Home / Business and Economy / Edison Office Building Fetches $11.7M in Fierce Bidding
Edison Office Building Fetches $11.7M in Fierce Bidding
20 Sep
Summary
- The Edison Square West office building sold for $11.7 million.
- The 98,566 sq ft property was marketed for its value-add potential.
- A competitive bidding environment led to a strong pre-auction offer.
An office building in Edison, spanning approximately 98,566 square feet, has been sold for $11.7 million. The property, identified as Edison Square West, was marketed as a value-add investment opportunity for potential buyers.
Located at 2035 Lincoln Highway, the building presented an attractive proposition with significant vacant space and further availability on the horizon. Its prime location along a key business corridor in Central Jersey drew considerable attention from both private and institutional investors.
The marketing efforts, in partnership with an online auction platform, generated robust interest. Over 130 confidentiality agreements were signed, and numerous property tours were conducted, cultivating a competitive environment. This led to a compelling offer secured before the scheduled auction.
The transaction involved a substantial nonrefundable deposit from the buyer. Furthermore, both the buyer and seller agreed to share the costs associated with the mansion tax and transfer tax equally as part of the deal.
