CBRE on Monday announced the successful completion of a new 80,000-square-foot corporate headquarters, alongside the $6.85 million sale of an adjacent 6.5-acre industrial development site at 220 W. Clinton Street in Dover. Both transactions were completed on behalf of Dover Tubular Alloys.
The CBRE team of Thomas Mallaney and Denise Kokulak represented the seller in both deals. SL Acquisitions LLC (The Silverman Group) purchased the development site, with broker representation from Resource Realty.
The milestone marks the official completion of Dover Tubular Alloys’ brand-new home, which will house its executive offices and primary distribution headquarters. Immediately following the construction wrap-up, the CBRE team pivoted to finalizing the disposition of the neighboring land.
“Following the completion of construction of its new 80,000 sq. ft. executive office and distribution headquarters in a deal arranged by CBRE, we worked closely with our client on the disposition of the adjacent 6.5-acre site next to its new headquarters,” Mallaney said. “We are thrilled with the completion of Dover Tubular Alloys’ new home and gratified to complete the sale of the adjacent development site.”
The transaction, which officially closed last week, paves the way for further economic expansion in western Morris County. The 6.5-acre parcel is an approved development site, and the buyer already has major plans underway to maximize its potential.
SL Acquisitions LLC intends to develop a brand-new, state-of-the-art, 123,000-square-foot speculative industrial building on the property.
- Property Location: 220 W. Clinton Street, Dover, NJ
- Headquarters Size: 80,000 sq. ft. (Executive office & distribution)
- Land Sale Price: $6.85 million
- Site Size: 6.5 acres
- Seller’s Representation: Thomas Mallaney & Denise Kokulak (CBRE)
- Buyer: SL Acquisitions LLC / The Silverman Group (Represented by Resource Realty)
- Future Development: 123,000 sq. ft. speculative industrial building
