Fully integrated CRE services firm has served as leasing agent for 1.16-million-square-foot trophy office campus in Florham Parkfor over seven years
The Avison Young New Jersey office continues its successful work representing Park Avenue at Morris County, located in Florham Park, NJ, having served as the exclusive leasing agent for the six-building class-A corporate park since 2013.
Considered one of finest office campuses in the entire Tri-State region, Park Avenue at Morris County totals 1.16 million square feet and is set on a picturesque 135-acre site in Florham Park directly off Route I-24.
The Class-A office park was recently sold by an entity held by KBSto New York City-based private investor Liberty Properties, LLC. Avison Young has been retained as the exclusive leasing agent and will continue its ongoing marketing campaign for the trophy asset that has brought the property to nearly 90% occupancy during their time representing the property.
A multi-million-dollar capital improvement planwas completed at the property that included adding several new state-of-the-art property amenities, new roofs and HVAC units, updated elevators, a dedicated shuttle to the Madison NJ Transit train station and other interior and exterior improvements.
"The high-quality tenant mix and extensive amenity base were key drivers in attracting Liberty Properties to Park Avenue," says Liberty Properties CFO Brian Haimm. "The park has been well maintained which allows Liberty to focus on adding to the amenity base and lease the remaining vacancy. We understand what companies want out of their office space and look forward to providing a product that exceeds tenants' expectations."
‘’The upgraded Park Avenue at Morris County offers tenants the opportunity to work in a truly modern, amenity-rich office park in one of New Jersey’s most attractive locations,” notes Avison Young’s Principal and Managing Director of New Jersey Jeffrey L. Heller. “It’s been a privilege to represent this premier campus over the last seven years and we’re proud that the work of the Avison Young leasing team has made it oneof the most sought-after business addresses in the state. We look forward to building on all our previous successes and working in tandem with the new ownership at Park Avenue at Morris County as we continue to promote this best-in-class property that offers everything today’s tenants look for in a modern office environment.”
The Park Avenue at Morris County property features a mix of institutional tenants, headquarter-quality construction and a prime commuter location with train access to Manhattan from the Madison Train Station, situated just two miles from the property.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, and multi-family and hospitality sectors.
