25 Hanover Road in Florham Park — Courtesy: CBRE
By Joshua Burd
The Silverman Group has sold a two-building office complex in Florham Park, fetching $24.5 million for the nearly 133,000-square-foot property.
According to CBRE, which brokered the sale, a privately held real estate firm purchased the campus at 25 Hanover Road, which is fully leased to a diverse tenant roster. The brokerage team added that two of the site’s largest tenants have been in place for more than 15 years, while citing its location minutes from the borough’s downtown.
CBRE’s Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Fahri Ozturk, Rich Gatto, Travis Langer and Daniel Blumenkrantz represented Silverman in the sale of the 132,737-square-foot park and procured the buyer.
“The Silverman Group has done a tremendous job maintaining a high-quality asset and strong relationships with the tenants evidenced by the superb historical occupancy,” said Neuer, an executive vice president with CBRE. “The buyer was diligent in pursuing the asset because they are committed to the market, having acquired a nearby asset in 2021. 25 Hanover provides the buyer with another high-caliber asset in an amenity rich pocket of the Morris County submarket.”
