Denholtz Associates recently announced the purchase of a four-story, 83,258-square-foot multi-tenant commercial office building located in Franklin Township. The building, Somerset Executive Square II, is situated in the Route-287 submarket. The property was purchased from GE Capital.
“We have been players in the central Jersey commercial real estate marketplace for a very long time and we understand how to extract the maximum value of a well-positioned, multi-tenant office in the current environment,” said Steven Denholtz, Chief Executive Officer of Denholtz Associates. “Our strategy of acquiring these value-add, multi-tenant office buildings and parks rely on our substantial in-house capabilities, our advanced management systems and our world-class people. We are able to maximize the value and minimize the risks of our investments by filling vacancies with multiple tenants, and our size and resources relative to our competitors puts us at an advantage to do so.”
Somerset Executive Square II features newly renovated lobbies and corridors and sits on five-acres directly adjacent to The Somerset Marriott Hotel and within walking distance of a major conference center and hotels, including the Radisson and Holiday Inn. The office park’s Executive Drive location is in close proximity to area banks, restaurants and shopping. There is abundant parking, which includes executive covered spots and onsite porter services. The park provides direct access to I-287, as well as access to Routes 22, 202, 206, I-78, The New Jersey Turnpike and The Garden State Parkway.
Currently, 18,754-square-feet of space is available. Office vacancies range from 5,000-square-feet to the possibility to accommodate larger tenants. The property is being marketed to growing companies seeking highly competitive lease terms and back-office users.Related Articles: