Jones Lang LaSalle


Panorama Park Inc. Buys 7 Mercedes Drive for $5.2M

Campus Associates Sells 60,000-SF Building in Montvale
Campus Associates sold 7 Mercedes Drive in Montvale to Panorama Park Inc. for $5.2 million, or about $87 per square foot.

Built in 1975 on 5.9 acres, this 60,000-square-foot office building is located within a specialized economic development (SED) zone. The zone permits office use, as well as medical use, schools, and light manufacturing. The Montvale Parkway Campus is home to such corporate companies as Mercedes Benz, BMW, Hertz, Sony, The Ferolie Group and the Boro of Montvale. The location is central to the Garden State Parkway and Routes 17, 4, and 287.

The new owners plan to renovate and reposition this asset for future tenancy.
Jeff Kolodkin and Len Suskin of Grubb and Ellis represented the seller, while Gregg Kelman of GK Realty Services represented the buyer.