{"id":1004523854,"date":"2021-04-23T09:50:00","date_gmt":"2021-04-23T17:50:00","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004523854"},"modified":"2021-05-15T10:28:05","modified_gmt":"2021-05-15T18:28:05","slug":"p3-properties-sells-new-jersey-office-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/p3-properties-sells-new-jersey-office-campus\/","title":{"rendered":"P3 Properties Sells New Jersey Office Campus"},"content":{"rendered":"
\"\"<\/a>

Broadacres Office Park. Image courtesy of Cresa<\/em><\/p><\/div>\n

P3 Properties has sold the 385,000-square-foot Broadacres Office Park in Bloomfield, N.J. ERCT Capital Group acquired the four-building property, even though the asset was not marketed for sale at the time. CommercialEdge data shows the campus last traded in 2017.<\/p>\n

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READ ALSO<\/strong>: Top 5 NYC Office Building Sales\u2014March 2021<\/a><\/p>\n

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Located at 1455 Broad Street and 200, 300 and 400 Broadacres Drive, the campus is less than 3 miles from the interchanges of routes 3 and 46, less than 16 miles from Midtown Manhattan and some 22 miles from Newark Liberty International Airport. Completed in 1997, the four-story buildings underwent renovations in 2001 and 2006, according to CommercialEdge information. Common-area amenities include a newly built gym, on-site cafeteria and 1,226 parking spaces At the time of sale, the property was 91 percent leased.<\/p>\n

Managing Principals Dennis Gralla and James Scancarella, along with Principal Jonathan Marks from Cresa arranged the transaction on behalf of the buyer. The seller was self-represented.    <\/p>\n

In March last year, P3 Properties bought Morris Corporate Center I and II<\/a>, two office buildings in Parsippany, N.J., totaling 550,000 square feet. The asset is located within a 182-acre master-planned office development.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Broadacres Office Park in Bloomfield was 91 percent leased at the time of the sale. <\/p>\n","protected":false},"author":748,"featured_media":1004528097,"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":[34279,41339],"class_list":["post-1004523854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-new-york","category-latest","category-northeast","category-office","tag-cresa","tag-p3-properties"],"acf":[],"yoast_head":"\nP3 Properties Sells New Jersey Office Campus - 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\/p3-properties-sells-new-jersey-office-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"P3 Properties Sells New Jersey Office Campus\" \/>\n<meta property=\"og:description\" content=\"The Broadacres Office Park in Bloomfield was 91 percent leased at the time of the sale.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/p3-properties-sells-new-jersey-office-campus\/\" \/>\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=\"2021-04-23T17:50:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T18:28:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Broadacres-3-e1619179554739.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1448\" \/>\n\t<meta property=\"og:image:height\" content=\"1086\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lucia Morosanu\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/p3-properties-sells-new-jersey-office-campus\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/p3-properties-sells-new-jersey-office-campus\\\/\"},\"author\":{\"name\":\"Lucia Morosanu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1077c2cf363c47bc75d1ab4c42b53bb5\"},\"headline\":\"P3 Properties Sells New Jersey Office Campus\",\"datePublished\":\"2021-04-23T17:50:00+00:00\",\"dateModified\":\"2021-05-15T18:28:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/p3-properties-sells-new-jersey-office-campus\\\/\"},\"wordCount\":201,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/p3-properties-sells-new-jersey-office-campus\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/05\\\/Broadacres-3-e1619179554739.jpg\",\"keywords\":[\"Cresa\",\"P3 Properties\"],\"articleSection\":[\"Deals\",\"New York\",\"News\",\"Northeast\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/p3-properties-sells-new-jersey-office-campus\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/p3-properties-sells-new-jersey-office-campus\\\/\",\"name\":\"P3 Properties Sells New Jersey Office Campus - 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