The ownership, a JV of JER Partners and Herring Management, wasrepresented by Milt Charbonneau, Warren Searles, Charles Parmelliand Douglas Twyman of the Somerset, NJ office of Colliers Houston& Co. Oscient was represented by Paul Velecides of CB RichardEllis. Terms were not released; space in the building is currentlylisted with an asking price of $23.75 per sf.
The latest signing follows an 112,000-sf space commitment bypharma giant Johnson &Johnson in April. JER Partners, the private equityinvestment arm of J.E. Robert Cos. of McLean, VA, and thePrinceton-based Herring acquired the property in early 2006 from CAInc., formerly Computer Associates for an undisclosed price, andsubsequently spent $3 million to upgrade the single-tenant facilityand reposition it as a multi-tenant building. Currently, 88,000 sfremains available.
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