BHN Associates Grabs Another NJ Office Park
- Jul 03, 2018
BHN Associates has acquired The Office Court of Ramsey, an 11-building office park in Ramsey, N.J. The seller, a private investor, disposed of the property for $10.8 million.
The Office Court of Ramsey sits on 8.5 acres at 500 Lake St., next to the Route 17 commercial and retail corridor. Multiple retailers, fitness centers, a bank and eateries are located within talking distance, while the nearby Garden State Parkway, New York Thruway and Interstate 287 provide access to and from the area’s key points.
The 78,000-square-foot campus is surrounded by lush landscapes, ponds and walking paths and offers a variety of amenities and services such as:
- flexible layouts
- private entrances
- individual HVAC control
- abundant parking
- 24/7 access
- dog park
The office suites range between 200 and 5,000 square feet. At the time of sale, the property was 95 percent leased to more than 100 tenants.
Cushman & Wakefield Vice Chairman Andrew Merin, Director Andrew Schwartz and Ryan Larkin represented the seller in the transaction. Additionally, a Merin-led Cushman team brokered the sale of Monmouth Shores Corporate Park in Wall Township, N.J., which BHN Associates acquired last April.
“The Office Court of Ramsey is truly one of a kind,” Schwartz said in a prepared statement. “It was designed specifically for small users and corporate executives that live in the surrounding towns and prefer a business location close to home. This property’s diversified rent roll and lack of alternative ‘like’ options in the local market offers reduced risk.”
Image courtesy of Cushman & Wakefield