The deal was arranged by brokers Milt Charbonneau, Warren Searles, Charles Parmelli and Douglas Twyman of the Somerset office of Colliers Houston & Co.'s Somerset office. Terms were not released; availabilities currently adding up to about one-third of the building's total space are currently listed with an asking price of $23.75 per sf plus TE.
The building was originally constructed in the early 1980s for Computer Associates, later known as CA Inc., which sold it in 2005 to current owner JER/Herring Orchard LLC, a joint venture of JER Partners of McLean, VA and locally based Herring Management. A $3-million capital improvement program was subsequently completed, and the asset was put on the market as a multi-tenant building in early 2007.
Other tenants include Johnson & Johnson, which agreed to lease 112,000 sf in April, and Oscient Pharmaceuticals, which signed on for 10,000 sf in May.
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