NEW YORK (July 24, 2017) -- Harbor Group International, LLC (“HGI”) announced today that affiliates of the company have acquired 211 Mount Airy Road, a three story, 306,194 square foot office property located in Basking Ridge, New Jersey, approximately 35 miles from Manhattan, for $98.5 million.
The property is fully leased to the U.S. subsidiary of Daiichi Sankyo Company, Ltd., an A1 Moody’s credit rated company, on a long term lease.
“HGI continues to acquire Class A, single tenant suburban office properties in key markets,” said T. Richard Litton, Jr., President of Harbor Group International, “This recently redeveloped and renovated property boasts a credit tenant in an accessible, convenient suburban office location in proximity to New York City.”
Built in 1981 and thoroughly renovated in 2016/2017, the property now serves as Daiichi’s U.S. headquarters. Daiichi Sankyo, Inc. is ranked among the top 25 global pharmaceutical companies with over one hundred years in business. The property’s recent renovations included new HVAC systems, and interior upgrades. Amenities include a fitness center, cafeteria, training room facilities and a softball field.
Harbor Group International, LLC is a private real estate investment and management firm which controls a portfolio of worldwide assets valued in excess of $4.7 billion. HGI is headquartered in Norfolk, Virginia with offices in New York, Baltimore and Tel Aviv. The company’s real estate holdings include approximately 4.7 million square feet of commercial properties and in excess of 22,000 apartment units.