HFF closes sale of 95,620-square-foot office building in Somerset County, New Jersey
FLORHAM PARK, NJ – May 1, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of 1125 Route 22, a 95,620-square-foot, fully-leased office building in Somerset County, New Jersey.
HFF marketed the property on behalf of the seller, KBS Realty Advisors and procured the buyer, a partnership of Atkins Companies and Capital Solutions, Inc.
1125 Route 22 is located along Route 22 West just off of Interstate 287 about an hour drive from Manhattan. This location provides tenants with easy access to commuter roadways such as Interstates 78 and 95, and it is located only three miles from the Raritan train station that provides service to Manhattan and connections to Philadelphia and Washington, D.C. The property consists of two separate wings and is occupied by two tenants: Bank of America and MidJersey Health Corporation (a joint venture of Hunterdon Healthcare System and Atlantic Health System), and has been recently updated with improvements to its roof, landscaping, installation of a new building management system and a new parking lot.
The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, directors Stephen Simonelli and Michael Oliver and associate director Marc Duval.
“The property’s location and access to Route 22 and Interstate 287, as well as the new medical tenant with an extensive build-out, made this asset highly sought after by the investor community,” stated Cruz.
About Atkins Companies
The Atkins Companies is a New Jersey-based real estate organization active in the development, investment and management of high-quality commercial and residential properties throughout New Jersey and beyond. Atkins specializes in owning and operating medical office buildings throughout the country and continues to look for acquisition opportunities.
About Capital Solutions
Capital Solutions is a real estate investment and private equity firm founded by Frank Seidman in 1991. The Capital Solutions investment team consists of experienced professionals with strong backgrounds in real estate acquisitions, dispositions, finance, equity funding, redevelopment, asset management, structured finance and capital markets. Capital Solutions invests alongside quality operating partner across the U.S. and Canada with a focus on medical office, multifamily, student housing, senior living, and net lease opportunity within its real estate portfolio.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.