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Princeton Corridor Offices Change Hands
Cushman & Wakefield has arranged the sale of Ibis Plaza, a two-building office complex at 3525-2525 Quakerbridge Rd. in Hamilton, NJ, from a private owner to IBIS Realty LLC for an undisclosed sum.
The buyer was drawn by the appealing risk profile afforded by the property’s diverse tenant profile, as well as upside potential via lease-up of its available space, said Cushman & Wakefield’s Andrew Schwartz. The two properties, totaling 119,000 square feet, were 88% occupied at the time of the sale.
“Ibis Plaza accommodates the market trend toward smaller offices, collaborative spaces and flexible terms,” Schwartz said. “The single-story design accommodates varied uses in a market with limited ‘like’ alternatives at competitive pricing.”
Schwartz led a team that included Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Ryan Larkin and Milt Charbonneau. “Ibis Plaza is strategically located in the high growth, highly educated Princeton Corridor,” said Larkin.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
