The ownership, a JV of JER Partners and Herring Management, was represented by Milt Charbonneau, Warren Searles, Charles Parmelli and Douglas Twyman of the Somerset, NJ office of Colliers Houston & Co. Oscient was represented by Paul Velecides of CB Richard Ellis. Terms were not released; space in the building is currently listed with an asking price of $23.75 per sf.
The latest signing follows an 112,000-sf space commitment by pharma giant Johnson & Johnson in April. JER Partners, the private equity investment arm of J.E. Robert Cos. of McLean, VA, and the Princeton-based Herring acquired the property in early 2006 from CA Inc., formerly Computer Associates for an undisclosed price, and subsequently spent $3 million to upgrade the single-tenant facility and reposition it as a multi-tenant building. Currently, 88,000 sf remains available.
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