SOUTH PLAINFIELD, NJ-Southfield Center, a three-story class B+ office building, has been sold for a figure pegged in the $16 million range, or approximately $100 per sf. Neither the terms of the transaction nor the name of the buyer were disclosed at the time of the sale.

Investcorp, the New York-based investment group, sold the 160,000-sf asset. The property had been purchased in conjunction with Crow Holdings of Dallas and the Lincoln Equities Group of East Rutherford, NJ back in the first quarter of 2000.

Investcorp focuses on existing commercial, hotel and residential properties. The firm’s real estate group currently oversees a portfolio with a current value of more than $1.4 billion in selected urban and suburban markets in the U.S. Besides its real estate group, Investcorp focuses on corporate investments, asset management and technology investments.

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