Jones Lang LaSalle
JLL Will Manage 340,000 SF of Offices
By Eric Peterson
PARSIPPANY, NJ-Jones Lang LaSalle’s New Jersey office here has picked up two separate property management assignments totaling 637,380 sf of class A office space. The properties are separately owned by Lexington Corporate Properties Trust and by Wells REIT.
The two assignments will be overseen by Ian King, the firm’s executive vice president, and by vice president David Steinthal. For the New York City-based Lexington, JLL will manage the 340,000-sf 379 Interpace Parkway building here. For the Atlanta-based Wells REIT, the firm will manage 400 Crossing Blvd. in Bridgewater.
"Both 379 Interpace Parkway and 400 Crossing Blvd. are premier office buildings," King says. "They are both highly visible and in attractive areas."
The 379 Interpace Parkway building, also known as Morris Corporate Center IV-Building, encompasses five floors with approximate 60,000-sf floorplates. The building features a four-story atrium, sits on 35 wooded acres and has a four-level parking garage, according to King. The building’s tenants include Sanofi-Aventis, Reckitt Benckiser and Cadbury-Schweppes.
The 400 Bridgewater Crossing, meanwhile, is part of a two-building office complex totaling nearly 600,000 sf. The 297,380-sf 400 building covers eight floors and is mostly occupied by Sanofi-Aventis, which uses the space as its North American headquarters. King Pharmaceuticals is also in the building.
Wells had just acquired the 400 building earlier this year from Capital Partners. As reported by GlobeSt.com, the sale price was not disclosed, but industry sources put the final number in the $80-million range. The Texas-based Hines originally developed the Bridgewater Crossing complex in the early 2000s, and Wells now owns both buildings, having acquired the 400 building’s twin a couple of years ago.
Copyright © 2006 ALM Properties, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.
JLL Will Manage 340,000 SF of Offices
By Eric Peterson
PARSIPPANY, NJ-Jones Lang LaSalle’s New Jersey office here has picked up two separate property management assignments totaling 637,380 sf of class A office space. The properties are separately owned by Lexington Corporate Properties Trust and by Wells REIT.
The two assignments will be overseen by Ian King, the firm’s executive vice president, and by vice president David Steinthal. For the New York City-based Lexington, JLL will manage the 340,000-sf 379 Interpace Parkway building here. For the Atlanta-based Wells REIT, the firm will manage 400 Crossing Blvd. in Bridgewater.
"Both 379 Interpace Parkway and 400 Crossing Blvd. are premier office buildings," King says. "They are both highly visible and in attractive areas."
The 379 Interpace Parkway building, also known as Morris Corporate Center IV-Building, encompasses five floors with approximate 60,000-sf floorplates. The building features a four-story atrium, sits on 35 wooded acres and has a four-level parking garage, according to King. The building’s tenants include Sanofi-Aventis, Reckitt Benckiser and Cadbury-Schweppes.
The 400 Bridgewater Crossing, meanwhile, is part of a two-building office complex totaling nearly 600,000 sf. The 297,380-sf 400 building covers eight floors and is mostly occupied by Sanofi-Aventis, which uses the space as its North American headquarters. King Pharmaceuticals is also in the building.
Wells had just acquired the 400 building earlier this year from Capital Partners. As reported by GlobeSt.com, the sale price was not disclosed, but industry sources put the final number in the $80-million range. The Texas-based Hines originally developed the Bridgewater Crossing complex in the early 2000s, and Wells now owns both buildings, having acquired the 400 building’s twin a couple of years ago.
Copyright © 2006 ALM Properties, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.
posted by Jones Lang LaSalle NJ News Blog at 8:40 AM
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