{"id":1004400323,"date":"2020-03-17T04:36:51","date_gmt":"2020-03-17T12:36:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004400323"},"modified":"2020-03-17T23:02:27","modified_gmt":"2020-03-18T07:02:27","slug":"brookwood-financial-affiliate-sells-new-jersey-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/","title":{"rendered":"Brookwood Financial Affiliate Sells New Jersey Office Asset"},"content":{"rendered":"<div id=\"attachment_1004400332\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004400332\" data-attachment-id=\"1004400332\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/morris-corporate-center-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg\" data-orig-size=\"640,480\" 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=\"Morris Corporate Center 2\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Morris Corporate Center 2&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg?w=640\" class=\"wp-image-1004400332 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg\" alt=\"Morris Corporate Center 2\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004400332\" class=\"wp-caption-text\">Morris Corporate Center 2<\/p><\/div>\n<p>An affiliate of Brookwood Financial Partners has sold Morris Corporate Center I and II, two office buildings in Parsippany, N.J., totaling 550,000 square feet. P3 Properties acquired the Class A property. According to Yardi Matrix data, the asset had last traded in 2014, when Brookwood paid $82.4 million to State Teachers Retirement System of Ohio for it. JLL represented the seller and procured the buyer in the current deal.<\/p>\n<p>The three- and four-story buildings are located at 300 Interpace Parkway and 1 Upper Pond Road, within a 182-acre master-planned office development. The properties feature 88,000-square-foot floorplates and such amenities as two cafes, a 5,000-square-foot fitness center and two conference areas. The buyer intends to improve the property by adding new amenities and expanding the use of outdoor spaces, according to CEO Harvey Rosenblatt.<\/p>\n<p>Completed in 1986, Morris Corporate Center I and II most recently underwent cosmetic renovation in 2015, according to Yardi Matrix. The properties were 67 percent leased at the time of sale, with Zurich Insurance, York Risk Services, Ipsos and ICAP on the tenant roster.<\/p>\n<p>Located some 3 miles northwest of the city center, the 31-acre site is less than 1 mile north of Interstate 80. The immediate area holds several hotels and Morris Hill Shopping Center is 2 miles east. The asset is also roughly 3 miles northwest of a 330,000-square-foot office building that changed hands in December, with<a href=\"https:\/\/www.commercialsearch.com\/news\/pag-investments-lands-31m-bridge-loan-for-new-jersey-deal\/\"> JLL securing the financing<\/a>.<\/p>\n<p>JLL Senior Managing Directors Jose Cruz and Kevin O\u2019Hearn, Director Mark Mahasky, Senior Directors Michael Oliver and Steve Simonelli, together with Associate Nick Stefans, were part of the Capital Markets team assisting the seller in the disposition.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company had purchased the two buildings totaling 550,000 square feet in 2014.<\/p>\n","protected":false},"author":870,"featured_media":1004400332,"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":[35559,32796,33270,41339,35302],"class_list":["post-1004400323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-new-york","category-latest","category-northeast","category-office","tag-brookwood-financial-partners","tag-jll","tag-jose-cruz","tag-p3-properties","tag-state-teachers-retirement-system"],"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>Brookwood Financial Affiliate Sells New Jersey Office Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brookwood Financial Affiliate Sells New Jersey Office Asset\" \/>\n<meta property=\"og:description\" content=\"The company had purchased the two buildings totaling 550,000 square feet in 2014.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-17T12:36:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-03-18T07:02:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Marinescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/\",\"name\":\"Brookwood Financial Affiliate Sells New Jersey Office Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg\",\"datePublished\":\"2020-03-17T12:36:51+00:00\",\"dateModified\":\"2020-03-18T07:02:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg\",\"width\":640,\"height\":480,\"caption\":\"Morris Corporate Center 2\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Brookwood Financial Affiliate Sells New Jersey Office Asset\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1\",\"name\":\"Adriana Marinescu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g\",\"caption\":\"Adriana Marinescu\"},\"description\":\"Adriana Marinescu is an associate editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in 2019.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/adriana-marinescu\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Brookwood Financial Affiliate Sells New Jersey Office Asset - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/","og_locale":"en_US","og_type":"article","og_title":"Brookwood Financial Affiliate Sells New Jersey Office Asset","og_description":"The company had purchased the two buildings totaling 550,000 square feet in 2014.","og_url":"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2020-03-17T12:36:51+00:00","article_modified_time":"2020-03-18T07:02:27+00:00","og_image":[{"width":640,"height":480,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg","type":"image\/jpeg"}],"author":"Adriana Marinescu","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/","url":"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/","name":"Brookwood Financial Affiliate Sells New Jersey Office Asset - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg","datePublished":"2020-03-17T12:36:51+00:00","dateModified":"2020-03-18T07:02:27+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg","width":640,"height":480,"caption":"Morris Corporate Center 2"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/brookwood-financial-affiliate-sells-new-jersey-office-asset\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Brookwood Financial Affiliate Sells New Jersey Office Asset"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1","name":"Adriana Marinescu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g","caption":"Adriana Marinescu"},"description":"Adriana Marinescu is an associate editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in 2019.","url":"https:\/\/www.commercialsearch.com\/news\/author\/adriana-marinescu\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Morris-Corporate-Center-2-e1584440205877.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004400323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/870"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004400323"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004400323\/revisions"}],"predecessor-version":[{"id":1004400605,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004400323\/revisions\/1004400605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004400332"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004400323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004400323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004400323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}