{"id":1004236275,"date":"2018-06-22T00:07:28","date_gmt":"2018-06-22T08:07:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004236275"},"modified":"2018-06-22T00:07:28","modified_gmt":"2018-06-22T08:07:28","slug":"pccp-jv-grabs-former-nj-johnson-johnson-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pccp-jv-grabs-former-nj-johnson-johnson-campus\/","title":{"rendered":"PCCP JV Grabs Former NJ Johnson &#038; Johnson Campus"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004236281\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/7053.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004236281\" data-attachment-id=\"1004236281\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/pccp-jv-grabs-former-nj-johnson-johnson-campus\/attachment\/7053\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/7053.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"185 Tabor Road, Morris Plains, N.J.\" data-image-description=\"&lt;p&gt;185 Tabor Road, Morris Plains, N.J.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;185 Tabor Road, Morris Plains, N.J.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/7053.jpg?w=1000\" class=\"wp-image-1004236281 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/7053.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/7053.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/7053.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/7053.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004236281\" class=\"wp-caption-text\">185 Tabor Road<\/p><\/div>\n<p>PCCP and Vision Real Estate Partners have teamed up in the acquisition of a 66-acre corporate campus in Morris Plains, N.J. The seller, Johnson &amp; Johnson, took ownership of the site following the 2006 purchase of Pfizer&nbsp;Consumer Healthcare.<\/p>\n<p>The campus encapsulates three buildings totaling 884,000 square feet of office\/R&amp;D space. The first one is situated at 185 Tabor Road and is a Class A asset completed in 2006. It is also one of the county\u2019s newest facilities. Amenities include modern building systems, open floor plans, improved mechanical systems and 892 parking spots. The other buildings are located at 201 Tabor Road and include two interconnected Class B and C assets built in phases between 1955 and the 1990s. The new owners plan to demolish the existing structures and redevelop the site.<\/p>\n<p>Morris Plains Train Station, interstates 287 and 80, as well as routes 202 and 10 are located nearby and provide easy and quick access throughout the area. Transportation is also facilitated by two New Jersey transit rail lines which connect the town to New York City, Newark, N.J., and Hoboken, N.J.<\/p>\n<h2>Strong corporate presence<\/h2>\n<p>The campus was previously owned by Warner-Lambert and Pfizer and it is currently positioned within Honeywell\u2019s global headquarters. The area is occupied by a diverse roster of tenants from the financial services, insurance, pharmaceuticals, biotech, telecommunications, electronics and transportation sectors. Due to the high concentration of quality employers and its transit-oriented status, Morris County ranked as the 11<sup>th<\/sup> wealthiest county in the U.S., according to the Census Bureau.<\/p>\n<p>A Cushman &amp; Wakefield Equity, Debt &amp; Structured Finance team comprising Managing Director John Alascio, Senior Director Sridhar Vankayala and Associate Noble Carpenter, III arranged a joint venture equity for the acquisition on behalf of Vision Real Estate Partners, which <a href=\"https:\/\/www.commercialsearch.com\/news\/vision-real-estate-expands-nj-office-footprint\/\">continues its buying spree<\/a>.<\/p>\n<p>\u201c<em>We look forward to launching our plans to integrate and transform the campus to offer a mix of high-tech office, lab and light industrial space in an amenity-rich environment<\/em>,\u201d Vision Real Estate Partners Founder &amp; Managing Director Sam Morreale said in a prepared statement.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The corporate campus spreads across 66 acres in Morris Plains, N.J., and two out of three buildings are awaiting redevelopment into high-tech office, lab and light industrial space. <\/p>\n","protected":false},"author":241,"featured_media":1004236281,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1600,21742,10,21747],"tags":[32799,33053,32915,33728],"class_list":["post-1004236275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-new-york","category-latest","category-northeast","category-office","tag-cushman-wakefield","tag-pccp-llc","tag-united-states-census-bureau","tag-vision-real-estate-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PCCP JV Grabs Former NJ Johnson &amp; 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