Columbia Property Trust has sold a Florham Park office building to a manufacturing company that will relocate there from a nearby site, brokerage firm JLL said.
Financial terms were not disclosed in a news release from JLL, which represented the seller of the 250,600-square-foot property at 160 Park Ave. The buyer was Automatic Switch Co., an affiliate of Emerson Electric Co. that makes power-transfer switches.
The site is the former home of AT&T’s Shannon Laboratory and was home to telecommunications and mobile communications research and development. It sits with The Green at Florham Park, a 268-acre master-planned development at the site of the former ExxonMobil research center in Florham Park.
Automatic Switch will relocate from a 400,000-square-foot office at 50 Hanover Road, also in Florham Park, the news release said.
Columbia Property Trust was represented by Jonathan Meisel, Dennis McConnell and Dan Spero of JLL. Automatic Switch was represented by Curt Stanton with Paine/Wetzel TCN Worldwide in Chicago in conjunction with Christopher Kinum and Jules Nissim, with Cushman & Wakefield.
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