150 Morristown Road in Bernardsville — Courtesy: Cushman & Wakefield
By Joshua Burd
Denholtz Properties has sold a nearly 55,000-square-foot office building in Somerset County, in a newly announced deal by Cushman & Wakefield.
Brokers say the property, at 150 Morristown Road in Bernardsville, drew strong interest thanks in part to its location along Route 202 and proximity to Interstate 287, which is less than two miles from the property. The 54,845-square-foot building is leased to 17 tenants including Decile.Ten LLC, Shain Schaffer PC and Carbon Technologies LLC.
Cushman & Wakefield’s David Bernhaut, Andy Schwartz, Jordan Sobel and Andre Balthazard represented the seller and procured the buyer, 150 Morristown Road LLC. Terms were not disclosed.
“150 Morristown Road offers strong in-place cash flow, presenting investors with an excellent value-add opportunity,” Sobel said. “With direct access to Route 202, this property offers superior accessibility to all that the region has to offer.”
In a news release, C&W said 150 Morristown Road has covered parking, on-site vending and shops and restaurants near the building. Its access to Route 202 and I-287 allows for a 30-minute drive to Newark Liberty International Airport and a 15-minute drive to Morristown Municipal Airport.