Business & Tech
Morris Office Space Fetches $45.4M on Mt. Kemble Avenue
Three-building commercial space is fourth acquisition by Keystone Properties this quarter.
One of the nation’s leading real estate investors just took some major property off the hands of Mack-Cali Realty Corporation for the sum of $45.4 million.
Keystone Property Group closed on the sale of 412 Mt. Kemble Avenue in Morris Township, adding to its portfolio in the tri-state area.
The space at 412 Mt. Kemble Avenue is made up of three, three-story buildings for a total of 475,100 square feet. The buildings are connected by two full-height atriums. Keystone expects to invest about $5.9 million in the property to improve building systems and infrastructure, amenities, and curb appeal.
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
The acquisition is the fourth New Jersey commercial property swooped up by Keystone this quarter, after it bought space in Piscataway and Woodcliff Lake.
The Mt. Kemble location includes a fitness center, café, executive parking garage, and dual power feeds.
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
