The network of community hospitals and health care facilitates serving Morris and Sussex counties occupies 11,824 square feet of medical office space at the property.

“This lease exemplifies how Glenpointe’s high level of adaptability, full suite of in-demand amenities and unparalleled location continue to make it a destination for tenants from across the state’s robust business community," said Alfred Sanzari Vice President and Director, Leasing and Marketing Jerry Barta.

The project will bring 337 units to the city's up-and-coming West Side neighborhood.

Take a look inside the new community, which offers 234 rental residences just steps from the train station.

The deal for the property, built in 1940 and used as a propulsion laboratory for the U.S. Navy in World War II, closed in just 35 days.

Plans from The Maxal Group and partner Envirofinance Group for the 19-acre site will see the development of 1,200 apartments across three, 25-story towers in addition to 20,000 square feet of commercial space.

The $54 million package comes after the firm announced last week that a Capital Markets team represented the seller of the transit-orientated property.

The purchasers recognized the location and uniquely upscale offerings of the property paired well with their similarly upscale merchandise.

Eric Stone brings more than 30 years of experience with him to the firm's Morristown office.

The partners will eliminate 900,000 square feet of vacant office space for the project, after acquiring 62 acres of Novartis Corp.'s 202-acre U.S. headquarters.

Real estate services firm Cushman & Wakefield represented the seller and procured the buyer in the transaction.

Cushman & Wakefield served as exclusive advisor to Advance Realty Investors and Greek Development in arranging permanent financing for two buildings totaling more than 1.32 million square feet.