Underscoring a persistent shift toward corporate ownership in the Garden State, Colliers announced the sale of 45 Technology Drive, a 45,800-square-foot office building in Warren, Somerset County.
Representing the seller and procuring the buyer—an undisclosed end-user—the Colliers team was led by Vice Chair Jacklene Chesler, Senior Vice President Patrick Norris, and Transaction Manager Brittany Leventoff. The deal marks another significant milestone for a team that has closed over 500,000 square feet of owner-user transactions in Morris and Somerset Counties in just the last eight months.
The property, a two-story asset built in 2001, is situated within the Mount Bethel Corporate Center, an established destination for the science, technology, engineering, and mathematics (STEM) sectors. The building features efficient, divisible floorplates and was delivered vacant, providing the new owner with a “turn-key” canvas for long-term operational control.
Its location offers seamless connectivity to New Jersey’s primary transit arteries, including:
- Interstate 78
- Interstate 287
- U.S. Route 22
The facility counts global leaders like Bristol Myers Squibb (which recently signed a 15-year renewal nearby) and Aquestive among its corporate neighbors, placing the new owner in the heart of Northern New Jersey’s high-tech workforce pool
As the 2026 office market continues to stabilize, experts note that “end-user” acquisitions—where a company buys its own headquarters rather than leasing—have become one of the most active segments of the commercial real estate landscape.
“Owner-user demand continues to be one of the most active segments of New Jersey’s commercial real estate transactions,” said Jacklene Chesler, Vice Chair at Colliers. “We’ve completed a number of successful transactions with end-users across the state, reflecting the continued interest from companies seeking long-term stability and control through ownership.”
This latest closing in Warren adds to a prolific run for the Colliers investment sales team. Their recent streak of successful end-user and investment transactions includes:
- Parsippany: 45 Waterview Boulevard and 1 Jefferson Road.
- Somerset: 80 Cottontail Lane and 676 Franklin Boulevard.
- Bridgewater: 1130 Route 22 East (Centerpointe I).
The team also confirmed that 199 Pomeroy Road in Parsippany is currently under contract, suggesting that the appetite for high-quality, suburban office assets remains strong heading into the second quarter of the year.
