By Corina Stef
Real estate investment trust Mack-Cali Realty Corp. continues its non-core properties disposition plan with marketing for sale its Horizon Center Business Park, following its recent acquisition of a 26-building portfolio. Horizon Center comprises six office/flex buildings and two development sites totaling 300,000 square feet in Hamilton, N.J. Newmark Knight Frank Executive Managing Director Steven Schultz, Managing Director Tony Georgiev, Executive Managing Director Stephen Tolkach and Director Robert Loderstedt were selected to handle their marketing and sale.
The space is suited for high-tech and flex uses, while the RD-zoned vacant land sites offer various development opportunities for office, lab, medical, industrial, distribution and warehousing uses. The portfolio encompasses 236,000 square feet of space spread throughout 12.8 acres, encapsulating 100, 200, 300, 500 and 600 Horizon Drive. Amenities include efficient floor plates, 13-foot-high ceilings, individually controlled HVAC, advanced fiber optics and on-site jogging paths.
The complex is situated across from Hamilton Marketplace, minutes away from restaurants, banks and hotels. It is also located close to the New Jersey Turnpike, Interstate 295, Interstate 195, as well as routes 1 and 130, which provide easy access to major markets along the Northeast Corridor. Horizon Center is 86 percent occupied by 18 tenants, including AAA Mid-Atlantic Inc., First American Title and Regus.
“Well-positioned, near excellent mass-transit alternatives and convenient roadway access within the greater Princeton area, which is renowned for its affluent and highly educated population, the property retains an e-commerce edge and a startup twist for tenants,” Schultz said in a prepared statement.
Images courtesy of Mack-Cali Realty Corp.