NEWSROOM

TIAA-CREF Sells Mountain Lakes Corp. Park
Two-Bldg. Office Complex Sells to Grosvenor & Vision Equities for $15.2M

Grosvenor Investment Management U.S. and Vision Equities acquired the Mountain Lakes Corporate Park from TIAA-CREF for $15.2 million.

The two-building office complex is on an 18-acre campus at 1 and 49 Old Bloomfield Ave. in Northern New Jersey's Parsippany submarket. It includes the 49,477-square-foot Mountain Lakes I building, which is occupied by Pinnacle Foods Corp., and the 63,528-square-foot Mountain Lakes II building, occupied by Computer Horizons.

The deal also includes 64,000 square feet of land zoned for as-of-right development.

Matthew Schnurr, John Hoffman and Michael Harrington of Grubb & Ellis represented TIAA-CREF. The buyer was self-represented.


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