Vantage Commercial Sells 106600 Square Foot Office In Somerset, New Jersey In 88 Days
100 Franklin Square Drive
Building Size
106,600 SF
Asset Type
Office
Closing
Nov 6, 2025
AI
100 Franklin Square Drive is a 106,600-square-foot office complex located in Somerset, N.J. The property was recently sold by an undisclosed REO seller associated with Vantage Commercial, indicating its status as a significant asset in the regional market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Square Footage: 106,600 SF
- Address: 100 Franklin Square Drive
- Market: Somerset
- Broker: Ken Richardson - Vantage Commercial
- Buyer: Owner-user planning to convert part of the building for local surgical centers
- Days on Market: 88 days
Ken Richardson, representing Vantage Commercial, facilitated the transaction for the office complex, successfully connecting the undisclosed REO seller with the buyer who has specific plans for the property. The deal finalized shortly after the listing, demonstrating effective brokerage services.
Players
Somerset Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93