Signature Acquisition buys 100 Matawan Road in New Jersey for $19.75m

Signature Acquisition buys 100 Matawan Road in New Jersey for $19.75m

Published at: 2018-09-13 15:23 | Author: CIJ USA
Signature Acquisition purchased a class A office building in Matawan, New Jersey for $19.75m. Located directly off the Garden State Parkway, 100 Matawan Road totals 133,678 sq ft. Changing hands for just under $148 per sq ft, the asset was 85 percent leased at the time of the sale. CBRE represented the seller, a partnership led by Denholtz Associates. The previous owner made capital improvements exceeding $1.6m to the asset, including upgrades to the common areas and lobbies, exterior improvements, restroom renovations and HVAC upgrades.

“Signature Acquisitions continues to be one of the most active investors in our market and this purchase compliments the assets they own in Clark and Cranford while giving them a greater presence in central New Jersey,” said Jeremy Neuer of CBRE.

Similar Stories:

New York City’s 470 Park Avenue South sells for $245m
SJP Properties and PGIM Real Estate paid $245m for 470 Park Avenue South in New York City.  »
Piedmont Office Realty Trust pays $74m for Burlington offices
Piedmont Office Realty Trust has paid $74m for a class A office building in Burlington, Ma  »
Fernau LeBlanc acquires Fairfax office condo for $10m
Fernau LeBlanc Investment Partners acquired a 86,474 sq ft office condo in Fairfax, Virgin  »
Skanska sells 121 Seaport office tower in Boston for $455m
American Realty Advisors and Norges Bank Real Estate Management paid $455m in cash for the  »
“Steady,” “healthy,” “robust” and even “outperformed” were some of the adj   »
Orlando’s economic prospects haven’t looked so positive in ages. Not only are Florida   »
From the north to the south of Florida, occupancy rates of the largest office towers are r   »
Tampa mayor Bob Buckhorn was on hand at the groundbreaking ceremony as a show of support f   »