Stro acquires office and data center building belonging to Bank of New York Mellon in New Jersey

Stro Companies has acquired an office and data center building owned by Bank of New York Mellon in Florham Park, New Jersey. It is reported that the Company acquired the buildings for $7.3 million. The acquired building also has 141,000 square feet of space. Jack Shulman, director of acquisitions and capital markets at Stro, said the purchase is an exciting project for the Company.

He further added that since the Company is focused on acquiring properties close to its existing ones, the acquisition of the buildings from Bank of New York was inevitable as it is close to the Company’s Vreeland property. However, since the Bank of New York hasn’t announced that it is closing any office, this is likely a sale-leaseback deal.