follow us:Google+ FacebookLinkedInTwitterRSS Feeds

advertisement

With 3rd acquisition, Silverman Group launches strategy to market Bernards

By

Back to Top Comments Email Print

News You Can Use

Latest News

    advertisement

    A Millburn-based development firm has acquired the last of three neighboring office buildings in Somerset County, with plans to now market the properties as a 525,000-square-foot campus with shared amenities.
    The firm, the Silverman Group, said Thursday it had purchased 106 Allen Road, in the Basking Ridge section of Bernards. The 133,000-square-foot building will join 150 and 110 Allen Road in a cluster that the company has branded as The Offices at Liberty Corner, located at Exit 33 of I-78.

    In a news release, Silverman said it will make several improvements at its newest building, but tenants at each property will have access to facilities in other two, like a gym and conference space at 150 Allen Road. The property has 61,000 square feet of vacant space.

    "Strategically we saw the acquisition of 106 Allen as a way to incorporate an office campus feel with shared amenities amongst all three buildings," Blake Silverman, the firm's president, said in a prepared statement.

    Bill Brown and Ben Brenner, from Cushman & Wakefield's Morristown office, have been tapped to market and lease the new building, as they have for the other two. The news release said Silverman acquired 150 Allen Road in 2010 and 110 Allen Road in 2011; the firm has since filled both with tenants, leaving only about 11,000 square feet of vacancy in the latter.

    The sale price was not disclosed.

    Current tenants at the complex include Ace Insurance, Oracle, Regeneron Pharmaceuticals and Ipsen Biopharmaceuticals, the press release said.

    Reporter Joshua Burd is @JoshBurdNJ on Twitter.

    Share This Story On:
    Joshua Burd

    Joshua Burd

    Josh Burd covers real estate, economic development and sports and entertainment. Before joining NJBIZ in 2011, he spent four years as a metro reporter in Central Jersey. His email is joshb@njbiz.com and he is @JoshBurdNJ on Twitter.

    advertisement

    Comments


    Be the first to comment.



    Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

    Post Comment
         View Comment Policy

    Advanced search
    Sponsored by
    advertisement
      
      
    advertisement
      
      
    advertisement
    Back to Top