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1090 King George's Post Road
SOLD

Federal Business Centers Acquires Business Center Of Edison Office Complex In $49.75M Deal

1090 King George's Post Road

Office
122,000 SF
clock iconSold 289 days ago
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Summary

Sale
NEW JERSEY
Office
122,000 sqft

A 12-building office complex located at 1090 King Georges Post Road in Edison has been sold for $49.75 million. The property, known as the Business Center of Edison, spans a total area of 122,000 square feet. The sale price per square foot comes to $408. The transaction took place in August and involved the buyer, Federal Business Centers, and the seller, Denholtz Properties.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $49,750,000
  • Square Footage: 122,000
  • Price per Square Foot: $408
  • Address: 1090 King Georges Post Road, Edison
  • Market: Edison

Federal Business Centers, led by Frank Visceglia, acquired the office complex from Denholtz Properties, represented by Steven Denholtz. David Zimmel of Zimmel Associates served as the broker in the deal. The buyer plans to transform the office complex into an industrial center, capitalizing on its strategic location in Raritan Center. This redevelopment project will be undertaken over the next few years as existing leases expire and local approvals are obtained.

Players

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  • Agents

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  • Agencies

    1

David Zimmel's profile picture
David Zimmel
Zimmel Associates-image
President & CEO
$149.5M Sold

Details

Deal Summary
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SOLD
IMAGE: Steven Denholtz & David Zimmel DATE: 09/28/2023 ADDRESS: 1090 King Georges Post Road MARKET: Edison ASSET TYPE: Office BUYER: Federal Business Centers - Frank Visceglia SELLER: Denholtz Properties (@DenholtzProperties) - Steven Denholtz BROKER: David Zimmel - Zimmel Associates (@ZimmelAssociates) SALE PRICE: $49,750,000 SF: 122,000 ~ PPSF: $408 NOTE: A 12-building office complex in Edison, known as the Business Center of Edison, has been sold for $49.75 million to Federal Business Centers, which plans to transform it into an industrial center due to its strategic location in Raritan Center. The deal closed in August, and the redevelopment will take place over the next few years as existing leases conclude and local approvals are secured.

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Address1090 King George's Post Road

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