Joint venture investors Rubenstein Partners and Onyx Equities have closed on the disposition of a Class A office campus in Basking Ridge, NJ, in a $98.5 million deal. Located at 211 Mount Airy Road, the 306,194 sqf facility is 100 percent leased by Daiichi Sankyo for the next 16 years. Building features include a cafeteria, fitness facilities, an auditorium and conference center. The sellers, who remodeled the property extensively, bought the asset for $12.5 million in late 2013 from telecommunications company Avaya. “Together with Onyx, we were able to create a truly unique office product that was ideal for a large tenant desiring a headquarters-quality office campus,” said Stephen Card, Principal and the Regional Director of Mid-Atlantic for Rubenstein Partners.
