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Ivy, Intercontinental Sells Morris Corporate Center IV for $27.1M

Rubenstein, Vison Buy 360,000-SF Office in Parsippany
January 30, 2018
Ivy Realty Services LLC and Intercontinental Real Estate Corporation sold the Morris Corporate Center IV office building at 369-379 Interpace Pky in Parsippany, NJ to Rubenstein Partners LP and Vision Real Estate Partners LLC for $27.1 million, or approximately $75 per square foot.

The two Class A office buildings total 359,671 square feet. They were built in 2000 by Lincoln Property Company (LPC) in Morris County. The 379 Interpace building totals 171,650 square feet, while 369 Interpace totals 188,021 square feet.

Kevin Welsh, Brian Schulz, Charles Kohaut, Steven Schultz and David Simson with Newmark Knight Frank represented the sellers. The buyers handled the sale in-house.

Please see CoStar COMPS #4111476 for additional information on this transaction.
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