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April 03, 2019  

Keystone Dealing Northern NJ Complex

Keystone Property is offering a Northern New Jersey office complex valued at about $95 million.The 487,000-square-foot property, in Morristown, was recently renovated. At the estimated value of $195/sf, the buyer’s initial annual yield would be 7.25%. HFF is representing Keystone, an investment manager in Conshohocken, Pa.The Class-A complex is at 412 Mount Kemble Avenue, a few miles from downtown Morristown. It’s 94% leased, with a...

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