CBRE announced the $26.24 million sale of Windsor Corporate Park in East Windsor. CBRE’s Institutional Properties’ Jeffrey Dunne, Jeremy Neuer, Steven Bardsley, David Gavin, Gene Pride, Stuart MacKenzie and Zach McHale worked with the leasing colleagues Adam Englander and Carolyn Sica on behalf of the seller, Raith Capital, while also procuring the buyer, Strategic Funding Alternatives (SFA).
“We appreciate the perseverance and cooperation of both the seller and the buyer in completing this transaction in the midst of the pandemic,” said Dunne, a vice chairman at CBRE. “We were able to work with both parties to get this deal over the finish line and look forward to working with both again.”
CBRE’s Neuer added, “SFA has grown their portfolio significantly in the southern part of New Jersey and we expect them to continue to grow further north. We are always happy to welcome new buyers to our markets.”
Windsor Corporate Park is a four-building complex totaling 291,550 square feet. The complex provides a robust parking ratio of six spaces per 1,000 SF and sits adjacent to the junction of the newly constructed Route 133 bypass and Princeton Hightstown Road, providing easy accessibility to the New Jersey Turnpike (Exit 8), Routes 1 and 130, as well as the Princeton Junction Train Station. Raith Capital invested over $3m in capital while in ownership of the building which led to raising the occupancy from 41% to approximately 70% today.
CBRE Institutional Properties has a number of attractive investment opportunities on the market including: 800 Corporate Drive, a 84,280± sq. ft. flex building leased to a single tenant in Mahwah; 303-325 Midland Ave, a 75,657± sq. ft. mixed-use property in Garfield.; 40 Danbury Road in Wilton, CT, an 84% leased 161,222± sq. ft. Class A office building.
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