Hamilton, NJ — NKF Capital Markets announced its representation of Mack-Cali Realty Corporation in the sale of The Horizon Center, a 236,284 s/f, six-building and two development site portfolio in Hamilton, to Denholtz Associates. The NKF Capital Markets team led by executive managing director Steven Schultz and managing director Tony Georgiev represented Mack-Cali Realty Corporation, while NKF’s leasing team experts, executive managing director Steve Tolkach and director Robert Loderstedt, represented Denholtz. Senior managing director Dan Fromm aided Denholtz in securing financing.
The Horizon Center, institutionally owned, managed and maintained since 2007, is currently 86% leased to 18 tenants and boasts an impressive weighted average historical occupancy of 11.3 years. The properties included in the portfolio are 2 South Gold Dr., 100 Horizon Dr. 200 Horizon Dr., 300 Horizon Dr., 500 Horizon Dr., and 3 AAA Dr., a two-story office building; as well as the two additional land sites at 5 and 6 AAA Dr. with more than 12-acres combined and prime development potential.
“We are pleased to have completed this complex portfolio trade on behalf of Mack-Cali, which is part of its plan to dispose non-core assets,” said Shultz.” The premier Horizon portfolio is an excellent fit for Denholtz and a rare opportunity in one of a few core New Jersey suburban real estate submarkets.”