Mercer Oak Realty, in conjunction with its management subsidiary, Princeton Property Management (PPM), has sold 100 – 300 Airport Corporate Park (370 Scotch Rd, Ewing) to IDI Logistics. The 18.3-acre property, located at a four-way interchange of I-295 and Scotch Rd, includes a 126,000-square-foot, two-story office building currently occupied by Cenlar FSB, and a 40,000, sqiare-foot, two-story office building previously occupied Horizon BCBS. IDI Logistics intends to demolish the existing office buildings and construct a warehouse on the site. Mercer Oak represented the seller and Newmark represented the buyer in the transaction.
The buildings were constructed in the early 1980s by NJ National Bank and have been occupied by successor banks Core States, First Union and Wachovia through the years. The post-covid world has seen a steep decline in the demand for these large, densely populated call center-type office buildings and has seen a sharp increase in demand for warehouse buildings to handle the explosion of e-commerce transactions.
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