News
CCA Makes Largest Office Acquisition in New Jersey
April 17, 2013
China Construction America (CCA) acquired title to 445 South Street, a premier Class A office building in Morristown, New Jersey, at a price of over $70M in an all cash transaction.
This acquisition marks the first major acquisition for the company in the Greater New York area.
The acquisition, which will be used as corporate expansion space for the firm in the future, also marks the largest single office building sale in New Jersey so far this year. The firm recently launched a real estate development platform focused on well located properties in New York City and its environs and the firm is currently working on several large residential developments in Manhattan.
Totaling 325,000 s/f, this property incorporates three four-story wings of premier Class A multi-tenant corporate facility, which was built in 1982 and underwent an extensive redesign under the guidance of Gensler Architecture beginning in 2007. The outstanding creditworthy tenant roster is a testament to the desirability of the Morristown area as well as the recognition that the property offers a unique combination of factors not readily found within the submarket’s office inventory.
This acquisition marks the first major acquisition for the company in the Greater New York area.
The acquisition, which will be used as corporate expansion space for the firm in the future, also marks the largest single office building sale in New Jersey so far this year. The firm recently launched a real estate development platform focused on well located properties in New York City and its environs and the firm is currently working on several large residential developments in Manhattan.
Totaling 325,000 s/f, this property incorporates three four-story wings of premier Class A multi-tenant corporate facility, which was built in 1982 and underwent an extensive redesign under the guidance of Gensler Architecture beginning in 2007. The outstanding creditworthy tenant roster is a testament to the desirability of the Morristown area as well as the recognition that the property offers a unique combination of factors not readily found within the submarket’s office inventory.
