Business Services Industry
Hackensack, N.J., office complex in new hands.
Knight Ridder/Tribune Business News, September, 2004
By Kathleen Lynn, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News
Sep. 8--HACKENSACK, N.J. -- Normandy Real Estate Partners of Morristown has bought Continental Plaza, an office complex in Hackensack, for $108.5 million, Normandy said Tuesday.
Normandy, acting in a joint venture with Morgan Stanley and Wafra Investment Advisory Group, borrowed $88 million for the deal.
The previous owners were Stellar Management and Brack Capital Real Estate.
Continental Plaza, which is on Hackensack Avenue just off Route 4, has three office buildings and a T.G.I. Friday's restaurant on 12 acres. It has about 100 tenants, including UBS PaineWebber, Fujitsu Computer Systems, and the Schubert Organization/Telecharge. It has an...
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