Jones Lang LaSalle


231,000-SF Office Complex Is on the Block
By Eric Peterson
Last updated: April 20, 2006 02:05pm

EDISON, NJ-Berkshire Funding Group is set to sell the three-building 231,082-sf Edison Square office complex here, and has given the exclusive to move the property to Newmark Knight Frank. NKF managing principals Paul Giannone and James Scanlon and managing director Kevin Carton, all of the firm’s Woodbridge, NJ office are working on the assignment.

Located on 16.6 acres at 2025-2045 Lincoln Highway (also known as Route 27) in Central New Jersey’s Middlesex County, the property’s three buildings were constructed in phases between 1984 and 1987. The 2025 and 2035 buildings are 67,463 and 97,156 sf respectively, and are currently more than 90% leased to a total of 24 tenants. The 2045 building totals 67,463 sf and is vacant at the moment.

"This property has a stable cash flow, and the offering should be attractive to investors who would be looking to subdivide the 2045 building, or to a buyer that is looking to occupy the building," Carton says. And Berkshire Funding is looking to move the building quickly: Property inspections are under way, according to Carton, and final bids are due on May 15. "Time is of essence."

The three buildings are configured around a central courtyard and fountain, and the complex also features its own heliport, located in back of the 2035 building. The property also comes with an option to build an additional 35,000-sf building on site. Also located at the property, but not included with the sale offering, is a 170-room Clarion Hotel & Conference Center.