Located on 62 acres, Edison Towne Corporate Centre includes a 245,446-square-foot office building at 2147 Route 27; a 99,260-square-foot research and development building at 2121 Route 27; and a 140,000-square-foot warehouse building with additional, vacant land behind it at 55 Talmadge Rd. Plans are on tap for the Morris Cos. to redevelop the land parcel.
"This offering involved a unique combination of a mixed-use project with a value-added component and significant additional development potential," says C&W's Jose Cruz, who handled the assignment in conjunction with Capital Markets team members Andrew Merin, David Bernhaut and Gary Gabriel.
The center is less than one mile south of Exit 2 on I-287. Route 27 provides access to Exit 131 on the Garden State Parkway to the north, and Route 18 to the south.
"Superb accessibility has made the stretch of Route 27 extending from Edison Towne Corporate Centre up to I-287, and nearby on Route 1, a hotbed for redevelopments, attracting a wide array of industrial, office and retail users," according to Merin.
Based at C&W's East Rutherford office, the Capital Markets group has completed more than $13.6 billion worth of transactions since 2000. Over the past four years, this included an average of more than $1.5 billion annually, reaching $2.7 billion in 2007.
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