The Hampshire Cos. said it recently sold 175 Park Ave. in Madison to Gulf Islamic Investments LLC (GII), a leading United Arab Emirates-based advisory private equity, venture capital, infrastructure and real estate investment firm.

The 270,000-square-foot building is the corporate headquarters of Realogy, a fully integrated residential real estate services provider with brokerage, franchising, relocation, mortgage, and title and settlement services delivered through its well-known industry brands including Better Homes and Gardens Real Estate, CENTURY 21, Climb Real Estate, Coldwell Banker, Coldwell Banker Commercial, Corcoran Group, ERA, Sotheby’s International Realty as well as NRT, Cartus, Title Resource Group and ZapLabs, an in-house innovation and technology development lab.

Situated on over 15 acres in Morris County, the site was previously home to an outdated Verizon call center building. Working in conjunction with architecture firm Kohn Pedersen Fox Associates (KPF), The Hampshire Cos. recognized the potential of the location and executed an ambitious adaptive reuse project to transform the property into a Class-A headquarters office space for one of New Jersey’s largest companies.

“Typically, pursuing the complete redevelopment of an office building at the height of a market downturn runs contrary to prevailing real estate wisdom. However, our ability to see real estate through a different lens allowed our firm to recognize a unique opportunity in the market back in 2012 and create one of New Jersey’s most valuable office buildings,” said James E. Hanson II, president and chief executive officer of The Hampshire Cos.. “This sale exemplifies the strength of our vision for the property and our ability to create value across property types and economic climates.”