Newmark Associates Announces Sale of Building to National Organization; Boy Scouts of America Will Relocate to 15,000 SF Building in Cedar Knolls
Friday, March 8, 2013 • 7:17pm
Newmark Associates, Inc. recently announced the sale of a 15,000 SF industrial flex building in Morris County to Boy Scouts of America, Patriots’ Path Council. Currently located in Florham Park, New Jersey, the Council will establish its new headquarters at 1 Saddle Road in Cedar Knolls by the third quarter 2013.
Having previously sold a larger building for expansion purposes to the former owner of 1 Saddle Road, Newmark was well-suited to represent the former owner’s building for sale. Judith Tell Feldman and Deborah Myers, both Managing Directors at Newmark, brokered the transaction.
The Boy Scouts of America, Patriots’ Path Council, is a non-profit organization dedicated to preparing young people to make ethical choices over their lifetime by instilling in them the values of good character, citizenship and personal fitness through diverse service programs. Each year the Council serves over 17,000 youth members and 6,000 leaders in 476 local chapters in Morris, Somerset, Sussex, Union and parts of Middlesex counties, New Jersey. The Council will employ 30 people at the new facility where the expanded space will allow the staff to better serve scouts and volunteers.
The Council will be located in what has become an area that is home to corporate headquarters for various companies. Its excellent corner location and high visibility made it very appealing to the non-profit organization.
Very active in the Hanover Avenue/Horsehill Road area of Cedar Knolls, Newmark Associates Inc. has sold several Industrial/Flex buildings in the area. Among their successes in this area is the representation and sale of a 25,000 SF flex building on Saddle Road. Newmark was also responsible for the sale of a 53,000 SF building in the same area of Cedar Knolls. The buyer had unique requirements for combined office/lab space, and after extensive research, Newmark determined that a redevelopment of the building would satisfy the requirements of the purchaser.
Located in Cedar Knolls, New Jersey, Newmark Associates, Inc., has earned recognition as one of the top real estate brokerage companies by NJBIZ magazine, and the CoStar Commercial Real Estate organization. They specialize in lease and sales transactions, tenant and owner representation, and lease renegotiation as well as providing advisory and valuation services.
Certified as a woman-owned business by the Women’s Business Enterprise National Council, Newmark Associates, Inc. is registered as a Supplier Diversity provider with corporate members. Their clients range from regional, entrepreneurial firms to Fortune 500 companies.