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RAMSEY, NJ-Berson & Corrado Financial Planners has acquired 48 South Franklin Turnpike here, paying $4.4 million for the 29,000-sf office building. The sale price factors out to just under $152 per sf.

The seller was Heritage III Office Center, a local partnership. The deal was arranged by Randy Eigen, first vice president of CB Richard Ellis, along with Mark Corrado, one of Berson & Corrado’s principals, and attorney Bruce Meisel of Westwood, NJ.

With the acquisition, the buyer will move its principal office from Midtown Manhattan to the local site. Berson & Corrado will initially occupy approximately 7,100 sf, filling the building’s available space.

“Since the building is fully occupied, it’s a smart investment for Berson & Corrado’s principals, as well as serving as their headquarters,” Eigen says. “This facility will also afford the company future growth opportunities as leases expire.” The three-story asset, situated on a two-acre site, was built in 1983. The new owners are planning some common area upgrades, as well as resurfacing the parking lot, according to Eigen.

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