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FRANKLIN TWP., NJ- Cottontail Holdings LLC, a New York-based investment group purchased two office complexes totaling 367,000 sf in this Somerset County community. Sonnenblick-Goldman Co., represented the seller, Chelsfield USA LLC, and arranged the sale. The sale price of $31 million factors out to just under $85 per sf. Further details of the transaction were not disclosed.

The larger of the two properties is Vantage Court A&B, a 200,000-sf asset at 200 Cottontail Lane. The fully leased building has a tenant roster that includes Mazda Motor of America, Ventive Health, the Parsons Infrastructure & Technology Group, Mitsubishi Electric, World Savings Bank and Royal Dalton USA.

The other building just sold, located nearby at 580 Howard Ave., is Corporate Park III. The 167,000-sf asset’s tenant group includes the Ronson Corp., telecom company Avaya Inc., and the law firm of Collier, Jacob and Miller.

“The two buildings have consistently outperformed the market,” says David S. Schaiman, managing director at the New York City-based Sonnenblick-Goldman, a real estate investment banking firm. “They have continually maintained substantially better occupancy levels than the market. They have also achieved higher rentals than other buildings in the area.”

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