Ascena Retail Group Inc. is selling a 195,212-square-foot office complex in Mahwah located at 933 MacArthur Blvd.
Philadelphia real estate firm Binswanger will represent the retailer in the sale.
The complex for sale is on 20 acres of land. It has two main buildings connected by an internal passageway. The larger building, a three-story,144,700-square-foot office building, is designated LEED silver. The smaller building, a three-story 49,388-square-foot office building, is designated LEED Gold.
A spokesperson told RetailDive that the sale is a step in the company’s efforts to right-size its footprint and cost structure “to support a stronger, focused, and more profitable business.”
The company intends to explore office locations in New Jersey to relocate its employees, the spokesperson said.
A representative for Ascena did not return a request for comment by press time.