June 19, 2017
Shelbourne Global Solutions paid $19.9 million for Perryville III, a three-story office building in the I-78 market of Hunterdon County, NJ.
“Shelbourne recognized this as an excellent value-added play, with the strong upside potential of below-market rental rates and available space,” said David Bernhaut, of Cushman & Wakefield’s Metropolitan Area Capital Markets Group. “New Jersey’s I-78 Corridor submarket has become a hotbed for the pharmaceutical and technology industries, and has the highest occupancy of all major northern New Jersey suburban office markets.”
Built in 1996, the 288,280-square-foot building at 53 Frontage Rd. in Hampton, NJ will be rebranded as Shelbourne at Hunterdon.
For comments, questions or concerns, please contact Bendix Anderson