Parkway 120 is a five-storey Class A multi-tenant office building located in Old Bridge, New Jersey.
The property is within the Central/Northern New Jersey Market with excellent access - just off Exit 120 of the Garden State Parkway. Grosvenor acquired the asset on behalf of a public pension fund client at below replacement cost. The asset is relatively new, but was only 46% leased at acquisition in August 2006.
The property is well leased to a strong tenant roster. Grosvenor is working with a local partner to reposition and enhance the value of Parkway 120.