The Edison, NJ-based Zimmel Associates arranged the transaction, representing both the buyer and seller in the process. The company has been the exclusive broker for the property for several years and will continue in that capacity, according to Zimmel.
"The building has a great rental history and is 95% leased," says Zimmel, who notes that the 5% vacancy amounts to a 2,400-sf space on the third floor. "That and other factors made it attractive to the buyer. It was an excellent investment opportunity and was not on the market long."
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