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HFF Closes Biggest Land and Mixed-Use Sale in New Jersey for 2014

Thursday, January 22, 2015

On January 21, 2015, HFF closed the sale of a 205.6-acre land and mixed-use property site considered to be the largest in acreage in New Jersey during 2014. Part of the larger Giralda Farms complex located in both Madison and Chatham, New Jersey, HFF worked exclusively on behalf of the seller, an entity owned by a CMBS trust, acting by and through its special servicer.

Land and Mixed-Use Property Details

Located along Route 124 (Madison Avenue) on the border of Madison and Chatham in Morris County near both Interstate 287 and Route 24, the land and mixed-use site is three miles from Morristown, 18 miles from Newark Liberty International Airport and 25 miles west of Manhattan. The site is split into four main parcels including:

  • Madison Parcel (Block 2202, Lot 1), 40.1 acres, 436,000 square feet of office space
  • Chatham Parcel (Block 142, Lots 1 and 2), 131.63 acres, 750,000 square feet of office space on
  • Chatham Woodland Parcels (Block 141, Lots 7, 8 and 9.04), 33.86 acres, residential zoned

The HFF investment sales team was led by senior managing director Jose Cruz, managing director Kevin O’Hearn and supported by senior managing director Andrew Scandalios.

HFF New Jersey is consistently acclaimed as one of the top commercial real estate offices in New Jersey. Ranked as the No. 1 Sale Broker in 2014 by the Mid-Atlantic Real Estate Journal and a Power Broker by CoStar, HFF New Jersey was also involved in the largest industrial sale and largest financial deal in the state in 2014.

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