As exclusive agent, Cushman & Wakefield is pleased to offer a 100% fee interest in 2 Peach Tree Hill Road for sale. This 30.8 acre property is ideally located between Routes 10 and 24 within one of NJ's most affluent communities ($284,000 AHHI). The site is improved with a 226,250 SF office / data-center which formerly served as a critical location for a Global Financial Services firm, and will be delivered vacant, presenting potential purchasers with a variety of repositioning or redevelopment options. Permitted uses include a corporate office or "as-of-right" redevelopment as senior care, educational, medical, self-storage, or data center. The site also provides an opportunity for potential rezoning and redevelopment as industrial or multifamily, consistent with adjacent uses.
2 Peach Tree Hill Road is located minutes from I-78 (east/west), I-287 (north/south), and I-280 (east/west) providing momentary access to nearby Downtown Madison, Summit, Morristown, and NYC as well as several of NNJ’s wealthiest C-suite communities. 2 Peach Tree Hill Road represents a rare opportunity for users, investors, or developers to acquire an office / data center site of scale within an evolving commercial neighborhood in one of NNJ's most sought after regions.
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UNIQUE NNJ REDEVELOPMENT OPPORTUNITY WITH EXISTING INFRASTRUCTURE
• 226,250 SF vacant data-center with heavy power (4,000 amps), 4.0 per 1,000 parking, and high existing impervious coverage
• +/-30.8 acre rectangular corner lot, multiple potential access points / curb-cuts
• Ideally located between Routes 10 and 24, New NJ transit bus stop at property entrance
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RAPID COMMERCIAL REDEVELOPMENT | DYNAMIC & EVOLVING NEIGHBORHOOD
• Adjacent uses include recently constructed industrial, multifamily, education, self-storage, & medical
• Neighboring CIT Office HQ redeveloped as Class-A industrial; leased prior to completion and sold in May 2023
• New “Highgate at Livingston” (169 unit luxury apartment development) recently approved at site of former Eisenhower Parkway Office HQ
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IDEAL DEMOGRAPHICS
• High density location with 2,254 people per square mile in Livingston, nearly double the NJ average
• Extremely affluent consumer base with average household income of $284,000
• Access to growing retail amenity base and NJ's largest top rated hospitals St. Barnabas Health & Morristown Medical Centers
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COMPELLING MARKET FUNDAMENTALS + DEMAND DRIVERS
• Suburban Essex & Morris County Class-A industrial asking rents exceeding $18.50 PSF + 4% annual steps
• Newly constructed low-rise multifamily developments commanding $3.75 PSF rents
• Extreme barriers to entry, topography restrictions, NIMBYism
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ADDRESS
2 Peach Tree Hill Road
Livingston, NJ
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ACREAGE
30.82 Acres
(Corner Lot)
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BUILDING AREA
226,250 (Will be delivered vacant)
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R-L ZONING: RESEARCH LABORATORY DISTRICT |
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- Executive and administrative offices
- Laboratories
- Schools
- Ambulatory care facilities
- Long term adult care facilities
- Continuing care facilities
- Financial institutions other than banks
- Data centers
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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 Managing Director
+ 1 201 508 5266
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NIKO NICOLAOU
Vice Chairman
+ 1 201 426 2227
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RYAN DOWD
Managing Director
+ 1 201 508 5278
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SETH ZUIDEMA
Associate Director
+ 1 201 508 5321
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LOUIS D'AVANZO
Vice Chairman
+1 212 841 7688
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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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Cushman & Wakefield, LLC | Capital Markets
One Meadowlands Plaza, 7th Floor, East Rutherford, NJ
+1 201 935 4000
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© 2023 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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