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

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.