Bussel Realty Corp. on Monday announced that it represented the purchase of an 84,325-square-foot office property in Somerset for $4.5 million. The property, located at 80 Cottontail Lane, was acquired by Pillar Plaza LLC, an entity affiliated with the local nonprofit Pillar Ministries.
Gregory Irving, an executive vice president and partner at BRC, represented the buyer in the transaction, which was conducted on the online commercial real estate auction platform, Ten-X. Following the purchase, Irving has been named the exclusive leasing agent for the property. Available units for immediate occupancy range from 3,000 to 10,000 square feet.
Irving described the property as a “well-located Class A office property” that is “aggressively priced for quick transactions.” The new owners are also planning to upgrade the building’s common areas.
The office building, situated in a suburban community in Somerset County, offers 329 surface and covered parking spaces. Its location provides convenient access to major roadways, including I-287 and the New Jersey Turnpike.
Pillar Plaza LLC is affiliated with Pillar Ministries, a nonprofit organization with a century-long presence in Somerset County. The ministry focuses on various “pillars,” including media, education, missions, and local churches. Its media arm, known as “Radio,” uses technology to achieve its goals, while the education and missions pillars support Christ-centered schools and global outreach.
The seller was not disclosed, but the transaction highlights BRC’s role in the commercial real estate market, particularly its expertise in representing buyers and sellers in complex transactions.
