Mountain Dev. and Square Mile buy 56 at Roseland

A partnership of Mountain Development Corp. and Square Mile Capital Management LLC has closed on the acquisition of "56 at Roseland," a 433,945 s/f headquarters-quality office building located at 56 Livingston Ave. "I've been in this business now for more than 40 years," said Robert Lieb, chairman of Mountain Development Corp., "and this is, bar none, the finest property I've ever seen." Situated within a campus setting on 56 acres, the vacant four-story building has benefited from more than $50 million of recent investment in base-building infrastructure by the previous owner, Merck & Co., Inc.