The owner of the building, the locally based 270 Davidson LLC, was represented in the transaction by first vice president Drew Persson of GVA Williams New Jersey, based in Parsippany. The firm is the exclusive leasing agent for the property, which is listed as the tallest building in Somerset County.
Aon, the Chicago-based provider of insurance, risk management, human capital and specialty insurance products, was represented by CB Richard Ellis. Terms of the signing were not released; available space in the building is currently listed with an asking price of $21.50 to $22 per sf, and for three- to five-year and "negotiable" lease terms depending on location within the property.
The building, constructed in 1987, is located at Exit 10 of Interstate 287 and is currently 77% leased, with approximately 51,000 sf available. Besides Aon, existing tenants include the engineering and construction firm Lockwood Green and MindTree Consulting, an international information tech services company.
"We are experiencing continued strong demand for the remaining space at this facility," Persson says. "For Aon Consulting, it's an ideal site because of its location and its access to the highly educated workforce they required."
It's also one of four locations in the Garden State for Aon Consulting Worldwide. Altogether, Aon Corp. and its various divisions and subsidiaries have 15 offices in New Jersey.
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