Colliers International Brokers Sell Property In Piscataway For $3.9M

A 65,253-square-foot office building located at 225 Old New Brunswick Road in Piscataway has been sold for $3,900,000. The property, built in 1978, consisted of three stories and was 28 percent occupied at the time of the sale. This transaction took place in the Piscataway market, which is approximately 40 miles southeast of New York City.

Summary of transaction details:

• Property Type: Office Building
• Transaction Amount: $3,900,000.00
• Address: 225 Old New Brunswick Rd, Piscataway, N.J.
• Market: Piscataway
• Seller's Representative: Matthew "Matt" Brown - Colliers International
• Seller's Representative: Patrick Norris - Colliers International
• Buyer: Unknown
• Square Footage: 65253
• Occupancy at Sale: 28%

The seller, Rafael Holdings Inc., was represented in the transaction by Jacklene Chesler, Matthew Brown, and Patrick Norris, all from Colliers International. The deal involved the transfer of ownership of this office building amid a real estate market characterized by varying occupancy rates.