700 Horizon Drive in Hamilton — Courtesy: Newmark Knight Frank
By Joshua Burd
Mack-Cali Realty Corp. has sold two triple-net-leased office properties in Hamilton, in a pair of deals announced Tuesday by Newmark Knight Frank.
Brokers with the firm’s capital markets team represented Mack-Cali in the sale of both 600 and 700 Horizon Drive, which total about 215,000 square feet, to different buyers. They are leased to Verizon Communications and AAA, respectively.
Terms were not disclosed. A private investor acquired 600 Horizon, a single-story office building that was built to suit as a call center in 2002, while VEREIT acquired 700 Horizon, a 120,000-square-foot complex with features such as advanced fiber-optics and on-site jogging paths.
The NKF team responsible for the deal included executive managing directors Steven Schultz, Kevin Welsh and Steve Tolkach, along with managing directors Tony Georgiev and Brian Schulz. The team noted that 600 and 700 Horizon Center Drive sit within the Horizon Center Business Park, touting them as being among the few Class A office buildings in the Hamilton submarket.
“Its prominent location right off Route 130 provides convenient access to regional thoroughfares and the greater Princeton market area,” Schultz said. “We’re pleased with the results, as we concluded Mack-Cali’s disposition strategy in this area.”
NKF also highlighted the region’s dense, skilled labor base and the buildings’ proximity to dining options, retailers and hospitality providers.
