Facebook Twitter LinkedIn Google Plus RSS

L'Oreal's Clark R&D facility sells for $15.8M

By ,

ANG Management has purchased 175-195 Terminal Ave. at the Clark Commercial Center, the home of L’Oreal’s North American R&D division, from Denholtz Associates for $15.84 million.

Real estate advisory firm Newmark Knight Frank announced the sale for the Clark property Monday.

According to NKF, the 108,000-square-foot building has been leased to L’Oreal since 1992 and is the only such center in the country, and just one of six worldwide.

Clark Commercial Center is a 10-building portfolio purchased by Denholtz in 2015 through a joint venture with MB1. After the purchase, Denholtz initiated capital improvements at the building which resulted in a long-term lease extension with L’Oreal, NKF said.

NKF Executive Managing Director Steven Schultz and Managing Director Tony Georgiev managed the deal.

Denholtz is a real estate development, investment and management company based in Matawan.

NKF has New Jersey offices in East Brunswick, Rutherford, Whippany, Morristown and Marlton.

You May Have Missed...

Jessica Perry

Jessica Perry


Jessica is the Web Editor for NJBIZ. You can reach her at jperry@njbiz.com.

Leave a Comment

test

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

Post Comment
View Comment Policy

Comments

close