220 Davidson Avenue, Franklin Township, NJ

FRANKLIN TOWNSHIP, NJ—NextBridge Group and Two Kings Real Estate Company have sold 220 Davidson Avenue, a four-story, 161,217-square-foot, class A office building in Franklin Township, NJ.

Holliday Fenoglio Fowler marketed the property on behalf of the seller, and procured the private buyer. Financial terms were not disclosed, but NextBridge Group acquired the property in June 2010 from Hartford Life Insurance for $5.7 million, according to Real Capital Analytics, a proprietary commercial real estate research database.

220 Davidson Avenue is situated on a 9.29-acre site at the entrance to The Atrium Office Park along Davidson Avenue, a commercial corridor with multiple office buildings, national hotels and a convention/exhibition center. The 85-percent-leased property was most recently renovated in 2007 and features an atrium lobby with marble finishes, full-service café and fitness center with showers and lockers. Major tenants at 220 Davidson Avenue include McKesson, Berkshire Hathaway and the American Arbitration Association.

The HFF investment sales team representing the seller was led by senior managing director José Cruz, managing director Kevin O'Hearn and directors Stephen Simonelli and Michael Oliver.

“This transaction reflects the continued demand for high-quality, suburban office product with upside potential,” says O'Hearn.

220 Davidson Avenue is situated on a 9.29-acre site at the entrance to The Atrium Office Park along Davidson Avenue, a commercial corridor with multiple office buildings, national hotels and a convention/exhibition center. The 85-percent-leased property was most recently renovated in 2007 and features an atrium lobby with marble finishes, full-service café and fitness center with showers and lockers. Major tenants at 220 Davidson Avenue include McKesson, Berkshire Hat haway and the American Arbitration Association .

“This transaction reflects the continued demand for high-quality, suburban office product with upside potential,” says O'Hearn.

Instant Insights /

NextBridge and Two Kings Shed Franklin Township, NJ, Office Property

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