LEBANON, NJ—Colliers International has arranged the $5.8 million sale of two class-A office buildings at 100 Corporate Drive and 200 Corporate Drive, located at 78 Corporate Center in Lebanon, New Jersey.
The three-story buildings, totaling 185,866 square feet, feature a masonry brick veneer façade, insulated glass, and elevators. The 92,925-square-foot property at 100 Corporate Drive is currently 39 percent occupied and includes a recently renovated common area. The 92,941-square-foot 200 Corporate Drive is vacant and ideal for a single tenant, but its 30,000-square-foot floor plates can accommodate multi-tenanting. This property also includes a full service cafeteria.
“This one was a more difficult sale, because the assets had been taken from the original owner, they were in the hands of a special servicer, there was a lot of deferred maintenance,” Jeffrey Oram, executive managing director at Colliers International tells GlobeSt.com exclusively. “When you have something like that it's not easy to create a competitive process.”
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
