Newmark Capital Markets is pleased to announce that it has represented Mack-Cali in the sale of 600 and 700 Horizon Drive, a two-building 100% NNN leased office portfolio in Hamilton, New Jersey. 600 Horizon is leased to Verizon Communications and 700 Horizon is leased to AAA. The transaction was completed by Newmark Capital Markets Executive Managing Directors Steven Schultz, Kevin Welsh and, as leasing expert, Steve Tolkach, as well as Managing Directors Tony Georgiev and Brian Schulz.
These buildings are among the few Class A office products in the Hamilton submarket. The regional location provides strong access to a dense, skilled labor base and is within minutes of a range of popular dining options, retailers and hospitality providers.
“600 and 700 Horizon Center Drive are located within the Horizon Center Business Park, one of the leading multi-purpose office campuses in the area. Its prominent location right off Route 130 provides convenient access to regional thoroughfares and the greater Princeton market area,” commented Steven Schultz. “We’re pleased with the results, as we concluded Mack-Cali’s disposition strategy in this area.”
600 Horizon, sold to a private investor, is a single-story office building that was built-to-suit as a call center in 2002. The space is highly functional and features a large floor plate with five entrances, backup power and generous parking space. 700 Horizon, sold to VEREIT, boasts similar impressive amenities including advance fiber-optics and on-site jogging paths. Both buildings are in a prime location for commuting and access to the major markets along the Northeast Corridor.
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 16,000 professionals operate from approximately 430 offices in established and emerging property markets on six continents.
We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
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