Real Estate Venture Pays $11.5M For NJ Office Tower

Law360, New York (March 7, 2014, 2:32 PM EST) -- A joint venture comprising real estate finance and investment management firm PCCP LLC and real estate company Mountain Development Corp. has purchased Secaucus, N.J.'s One Harmon Plaza from New Boston Fund Inc. for $11.5 million, the companies said Friday.

The transaction sees PCCP and Mountain Development acquire a 10-story, 192,000-square-foot office tower that is located less than 5 miles from midtown Manhattan. Kevin Chin, vice president of PCCP, praised the deal in a Friday statement, saying the two companies plan to upgrade and improve what he...
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