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Colliers to market tower in Somerset

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Tower 270 in Somerset.
Tower 270 in Somerset. - ()

Richard Mirliss, Michael Tesser, Alexander Vitro and Ryan Haggerty of Colliers International have been selected as the exclusive marketing team for a 229,000-square-foot property in Somerset, the firm announced recently.

The property, Tower 270, will be marketed as an owner and occupier purchase opportunity with 83,000 square feet for lease to single or multiple tenants.

“This building has been upgraded and maintained through its history,” Mirliss said. “We are seeing more users explore property purchases as means to control their operating costs for the long term.”

Tower 270 offer plug-and-play units from 2,800 square feet, Colliers said. The building features a café, shared conference center and covered parking.

The recent capital investment at Tower 270, Mirliss said, and its location at Exit 10 off Interstate 287 also make it an attractive investment.

“As availabilities begin to tighten, upward pressure is placed on rents,” Tesser added. “In fact, central New Jersey’s average asking rent closed the first quarter at $25.82 per square foot, up $1.05 per square foot year-over-year.”

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Mario Marroquin

Mario Marroquin

Mario Marroquin covers real estate. A native of El Salvador, Mario is bilingual in English and Spanish. He graduated from Penn State University and worked in Pennsylvania before moving to New Jersey. His email is mariom@njbiz.com.

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