SOMERSET, NJ-Cushman & Wakefield, Inc.’s Metropolitan AreaCapital Markets group has orchestrated the $9.1-million sale of 265Davidson Ave. here. Friendwell Property Investment Co. purchasedthe 176,000-square-foot, class A office building from KBS RealtyAdvisors.

The four-story, multi-tenanted building sits on more than 14acres near Exit 10 of I-287. “This neighborhood is a well-knowncorporate back-office submarket, with corporate tenants includingMetLife, Prudential, Cablevision, AT&T, Nissan and Mitsubishi,”says Cushman & Wakefield’s David Bernhaut, who headed thetransaction, along with team members Andrew Merin and Gary Gabriel.“At the same time, the submarket faces challenging conditions withrelatively high vacancy rates.”

Within this context, 265 Davidson is currently 65% occupied.“Friendwell acquired a superior asset at an excellent costbasis--combining current cash flow with the opportunity to lease upspace at very competitive rental rates,” Bernhaut tellsGlobeSt.com. “This is a great long-term investment for a group thatis focused on building a strong Northern New Jersey commercialportfolio.” The property’s main entrance leads to an atrium lobbywith stainless steel and glass rail finishes. Flexible,45,000-square-foot floor plates accommodate full-floor users andare divisible for smaller tenants.