May 14, 2020 – JLL Capital Markets announced today that it has closed the sale of Mountain Heights Corporate Center, a two-building, Class A office complex totaling nearly 303,000 square feet in Berkeley Heights, New Jersey.
JLL represented the seller, EverWest Real Estate Investors, and procured the buyer, Signature Acquisitions.
Mountain Heights Corporate Center is located at 420 and 430 Mountain Avenue in the prestigious Interstate 78 Corridor submarket of Northern New Jersey. This location offers convenient access to Manhattan and Newark Liberty Airport as well as many shopping and dining options in downtown Berkeley Heights and Summit. The property features covered executive parking, a full-service cafeteria and a fitness center with locker rooms. Recent renovations made to the complex led to a surge in new leasing, which resulted in occupancy of nearly 80%.
“This transaction is a testament to the hard work completed by all involved despite the very challenging economic environment,” Cruz stated.
The JLL Capital Markets team representing the seller included Senior Managing Directors Jose Cruz and Kevin O’Hearn and Senior Directors Steve Simonelli and Michael Oliver.