The owner of the building, Gerri Investment Corp. Inc., a local group, was represented in the negotiations by Fred Lipton, a senior vice president of Binswanger/Klatskin, Teterboro, NJ. Knauer Realty Corp. also represented the owner, according to Lipton. The terms of the transaction were not released.
"Serving as a FedEx ground operation, this facility was originally a spec building," according to Lipton. "FedEx and Gerri Investment Corp. have a longstanding relationship, as this is the third renewal that the tenant has secured with the owner."
FedEx's building, located near Route 22 and I-78 in this Somerset County community, includes 3,000 sf of office space.
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