SADDLE BROOK, N.J. – CBRE Group Inc., New Jersey’s largest commercial real estate brokerage firm, today announced the completion of two office lease transactions that totaled 7,506 sq. ft. within Vantage Court, a 208,700-sq.-ft. Class-A, two-building complex located at 200 Cottontail Lane, Somerset, N.J.
The CBRE team of Joseph Sarno, executive vice president; Jeremy Neuer, senior vice president; and Frank Foldetta, senior associate, represented the owner, The Winter Organization, in both transactions.
In the first transaction, a leading insurer took 4,251-sq. ft. The tenant is relocating from another address in Somerset and was represented by Robert S. Shulman, managing principal, Cresa Boston, by James J. Scancarella, principal, Cresa NJ North/Central.
In the second deal, Olsson and Company, CPAs, LLC signed to occupy 3,140 sq. ft. The accounting firm is relocating from 230 Davidson Ave., Somerset, and was represented by DTZ Corporate Real Estate’s Chris Hovanec and Sam Horowitz.
“The fact that these two tenants are relocating from within Somerset County speaks volumes about the high quality of the space and amenities available at Vantage Court,” said Mr. Sarno. “Other key factors that make this a standout property in the Franklin Township market include the responsible and well-regarded ownership, on-site security and management and a beautifully landscaped courtyard and park-like environment with close access to a wealth of area amenities.”
Building A totals 104,500 sq. ft., while Building B is 104,200 sq. ft. The property has 26,000-sq.-ft. floor plates and features upgraded common areas such as a re-landscaped courtyard and building perimeter. Amenities include food service, center courtyard with seating, on-site management and security guard, card key access and four parking spaces per 1,000 sq. ft.
Approximately 100,000 sq. ft. is available at Building A and 73,850-to-104,200 sq. ft. is available at Building B. Units are available starting from 2,200 sq. ft.
The property sits on 14.47 acres and is easily accessible by I-287. It is approximately one mile from a new retail center featuring CVS and Dunkin Donuts and just minutes from Bridgewater Commons Mall, in addition to numerous hotel options including DoubleTree, Marriott and Holiday Inn.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.