A limited liability company has acquired a 139,000-square-foot office property in Morris Township, N.J., for an undisclosed price.

Southgate Center Four Associates LLC, a newly formed entity controlled by the Zirinsky family, purchased the class A facility from an unidentified entity.

Located at 465 South St., the three-story, brick-clad building sits on 9.7 acres within Southgate Corporate Center, offering covered parking, a cafe and a saw-tooth window design that allows up to 30 corner offices per floor. A central full-height glass atrium lobby with spiral staircase separates the building into two wings.

At the time of purchase, the property was 64 percent leased to seven office tenants. The sizeable vacancy was created by “the gradual departure of a large tenant,” according to a press statement.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Time is running out to secure your Connect Now tickets at the lowest price. Don't miss out on a chance to grow yourself and your business.Learn More×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription