131 MORRISTOWN ROAD
BASKING RIDGE, NJ
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As exclusive agent, Cushman & Wakefield is pleased to offer a 100% fee interest in 131 Morristown Road (“the Property”) for sale. Situated on an expansive 34-acre site immediately off of I-287, the Property consists of two-interconnected office buildings totaling 210,294 SF. These two-story buildings are linked via a skybridge walkway over a manicured central outdoor courtyard, with the south building containing an amenity package that includes a cafeteria and a fitness center. Moreover, the Property benefits from visibility and frontage along Route 202, offering convenient local access throughout some of the wealthiest executive housing communities in NNJ.
The Property has historically served as the HQ location of UnitedHealth Group (NYSE: UNH), who has continued to maintain a presence within the campus and is currently the Property’s anchor tenant. UHG has remained committed to the Property, and will continue to occupy 62,606 SF through Nov-2025. As such, 131 Morristown Road presents a unique value-add opportunity. By implementing an amenity based rebranding and repositioning strategy, investors will have the potential to re-tenant and grow NOI by $3.4MM within 5 years.
The Property is located in Basking Ridge, NJ – historically one of the State’s corporate HQ meccas - and just 6 miles south of vibrant transit-oriented downtown Morristown. 131 Morristown Road’s location will continue to attract key tenants predominantly within the pharmaceutical and health services, life sciences, insurance, and tech industries, among others due to its immediate I-287 access and ability to draw from a deep, highly-educated labor force and executive community.
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Attractive Basis /
Value-Add Potential
• Potential to increase NOI by $3.4M
• Opportunity for rebranding via cosmetic upgrades/full amenity package
• Former corporate location for UnitedHealth Group (NYSE:UNH)
• Caters well to large users and local corporate tenant base / potential for multi-tenant strategy
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Location,
Location, Location
• The Property is located 6 miles south of downtown Morristown
• Proximity to numerous local amenities including lifestyle centers, fine restaurants, retail shopping, and hotels, just to name a few
• Serene setting in the hills of Somerset County with easy access to all parts of the New York Metropolitan area
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Access to Global Markets
• 30 minutes to Newark Liberty International Airport and 15 minutes to Morristown Municipal airport makes 131 Morristown Road accessible for clients and customers around the world
• Access to over 10 million people within a 1-hour drive
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PARKING
1,052 (5.0 / 1,000)
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ANDREW J. MERIN
Executive Vice Chairman
+ 1 201 460 3358
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DAVID W. BERNHAUT
Executive Vice Chairman
+ 1 201 460 3356
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H. GARY GABRIEL
Executive Vice Chairman
+1 201 460 3352
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KYLE SCHMIDT
Executive Director
+1 201 508 5303
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FRANK A. DITOMMASO II
Managing Director
+1 201 508 5303
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ANDREW SCHWARTZ
Managing Director
+1 973 292 4624
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JORDAN SOBEL
Director
+1 973 292 4633
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BILL BAUNACH
Senior Analyst
+1 201 508 5270
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JOHN ALASCIO
Vice Chairman
+1 212 841 9238
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CHUCK KOHAUT
Senior Director
+1 201 508 5219
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TJ SULLIVAN
Senior Director
+1 212 841 7977
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WILLIAM O'KEEFE
Managing Director
+1 973 908 6101
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Cushman & Wakefield, LLC | Capital Markets
One Meadowlands Plaza, 7th Floor, East Rutherford, NJ
+1 201 935 4000
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© 2022 Cushman & Wakefield. All rights reserved. The information contained in this communication is confidential, may be privileged and is intended for the exclusive use of the above named addressee(s). If you are not the intended recipient(s), you are expressly prohibited from copying, distributing, disseminating, or in any other way using any information contained within this communication. This information has been obtained from sources believed to be reliable but has not been verified. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) REFERENCED HEREIN OR AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). ANY PROJECTIONS, OPINIONS OR ESTIMATES ARE SUBJECT TO UNCERTAINTY AND DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE. This e-mail may be considered advertising under federal law. |
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