New Jersey office complex sold for $56M

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CB Richard Ellis' New York Tri-State Investment Team recently negotiated the sale of Mt. Kemble Corporate Center, a 277,860-square-foot office property in Morristown, N.J. The value of the transaction was $56.7 million. Mt. Kemble Corporate Center, located at 350-360 Mt. Kemble Ave., is a two-building office property located off Exit 33 of Interstate 287. Tenants at the time of sale included Morgan Stanley, St. Paul Fire & Marine Insurance Co., Watson Pharmaceuticals, Coughlin Duffy, and Taisho Pharmaceutical. Brookwood Mt. Kemble Investors LLC sold the property to Brickman Real Estate Fund II L.P. The CB Richard Ellis New York Tri-State Investment Team specializes in the sale of investment properties in the suburban markets surrounding New York City, as well as select regional markets throughout the country. ...