622-628 Route 10 West in Whippany — Courtesy: Newmark Associates
By Joshua Burd
A landlord has sold a six-building industrial portfolio in Morris County for $34 million, according to executives with Newmark Associates.
In a news release, Newmark said it represented Douglas Properties LLC in the sale in the Whippany section of Hanover. The buildings include a 200,000-square-foot, four-building complex at 9 Whippany Road and two buildings totaling 92,000 square feet at 622-628 Route 10 West.
Newmark Senior Vice President Nancy Stanton-Tuckman handled the assignment for the Cedar Knolls-based firm.
The complex at 9 Whippany Road is about 80 percent occupied, the news release said. The buildings at 622-628 Route 10 West, which occupy 62,000 and 30,000 square feet, respectively, also include office and warehouse spaces.
Newmark said the remaining space at the two buildings are well-suited for lab, storage and light manufacturing. All three properties have easy access to interstates 287, 80, 280 and 78 and Route 24.
