Property History
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Marketing Description
CBRE, Inc. has been retained as the exclusive advisor for the sale of 25 Hanover Road in Florham Park, New Jersey (“25 Hanover” or “Property”), consisting of two Class A buildings totaling 132,737 ± SF situated in a park-like setting just minutes from downtown Florham Park as well as Routes 10, 24 and 287. These buildings have been over 90% leased for over ten years.
Currently 100% leased to a diverse tenant roster of mostly local, entrepreneurial companies, there are 29 tenants in place, only three of which are larger than 10,000 SF providing mitigated risk within the rent roll. With a weighted average lease term of 3.65 years, an investor has the opportunity to capitalize on the currently below market rents and drive value in a short timeframe.
Investment Highlights
- 100% leased to a diverse, loyal tenant base providing secure cash flow
- Consistently over 90% leased for the last 10+ years
- In-Place NOI: $1,951,000±
- Weighted average lease term (WALT) of 3.65 years
- 10 – 20% below market rents; 30-40% below trophy rents in the market
- Downtown Florham Park is a two-minute drive (0.6 miles) providing easy access to a plethora of dining and shopping options
- Neighboring Morristown provides access to the millennial workforce so many employers are seeking
- The Property was renovated in 2018 including main lobby upgrades for both buildings and mechanical upgrades including a new chiller and cooling tower
Public Record 1
Public Record 2
Sale Date
Sold Price
Buyer Borrower 1 Corp Indicator
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Recording Book
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Seller 1 Corp Indicator
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Loan History
Financial History
Tax History
Contact Information
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Ownership Information
Zoning
P-B-2 MixedMixed UseProfessional And Business Zone Residential Appearance Required
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View all 11 uses
View all 11 uses Last updated Feb 3, 2026 For deeper zoning details, reports are available at Zoneomics
Property Details
Contacts
Listing removed on
BY:
Jeffrey Dunne
•••.•••.5841
••••.•unne@••••.com
Listing removed on
BY:
Jeremy Neuer
•••.•••.3047
••••••.•euer@•••.com
Map
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