired over $3 billion in industrial real estate. The company’s current portfolio spans 25 states and encompasses over 33 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The firm’s management team is among the most accomplished in its industry, having invested in over 4,000 properties covering more than 60 cities throughout the United States, Canada and Europe. For more information on Brennan Investment Group, go to brennanllc.com.
HFF and its affiliates operate out of 24 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.