Florham Park Corporate Center sold for $31.1M.

Byline: NJBIZ STAFF

Global commercial real estate firm Colliers International Group Inc. arranged the sale of Florham Park Corporate Center.

The 230,000-square-foot, twin Class A buildings were purchased by ACG for $31.1 million, Colliers announced on Monday.

Colliers represented both ACG, the buyer, and the seller, a joint venture of Iselin-basedBergman Real Estate Group and Rialto Capital Management LLC.

The three-story buildings at 25 Vreeland Road in Florham Park are 88 percent occupied, Colliers said, by 30 tenants. Before bringing the complex to market, Colliers Executive Managing Director Richard Madison and Associate Director Jack Callahan worked with Bergman Real Estate to secure leases, including with Atlantic Health Systems.

After the joint venture hit its leasing goals, Executive Managing Director Jacklene Chesler, Managing Director Matthew Brown and Senior Financial Analyst Frank Summers of Colliers were chosen to develop and acutalize the marketing strategy for the sale of the property.

"We are very thankful for the Colliers team's efforts over the...