Ivy Equities Buys Office Building for $18.7M

SECAUCUS, NJ-Ivy Equities, based in Montvale, NJ, has acquired 300 Harmon Meadow Blvd., a 125,000-sf office building here. The facility is located in the Meadowlands submarket of Northern New Jersey, just west of New York City.

The price tag for the asset was $18.7 million. The deal also includes the acquisition of a long-term ground lease for the adjacent Hampton Inn hotel property

The six-story 300 Harmon Meadow Blvd., built in 1983, is currently 100% occupied by a tenant roster that includes the Bank of America; Bank One; Verizon Wireless; Chasan, Leyner, Bariso & Lamparello PC; and the C.H. Robinson Co.

David Noonan of Newmark & Co. Real Estate represented the seller of the asset, Massachusetts Mutual, based in Springfield, MA. John Saraceni, chief investment officer for Ivy Equities, handled the acquisition for his company. Ivy Equities currently owns and manages a portfolio of more than three million sf of commercial property in the New York/New Jersey metro area.