Cushman & Wakefield successfully facilitated the sale of a 207,252-square-foot office building located at 30 Independence Blvd. in Warren, NJ. The buyer and seller were undisclosed, but the team of David Bernhaut, Frank DiTommaso, Maia Sirabian and Bill Baunach represented the seller while also procuring Signature Acquisitions as the buyer. Additionally, Brad Domenico from Cushman & Wakefield arranged for acquisition financing on behalf of Signature Acquisitions.
According to DiTommaso: “In today’s market for office acquisitions typically involve redevelopment or alternative use strategies; however this was not the case with this particular property.” He went on to explain that there was strong interest from investors who recognized its potential as a premier facility within its local submarket due to its history of institutional ownership and overall quality.
At present time only six tenants occupy approximately 52% percent of 30 Independence after undergoing extensive renovations which include amenities such as grab-and-go café service,a Peloton-equipped fitness center,and an 80-seat conference facility along with covered parking options.
The article concludes by stating that Signature Acquisitions has acquired these offices in order to hold them long-term.
