180 Park Ave. in Florham Park — Courtesy: Cushman & Wakefield
By Joshua Burd
The parent of Barnes & Noble College has leased more than 29,000 square feet of office space in Florham Park, in a newly announced deal by Cushman & Wakefield.
According to the brokerage team, the third-floor suite at 180 Park Ave. will serve as Barnes & Noble Education’s new U.S. headquarters. The independent public company expects to move in the fourth quarter from the Basking Ridge section of Bernards.
Cushman’s Brian Decillis and William O’Keefe represented the landlord, Vision Properties, in the 29,127-square-foot transaction. Gregg Najarian, Slava Vaynberg and Neel Shah of Savills represented BNED.
“We are proud to have executed this transaction, which highlights our ability to solve complex challenges in real time,” Vision Properties’ David Milewski said. “Coordinating BNED’s headquarters requirement with Maersk’s early downsizing preserved occupancy, protected value and reinforced 180 Park Avenue as a premier Class A asset. This reflects the type of hands-on, solutions-oriented asset management that drives long-term investor returns.”
The deal follows several other deals at 180 Park, a 228,350-square-foot property off Route 24, where C&W recently arranged three new long-term leases with Mariner Wealth Advisors, Finazzo Cossolini O’Leary Meola & Hager LLC and Rockefeller Capital Management. Those tenants and others have easy access to downtown Morristown and Madison, as well as restaurants, hotels, parks and major highway routes and NJ Transit rail service via daily shuttles.
“This notable headquarters lease with Barnes & Noble Education continues the recent leasing success at 180 Park, highlighting the flight-to-quality trend in the New Jersey suburbs, benefiting Class A assets and owners, like Vision Properties,” Decillis said. “With this transaction, 180 Park is now 90 percent leased, with only two spaces remaining.”
C&W added that 180 Park Ave. has a dramatic atrium lobby, a full-service cafeteria and coffee bar, a fitness center and studio, a tenant lounge, a conference center, garage parking and an outdoor patio with seating, WiFi and walking trails. The building is part of The Green at Florham Park, a master-planned campus that includes Summit Health, The Archer Hotel, The Ave Florham Park and the New York Jets training facility.
C&W: Vision Properties extends Maersk, inks new deals at Florham Park office building
