Commercial real estate firm Cushman & Wakefield announced it has brokered the sale of a 288,280-square-foot Class A office building in Hunterdon County for $19.9 million to investors Shelbourne Global Solutions.
C&W’s David Bernhaut, Andrew Merin, Gary Gabriel Andrew Schwartz and Ryan Larkin represented the sales team.
“Shelbourne recognized this as an excellent value-added play with the strong upside potential of below-market rental rates and available space,” Bernhaut said. ““New Jersey’s (Interstate) 78 Corridor submarket has become a hotbed for the pharmaceutical and technology industries and has the highest occupancy of all major northern New Jersey suburban office markets.”
Perryville III is located at 53 Frontage Road, in the Perryville Corporate Park. The building was built in 1996.
Building amenities include a 12,000-square-foot cafeteria, a conference center, two fitness rooms, outdoor tennis and basketball courts and a jogging trail.
Moving forward, Shelbourne said it will refer to Perryville III as Shelbourne at Hunterdon.