American Real Estate Partners (AREP) And Independencia Sell 1100-1200 American Boulevard In Premier New Jersey Office Park For $95M

American Real Estate Partners (AREP) and Independencia Asset Management announced today the sale of 1100-1200 American Boulevard in Hopewell Township, NJ to an undisclosed buyer for $95M.  Originally built in 2000 as part of the Merrill Lynch corporate campus, the property was constructed to the highest quality standards and consists of three Class-A office buildings totaling 380,417 SF.  AREP acquired the property in 2013 as part of its portfolio strategy to moderate risk within its value-add strategy.  Under the terms of the agreement, AREP will continue to lease and manage the property.  The asset is currently 100% leased to Merrill Lynch which was acquired by Bank of America in 2008.