Property Details

  • Capstone acquired 135 Chestnut Ridge Road from the Mack-Cali Corporation, at the same time as 50 Tice.
  • Located directly next to 155 Chestnut, 135 Chestnut is conveniently located on one of the main roadways of Montvale and right next to the Garden State Parkway.
  • The building is undergoing an extensive renovation including a complete overhaul of landscaping, HVAC/utility systems, and interior tenant spaces.
  • Capstone forecasts that the property should be stabilized by the end of 2020.
Asset Class Office
Property Size 65,000 SF
Investment Status Redevelopment
Forecast Deal IRR 15%
Forecast Deal EM 1.88X
Year Acquired 2017

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