JV sheds class A Jersey space

Deal fetches more than $319 a square foot

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A joint venture between Normandy Real Estate Partners and Wafra Investment Advisory Group recently sold a 139,000-square-foot office building in Fort Lee, N.J., for $44.4 million. A local investor bought the class A property, which is located at 2100 North Central Road. Built in the early 1980s, it comprises seven floors of office space atop six levels of parking. The sellers had acquired the property in 2005, and the sale represents one of the highest prices per square foot ever paid for an office building in the Fort Lee submarket, according to a press statement. ...