The office building at 201 Littleton Road in Morris Plains has been sold for $10,250,000, with the transaction arranged by Cushman & Wakefield.
The 89,100-square-foot property was acquired by SiriVarsha LLC, a sister company of Agadia Systems Inc. The global technology firm plans to relocate its world headquarters to the newly purchased location. The seller was Chopp Holdings.
Sustained demand for quality office
The sale highlights continued investor demand for high-quality, well-located office assets in the New Jersey market. The three-story building, situated on a park-like 16.5-acre site with lake views, recently underwent significant leasing activity.
“201 Littleton Road presented a unique opportunity to acquire a well-occupied office asset with significant in-place cash flow and value-add potential,” Jordan Sobel of Cushman & Wakefield. He noted the property’s recent momentum, which included five new deals totaling over 22,000 square feet, demonstrating the sustained appeal of the location.
Frank DiTommaso, also part of the Cushman & Wakefield team, added, “The team at Chopp Holdings has done an excellent job throughout the course of their ownership, and we are pleased to have had the opportunity to represent them while securing a long-term buyer for the property.”
Strategic location and amenities
The property’s appeal is bolstered by its recent refresh of the lobby and common areas, and its average suite size of approximately 4,700 square feet, which aligns with current tenant needs. Its strategic location offers immediate access to major highways, including Interstates 287 and 80, and Route 10, alongside a wealth of surrounding retail, dining, and residential developments.
The Cushman & Wakefield Investment Sales and Advisory team representing the seller and procuring the buyer included David Bernhaut, Frank DiTommaso, Andrew Schwartz, Jordan Sobel, Andre Balthazard, Dan Bottiglieri, and Bill Baunach. Additionally, the firm’s Equity, Debt & Structured Finance (EDSF) team of Brian Anderson and Eddie Miro arranged the financing on behalf of the buyer, SiriVarsha LLC.
