EDISON, NJ – M&M Realty Partners has closed on purchase of 1111 Durham Avenue, a 236,710-square-foot office building on 34.5 acres straddling the border of South Plainfield and Edison. HFF orchestrated the deal.
HFF marketed the property for the seller, Piedmont Office Realty Trust. M&M plans to reposition the 38-year-old building.
The property is located along Interstate 287 at Exit 4, less than five miles from Route 1, the Garden State Parkway and Interstate 95. The three-story office building was built in 1975 and previously occupied by Motorola and Prudential.
It has a cafeteria, fitness center, data center, helipad, tennis courts, volleyball courts and softball field.
The HFF investment sales team representing the seller was led by Jose Cruz and Andrew Scandalios and included Kevin O'Hearn, Jeffrey Julien, Michael Oliver and Marc Duval.
“The buyer will be looking at all options to maximize value at the property. They have acquired a great value add opportunity in a stable market,” said Cruz.
Piedmont Office Realty Trust specializes in Class A office properties in the ten largest U.S. office markets.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
