The 12-acre Horizon Center, which has been institutionally owned, managed and maintained since 2007, is currently 86 percent leased to 18 tenants.
“We are pleased to have completed this complex portfolio trade on behalf of Mack-Cali, which is part of its plan to dispose non-core assets,” NKF Capital Markets Executive Managing Director Steven Schultz said. “The premier Horizon portfolio is an excellent fit for Denholtz and a rare opportunity in one of a few core New Jersey suburban real estate submarkets.”
Denholtz Associates President Stephen Cassidy said the acquisition of the Horizon Center recognizes the strong growth trajectory of the Mercer County market and the unique prospects presented by this property.
“With a limited supply of quality office buildings in the area, the acquisition of this property will enable us to apply our in-house capabilities to bring the portfolio to full occupancy and provide strong returns to our investors,” Cassidy said.