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

485 US-1 Building B
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This Office property located in NJ was sold for $88,000,000 almost 4 years ago. The brokers of the deal were Jamie Drummond, Maria Betancourt, Jason Emrani, Kevin Welsh, and Brian Schulz

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.

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Deals
  • Location
    485 U.S. 1, Iselin, New Jersey, USA485 U.S. 1, Iselin, New Jersey, USA
  • Sale Price
    $88,000,000$88,000,000
    $139 PPSF$139 PPSF
  • Area
    629,189 SF629,189 SF
  • Asset Type
    OfficeOffice
  • Parties
    5 Brokers, 1 Agency5 Brokers, 1 Agency

Agents

Maria Betancourt

Maria Betancourt

Deals5
Financed$266M

Jamie Drummond

Jamie Drummond

Deals2
Sold$88M

Jason Emrani

Jason Emrani

Deals5
Sold$278.1M

Kevin Welsh

Kevin Welsh

Deals11
Financed$635.1M

Brian Schulz

Brian Schulz

Deals11
Financed$610.1M

Agency

Newmark

Newmark

Agency
Deals3894
Volume$397.4B

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Deal Summary

SALE IMAGE: Kevin Welsh, Brian Schulz, Maria Betancourt, Stephen Close, Marc DeLuca, Jamie Drummond & Jason Emrani DATE: 05/24/2021 ADDRESS: 485 US-1 Building B MARKET: Iselin, NJ ASSET TYPE: Office BUYER: Northeast Capital Group SELLER: KBS - Marc DeLuca & Stephen Close BROKERS: Kevin Welsh, Brian Schulz, Jason Emrani, Maria Betancourt & Jamie Drummond - Newmark SALE PRICE: $88,000,000 SF: 629,189 ~ PPSF: $140

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485 US-1 Building B

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