Lincoln Property Nabs NJ Office Building
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Parsippany, N.J.—HFF recently announced that it has closed the sale of 1 Gatehall Drive, a 114,000-square-foot, four-story, Class A office building in Parsippany, N.J. HFF represented the seller, Glenborough, in the sale of the asset to Lincoln Property Co.
Situated along Route 202, 1 Gatehall Drive is in close proximity to Route 10 and Interstates 287 and 80. Built in 1983 and renovated in 2004, the Energy Star building features a two-story lobby atrium with a skylight, several common areas, shared conference room, dining area and a fitness center. According to Yardi Matrix data, the property has 550 parking spaces and three elevators. The property shares a fountain courtyard with an adjacent office building. It is also next door to a Marriott Residence Inn…
