Cushman & Wakefield's Bill Brown, Heather Polhamus, Jon Williams and Josh Cohen are the exclusive leasing agents for the Spear Street Capital-owned asset. PHX was represented by Larry Martin of Grubb & Ellis. The terms were not released; the space had been listed with an asking price of $30 per sf.
Crossroads Business Center is located at the junction of Routes 202/206 and Interstates 78 and 287, within walking distance of Bedminster's Pluckemin village. The lease also represents the first signing since the San Francisco-based Spear Street Capital acquired the class A property, its initial New Jersey asset, earlier this year.
Spear Street has a capital improvement project in the works for the complex, which has Merrill Lynch, Peapack Gladstone Bank and Philip Morris among its existing tenants. New tenant PHX provides integrated, automated claim processing to healthcare payers, including insurance companies, HMOs and third-party administrators.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
