973-292-4624
300 Executive Dr, West Orange, NJ for Sale
Office - FOR SALE
1/16
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300 Executive Dr
West Orange, NJ 07052


HIGHLIGHTS

  • Recently renovated lobby, gym, and tenant lounge
  • 88% Occupancy represents immediate lease-up upside for a new landlord.

OVERVIEW

This ±129,298 SF multi-tenant office asset sits on 8.67 acres and is currently 96% occupied by 18 tenants. The property is uniquely positioned for long-term viability, as older obsolete buildings are removed from the submarket and flight to quality continues to dominate the market. 300 Executive Drive has undergone a substantial capital improvement plan over the past five years in order to establish it's position as a best-in-class asset. The three largest tenants—GEICO (19,506 SF), Ampersand (13,056 SF), and Bierman Autism Centers (10,824 SF)—collectively occupy approximately 36% of the rentable area. The balance of the rent roll is well-diversified across smaller tenants, supported by robust leasing activity post-COVID, including 12 new leases signed since the beginning of 2022, demonstrating it's strong demand.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Executive Hill Bldg

PROPERTY TYPE

Office

ADD'L SUBTYPES

Medical

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

508

LAND DETAILS

LAND ACRES

8.68 AC

LAND SF

378,101 SF

ZONING

OB-1

APN/PARCEL ID

22-00155-0000-00042

ASK ABOUT THIS PROPERTY

Andrew SchwartzCushman & WakefieldMore Info
973-292-4624

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Andrew SchwartzCushman & WakefieldMore Info
973-292-4624

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.