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Deals & Dealmakers

Diversified Negotiates Sale of 4.3 Acres to the Morris County Park Commission to Expand Parking at Pyramid Mountain Natural Historic Area

Diversified Properties, one of the region’s most experienced commercial/residential real estate developers and owners, announces it has negotiated the sale of 4.3 acres of land at the Mars Park Corporate Center located on Mars Court in Montville, N.J. to the Morris County Park Commission.
Mars Park Corporate Center is a five-building, 100,000-square-foot industrial portfolio at 1 Mars Court acquired by Diversified Properties in 2020 with a diverse tenant base of local and international industrial tenants. Spanning 15-acres just off Boonton Avenue, the property is surrounded by the Pyramid Mountain Natural Historic Area, a 1,675-acre nature park located in Montville, Boonton and Kinnelon that is managed by the Morris County Park Commission.
With a wide range of rugged trails, fields, forests, rock outcroppings, and wetlands as well as a magnificent view of the New York City skyline, Pyramid Mountain Natural Historic Area is among one of Morris County’s most popular outdoor destinations. However, its popularity has made finding parking increasingly difficult for visitors. Through its sale of 4.3-acres of undeveloped land at Mars Court, Diversified Properties will enable the Morris County Park Commission to construct additional parking and make the park more accessible to visitors from Morris County and beyond. 
“As Montville residents ourselves, we are honored to help make one of its most beautiful destinations more accessible,” said Nick Minoia, Founder and Managing Partner of Diversified Properties. “We hope that this sale will allow more people than ever to experience what makes Pyramid Mountain Natural Historic Area so special and ensure it can be enjoyed by residents and visitors alike for years to come.”
“Pyramid Mountain is a special part of the 20,394 acres of parkland in Morris County, which has the largest county park system in New Jersey. Providing additional access to this natural jewel and all of our open spaces is very important, especially when you take into consideration that our residents sought refuge in our parks and on our public walking trails during the pandemic. Visitation to places like Pyramid Mountain increased fourfold over what it had been in years prior. Creating another access point for people to reach these resources is important, and I’m glad we will be able to rely on this added property,” said Morris County Commissioner Thomas Mastrangelo, a Montville resident and board liaison to the Park Commission.
Montville Mayor Frank Cooney added, “Montville Township supports the sale of private property from Diversified Properties to the Morris County Park Commission for the ancillary use of parking which is needed to accommodate the residents of Morris County when they use Pyramid Mountain and the surrounding open space areas. This helps get vehicles that are parked on the roadway in a parking lot which improves overall pedestrian safety.”

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