PCCP, Vision Real Estate Acquire 66-Acre Office Campus in Morris Plains, New Jersey
MORRIS PLAINS, N.J. — PCCP and Vision Real Estate Partners have acquired 185 and 201 Tabor Road in Morris Plains, about 20 miles west of Newark. The purchase price was not disclosed. The 66-acre office campus is comprised of two properties. Built in 2006, 185 Tabor Road is a 240,000-square-foot Class A office building. Constructed in phases from the 1950s to the 1990s, 201 Tabor Road is a series of Class B and C buildings totaling 644,000 square feet. The buyers plan to demolish the existing structure and redevelop the site at 201 Tabor Road. The previous occupant, Johnson & Johnson, was the seller. John Alascio, Sridhar Vankayala and Noble Carpenter III of Cushman & Wakefield acted as exclusive advisor to Vision Real Estate Partners in arranging joint venture equity for the acquisition.