**Colliers Brokers $4.6M Sale of New Jersey Office Building**
Colliers has successfully closed the sale of 80 Cottontail Lane, a four-story office building located in Somerset, New Jersey, for $4.6 million. The transaction was led by Colliers Vice Chair Jacklene Chesler and Vice President Patrick Norris, who represented the seller in the deal. The buyer, an end-user, plans to occupy a portion of the 85,425-square-foot property.
“80 Cottontail Lane presents a remarkable value-add opportunity in one of New Jersey’s most strategic and affluent regions,” said Chesler. “With more than 37,000 square feet of available space and the potential to increase rents, the property offers tremendous upside.” She added that the region’s shift toward office-to-industrial conversions further enhances the asset’s investment appeal by limiting the overall supply of available office space in Somerset County.
The Colliers team marketed the property in collaboration with commercial real estate auction platform Ten-X. In addition to 80 Cottontail Lane, Colliers is also marketing two South Jersey office properties via Ten-X, both of which are scheduled to be featured in the Ten-X Auction Event from September 15 through 17.
*Photo courtesy of Bussel Realty Corp.*
