Northeast Capital Group Acquires Office Building In Iselin, NJ For $88M

485 US-1 Building B, located in Iselin, NJ, has been sold in a closed transaction. The property is an office space with a total area of 629,189 square feet. The transaction took place on 05/24/2021 and involved Northeast Capital Group as the buyer and KBS, represented by Marc DeLuca and Stephen Close, as the seller. The sale price for the property was $88,000,000, resulting in a price per square foot of $140.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $88,000,000
• Address: 485 US-1 Building B, Iselin, NJ
• Market: Iselin, NJ

The brokerage team involved in this transaction included Kevin Welsh, Brian Schulz, Jason Emrani, Maria Betancourt, and Jamie Drummond, all representing Newmark. They played a crucial role in facilitating the deal between the buyer and the seller.