In the transaction, the buyer was represented by Steven Fleming, senior vice president, and Shawn Straka, vice president of the Staubach Co., of Murray Hill. The seller, BET Investments of Huntingdon Valley, PA, was represented by Cushman & Wakefield. The sale price was not disclosed. At the time of sale, the building's availability of approximately 70,000 sf was listed on BET's website with a rental asking price of $20 per sf gross plus utilities.
"SoftWare House's rapid growth necessitated this acquisition to accommodate the company's current and future business needs," Straka tells GlobeSt.com. "This transaction represents a major expansion for the company."
"This building met SoftWare House's building objectives, as well as the company's preference toward ownership," Fleming says. "This Piscataway location, near the company's existing location, also means that its employees will enjoy a seamless commute to the new facility."
Located near I-287 in Middlesex County, 33 Knightsbridge Rd. is a three-story asset on 14 acres. It was originally built in 1981 and renovated in 2003, shortly after it was acquired by BET Investments.
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