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Wednesday, May 23, 2012  

Office
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2/13/2008

CBRE brokers sale of Morristown, NJ office property


299_Madison_Ave_Dunne.jpg
299 Madison Ave.
TIAA-CREF has purchased a three-story office building in Morristown, N.J., from 299 Madison Realty Partners, LLC. Terms of the deal were undisclosed.

The seller was represented by Jeffrey Dunne, Jeffrey Oram and Kevin Welsh of CB Richard Ellis' New York Institutional Group, along with Thomas Mallaney and Daniel Casey of the firm's Saddle Brook office.

The office property is located at 299 Madison Ave. and contains 57,062 square feet. It is situated 1.5 miles from Morristown and less than a half mile from Morristown's Convent Station Train Station.

Dunne is the vice chairman of the NYIG, a 12-person team that specializes in New York and eastern second-tier cities. He was the Gale Company's Broker of the Year in 2002 and recently arranged the sale of a 148,131 square foot call center in Sergeant Bluff, Iowa to STAG Capital Partners.

Oram, an associate of the NYIG, is the former CIO and vice president of corporate real estate for TSR Wireless LLC. He works on all asset classes of real estate; office, multi-family, retail and industrial.

Welsh is a first VP with CBRE and is responsible for the company's New Jersey operation. He is a member of the NYIG and has completed $500 million of commercial real estate sales in the last 18 months.

Address: 299 Madison Ave., Morristown, N.J.

Size: 57,062 square feet


Filed Under: Office

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