LAWRENCE TOWNSHIP, NJ—Privately-held securities broker/dealer firm David Lerner Associates has acquired 134 Franklin Corner Road in Lawrence, NJ, a 25,000-square-foot office building that was once the headquarters of Trenton Savings Bank.
Colliers International associate director Vinny DiMeglio represented David Lerner Associates in the transaction, while executive managing director Thomas Romano and senior managing director Tim Norris represented the seller.
"We've seen more activity over the last 24 months with tenants wanting to convert from leasing to owning," DiMeglio tells GlobeSt.com exclusively. "We've sold a building in Yardley to a tenant who was leasing space in Hamilton, the owners of the company were interested in being real estate investors and not just sinking their money into rent." He says the local Babe Ruth baseball league recently expanded and is selling its property to buyers who are moving from being tenants to owners as well.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.