Sale of suburban New Jersey office building completed

MORRISTOWN, N.J., Oct. 14, 2024 –  JLL Capital Markets announced today that it closed the sale of 10 Park Ave., a Class A office building totalling 154,777 square feet in Hanover Township, New Jersey.

JLL completed the off-market sale on behalf of the seller, Ravine Development Co. LLC.

10 Park Ave. is positioned on 8.69 acres at the corner of Park Ave. and Columbia Tpke., just off of New Jersey State Route 24 and approximately three miles from I-287. Completed in 2001, the three-story property is the former home of MetLife Investment Management.

The JLL Capital Markets Investment Sales and Advisory team worked in collaboration with the leasing team which represented ownership providing the client with full benefit of the robust JLL platform. The team included Dan Loughlin, Vice Chairman, Senior Managing Directors Jeremy Neuer and Jose Cruz, Executive Vice President Charlie Dillon, Managing Director Bob Ryan, Director Ryan Robertson and Senior Analyst Pranav Patel.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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