SOMERSET, NJ-Cushman & Wakefield, Inc.’s Metropolitan Area Capital Markets group has orchestrated the $9.1-million sale of 265 Davidson Ave. here. Friendwell Property Investment Co. purchased the 176,000-square-foot, class A office building from KBS Realty Advisors.

The four-story, multi-tenanted building sits on more than 14 acres near Exit 10 of I-287. “This neighborhood is a well-known corporate back-office submarket, with corporate tenants including MetLife, Prudential, Cablevision, AT&T, Nissan and Mitsubishi,” says Cushman & Wakefield’s David Bernhaut, who headed the transaction, along with team members Andrew Merin and Gary Gabriel. “At the same time, the submarket faces challenging conditions with relatively high vacancy rates.”

Within this context, 265 Davidson is currently 65% occupied. “Friendwell acquired a superior asset at an excellent cost basis--combining current cash flow with the opportunity to lease up space at very competitive rental rates,” Bernhaut tells GlobeSt.com. “This is a great long-term investment for a group that is focused on building a strong Northern New Jersey commercial portfolio.” The property’s main entrance leads to an atrium lobby with stainless steel and glass rail finishes. Flexible, 45,000-square-foot floor plates accommodate full-floor users and are divisible for smaller tenants.