The buyer was represented by associate vice president Jeffrey Furey and senior vice president Stan Kurzweil of the Somerset, NJ office of Colliers Houston & Co. The seller, First All America Financial Life Insurance Co. of Brentwood, NY, was represented by Lyn DeMarco of CB Richard Ellis' investment sales group.
The center, started in 1996, serves more than 4,000 Chinese-American families in New Jersey and northeastern Pennsylvania, providing some 100 programs, including computer training. The acquisition will consolidate a number of other locations currently used by the group, and serve as its headquarters.
The building comes equipped with a cafeteria, auditorium and classrooms, according to Furey. It will also accommodate a senior citizen and a childcare center, as well as a library and a culinary school.
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