Search
 

Oticon Takes 163,000 SF Office Asset for its US HQ

SOMERSET, NJ-The property will serve as a consolidation of two other local facilities.

By Alyson Grala | Updated on September 24, 2010

SOMERSET, NJ-Jeffrey Dunne, Kevin Welsh and Brian Schulz of CB Richard Ellis’ New York Institutional Group represented the unnamed seller in the disposition of 580 Howard Ave. here, while Geoffrey Schubert and Sean Morley, also from CBRE, represented the buyer, Oticon Inc. in the acquisition of the property, which will serve as a consolidation of two local facilities to create its new US headquarters.

The asset is a 162,756-square-foot office building situated on around nine acres. It has been occupied by a number of high-profile companies, such as Avaya and AT&T. Welsh tells GlobeSt.com, “The property presented an excellent opportunity for Oticon to purchase an asset that would enable the company to consolidate its operations and administrative office within one building creating operational efficiencies and a new corporate environment.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.