Leading Real Estate Firm Represented Seller & Procures Buyer In Purchase of Flex Portfolio 5 and 8 Commerce Way
Leading global commercial real estate services firm Colliers International Group Inc. announces that it has arranged the sale of 5 and 8 Commerce Way, a two-building portfolio located in Hamilton, New Jersey, for $19,500,000. The buildings encompass over 120,000 square feet across more than 12 acres of land in the highly-desirable Princeton submarket. The portfolio, which is currently 95% occupied, offers two high-quality assets complete with a modern and functional design to accommodate an array of tenants.
Colliers represented both the buyer and seller in the deal. The Colliers team consisted of members from their New Jersey office including Executive Managing Director Jacklene Chesler, Managing Director Matthew Brown and Senior Financial Analyst Frank Summers.
In addition to strong in-place cash flow, the properties benefit from a diverse range of tenants, including credit tenancy. The State of New Jersey, GSA Mid-Atlantic Region, Lumber Liquidators and Interior Specialists are among some of the tenants.
The properties are modern, functional, and flexible and are situated in a prime distribution/logistics area. Some of the space features 28 foot clear ceiling heights, loading docks and drive in options, which accommodate a blend of different tenant requirements and uses.
The portfolio is strategically located to accommodate both industrial and office use, with easy access to Interstate 295, the New Jersey Turnpike and US Routes 33 and 130. The prestigious Princeton Office area is growing rapidly due to its highly educated workforce, expanding population, and an unsurpassed concentration of universities and major corporations. Tenants also have access to nearby restaurants and a CrossFit gym.
About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.
