Colliers announced the successful sale of Edison Square West, a 98,566-square-foot Class A office building located at 2035 Lincoln Highway, for $11,700,000 (approximately $119 per square foot).
The transaction was executed on behalf of seller Friendwell Management USA, LLC, through a negotiated pre-auction sale marketed in partnership with online commercial real estate auction platform Ten-X. The Colliers deal team was led by Vice Chair Jacklene Chesler, Senior Vice President Patrick Norris and Transaction Manager Brittany Leventoff.
Situated along Route 27 in Central New Jersey’s established business corridor, the asset presented investors with a value-add opportunity featuring in-place income alongside an initial vacancy of roughly 17,000 square feet and an anticipated upcoming downsizing of 13,000 square feet.
Colliers and Ten-X executed a targeted campaign that secured over 130 confidentiality agreements and conducted 11 property tours, ultimately driving a competitive bidding environment backed by a $1 million non-refundable deposit.
As part of the sale structure negotiated during the transaction, Friendwell Management USA, LLC executed a sale-leaseback agreement ensuring that 2035 Lincoln Highway will remain its corporate headquarters.
“The sale of Edison Square West underscores the power of strategic positioning, broad market exposure, and a disciplined execution process,” noted Jacklene Chesler, highlighting ongoing investor demand for well-positioned office assets combining stable cash flow with upside potential.
