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Two Raritan Center Industrial Assets Trade for $25 Million

EDISON, NJ—Two Raritan Center industrial buildings have changed hands in a $25 million sale, with Federal Business Centers acquiring 300 Columbus Circle and 400 Raritan Center Parkway from High Street Realty.

By Steve Lubetkin | stevelubetkin | | Updated on May 19, 2016
400 Raritan Center Parkway, Edison, NJ 400 Raritan Center Parkway, Edison, NJ
EDISON, NJ— Two Raritan Center industrial buildings have changed hands in a $25 million sale, with Federal Business Centers acquiring 300 Columbus Circle and 400 Raritan Center Parkway from High Street Realty. The transaction was orchestrated by Cushman & Wakefield’s Metropolitan Area Capital Markets Group. This transaction marks the third time the Metropolitan Area Capital Markets Group team has been involved in the sale of 300 Columbus Circle and 400 Raritan Center Parkway, ” says Cushman & Wakefield’s Gary Gabriel. “Each time, these assets have come to market with high occupancy and quality tenants. Accordingly, each offering has drawn significant, competitive interest from the investment community.” Gabriel headed the Cushman & Wakefield sale team that included Andrew Merin, David Bernhaut, Brian Whitmer, Kyle Schmidt and Andrew Siemsen . The adjacent, multi-tenanted properties total 204,440 square feet and are 90 percent occupied by tenants. Situated within Raritan Center immediately off of exit 10 of I-95, at its intersection with I-287, Garden State Parkway and Route 1, the properties offer unmatched accessibility to the greater tri-state region. “The buildings’ Raritan Center address also adds to their appeal,” Schmidt says. “This business park offers outstanding amenities and is uniformly considered a top location for industrial in New Jersey.” The master-planned development contains more than 13 million square feet of industrial, office, and R&D space, as well as the New Jersey Convention and Exposition Center , several hotels, banks, a day care center, and the regional operations for both United Parcel Service and Federal Express .

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