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Matrix Grabs Mega Campus

CRANBURY, NJ-For an undisclosed price, Matrix Development Group is purchasing the 18-acre Mid-Atlantic Corporate Center here.

By Maria Wood | Updated on March 11, 2009

CRANBURY, NJ-After its acquisition by Matrix Development Group, the Mid-Atlantic Corporate Center here will be renamed Matrix Corporate Campus. No purchase price was revealed, but the company intends to offer space for both sale and lease at a discount.

The complex spans 80 acres and houses 13 buildings with a total of 342,000 square feet. The seller is Preferred Unlimited, a Pennsylvania-based real estate investment firm. Newmark Knight Frank and Fennelly & Associates represented Matrix and Preferred Unlimited in the deal.

With a mix of office, laboratory and flex opportunities, the campus can accommodate users from 2,500 square feet to more than 100,000 square feet. Matrix intends to offer the space for both sale and lease at a 20% discount to “competitive space in the market,” according to a company release. According to the Sitar-Rutgers February 2009 Regional Market Report, office in Middlesex County–where the Matrix campus is located–averages $24.38 per square foot.

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