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Signature Acquisitions Snaps Up Warren Offices for Long-Term Hold
Cushman & Wakefield arranged the sale of a 207,252-square-foot office building at 30 Independence Blvd. in Warren, NJ for an undisclosed sum. The team of David Bernhaut, Frank DiTommaso, Maia Sirabian and Bill Baunach represented the seller and procured the buyer, Signature Acquisitions. Cushman & Wakefield’s Brad Domenico arranged the acquisition financing on behalf of the purchaser.
“Most office acquisitions these days are intended for redevelopment or alternative use – this is not one of them,” said DiTommaso. “The marketing process for 30 Independence was robust, with strong interest from office investors who recognized the building’s future as a premier facility within the local submarket. 30 Independence has separated itself from the local landscape given its history of institutional ownership, general overall quality and solid in-place cash flow.”
30 Independence was delivered 52% leased to six tenants. The property has undergone extensive renovations and offers amenities such as a grab and go café service, a Peloton-equipped fitness center, an 80-seat conference facility and covered parking.
- ◦Sale/Acquisition
