SOMERSET, NJ -Veeco Process Equipment, a New York-based technological equipment manufacturing firm, acquired its 38,000-square-foot office building in Somerset, NJ from Belmont Properties LLC for almost $3.9 million, or about $102 per square foot.
Veeco Process Equipment currently occupies space in the building, which it purchased to make room for expanding its business. It will be the sole occupant of the building, says its representative, Douglas Twyman of Cassidy Turley. “The deal was reasonably easy. You had motivated participants,” Turley tells GlobeSt.com.
The single-story building at 145 Belmont Dr. was completed in 1980. It is located in an established corporate environment with neighboring tenants such as AT&T, Merrill Lynch, Nissan, & Mitsubishi. Bruce Meringolo of Newmark Associates represented the seller.
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