PEAPACK, N.J. — CB Richard Ellis (CBRE) has brokered the sale of a leasehold interest in an office park in Peapack for $23 million. The property, which is located on 70 acres at 100 Route 206 North, consists of 10 connected buildings totaling approximately 518,000 square feet of space. It was built in 1982 as a campus for Beneficial Management but was most recently occupied by Pfizer, which also holds the fee interest in the property. The seller for the leasehold interest was Hamilton Associates LP, and the buyer was Pharmacia & Upjohn Company LLC, an entity controlled by Pfizer. Jeffrey Dunne, Kevin Walsh and Christopher Leonard of CBRE's New York Institutional Group teamed up with Bill Moylan of CBRE's Boston office to represent the seller.
103
previous post