ENGLEWOOD CLIFFS, N.J. — LG Electronics has acquired an office complex in Englewood Cliffs from Piedmont Office Realty Trust for $55 million. The 27-acre property, which is located at 111 Sylvan Ave., consists of five interconnected buildings containing 410,000 square feet of office space. Citicorp North America currently occupies the campus under a short-term lease. LG did not release its immediate plans for the property but could possibly use it as an expansion of the company's U.S. headquarters. Jeffrey Dunne and Kevin Welsh of CB Richard Ellis' (CBRE) New York Institutional Group partnered with David Opper and Cheryl Hardt of CBRE's Saddlebrook, N.J., office to represent the seller. John Oh of CBRE's New York City office and Paul March of the firm's East Brunswick, N.J., office represented the buyer.
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