PARSIPPANY – October 31, 2020 – A joint venture of Harbor Group International, LLC (“HGI”), a privately-owned international real estate investment and management firm, and Turnbridge Equities (“Turnbridge”), a vertically integrated real estate investment and development firm, and their affiliates, today announced the sale of 100 Jefferson Road, an industrial property located in Parsippany, NJ, for $85.25 million.

The 550,000 square foot property was acquired by HGI and Turnbridge in October of 2018 from PNY Technologies, the primary tenant of the property for $60.3 million.  

“HGI acquired 100 Jefferson as part of our Last Mile Industrial initiative, targeting industrial properties with direct access to key urban markets,” said T. Richard Litton, Jr., President of HGI, “We successfully implemented a $4.2 million capital improvement plan and executed our leasing strategy, adding significant value to the property.”  

100 Jefferson is occupied primarily by PNY Technologies and Vitaquest.

About HGI

Harbor Group International (HGI) is a leading global real estate investment and management firm. With $12.5 billion in real estate investment properties, the firm invests in and manages diversified property portfolios including office, retail, and multifamily properties. With over 35 years of experience in the industry and over 1,000 employees worldwide, HGI continues to look for real estate investment opportunities.

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Harbor Group International controls $12.5 billion in real estate investments and is constantly exploring real estate investment opportunities in the worldwide market.