NAI Hanson, a New Jersey-based commercial real estate firm, announced that it had arranged the sale of the Boulevard Common office complex at 1140-1160 Parsippany Boulevard in Parsippany, New Jersey for an undisclosed sum. HGF Parsippany Blvd, LLC sold the 44,596-square-foot, class-A property to enterprise technology solutions provider Micro Strategies, Inc., which will occupy the complex's two buildings after relocating from Mt. Olive, New Jersey. The buyer was represented by Cushman & Wakefield in the deal.
"We're seeing increased interest among companies to purchase buildings they intend to occupy," said NAI Hanson senior vice president Josh Levering. "Buildings as well-maintained as Boulevard Commons have become attractive investment assets especially for growing companies that want to make long-term commitments the region. Property ownership is an expression that companies are committed long term and here to stay. Ownership indicates growth and prosperity with a desire to contribute to civic life in the community they locate."
According to Levering, Micro Strategies was impressed with the recently renovated complex's overall package of offerings, including its condition and state-of-the-art infrastructure, its window lines, the opportunity to brand through visible building signage and its convenient location -- less than one mile from Routes 287, 80 and 46, which enables direct driving access from every direction in Northern New Jersey.
For more news and information visit Blumberg Partners.