NEW JERSEY—MB1 has acquired Cedar Knolls Corporate Center, a 118,000-sq.-ft. center located in Cedar Knolls. The seller was represented by Cushman & Wakefield’s Metropolitan Area Capital Markets Group.

With the acquisition, MB1 Capital Partners awarded the exclusive leasing assignment for the center to the Edison, N.J.-based Cushman & Wakefield Inc. team of Paul Giannone, Ken Flynn and Kevin Carton.

Located at 240 Cedar Knolls Road, Cedar Knolls Corporate Center is in Morris County with easy access to Routes 10 and 24, I-287 and I-80. The multi-tenanted building offers spaces from 1,000 sq. ft. to full floors of 30,000 sq. ft.

“MB1 plans to make various capital improvements to enhance the building,” said Giannone. “We will bring our knowledge of the local market as well as our national reach to secure corporate users.”

Situated on 15 acres in a park-like setting, the four-story Cedar Knolls Corporate Center offers an on-site café and 445 outdoor parking spaces. It was completed in 1981 and underwent common area renovations in 2007.