Cushman & Wakefield on Monday announced the firm arranged the sale of a prime 55-acre redevelopment site located at 50 Hanover Road in Florham Park. The property, which formerly served as the headquarters for Automatic Switch Company, was sold by The Northern Trust Company, as Trustee of the Emerson Charitable Trust, to Garden Homes for an undisclosed sum.
The Cushman & Wakefield team, including David Bernhaut, Ryan Dowd, Niko Nicolaou and JP Hohl, partnered with Brian Whitmer of RePropCo to represent both the buyer and the seller in the transaction.
This sale represents one of the largest redevelopment opportunities in eastern Morris County. Garden Homes plans to transform the site into a high-quality residential community featuring 305 age-restricted multifamily units. Crucially, 61 of these units will be designated as affordable housing, which will support Florham Park Borough’s fair share housing obligation.
“We’re proud to play a role in a project that revitalizes an underutilized site while delivering high-quality housing in one of Morris County’s most sought-after communities. The site’s prime location made it a compelling strategic investment for the buyer, who is committed to supporting regional housing needs,” Dowd said.
Whitmer added that the transaction “underscores the sustained investor confidence in New Jersey’s residential development market, particularly in communities with strong demographics and proximity to employment centers.”
Located at the intersection of Hanover Road and Vreeland Road, 50 Hanover Road benefits from central proximity to the area’s top retail corridors, major roadways, and nearby corporate headquarters.
