PARSIPPANY – October 31, 2020 – A joint venture of Harbor Group International, LLC (“HGI”), a privately-owned international real estate investment and management firm, and Turnbridge Equities (“Turnbridge”), a vertically integrated real estate investment and development firm, and their affiliates, today announced the sale of 100 Jefferson Road, an industrial property located in Parsippany, NJ, for $85.25 million.

The 550,000 square foot property was acquired by HGI and Turnbridge in October of 2018 from PNY Technologies, the primary tenant of the property for $60.3 million.  

“HGI acquired 100 Jefferson as part of our Last Mile Industrial initiative, targeting industrial properties with direct access to key urban markets,” said T. Richard Litton, Jr., President of HGI, “We successfully implemented a $4.2 million capital improvement plan and executed our leasing strategy, adding significant value to the property.”  

100 Jefferson is occupied primarily by PNY Technologies and Vitaquest.