Press Releases
CCA Makes Largest Office Acquisition in New Jersey

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 New Jersey and its first major acquisition in the United States.

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. “I’m very pleased with this acquisition and look forward to expending our real estate development and investment activity in the New York metropolitan area” said Mr. Ning Yuan, President of CCA. 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 325,000s/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.

CCA, established in 1985, is the U.S. subsidiary of the giant China-based construction firm CSCEC, which is the 3^rd largest construction company in the world and one of the largest real estate developers in Asia. With its headquarter located in Jersey City, New Jersey, CCA operates mainly in the Greater New York, South Carolina, Washington, DC and The Bahamas, providing general contracting/construction management services for commercial, residential, transportation and education projects. CCA is also responsible for the $3.6 billion Baha Mar Resort project in The Bahamas where it plays a combined role of construction manager, financial advisor and investor.

MEDIA CONTACT:
Sharon Zhang
+1 201 876 2788
zhang_xijing@chinaconstruction.us