PARSIPPANY — Arcadian Capital Group purchased 35 Waterview Boulevard from Mack-Cali Realty Corp for $29 million.
The 172,490-square-foot 35 Waterview Boulevard is located on approximately 12.9 acres of land and features 600 parking spaces. The building was constructed in 1990. The four-story office building had 15 tenants and was 95.7 percent occupied when bought by Arcadian Capital Group.
The Waterview Corporate Center is a six-building, Class A office complex totaling approximately one million square feet. The center is located at the intersection of Route 46, Route 202 and Interstate 287 and is less than a half-mile from I-80. The stretch of Route 46 three miles east and west of Waterview Corporate Center is one of northern Morris County’s most active retail corridors, including numerous restaurants, grocery stores, major retailers, hotels, bank branches and more.
Jones Lang LaSalle, (JLL), also arranged a joint venture partnership between PGIM Real Estate and developers JMF Properties, RD Management LLC and Ripco Real Estate Corp. for the development of Waterview Marketplace, a 150,150-square-foot shopping center that will be anchored by a 47,558-square-foot Whole Foods supermarket.
